Stocks · Technology · Communication Equipment
Aviat Networks, Inc. AVNW
$20.54 -0.68% Close, Oct 5, 2026 · NASDAQ · Market cap $267.6M
Next earnings report: Nov 3, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Diluted EPS over the last four quarters was $0.19, up 140.6% year over year.
- The shares trade at 106.7× trailing earnings, higher than 88% of the company's own readings over the past five years.
- Operating margin widened to 4.5% from -2.4% a year earlier.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 20%
- EPS growth (TTM, YoY)Top 15%
- Revenue growth, 3-year CAGRTop 46%
- Revenue growth accelerationTop 46%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 42%
- Gross marginBottom 22%
- Operating marginBottom 49%
- Cash conversion (OCF / net income)Top 11%
- Accruals (lower is better)Bottom 21%
- Net debt / EBITDA (lower is better)Bottom 42%
- Interest coverBottom 45%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 48%
- Free-cash-flow yieldBottom 44%
- EBITDA / enterprise valueTop 14%
- Sales / enterprise valueTop 6%
- P/E vs own 5-year history (lower is better)Bottom 19%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 36%
- 6-month returnBottom 27%
- 1-year return vs S&P 500Bottom 40%
- Distance from 52-week highTop 40%
- Trend checklist (0–4)Bottom 38%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 20%
- Consecutive EPS beatsBottom 31%
- Share of analysts rating BuyTop 33%
- Upside to consensus price targetTop 25%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 17%
- Maximum drawdown, 3 yearsBottom 43%
- Beta vs S&P 500 (lower is better)Top 7%
- Net debt / EBITDA (lower is better)Bottom 42%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 0.2% | 1.2% | ↑ |
| Gross margin | 32.1% | 31.5% | ↓ |
| Operating margin | -2.4% | 4.5% | ↑ |
| FCF margin | -1.7% | 1.4% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 1.2% | 0.2% | ↑ | Bottom 20% |
| EPS growth (TTM, YoY) | 140.6% | — | Top 15% | |
| Gross margin | 31.5% | 32.1% | ↓ | Bottom 22% |
| Operating margin | 4.5% | -2.4% | ↑ | Bottom 49% |
| Net margin | 0.6% | 0.3% | ↑ | — |
| Free-cash-flow margin | 1.4% | -1.7% | ↑ | — |
| Return on invested capital | 1.0% | — | Bottom 42% | |
| Revenue growth, 3-year CAGR | 8.5% | — | Top 46% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 3.00×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -1.8%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.4%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -11.4 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 0.97×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 2.5×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 0.70%
- Shareholder yield
- 0.70%
- Share count change, 1 year
- +0.6%
- Share count change, 3-year CAGR
- +2.7%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jul 3, 2026 (filed Aug 27, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 1
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- -5.4%
- Average 2-day reaction, last 8
- +1.6%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $32.33
- Target vs current price
- +57.4%
- Analysts with a rating
- 12
- Share rating Buy or Strong Buy
- 75%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 27, 2026 | +17.2% | +2.5% | -7.9% | -4.6% | — |
| May 4, 2026 | -85.7% | -2.1% | -31.6% | -23.1% | -15.5% |
| Feb 3, 2026 | +12.5% | -0.9% | +15.6% | +14.2% | -5.1% |
| Nov 4, 2025 | +34.4% | -1.0% | -4.1% | -15.1% | -10.8% |
| Sep 10, 2025 | +93.0% | +1.3% | +5.0% | -1.3% | -5.8% |
| May 6, 2025 | +282.6% | +3.5% | +7.6% | +18.7% | +13.7% |
| Feb 4, 2025 | +811.1% | +5.1% | +18.5% | +4.9% | -10.2% |
