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Side-by-side financial comparison of AeroVironment Inc (AVAV) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
AeroVironment Inc is the larger business by last-quarter revenue ($472.5M vs $242.1M, roughly 2.0× ONESPAWORLD HOLDINGS Ltd). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -3.6%, a 8.6% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs 11.5%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $-55.9M). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs 7.1%).
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...
AVAV vs OSW — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $242.1M |
| Net Profit | $-17.1M | $12.1M |
| Gross Margin | 22.0% | — |
| Operating Margin | -6.4% | 6.8% |
| Net Margin | -3.6% | 5.0% |
| Revenue YoY | 181.9% | 11.5% |
| Net Profit YoY | -875.1% | -16.2% |
| EPS (diluted) | $-0.34 | $0.12 |
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 | $242.1M | ||
| Q3 25 | $454.7M | $258.5M | ||
| Q2 25 | $275.1M | $240.7M | ||
| Q1 25 | $167.6M | $219.6M | ||
| Q4 24 | $188.5M | $217.2M | ||
| Q3 24 | $189.5M | $241.7M | ||
| Q2 24 | $197.0M | $224.9M | ||
| Q1 24 | $186.6M | $211.2M |
| Q4 25 | $-17.1M | $12.1M | ||
| Q3 25 | $-67.4M | $24.3M | ||
| Q2 25 | $16.7M | $19.9M | ||
| Q1 25 | $-1.8M | $15.3M | ||
| Q4 24 | $7.5M | $14.4M | ||
| Q3 24 | $21.2M | $21.6M | ||
| Q2 24 | $6.0M | $15.8M | ||
| Q1 24 | $13.9M | $21.2M |
| 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% | 6.8% | ||
| Q3 25 | -15.2% | 10.2% | ||
| Q2 25 | 5.0% | 9.2% | ||
| Q1 25 | -1.8% | 7.7% | ||
| Q4 24 | 3.7% | 7.9% | ||
| Q3 24 | 12.2% | 10.3% | ||
| Q2 24 | 3.0% | 8.4% | ||
| Q1 24 | 7.7% | 8.0% |
| Q4 25 | -3.6% | 5.0% | ||
| Q3 25 | -14.8% | 9.4% | ||
| Q2 25 | 6.1% | 8.3% | ||
| Q1 25 | -1.0% | 7.0% | ||
| Q4 24 | 4.0% | 6.6% | ||
| Q3 24 | 11.2% | 8.9% | ||
| Q2 24 | 3.1% | 7.0% | ||
| Q1 24 | 7.4% | 10.0% |
| Q4 25 | $-0.34 | $0.12 | ||
| Q3 25 | $-1.44 | $0.23 | ||
| Q2 25 | $0.59 | $0.19 | ||
| Q1 25 | $-0.06 | $0.15 | ||
| Q4 24 | $0.27 | $0.13 | ||
| Q3 24 | $0.75 | $0.20 | ||
| Q2 24 | $0.18 | $0.15 | ||
| Q1 24 | $0.50 | $0.21 |
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 | $16.3M |
| Total DebtLower is stronger | $747.5M | $84.0M |
| Stockholders' EquityBook value | $4.4B | $542.6M |
| Total Assets | $5.6B | $707.1M |
| Debt / EquityLower = less leverage | 0.17× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | $16.3M | ||
| Q3 25 | $685.8M | $29.6M | ||
| Q2 25 | $40.9M | $35.0M | ||
| Q1 25 | $47.0M | $22.6M | ||
