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AVNWAviat Networks, Inc.
$20.54$266M
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AVNW logoAviat Networks, Inc.(AVNW)Earnings, Financials & Key Ratios

AVNW•NASDAQ
$20.54
205.4× P/E·Price updated Jul 7, 2026
SectorTechnologyIndustryCommunication EquipmentSub-IndustryWireless Access and Backhaul Equipment
AboutAviat Networks, Inc. provides wireless transport solutions worldwide. It offers a comprehensive suite of products and localized professional and support services enabling customers to simplify their networks and lives. The company's products and solutions include wireless transmission systems for microwave and millimeter wave networking applications. It serves communications service providers and private network operators, including state/local government, utility, federal government, and defense organizations. The company markets its products through a direct sales, service, and support organization; indirect sales channels comprising dealers, resellers, and sales representatives; and through online. Aviat Networks, Inc. was incorporated in 2006 and is headquartered in Austin, Texas.Show more
  • Revenue$435M+6.5%
  • EBITDA-$3M+82.4%
  • Net Income$1M-87.5%
  • EPS (Diluted)0.10-88.4%
  • Gross Margin32.08%-9.5%
  • EBITDA Margin-0.58%+83.5%
  • Operating Margin-2.43%+48.8%
  • Net Margin0.31%-88.3%
  • ROE0.52%-88.6%

AVNW Price & Volume

Aviat Networks, Inc. (AVNW) stock price & volume — 10-year historical chart

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Project Lumpy Revenue Strains Operating Margin Stability

Investment Thesis • Updated 2026Q3

VerdictNeutral
Growth:Decelerating
Profitability:Strained
Financial:Healthy
Cash Flow:Deteriorating
Primary Risk:Integration and margin volatility

Key Thesis Takeaways

  • Aviat Networks faces a challenging transition as it attempts to integrate recent acquisitions while navigating the inherent volatility of its project-based microwave transport business.
  • While the company maintains a conservative capital structure with a 0.39 debt-to-equity ratio, the lack of consistent operating leverage and persistent margin compression suggest significant execution risk.
  • Investors should monitor whether the $67.8M in deferred revenue can stabilize future earnings against the backdrop of recent 11.2% revenue contraction.

Verdict Logic

while the forward P/E of 13.04 appears attractive, the extreme volatility in cash conversion and the recent 11.2% revenue contraction warrant a cautious wait-and-see approach regarding integration success.

AVNW Growth Metrics

Aviat Networks, Inc. (AVNW) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years2.61%
5 Years12.74%
3 Years12.78%
TTM0.23%

Profit CAGR

10 Years-
5 Years39.16%
3 Years-60.13%
TTM364.36%

EPS CAGR

10 Years-
5 Years33.59%
3 Years-61.77%
TTM297.23%

Return on Capital

10 Years-1.57%
5 Years2.16%
3 Years-7.04%
Last Year-3.17%

AVNW Recent Earnings

Aviat Networks, Inc. (AVNW) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 4, 2026
Metric
Actual
Est
EPS
$0.06-85.7%
$0.42
Rev
$100M-6.0%
$106M
Q1 2026
Feb 3, 2026
Metric
Actual
Est
EPS
$0.54+12.5%
$0.48
Rev
$111M+1.6%
$110M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$0.43+34.4%
$0.32
Rev
$107M-4.9%
$113M
Q4 2025
Sep 10, 2025
Metric
Actual
Est
EPS
$0.83+93.0%
$0.43
Rev
$113M+3.1%
$109M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 4, 2026
$0.06vs $0.42-85.7%
$100Mvs $106M-6.0%
Q1 2026Feb 3, 2026
$0.54vs $0.48+12.5%
$111Mvs $110M+1.6%
Q4 2025Nov 4, 2025
$0.43vs $0.32+34.4%
$107Mvs $113M-4.9%
Q4 2025Sep 10, 2025
$0.83vs $0.43+93.0%
$113Mvs $109M+3.1%
Based on last 12 quarters of dataView full earnings history →

Latest AVNW News

Recent stock market news and headlines for Aviat Networks, Inc. (AVNW)

PRNewsWire·Jun 22, 2026
Nextlink Internet expands Agreement with Aviat Networks to Power BEAD-Funded Rural Broadband Buildout

Nextlink will deploy Aviat's BABA-Compliant Microwave, E-Band and Multi-Band Solutions to Connect Thousands of Unserved Locations across the Central United States AUSTIN, Texas, June 22, 2026 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW), the leading expert in wireless transport solutions, today announced that Nextlink Internet ("Nextlink"), a rural-focused internet service provider serving commercial and residential subscribers across 12 states, has expanded its existing agreement with Aviat Networks for its Broadband Equity, Access, and Deployment (BEAD) program-funded buildout. Nextlink will deploy Aviat's high-performance microwave, E-Band and multi-band systems to extend connectivity to thousands of unserved and underserved locations across its 12-state footprint.

Peers Comparison

Key metrics vs top competitors for Aviat Networks, Inc. (AVNW)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
AVNW logoAVNWAviat Networks, Inc.Current
$20.54$265.78M205.406.5%0.31%0.52%—
CIEN logoCIENCiena Corporation
$418.91$59.3B492.8418.79%7.87%15.65%—
ADTN logoADTNADTRAN Holdings, Inc.
$12.54$1.01B-22.0017.46%-2.64%-5.53%—
CALX logoCALXCalix, Inc.
$38.41$2.45B147.7320.26%3.2%4.25%—
DCOM logoDCOMDime Community Bancshares, Inc.
$39.64$1.75B16.7313.03%16.65%8.46%—
CSCO logoCSCOCisco Systems, Inc.
$111.79$440.61B43.845.3%19.69%25.14%—

Compare AVNW vs Peers

Aviat Networks, Inc. (AVNW) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CIEN

Most directly comparable listed peer for AVNW.

Scale Benchmark

vs CSCO

Larger-name benchmark to compare AVNW against a more recognizable public peer.

Peer Set

Compare Top 5

vs CIEN, ADTN, CALX, DCOM

AVNW SEC Filings & Documents

Aviat Networks, Inc. (AVNW) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 4, 2026·SEC

Material company update

Mar 10, 2026·SEC

Material company update

Feb 27, 2026·SEC

10-K Annual Reports

2
FY 2025

Sep 10, 2025·SEC

FY 2024

Oct 4, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 4, 2026·SEC

FY 2026

Feb 3, 2026·SEC

FY 2025

Nov 4, 2025·SEC

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AVNW Frequently Asked Questions

Aviat Networks, Inc. (AVNW) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Aviat Networks, Inc.'s revenue?

Aviat Networks, Inc. (AVNW) reported $434.1M in revenue for fiscal year 2025. This represents a 189% increase from $150.4M in 1996.

How fast is Aviat Networks, Inc. growing?

Aviat Networks, Inc. (AVNW) grew revenue by 6.5% over the past year. This is steady growth.

Is AVNW profitable?

Yes, Aviat Networks, Inc. (AVNW) is profitable, generating $9.0M in net income for fiscal year 2025 (0.3% net margin).

Dividend & Returns
What is AVNW's return on equity?

Aviat Networks, Inc. (AVNW) has a return on equity (ROE) of 0.5%. This is below average, suggesting room for improvement.

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

Aviat Networks, Inc. (AVNW) generated $11.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in AVNW back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →