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AVIAT NETWORKS, INC.

AVNW Clue Score39
United States Fiscal year ends June CIK 0001377789
$20.77 +1.71% Close, 9 Oct 2026
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Price $20.77 −38.13% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue241.9Operating income−1.0Net income−0.8EPS, diluted−0.16Fiscal year 2018Revenue242.5 +0.3%Operating income1.3Net income1.8EPS, diluted0.33Fiscal year 2019Revenue243.9 +0.6%Operating income1.4Net income9.7 +427.8%EPS, diluted0.87Fiscal year 2020Revenue238.6 −2.1%Operating income3.4Net income0.3 −97.4%EPS, diluted0.02Fiscal year 2021Revenue274.9 +15.2%Operating income22.2Net income110.1 +42,755.6%EPS, diluted9.42Fiscal year 2022Revenue303.0 +10.2%Operating income28.7Net income21.2 −80.8%EPS, diluted1.79Fiscal year 2023Revenue344.4 +13.7%Operating income24.6Net income10.2 −51.9%EPS, diluted0.86Fiscal year 2024Revenue408.1 +18.5%Operating income19.4Net income10.8 +5.8%EPS, diluted0.86Fiscal year 2025Revenue434.6 +6.5%Operating income10.6Net income1.3 −87.5%EPS, diluted0.10Fiscal year 2026Revenue439.7 +1.2%Operating income19.2Net income2.5 +89.3%EPS, diluted0.19
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 241.9 242.5 243.9 238.6 274.9 303.0 344.4 408.1 434.6 439.7
Growth +0.3% +0.6% −2.1% +15.2% +10.2% +13.7% +18.5% +6.5% +1.2%
Operating income −1.0 1.3 1.4 3.4 22.2 28.7 24.6 19.4 10.6 19.2
Net income −0.8 1.8 9.7 0.3 110.1 21.2 10.2 10.8 1.3 2.5
Growth +427.8% −97.4% +42,755.6% −80.8% −51.9% +5.8% −87.5% +89.3%
EPS, diluted −0.16 0.33 0.87 0.02 9.42 1.79 0.86 0.86 0.10 0.19

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin31.2%Operating margin−0.4%Net margin−0.3%Free cash flow margin2.2%Fiscal year 2018Gross margin33.2%Operating margin0.5%Net margin0.8%Free cash flow margin0.7%Fiscal year 2019Gross margin32.5%Operating margin0.6%Net margin4.0%Free cash flow margin−0.9%Fiscal year 2020Gross margin35.5%Operating margin1.4%Net margin0.1%Free cash flow margin5.4%Fiscal year 2021Gross margin37.3%Operating margin8.1%Net margin40.1%Free cash flow margin5.3%Fiscal year 2022Gross margin36.1%Operating margin9.5%Net margin7.0%Free cash flow margin0.3%Fiscal year 2023Gross margin35.5%Operating margin7.1%Net margin3.0%Free cash flow margin−2.0%Fiscal year 2024Gross margin35.5%Operating margin4.8%Net margin2.6%Free cash flow margin6.8%Fiscal year 2025Gross margin32.1%Operating margin2.4%Net margin0.3%Free cash flow margin−1.7%Fiscal year 2026Gross margin31.5%Operating margin4.4%Net margin0.6%Free cash flow margin1.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 31.2% 33.2% 32.5% 35.5% 37.3% 36.1% 35.5% 35.5% 32.1% 31.5%
Operating margin −0.4% 0.5% 0.6% 1.4% 8.1% 9.5% 7.1% 4.8% 2.4% 4.4%
Net margin −0.3% 0.8% 4.0% 0.1% 40.1% 7.0% 3.0% 2.6% 0.3% 0.6%
Free cash flow margin 2.2% 0.7% −0.9% 5.4% 5.3% 0.3% −2.0% 6.8% −1.7% 1.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow9.4Capital expenditure−4.0Free cash flow5.4Buybacks0.0Fiscal year 2018Operating cash flow8.2Capital expenditure−6.6Free cash flow1.6 −69.4%Buybacks−0.0Fiscal year 2019Operating cash flow2.9Capital expenditure−5.2Free cash flow−2.3 −239.9%Buybacks−2.3Fiscal year 2020Operating cash flow17.5Capital expenditure−4.6Free cash flow12.9Buybacks−1.8Fiscal year 2021Operating cash flow17.3Capital expenditure−2.8Free cash flow14.5 +12.2%Buybacks0.0Fiscal year 2022Operating cash flow2.8Capital expenditure−1.8Free cash flow1.0 −93.1%Buybacks0.0Fiscal year 2023Operating cash flow−1.6Capital expenditure−5.3Free cash flow−7.0 −800.0%Fiscal year 2024Operating cash flow30.5Capital expenditure−2.7Free cash flow27.9Fiscal year 2025Operating cash flow5.7Capital expenditure−13.0Free cash flow−7.2 −126.0%Fiscal year 2026Operating cash flow13.6Capital expenditure−7.5Free cash flow6.1
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 9.4 8.2 2.9 17.5 17.3 2.8 −1.6 30.5 5.7 13.6
Capital expenditure −4.0 −6.6 −5.2 −4.6 −2.8 −1.8 −5.3 −2.7 −13.0 −7.5
Free cash flow 5.4 1.6 −2.3 12.9 14.5 1.0 −7.0 27.9 −7.2 6.1
Growth −69.4% −239.9% +12.2% −93.1% −800.0% −126.0%
Buybacks 0.0 −0.0 −2.3 −1.8 0.0 0.0 n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash35.7Shareholders’ equity53.8Fiscal year 2018Cash37.4Shareholders’ equity57.5Fiscal year 2019Cash31.9Shareholders’ equity71.5Fiscal year 2020Cash41.6Shareholders’ equity68.7Fiscal year 2021Cash47.9Shareholders’ equity183.3Fiscal year 2022Cash36.9Shareholders’ equity201.8Fiscal year 2023Cash22.2Total debt0.0Net cash (debt)22.2Shareholders’ equity218.7Debt to equity0.00Fiscal year 2024Cash64.6Total debt48.4Net cash (debt)16.3Shareholders’ equity255.9Debt to equity0.19Fiscal year 2025Cash59.7Total debt87.6Net cash (debt)−27.9Shareholders’ equity263.2Debt to equity0.33Fiscal year 2026Cash72.8Total debt97.0Net cash (debt)−24.2Shareholders’ equity267.4Debt to equity0.36
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 35.7 37.4 31.9 41.6 47.9 36.9 22.2 64.6 59.7 72.8
Total debt n/a n/a n/a n/a n/a n/a 0.0 48.4 87.6 97.0
Net cash (debt) n/a n/a n/a n/a n/a n/a 22.2 16.3 −27.9 −24.2
Shareholders’ equity 53.8 57.5 71.5 68.7 183.3 201.8 218.7 255.9 263.2 267.4
Debt to equity n/a n/a n/a n/a n/a n/a 0.00 0.19 0.33 0.36

