Pricing Log in Create free account
Monday 2 November 2026 Export AVNW’s income statement to Excel — free account

Aviat Networks, Inc.

AVNW Technology Communication Equipment

Aviat Networks, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $439.7 million, up 1.17% from fiscal 2025.

Revenue
+4.81%
EPS
−124.4%
Free cash flow
−56.3%
Total debt
+10.7%

Quarter to June 2026, against a year earlier

19.91 0.26 −1.29%
Market cap
$259.4M
P/E
105×
Fwd P/E
12.8×
Dividend yield
—
F-score
5/9
Altman Z
0.45
Beneish M
−2.55
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.95
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 2 — — — — — 3 — — —
Insider Ownership 11.57%

Capital & Financial Ratios $m

Size
Market Cap 259.36
Revenue ttm 439.68
Net income ttm 2.54
Free cash flow ttm 6.09
Net debt Q 24.16
Valuation
P/E 104.79 (above 35: high)
Forward P/E 12.80
Price / sales 0.58
Forward P/S Powerpack
Price / FCF 42.00
Price / book 0.96
Financial health
Current ratio Q 1.97 (at or above 1.5: strong)
Debt / equity Q 0.36 (at or below 0.5: strong)
Interest coverage Q 2.63
Growth
Revenue growth Q +4.81% (above 0%: growing)
Operating income growth Q −34.43% (below 0%: shrinking)
EPS, this year +53.36% (at or above 15%: strong)
EPS, next year A +31.72% (at or above 15%: strong)
Revenue, next year A +5.51%
EPS, past 5 yrs −54.19% (below 0%: weak)
EPS, next 5 yrs A +34.68% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 0.6×; over the ten years it ranged from 0.0× in 2016 to 1.4× in 2021.
P/E against its own 10 years 86.97%
10-year low 10-year high
P/S against its own 10 years 50.51%
10-year low 10-year high
P/B against its own 10 years 14.68%
10-year low 10-year high
EV/Sales against its own 10 years 51.95%
10-year low 10-year high
EV/FCF against its own 10 years 81.70%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 22 65 60 73
Receivables 158 249 286 274
Inventory 33 62 84 69
Other 22 30 34 23
236 405 464 439
2023 2024 2025 2026
Payables 60 93 148 120
ST’ Debt 1 2 19 8
Other 45 80 75 61
130 219 282 223

Compound Annual Growth %

10y 5y 3y
Sales 5.05% 9.85% 8.48%
Cash Flow 43.90% (4.76%) 0.00%
Earnings 0.00% (52.95%) (37.03%)
Book Value 17.47% 7.84% 6.92%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 0.50 Actual 0.64

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 0.32 0.43 Beat by 0.11
Q2 FY26 0.48 0.54 Beat by 0.06
Q3 FY26 0.42 0.06 Miss by 0.36
Q4 FY26 0.50 0.64 Beat by 0.14
Q1 FY27 0.32 — Reports 10 November 2026

