AVTA · Avantax, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Revenue | $666.50M | $885.20M | $754.95M | $717.95M | $455.91M | $509.56M |
| Cost of Revenue | $444.92M | $479.85M | $398.29M | $362.77M | $223.18M | $246.07M |
| Gross Profit | $221.58M | $405.35M | $356.66M | $355.17M | $232.74M | $263.49M |
| R&D | - | - | - | - | - | - |
| SG&A | $92.75M | $98.67M | $82.16M | $78.53M | $60.12M | $52.67M |
| Total Operating Expenses | $677.83M | $854.58M | $1.02B | $717.94M | $492.78M | $461.52M |
| D&A | $37.73M | $43.43M | $39.91M | $44.21M | $38.59M | $38.14M |
| Operating Income | ($11.34M) | $30.62M | ($269.12M) | $9.0K | $67.68M | $48.04M |
| Interest Expense | $217.0K | $31.48M | $26.64M | $19.02M | $15.61M | $21.21M |
| Income Tax | ($14.93M) | ($9.22M) | $42.33M | ($65.05M) | $311.0K | ($25.89M) |
| Net Income | $420.25M | $7.76M | ($342.75M) | $48.15M | $50.63M | $27.04M |
| EPS - Basic | $8.76 | $0.16 | ($7.14) | $1.00 | $0.94 | $0.61 |
| EPS - Diluted | $8.54 | $0.16 | ($7.14) | $0.98 | $0.90 | $0.57 |
Balance Sheet
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $263.93M | $134.82M | $150.13M | $80.82M | $84.52M | $62.31M |
| Accounts Receivable | $24.12M | $21.91M | $12.74M | $16.27M | $14.98M | $10.69M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $7.53M | $8.22M | $9.29M | $10.97M | $3.80M | $4.41M |
| Current Assets | $323.75M | $200.28M | $200.67M | $139.14M | $131.07M | $99.40M |
| Total Assets | $963.51M | $1.07B | $1.06B | $1.14B | $997.73M | $1.00B |
| Current Liabilities | $142.29M | $111.72M | $101.12M | $93.53M | $48.28M | $51.76M |
| Long-term Debt | $0 | $553.13M | $552.55M | $381.49M | $260.39M | $338.08M |
| Total Liabilities | $220.32M | $730.32M | $751.90M | $494.06M | $365.19M | $442.25M |
| Stockholders' Equity | $743.20M | $341.62M | $312.29M | $643.51M | $607.60M | $541.39M |
| Retained Earnings | ($829.54M) | ($1.25B) | ($1.26B) | ($914.79M) | ($961.69M) | ($1.01B) |
Cash Flow
| Line item | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $31.94M | $36.83M | $44.08M | $72.85M | $105.55M | $72.85M |
| Investing Cash Flow | ($125.42M) | ($38.59M) | ($140.71M) | $2.05M | ($7.63M) | $2.05M |
| Financing Cash Flow | $160.94M | ($14.18M) | $160.94M | ($68.56M) | ($74.80M) | ($68.56M) |
| CapEx | $14.89M | $30.28M | $36.00M | $10.50M | $7.63M | $5.04M |
| Free Cash Flow | $17.05M | $6.55M | $8.08M | $62.34M | $97.92M | $67.81M |
Ratios
| Metric | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 33.2% | 45.8% | 47.2% | 49.5% | 51.0% | 51.7% |
| Operating margin | -1.7% | 3.5% | -35.6% | 0.0% | 14.8% | 9.4% |
| EBITDA margin | 4.0% | 8.4% | -30.4% | 6.2% | 23.3% | 16.9% |
| Net margin | 63.1% | 0.9% | -45.4% | 6.7% | 11.1% | 5.3% |
| Free cash flow margin | 2.6% | 0.7% | 1.1% | 8.7% | 21.5% | 13.3% |