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending July, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Jun 2017 FY2018 29 Jun 2018 FY2019† 28 Jun 2019 FY2020 3 Jul 2020 FY2021 2 Jul 2021 FY2022 1 Jul 2022 FY2023 30 Jun 2023 FY2024 28 Jun 2024 FY2025 27 Jun 2025 FY2026 3 Jul 2026
Revenue and profit
241.9 242.5 243.9 238.6 274.9 303.0 344.4 408.1 434.6 439.7
Growth +0.3% +0.6% −2.1% +15.2% +10.2% +13.7% +18.5% +6.5% +1.2%
166.4 162.0 164.6 153.9 172.3 193.7 222.1 263.4 295.2 301.4
75.5 80.5 79.3 84.7 102.6 109.2 122.4 144.7 139.4 138.3
Growth +6.7% −1.5% +6.8% +21.2% +6.5% +12.0% +18.3% −3.7% −0.8%
18.7 19.8 21.1 19.3 21.8 22.6 24.9 36.4 35.8 28.4
57.2 58.2 56.1 58.0 56.3 57.7 69.8 85.0 89.5 88.5
−1.0 1.3 1.4 3.4 22.2 28.7 24.6 19.4 10.6 19.2
Growth +3.9% +146.9% +557.5% +29.4% −14.4% −21.2% −45.5% +81.9%
−0.6 1.3 1.6 3.7 22.4 30.4 21.3 16.9 3.6 13.2
0.0 −1.0 −8.2 3.5 −87.7 9.3 11.1 6.1 2.2 10.7
−0.8 1.8 9.7 0.3 110.1 21.2 10.2 10.8 1.3 2.5
Growth +427.8% −97.4% +42,755.6% −80.8% −51.9% +5.8% −87.5% +89.3%
Per share
−0.16 0.35 0.91 0.02 9.98 1.89 0.90 0.88 0.11 0.20
−0.16 0.33 0.87 0.02 9.42 1.79 0.86 0.86 0.10 0.19
Growth +163.6% −97.7% +47,000.0% −81.0% −52.0% +0.0% −88.4% +90.0%
5.3 5.3 10.8 10.8 11.0 11.2 11.4 12.2 12.7 12.8
5.3 5.6 11.2 10.9 11.7 11.8 11.9 12.5 12.8 13.0
Growth +6.7% +99.0% −2.7% +6.9% +1.1% +0.3% +5.1% +3.0% +1.6%

† The diluted share count jumps at 2019, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.8% a year over five years.
  • Operating margin is down 3.7 points on five years ago, at 4.4%.
  • A net loss in 1 of 10 years on file.