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.

Aviat Networks Inc Financials

AVNW

FY2025 annual

Revenue $434.6M +6.5% YoY

Net Income $1.3M -87.5% YoY

EPS (Diluted) $0.10 -88.4% YoY

Free Cash Flow -$7.2M -126.0% YoY

Source SEC Filings (10-K/10-Q) Data as of Mar 27, 2026 Currency USD FYE June

Aviat Networks Inc (AVNW) reported $434.6M in revenue for fiscal year 2025, up 6.5% from the prior fiscal year. This page shows its 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).

Rhea AI AVNW FY2025 2026-08-15

Aviat’s cash-hungry growth now combines margin compression with heavier working-capital demands and reinvestment than before.

FY2025 revenue reached $434.6M while gross margin fell to 32.1%, indicating that added sales were less profitable rather than simply larger. Operating cash flow fell to $5.7M as receivables reached $180.3M; this cash-conversion gap indicates that growth was financed partly through customer balances instead of internally generated cash.

Gross margin declined from 35.5% in FY2024 to 32.1% in FY2025, reducing the contribution available to cover overhead. Operating margin then fell from 4.8% to 2.4%, showing that the expanded cost structure absorbed a larger share of each sales dollar.

Free cash flow swung from $27.9M in FY2024 to -$7.2M in FY2025, so reported profitability did not translate into funding for the business. Capital expenditures rose from $2.7M to $13.0M, making reinvestment an additional source of the cash drain alongside working-capital pressure.

Financial Health Signals

Financial Health Score 54/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Aviat Networks Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Aviat Networks Inc has an operating margin of 2.4%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 52/100, indicating healthy but not exceptional operating efficiency. This is down from 4.8% the prior year.

Growth

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 81/100.

Leverage

Aviat Networks Inc has a moderate D/E ratio of 0.26. This balance of debt and equity financing earns a leverage score of 56/100.

Liquidity

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.

Cash Flow

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 33/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Aviat Networks Inc's ROE of 0.5% shows moderate profitability relative to equity, earning a score of 53/100. This is down from 4.2% the prior year.

Altman Z-Score Distress

0.25

Aviat Networks Inc scores 0.25, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($269.5M) relative to total liabilities ($370.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak

3/9

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.

Earnings Quality Cash-Backed

4.27x

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

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Earnings & Revenue

Revenue

$434.6M

YoY+6.5%

5Y CAGR+12.3%

10Y CAGR-0.8%

Aviat Networks Inc generated $434.6M in revenue in fiscal year 2025. This represents an increase of 6.5% from the prior year.

EBITDA

$15.9M

YoY-32.0%

5Y CAGR+22.2%

10Y CAGR+11.0%

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.

Net Income

$1.3M

YoY-87.5%

5Y CAGR-32.7%

Aviat Networks Inc reported $1.3M in net income in fiscal year 2025. This represents a decrease of 87.5% from the prior year.

EPS (Diluted)

$0.10

YoY-88.4%

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.

Cash & Balance Sheet

Free Cash Flow

-$7.2M

YoY-126.0%

Aviat Networks Inc recorded an outflow of $7.2M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 126.0% from the prior year.

Cash & Debt

$59.7M

YoY-7.6%

5Y CAGR+13.3%

10Y CAGR-4.0%

Aviat Networks Inc held $59.7M in cash against $69.0M in long-term debt as of fiscal year 2025.

Shares Outstanding

13M

YoY+0.8%

Aviat Networks Inc had 13M shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

32.1%

YoY-3.4pp

5Y CAGR-0.4pp

10Y CAGR+2.7pp

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.

Operating Margin

2.4%

YoY-2.3pp

5Y CAGR+1.9pp

10Y CAGR+2.4pp

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.

Net Margin

0.3%

YoY-2.3pp

5Y CAGR-3.7pp

10Y CAGR+3.9pp

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.

