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Side-by-side financial comparison of AeroVironment Inc (AVAV) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $472.5M, roughly 1.7× AeroVironment Inc). MSCI Inc. runs the higher net margin — 34.6% vs -3.6%, a 38.2% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs 10.6%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $-55.9M). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs 10.0%).
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...
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.
AVAV vs MSCI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $822.5M |
| Net Profit | $-17.1M | $284.7M |
| Gross Margin | 22.0% | — |
| Operating Margin | -6.4% | 56.4% |
| Net Margin | -3.6% | 34.6% |
| Revenue YoY | 181.9% | 10.6% |
| Net Profit YoY | -875.1% | -6.8% |
| EPS (diluted) | $-0.34 | $3.81 |
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 | $822.5M | ||
| Q3 25 | $454.7M | $793.4M | ||
| Q2 25 | $275.1M | $772.7M | ||
| Q1 25 | $167.6M | $745.8M | ||
| Q4 24 | $188.5M | $743.5M | ||
| Q3 24 | $189.5M | $724.7M | ||
| Q2 24 | $197.0M | $707.9M | ||
| Q1 24 | $186.6M | $680.0M |
| Q4 25 | $-17.1M | $284.7M | ||
| Q3 25 | $-67.4M | $325.4M | ||
| Q2 25 | $16.7M | $303.6M | ||
| Q1 25 | $-1.8M | $288.6M | ||
| Q4 24 | $7.5M | $305.5M | ||
| Q3 24 | $21.2M | $280.9M | ||
| Q2 24 | $6.0M | $266.8M | ||
| Q1 24 | $13.9M | $256.0M |
| Q4 25 | 22.0% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 37.7% | — | ||
| Q4 24 | 39.1% | — | ||
| Q3 24 | 43.0% | — | ||
| Q2 24 | 38.4% | — | ||
| Q1 24 | 36.1% | — |
| Q4 25 | -6.4% | 56.4% | ||
| Q3 25 | -15.2% | 56.4% | ||
| Q2 25 | 5.0% | 55.0% | ||
| Q1 25 | -1.8% | 50.6% | ||
| Q4 24 | 3.7% | 54.5% | ||
| Q3 24 | 12.2% | 55.4% | ||
| Q2 24 | 3.0% | 54.0% | ||
| Q1 24 | 7.7% | 49.9% |
| Q4 25 | -3.6% | 34.6% | ||
| Q3 25 | -14.8% | 41.0% | ||
| Q2 25 | 6.1% | 39.3% | ||
| Q1 25 | -1.0% | 38.7% | ||
| Q4 24 | 4.0% | 41.1% | ||
| Q3 24 | 11.2% | 38.8% | ||
| Q2 24 | 3.1% | 37.7% | ||
| Q1 24 | 7.4% | 37.6% |
| Q4 25 | $-0.34 | $3.81 | ||
| Q3 25 | $-1.44 | $4.25 | ||
| Q2 25 | $0.59 | $3.92 | ||
| Q1 25 | $-0.06 | $3.71 | ||
| Q4 24 | $0.27 | $3.89 | ||
| Q3 24 | $0.75 | $3.57 | ||
| Q2 24 | $0.18 | $3.37 | ||
| Q1 24 | $0.50 | $3.22 |
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 | $515.3M |
| Total DebtLower is stronger | $747.5M | $6.2B |
| Stockholders' EquityBook value | $4.4B | $-2.7B |
| Total Assets | $5.6B | $5.7B |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | $515.3M | ||
| Q3 25 | $685.8M | $400.1M | ||
| Q2 25 | $40.9M | $347.3M | ||
