Aviat Networks, Inc. (AVNW) Key Metrics
AVNW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $243.5M
- Enterprise value
- $282.9M
- P/E (TTM)
- 99.7 10-yr median 38.9
- Forward P/E
- 8.0
- PEG ratio
- 5.33
- Price / sales
- 0.6 10-yr median 0.7
- Price / book
- 1.0 10-yr median 1.5
- EV / EBITDA
- 10.5 10-yr median 10.8
- Dividend yield
- —
- Beta
- 0.68
AVNW key metrics, FY2017–FY2026
Fiscal year ended June 30, 2026 · U.S. dollarsAVNW valuation Price multiples at each fiscal year-end price.
AVNW returns How much profit the business earns on the capital it uses.
AVNW per-share figures Results divided by the shares outstanding at year-end.
AVNW financial health Debt, liquidity and how easily interest is covered.
AVNW efficiency & capital use Working capital cycle and where the cash goes.
AVNW valuation history
AVNW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
AVNW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
AVNW cash returned to shareholders
AVNW price vs earnings per share
AVNW key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $286.8M | $308.5M | $357.4M | $395.6M | $296.0M | $387.3M | $99.8M | $77.0M | $92.4M | $92.1M |
| Enterprise value | $313.2M | $339.7M | $344.9M | $376.1M | $251.1M | $342.5M | $70.9M | $54.0M | $64.0M | $65.2M |
| P/E ratio | 113.0 | 230.0 | 33.2 | 38.9 | 14.0 | 18.3 | 388.3 | 7.9 | 50.1 | — |
| Price / sales | 0.7 | 0.7 | 0.9 | 1.1 | 1.0 | 1.3 | 0.4 | 0.3 | 0.4 | 0.4 |
| Price / book | 1.1 | 1.2 | 1.4 | 1.8 | 1.5 | 1.9 | 1.5 | 1.1 | 1.6 | 1.7 |
| Price / free cash flow | 47.1 | — | 12.8 | — | 296.9 | 26.8 | 7.7 | — | 56.2 | 17.1 |
| Price / operating cash flow | 21.2 | 53.9 | 11.7 | — | 106.1 | 22.4 | 5.7 | 26.1 | 11.3 | 9.8 |
| EV / sales | 0.7 | 0.8 | 0.8 | 1.1 | 0.8 | 1.1 | 0.3 | 0.2 | 0.3 | 0.3 |
| EV / EBITDA | 11.6 | 19.2 | 14.2 | 13.4 | 7.5 | 10.1 | 6.0 | 8.8 | 8.2 | 12.3 |
| EV / free cash flow | 51.4 | — | 12.4 | — | 251.9 | 23.7 | 5.5 | — | 38.9 | 12.1 |
| Earnings yield | 0.9% | 0.4% | 3.0% | 2.6% | 7.1% | 5.5% | 0.3% | 12.7% | 2.0% | −0.9% |
| Free cash flow yield | 2.1% | −2.4% | 7.8% | −1.8% | 0.3% | 3.7% | 12.9% | −3.0% | 1.8% | 5.8% |
| Dividend yield | — | — | — | 0.0% | — | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.9% | 0.2% | 0.1% | 0.3% | 1.8% | 0.7% | 1.8% | 3.1% | 0.0% | 0.0% |
| Share price at fiscal year-end | $22.20 | $24.05 | $28.69 | $33.37 | $25.04 | $32.77 | $9.12 | $6.85 | $8.19 | $8.70 |
| Per share | ||||||||||
| Revenue per share | $34.03 | $33.88 | $32.76 | $29.05 | $25.63 | $25.63 | $21.82 | $21.70 | $21.47 | $22.85 |
| Earnings per share | $0.20 | $0.10 | $0.86 | $0.86 | $1.79 | $1.79 | $0.02 | $0.87 | $0.16 | −$0.08 |
| Operating cash flow per share | $1.05 | $0.45 | $2.45 | −$0.14 | $0.24 | $1.46 | $1.60 | $0.26 | $0.73 | $0.89 |
| Free cash flow per share | $0.47 | −$0.57 | $2.24 | −$0.59 | $0.08 | $1.22 | $1.18 | −$0.20 | $0.15 | $0.51 |
| Cash per share | $5.64 | $4.65 | $5.19 | $1.88 | $4.04 | $4.04 | $3.81 | $2.84 | $3.31 | $3.39 |
| Book value per share | $20.70 | $20.52 | $20.54 | $18.45 | $17.07 | $17.07 | $6.28 | $6.36 | $5.09 | $5.08 |
| Tangible book value per share | $17.37 | $16.89 | $18.79 | $17.26 | $15.87 | $17.07 | $6.28 | $6.36 | $5.09 | $5.08 |
| Dividends per share | — | — | — | $0.01 | — | $0.15 | $0.00 | $0.00 | $0.00 | $0.00 |
| Capex per share | $0.58 | $1.01 | $0.21 | $0.45 | $0.15 | $0.24 | $0.42 | $0.47 | $0.58 | $0.38 |
| Debt per share | $7.68 | $7.09 | $4.19 | $0.23 | $0.25 | $0.25 | $1.17 | $0.80 | $0.80 | $0.85 |
