Aviat Networks Inc Financials
This page shows Aviat Networks Inc (AVNW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Aviat Networks Inc has an operating margin of 2.4%, meaning the company retains $2 of operating profit per $100 of revenue. This below-average margin results in a low score of 12/100, suggesting thin profitability after operating expenses. This is down from 4.8% the prior year.
Aviat Networks Inc's revenue grew 6.5% year-over-year to $434.6M, a solid pace of expansion. This earns a growth score of 47/100.
Aviat Networks Inc carries a low D/E ratio of 0.26, meaning only $0.26 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Aviat Networks Inc's current ratio of 1.64 indicates adequate short-term liquidity, earning a score of 46/100. The company can meet its near-term obligations, though with limited headroom.
While Aviat Networks Inc generated $5.7M in operating cash flow, capex of $13.0M consumed most of it, leaving -$7.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Aviat Networks Inc generates a 0.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 2/100. This is down from 4.2% the prior year.
Aviat Networks Inc scores 0.33, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($318.4M) relative to total liabilities ($370.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Aviat Networks Inc passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Aviat Networks Inc generates $4.27 in operating cash flow ($5.7M OCF vs $1.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Aviat Networks Inc generated $434.6M in revenue in fiscal year 2025. This represents an increase of 6.5% from the prior year.
Aviat Networks Inc's EBITDA was $15.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 32.0% from the prior year.
Aviat Networks Inc generated -$7.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 126.0% from the prior year.
Aviat Networks Inc reported $1.3M in net income in fiscal year 2025. This represents a decrease of 87.5% from the prior year.
Aviat Networks Inc earned $0.10 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 88.4% from the prior year.
Aviat Networks Inc held $59.7M in cash against $69.0M in long-term debt as of fiscal year 2025.
Aviat Networks Inc had 13M shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.
Aviat Networks Inc's gross margin was 32.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.4 percentage points from the prior year.
Aviat Networks Inc's operating margin was 2.4% in fiscal year 2025, reflecting core business profitability. This is down 2.3 percentage points from the prior year.
Aviat Networks Inc's net profit margin was 0.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.3 percentage points from the prior year.
Aviat Networks Inc's ROE was 0.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.7 percentage points from the prior year.
Aviat Networks Inc invested $35.8M in research and development in fiscal year 2025. This represents a decrease of 1.8% from the prior year.
Aviat Networks Inc invested $13.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 384.9% from the prior year.
AVNW Income Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $111.5M+3.9% | $107.3M-4.7% | $112.6M-4.7% | $118.2M+33.7% | $88.4M-20.2% | $110.8M+18.3% | $93.7M+7.8% | $86.9M |
| Cost of Revenue | $75.4M+5.2% | $71.7M-2.3% | $73.3M-5.1% | $77.3M+12.6% | $68.6M-8.2% | $74.8M+30.3% | $57.4M+3.0% | $55.7M |
| Gross Profit | $36.1M+1.2% | $35.7M-9.2% | $39.3M-3.9% | $40.9M+106.6% | $19.8M-45.1% | $36.1M-0.7% | $36.3M+16.5% | $31.2M |
| R&D Expenses | $6.4M-9.7% | $7.1M-7.9% | $7.7M-24.6% | $10.2M-1.8% | $10.4M-2.0% | $10.6M+26.6% | $8.4M+30.7% | $6.4M |
| SG&A Expenses | $22.4M-4.2% | $23.4M+5.7% | $22.1M+4.0% | $21.3M-14.7% | $24.9M+23.5% | $20.2M-10.4% | $22.5M+17.2% | $19.2M |