| Q1 25 | $47.0M | $360.7M | ||
| Q4 24 | $69.0M | $409.4M | ||
| Q3 24 | $81.2M | $501.0M | ||
| Q2 24 | $73.3M | $451.4M | ||
| Q1 24 | $107.7M | $519.3M |
| Q4 25 | $747.5M | $6.2B | ||
| Q3 25 | $747.5M | $5.5B | ||
| Q2 25 | $30.0M | $4.5B | ||
| Q1 25 | $25.0M | $4.5B | ||
| Q4 24 | $15.0M | $4.5B | ||
| Q3 24 | $17.5M | $4.5B | ||
| Q2 24 | $28.0M | $4.5B | ||
| Q1 24 | $40.0M | $4.5B |
| Q4 25 | $4.4B | $-2.7B | ||
| Q3 25 | $4.4B | $-1.9B | ||
| Q2 25 | $886.5M | $-886.2M | ||
| Q1 25 | $861.1M | $-958.6M | ||
| Q4 24 | $858.4M | $-940.0M | ||
| Q3 24 | $845.5M | $-751.0M | ||
| Q2 24 | $822.7M | $-734.5M | ||
| Q1 24 | $813.0M | $-650.5M |
| Q4 25 | $5.6B | $5.7B | ||
| Q3 25 | $5.6B | $5.4B | ||
| Q2 25 | $1.1B | $5.4B | ||
| Q1 25 | $1.0B | $5.3B | ||
| Q4 24 | $1.0B | $5.4B | ||
| Q3 24 | $999.2M | $5.4B | ||
| Q2 24 | $1.0B | $5.5B | ||
| Q1 24 | $980.3M | $5.5B |
| Q4 25 | 0.17× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.02× | — | ||
| Q3 24 | 0.02× | — | ||
| Q2 24 | 0.03× | — | ||
| Q1 24 | 0.05× | — |
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 | $501.1M |
| Free Cash FlowOCF − Capex | $-55.9M | $488.7M |
| FCF MarginFCF / Revenue | -11.8% | 59.4% |
| Capex IntensityCapex / Revenue | 2.3% | 1.5% |
| Cash ConversionOCF / Net Profit | — | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | $501.1M | ||
| Q3 25 | $-123.7M | $449.4M | ||
| Q2 25 | $-264.0K | $336.1M | ||
| Q1 25 | $-25.8M | $301.7M | ||
| Q4 24 | $-3.6M | $430.6M | ||
| Q3 24 | $28.4M | $421.6M | ||
| Q2 24 | $-11.7M | $349.2M | ||
| Q1 24 | $52.6M | $300.1M |
| Q4 25 | $-55.9M | $488.7M | ||
| Q3 25 | $-146.5M | $445.5M | ||
| Q2 25 | $-8.8M | $324.7M | ||
| Q1 25 | $-29.6M | $290.2M | ||
| Q4 24 | $-8.7M | $416.4M | ||
| Q3 24 | $22.9M | $415.0M | ||
| Q2 24 | $-20.8M | $340.6M | ||
| Q1 24 | $48.8M | $295.9M |
| Q4 25 | -11.8% | 59.4% | ||
| Q3 25 | -32.2% | 56.2% | ||
| Q2 25 | -3.2% | 42.0% | ||
| Q1 25 | -17.7% | 38.9% | ||
| Q4 24 | -4.6% | 56.0% | ||
| Q3 24 | 12.1% | 57.3% | ||
| Q2 24 | -10.5% | 48.1% | ||
| Q1 24 | 26.1% | 43.5% |
| Q4 25 | 2.3% | 1.5% | ||
| Q3 25 | 5.0% | 0.5% | ||
| Q2 25 | 3.1% | 1.5% | ||
| Q1 25 | 2.3% | 1.5% | ||
| Q4 24 | 2.7% | 1.9% | ||
| Q3 24 | 2.9% | 0.9% | ||
| Q2 24 | 4.6% | 1.2% | ||
| Q1 24 | 2.0% | 0.6% |
| Q4 25 | — | 1.76× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | -0.02× | 1.11× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | -0.48× | 1.41× | ||
| Q3 24 | 1.34× | 1.50× | ||
| Q2 24 | -1.93× | 1.31× | ||
| Q1 24 | 3.79× | 1.17× |
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% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