| Shares outstanding | 12.9M | 12.8M | 12.5M | 11.9M | 11.8M | 11.8M | 10.9M | 11.2M | 11.3M | 10.6M |
| Change in shares outstanding | +0.7% | +3.0% | +5.1% | +0.3% | 0.0% | +8.1% | −2.7% | −0.5% | +6.7% | +1.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.0% | 0.5% | 4.5% | 4.8% | 10.5% | 15.6% | 0.4% | 15.1% | 3.3% | −1.5% |
| Return on invested capital (ROIC) | 3.3% | −2.0% | −5.6% | −6.9% | 12.7% | 20.3% | 3.8% | 3.5% | 4.7% | −2.7% |
| Return on assets (ROA) | 0.4% | 0.2% | 2.4% | 3.0% | 6.5% | 8.4% | 0.1% | 6.0% | 1.2% | −0.5% |
| Return on tangible assets | 0.5% | 0.2% | 2.1% | 2.9% | 6.8% | 6.5% | 0.1% | 5.8% | 1.2% | −0.5% |
| Free cash flow margin | 1.4% | −1.7% | 6.8% | −2.0% | 0.3% | 4.8% | 5.4% | −0.9% | 0.7% | 2.2% |
| Income quality (OCF / net income) | 5.34 | 4.27 | 2.84 | −0.16 | 0.13 | 0.82 | 68.07 | 0.30 | 4.45 | — |
| Financial health | ||||||||||
| Total debt | $99.2M | $90.9M | $52.2M | $2.8M | $2.9M | $2.9M | $12.7M | $9.0M | $9.0M | $9.0M |
| Cash & short-term investments | $72.8M | $59.7M | $64.6M | $22.2M | $47.8M | $47.8M | $41.6M | $31.9M | $37.4M | $35.9M |
| Net debt | $26.3M | $31.2M | −$12.4M | −$19.5M | −$44.8M | −$44.8M | −$28.9M | −$22.9M | −$28.4M | −$26.9M |
| Debt / equity | 0.37 | 0.35 | 0.20 | 0.01 | 0.01 | 0.01 | 0.19 | 0.13 | 0.16 | 0.17 |
| Debt / assets | 0.17 | 0.14 | 0.10 | 0.01 | 0.01 | 0.01 | 0.07 | 0.05 | 0.06 | 0.06 |
| Net debt / EBITDA | 0.97 | 1.77 | −0.51 | −0.70 | −1.34 | −1.32 | −2.44 | −3.75 | −3.65 | −5.09 |
| Current ratio | 1.97 | 1.64 | 1.85 | 1.81 | 1.98 | 1.98 | 1.49 | 1.53 | 1.43 | 1.45 |
| Quick ratio | 1.66 | 1.35 | 1.57 | 1.56 | 1.72 | 1.72 | 1.33 | 1.42 | 1.16 | 1.17 |
| Interest coverage | 2.5 | -1.7 | -8.3 | -46.3 | 5.1 | 9.2 | 62.6 | 13.4 | 45.4 | -19.7 |
| Working capital | $216.1M | $181.4M | $186.4M | $105.9M | $101.9M | $101.9M | $46.0M | $43.8M | $37.0M | $38.6M |
| Invested capital | $293.7M | $294.4M | $243.4M | $199.2M | $156.9M | $156.9M | $39.8M | $48.6M | $29.1M | $26.9M |
| Tangible asset value | $224.4M | $216.6M | $234.0M | $204.6M | $187.6M | $201.8M | $68.7M | $71.5M | $57.5M | $54.3M |
| Net current asset value | $107.7M | $93.5M | $125.9M | $91.5M | $84.2M | $84.2M | $28.8M | $28.3M | $24.9M | $26.3M |
| Graham number | $9.57 | $6.95 | $19.98 | $18.87 | $26.22 | $26.22 | $1.82 | $11.14 | $4.33 | — |
| Graham net-net per share | −$1.43 | −$3.07 | $1.04 | $1.67 | $2.41 | $2.41 | −$0.67 | −$0.11 | −$0.60 | −$0.66 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $72,000 | — | $1.7M | $29,000 | $35,000 | $20,000 | $0 |
| Share buybacks (net) | $2.7M | $597,000 | $332,000 | $1.2M | $5.4M | $954,000 | $1.8M | $2.3M | $8,000 | $0 |
| Dividend payout ratio | — | — | — | 0.7% | — | 8.2% | 11.3% | 0.4% | 1.1% | — |
| Dividends + buybacks / free cash flow | 43.8% | — | 1.2% | — | 537.8% | 18.6% | 14.0% | — | 1.7% | 0.0% |
| Capex / revenue | 1.7% | 3.0% | 0.7% | 1.5% | 0.6% | 0.9% | 1.9% | 2.2% | 2.7% | 1.7% |
| Capex / operating cash flow | 55.1% | 226.7% | 8.8% | — | 64.3% | 16.5% | 26.3% | 178.2% | 79.9% | 42.8% |
| Capex / depreciation | 1.22 | 1.61 | 0.54 | 0.86 | 0.40 | 0.56 | 1.05 | 1.17 | 1.26 | 0.69 |
| Stock-based compensation / revenue | 1.4% | 1.6% | 1.8% | 2.0% | 1.3% | 1.0% | 0.7% | 0.7% | 1.0% | 0.9% |
| R&D / revenue | 6.5% | 8.2% | 8.9% | 7.2% | 7.5% | 7.5% | 8.1% | 8.7% | 8.1% | 7.7% |
| SG&A / revenue | 20.1% | 20.6% | 20.8% | 20.3% | 19.0% | 18.6% | 24.3% | 23.0% | 24.0% | 23.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 240.7 | 238.3 | 191.9 | 151.5 | 143.4 | 115.5 | 116.6 | 102.5 | 86.8 | 95.5 |
