NASDAQ : AVNW
Aviat Networks, Inc. — Financial statements
Technology · Communication Equipment · United States
Last price 20.71 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 265.12M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Aviat Networks, Inc. (AVNW) reported revenue of 439.68M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 439.68M | 439.68M | 434.61M | 408.08M | 344.43M | 302.96M |
| Cost of Revenue | 301.39M | 301.39M | 295.17M | 263.35M | 222.05M | 193.72M |
| Gross Profit | 138.29M | 138.29M | 139.44M | 144.73M | 122.38M | 109.23M |
| Selling, General & Admin | 88.51M | 88.51M | 89.48M | 85.04M | 69.84M | 57.66M |
| Research & Development | 28.40M | 28.40M | 35.77M | 36.43M | 24.91M | 22.60M |
| Operating Expenses | 116.91M | 116.91M | 125.25M | 121.46M | 94.75M | 80.25M |
| Operating Income | 21.38M | 21.38M | 14.19M | 23.27M | 27.63M | 28.98M |
| Interest Expense | -7.68M | -7.68M | -6.06M | -2.34M | -532.00K | |
| Interest & Investment Income | 157.00K | |||||
| Currency Exchange Gain (Loss) | -900.00K | -900.00K | 800.00K | 300.00K | -1.00M | |
| Other Non Operating Income (Expenses) | 2.56M | 2.56M | -1.74M | -458.00K | -1.77M | 1.53M |
| EBT Excluding Unusual Items | 15.36M | 15.36M | 7.19M | 20.77M | 24.33M | 30.67M |
| Merger & Restructuring Charges | -2.14M | -2.14M | -3.61M | -3.87M | -3.01M | -238.00K |
| Pretax Income | 13.22M | 13.22M | 3.58M | 16.91M | 21.31M | 30.43M |
| Income Tax Expense | 10.68M | 10.68M | 2.23M | 6.15M | 11.14M | 9.28M |
| Earnings From Continuing Operations | 2.54M | 2.54M | 1.34M | 10.76M | 10.17M | 21.16M |
| Net Income to Company | 2.54M | 2.54M | 1.34M | 10.76M | 10.17M | 21.16M |
| Net Income | 2.54M | 2.54M | 1.34M | 10.76M | 10.17M | 21.16M |
| Net Income to Common | 2.54M | 2.54M | 1.34M | 10.76M | 10.17M | 21.16M |
| Shares Outstanding (Basic) | 12.85M | 12.85M | 12.68M | 12.18M | 11.36M | 11.17M |
| Shares Outstanding (Diluted) | 13.03M | 13.03M | 12.83M | 12.46M | 11.86M | 11.82M |
| EPS (Basic) | 0.20 | 0.20 | 0.11 | 0.88 | 0.90 | 1.89 |
| EPS (Diluted) | 0.19 | 0.19 | 0.10 | 0.86 | 0.86 | 1.79 |
| Free Cash Flow | 6.09M | 6.09M | -7.25M | 27.86M | -6.98M | 997.00K |
| Free Cash Flow Per Share | 0.47 | 0.47 | -0.56 | 2.24 | -0.59 | 0.08 |
| Gross Margin | 31.45% | 31.45% | 32.08% | 35.47% | 35.53% | 36.06% |
| Operating Margin | 4.86% | 4.86% | 3.26% | 5.70% | 8.02% | 9.57% |
| Profit Margin | 0.58% | 0.58% | 0.31% | 2.64% | 2.95% | 6.98% |
| Free Cash Flow Margin | 1.39% | 1.39% | -1.67% | 6.83% | -2.03% | 0.33% |
| EBITDA | 27.50M | 27.50M | 22.23M | 28.26M | 33.81M | 33.45M |
| EBITDA Margin | 6.25% | 6.25% | 5.12% | 6.93% | 9.82% | 11.04% |
| D&A For EBITDA | 6.12M | 6.12M | 8.04M | 4.99M | 6.18M | 4.46M |
| EBIT | 21.38M | 21.38M | 14.19M | 23.27M | 27.63M | 28.98M |
| EBIT Margin | 4.86% | 4.86% | 3.26% | 5.70% | 8.02% | 9.57% |
| Effective Tax Rate | 80.79% | 80.79% | 62.50% | 36.35% | 52.29% | 30.48% |
| Revenue as Reported | 439.68M | 439.68M | 434.61M | 408.08M | 344.43M | 302.96M |
Balance sheet
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 72.84M | 72.84M | 59.69M | 64.62M | 22.24M | 36.88M |
| Short-Term Investments | 10.89M | |||||
| Cash & Short-Term Investments | 72.84M | 72.84M | 59.69M | 64.62M | 22.24M | 47.77M |
| Accounts Receivable | 274.37M | 274.37M | 286.19M | 248.54M | 158.08M | 119.03M |
| Other Receivables | 8.62M | 2.42M | ||||
| Receivables | 274.37M | 274.37M | 286.19M | 257.16M | 160.50M | 119.03M |
| Inventory | 69.00M | 69.00M | 83.98M | 62.27M | 33.43M | 27.17M |
| Prepaid Expenses | 13.56M | 13.26M | 10.82M | |||
| Other Current Assets | 23.03M | 23.03M | 33.72M | 7.61M | 6.49M | 1.62M |
| Total Current Assets | 439.25M | 439.25M | 463.57M | 405.22M | 235.91M | 206.40M |
| Property, Plant & Equipment | 20.78M | 20.78M | 20.57M | 13.19M | 12.01M | 11.65M |
| Goodwill | 19.41M | 19.41M | 19.66M | 8.22M | 5.11M | |
| Other Intangible Assets | 23.57M | 23.57M | 26.90M | 13.64M | 9.05M | |
| Long-Term Deferred Tax Assets | 82.06M | 82.06M | 88.15M | 83.11M | 87.08M | 95.41M |
| Other Long-Term Assets | 13.89M | 13.89M | 14.45M | 11.84M | 13.98M | 10.45M |
| Total Assets | 598.96M | 598.96M | 633.30M | 535.22M | 363.14M | 323.90M |
| Accounts Payable | 119.50M | 119.50M | 148.09M | 92.85M | 60.14M | 42.39M |
| Accrued Expenses | 18.11M | 18.11M | 23.08M | 30.32M | 17.79M | 18.25M |
| Current Portion of Long-Term Debt | 7.90M | 7.90M | 18.62M | 2.40M | ||
| Current Portion of Leases | 442.00K | 442.00K | 1.09M | 1.01M | 610.00K | 513.00K |
| Current Income Taxes Payable | 12.73M | 12.73M | 12.47M | 8.83M | 4.55M | 5.29M |
| Current Unearned Revenue | 59.94M | 59.94M | 73.73M | 58.84M | 44.27M | 33.74M |
| Other Current Liabilities | 4.53M | 4.53M | 5.11M | 24.61M | 2.70M | 4.29M |
| Total Current Liabilities | 223.15M | 223.15M | 282.20M | 218.86M | 130.06M | 104.48M |
| Long-Term Debt | 89.10M | 89.10M | 68.97M | 45.95M | ||
| Long-Term Leases | 1.74M | 1.74M | 2.24M | 2.82M | 2.14M | 2.41M |
| Long-Term Unearned Revenue | 9.02M | 9.02M | 8.06M | 7.41M | 7.42M | 8.92M |
| Long-Term Deferred Tax Liabilities | 3.31M | 3.31M | 4.97M | 412.00K | 492.00K | 563.00K |
| Other Long-Term Liabilities | 5.26M | 5.26M | 3.67M | 3.88M | 4.29M | 5.78M |
| Total Liabilities | 331.57M | 331.57M | 370.11M | 279.34M | 144.40M | 122.15M |
| Common Stock | 129.00K | 129.00K | 127.00K | 126.00K | 115.00K | 112.00K |
| Additional Paid-In Capital | 872.08M | 872.08M | 866.12M | 860.07M | 830.05M | 823.26M |
| Retained Earnings | -574.63M | -574.63M | -577.17M | -578.51M | -589.27M | -599.44M |
| Treasury Stock | -9.74M | -9.74M | -7.08M | -6.48M | -6.15M | -6.15M |
| Comprehensive Income & Other | -20.45M | -20.45M | -18.82M | -19.32M | -16.00M | -16.03M |
| Total Common Equity | 267.39M | 267.39M | 263.18M | 255.88M | 218.74M | 201.75M |
| Shareholders' Equity | 267.39M | 267.39M | 263.18M | 255.88M | 218.74M | 201.75M |
| Total Liabilities & Equity | 598.96M | 598.96M | 633.30M | 535.22M | 363.14M | 323.90M |
