Recent news highlights include a reported rise in profit for Avalon Holdings Corp in Q3 2025, reflecting positive operational results.

• Avalon Holdings Corp reported a rise in profit in Q3 2025, indicating improved financial performance [N1].
• The company’s stock was noted among pre-market movers in July 2022, reflecting market interest [N2].
• An analysis article in April 2021 discussed the risk profile of Avalon Holdings as an investment [N3].
• Avalon Holdings’ stock rose following Q2 earnings in August 2018, showing positive market reaction to financial results [N4].

Avalon Holdings’ combination of waste management services and golf and related operations provides diversified revenue sources that can support stability. The company’s management of specialized waste disposal and captive landfill operations, along with salt water injection well facilities, positions it to serve niche industrial and municipal customers. Its integrated golf and resort facilities offer a comprehensive recreational experience that may attract and retain members. Recent profit increases reported in Q3 2025 suggest operational improvements. The company’s strategy of offering investment opportunities in subsidiaries while retaining control may facilitate capital for growth and facility enhancements.

Avalon Holdings faces challenges in member retention and acquisition in its golf and related operations, which could impact revenue stability. The waste management segment has customer concentration risks, with one customer accounting for a significant portion of revenues in 2025. Regulatory decisions have led to suspension of certain salt water injection well operations, potentially affecting segment performance. The company’s liquidity position is tight, with a current ratio near 1.0 and modest cash coverage of liabilities. Competitive pressures in both business segments and reliance on regulatory permits and approvals present ongoing operational risks. Economic or market downturns could adversely affect discretionary spending on golf and resort services as well as industrial waste management demand.

Avalon Holdings benefits from a diversified business model combining waste management services with golf and related recreational operations, providing multiple revenue streams. Its waste management segment offers specialized hazardous and nonhazardous waste disposal brokerage and captive landfill management, supported by regulatory compliance and technical expertise, which can create barriers to entry. The company’s ownership and management of multiple golf courses, country clubs, and a resort with integrated amenities provide a unique bundled offering that may enhance member loyalty and cross-utilization of facilities. Avalon’s ability to offer investment opportunities in certain subsidiaries to accredited investors while maintaining managerial control supports capital access. However, the company faces competitive pressures in both segments, particularly in attracting and retaining golf club members, and must maintain regulatory compliance in waste management to avoid liabilities.

• Customer Concentration Risk: In 2025, one customer accounted for 10% of consolidated net operating revenues and 18% of the waste management services segment revenues, indicating reliance on a limited number of customers.
• Regulatory and Operational Risk: Operations of salt water injection wells have been suspended based on regulatory decisions, which may impact waste management segment revenues and operations.
• Liquidity Risk: As of December 31, 2025, Avalon’s current ratio was 1.01 with a cash ratio of 0.24, indicating tight liquidity and limited cash coverage of current liabilities.
• Member Retention and Acquisition Challenges: The golf and related operations segment faces ongoing challenges in retaining and attracting members, which could affect revenue and profitability.
• Competitive and Market Risks: Avalon operates in competitive markets for both waste management and recreational services, with potential impacts from economic downturns and changing customer preferences.

• Avalon Holdings Corporation was formed in 1998 as a spin-off from American Waste Services, Inc.
• The company operates primarily in two business segments: waste management services and golf and related operations.
• Waste management services include hazardous and nonhazardous waste disposal brokerage and management, captive landfill management, and salt water injection well operations.
• Waste management services are provided mainly to industrial, commercial, municipal, and governmental customers in selected northeastern and midwestern U.S. markets.
• Golf and related operations include management of four golf courses and related country clubs, a hotel (The Grand Resort), fitness centers, tennis courts, salon and spa services, a dermatology center, dining, banquet and conference facilities.
• Avalon owns and operates several subsidiaries including Avalon Lakes Golf, Inc., Avalon Golf and Country Club, Inc., Avalon Country Club at Sharon, Inc., Avalon Resort and Spa LLC, Avalon Mahoning Sports Center, Inc., Havana Cigar Shop, Inc. (operating Avalon Field Club at New Castle), Avalon Med Spa, LLC, and Avalon Dermatology, LLC.
• Avalon Med Spa, LLC and Avalon Dermatology, LLC are majority-owned variable interest entities (VIEs) with Avalon owning 50.1% and managing operations for a percentage of gross revenues.
• In 2025, one customer accounted for 10% of consolidated net operating revenues and 18% of the waste management services segment revenues; in 2024, no customer accounted for more than 10%.
• For 2025, waste management services represented approximately 55% of total consolidated net operating revenues, and golf and related operations represented approximately 45%.
• The company’s corporate headquarters and several golf and resort facilities are located in Warren, Ohio.
• Avalon’s golf operations generate revenue from membership dues, greens fees, cart rentals, merchandise, food and beverage sales, tennis, swimming, fitness, and salon and spa services.
• The Grand Resort hotel offers amenities including pools, a Roman Bath, fitness center, restaurants, bars, cigar lounge, salon and spa, banquet and conference facilities, and tennis center.
• Avalon has a history of acquiring and renovating golf courses, country clubs, and related recreational facilities.
• Avalon’s waste management segment includes a captive landfill management operation managing one captive disposal facility in Ohio.
• AWMS Holdings, LLC owns and operates salt water injection wells and offers investment opportunities to accredited investors through private placements; Avalon manages operations but is not the majority owner.
• Operations of two salt water injection wells owned by AWMS Rt. 169, LLC are currently suspended based on regulatory decisions.
• Avalon’s financial snapshot as of December 31, 2025, includes cash and equivalents of $4.11 million, current assets of $16.96 million, current liabilities of $16.83 million, resulting in a current ratio of 1.01 and a cash ratio of 0.24.
• Net income for the fiscal year ending December 31, 2025, was $321,000 with basic EPS of $0.08.
• Diluted EPS was $0.23 for the quarter ended September 30, 2023.
• Recent news includes a report of profit rising in Q3 2025.
• Avalon Holdings is listed on the NYSE American exchange under the ticker AWX.
• The company does not rely materially on patents or significant R&D; its operations depend on regulatory permits and licenses.
• Avalon’s business model includes offering investment opportunities in certain subsidiaries to accredited investors, with Avalon maintaining managerial control and consolidating financials.
• The company’s liquidity position as of December 31, 2025, shows modest cash coverage of current liabilities, indicating tight liquidity.
• Avalon’s golf and related operations face challenges in retaining and attracting members, employing marketing strategies such as local TV advertising and membership promotions.
• The company’s waste management services emphasize proper waste identification and handling to minimize liability and costs for customers.
• Avalon’s financial statements reflect lease obligations, capital expenditures, and operating cash flows consistent with its business operations.