Aviat Networks, Inc. (AVNW) Balance Sheet
AVNW balance sheet, FY2026
June 30, 2026 · U.S. dollars$599.0M assets = $331.6M liabilities + $267.4M equity
Both columns are drawn to the same scale: what AVNW owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AVNW financial health
Current ratio1.97
Comfortable · current assets cover current liabilities 1.97×
Debt / equity0.37
Low leverage · $0.37 of debt for each $1 of equity
Equity / assets44.6%
Equity-funded · of assets funded by shareholders
Cash / debt73.4%
Partial cover · cash & short-term investments vs total debt
Goodwill & intangibles7.2%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
AVNW balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $152.6MFY2017 | $599.0MFY2026 | +16.4%/yr | |
| Total liabilities | $98.2MFY2017 | $331.6MFY2026 | +14.5%/yr | |
| Shareholders’ equity | $53.8MFY2017 | $267.4MFY2026 | +19.5%/yr | |
| Cash & short-term investments | $35.9MFY2017 | $72.8MFY2026 | +8.2%/yr | |
| Total debt | $9.0MFY2017 | $99.2MFY2026 | +30.6%/yr | |
| Net cash (debt) | $26.9MFY2017 | −$26.3MFY2026 | −$53.3M | |
| Working capital | $38.6MFY2017 | $216.1MFY2026 | +$177.5M | |
| Book value per share | $5.08FY2017 | $20.70FY2026 | +16.9%/yr | |
| Current ratio | 1.45FY2017 | 1.97FY2026 | +0.52 | |
| Debt / equity | 0.17FY2017 | 0.37FY2026 | +0.20 | |
| Shares outstanding | 10.6MFY2017 | 12.9MFY2026 | +2.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AVNW assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
AVNW liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
AVNW debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AVNW balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $72.8M | $59.7M | $64.6M | $22.2M | $47.8M | $47.8M | $41.6M | $31.9M | $37.4M | $35.9M |
| Cash & equivalents | $72.8M | $59.7M | $64.6M | $22.2M | $36.9M | $36.9M | $41.6M | $31.9M | $37.4M | $35.7M |
| Short-term investments | $379,000 | — | — | $2,000 | $10.9M | $10.9M | — | — | $3,000 | $264,000 |
| Receivables | $274.4M | $305.5M | $262.1M | $167.0M | $119.0M | $119.0M | $72.7M | $79.7M | $57.2M | $58.1M |
| Inventory | $69.0M | $84.0M | $62.3M | $33.4M | $27.2M | $27.2M | $15.2M | $9.5M | $22.8M | $23.7M |
| Other current assets | $23.0M | $14.4M | $16.3M | $13.3M | $12.4M | $12.4M | $10.4M | $4.8M | $6.0M | $6.9M |
| Total current assets | $439.2M | $463.6M | $405.2M | $235.9M | $206.4M | $206.4M | $139.9M | $126.0M | $123.5M | $124.6M |
| Property, plant & equipment (net) | $20.8M | $20.6M | $13.2M | $12.0M | $11.6M | $11.6M | $20.4M | $17.3M | $17.2M | $16.4M |
| Goodwill & intangible assets | $43.0M | $46.6M | $21.9M | $14.2M | $14.2M | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $96.0M | $102.6M | $94.9M | $101.1M | $91.7M | $105.9M | $19.5M | $25.9M | $15.4M | $11.6M |
| Total assets | $599.0M | $633.3M | $535.2M | $363.1M | $323.9M | $323.9M | $179.8M | $169.2M | $156.1M | $152.6M |