| Total Debt | 99.18M | 99.18M | 90.92M | 52.18M | 2.75M | 2.92M |
| Net Cash (Debt) | -26.34M | -26.34M | -31.23M | 12.44M | 19.49M | 44.84M |
| Net Cash Per Share | -2.02 | -2.02 | -2.43 | 1.00 | 1.64 | 3.79 |
| Filing Date Shares Outstanding | 12.80M | 12.80M | 12.80M | 12.68M | 11.53M | 11.19M |
| Total Common Shares Outstanding | 12.80M | 12.80M | 12.74M | 12.62M | 11.52M | 11.16M |
| Working Capital | 216.09M | 216.09M | 181.38M | 186.37M | 105.85M | 101.92M |
| Book Value Per Share | 20.89 | 20.89 | 20.66 | 20.27 | 18.99 | 18.08 |
| Tangible Book Value | 224.40M | 224.40M | 216.63M | 234.02M | 204.58M | 201.75M |
| Tangible Book Value Per Share | 17.54 | 17.54 | 17.00 | 18.54 | 17.76 | 18.08 |
| Land | 210.00K | 210.00K | ||||
| Buildings | 2.09M | 2.09M | 2.09M | 1.30M | 5.89M | 5.80M |
| Machinery | 49.58M | |||||
| Order Backlog | 367.00M | 367.00M | 323.00M |
Cash flow statement
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 2.54M | 2.54M | 1.34M | 10.76M | 10.17M | 21.16M |
| Depreciation & Amortization | 6.12M | 6.12M | 8.04M | 4.99M | 6.18M | 4.46M |
| Loss (Gain) From Sale of Investments | 1.73M | -2.61M | ||||
| Stock-Based Compensation | 6.20M | 6.20M | 7.07M | 7.34M | 6.72M | 3.83M |
| Provision & Write-off of Bad Debts | 2.36M | 2.36M | 1.73M | 1.30M | 467.00K | -23.00K |
| Other Operating Activities | 8.28M | 8.28M | 4.38M | 8.69M | 11.86M | 10.74M |
| Change in Accounts Receivable | 12.60M | 12.60M | -44.24M | -44.12M | -37.15M | -34.44M |
| Change in Inventory | 11.94M | 11.94M | -24.36M | 1.59M | -4.89M | -3.90M |
| Change in Accounts Payable | -26.38M | -26.38M | 49.93M | 16.55M | 16.04M | 10.50M |
| Change in Unearned Revenue | -14.16M | -14.16M | 15.65M | 11.81M | 6.25M | 1.71M |
| Change in Income Taxes | 5.14M | 5.14M | 2.16M | 1.45M | 710.00K | -1.62M |
| Change in Other Net Operating Assets | -1.08M | -1.08M | -15.98M | 10.18M | -19.73M | -7.02M |
| Operating Cash Flow | 13.56M | 13.56M | 5.72M | 30.54M | -1.64M | 2.79M |
| Capital Expenditures | -7.47M | -7.47M | -12.97M | -2.67M | -5.33M | -1.79M |
| Sale of Property, Plant & Equipment | 2.59M | 2.28M | ||||
| Cash Acquisitions | -18.15M | -32.16M | -15.77M | |||
| Investment in Securities | 138.00K | 138.00K | -387.00K | 9.16M | -8.28M | |
| Investing Cash Flow | -7.33M | -7.33M | -28.53M | -35.22M | -11.95M | -7.79M |
| Long-Term Debt Issued | 120.00M | 120.00M | 170.00M | 83.20M | 102.20M | |
| Total Debt Issued | 120.00M | 120.00M | 170.00M | 83.20M | 102.20M | |
| Long-Term Debt Repaid | -110.55M | -110.55M | -130.62M | -34.45M | -102.20M | |
| Total Debt Repaid | -110.55M | -110.55M | -130.62M | -34.45M | -102.20M | |
| Net Debt Issued (Repaid) | 9.45M | 9.45M | 39.38M | 48.75M | ||
| Issuance of Common Stock | 584.00K | 584.00K | 228.00K | 1.06M | 1.27M | 1.03M |
| Repurchase of Common Stock | -3.49M | -3.49M | -1.84M | -1.03M | -1.20M | -5.90M |
| Other Financing Activities | -204.00K | -204.00K | -19.08M | -79.00K | -753.00K | |
| Financing Cash Flow | 6.34M | 6.34M | 18.68M | 48.70M | -681.00K | -4.87M |