| Q4 24 | $69.0M | $57.4M | ||
| Q3 24 | $81.2M | $48.8M | ||
| Q2 24 | $73.3M | $62.5M | ||
| Q1 24 | $107.7M | $65.4M |
| Q4 25 | $747.5M | $84.0M | ||
| Q3 25 | $747.5M | $85.2M | ||
| Q2 25 | $30.0M | $96.2M | ||
| Q1 25 | $25.0M | $97.4M | ||
| Q4 24 | $15.0M | $98.6M | ||
| Q3 24 | $17.5M | $98.7M | ||
| Q2 24 | $28.0M | $123.8M | ||
| Q1 24 | $40.0M | $138.6M |
| Q4 25 | $4.4B | $542.6M | ||
| Q3 25 | $4.4B | $552.8M | ||
| Q2 25 | $886.5M | $548.3M | ||
| Q1 25 | $861.1M | $530.6M | ||
| Q4 24 | $858.4M | $554.5M | ||
| Q3 24 | $845.5M | $540.1M | ||
| Q2 24 | $822.7M | $532.7M | ||
| Q1 24 | $813.0M | $515.5M |
| Q4 25 | $5.6B | $707.1M | ||
| Q3 25 | $5.6B | $732.6M | ||
| Q2 25 | $1.1B | $731.8M | ||
| Q1 25 | $1.0B | $708.7M | ||
| Q4 24 | $1.0B | $746.4M | ||
| Q3 24 | $999.2M | $734.0M | ||
| Q2 24 | $1.0B | $756.8M | ||
| Q1 24 | $980.3M | $763.6M |
| Q4 25 | 0.17× | 0.15× | ||
| Q3 25 | 0.17× | 0.15× | ||
| Q2 25 | 0.03× | 0.18× | ||
| Q1 25 | 0.03× | 0.18× | ||
| Q4 24 | 0.02× | 0.18× | ||
| Q3 24 | 0.02× | 0.18× | ||
| Q2 24 | 0.03× | 0.23× | ||
| Q1 24 | 0.05× | 0.27× |
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 | $20.0M |
| Free Cash FlowOCF − Capex | $-55.9M | $14.9M |
| FCF MarginFCF / Revenue | -11.8% | 6.2% |
| Capex IntensityCapex / Revenue | 2.3% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | $20.0M | ||
| Q3 25 | $-123.7M | $33.2M | ||
| Q2 25 | $-264.0K | $20.3M | ||
| Q1 25 | $-25.8M | $10.1M | ||
| Q4 24 | $-3.6M | $16.6M | ||
| Q3 24 | $28.4M | $28.6M | ||
| Q2 24 | $-11.7M | $18.7M | ||
| Q1 24 | $52.6M | $15.0M |
| Q4 25 | $-55.9M | $14.9M | ||
| Q3 25 | $-146.5M | $27.6M | ||
| Q2 25 | $-8.8M | $17.6M | ||
| Q1 25 | $-29.6M | $8.4M | ||
| Q4 24 | $-8.7M | $13.2M | ||
| Q3 24 | $22.9M | $27.5M | ||
| Q2 24 | $-20.8M | $17.6M | ||
| Q1 24 | $48.8M | $13.7M |
| Q4 25 | -11.8% | 6.2% | ||
| Q3 25 | -32.2% | 10.7% | ||
| Q2 25 | -3.2% | 7.3% | ||
| Q1 25 | -17.7% | 3.8% | ||
| Q4 24 | -4.6% | 6.1% | ||
| Q3 24 | 12.1% | 11.4% | ||
| Q2 24 | -10.5% | 7.8% | ||
| Q1 24 | 26.1% | 6.5% |
| Q4 25 | 2.3% | 2.1% | ||
| Q3 25 | 5.0% | 2.2% | ||
| Q2 25 | 3.1% | 1.1% | ||
| Q1 25 | 2.3% | 0.8% | ||
| Q4 24 | 2.7% | 1.5% | ||
| Q3 24 | 2.9% | 0.5% | ||
| Q2 24 | 4.6% | 0.5% | ||
| Q1 24 | 2.0% | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | -0.02× | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | -0.48× | 1.15× | ||
| Q3 24 | 1.34× | 1.33× | ||
| Q2 24 | -1.93× | 1.19× | ||
| Q1 24 | 3.79× | 0.71× |
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% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
