Aviat Networks, Inc.

AVNW

AVNWAviat Networks, Inc. US flag

NASDAQ Global Select

17.42

USD

-0.70

- -

225.41MMarket Cap

Income Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	452	444	471	346	336	269	242	243	244	239	275	303	344	408	435
+ Sales & Services Revenue	452	444	471	346	336	269	242	243	244	239	275	303	344	408	435
- Cost of Revenue	324	312	333	261	255	207	166	162	165	154	172	194	222	263	295
+ Cost of Goods & Services	324	312	333	261	255	207	166	162	165	154	172	194	222	263	295
Gross Profit	128	132	138	85	81	62	75	81	79	85	103	109	122	145	139
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	151	137	135	125	102	87	76	78	77	77	78	80	95	121	125
+ Selling, General & Admin	108	100	96	89	76	66	57	58	56	58	56	58	70	85	89
+ Research & Development	40	36	39	35	25	21	19	20	21	19	22	23	25	36	36
+ Other Operating Expense	3	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	-23	-5	3	-39	-21	-25	- -	3	2	7	24	29	28	23	14
- Non-Operating (Income) Loss	22	9	2	11	5	4	- -	1	1	4	2	-1	6	6	11
+ Interest Expense, Net	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	2	6
+ Interest Expense	2	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	2	6
- Interest Income	- -	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	20	8	2	11	5	4	- -	1	1	4	2	-1	6	4	5
Pretax Income	-45	-14	1	-51	-26	-29	-1	1	2	4	22	30	21	17	4
- Income Tax Expense (Benefit)	14	2	13	1	-1	2	- -	-1	-8	3	-88	9	11	6	2
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-59	-16	-13	-52	-25	-30	-1	2	10	- -	110	21	10	11	1
- Net Extraordinary Losses (Gains)	32	9	4	-1	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	-32	-9	-4	1	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	63	17	8	-2	- -	-1	- -	1	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-90	-24	-17	-51	-25	-30	-1	1	10	- -	110	21	10	11	1
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-90	-24	-17	-51	-25	-30	-1	2	10	- -	110	21	10	11	1
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-90	-24	-17	-51	-25	-30	-1	2	10	- -	110	21	10	11	1
EBIT	-23	-5	3	-39	-21	-25	- -	3	2	7	24	29	28	23	14
EBITDA	-11	2	10	-32	-13	-18	5	8	7	12	30	33	34	28	22
EBITDA Margin (%)	-2.39	0.41	2.06	-9.23	-4	-6.83	2.25	3.21	2.7	4.95	10.86	11.04	9.82	6.93	5.12
EBITA	-23	-5	3	-39	-21	-25	- -	3	2	7	24	29	28	23	14
Gross Margin (%)	28.33	29.66	29.37	24.62	24.02	22.97	31.2	33.2	32.51	35.49	37.33	36.06	35.53	35.47	32.08
Operating Margin (%)	-5.04	-1.22	0.66	-11.4	-6.27	-9.3	-0.16	1.07	0.86	3.11	8.91	9.57	8.02	5.7	3.26
Profit Margin (%)	-20.02	-5.43	-3.54	-14.77	-7.33	-11.13	-0.34	0.76	3.99	0.11	40.06	6.98	2.95	2.64	0.31
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	12	7	7	8	8	7	6	5	4	4	5	4	6	5	8
Basic Weighted Avg Shares	10	10	10	10	10	10	11	11	11	11	11	11	11	12	13
Basic EPS, GAAP	-9.27	-2.45	-1.67	-4.98	-2.38	-2.85	-0.08	0.17	0.91	0.02	9.98	1.89	0.9	0.88	0.11
Basic EPS from Cont Ops	-6.02	-1.58	-1.26	-5.07	-2.38	-2.88	-0.06	0.22	0.91	0.02	9.98	1.89	0.9	0.88	0.11
Diluted Weighted Avg Shares	10	10	10	10	10	10	11	11	11	11	12	12	12	12	13
Diluted EPS, GAAP	-9.27	-2.45	-1.67	-4.98	-2.38	-2.85	-0.08	0.16	0.87	0.02	9.42	1.79	0.86	0.86	0.1
Diluted EPS from Cont Ops	-6.02	-1.58	-1.26	-5.07	-2.38	-2.88	-0.06	0.2	0.87	0.02	9.42	1.79	0.86	0.86	0.1