| Foreign Exchange Rate Adjustments | 125.00K | 125.00K | 1.21M | -1.60M | -311.00K | -1.22M |
| Net Cash Flow | 12.70M | 12.70M | -2.92M | 42.41M | -14.58M | -11.09M |
| Free Cash Flow | 6.09M | 6.09M | -7.25M | 27.86M | -6.98M | 997.00K |
| Free Cash Flow Margin | 1.39% | 1.39% | -1.67% | 6.83% | -2.03% | 0.33% |
| Free Cash Flow Per Share | 0.47 | 0.47 | -0.56 | 2.24 | -0.59 | 0.08 |
| Levered Free Cash Flow | 3.23M | 3.23M | -9.04M | -18.18M | -5.06M | -3.35M |
| Unlevered Free Cash Flow | 8.03M | 8.03M | -5.25M | -16.72M | -4.72M | -3.35M |
| Cash Interest Paid | 8.44M | 8.44M | 6.68M | 2.52M | 880.00K | |
| Cash Income Tax Paid | 4.34M | 4.34M | 1.72M | 808.00K | 1.61M | 1.24M |
| Change in Working Capital | -11.94M | -11.94M | -16.84M | -2.55M | -38.77M | -34.77M |
Ratios
Fiscal year August - July; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 258.21M | 273.93M | 303.86M | 360.50M | 381.78M | 280.18M |
| Enterprise Value | 284.54M | 302.47M | 331.92M | 353.41M | 368.50M | 249.72M |
| Last Close Price | 20.17 | 21.17 | 23.94 | 28.69 | 33.37 | 25.09 |
| PE Ratio | 106.16 | 107.89 | 226.59 | 33.50 | 37.54 | 13.24 |
| Forward PE | 7.92 | 8.36 | 10.00 | 8.34 | 9.37 | 8.84 |
| PS Ratio | 0.59 | 0.62 | 0.70 | 0.88 | 1.11 | 0.93 |
| PB Ratio | 0.97 | 1.02 | 1.16 | 1.41 | 1.75 | 1.39 |
| P/TBV Ratio | 1.15 | 1.22 | 1.40 | 1.54 | 1.87 | 1.39 |
| P/FCF Ratio | 42.40 | 44.98 | 12.94 | 281.02 | ||
| P/OCF Ratio | 19.04 | 20.20 | 53.11 | 11.80 | 100.46 | |
| PEG Ratio | 0.06 | 0.05 | 1.28 | 1.28 | 1.28 | 1.28 |
| EV/Sales Ratio | 0.65 | 0.69 | 0.76 | 0.87 | 1.07 | 0.82 |
| EV/EBITDA Ratio | 10.35 | 11.00 | 14.93 | 12.51 | 10.90 | 7.47 |
| EV/EBIT Ratio | 13.31 | 14.15 | 23.40 | 15.19 | 13.34 | 8.62 |
| EV/FCF Ratio | 46.72 | 49.67 | 12.68 | 250.47 | ||
| Debt / Equity Ratio | 0.37 | 0.37 | 0.34 | 0.20 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 2.80 | 2.80 | 3.04 | 1.60 | 0.07 | 0.08 |
| Debt / FCF Ratio | 16.29 | 16.29 | 1.87 | 2.93 | ||
| Net Debt / Equity Ratio | 0.10 | 0.10 | 0.12 | -0.05 | -0.09 | -0.22 |
| Net Debt / EBITDA Ratio | 0.96 | 0.96 | 1.41 | -0.44 | -0.58 | -1.34 |
| Net Debt / FCF Ratio | 4.33 | 4.33 | -4.31 | -0.45 | 2.79 | -44.98 |
| Asset Turnover | 0.71 | 0.71 | 0.74 | 0.91 | 1.00 | 0.97 |
| Inventory Turnover | 3.94 | 3.94 | 4.04 | 5.50 | 7.33 | 7.45 |
| Quick Ratio | 1.56 | 1.56 | 1.23 | 1.47 | 1.41 | 1.60 |
| Current Ratio | 1.97 | 1.97 | 1.64 | 1.85 | 1.81 | 1.98 |
| Return on Equity (ROE) | 0.96% | 0.96% | 0.52% | 4.53% | 4.84% | 10.99% |
| Return on Assets (ROA) | 2.17% | 2.17% | 1.52% | 3.24% | 5.03% | 5.83% |
| Return on Invested Capital (ROIC) | 1.38% | 1.40% | 1.98% | 6.69% | 7.40% | 13.60% |
| Return on Capital Employed (ROCE) | 5.70% | 5.70% | 4.00% | 7.40% | 11.90% | 13.20% |
| Earnings Yield | 0.94% | 0.93% | 0.44% | 2.99% | 2.66% | 7.55% |
| FCF Yield | 2.36% | 2.22% | -2.39% | 7.73% | -1.83% | 0.36% |
| Buyback Yield / Dilution | -1.57% | -1.57% | -2.97% | -5.07% | -0.30% | -1.13% |