| Operating Income | $7.3M+40.4% | $5.2M-44.2% | $9.3M+16.6% | $8.0M+151.2% | -$15.6M-374.7% | $5.7M+67.2% | $3.4M-30.7% | $4.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $2.4M+2.7% | $2.3M+105.3% | $1.1M-29.8% | $1.6M+129.5% | -$5.5M-784.1% | $806K-56.4% | $1.8M+327.8% | $432K |
| Net Income | $5.7M+3429.6% | $162K-95.4% | $3.5M-21.5% | $4.5M+137.8% | -$11.9M-407.0% | $3.9M+116.9% | $1.8M-49.8% | $3.6M |
| EPS (Diluted) | $0.44+4300.0% | $0.01-96.3% | $0.27-22.9% | $0.35+137.2% | $-0.94-413.3% | $0.30+100.0% | $0.15-50.0% | $0.30 |
AVNW Balance Sheet
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $659.4M+2.5% | $643.3M+2.4% | $628.3M+5.8% | $594.1M+0.6% | $590.9M+20.5% | $490.3M-2.0% | $500.1M+35.1% | $370.3M |
| Current Assets | $493.9M+4.1% | $474.5M+3.9% | $456.6M+8.0% | $422.9M-1.0% | $427.3M+17.9% | $362.5M-1.2% | $367.0M+50.1% | $244.4M |
| Cash & Equivalents | $86.5M+33.4% | $64.8M+31.2% | $49.4M-6.0% | $52.6M+3.0% | $51.0M-12.3% | $58.2M+26.8% | $45.9M+29.5% | $35.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $203.1M+12.6% | $180.5M+1.4% | $178.0M+6.8% | $166.7M-1.4% | $169.0M+22.1% | $138.4M-7.7% | $149.9M+58.6% | $94.5M |
| Goodwill | $19.5M+0.3% | $19.5M+1.5% | $19.2M+4.7% | $18.3M+21.0% | $15.2M+84.4% | $8.2M+45.4% | $5.7M+10.6% | $5.1M |
| Total Liabilities | $387.7M+2.1% | $379.7M+2.0% | $372.2M+8.0% | $344.5M+0.2% | $343.7M+48.3% | $231.8M-5.8% | $246.2M+70.8% | $144.1M |
| Current Liabilities | $267.1M+3.4% | $258.2M-8.5% | $282.1M+11.8% | $252.3M+1.6% | $248.2M+45.0% | $171.1M-6.8% | $183.7M+42.2% | $129.2M |
| Long-Term Debt | $100.9M-1.1% | $102.0M+45.4% | $70.2M-1.3% | $71.1M-12.2% | $81.0M+74.0% | $46.6M-1.3% | $47.2M | N/A |
| Total Equity | $271.6M+3.0% | $263.6M+2.9% | $256.1M+2.6% | $249.6M+1.0% | $247.1M-3.5% | $256.0M+2.0% | $251.0M+11.9% | $224.3M |
| Retained Earnings | -$571.3M+1.0% | -$577.0M+0.9% | -$582.4M+0.6% | -$585.9M+0.8% | -$590.4M-2.2% | -$577.6M+0.6% | -$581.0M+0.5% | -$583.9M |
AVNW Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $23.9M+303.7% | -$11.7M-823.0% | $1.6M-92.2% | $20.8M+176.4% | -$27.2M-277.3% | $15.3M+316.7% | -$7.1M-150.6% | $14.0M |
| Capital Expenditures | $1.4M-16.6% | $1.7M-38.2% | $2.8M+12.4% | $2.5M-54.1% | $5.4M+990.7% | $497K-23.8% | $652K-9.1% | $717K |
| Free Cash Flow | $22.5M+266.9% | -$13.5M-1050.2% | -$1.2M-106.4% | $18.3M+156.0% | -$32.6M-319.8% | $14.8M+291.9% | -$7.7M-158.2% | $13.3M |
| Investing Cash Flow | -$1.4M+16.6% | -$1.7M+38.2% | -$2.8M-21.8% | -$2.3M+89.2% | -$21.2M-1389.1% | -$1.4M+95.7% | -$32.8M-4476.6% | -$717K |
| Financing Cash Flow | -$1.4M-107.5% | $18.5M+1893.0% | -$1.0M+93.4% | -$15.7M-145.7% | $34.3M+3471.6% | -$1.0M-102.0% | $50.1M+27742.2% | $180K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
AVNW Financial Ratios
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.4%-0.8pp | 33.2%-1.7pp | 34.9%+0.3pp | 34.6%+12.2pp | 22.4%-10.2pp | 32.6%-6.2pp | 38.8%+2.9pp | 35.9% |
| Operating Margin | 6.5%+1.7pp | 4.8%-3.4pp | 8.3%+1.5pp | 6.7%+24.3pp | -17.6%-22.7pp | 5.1%+1.5pp | 3.6%-2.0pp | 5.6% |
| Net Margin | 5.1%+5.0pp | 0.1%-3.0pp | 3.1%-0.7pp | 3.8%+17.2pp | -13.4%-16.9pp | 3.5%+1.6pp | 1.9%-2.2pp | 4.1% |
| Return on Equity | 2.1%+2.1pp | 0.1%-1.3pp | 1.4%-0.4pp | 1.8% | N/A | 1.5%+0.8pp | 0.7%-0.9pp | 1.6% |
| Return on Assets | 0.9%+0.8pp | 0.0%-0.5pp | 0.6%-0.2pp | 0.8%+2.8pp | -2.0%-2.8pp | 0.8%+0.4pp | 0.4%-0.6pp | 1.0% |
| Current Ratio | 1.85+0.0 | 1.84+0.2 | 1.62-0.1 | 1.68-0.0 | 1.72-0.4 | 2.12+0.1 | 2.00+0.1 | 1.89 |
| Debt-to-Equity | 0.37-0.0 | 0.39+0.1 | 0.27-0.0 | 0.28-0.0 | 0.33+0.1 | 0.180.0 | 0.19-0.5 | 0.64 |
| FCF Margin | 20.2%+32.7pp | -12.6%-11.5pp | -1.0%-16.5pp | 15.4%+52.3pp | -36.9%-50.2pp | 13.4%+21.6pp | -8.2%-23.5pp | 15.3% |
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Frequently Asked Questions
What is Aviat Networks Inc's annual revenue?