| FCF / Net income | 0.04 | 0.85 | -0.02 | 1.29 | 1.93 | 2.51 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 13.9% | 11.1% | 10.9% | 10.9% | 13.2% | 10.3% |
| Effective tax rate | -3.7% | - | - | - | 0.6% | -2253.3% |
| Return on assets | 43.6% | 0.7% | -32.2% | 4.2% | 5.1% | 2.7% |
| Return on equity | 56.5% | 2.3% | -109.8% | 7.5% | 8.3% | 5.0% |
| Return on invested capital | -1.5% | 2.7% | -24.6% | 0.0% | 7.7% | 5.5% |
| Liquidity | ||||||
| Current ratio | 2.28 | 1.79 | 1.98 | 1.49 | 2.71 | 1.92 |
| Quick ratio | 2.28 | 1.79 | 1.98 | 1.49 | 2.71 | 1.92 |
| Cash ratio | 1.85 | 1.21 | 1.48 | 0.86 | 1.75 | 1.20 |
| Leverage | ||||||
| Debt / Equity | 0.00 | 1.62 | 1.77 | 0.59 | 0.43 | 0.62 |
| Debt / Assets | 0.00 | 0.52 | 0.52 | 0.34 | 0.26 | 0.34 |
| Debt / EBITDA | 0.00 | 7.47 | - | 8.63 | 2.45 | 3.92 |
| Interest coverage | -52.2x | 1.0x | -10.1x | 0.0x | 4.3x | 2.3x |
| Equity multiplier | 1.30 | 3.14 | 3.41 | 1.77 | 1.64 | 1.85 |
| Liabilities / Assets | 0.23 | 0.68 | 0.71 | 0.43 | 0.37 | 0.44 |
| Efficiency | ||||||
| Asset turnover | 0.69 | 0.83 | 0.71 | 0.63 | 0.46 | 0.51 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 13d | 9d | 6d | 8d | 12d | 8d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 6d | 6d | 9d | 11d | 6d | 7d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -24.7% | 17.3% | 5.2% | 57.5% | -10.5% | 11.8% |
| Revenue CAGR (3y) | -2.4% | 24.8% | 14.0% | 16.3% | 57.0% | -4.3% |
| Revenue CAGR (5y) | 5.5% | 14.2% | 45.0% | 4.3% | -4.5% | 4.6% |
| Gross profit growth (YoY) | -45.3% | 13.7% | 0.4% | 52.6% | -11.7% | 13.2% |
| Operating income growth (YoY) | - | - | - | -100.0% | 40.9% | 29.4% |
| Net income growth (YoY) | 5317.6% | - | - | -4.9% | 87.3% | - |
| EPS growth (YoY) | 5237.5% | - | - | 8.9% | 57.9% | - |
| EPS CAGR (3y) | 105.8% | -43.8% | - | - | - | - |
| EPS CAGR (5y) | 71.8% | - | - | - | 10.0% | 1.1% |
| FCF growth (YoY) | 160.1% | -18.8% | -87.0% | -36.3% | 44.4% | 0.6% |
| FCF CAGR (5y) | -24.1% | -37.3% | -11.4% | 4.3% | 1.6% | 8.5% |
| Book value growth (YoY) | 117.5% | 9.4% | -51.5% | 5.9% | 12.2% | 29.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Business segments
$885.20M totalWealth Management$658.21M · 74.4%
Tax Software$226.99M · 25.6%
Product / service
$1.62B totalFinancial Service$658.21M · 40.6%
Advisory Revenue$395.80M · 24.4%
Tax Software Services$226.99M · 14.0%
Consumer$209.75M · 12.9%
Commission Revenue$89.97M · 5.5%
Asset Based Revenue$22.10M · 1.4%
Professional$14.84M · 0.9%
Transaction And Fee Revenue$4.21M · 0.3%
Stability scores
Altman Z′
FY 2022 · bankruptcy risk
1.48
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2022 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Finance Services
Comparing AVANTAX against the 5 most active filers in the same SIC group.