A
AVALON HOLDINGS CORP
AWXCIK 0001061069NYSENon-AcceleratedSmaller ReportingRefuse SystemsOhioFY ends Dec 31
Period
FY 2025
Revenue
$83.55M
Net Income
$321.0K
Total Assets
$87.38M
Equity
$38.35M
Shares Out
3.29M
Op. Cash Flow
$3.78M
Business
AVALON HOLDINGS CORP provides waste management services and operates golf, resort and recreational facilities. It offers hazardous and nonhazardous waste disposal brokerage and management, captive landfill management, salt water injection well operations, golf course and country club management, hotel and resort amenities, athletic and spa services, and dermatology and med spa services. The company’s key business segments are waste management services and golf and related operations, including subsidiaries that hold and operate clubs, resorts and specialized service entities. Avalon serves industrial, commercial, municipal and governmental customers and distributes services primarily across selected northeastern and midwestern United States markets through direct operations, memberships and third‑party brokerage relationships.
Summary from filing dated 2025-03-20
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Operating revenues | 84 | 84 | 81 | 81 | 70 | |
| Operating costs | 67 | 67 | 67 | — | — | |
| Depreciation and amortization expense | 4 | 4 | 4 | 3 | 3 | |
| Selling, general and administrative expenses | 11 | 10 | 10 | 10 | 10 | |
| Operating income | 2 | 3 | 111,000 | 347,000 | 561,000 | |
| Interest expense, net | −2 | −2 | −2 | — | — | |
| Other income, net | 0 | 7,000 | 0 | 231,000 | 369,000 | |
| Income before income taxes | −17,000 | 1 | −2 | −886,000 | 2 | |
| Provision for income taxes | 82,000 | 90,000 | 57,000 | 94,000 | 89,000 | |
| Net income | −99,000 | 952,000 | −2 | −980,000 | 2 | |
| Less net loss attributable to non-controlling interest in subsidiaries | −420,000 | −366,000 | −269,000 | −397,000 | −324,000 | |
| Net income attributable to Avalon Holdings Corporation common shareholders | 321,000 | 1 | −2 | −583,000 | 2 | |
| Basic net income per share (in dollars per share) | 0.08 | 0.34 | −0.46 | −0.15 | 0.51 | |
| Weighted average shares outstanding - basic (in shares) | 4 | 4 | 4 | 4 | 4 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 4 | 3 | 1 | 2 | 3 | |
| Accounts receivable, less allowance for credit losses of $240 at December 31, 2025 and $260 at December 31, 2024 | 10 | 9 | 9 | 11 | 10 | |
| Unbilled membership dues receivable | 541,000 | 582,000 | 567,000 | 599,000 | 578,000 | |
| Inventories | 2 | 2 | 2 | 1 | 1 | |
| Prepaid expenses | 919,000 | 1 | 1 | 1 | 996,000 | |
| Other current assets | 15,000 | 15,000 | 14,000 | 105,000 | 105,000 | |
| Total current assets | 17 | 15 | 14 | 16 | 16 | |
| Property and equipment, net | 54 | 56 | 57 | 57 | 53 | |
| Property and equipment under finance leases, net | 6 | 6 | 6 | 5 | 5 | |
| Operating lease right-of-use assets | 1 | 1 | 1 | 1 | 2 | |
| Restricted cash | 9 | 9 | 10 | 10 | 2 | |
| Noncurrent deferred tax asset | 32,000 | 27,000 | 8,000 | 8,000 | 8,000 | |
| Other assets, net | 28,000 | 33,000 | 36,000 | 36,000 | 36,000 | |
| Total assets | 87 | 86 | 88 | 90 | 78 | |
| Current portion of long-term debt | 614,000 | 575,000 | 538,000 | 503,000 | 1 | |
| Current portion of obligations under finance leases | 384,000 | 201,000 | 198,000 | 115,000 | 167,000 | |
| Current portion of obligations under operating leases | 362,000 | 365,000 | 432,000 | 424,000 | 534,000 | |
| Accounts payable | 8 | 7 | 10 | 11 | 10 | |