Return on Equity

0.5%

YoY-3.7pp

5Y CAGR-13.1pp

10Y CAGR+11.6pp

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.

Capital Allocation

R&D Spending

$35.8M

YoY-1.8%

5Y CAGR+11.1%

10Y CAGR-1.0%

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.

Capital Expenditures

$13.0M

YoY+384.9%

5Y CAGR+19.8%

10Y CAGR+2.2%

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.

Share Buybacks

Not reported for fiscal year 2025.

AVNW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AVNW annual income statement

Metric	TTM	FY25	FY24	FY22	FY21	FY20	FY19	FY18	FY16	FY15	FY14	FY13	FY11	FY10
Revenue	$434.1M	$434.6M+6.5%	$408.1M	$303.0M+10.2%	$274.9M+15.2%	$238.6M-2.1%	$243.9M+0.6%	$242.5M	$268.7M-20.0%	$335.9M-2.9%	$346.0M-26.6%	$471.3M	$452.1M-2.9%	$465.5M
Cost of Revenue	$293.6M	$295.2M+12.1%	$263.4M	$193.7M+12.4%	$172.3M+11.9%	$153.9M-6.5%	$164.6M+1.6%	$162.0M	$207.0M-18.9%	$255.2M-2.2%	$260.8M-21.6%	$332.9M	$324.0M-2.6%	$332.7M
Gross Profit	$140.5M	$139.4M-3.7%	$144.7M	$109.2M+6.5%	$102.6M+21.2%	$84.7M+6.8%	$79.3M-1.5%	$80.5M	$61.7M-23.5%	$80.7M-5.3%	$85.2M-38.4%	$138.4M	$128.1M-3.5%	$132.8M
R&D Expenses	$28.6M	$35.8M-1.8%	$36.4M	$22.6M+3.6%	$21.8M+13.1%	$19.3M-8.7%	$21.1M+6.9%	$19.8M	$20.8M-18.0%	$25.4M-28.5%	$35.5M-10.0%	$39.4M	$40.5M+30.2%	$31.1M
SG&A Expenses	$87.3M	$89.5M+5.2%	$85.0M	$57.7M+2.4%	$56.3M-2.9%	$58.0M+3.4%	$56.1M-3.6%	$58.2M	$65.9M-13.3%	$76.0M-14.4%	$88.8M-7.0%	$95.5M	$107.6M-20.1%	$134.7M
Operating Income	$22.3M	$10.6M-45.5%	$19.4M	$28.7M+29.4%	$22.2M+557.5%	$3.4M+146.9%	$1.4M+3.9%	$1.3M	-$27.4M-5.8%	-$25.9M+48.8%	-$50.6M	$0	-$38.2M+65.7%	-$111.5M
