Aviat Networks, Inc. (AVNW) vs Ceragon Networks Ltd. (CRNT)

Aviat Networks, Inc. and Ceragon Networks Ltd. are both Communication Equipment companies. Aviat Networks, Inc. is the larger, with a market value of $256.5M against $193.6M — 1.3× the size. Ceragon Networks Ltd. has negative trailing earnings, so its P/E is not meaningful; Aviat Networks, Inc. trades at 106×. Aviat Networks, Inc. grew revenue faster over the last twelve months: 1.17% against −8.88%. Aviat Networks, Inc. has the higher net margin (0.58% vs −0.95%) and the higher return on invested capital (4.12% vs 3.53%). Across the 21 metrics below, Aviat Networks, Inc. leads on 11 and Ceragon Networks Ltd. on 10.

Valuation

Metric AVNW CRNT Communication Equipment median
P/E 105.74 n/m 33.61
P/S 0.59 0.55 2.16
P/B 0.97 1.12 2.40
Price to free cash flow 42.38 16.10 25.02
EV/EBITDA 11.13 7.55 13.78
EV/Sales 0.64 0.49 2.27
Earnings yield 0.95% (1.56%) (0.65%)
Free cash flow yield 2.36% 6.21% 1.61%

Profitability

Metric AVNW CRNT Communication Equipment median
Gross margin 31.45% 33.69% 39.47%
Operating margin 4.38% 2.43% 2.39%
Net margin 0.58% (0.95%) (0.74%)
Free cash flow margin 1.39% 5.19% 1.39%
Return on equity 0.96% (1.91%) (1.91%)
Return on assets 0.41% (1.02%) (0.20%)
Return on invested capital 4.12% 3.53% 0.72%

Growth

Metric AVNW CRNT Communication Equipment median
Revenue growth (TTM) 1.17% (8.88%) 11.48%
EPS growth (last fiscal year) 90.00% (107.41%) —
Revenue growth, 5-year CAGR 9.85% 5.20% 4.92%
Net income growth, 5-year CAGR (52.95%) 0.00% 0.00%

Health

Metric AVNW CRNT Communication Equipment median
Debt to equity 0.36 0.07 0.06
Current ratio 1.97 1.85 2.01
Net debt to EBITDA 0.95 (0.90) 0.67

Dividend

Metric AVNW CRNT Communication Equipment median
Dividend yield — — 2.63%
Payout ratio 0.00 0.00 0.00

Size

Metric AVNW CRNT Communication Equipment median
Market cap 256.53m 193.60m 563.45m

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