| Accrued payroll and other compensation | 1 | 1 | 1 | 989,000 | 797,000 | |
| Accrued taxes | 660,000 | 594,000 | 539,000 | 643,000 | 67,000 | |
| Deferred membership dues revenue | 4 | 4 | 3 | 4 | 3 | |
| Other liabilities and accrued expenses | 2 | 2 | 2 | 2 | 1 | |
| Total current liabilities | 17 | 15 | 18 | 19 | 18 | |
| Long-term debt, net of current portion | 28 | 29 | 29 | 30 | 19 | |
| Line of credit | 3 | 3 | 3 | 2 | 0 | |
| Obligations under finance leases, net of current portion | 1 | 707,000 | 598,000 | 381,000 | 496,000 | |
| Obligations under operating leases, net of current portion | 1 | 1 | 838,000 | 962,000 | 1 | |
| Asset retirement obligation | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | |
| Commitments and Contingencies | — | — | — | — | — | |
| Paid-in capital | 59 | 59 | 59 | 59 | 59 | |
| Accumulated deficit | −21 | −21 | −23 | −21 | −20 | |
| Total Avalon Holdings Corporation Shareholders' Equity | 38 | 38 | 37 | 38 | 39 | |
| Non-controlling interest in subsidiaries | −1 | −982,000 | −616,000 | −347,000 | −92,000 | |
| Total equity | 37 | 37 | 36 | 38 | 39 | |
| Total liabilities and equity | 87 | 86 | 88 | 90 | 78 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Amortization of debt issuance costs | 60,000 | 60,000 | 60,000 | 50,000 | 42,000 | |
| Provision for losses on accounts receivable | 175,000 | 64,000 | 56,000 | 32,000 | 36,000 | |
| Gain on disposal of equipment | 0 | −7,000 | 0 | — | — | |
| Noncurrent deferred tax asset, net | −5,000 | −19,000 | 0 | — | — | |
| Accounts receivable | −1 | 840,000 | 2 | −1 | −1 | |
| Unbilled membership dues receivable | 41,000 | −15,000 | 32,000 | −21,000 | 7,000 | |
| Inventories | 3,000 | 104,000 | −201,000 | −356,000 | −195,000 | |
| Prepaid expenses | 84,000 | 113,000 | 56,000 | −176,000 | −266,000 | |
| Other assets, net | 5,000 | 2,000 | 91,000 | 0 | −25,000 | |
| Accounts payable | 834,000 | −3 | −1 | 663,000 | 796,000 | |
| Accrued payroll and other compensation | 180,000 | −213,000 | 288,000 | 192,000 | −12,000 | |
| Accrued taxes | 66,000 | 55,000 | −104,000 | 35,000 | 24,000 | |
| Deferred membership dues revenue | 5,000 | 81,000 | −200,000 | 280,000 | 167,000 | |
| Other liabilities and accrued expenses | 30,000 | 199,000 | 281,000 | 279,000 | 144,000 | |
| Net cash provided by operating activities | 4 | 3 | 2 | 2 | 2 | |
| Capital expenditures | −2 | −2 | −4 | 6 | −4 | |
| Proceeds from disposal of equipment | 0 | 7,000 | 0 | 0 | 3,000 | |
| Net cash used in investing activities | −2 | −2 | −4 | −6 | −4 | |
| Principal payments on term loan facilities | −635,000 | −597,000 | −563,000 | −21 | −1 | |
| Principal payments on finance lease obligations | −338,000 | −221,000 | −143,000 | −167,000 | −334,000 | |
| Net cash used in financing activities | −973,000 | −818,000 | 944,000 | 11 | −1 | |
| Increase in cash, cash equivalents and restricted cash | 1 | 309,000 | −598,000 | 7 | −3 | |
| Capital expenditures included in accounts payable | 34,000 | 208,000 | 21,000 | 168,000 | 271,000 | |
| Operating lease right-of-use assets in exchange for lease obligations | 400,000 | 700,000 | 323,000 | 427,000 | 498,000 | |
| Finance lease obligation incurred | 1 | 333,000 | 443,000 | 0 | 104,000 | |
| Cash paid during the period for interest | 2 | 2 | 2 | 1 | 1 | |
| Cash paid during the period for income taxes | 93,000 | 54,000 | 162,000 | 58,000 | 65,000 |
Filings
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