Interest Expense	N/A	N/A	N/A	N/A	$0-100.0%	$54K-47.1%	$102K+251.7%	$29K	$104K-73.2%	$388K-0.3%	$389K-51.4%	$800K	$2.2M0.0%	$2.2M
Income Tax	$9.5M	$2.2M-63.6%	$6.1M	$9.3M+110.6%	-$87.7M-2640.5%	$3.5M+142.2%	-$8.2M-690.3%	-$1.0M	$1.6M+224.8%	-$1.3M-189.4%	$1.5M-89.0%	$13.3M	$14.1M+471.1%	-$3.8M
Net Income	$9.0M	$1.3M-87.5%	$10.8M	$21.2M-80.8%	$110.1M+42755.6%	$257K-97.4%	$9.7M+427.8%	$1.8M	-$29.9M-21.4%	-$24.6M+51.8%	-$51.1M-206.0%	-$16.7M	-$90.5M+30.5%	-$130.2M
EPS (Diluted)	—	$0.10-88.4%	$0.86	$1.79-81.0%	$9.42+47000.0%	$0.02	$0.87	$0.33	-$5.71	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Revenue	$100.0M-10.3%	$111.5M+3.9%	$107.3M-7.0%	$115.3M+2.4%	$112.6M-4.7%	$118.2M+33.7%	$88.4M-24.2%	$116.7M
Cost of Revenue	$70.7M-6.2%	$75.4M+5.2%	$71.7M-5.6%	$75.9M+3.4%	$73.3M-5.1%	$77.3M+12.6%	$68.6M-9.1%	$75.5M
Gross Profit	$29.3M-18.9%	$36.1M+1.2%	$35.7M-9.6%	$39.5M+0.4%	$39.3M-3.9%	$40.9M+106.6%	$19.8M-51.9%	$41.1M
R&D Expenses	$7.7M+19.5%	$6.4M-9.7%	$7.1M-4.5%	$7.4M-3.5%	$7.7M-24.6%	$10.2M-1.8%	$10.4M-5.3%	$11.0M
SG&A Expenses	$20.4M-9.0%	$22.4M-4.2%	$23.4M+10.6%	$21.1M-4.5%	$22.1M+4.0%	$21.3M-14.7%	$24.9M+8.2%	$23.1M
Operating Income	$939K-87.1%	$7.3M+40.4%	$5.2M-41.6%	$8.9M-4.5%	$9.3M+16.6%	$8.0M+151.2%	-$15.6M-385.4%	$5.5M
Income Tax	-$244K-110.1%	$2.4M+2.7%	$2.3M-53.0%	$5.0M+336.6%	$1.1M-29.8%	$1.6M+129.5%	-$5.5M-280.2%	$3.1M
Net Income	-$2.1M-136.1%	$5.7M+3429.6%	$162K-96.9%	$5.2M+47.3%	$3.5M-21.5%	$4.5M+137.8%	-$11.9M-866.9%	$1.5M
EPS (Diluted)	-$0.16-136.4%	$0.44+4300.0%	$0.01	N/A	$0.27-22.9%	$0.35+137.2%	-$0.94	N/A

TTM is the trailing twelve months, Q4 FY2025 through Q3 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

No annual filing on record for: FY2012, FY2017, FY2023.

AVNW Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AVNW annual balance sheet

Metric	FY25	FY24	FY22	FY21	FY20	FY19	FY18	FY16	FY15	FY14	FY13	FY11	FY10
Total Assets	$633.3M+18.3%	$535.2M	$323.9M+8.8%	$297.7M+65.5%	$179.8M+6.3%	$169.2M+8.4%	$156.1M	$166.1M-26.1%	$224.7M-11.3%	$253.2M-17.2%	$305.8M	$383.9M	N/A
Current Assets	$463.6M+14.4%	$405.2M	$206.4M+21.2%	$170.2M+21.6%	$139.9M+11.1%	$126.0M+2.0%	$123.5M	$140.4M-26.5%	$191.1M-12.4%	$218.2M-20.5%	$274.3M	$350.3M	N/A
Cash & Equivalents	$59.7M-7.6%	$64.6M	$36.9M-23.1%	$47.9M+15.2%	$41.6M+30.3%	$31.9M-14.6%	$37.4M	$30.5M-12.3%	$34.7M-28.8%	$48.8M-45.8%	$90.0M	$98.2M-30.7%	$141.7M
Inventory	N/A	N/A	N/A	N/A	N/A	$8.6M-12.3%	$9.8M	$27.3M-17.1%	$32.9M-13.6%	$38.1M+8.9%	$35.0M	$50.6M	N/A
Accounts Receivable	$180.3M+14.1%	$158.0M	$73.2M+52.0%	$48.1M+7.8%	$44.7M-14.0%	$51.9M+14.0%	$45.6M	$63.4M-24.0%	$83.5M+8.2%	$77.2M-10.5%	$86.3M	N/A	N/A
Goodwill	$19.7M+139.2%	$8.2M	$0	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0	$5.6M	N/A
Total Liabilities	$370.1M+32.5%	$279.3M	$122.2M+6.9%	$114.3M+2.9%	$111.1M+13.8%	$97.7M-0.9%	$98.5M	$112.7M-20.1%	$140.9M-0.3%	$141.3M-9.4%	$155.9M	$206.2M	N/A
Current Liabilities	$282.2M+28.9%	$218.9M	$104.5M+8.4%	$96.4M+2.6%	$94.0M+14.3%	$82.2M-4.9%	$86.5M	$99.9M-18.5%	$122.7M+0.9%	$121.6M-7.2%	$131.1M	$191.1M	N/A
Long-Term Debt	$69.0M+50.1%	$46.0M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$6.0M	N/A
Total Equity	$263.2M+2.9%	$255.9M	$201.8M+10.0%	$183.3M+166.9%	$68.7M-4.0%	$71.5M+24.3%	$57.5M	$53.1M-36.6%	$83.7M-25.2%	$111.9M-25.4%	$149.9M	$177.7M-32.5%	$263.2M
Retained Earnings	-$577.2M+0.2%	-$578.5M	-$599.4M+3.4%	-$620.6M+15.1%	-$730.7M0.0%	-$731.0M+1.3%	-$740.7M	-$747.4M-4.2%	-$717.5M-3.6%	-$692.8M-6.4%	-$650.9M	-$611.8M	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$616.5M-6.5%	$659.4M+2.5%	$643.3M+1.6%	$633.3M+0.8%	$628.3M+5.8%	$594.1M+0.6%	$590.9M+10.4%	$535.2M
Current Assets	$450.4M-8.8%	$493.9M+4.1%	$474.5M+2.4%	$463.6M+1.5%	$456.6M+8.0%	$422.9M-1.0%	$427.3M+5.4%	$405.2M
Cash & Equivalents	$78.1M-9.6%	$86.5M+33.4%	$64.8M+8.6%	$59.7M+20.8%	$49.4M-6.0%	$52.6M+3.0%	$51.0M-21.0%	$64.6M
Accounts Receivable	$187.6M-7.6%	$203.1M+12.6%	$180.5M+0.1%	$180.3M+1.3%	$178.0M+6.8%	$166.7M-1.4%	$169.0M+7.0%	$158.0M
Goodwill	$19.5M-0.4%	$19.5M+0.3%	$19.5M-0.9%	$19.7M+2.4%	$19.2M+4.7%	$18.3M+21.0%	$15.2M+84.4%	$8.2M
Total Liabilities	$344.8M-11.1%	$387.7M+2.1%	$379.7M+2.6%	$370.1M-0.6%	$372.2M+8.0%	$344.5M+0.2%	$343.7M+23.1%	$279.3M
Current Liabilities	$226.3M-15.3%	$267.1M+3.4%	$258.2M-8.5%	$282.2M0.0%	$282.1M+11.8%	$252.3M+1.6%	$248.2M+13.4%	$218.9M
Long-Term Debt	$98.7M-2.2%	$100.9M-1.1%	$102.0M+48.0%	$69.0M-1.8%	$70.2M-1.3%	$71.1M-12.2%	$81.0M+76.2%	$46.0M
Total Equity	$271.8M+0.1%	$271.6M+3.0%	$263.6M+0.2%	$263.2M+2.8%	$256.1M+2.6%	$249.6M+1.0%	$247.1M-3.4%	$255.9M
Retained Earnings	-$573.4M-0.4%	-$571.3M+1.0%	-$577.0M0.0%	-$577.2M+0.9%	-$582.4M+0.6%	-$585.9M+0.8%	-$590.4M-2.1%	-$578.5M

No annual filing on record for: FY2012, FY2017, FY2023.

