Aviat Networks, Inc.

Technology
Radio And Television Broadcasting And Communications Equipment
www.aviatnetworks.com

Earnings Score
Moat Score
Safety Score

Market Cap $224.85M
PE -44
Debt $86.15M
Cash $52.18M
EV $258.81M
FCF -$17.98M

Earnings

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Sales & Net Margins

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Earnings	-$5.12M
EBIT	-$1.71M
ROE	-2%
ROA	-0%
FCF	-$17.98M
Equity	$247.11M
Growth Stability	7%
PE	-43.88
PEG	-1.87
PB	0.91
P/FCF	-12.5
P/S	0.55
Price/Cash	0.23
Debt/Equity	0.35
Debt/FCF	-4.79
Net Margins	-13%
Gross Margins	32%
Op. Margins	-0%
Earnings CAGR	26%
Sales Growth YoY	1%
Sales Growth QoQ	-22%
Sales CAGR	5%
FCF CAGR	4%
Equity CAGR	18%
Earnings Stability	0.14
Earnings Growth YoY	-397%
Earnings Growth QoQ	-3K%

Earnings CAGR 5Y	24%
Sales CAGR 5Y	13%
FCF CAGR 5Y	4%
Equity CAGR 5Y	34%
Earnings CAGR 3Y	14%
Sales CAGR 3Y	14%
FCF CAGR 3Y	77%
Equity CAGR 3Y	12%
Market Cap	$224.85M
Revenue	$408.95M
Assets	$590.86M
Total Debt	$86.15M
Cash	$52.18M
Shares Outstanding	12.65M
EV	258.81M
Earnings Score	9%
Moat Score	9%
Safety Score	37%
Final Score	19%
Working Capital	179.07M
Current Ratio	1.72
Gross Profit	$132.67M
Shares Growth 3y	4%
Equity Growth QoQ	-3%
Equity Growth YoY	9%

Assets & ROA

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Stockholders Equity & ROE

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Aviat Networks Inc is a networking solutions provider. It designs, manufactures and sells wireless networking products, solutions, and services to mobile and fixed operators, private network operators, government agencies, transportation and utility companies, public safety agencies and broadcast network operators around the world. The company's product categories include point-to-point microwave and millimeter wave radios that are licensed (subject to local frequency regulatory requirements), lightly-licensed and license-exempt (operating in license-exempt frequencies), and element and network management software. Primarily the firm's concentrations for most of the Sales and Service resources are in the United States, Western and Southern Africa, the Philippines, and the European Union.

SEC Filings

Direct access to Aviat Networks, Inc. (AVNW) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 27
- 10-K Jun 28
- 10-Q Mar 29
2023
- 10-Q Dec 29
- 10-Q Sep 29
- 10-K Jun 30
- 10-Q Mar 31
2022
- 10-Q Dec 30
- 10-Q Sep 30
- 10-K Jul 01
- 10-Q Apr 01

Sector Comparison

How does Aviat Networks, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Aviat Networks, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 26%

Stability 14%

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Aviat Networks, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Aviat Networks, Inc..

Years

Calculation mode

= -$242M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$18M	-$19M	-$20M	-$20M	-$21M	-$22M	-$23M	-$24M	-$25M	-$26M	-$27M	-$275M
DCF		-$17M	-$16M	-$15M	-$15M	-$14M	-$13M	-$12M	-$12M	-$11M	-$11M	-$106M
Value	-$242M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	07/2015	06/2016	06/2017	06/2018	06/2019	07/2020	07/2021	06/2022	06/2023	06/2024	TTM
Net Margins	-7%	-11%	-0%	1%	4%	0%	40%	7%	3%	3%	-13%
ROA	-	-17%	-0%	1%	1%	2%	8%	9%	7%	4%	-0%
ROE	-	-56%	-2%	3%	14%	0%	60%	10%	5%	4%	-2%

Bad Net Margins (-13.43%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	07/2015	06/2016	06/2017	06/2018	06/2019	07/2020	07/2021	06/2022	06/2023	06/2024	TTM
Debt over FCF	-	-5.29	1.67	5.47	-3.91	0.7	0	0	-0	1.84	-4.79
Debt over Equity	0.11	0.17	0.17	0.16	0.13	0.13	0	0	0	0.2	0.35
Growth Stability	-	-	-	-	-	7%	100%	53%	26%	23%	7%

Good Debt/FCF ratio (-4.79)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.35)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (7%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	07/2015	06/2016	06/2017	06/2018	06/2019	07/2020	07/2021	06/2022	06/2023	06/2024	CAGR 5Y
Revenue YoY growth	-	-20%	-10%	0%	1%	-2%	15%	10%	14%	18%	13%
Earnings YoY growth	-	21%	-97%	-324%	428%	-97%	43K%	-81%	-46%	-7%	24%
Equity YoY growth	-	-36%	2%	6%	24%	-4%	167%	10%	9%	16%	34%
FCF YoY growth	-	-87%	-417%	-69%	-240%	-660%	12%	-93%	-800%	-499%	4%