AVA
Avista Corporation
AVA has the edge over SMR overall, supported by stronger fundamentals and lower modeled downside.
SMR
NuScale Power Corporation
SMR offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
AVA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Weak | |
| Strong |
AVA's profitability and balance sheet are currently strong, and its revenue is stable, but its cash flow is weak.
SMR Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Weak | |
| Weak | |
| Unavailable |
SMR's revenue, profitability and cash flow are currently weak. There isn't enough data to rate its balance sheet.
AVA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 14x | $40.29 | — |
| Cheap | 15x | $45.64 | +13% |
| Forward | 15x | $40.29 | — |
| Fair | 18x | $52.17 | +29% |
| Expensive | 21x | $62.47 | +55% |
Historical ranges are pointers, not guarantees.
AVA's PE is in its cheap range at 14x. On analysts' estimates for next year's earnings, today's price would be 15x.
SMR PE Valuation
SMR has no meaningful PE right now: it lost money over the past year.
AVA Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect AVA's profitability to weaken, with its earnings and revenue holding steady.
SMR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| -- | |
| Limited | |
| High |
Analysts expect SMR's losses to shrink, with revenue growing.
AVA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.68 | -10% |
| Q3 2026 | $2.98 | +26% |
| Q2 2026 | $2.77 | +24% |
| Q1 2026 | $2.51 | +6.4% |
| Q4 2025 | $2.38 | +3.9% |
| Q3 2025 | $2.37 | -6% |
| Q2 2025 | $2.24 | -9.7% |
| Q1 2025 | $2.36 | -2.5% |
| Q4 2024 | $2.29 | +2.2% |
AVA has the edge over SMR on earnings quality, reporting a profit while its opponent remains loss making.
SMR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.72 | +$2.14 |
| Q2 2026 | -$2.46 | -$1.27 |
| Q1 2026 | -$2.46 | -$1.09 |
| Q4 2025 | -$2.43 | -$0.96 |
| Q3 2025 | -$2.86 | -$1.91 |
| Q2 2025 | -$1.19 | -$0.16 |
| Q1 2025 | -$1.37 | -$0.52 |
| Q4 2024 | -$1.47 | -$0.67 |
SMR is still losing money, but far less than before: $0.72 per share over the past year, against $2.86 at its worst in late 2025.
AVA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $421M | +4.5% |
| Q2 2026 | $413M | +0.5% |
| Q1 2026 | $570M | -7.6% |
| Q4 2025 | $533M | 0% |
| Q3 2025 | $403M | +2.4% |
| Q2 2025 | $411M | +2.2% |
| Q1 2025 | $617M | +1.2% |
| Q4 2024 | $532.8M | +3% |
AVA's revenue fell from its 2025 peak and has held roughly level since: $421M last quarter, up 4.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +0.8 points |
| Q2 2026 | 13% | -0.8 points |
| Q1 2026 | 24% | +3.3 points |
| Q4 2025 | 21% | +1.9 points |
| Q3 2025 | 15% | +2.5 points |
| Q2 2025 | 14% | +0.4 points |
| Q1 2025 | 20% | +3.7 points |
| Q4 2024 | 19% | -0.1 points |
AVA has the edge over SMR on profitability, with a higher operating margin.
SMR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $281K | -97% |
| Q2 2026 | $75K | -99% |
| Q1 2026 | $565K | -96% |
| Q4 2025 | $1.8M | -95% |
| Q3 2025 | $8.2M | +1635% |
| Q2 2025 | $8.1M | +733% |
| Q1 2025 | $13.4M | +870% |
| Q4 2024 | $34.2M | +651% |
SMR's revenue has slid since its 2024 peak: $281,000 last quarter, down 97% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -23068% | -16535 points |
| Q2 2026 | -85337% | -84802 points |
| Q1 2026 | -10181% | -9917 points |
| Q4 2025 | -4022% | -3988 points |
| Q3 2025 | -6533% | +2103 points |
| Q2 2025 | -535% | +3796 points |
| Q1 2025 | -264% | +2925 points |
| Q4 2024 | -35% | +1524 points |
SMR's operating margin was −23068% last quarter, down 16535 points from the same quarter a year ago, near the bottom of its range since 2022.
