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Side-by-side financial comparison of AeroVironment Inc (AVAV) and ESCO TECHNOLOGIES INC (ESE). Click either name above to swap in a different company.
AeroVironment Inc is the larger business by last-quarter revenue ($472.5M vs $289.7M, roughly 1.6× ESCO TECHNOLOGIES INC). ESCO TECHNOLOGIES INC runs the higher net margin — 9.9% vs -3.6%, a 13.5% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs 17.3%). ESCO TECHNOLOGIES INC produced more free cash flow last quarter ($63.0M vs $-55.9M). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs 7.8%).
AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo i...
Esco is a Singaporean brand that develops, manufactures, and sells products and services for laboratories.
AVAV vs ESE — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $289.7M |
| Net Profit | $-17.1M | $28.7M |
| Gross Margin | 22.0% | 41.4% |
| Operating Margin | -6.4% | 13.2% |
| Net Margin | -3.6% | 9.9% |
| Revenue YoY | 181.9% | 17.3% |
| Net Profit YoY | -875.1% | 22.2% |
| EPS (diluted) | $-0.34 | $1.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $472.5M | $289.7M | ||
| Q3 25 | $454.7M | $286.5M | ||
| Q2 25 | $275.1M | $296.3M | ||
| Q1 25 | $167.6M | $265.5M | ||
| Q4 24 | $188.5M | $247.0M | ||
| Q3 24 | $189.5M | $298.5M | ||
| Q2 24 | $197.0M | $260.8M | ||
| Q1 24 | $186.6M | $249.1M |
| Q4 25 | $-17.1M | $28.7M | ||
| Q3 25 | $-67.4M | $218.7M | ||
| Q2 25 | $16.7M | $26.1M | ||
| Q1 25 | $-1.8M | $31.0M | ||
| Q4 24 | $7.5M | $23.5M | ||
| Q3 24 | $21.2M | $34.3M | ||
| Q2 24 | $6.0M | $29.2M | ||
| Q1 24 | $13.9M | $23.2M |
| Q4 25 | 22.0% | 41.4% | ||
| Q3 25 | 20.9% | 45.9% | ||
| Q2 25 | 36.5% | 41.2% | ||
| Q1 25 | 37.7% | 41.1% | ||
| Q4 24 | 39.1% | 39.8% | ||
| Q3 24 | 43.0% | 40.1% | ||
| Q2 24 | 38.4% | 39.6% | ||
| Q1 24 | 36.1% | 38.8% |
| Q4 25 | -6.4% | 13.2% | ||
| Q3 25 | -15.2% | 17.2% | ||
| Q2 25 | 5.0% | 11.2% | ||
| Q1 25 | -1.8% | 15.3% | ||
| Q4 24 | 3.7% | 11.4% | ||
| Q3 24 | 12.2% | 14.8% | ||
| Q2 24 | 3.0% | 14.3% | ||
| Q1 24 | 7.7% | 11.7% |
| Q4 25 | -3.6% | 9.9% | ||
| Q3 25 | -14.8% | 76.3% | ||
| Q2 25 | 6.1% | 8.8% | ||
| Q1 25 | -1.0% | 11.7% | ||
| Q4 24 | 4.0% | 9.5% | ||
| Q3 24 | 11.2% | 11.5% | ||
| Q2 24 | 3.1% | 11.2% | ||
| Q1 24 | 7.4% | 9.3% |
| Q4 25 | $-0.34 | $1.11 | ||
| Q3 25 | $-1.44 | $8.43 | ||
| Q2 25 | $0.59 | $1.01 | ||
| Q1 25 | $-0.06 | $1.20 | ||
| Q4 24 | $0.27 | $0.91 | ||
| Q3 24 | $0.75 | $1.32 | ||
| Q2 24 | $0.18 | $1.13 | ||
| Q1 24 | $0.50 | $0.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $588.5M | $103.8M |
| Total DebtLower is stronger | $747.5M | $145.5M |
| Stockholders' EquityBook value | $4.4B | $1.6B |
| Total Assets | $5.6B | $2.4B |
| Debt / EquityLower = less leverage | 0.17× | 0.09× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | $103.8M | ||
| Q3 25 | $685.8M | $101.3M | ||