| Liabilities | ||||||||||
| Accounts payable | $119.5M | $148.1M | $92.9M | $60.1M | $42.4M | $42.4M | $32.0M | $35.6M | $30.9M | $33.6M |
| Short-term debt | $8.3M | $19.7M | $3.4M | $610,000 | $513,000 | $513,000 | $10.4M | $9.0M | $9.0M | $9.0M |
| Deferred revenue | $59.9M | $73.7M | $58.8M | $44.3M | $33.7M | $33.7M | $21.9M | $14.0M | $19.3M | $20.0M |
| Total current liabilities | $223.2M | $282.2M | $218.9M | $130.1M | $104.5M | $104.5M | $94.0M | $82.2M | $86.5M | $86.0M |
| Long-term debt | $89.1M | $69.0M | $46.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $2.2M | $3.3M | $3.8M | $2.8M | $2.9M | $4.0M | $3.7M | — | — | — |
| Other long-term liabilities | $19.3M | $19.0M | $14.5M | $14.3M | $17.7M | $17.7M | $17.1M | $15.5M | $12.1M | $12.2M |
| Total liabilities | $331.6M | $370.1M | $279.3M | $144.4M | $122.2M | $122.2M | $111.1M | $97.7M | $98.5M | $98.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $129,000 | $127,000 | $126,000 | $115,000 | $112,000 | $112,000 | $108,000 | $54,000 | $816.5M | $813.8M |
| Retained earnings (deficit) | −$574.6M | −$577.2M | −$578.5M | −$589.3M | −$599.4M | −$599.4M | −$730.7M | −$731.0M | −$746.4M | −$748.2M |
| Treasury stock | — | — | — | — | — | −$787,000 | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$20.4M | −$18.8M | −$19.3M | −$16.0M | −$16.0M | −$16.0M | −$15.0M | −$12.7M | −$12.6M | −$11.8M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $543,000 |
| Total shareholders' equity | $267.4M | $263.2M | $255.9M | $218.7M | $201.8M | $201.8M | $68.7M | $71.5M | $57.5M | $53.8M |
| Key figures | ||||||||||
| Total debt | $99.2M | $90.9M | $52.2M | $2.8M | $2.9M | $2.9M | $12.7M | $9.0M | $9.0M | $9.0M |
| Net cash (debt) | −$26.3M | −$31.2M | $12.4M | $19.5M | $44.8M | $44.8M | $28.9M | $22.9M | $28.4M | $26.9M |
| Working capital | $216.1M | $181.4M | $186.4M | $105.9M | $101.9M | $101.9M | $46.0M | $43.8M | $37.0M | $38.6M |
| Tangible book value | $224.4M | $216.6M | $234.0M | $204.6M | $187.6M | $201.8M | $68.7M | $71.5M | $57.5M | $53.8M |
| Book value per share | $20.70 | $20.52 | $20.54 | $18.45 | $17.07 | $17.07 | $6.28 | $6.36 | $5.09 | $5.08 |
| Shares outstanding | 12.9M | 12.8M | 12.5M | 11.9M | 11.8M | 11.8M | 10.9M | 11.2M | 11.3M | 10.6M |
| Current ratio | 1.97 | 1.64 | 1.85 | 1.81 | 1.98 | 1.98 | 1.49 | 1.53 | 1.43 | 1.45 |
| Quick ratio | 1.56 | 1.29 | 1.49 | 1.45 | 1.60 | 1.60 | 1.22 | 1.36 | 1.09 | 1.09 |
| Debt / equity | 0.37 | 0.35 | 0.20 | 0.01 | 0.01 | 0.01 | 0.19 | 0.13 | 0.16 | 0.17 |
| Equity / assets | 44.6% | 41.6% | 47.8% | 60.2% | 62.3% | 62.3% | 38.2% | 42.3% | 36.9% | 35.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $72.8M | $78.1M | $86.5M | $64.8M | $59.7M | $49.4M | $52.6M | $51.0M | $64.6M | $49.4M | $52.6M | $51.0M |
| Cash & equivalents | $72.8M | $78.1M | $86.5M | $64.8M | $59.7M | $49.4M | $52.6M | $51.0M | $64.6M | $49.4M | $52.6M | $51.0M |