Balance Sheet (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	350	305	274	218	191	140	125	123	126	140	170	206	236	405	464
+ Cash, Cash Equivalents & STI	98	96	90	49	35	31	36	37	32	42	48	48	22	65	60
+ Cash & Cash Equivalents	98	96	90	49	35	30	36	37	32	42	48	37	22	65	60
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11	- -	- -	- -
+ Accounts & Notes Receiv	133	117	115	101	101	69	58	57	80	73	86	119	167	262	305
+ Accounts Receivable, Net	143	91	86	77	84	63	46	43	52	45	48	73	101	158	180
+ Notes Receivable, Net	4	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	-14	25	29	24	17	5	12	14	28	28	38	46	66	104	125
+ Inventories	72	75	51	50	39	30	24	23	10	15	25	27	33	62	84
+ Raw Materials	3	1	9	8	8	2	2	3	4	5	8	10	13	15	26
+ Work In Process	6	7	4	5	4	5	3	3	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	41	49	22	25	21	20	17	15	5	9	15	15	19	45	56
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	21	18	16	11	6	3	2	2	1	1	1	2	2	2	2
+ Other ST Assets	47	17	18	19	16	11	7	6	5	10	12	12	13	16	14
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	34	25	32	35	34	26	28	33	43	40	127	118	127	130	170
+ Property, Plant & Equip, Net	22	22	29	29	24	18	16	17	17	20	16	12	12	13	21
+ Property, Plant & Equip	63	64	72	71	69	70	70	76	80	86	84	80	73	75	83
- Accumulated Depreciation	41	42	43	42	45	52	54	59	62	66	68	68	61	62	62
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	12	3	3	6	9	8	12	15	26	19	112	106	115	117	149
+ Total Intangible Assets	10	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	14	22	47
+ Goodwill	6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5	8	20
+ Other Intangible Assets	4	2	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	14	27
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	2	2	2	5	9	8	12	15	26	19	112	106	101	95	103
Total Assets	384	330	306	253	225	166	153	156	169	180	298	324	363	535	633
+ Payables & Accruals	121	95	84	69	66	49	47	48	51	47	47	57	74	125	177
+ Accounts Payable	70	56	51	46	47	33	34	31	36	32	32	42	60	93	148
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5	9	12
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	50	40	34	23	20	16	14	17	15	15	15	15	10	24	17
+ ST Debt	6	4	9	6	9	9	9	9	9	10	1	1	1	3	20
+ ST Borrowings	6	4	9	6	9	9	9	9	9	9	- -	- -	- -	2	19
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1	1	1	1	1
+ Other ST Liabilities	70	48	38	46	47	42	30	29	23	36	48	47	55	90	85
+ Deferred Revenue	46	33	19	33	36	31	20	19	14	22	32	34	44	59	74
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	24	13	18	13	11	11	10	10	9	15	16	13	11	31	12
Total Current Liabilities	197	147	131	122	123	100	86	86	82	94	96	104	130	219	282
+ LT Debt	- -	9	- -	- -	- -	- -	- -	- -	- -	2	3	2	2	49	71
+ LT Borrowings	- -	9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	46	69
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	3	2	2	3	2
+ Other LT Liabilities	9	16	25	20	18	13	12	12	15	15	15	15	12	12	17
+ Accrued Liabilities	1	13	22	15	16	11	11	11	15	14	14	15	12	11	16
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	8	3	2	5	2	1	1	1	1	- -	- -	- -	- -	- -	- -
Total Noncurrent Liabilities	9	25	25	20	18	13	12	12	15	17	18	18	14	60	88
Total Liabilities	206	172	156	141	141	113	98	99	98	111	114	122	144	279	370
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	792	797	804	808	810	812	814	816	815	814	819	823	830	860	866
+ Common Stock	1	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	792	797	804	807	810	812	814	816	815	814	819	823	830	860	866
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	6	6	6	7
+ Retained Earnings	-612	-636	-651	-693	-717	-747	-748	-746	-731	-731	-621	-599	-589	-579	-577
+ Other Equity	-3	-4	-3	-3	-9	-11	-12	-13	-13	-15	-14	-16	-16	-19	-19
Equity Before Minority Interest	178	158	150	112	84	53	54	58	72	69	183	202	219	256	263
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	178	158	150	112	84	53	54	58	72	69	183	202	219	256	263
Total Liabilities & Equity	384	330	306	253	225	166	153	156	169	180	298	324	363	535	633
Shares Outstanding	10	10	10	10	10	11	11	11	11	11	11	11	12	13	13
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	4	3	3	4	3
Net Debt	-92	-83	-81	-43	-26	-21	-27	-28	-23	-33	-48	-37	-22	-16	28
Net Debt to Equity	-51.89	-52.76	-54.17	-38.25	-30.71	-40.18	-49.06	-49.42	-32.09	-47.49	-26.15	-18.28	-10.17	-6.36	10.6
Tangible Common Equity Ratio	44.9	47.5	48.89	44.11	37.3	32.18	35.62	36.85	42.27	38.2	61.59	62.29	58.62	45.59	36.92
Current Ratio	1.78	2.07	2.09	1.79	1.56	1.4	1.45	1.43	1.53	1.49	1.77	1.98	1.81	1.85	1.64
Cash Conversion Cycle	113.59	109.23	75.01	88.59	81.61	87.62	65.43	46.29	26.73	25.93	39.47	52.46	60.08	86.55	93.73

Cash Flow Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	- -	- -	-17	-51	-25	- -	- -	- -	- -	- -	- -	- -	10	- -	- -
+ Depreciation & Amortization	12	7	7	8	8	7	6	5	4	4	5	4	6	5	8
+ Non-Cash Items	-7	-11	10	11	7	-16	-7	-6	- -	-10	6	30	22	-2	9
+ Stock-Based Compensation	5	5	6	3	2	2	2	2	2	2	3	4	7	7	7
+ Deferred Income Taxes	11	- -	- -	- -	-5	- -	- -	-3	-9	- -	-91	8	9	4	- -
+ Asset Impairment Charge	33	14	10	7	8	10	1	- -	1	1	1	2	2	4	2
+ Other Non-Cash Adj	-55	-30	-6	1	1	-27	-11	-6	6	-13	93	17	5	-17	-1
+ Chg in Non-Cash Work Cap	-5	4	1	3	1	10	2	1	-4	6	-12	-35	-39	-3	-17
+ (Inc) Dec in Accts Receiv	-23	37	-1	13	-3	29	11	1	-11	7	-13	-34	-37	-44	-44
+ (Inc) Dec in Inventories	-17	-8	14	-6	2	-3	6	- -	1	-7	-11	-4	-5	2	-24
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	15	-24	-9	-9	-3	-15	-1	1	2	1	2	10	12	33	45
+ Inc (Dec) in Other	20	-1	-4	5	4	-2	-15	- -	4	5	10	-6	-9	7	7
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	- -	- -	- -	-29	-10	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-8	-6	-10	-9	-4	-2	-4	-7	-5	-5	-3	-2	-5	-3	-13
+ Acq of Fixed Prod Assets	-7	-6	-10	-9	-4	-2	-4	-7	-5	-5	-3	-2	-5	-3	-13
+ Acq of Intangible Assets	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	- -	- -	- -	- -	-2	-2	-1	-5	- -	- -	-1
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	-2	-2	-1	-5	- -	- -	-1
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-8	9	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9	1	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-8	- -	-1	- -
+ Net Cash From Acq & Div	- -	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-16	-32	-18
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	-2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-16	-32	-18
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	- -	- -	3
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-4	-7	-10	-9	-4	-2	-4	-6	-5	-5	-3	-8	-12	-35	-29
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	7	7	-4	-6	6	- -	- -	- -	- -	- -	-9	- -	- -	49	39
+ Cash From Debt	12	8	- -	- -	108	72	66	72	72	84	- -	- -	102	83	170
+ Repayments of Debt	-5	-1	-4	-6	-102	-72	-66	-72	-72	-84	-9	- -	-102	-34	-131
+ Other Financing Activities	-6	-8	- -	3	-3	- -	- -	- -	-1	-1	2	- -	-1	- -	-20
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	1	-1	-4	-3	3	- -	- -	- -	-3	-3	-8	-5	-1	49	19
Effect of Foreign Exchange Rates	1	-2	- -	- -	-4	-2	- -	-1	- -	-1	- -	-1	- -	-2	1
Net Changes in Cash	-3	-9	-14	-41	-10	-1	-4	-6	-8	-7	-11	-13	-13	13	-10
EBITDA	-11	2	10	-32	-13	-18	5	8	7	12	30	33	34	28	22
EBITDA Margin (%)	-2.39	0.41	2.06	-9.23	-4	-6.83	2.25	3.21	2.7	4.95	10.86	11.04	9.82	6.93	5.12
Free Cash Flow	-8	-6	-10	-39	-13	-1	-4	-7	-5	-5	-3	-2	-5	-3	-13
Net Cash Paid for Acquisitions	- -	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	16	32	18
Free Cash Flow to Firm	- -	- -	-25	- -	- -	- -	- -	- -	- -	-5	- -	-2	-5	-1	-11
Free Cash Flow to Equity	4	1	-15	-44	-7	-1	-4	-7	-5	-5	-12	-2	-5	46	26
Free Cash Flow per Basic Share	-0.82	-0.6	-1.04	-3.77	-1.28	-0.12	-0.38	-0.61	-0.49	-0.43	-0.26	-0.16	-0.47	-0.22	-1.02
Price/Free Cash Flow	28.86	28	15.12	-3.97	-13.27	21.11	22.9	14.09	14.67	21.67	134.53	165.16	74.15	133.59	23.78
Cash Flow to Net Income	- -	- -	- -	0.57	0.39	-0.01	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Expenditures	-8	-6	-10	-9	-4	-2	-4	-7	-5	-5	-3	-2	-5	-3	-13