AVNWNasdaqRadio & Tv Broadcasting & Communications EquipmentFiscal year ends June 30
AVIAT NETWORKS, INC.
Financials through Q4 FY2026, quarter ended Jul 3, 2026Last filing: 10-K on Aug 27, 2026
$19.74+0.80 (+4.22%)
Close on Oct 19, 2026
- Market cap
- $256.98M
- P/E (TTM)
- 103.9
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
31.5%−5.9 pts over 5 years
Operating margin
4.4%−3.7 pts over 5 years
Net margin
0.6%−39.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.2% | +8.5% | +9.8% | +5.0% | |
| Gross profit | -0.8% | +4.2% | +6.1% | +8.4% | |
| Operating income | +81.9% | -7.9% | -2.8% | – | |
| Net income | +89.3% | -37.0% | -53.0% | – | |
| EPS, diluted | +90.0% | -39.5% | -54.2% | – | |
| Free cash flow | – | – | -15.9% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | -1.5% | 87.4% | 1.0% | |
| Return on assets | -0.5% | 46.1% | 0.4% | |
| Current ratio | 1.45 | 1.77 | 1.97 | |
| Debt to equity | – | – | 0.36 | |
| Net debt to EBITDA | – | – | 1.07× | |
| Interest coverage | -19.7× | – | – | |
| Inventory turnover | 6.8× | – | – | |
| Capex to revenue | 1.7% | 1.0% | 1.7% | |
| Diluted shares | 11M | 12M | 13M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Aviat Networks generated $54.25M from operations and spent $30.24M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$54.25M
Used
$30.24M
Capital expenditure$30.24M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.6%
×Asset turnover0.71×
×Equity multiplier2.32×
=Return on equity, FY20261.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 0.6% | 0.71× | 2.32× | 1.0% |
| FY2025 | 0.3% | 0.74× | 2.25× | 0.5% |
| FY2024 | 2.6% | 0.91× | 1.89× | 4.5% |
| FY2023 | 3.0% | 1.00× | 1.63× | 4.8% |
| FY2022 | 7.0% | 0.97× | 1.61× | 11.0% |
| FY2021 | 40.1% | 1.15× | 1.89× | 87.4% |
| FY2020 | 0.1% | 1.37× | 2.49× | 0.4% |
| FY2019 | 4.0% | 1.50× | 2.52× | 15.1% |
| FY2018 | 0.8% | 1.57× | 2.77× | 3.3% |
| FY2017 | -0.3% | 1.52× | 2.98× | -1.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.54M
- Cash generatingOperating cash flow above zero$13.56M
- Return on assets improvedROA up on the prior year0.3% → 0.4%
- Earnings backed by cashOperating cash flow above net income$13.56M vs $2.54M
- Less leverageLong-term debt to assets fell10.9% → 14.9%
- Better liquidityCurrent ratio rose1.64 → 1.97
- No dilutionShare count did not rise13M → 13M
- Gross margin improvedGross margin up on the prior year32.08% → 31.45%
- More efficientAsset turnover rose0.81 → 0.69