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Side-by-side financial comparison of AeroVironment Inc (AVAV) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
AeroVironment Inc is the larger business by last-quarter revenue ($472.5M vs $249.0M, roughly 1.9× XPLR Infrastructure, LP). XPLR Infrastructure, LP runs the higher net margin — 11.2% vs -3.6%, a 14.9% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs -15.3%). AeroVironment Inc produced more free cash flow last quarter ($-55.9M vs $-88.0M). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs -1.6%).
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...
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
AVAV vs XIFR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $249.0M |
| Net Profit | $-17.1M | $28.0M |
| Gross Margin | 22.0% | — |
| Operating Margin | -6.4% | -19.3% |
| Net Margin | -3.6% | 11.2% |
| