What is Aviat Networks, Inc.'s earnings per share (EPS)?

Aviat Networks, Inc. (AVNW) reported diluted earnings per share of $0.19 for fiscal year 2026. This represents a 90.0% 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. (AVNW) Financials

AVNW

FY2026 annual

Revenue $439.7M +1.2% YoY

Net Income $2.5M +89.3% YoY

EPS (Diluted) $0.19 +90.0% YoY

Free Cash Flow $6.1M +184.0% YoY

Market Cap $268.0M as of Oct 8, 2026

Price / Sales 0.6x on $439.7M revenue, FY2026

Price / Earnings 106x on $2.5M net income, FY2026

Price / Book 1.0x on $267.4M equity, Q4 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period FY2026, ended Jul 3, 2026 Reported Aug 27, 2026 Currency USD FYE July

Newest figures come from the 10-K for FY2026, filed Aug 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AVNW SEC filings page.

Aviat Networks, Inc. (AVNW) reported $439.7M in revenue for fiscal year 2026, up 1.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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 FY2026 2026-10-04

Revenue has plateaued near $440M, while shrinking gross margins and thin profits make cash conversion the central operating question.

Operating cash flow recovered in FY2026, and free cash flow returned to positive territory after FY2025's negative result; this is an earnings-quality improvement, not simply a larger accounting profit. Receivables rose materially from FY2024 to FY2026 while revenue changed little, so the cash improvement appears partly dependent on collection timing rather than broad sales acceleration.

Revenue expanded through FY2026, but gross margin compressed from 35.5% in FY2024 to 31.5% in FY2026; added sales therefore produced less gross profit per dollar. The operating-margin recovery to 4.4% in FY2026 is meaningful, yet it remains below FY2024's level.

The balance sheet expanded faster than sales through FY2025: total assets reached $633.3M while FY2025 revenue was $434.6M, pointing to more capital tied to the business. Long-term debt nearly doubled from FY2024 to FY2026 even as the current ratio recovered to 2.0x, so short-term liquidity and long-term financing posture are moving differently.

Financial Health Signals

Financial Health Score 48/100

Scored against operating companies for FY2026. 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 4.4%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 49/100, indicating healthy but not exceptional operating efficiency. This is up from 2.4% the prior year.

Growth

Aviat Networks, Inc.'s revenue grew a modest 1.2% year-over-year to $439.7M. This slow but positive growth earns a score of 44/100.

Leverage

Aviat Networks, Inc. has a moderate D/E ratio of 0.33. This balance of debt and equity financing earns a leverage score of 54/100.

Liquidity

Aviat Networks, Inc.'s current ratio of 1.97 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Aviat Networks, Inc. has a free cash flow margin of 1.4%, earning a moderate score of 31/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Aviat Networks, Inc.'s ROE of 0.9% shows moderate profitability relative to equity, earning a score of 49/100. This is up from 0.5% the prior year.

Altman Z-Score Distress

0.41

Aviat Networks, Inc. scores 0.41, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($268.0M) relative to total liabilities ($331.6M). 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 Neutral

6/9

Aviat Networks, Inc. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

5.34x

For every $1 of reported earnings, Aviat Networks, Inc. generates $5.34 in operating cash flow ($13.6M OCF vs $2.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.51x

Aviat Networks, Inc. earns $2.51 in operating income for every $1 of interest expense ($19.2M vs $7.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$120.9M

YoY+4.8%

QoQ+20.9%

Aviat Networks, Inc. generated $120.9M in revenue in Q4 2026. This represents an increase of 4.8% from the same quarter a year earlier. Against the prior quarter it is up 20.9%.

EBITDA

$7.0M

YoY-31.2%

QoQ+328.0%

Aviat Networks, Inc.'s EBITDA was $7.0M in Q4 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 31.2% from the same quarter a year earlier. Against the prior quarter it is up 328.0%.

Net Income

-$1.3M

YoY-124.6%

QoQ+38.2%

Aviat Networks, Inc. reported -$1.3M in net income in Q4 2026. This represents a decrease of 124.6% from the same quarter a year earlier. Against the prior quarter it is up 38.2%.

EPS (Diluted)

-$0.10

YoY-125.0%

QoQ+37.5%

Aviat Networks, Inc. earned -$0.10 per diluted share (EPS) in Q4 2026. This represents a decrease of 125.0% from the same quarter a year earlier. Against the prior quarter it is up 37.5%.

Cash & Balance Sheet

Free Cash Flow

$2.5M

YoY-70.0%

QoQ+145.9%

Aviat Networks, Inc. generated $2.5M in free cash flow in Q4 2026, representing cash available after capex. This represents a decrease of 70.0% from the same quarter a year earlier. Against the prior quarter it is up 145.9%.

Cash & Debt

$72.8M

YoY+22.0%

QoQ-6.8%

5Y CAGR+8.7%

10Y CAGR+9.1%

Aviat Networks, Inc. held $72.8M in cash against $89.1M in long-term debt as of Q4 2026.

Shares Outstanding

13M

YoY0.0%

QoQ-1.1%

5Y CAGR+2.8%

10Y CAGR+9.3%

Aviat Networks, Inc. had 13M shares outstanding in Q4 2026. That is unchanged from the same quarter a year earlier. Against the prior quarter it is down 1.1%.

Dividends Per Share

Not reported for Q4 2026.

Margins & Returns

Gross Margin

30.8%

YoY-3.4pp

QoQ+1.5pp

Aviat Networks, Inc.'s gross margin was 30.8% in Q4 2026, indicating the percentage of revenue retained after direct costs. This is down 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.5 percentage points.

Operating Margin

4.8%

YoY-2.9pp

QoQ+3.9pp

Aviat Networks, Inc.'s operating margin was 4.8% in Q4 2026, reflecting core business profitability. This is down 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.9 percentage points.

Net Margin

-1.1%

YoY-5.6pp

QoQ+1.0pp

Aviat Networks, Inc.'s net profit margin was -1.1% in Q4 2026, showing the share of revenue converted to profit. This is down 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.0 percentage points.

Return on Equity

-0.5%

YoY-2.4pp

QoQ+0.3pp

Aviat Networks, Inc.'s ROE was -0.5% in Q4 2026, measuring profit generated per dollar of shareholder equity. This is down 2.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.3 percentage points.

Capital Allocation

R&D Spending

$7.2M

YoY-2.6%

QoQ-5.5%

Aviat Networks, Inc. invested $7.2M in research and development in Q4 2026. This represents a decrease of 2.6% from the same quarter a year earlier. Against the prior quarter it is down 5.5%.

Capital Expenditures

$615K

YoY-72.9%

QoQ-83.3%

Aviat Networks, Inc. invested $615K in capex in Q4 2026, funding long-term assets and infrastructure. This represents a decrease of 72.9% from the same quarter a year earlier. Against the prior quarter it is down 83.3%.

Share Buybacks

Not reported for Q4 2026.

AVNW Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AVNW quarterly income statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K
Revenue	$439.7M+1.2%	$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	$301.4M+2.1%	$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	$138.3M-0.8%	$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	$28.4M-20.6%	$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	$88.5M-1.1%	$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	$19.2M+81.9%	$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
EBITDA	$22.5M+41.3%	$15.9M-32.0%	$23.4M	$33.2M+20.3%	$27.6M+255.4%	$7.8M+33.1%	$5.8M-10.4%	$6.5M	-$20.8M-11.3%	-$18.7M+57.1%	-$43.5M-877.6%	$5.6M	-$29.6M+67.7%	-$91.5M
Interest Expense	$7.7M+26.8%	$6.1M+159.2%	$2.3M	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	$10.7M+377.9%	$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	$2.5M+89.3%	$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 (Basic)	$0.20+81.8%	$0.11-87.5%	$0.88	$1.89-81.1%	$9.98+49800.0%	$0.02-97.8%	$0.91+160.0%	$0.35	-$5.71	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$0.19+90.0%	$0.10-88.4%	$0.86	$1.79-81.0%	$9.42	$0.02-97.7%	$0.87	$0.33	-$5.71	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	13M+1.6%	13M+3.0%	12M	12M+1.1%	12M	11M-2.7%	11M	6M	5M	N/A	N/A	N/A	N/A	N/A

Metric	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Revenue	$120.9M+4.8%	$100.0M-11.2%	$111.5M-5.7%	$107.3M+21.4%	$115.3M-1.1%	$112.6M+1.6%	$118.2M+26.2%	$88.4M+1.7%
Cost of Revenue	$83.6M+10.2%	$70.7M-3.6%	$75.4M-2.5%	$71.7M+4.4%	$75.9M+0.5%	$73.3M-1.9%	$77.3M+34.8%	$68.6M+23.2%
Gross Profit	$37.2M-5.6%	$29.3M-25.5%	$36.1M-11.7%	$35.7M+80.2%	$39.5M-4.1%	$39.3M+8.9%	$40.9M+12.5%	$19.8M-36.6%
R&D Expenses	$7.2M-2.6%	$7.7M-0.6%	$6.4M-37.3%	$7.1M-31.8%	$7.4M-32.3%	$7.7M-27.5%	$10.2M+21.8%	$10.4M+62.0%
SG&A Expenses	$22.4M+5.9%	$20.4M-7.9%	$22.4M+5.2%	$23.4M-6.3%	$21.1M-8.3%	$22.1M+9.5%	$21.3M-5.6%	$24.9M+29.7%
Operating Income	$5.8M-34.4%	$939K-89.9%	$7.3M-8.6%	$5.2M+133.3%	$8.9M+62.8%	$9.3M+64.0%	$8.0M+135.2%	-$15.6M-418.4%
EBITDA	$7.0M-31.2%	$1.6M-84.4%	$8.2M-13.5%	$5.7M+139.7%	$10.2M+60.2%	$10.5M+57.3%	$9.5M+120.5%	-$14.3M-335.2%
Interest Expense	$2.2M+22.4%	$1.8M+18.7%	$1.9M+20.8%	$1.7M+53.5%	$1.8M+97.2%	$1.6M+67.8%	$1.6M+301.0%	$1.1M+1026.3%
Income Tax	$6.2M+24.0%	-$244K-121.4%	$2.4M+47.9%	$2.3M+142.5%	$5.0M+62.8%	$1.1M+41.6%	$1.6M-12.0%	-$5.5M-1376.4%
Net Income	-$1.3M-124.6%	-$2.1M-158.5%	$5.7M+27.2%	$162K+101.4%	$5.2M+235.5%	$3.5M-8.8%	$4.5M+152.0%	-$11.9M-434.0%
EPS (Basic)	-$0.10-124.4%	-$0.16-157.1%	$0.44+25.7%	$0.01+101.1%	$0.41+241.7%	$0.28-9.7%	$0.35+133.3%	-$0.94-403.2%
EPS (Diluted)	-$0.10-125.0%	-$0.16-159.3%	$0.44+25.7%	$0.01+101.1%	$0.40+263.6%	$0.27-10.0%	$0.35+133.3%	-$0.94-413.3%
Diluted Shares (Avg)	N/A	13M+0.6%	13M+1.7%	13M+2.6%	N/A	13M+0.5%	13M+4.5%	13M+5.9%

AVNW Balance Sheet

AVNW quarterly balance sheet

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K
Total Assets	$599.0M-5.4%	$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	$439.2M-5.2%	$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	$72.8M+22.0%	$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
Short-Term Investments	$0	$0	$0	$10.9M	$0	$0	$0	$0	$222K	$0	$0	$0	$0	$0
Inventory	N/A	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	$192.2M+6.6%	$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
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$19.4M-1.2%	$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	$331.6M-10.4%	$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	$223.2M-20.9%	$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
Non-Current Liabilities	$108.4M+23.3%	$87.9M+45.4%	$60.5M	$17.7M-1.5%	$17.9M+4.7%	$17.1M+10.9%	$15.5M+28.1%	$12.1M	$12.7M-30.2%	$18.2M-7.6%	$19.7M-20.6%	$24.8M	$15.1M	N/A
Long-Term Debt	$89.1M+29.2%	$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	$267.4M+1.6%	$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	-$574.6M+0.4%	-$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	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Total Assets	$599.0M-5.4%	$616.5M-1.9%	$659.4M+11.0%	$643.3M+8.9%	$633.3M+18.3%	$628.3M+28.1%	$594.1M+18.8%	$590.9M+59.6%
Current Assets	$439.2M-5.2%	$450.4M-1.4%	$493.9M+16.8%	$474.5M+11.1%	$463.6M+14.4%	$456.6M+26.0%	$422.9M+15.2%	$427.3M+74.8%
Cash & Equivalents	$72.8M+22.0%	$78.1M+58.1%	$86.5M+64.4%	$64.8M+27.0%	$59.7M-7.6%	$49.4M-15.1%	$52.6M+14.5%	$51.0M+43.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0-100.0%	$0	$0
Accounts Receivable	$192.2M+6.6%	$187.6M+5.4%	$203.1M+21.9%	$180.5M+6.8%	$180.3M+14.1%	$178.0M+28.7%	$166.7M+11.2%	$169.0M+78.8%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$19.4M-1.2%	$19.5M+1.5%	$19.5M+6.6%	$19.5M+28.6%	$19.7M+139.2%	$19.2M+133.5%	$18.3M+224.2%	$15.2M+196.4%
Total Liabilities	$331.6M-10.4%	$344.8M-7.4%	$387.7M+12.5%	$379.7M+10.5%	$370.1M+32.5%	$372.2M+60.6%	$344.5M+40.0%	$343.7M+138.5%
Current Liabilities	$223.2M-20.9%	$226.3M-19.8%	$267.1M+5.9%	$258.2M+4.0%	$282.2M+28.9%	$282.1M+64.8%	$252.3M+37.3%	$248.2M+92.1%
Non-Current Liabilities	$108.4M+23.3%	$118.5M+31.5%	$120.6M+30.8%	$121.5M+27.1%	$87.9M+45.4%	$90.1M+48.5%	$92.2M+47.7%	$95.5M+539.7%
Long-Term Debt	$89.1M+29.2%	$98.7M+40.5%	$100.9M+41.9%	$102.0M+26.0%	$69.0M+50.1%	$70.2M+50.8%	$71.1M+50.9%	$81.0M
Total Equity	$267.4M+1.6%	$271.8M+6.1%	$271.6M+8.8%	$263.6M+6.7%	$263.2M+2.9%	$256.1M0.0%	$249.6M-0.6%	$247.1M+10.1%
Retained Earnings	-$574.6M+0.4%	-$573.4M+1.5%	-$571.3M+2.5%	-$577.0M+2.3%	-$577.2M+0.2%	-$582.4M-0.8%	-$585.9M-0.8%	-$590.4M-1.1%

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

AVNW Cash Flow Statement

AVNW quarterly cash flow statement

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K
Operating Cash Flow	$13.6M+137.0%	$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
Depreciation & Amortization	$3.3M-39.0%	$5.3M+33.8%	$4.0M	$4.5M-17.1%	$5.4M+22.7%	$4.4M-1.8%	$4.5M-14.1%	$5.2M	$6.6M-8.2%	$7.2M+2.0%	$7.1M+26.8%	$5.6M	$8.6M-57.0%	$20.0M
Stock-Based Compensation	$6.2M-12.2%	$7.1M-3.7%	$7.3M	$3.8M+31.3%	$2.9M+73.3%	$1.7M-2.1%	$1.7M-26.9%	$2.4M	$1.8M-16.0%	$2.2M-36.1%	$3.4M-46.5%	$6.4M	$4.8M+50.0%	$3.2M
Capital Expenditures	$7.5M-42.4%	$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	$6.1M+184.0%	-$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	-$7.3M+74.3%	-$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	$6.3M-66.0%	$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	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Operating Cash Flow	$3.1M-70.6%	-$1.7M-204.9%	$23.9M+15.3%	-$11.7M+56.8%	$10.5M+26.5%	$1.6M-89.4%	$20.8M+393.5%	-$27.2M-294.3%
Depreciation & Amortization	$1.2M-16.1%	$700K-41.7%	$900K-40.0%	$463K-64.8%	$1.4M+50.9%	$1.2M+19.5%	$1.5M+65.7%	$1.3M+12.8%
Stock-Based Compensation	N/A	$1.6M-20.5%	$1.3M-31.7%	$1.6M-6.6%	N/A	$2.0M+5.4%	$2.0M+8.2%	$1.7M-9.3%
Capital Expenditures	$615K-72.9%	$3.7M+31.8%	$1.4M-42.1%	$1.7M-68.1%	$2.3M+180.2%	$2.8M+462.4%	$2.5M+281.4%	$5.4M+656.1%
Free Cash Flow	$2.5M-70.0%	-$5.4M-360.1%	$22.5M+23.1%	-$13.5M+58.7%	$8.2M+9.9%	-$1.2M-107.9%	$18.3M+336.5%	-$32.6M-345.7%
Investing Cash Flow	$497K+121.9%	-$4.7M-66.7%	-$1.4M+37.2%	-$1.7M+91.8%	-$2.3M-739.6%	-$2.8M-96.6%	-$2.3M+93.0%	-$21.2M-2853.3%
Financing Cash Flow	-$9.5M-963.1%	-$1.3M-27.4%	-$1.4M+91.1%	$18.5M-46.0%	$1.1M+289.4%	-$1.0M-1.5%	-$15.7M-131.3%	$34.3M+18949.4%
Share Buybacks	N/A	$500K+405.1%	N/A	N/A	N/A	$99K	N/A	N/A

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

AVNW Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AVNW quarterly financial ratios

Metric	FY2610-K	FY2510-K	FY2410-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1110-K	FY1010-K
Gross Margin	31.4%-0.6pp	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	4.4%+1.9pp	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	0.6%+0.3pp	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	0.9%+0.4pp	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	0.4%+0.2pp	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	1.97+0.3x	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	0.33+0.1x	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
Asset Turnover	0.730.0x	0.69-0.1x	0.76	0.940.0x	0.92-0.4x	1.33-0.1x	1.44-0.1x	1.55	1.62+0.1x	1.49+0.1x	1.37-0.2x	1.54	1.18	N/A
FCF Margin	1.4%+3.1pp	-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	Q4'2610-K	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Gross Margin	30.8%-3.4pp	29.3%-5.6pp	32.4%-2.2pp	33.2%+10.8pp	34.2%-1.0pp	34.9%+2.3pp	34.6%-4.2pp	22.4%-13.5pp
Operating Margin	4.8%-2.9pp	0.9%-7.3pp	6.5%-0.2pp	4.8%+22.4pp	7.7%+3.0pp	8.3%+3.1pp	6.7%+3.1pp	-17.6%-23.2pp
Net Margin	-1.1%-5.6pp	-2.1%-5.2pp	5.1%+1.3pp	0.1%+13.6pp	4.5%+3.2pp	3.1%-0.4pp	3.8%+1.9pp	-13.4%-17.5pp
Return on Equity	-0.5%-2.4pp	-0.8%-2.1pp	2.1%+0.3pp	0.1%+4.9pp	2.0%+1.4pp	1.4%-0.1pp	1.8%+1.1pp	-4.8%-6.4pp
Return on Assets	-0.2%-1.0pp	-0.3%-0.9pp	0.9%+0.1pp	0.0%+2.0pp	0.8%+0.5pp	0.6%-0.2pp	0.8%+0.4pp	-2.0%-3.0pp
Current Ratio	1.97+0.3x	1.99+0.4x	1.85+0.2x	1.84+0.1x	1.64-0.2x	1.62-0.5x	1.68-0.3x	1.72-0.2x
Debt-to-Equity	0.33+0.1x	0.36+0.1x	0.37+0.1x	0.39+0.1x	0.26+0.1x	0.27+0.1x	0.28+0.1x	0.33-0.3x
Asset Turnover	0.200.0x	0.160.0x	0.170.0x	0.170.0x	0.180.0x	0.180.0x	0.200.0x	0.15-0.1x
FCF Margin	2.0%-5.1pp	-5.4%-4.4pp	20.2%+4.7pp	-12.6%+24.3pp	7.1%+0.7pp	-1.0%-14.4pp	15.4%+23.7pp	-36.9%-52.1pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Aviat Networks, Inc. AVNW	FY2026	$439.7M	$2.5M	0.6%	$268.0M	48/100
Frequency Electronics, Inc. FEIM	FY2026	$63.2M	-$903	0.0%	$982.2M	41/100
Gilat Satellite Networks Ltd GILT	FY2025	$451.7M	$20.7M	4.6%	$710.2M	66/100
Clearfield, Inc. CLFD	FY2025	$150.1M	-$8.1M	-5.4%	$458.3M	50/100
AudioCodes Ltd AUDC	FY2025	$245.6M	$9.0M	3.6%	$263.0M	51/100
ADTRAN Holdings, Inc. ADTN	FY2025	$1.1B	-$45.7M	-4.2%	$620.9M	27/100

Where Aviat Networks, Inc. Ranks

Frequently Asked Questions

What is Aviat Networks, Inc.'s annual revenue?

Aviat Networks, Inc. (AVNW) reported $439.7M in total revenue for fiscal year 2026. This represents a 1.2% 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 1.2% year-over-year, from $434.6M to $439.7M in fiscal year 2026.

Is Aviat Networks, Inc. profitable?

Yes, Aviat Networks, Inc. (AVNW) reported a net income of $2.5M in fiscal year 2026, with a net profit margin of 0.6%.

What is Aviat Networks, Inc.'s EBITDA?

Aviat Networks, Inc. (AVNW) had EBITDA of $22.5M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Aviat Networks, Inc. have?

As of fiscal year 2026, Aviat Networks, Inc. (AVNW) had $72.8M in cash and equivalents against $89.1M in long-term debt.

What is Aviat Networks, Inc.'s gross margin?

Aviat Networks, Inc. (AVNW) had a gross margin of 31.4% in fiscal year 2026, 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 4.4% in fiscal year 2026, 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 0.6% in fiscal year 2026, 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 0.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Aviat Networks, Inc.'s free cash flow?

Aviat Networks, Inc. (AVNW) generated $6.1M in free cash flow during fiscal year 2026. This represents a 184.0% 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 $13.6M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Aviat Networks, Inc.'s total assets?

Aviat Networks, Inc. (AVNW) had $599.0M in total assets as of fiscal year 2026, including both current and long-term assets.

What are Aviat Networks, Inc.'s capital expenditures?

Aviat Networks, Inc. (AVNW) invested $7.5M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Aviat Networks, Inc. spend on research and development?

Aviat Networks, Inc. (AVNW) invested $28.4M in research and development during fiscal year 2026.

How many shares does Aviat Networks, Inc. have outstanding?

Aviat Networks, Inc. (AVNW) had 13M shares outstanding as of fiscal year 2026.

What is Aviat Networks, Inc.'s current ratio?

Aviat Networks, Inc. (AVNW) had a current ratio of 1.97 as of fiscal year 2026, 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 0.33 as of fiscal year 2026, 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 0.4% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Aviat Networks, Inc.'s P/E ratio?

Aviat Networks, Inc. (AVNW) trades at 106x earnings, its market capitalization divided by net income of $2.5M net income, FY2026. The market capitalization is $268.0M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Aviat Networks, Inc.'s price-to-sales ratio?

Aviat Networks, Inc. (AVNW) trades at 0.6x sales, its market capitalization divided by revenue of $439.7M revenue, FY2026. The market capitalization is $268.0M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Aviat Networks, Inc.'s Altman Z-Score?

Aviat Networks, Inc. (AVNW) has an Altman Z-Score of 0.41, 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 6 out of 9, indicating neutral 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 5.34x, 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.

Can Aviat Networks, Inc. cover its interest payments?

Aviat Networks, Inc. (AVNW) has an interest coverage ratio of 2.51x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Aviat Networks, Inc.?

Aviat Networks, Inc. (AVNW) scores 48 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.