EPS $

Sep Dec Mar Jun Year
’26 — — — — —
’26 0.01 0.44 (0.16) (0.10) 0.19
’25 (0.94) 0.35 0.27 0.40 0.10
’24 0.34 0.15 0.27 0.12 0.86
’23 (0.25) 0.51 0.41 0.18 0.86
’22 0.39 0.49 0.51 0.39 1.79
’21 0.54 0.58 8.00 0.24 9.42
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 107 111 100 121 440
’25 88 118 113 115 435
’24 87 94 111 117 408
’23 81 91 83 89 344
’22 73 78 75 77 303
’21 66 71 66 72 275
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 (12) 24 (2) 3 14
’25 (27) 21 2 11 6
’24 14 (7) 15 8 31
’23 (6) (2) (1) 7 (2)
’22 1 (3) (9) 14 3
’21 4 6 4 3 17
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 (13) 22 (5) 2 6
’25 (33) 21 (1) 6 (7)
’24 13 (8) 15 8 28
’23 (23) 14 (5) 7 (7)
’22 0 (3) (7) 13 3
’21 3 6 3 3 14
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 242 243 244 239 275 303 344 408 435 440 +6.9% 464 494 540 +7.1%
Gross margin, % 31.20 33.20 32.51 35.49 37.33 36.06 35.53 35.47 32.08 31.45 +0.3 pt
EBT (1) 1 2 4 22 30 21 17 4 13 n/m
EBT margin, % (0.25) 0.52 0.64 1.55 8.16 10.05 6.19 4.14 0.82 3.01 +3.3 pt
Net income (1) 2 10 0 110 21 10 11 1 3 n/m
Per share, $
Per share, $ Revenue 22.85 22.72 22.68 22.13 24.91 27.13 30.33 33.50 34.27 34.22 +4.6%
Earnings (0.08) 0.18 0.91 0.03 9.98 1.89 0.90 0.88 0.11 0.20 n/m
Cash flow 0.89 0.77 0.27 1.62 1.57 0.25 (0.14) 2.51 0.45 1.06 +1.9%
Capex (0.38) (0.61) (0.49) (0.43) (0.26) 0.04 (0.47) (0.22) (1.02) (0.58) +4.8%
Free cash flow 0.51 0.15 (0.21) 1.20 1.31 0.29 (0.61) 2.29 (0.57) 0.47 (0.8%)
Book value 5.13 5.39 6.65 6.37 16.61 18.07 19.26 21.01 20.75 20.81 +16.8%
Shares, m 11 11 11 11 11 11 11 12 13 13 +2.2%
Valuation, ×
Valuation, × P/E 0.00 48.69 7.31 365.20 3.31 13.25 37.52 31.14 240.50 116.84 86.4
P/S 0.38 0.37 0.29 0.41 1.32 0.92 1.10 0.83 0.70 0.65 0.7
P/B 1.69 1.58 1.00 1.43 1.97 1.39 1.73 1.32 1.16 1.07 1.4
EV/Sales 0.27 0.26 0.20 0.29 1.16 0.77 1.04 0.79 0.77 0.70 0.6
EV/FCF 12.00 37.97 (20.96) 7.62 21.98 71.56 (51.52) 11.51 (45.92) 50.80 9.5
Cash, $m
Cash, $m Operating cash flow 9 8 3 17 17 3 (2) 31 6 14 +4.1%
Capex (4) (7) (5) (5) (3) 0 (5) (3) (13) (7) +7.1%
Free cash flow 5 2 (2) 13 14 3 (7) 28 (7) 6 +1.4%
Balance, $m
Balance, $m Working capital 39 37 44 46 74 102 106 186 181 216 +21.1%
Net debt (27) (28) (23) (30) (44) (45) (19) (16) 28 24 n/m
Shareholders’ equity 54 58 72 69 183 202 219 256 263 267 +19.4%
Returns, %
Returns, % ROA (0.52) 1.20 5.99 0.15 46.14 6.81 2.96 2.40 0.23 0.41 +0.9 pt
ROIC (2.29) 2.83 1.76 5.50 9.96 11.45 7.72 5.06 2.27 4.12 +6.4 pt
ROE (1.53) 3.30 15.09 0.37 87.41 10.99 4.84 4.53 0.52 0.96 +2.5 pt
People
People Employees 710 704 708 674 687 712 704 913 923 900 +2.7%
Revenue/emp, $m 0.34 0.34 0.34 0.35 0.40 0.43 0.49 0.45 0.47 0.49 +4.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Aviat Networks, Inc. vs peers in Communication Equipment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GILT Gilat Satellite Networks Ltd. $599.3M 16.9× 21.6× +16.86% (above 0%: growing) −35.29% (below 0%: shrinking) −250.32% (below 0%: shrinking) 30.37% 3.83% Compare
ADTN ADTRAN Holdings, Inc. $532.1M — (loss-making) — (loss-making) +6.07% (above 0%: growing) n/m −52.65% (below 0%: shrinking) 36.97% (3.58%) Compare
CLFD Clearfield, Inc. $435.1M — (loss-making) 153× +13.18% (above 0%: growing) +100.00% (above 0%: growing) −6.00% (below 0%: shrinking) 31.79% 5.86% Compare
LTRX Lantronix, Inc. $281.8M — (loss-making) 68.7× +8.03% (above 0%: growing) n/m +89.00% (above 0%: growing) 43.67% (1.26%) Compare
AUDC AudioCodes Ltd. $266.9M 42.8× 39.8× +3.08% (above 0%: growing) +100.00% (above 0%: growing) −15.07% (below 0%: shrinking) 65.70% 5.08% Compare
AVNW Aviat Networks, Inc. $259.4M 106× 12.8× +4.81% (above 0%: growing) n/m −56.30% (below 0%: shrinking) 30.81% 4.82%
BKTI BK TECHNOLOGIES, INC. $257.2M 18.8× 22.7× +10.63% (above 0%: growing) −18.45% (below 0%: shrinking) −85.95% (below 0%: shrinking) 51.86% 16.35% Compare
SILC Silicom Ltd $192.8M — (loss-making) — (loss-making) +58.51% (above 0%: growing) n/m −29.51% (below 0%: shrinking) 30.11% (8.37%) Compare
CRNT Ceragon Networks Ltd. $187.2M — (loss-making) 68.7× +14.16% (above 0%: growing) n/m −65.76% (below 0%: shrinking) 31.65% 0.25% Compare
Median of peers $274.3M 18.8× 54.3× +11.91% +40.78% −41.08% 34.38% 2.04%