| Days of inventory on hand | 92.6 | 90.4 | 66.3 | 49.8 | 51.2 | 39.9 | 29.3 | 35.8 | 52.3 | 59.2 |
| Days payables outstanding | 162.0 | 149.0 | 106.0 | 84.3 | 79.9 | 70.1 | 80.1 | 73.7 | 72.6 | 73.3 |
| Cash conversion cycle (days) | 171.3 | 179.8 | 152.2 | 117.1 | 114.7 | 85.4 | 65.8 | 64.6 | 66.5 | 81.5 |
| Receivables turnover | 1.52 | 1.53 | 1.90 | 2.41 | 2.55 | 3.16 | 3.13 | 3.56 | 4.21 | 3.82 |
| Payables turnover | 2.25 | 2.45 | 3.44 | 4.33 | 4.57 | 5.21 | 4.55 | 4.95 | 5.02 | 4.98 |
| Inventory turnover | 3.94 | 4.04 | 5.50 | 7.33 | 7.13 | 9.14 | 12.45 | 10.19 | 6.97 | 6.16 |
| Asset turnover | 0.71 | 0.74 | 0.91 | 1.00 | 0.94 | 1.20 | 1.37 | 1.50 | 1.57 | 1.52 |
| Average receivables | $289.9M | $283.8M | $214.5M | $143.0M | $119.0M | $95.9M | $76.2M | $68.5M | $57.6M | $63.3M |
| Average payables | $133.8M | $120.5M | $76.5M | $51.3M | $42.4M | $37.2M | $33.8M | $33.2M | $32.2M | $33.4M |
| Average inventory | $76.5M | $73.1M | $47.8M | $30.3M | $27.2M | $21.2M | $12.4M | $16.2M | $23.2M | $27.0M |
| Intangibles / total assets | 7.2% | 7.4% | 4.1% | 3.9% | 4.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from AVNW's annual financial statements (latest annual report filed August 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
AVNW valuation and financial ratios
At the end of fiscal 2026 (June 30, 2026), Aviat Networks traded at 113.0 times earnings, against a 10-year median of 38.9. Based on the latest twelve months, the trailing P/E is 99.7 and the forward P/E is 8.0. Aviat Networks earned a return on equity of 1.0% and a return on invested capital of 3.3% in fiscal 2026. It ended the year with $99.2 million of debt and $72.8 million in cash and short-term investments, net debt of $26.3 million. It returned $2.7 million to shareholders: $0 in dividends and $2.7 million in share buybacks, 44% of free cash flow. The share count rose 22.1% from 10.6M to 12.9M over 9 years.
See the AVNW income statement, the AVNW chart for price history, or the AVNW stock overview for the latest quote and news.
AVNW key metrics FAQ
What is Aviat Networks's P/E ratio?
Aviat Networks's trailing P/E ratio is 99.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 8.0. At the end of fiscal 2026 it was 113.0, compared with a 10-year median of 38.9.
What is Aviat Networks's EV/EBITDA?
Aviat Networks's enterprise value was 11.6 times EBITDA at the end of fiscal 2026 (enterprise value $313.2 million, EBITDA $27.0 million); the current EV/EBITDA is 10.5.
What is Aviat Networks's return on equity?
Aviat Networks's return on equity (ROE) was 1.0% in fiscal 2026: net income of $2.5 million on average shareholders' equity of $265.3 million.
What is Aviat Networks's ROIC?
Aviat Networks's return on invested capital was 3.3% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Aviat Networks have?
Aviat Networks had total debt of $99.2 million at the end of fiscal 2026, a debt-to-equity ratio of 0.37 and $26.3 million of net debt (0.97 times EBITDA).
Does Aviat Networks buy back its shares?
Yes. Aviat Networks spent $2.7 million on net share repurchases in fiscal 2026 Shares outstanding changed +0.7% over the year, to 12.9M..
What is Aviat Networks's free cash flow yield?
Aviat Networks generated $6.1 million of free cash flow in fiscal 2026, a free cash flow yield of 2.1% on its market value at year-end ($286.8 million).
What is Aviat Networks's current ratio?
Aviat Networks's current ratio was 1.97 at the end of fiscal 2026: current assets were 1.97 times current liabilities.