AVNW Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AVNW annual cash flow statement

Metric	TTM	FY25	FY24	FY22	FY21	FY20	FY19	FY18	FY16	FY15	FY14	FY13	FY11	FY10
Operating Cash Flow	$21.0M	$5.7M-81.3%	$30.5M	$2.8M-83.9%	$17.3M-1.1%	$17.5M+494.2%	$2.9M-64.1%	$8.2M	$356K+103.7%	-$9.6M+67.2%	-$29.3M-448.2%	$8.4M	-$41.5M-278.1%	$23.3M
Capital Expenditures	$9.1M	$13.0M+384.9%	$2.7M	$1.8M-37.1%	$2.8M-38.2%	$4.6M-12.2%	$5.2M-20.1%	$6.6M	$1.6M-57.4%	$3.7M-60.8%	$9.4M-9.5%	$10.4M	$7.2M-44.2%	$12.9M
Free Cash Flow	$11.9M	-$7.2M-126.0%	$27.9M	$997K-93.1%	$14.5M+12.2%	$12.9M+659.7%	-$2.3M-239.9%	$1.6M	-$1.2M+90.8%	-$13.3M+65.6%	-$38.7M-1833.3%	-$2.0M	-$48.7M-568.3%	$10.4M
Investing Cash Flow	-$10.1M	-$28.5M+19.0%	-$35.2M	-$7.8M-173.5%	-$2.8M+38.2%	-$4.6M+12.2%	-$5.2M+16.7%	-$6.3M	-$1.8M+51.4%	-$3.7M+60.8%	-$9.4M+10.3%	-$10.5M	-$4.2M+70.6%	-$14.3M
Financing Cash Flow	$16.9M	$18.7M-61.6%	$48.7M	-$4.9M+39.4%	-$8.0M-216.2%	-$2.5M+13.8%	-$3.0M-24700.0%	$12K	$13K-99.5%	$2.9M+202.7%	-$2.8M+28.3%	-$3.9M	$1.2M+122.6%	-$5.3M
Share Buybacks	N/A	N/A	N/A	$0	$0-100.0%	$1.8M-23.5%	$2.3M+28850.0%	$8K	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	-$1.7M-107.1%	$23.9M+303.7%	-$11.7M-211.7%	$10.5M+547.2%	$1.6M-92.2%	$20.8M+176.4%	-$27.2M-426.9%	$8.3M
Capital Expenditures	$3.7M+155.7%	$1.4M-16.6%	$1.7M-23.8%	$2.3M-18.9%	$2.8M+12.4%	$2.5M-54.1%	$5.4M+570.1%	$809K
Free Cash Flow	-$5.4M-124.0%	$22.5M+266.9%	-$13.5M-263.4%	$8.2M+804.0%	-$1.2M-106.4%	$18.3M+156.0%	-$32.6M-534.4%	$7.5M
Investing Cash Flow	-$4.7M-223.3%	-$1.4M+16.6%	-$1.7M+23.8%	-$2.3M+18.9%	-$2.8M-21.8%	-$2.3M+89.2%	-$21.2M-7742.6%	-$270K
Financing Cash Flow	-$1.3M+5.7%	-$1.4M-107.5%	$18.5M+1589.9%	$1.1M+206.1%	-$1.0M+93.4%	-$15.7M-145.7%	$34.3M+6032.4%	-$578K
Share Buybacks	$500K	N/A	N/A	N/A	$99K	N/A	N/A	N/A

Not reported in any period shown, so not listed: Dividends Paid.

No annual filing on record for: FY2012, FY2017, FY2023.