| Q2 25 | $40.9M | $78.7M | ||
| Q1 25 | $47.0M | $57.4M | ||
| Q4 24 | $69.0M | $71.3M | ||
| Q3 24 | $81.2M | $66.0M | ||
| Q2 24 | $73.3M | $63.0M | ||
| Q1 24 | $107.7M | $59.4M |
| Q4 25 | $747.5M | $145.5M | ||
| Q3 25 | $747.5M | $186.0M | ||
| Q2 25 | $30.0M | $525.0M | ||
| Q1 25 | $25.0M | $88.0M | ||
| Q4 24 | $15.0M | $112.0M | ||
| Q3 24 | $17.5M | $122.0M | ||
| Q2 24 | $28.0M | $173.0M | ||
| Q1 24 | $40.0M | $191.0M |
| Q4 25 | $4.4B | $1.6B | ||
| Q3 25 | $4.4B | $1.5B | ||
| Q2 25 | $886.5M | $1.3B | ||
| Q1 25 | $861.1M | $1.3B | ||
| Q4 24 | $858.4M | $1.2B | ||
| Q3 24 | $845.5M | $1.2B | ||
| Q2 24 | $822.7M | $1.2B | ||
| Q1 24 | $813.0M | $1.2B |
| Q4 25 | $5.6B | $2.4B | ||
| Q3 25 | $5.6B | $2.4B | ||
| Q2 25 | $1.1B | $2.5B | ||
| Q1 25 | $1.0B | $1.8B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $999.2M | $1.8B | ||
| Q2 24 | $1.0B | $1.8B | ||
| Q1 24 | $980.3M | $1.8B |
| Q4 25 | 0.17× | 0.09× | ||
| Q3 25 | 0.17× | 0.12× | ||
| Q2 25 | 0.03× | 0.40× | ||
| Q1 25 | 0.03× | 0.07× | ||
| Q4 24 | 0.02× | 0.09× | ||
| Q3 24 | 0.02× | 0.10× | ||
| Q2 24 | 0.03× | 0.14× | ||
| Q1 24 | 0.05× | 0.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-45.1M | $68.9M |
| Free Cash FlowOCF − Capex | $-55.9M | $63.0M |
| FCF MarginFCF / Revenue | -11.8% | 21.7% |
| Capex IntensityCapex / Revenue | 2.3% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 2.40× |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | $239.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | $68.9M | ||
| Q3 25 | $-123.7M | $109.9M | ||
| Q2 25 | $-264.0K | $73.7M | ||
| Q1 25 | $-25.8M | $24.1M | ||
| Q4 24 | $-3.6M | $34.2M | ||
| Q3 24 | $28.4M | $72.1M | ||
| Q2 24 | $-11.7M | $36.2M | ||
| Q1 24 | $52.6M | $10.5M |
| Q4 25 | $-55.9M | $63.0M | ||
| Q3 25 | $-146.5M | $97.8M | ||
| Q2 25 | $-8.8M | $64.9M | ||
| Q1 25 | $-29.6M | $14.0M | ||
| Q4 24 | $-8.7M | $29.0M | ||
| Q3 24 | $22.9M | $60.9M | ||
| Q2 24 | $-20.8M | $27.6M | ||
| Q1 24 | $48.8M | $2.0M |
| Q4 25 | -11.8% | 21.7% | ||
| Q3 25 | -32.2% | 34.1% | ||
| Q2 25 | -3.2% | 21.9% | ||
| Q1 25 | -17.7% | 5.3% | ||
| Q4 24 | -4.6% | 11.7% | ||
| Q3 24 | 12.1% | 20.4% | ||
| Q2 24 | -10.5% | 10.6% | ||
| Q1 24 | 26.1% | 0.8% |
| Q4 25 | 2.3% | 2.0% | ||
| Q3 25 | 5.0% | 4.2% | ||
| Q2 25 | 3.1% | 3.0% | ||
| Q1 25 | 2.3% | 3.8% | ||
| Q4 24 | 2.7% | 2.1% | ||
| Q3 24 | 2.9% | 3.8% | ||
| Q2 24 | 4.6% | 3.3% | ||
| Q1 24 | 2.0% | 3.4% |
| Q4 25 | — | 2.40× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | -0.02× | 2.83× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | -0.48× | 1.46× | ||
| Q3 24 | 1.34× | 2.10× | ||
| Q2 24 | -1.93× | 1.24× | ||
| Q1 24 | 3.79× | 0.45× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
ESE
| US Government | $98.0M | 34% |
| Utility Solutions Group | $87.5M | 30% |
| RF Shielding And Test | $58.3M | 20% |
| Commercial | $45.8M | 16% |
| Related Party | $1.3M | 0% |