Aviat Networks Inc (AVNW) reported $434.6M in total revenue for fiscal year 2025. This represents a 6.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Aviat Networks Inc's revenue growing?
Aviat Networks Inc (AVNW) revenue grew by 6.5% year-over-year, from $408.1M to $434.6M in fiscal year 2025.
Is Aviat Networks Inc profitable?
Yes, Aviat Networks Inc (AVNW) reported a net income of $1.3M in fiscal year 2025, with a net profit margin of 0.3%.
What is Aviat Networks Inc's earnings per share (EPS)?
Aviat Networks Inc (AVNW) reported diluted earnings per share of $0.10 for fiscal year 2025. This represents a -88.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Aviat Networks Inc's EBITDA?
Aviat Networks Inc (AVNW) had EBITDA of $15.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Aviat Networks Inc have?
As of fiscal year 2025, Aviat Networks Inc (AVNW) had $59.7M in cash and equivalents against $69.0M in long-term debt.
What is Aviat Networks Inc's gross margin?
Aviat Networks Inc (AVNW) had a gross margin of 32.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Aviat Networks Inc's operating margin?
Aviat Networks Inc (AVNW) had an operating margin of 2.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Aviat Networks Inc's net profit margin?
Aviat Networks Inc (AVNW) had a net profit margin of 0.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Aviat Networks Inc's return on equity (ROE)?
Aviat Networks Inc (AVNW) has a return on equity of 0.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Aviat Networks Inc's free cash flow?
Aviat Networks Inc (AVNW) generated -$7.2M in free cash flow during fiscal year 2025. This represents a -126.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Aviat Networks Inc's operating cash flow?
Aviat Networks Inc (AVNW) generated $5.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Aviat Networks Inc's total assets?
Aviat Networks Inc (AVNW) had $633.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Aviat Networks Inc's capital expenditures?
Aviat Networks Inc (AVNW) invested $13.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Aviat Networks Inc spend on research and development?
Aviat Networks Inc (AVNW) invested $35.8M in research and development during fiscal year 2025.
How many shares does Aviat Networks Inc have outstanding?
Aviat Networks Inc (AVNW) had 13M shares outstanding as of fiscal year 2025.
What is Aviat Networks Inc's current ratio?
Aviat Networks Inc (AVNW) had a current ratio of 1.64 as of fiscal year 2025, which is generally considered healthy.
What is Aviat Networks Inc's debt-to-equity ratio?
Aviat Networks Inc (AVNW) had a debt-to-equity ratio of 0.26 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Aviat Networks Inc's return on assets (ROA)?
Aviat Networks Inc (AVNW) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Aviat Networks Inc's Altman Z-Score?
Aviat Networks Inc (AVNW) has an Altman Z-Score of 0.33, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Aviat Networks Inc's Piotroski F-Score?
Aviat Networks Inc (AVNW) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Aviat Networks Inc's earnings high quality?
Aviat Networks Inc (AVNW) has an earnings quality ratio of 4.27x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Aviat Networks Inc?
Aviat Networks Inc (AVNW) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.