AVA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$51M | -238% |
| Q2 2026 | -$54M | +$49M |
| Q1 2026 | $29M | -64% |
| Q4 2025 | -$116M | -$78.2M |
| Q3 2025 | $37M | +$64M |
| Q2 2025 | -$103M | -$97.4M |
| Q1 2025 | $81M | +13% |
| Q4 2024 | -$37.8M | +$47.8M |
AVA has the stronger cash trend. Its trailing FCF is down 59% versus its history, compared with SMR at down 161%.
SMR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$58.6M | -$25.3M |
| Q1 2026 | -$316.2M | -$293.3M |
| Q4 2025 | -$204.1M | -$177.6M |
| Q2 2025 | -$33.3M | +$2.7M |
| Q1 2025 | -$22.9M | +$10.6M |
| Q4 2024 | -$26.5M | +$46.8M |
| Q3 2024 | -$12.7M | +$15M |
| Q2 2024 | -$36M | +$4.5M |
SMR has burned cash in almost every quarter: −$608M over the past year, against −$95M the year before.
AVA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +695K shares |
| 1 year | +3.1% | +2.5M shares |
| 3 years | +9.2% | +7M shares |
| 5 years | +19% | +13.7M shares |
| Available history | +25% | +16.7M shares |
AVA has the edge over SMR on shareholder dilution, with a more favorable share count trend.
SMR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +45.9M shares |
| 1 year | +178% | +263M shares |
| 3 years | +448% | +336M shares |
SMR has 410M diluted shares, up 178% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
AVA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 4.9x | High |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.4x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 5.1x | High |
AVA's net debt is less than a year of its operating earnings (EBITDA).
SMR Net Leverage
SMR's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
AVA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.7 | Neutral |
| Stochastic | 69.4 | Neutral |
AVA's weekly RSI is 58 (neutral) and its Stochastic is 69 (neutral).
SMR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.5 | Oversold |
| Stochastic | 8.6 | Oversold |
SMR's weekly RSI is 30 (oversold) and its Stochastic is 9 (oversold).
AVA PE vs Utilities Sector
| Metric | AVA | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 20x | 34% below |
| PE % | 2 | 44 | 42 pts below |
AVA is trading at 14x earnings, a 34% discount to the Utilities sector's median of 20x.
SMR PE vs Utilities Sector
SMR has no meaningful PE right now: it lost money over the past year.
AVA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $37.3 | 8% above |
| 20 week MA | $38.5 | 4.7% above |
| 50 week MA | $39.7 | 1.5% above |
| 100 week MA | $39.0 | 3.3% above |
| 200 week MA | $38.1 | 5.7% above |
AVA has the edge over SMR on trend strength, trading above more of its moving averages.
SMR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.26 | 23% below |
| 20 week MA | $7.88 | 39% below |
| 50 week MA | $11.4 | 58% below |
| 100 week MA | $20.2 | 76% below |
| 200 week MA | $14.4 | 67% below |
SMR is in a downtrend: it's below all five of its weekly moving averages, and 67% below its 200-week average.
AVA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $47.8 | $39.9 | -16% |
| 2021 | $39.9 | $41.3 | +3.5% |
| 2022 | $41.3 | $43.8 | +6.2% |
| 2023 | $43.8 | $35.7 | -18% |
| 2024 | $35.7 | $36.5 | +2.2% |
| 2025 | $36.5 | $38.5 | +5.3% |
| 2026 YTD | $38.5 | $40.3 | +4.7% |
AVA has the edge over SMR on returns for 2026, with the stronger performance.
SMR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.1 | $10.3 | +1.2% |
| 2021 | $10.3 | $10.1 | -1.9% |
| 2022 | $10.1 | $10.1 | +0.5% |
| 2023 | $10.1 | $3.29 | -67% |
| 2024 | $3.29 | $19.5 | +493% |
| 2025 | $19.5 | $14.9 | -24% |
| 2026 YTD | $14.9 | $4.82 | -68% |
SMR's yearly returns have swung widely, from +493% in 2024 to −67% in 2023. It's down 68% so far in 2026.