| Short-term investments | $379,000 | — | — | — | — | — | — | — | — | $988,000 | — | — |
| Receivables | $274.4M | $272.9M | $316.9M | $312.3M | $305.5M | $299.5M | $279.0M | $281.6M | $158.0M | $299.5M | $279.0M | $281.6M |
| Inventory | $69.0M | $72.6M | $76.6M | $84.0M | $84.0M | $93.2M | $76.5M | $79.6M | $62.3M | $93.2M | $76.5M | $79.6M |
| Other current assets | $23.0M | $26.7M | $13.8M | $13.4M | $14.4M | $14.5M | $14.8M | $15.1M | $120.3M | $14.5M | $14.8M | $15.1M |
| Total current assets | $439.2M | $450.4M | $493.9M | $474.5M | $463.6M | $456.6M | $422.9M | $427.3M | $405.2M | $456.6M | $422.9M | $427.3M |
| Property, plant & equipment (net) | $20.8M | $21.2M | $21.9M | $21.5M | $20.6M | $19.0M | $17.7M | $15.5M | $13.2M | $19.0M | $17.7M | $15.5M |
| Goodwill & intangible assets | $43.0M | $43.9M | $44.7M | $45.3M | $46.6M | $46.0M | $46.5M | $43.9M | $21.9M | $46.0M | $46.5M | $43.9M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $96.0M | $101.1M | $98.9M | $102.0M | $102.6M | $106.7M | $107.0M | $104.1M | $94.9M | $106.7M | $107.0M | $104.1M |
| Total assets | $599.0M | $616.5M | $659.4M | $643.3M | $633.3M | $628.3M | $594.1M | $590.9M | $535.2M | $628.3M | $594.1M | $590.9M |
| Liabilities | ||||||||||||
| Accounts payable | $119.5M | $112.1M | $145.4M | $142.4M | $148.1M | $137.7M | $124.1M | $104.9M | $92.9M | $137.7M | $124.1M | $104.9M |
| Short-term debt | $8.3M | $6.1M | $5.2M | $5.4M | $19.7M | $4.9M | $5.0M | $3.5M | — | $4.9M | $5.0M | $3.5M |
| Deferred revenue | $59.9M | $67.8M | $84.5M | $73.4M | $73.7M | $85.7M | $71.1M | $79.4M | — | $85.7M | $71.1M | $79.4M |
| Total current liabilities | $223.2M | $226.3M | $267.1M | $258.2M | $282.2M | $282.1M | $252.3M | $248.2M | $218.9M | $282.1M | $252.3M | $248.2M |
| Long-term debt | $89.1M | $98.7M | $100.9M | $102.0M | $69.0M | $70.2M | $71.1M | $81.0M | $46.0M | $46.6M | $47.2M | $0 |
| Lease obligations | $2.2M | $2.4M | $3.0M | $2.9M | $3.3M | $3.6M | $3.8M | $3.9M | $3.8M | $3.1M | $3.3M | $3.2M |
| Other long-term liabilities | $19.3M | $19.8M | $19.7M | $19.4M | $19.0M | $19.9M | $21.1M | $14.6M | $14.5M | $43.6M | $45.1M | $95.5M |
| Total liabilities | $331.6M | $344.8M | $387.7M | $379.7M | $370.1M | $372.2M | $344.5M | $343.7M | $279.3M | $372.2M | $344.5M | $343.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $129,000 | $129,000 | $129,000 | $128,000 | $127,000 | $127,000 | $127,000 | $127,000 | — | $127,000 | $127,000 | $127,000 |
| Retained earnings (deficit) | −$574.6M | −$573.4M | −$571.3M | −$577.0M | −$577.2M | −$582.4M | −$585.9M | −$590.4M | −$578.5M | −$582.4M | −$585.9M | −$590.4M |
| Accumulated other comprehensive income | −$20.4M | −$17.8M | −$18.6M | −$19.7M | −$18.8M | −$19.5M | −$20.6M | −$17.2M | — | −$19.5M | −$20.6M | −$17.2M |
| Total shareholders' equity | $267.4M | $271.8M | $271.6M | $263.6M | $263.2M | $256.1M | $249.6M | $247.1M | $255.9M | $256.1M | $249.6M | $247.1M |
| Key figures | ||||||||||||
| Total debt | $99.2M | $106.7M | $108.4M | $109.4M | $90.9M | $77.5M | $78.6M | $87.3M | $46.0M | $77.5M | $78.6M | $87.3M |
| Net cash (debt) | −$26.3M | −$28.5M | −$21.9M | −$44.6M | −$31.2M | −$28.1M | −$26.1M | −$36.2M | $18.7M | −$28.1M | −$26.1M | −$36.2M |
| Working capital | $216.1M | $224.1M | $226.8M | $216.3M | $181.4M | $174.5M | $170.6M | $179.1M | $186.4M | $174.5M | $170.6M | $179.1M |
| Tangible book value | $224.4M | $227.9M | $226.9M | $218.3M | $216.6M | $210.1M | $203.1M | $203.2M | $234.0M | $210.1M | $203.1M | $203.2M |
| Book value per share | $20.70 | $21.04 | $20.89 | $20.32 | $20.50 | $19.95 | $19.52 | $19.54 | $20.27 | $20.25 | $19.45 | $20.69 |
| Shares outstanding | 12.9M | 12.9M | 13.0M | 13.0M | 12.8M | 12.8M | 12.8M | 12.6M | 12.6M | 12.6M | 12.8M | 11.9M |
| Current ratio | 1.97 | 1.99 | 1.85 | 1.84 | 1.64 | 1.62 | 1.68 | 1.72 | 1.85 | 1.62 | 1.68 | 1.72 |
| Quick ratio | 1.56 | 1.55 | 1.51 | 1.46 | 1.29 | 1.24 | 1.31 | 1.34 | 1.02 | 1.24 | 1.31 | 1.34 |
| Debt / equity | 0.37 | 0.39 | 0.40 | 0.41 | 0.35 | 0.30 | 0.32 | 0.35 | 0.18 | 0.30 | 0.32 | 0.35 |
| Equity / assets | 44.6% | 44.1% | 41.2% | 41.0% | 41.6% | 40.8% | 42.0% | 41.8% | 47.8% | 40.8% | 42.0% | 41.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed August 27, 2026); data from EODHD.
AVNW financial position
At the end of fiscal 2026 (June 30, 2026), Aviat Networks had total assets of $599.0 million (down 5.4% from a year earlier), total liabilities of $331.6 million and shareholders' equity of $267.4 million. It held $72.8 million in cash and short-term investments against $99.2 million of debt, net debt of $26.3 million. Its current ratio was 1.97.
Related: AVNW income statement, AVNW cash flow statement, AVNW key metrics. See the AVNW stock overview for the latest quote and news.
AVNW balance sheet FAQ
What are Aviat Networks's total assets?
Aviat Networks reported total assets of $599.0 million at the end of fiscal 2026 (June 30, 2026), compared with $633.3 million a year earlier.
How much debt does Aviat Networks have?
Aviat Networks had $99.2 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.37.
How much cash does Aviat Networks have?
Aviat Networks held $72.8 million in cash and short-term investments at the end of fiscal 2026; with $99.2 million of debt that is net debt of $26.3 million.
What is Aviat Networks's book value?
Aviat Networks's shareholders' equity (book value) was $267.4 million at the end of fiscal 2026, or $20.70 per share.
What is Aviat Networks's current ratio?
Aviat Networks had current assets of $439.2 million and current liabilities of $223.2 million, a current ratio of 1.97 (it can cover its short-term obligations).
How much goodwill does Aviat Networks have?
Aviat Networks carried $43.0 million of goodwill and intangible assets, 7.2% of total assets, at the end of fiscal 2026.