All 46 Communication Equipment stocks →

Pay and ownership Proxy statement filed 2 October 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 4.42m 3.08m 66.41
2025 3.77m 2.51m 75.09
2024 4.25m 2.17m 89.99
2023 4.15m 5.90m 104.67
2022 4.19m 3.14m 78.70

Ownership

Directors and executive officers, together 5.70%
BlackRock, Inc.50 Hudson Yards, New York, NY 6.60% of the votes
NEC Corporation7-1, Shiba 5.70% of the votes
Tieton Capital Management, LLC4700 Tieton Drive, Suite C, Yakima, WA 5.30% of the votes
Royce & Associates LPOne Madison Avenue, New York NY 5.10% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Aviat Networks, Inc. (AVNW) Latest News

20 Oct

Impact 4 · · PR Newswire

13 Oct

Impact 4 · · PR Newswire

5 Oct

Impact 4 · · PR Newswire

1 Sep

Impact 3 ·

31 Aug

Impact 3 · · The Motley Fool transcript

27 Aug

Impact 4 ·
Impact 4 ·
Impact 3 · · Moby transcript
Impact 3 · · MarketBeat transcript

22 Jun

Impact 4 · · PR Newswire

19 Jun

Impact 3 ·

14 Jun

Impact 4 ·

6 Jun

Impact 4 · · Simply Wall St.

26 May

Impact 3 · · PR Newswire

5 May

Impact 4 · · Moby

4 May

Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · PR Newswire
Impact 3 · · Zacks

27 Apr

Impact 3 · · Zacks

4 Apr

Impact 4 · · Benzinga

11 Feb

Impact 3 ·

4 Feb

Impact 4 · · GuruFocus.com transcript

3 Feb

Impact 4 · · MarketBeat transcript
Impact 4 · · Zacks
Impact 4 · · PR Newswire
Impact 3 · · Bloomberg

2 Feb

Impact 3 · · Simply Wall St.

13 Jan

Impact 3 · · Simply Wall St.

6 Jan

Impact 3 · · PR Newswire
stockrow.com/AVNW · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com