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Side-by-side financial comparison of AeroVironment Inc (AVAV) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
AeroVironment Inc is the larger business by last-quarter revenue ($472.5M vs $326.2M, roughly 1.4× New Fortress Energy Inc.). AeroVironment Inc runs the higher net margin — -3.6% vs -259.7%, a 256.0% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs -7.0%). AeroVironment Inc produced more free cash flow last quarter ($-55.9M vs $-134.8M). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs -26.8%).
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...
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
AVAV vs NFE — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $326.2M |
| Net Profit | $-17.1M | $-847.1M |
| Gross Margin | 22.0% | 35.5% |
| Operating Margin | -6.4% | -193.0% |
| Net Margin | -3.6% | -259.7% |
| Revenue YoY | 181.9% | -7.0% |
| Net Profit YoY | -875.1% | -277.4% |
| EPS (diluted) | $-0.34 | $-3.03 |
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 | $326.2M | ||
| Q3 25 | $454.7M | $240.3M | ||
| Q2 25 | $275.1M | $228.1M | ||
| Q1 25 | $167.6M | $384.9M | ||
| Q4 24 | $188.5M | $350.7M | ||
| Q3 24 | $189.5M | $446.0M | ||
| Q2 24 | $197.0M | $291.2M | ||
| Q1 24 | $186.6M | $609.5M |
| Q4 25 | $-17.1M | $-847.1M | ||
| Q3 25 | $-67.4M | $-263.0M | ||
| Q2 25 | $16.7M | $-546.5M | ||
| Q1 25 | $-1.8M | $-175.4M | ||
| Q4 24 | $7.5M | $-224.4M | ||
| Q3 24 | $21.2M | $9.3M | ||
| Q2 24 | $6.0M | $-88.9M | ||
| Q1 24 | $13.9M | $54.1M |
| Q4 25 | 22.0% | 35.5% | ||
| Q3 25 | 20.9% | 18.1% | ||
| Q2 25 | 36.5% | 8.4% | ||
| Q1 25 | 37.7% | 21.4% | ||
| Q4 24 | 39.1% | 17.6% | ||
| Q3 24 | 43.0% | 27.1% | ||
| Q2 24 | 38.4% | 23.8% | ||
| Q1 24 | 36.1% | 62.4% |
| Q4 25 | -6.4% | -193.0% | ||
| Q3 25 | -15.2% | -37.4% | ||
| Q2 25 | 5.0% | -170.3% | ||
| Q1 25 | -1.8% | -3.3% | ||
| Q4 24 | 3.7% | 65.0% | ||
| Q3 24 | 12.2% | 17.8% | ||
| Q2 24 | 3.0% | 12.3% | ||
| Q1 24 | 7.7% | 30.4% |
| Q4 25 | -3.6% | -259.7% | ||
| Q3 25 | -14.8% | -109.4% | ||
| Q2 25 | 6.1% | -239.6% | ||
| Q1 25 | -1.0% | -45.6% | ||
| Q4 24 | 4.0% | -64.0% | ||
| Q3 24 | 11.2% | 2.1% | ||
| Q2 24 | 3.1% | -30.5% | ||
| Q1 24 | 7.4% | 8.9% |
| Q4 25 | $-0.34 | $-3.03 | ||
| Q3 25 | $-1.44 | $-0.96 | ||
| Q2 25 | $0.59 | $-1.99 | ||
| Q1 25 | $-0.06 | $-0.65 | ||
| Q4 24 | $0.27 | $-1.10 | ||
| Q3 24 | $0.75 | $0.03 | ||
| Q2 24 | $0.18 | $-0.42 | ||
| Q1 24 | $0.50 | $0.23 |
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 | $226.5M |
| Total DebtLower is stronger | $747.5M | $8.2B |
| Stockholders' EquityBook value | $4.4B | $182.6M |
| Total Assets | $5.6B | $10.6B |
| Debt / EquityLower = less leverage | 0.17× | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | $226.5M | ||
| Q3 25 | $685.8M | $145.2M | ||
| Q2 25 | $40.9M | $551.1M | ||
| Q1 25 | $47.0M | $447.9M | ||
| Q4 24 | $69.0M | $492.9M | ||
| Q3 24 | $81.2M | $90.8M | ||
| Q2 24 | $73.3M | $133.0M | ||
| Q1 24 | $107.7M | $143.5M |
| Q4 25 | $747.5M | $8.2B | ||
| Q3 25 | $747.5M | — | ||
| Q2 25 | $30.0M | — | ||
| Q1 25 | $25.0M | — | ||
| Q4 24 | $15.0M | $8.9B | ||
| Q3 24 | $17.5M | — | ||
| Q2 24 | $28.0M | — | ||
| Q1 24 | $40.0M | — |
| Q4 25 | $4.4B | $182.6M | ||
| Q3 25 | $4.4B | $1.1B | ||
| Q2 25 | $886.5M | $1.3B | ||
| Q1 25 | $861.1M | $1.8B | ||
| Q4 24 | $858.4M | $1.9B | ||
| Q3 24 | $845.5M | $1.6B | ||
| Q2 24 | $822.7M | $1.6B | ||
| Q1 24 | $813.0M | $1.7B |
| Q4 25 | $5.6B | $10.6B | ||
| Q3 25 | $5.6B | $12.0B | ||
| Q2 25 | $1.1B | $12.0B | ||
| Q1 25 | $1.0B | $13.1B | ||
| Q4 24 | $1.0B | $12.9B | ||
| Q3 24 | $999.2M | $12.0B | ||
| Q2 24 | $1.0B | $11.4B | ||
| Q1 24 | $980.3M | $10.9B |
| Q4 25 | 0.17× | 44.78× | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.02× | 4.74× | ||
| 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 | $-76.2M |
| Free Cash FlowOCF − Capex | $-55.9M | $-134.8M |
| FCF MarginFCF / Revenue | -11.8% | -41.3% |
| Capex IntensityCapex / Revenue | 2.3% | 18.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | $-76.2M | ||
| Q3 25 | $-123.7M | $-171.0M | ||
| Q2 25 | $-264.0K | $-329.0M | ||
| Q1 25 | $-25.8M | $-7.2M | ||
| Q4 24 | $-3.6M | $445.3M | ||
| Q3 24 | $28.4M | $-20.0M | ||
| Q2 24 | $-11.7M | $113.9M | ||
| Q1 24 | $52.6M | $63.0M |
| Q4 25 | $-55.9M | $-134.8M | ||
| Q3 25 | $-146.5M | $-231.6M | ||
| Q2 25 | $-8.8M | $-726.7M | ||
| Q1 25 | $-29.6M | $-262.3M | ||
| Q4 24 | $-8.7M | $-210.3M | ||
| Q3 24 | $22.9M | $-367.0M | ||
| Q2 24 | $-20.8M | $-493.2M | ||
| Q1 24 | $48.8M | $-457.9M |
| Q4 25 | -11.8% | -41.3% | ||
| Q3 25 | -32.2% | -96.4% | ||
| Q2 25 | -3.2% | -318.6% | ||
| Q1 25 | -17.7% | -68.2% | ||
| Q4 24 | -4.6% | -60.0% | ||
| Q3 24 | 12.1% | -82.3% | ||
| Q2 24 | -10.5% | -169.3% | ||
| Q1 24 | 26.1% | -75.1% |
| Q4 25 | 2.3% | 18.0% | ||
| Q3 25 | 5.0% | 25.2% | ||
| Q2 25 | 3.1% | 174.4% | ||
| Q1 25 | 2.3% | 66.3% | ||
| Q4 24 | 2.7% | 187.0% | ||
| Q3 24 | 2.9% | 77.8% | ||
| Q2 24 | 4.6% | 208.4% | ||
| Q1 24 | 2.0% | 85.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.02× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.48× | — | ||
| Q3 24 | 1.34× | -2.15× | ||
| Q2 24 | -1.93× | — | ||
| Q1 24 | 3.79× | 1.16× |
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% |
NFE
Segment breakdown not available.