| Nov 5, 2024 | -4450.0% | +4.0% | -27.5% | -16.6% | -2.8% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 27, 2026 | $0.64 | $0.55 | +17.2% | $120.9M |
| May 4, 2026 | $0.06 | $0.42 | -85.7% | $100.0M |
| Feb 3, 2026 | $0.54 | $0.48 | +12.5% | $111.5M |
| Nov 4, 2025 | $0.43 | $0.32 | +34.4% | $107.3M |
| Sep 10, 2025 | $0.83 | $0.43 | +93.0% | $112.6M |
| May 6, 2025 | $0.88 | $0.23 | +282.6% | $112.6M |
| Feb 4, 2025 | $0.82 | $0.09 | +811.1% | $118.2M |
| Nov 5, 2024 | -$0.87 | $0.02 | -4450.0% | $88.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 106.7× | 24.9× | 88th | Bottom 48% |
| P/E (forward) | 8.1× | — | — | — |
| EV / EBITDA | 10.9× | — | — | Top 14% |
| EV / Sales | 0.67× | — | — | Top 6% |
| Free-cash-flow yield | 2.28% | — | — | Bottom 44% |
| Earnings yield | 0.94% | — | — | Bottom 48% |
P/E over the past five years
Range 3.4× – 283.6× since Jul 2, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -8.5%
- Earnings per share growth (TTM)
- +140.6%
- Change in P/E multiple
- -60.7%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✗ Price above 200-day average
- ✗ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 2
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -1.8%
- 200-day average slope (20 days)
- -0.6%
- Distance from 50-day average
- +0.4%
- Distance from 200-day average
- -3.6%
- RSI (14)
- 54.0
- Relative volume
- 0.68×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 39.5%
- Volatility vs own 5-year history
- 18th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.61
- Correlation with S&P 500
- 0.18
- Current drawdown from 1-year high
- -23.2%
- Maximum drawdown, 3 years
- -64.3%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Apr 6, 2021 | Nov 6, 2024 | -67.4% | 904 days | Not yet recovered |
| Feb 22, 2021 | Mar 8, 2021 | -24.8% | 10 days | 17 days (Mar 31, 2021) |
| Dec 8, 2020 | Dec 29, 2020 | -19.0% | 14 days | 22 days (Feb 1, 2021) |
| Sep 29, 2020 | Oct 30, 2020 | -18.7% | 23 days | 6 days (Nov 9, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $267.6M
- P/E (TTM)
- 106.7
- EPS, diluted (TTM)
- $0.19
- Revenue (TTM)
- $439.7M
- 52-week range
- $13.92 – $27.02
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Revenue | $303.0M | $344.4M | $408.1M | $434.6M | $439.7M |
| Gross profit | $109.2M | $122.4M | $144.7M | $139.4M | $138.3M |
| Operating income | $28.7M | -$24.6M | -$19.4M | -$10.6M | $19.6M |
| Net income | $21.2M | $10.2M | $10.8M | $1.3M | $2.5M |
| EPS (diluted) | $1.79 | $0.86 | $0.86 | $0.10 | $0.19 |
| Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $88.4M | $118.2M | $112.6M | $115.3M | $107.3M | $111.5M | $100.0M | $120.9M |
| Net income | -$11.9M | $4.5M | $3.5M | $5.2M | $162,000 | $5.7M | -$2.1M | -$1.3M |
| EPS (diluted) | -$0.94 | $0.35 | $0.27 | $0.40 | $0.01 | $0.44 | -$0.16 | -$0.10 |
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.8M | -$1.6M | $30.5M | $5.7M | $13.6M |
| Capital expenditure | -$1.8M | -$5.3M | -$2.7M | -$13.0M | -$7.5M |
| Free cash flow | $997,000 | -$7.0M | $27.9M | -$7.2M | $6.1M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$5.4M | $1.3M | -$332,000 | -$597,000 | -$2.1M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $72.8M
- Total assets
- $599.0M
- Total liabilities
- $331.6M
- Total debt
- $99.2M
- Net debt
- $26.3M
- Shareholders’ equity
- $267.4M
As of Jul 3, 2026 (filed Aug 27, 2026).
Short interest
- Shares sold short
- 1,010,354
- Days to cover
- 5.22
- Change vs previous report
- -7.9%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Apr 8, 2021
- 2-for-1
- Jun 14, 2016
- 1-for-12
- Jan 29, 2007
- 1-for-4
- Nov 25, 1997
- 2-for-1