AVALON HOLDINGS CORP (AWX)

NYSE · Common Stock · Refuse Systems

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

19 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-19 — see the exhibit.

Which other public companies file entities in the same places:

Subsidiaries of AVALON HOLDINGS CORP as disclosed in its SEC filing
Entity	Jurisdiction	Note
American Landfill Management, Inc.	Ohio
American Construction Supply, Inc.	Ohio
American Waste Management Services, Inc.	Ohio
AWMS Water Solutions, LLC	Ohio
AWMS Holdings, LLC	Ohio
AWMS Rt. 169, LLC	Ohio
Avalon Med Spa, LLC	Ohio
Avalon Dermatology, LLC	Ohio
Avalon Clubs and Resorts, Inc.	Ohio
Avalon Resorts, Inc.	Ohio
The Avalon Resort and Spa LLC	Ohio
Avalon Cigar Shop, Inc.	Ohio
Avalon Clubs, Inc.	Ohio
Avalon Golf and Country Club, Inc.	Ohio
Avalon Mahoning Sports Center, Inc.	Ohio
Avalon Country Club at Sharon, Inc.	Pennsylvania
Havana Cigar Company	Pennsylvania
Avalon Lakes Golf, Inc.	Ohio
TBG, Inc.	Ohio

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 7

PASSReturn on assets positiveROA 0.4%
PASSOperating cash flow positiveOCF 4M
FAILReturn on assets improving1.5% → 0.4%
PASSCash flow exceeds earningsOCF 4M vs NI 321000.0
PASSLong-term debt ratio falling33.2% → 32.1% of assets
PASSCurrent ratio improving0.94 → 1.01
FAILNo share dilutionno data
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.97× → 0.96×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$58.7M	$14,000	−$2.0M	—	3,878,000
FY2021	$70.4M	$2.0M	−$2.1M	—	3,933,071
FY2022	$81.2M	−$583,000	−$4.1M	—	3,899,000
FY2023	$80.9M	−$1.8M	−$1.5M	—	—
FY2024	$83.8M	$1.3M	$1.1M	—	—
FY2025	$83.5M	$321,000	$2.1M	—	—

Identity

CIK: 0001061069
FIGI: BBG000BPSQJ3
SIC: 4953 · Refuse Systems
Incorporated: OH
Headquarters: WARREN, OH

Ownership

Institutional: 9.0%
Institutions: 17
Insiders: 41.7%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other refuse systems companies

AVALON HOLDINGS CORP files under SIC 4953 — all 6 refuse systems companies compared on assets and F-score.

WASTE MANAGEMENT INCWM REPUBLIC SERVICES, INC.RSG Waste Connections, Inc.WCN CASELLA WASTE SYSTEMS INCCWST Vivakor, Inc.VIVK

Questions about AVALON HOLDINGS CORP

How many subsidiaries does AVALON HOLDINGS CORP file with the SEC?: 19, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Ohio, Pennsylvania). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is AVALON HOLDINGS CORP financially healthy?: AVALON HOLDINGS CORP scores 5 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

19 entities across 2 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-19 — see the exhibit.

Which other public companies file entities in the same places:

Ohio17 Pennsylvania2

Entity

Jurisdiction

Note

American Landfill Management, Inc.

Ohio

American Construction Supply, Inc.

Ohio

American Waste Management Services, Inc.

Ohio

AWMS Water Solutions, LLC

Ohio

AWMS Holdings, LLC

Ohio

AWMS Rt. 169, LLC

Ohio

Avalon Med Spa, LLC

Ohio

Avalon Dermatology, LLC

Ohio

Avalon Clubs and Resorts, Inc.

Ohio

Avalon Resorts, Inc.

Ohio

The Avalon Resort and Spa LLC

Ohio

Avalon Cigar Shop, Inc.

Ohio

Avalon Clubs, Inc.

Ohio

Avalon Golf and Country Club, Inc.

Ohio

Avalon Mahoning Sports Center, Inc.

Ohio

Avalon Country Club at Sharon, Inc.

Pennsylvania

Havana Cigar Company

Pennsylvania

Avalon Lakes Golf, Inc.

Ohio

TBG, Inc.

Ohio

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

5 / 7

PASSReturn on assets positiveROA 0.4%
PASSOperating cash flow positiveOCF 4M
FAILReturn on assets improving1.5% → 0.4%
PASSCash flow exceeds earningsOCF 4M vs NI 321000.0
PASSLong-term debt ratio falling33.2% → 32.1% of assets
PASSCurrent ratio improving0.94 → 1.01
FAILNo share dilutionno data
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.97× → 0.96×

Year

Revenue

Net income

Free cash flow

Gross margin

FY2020

$58.7M

$14,000

−$2.0M

—

3,878,000

FY2021

$70.4M

$2.0M

−$2.1M

—

3,933,071

FY2022

$81.2M

−$583,000

−$4.1M

—

3,899,000

FY2023

$80.9M

−$1.8M

−$1.5M

—

FY2024

$83.8M

$1.3M

$1.1M

—

FY2025

$83.5M

$321,000

$2.1M

—

Questions about AVALON HOLDINGS CORP

How many subsidiaries does AVALON HOLDINGS CORP file with the SEC?

19, listed in its most recent exhibit 21. They are incorporated across 2 jurisdictions (Ohio, Pennsylvania). That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is AVALON HOLDINGS CORP financially healthy?

AVALON HOLDINGS CORP scores 5 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.