Aviat Networks, Inc.
AVNW
Radio & Tv Broadcasting & Communications Equipment
Mkt Cap
$360.5MPE
19.72Debt
-Cash
$35.74MEV
-FCF
$13.07MP/E Ratio
19.72Debt
-Cash
$35.74MEV
-FCF
$13.07MAviat Networks, Inc. provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software. It also provides project services, which includes design and engineering, site and path surveys, assembly and integrations, project management, and install and commission; and managed services, such as network and interface monitoring, network health, onsite maintenance, and remote upgrades. In addition, the company offers support services, including extended warranty, warranty plus, provision support, and license key management, as well as instructor and virtual instructor led training, e-learning and certification services. It serves communications service providers and private network operators, including federal, state and local government agencies, transportation agencies, energy and utility companies, public safety agencies, and broadcast network operators. The company markets its products through a direct sales, service, and support organization; indirect sales channels comprising dealers, resellers, and sales representatives; and through online. Aviat Networks, Inc. company was incorporated in 2006 and is headquartered in Austin, Texas.
DCF
Discounted Cash Flow Valuation of Aviat Networks, Inc.
Value
Growth
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Discount
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Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $13.07M | $14.47M | $15.93M | $17.43M | $18.96M | $20.51M | $22.06M | $23.58M | $25.06M | $26.47M | $27.79M | $277.9M |
| DCF | $12.58M | $12.04M | $11.46M | $10.84M | $10.2M | $9.536M | $8.864M | $8.191M | $7.524M | $6.87M | $68.7M | |
| Value | $166.8M | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 68%
Earnings Stability -17%
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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -7.4% | -11% | -0.34% | 0.76% | 4% | 0.11% | 40% | 7% | 3.3% | 5.2% |
| ROA | -11% | -17% | -0.36% | 0.84% | 0.98% | 2.1% | 7.5% | 9.4% | 7.2% | 7.6% |
| ROE | -29% | -56% | -1.5% | 3.2% | 14% | 0.37% | 60% | 10% | 5.2% | 8.1% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +9.21%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +1.76%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +4.68%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +1.79%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +15.5%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is +1.73%.
Safety & Stabiliy
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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | -0.71 | -5.29 | 1.67 | 5.47 | -3.91 | 0.70 | 0.00 | 0.00 | - | - |
| Debt Equity | 0.11 | 0.17 | 0.17 | 0.16 | 0.13 | 0.13 | 0.00 | 0.00 | - | - |
| MIN | ||||||||||
| Graham Stability | - | - | - | - | - | 7.2% | 100% | 53% | 26% | 7.2% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is -.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -0.70.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.07.
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 | 06-2016 | 06-2018 | 07-2020 | 06-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 3.7% | 7.4% | 13% | 14% | 3.5% |
| Net Income | - | 44% | 260% | -46% | -93% |
| Stockholders Equity | 22% | 31% | 47% | 9.1% | 9.9% |
| FCF | - | - | - | - | 1.7% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +7.4%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +3.46%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +44.26%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -93.01%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is +30.79%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +9.94%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is +1.72%.