AVNW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

AVNW annual financial ratios

Metric	FY25	FY24	FY22	FY21	FY20	FY19	FY18	FY16	FY15	FY14	FY13	FY11	FY10
Gross Margin	32.1%-3.4pp	35.5%	36.1%-1.3pp	37.3%+1.8pp	35.5%+3.0pp	32.5%-0.7pp	33.2%	23.0%-1.1pp	24.0%-0.6pp	24.6%-4.8pp	29.4%	28.3%-0.2pp	28.5%
Operating Margin	2.4%-2.3pp	4.8%	9.5%+1.4pp	8.1%+6.7pp	1.4%+0.9pp	0.6%0.0pp	0.5%	-10.2%-2.5pp	-7.7%+6.9pp	-14.6%-14.6pp	0.0%	-8.5%+15.5pp	-23.9%
Net Margin	0.3%-2.3pp	2.6%	7.0%-33.1pp	40.1%+40.0pp	0.1%-3.9pp	4.0%+3.2pp	0.8%	-11.1%-3.8pp	-7.3%+7.4pp	-14.8%-11.2pp	-3.5%	-20.0%+8.0pp	-28.0%
Return on Equity	0.5%-3.7pp	4.2%	10.5%-49.6pp	60.1%+59.7pp	0.4%-13.2pp	13.6%+10.4pp	3.2%	-56.3%-26.9pp	-29.4%+16.3pp	-45.7%-34.5pp	-11.1%	-50.9%-1.5pp	-49.5%
Return on Assets	0.2%-1.8pp	2.0%	6.5%-30.5pp	37.0%+36.9pp	0.1%-5.6pp	5.8%+4.6pp	1.2%	-18.0%-7.0pp	-11.0%+9.2pp	-20.2%-14.7pp	-5.5%	-23.6%	N/A
Current Ratio	1.64-0.2x	1.85	1.98+0.2x	1.77+0.3x	1.490.0x	1.53+0.1x	1.43	1.40-0.2x	1.56-0.2x	1.79-0.3x	2.09	1.83	N/A
Debt-to-Equity	0.26+0.1x	0.18	0.610.0x	0.62-1.0x	1.62+0.3x	1.37-0.3x	1.71	2.12+0.4x	1.68+0.4x	1.26+1.3x	0.00	0.03	N/A
FCF Margin	-1.7%-8.5pp	6.8%	0.3%-4.9pp	5.3%-0.1pp	5.4%+6.3pp	-0.9%-1.6pp	0.7%	-0.4%+3.5pp	-4.0%+7.2pp	-11.2%-10.8pp	-0.4%	-10.8%-13.0pp	2.2%

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Gross Margin	29.3%-3.1pp	32.4%-0.8pp	33.2%-1.0pp	34.2%-0.7pp	34.9%+0.3pp	34.6%+12.2pp	22.4%-12.9pp	35.3%
Operating Margin	0.9%-5.6pp	6.5%+1.7pp	4.8%-2.9pp	7.7%-0.6pp	8.3%+1.5pp	6.7%+24.3pp	-17.6%-22.3pp	4.7%
Net Margin	-2.1%-7.2pp	5.1%+5.0pp	0.1%-4.4pp	4.5%+1.4pp	3.1%-0.7pp	3.8%+17.2pp	-13.4%-14.8pp	1.3%
Return on Equity	-0.8%-2.9pp	2.1%+2.1pp	0.1%-1.9pp	2.0%+0.6pp	1.4%-0.4pp	1.8%+6.6pp	-4.8%-5.4pp	0.6%
Return on Assets	-0.3%-1.2pp	0.9%+0.8pp	0.0%-0.8pp	0.8%+0.3pp	0.6%-0.2pp	0.8%+2.8pp	-2.0%-2.3pp	0.3%
Current Ratio	1.99+0.1x	1.850.0x	1.84+0.2x	1.640.0x	1.62-0.1x	1.680.0x	1.72-0.1x	1.85
Debt-to-Equity	0.360.0x	0.370.0x	0.39+0.1x	0.260.0x	0.270.0x	0.280.0x	0.33+0.1x	0.18
FCF Margin	-5.4%-25.6pp	20.2%+32.7pp	-12.6%-19.7pp	7.1%+8.2pp	-1.0%-16.5pp	15.4%+52.3pp	-36.9%-43.3pp	6.4%

No annual filing on record for: FY2012, FY2017, FY2023.

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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 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) recorded an outflow of $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 0.25, 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 to 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 54 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.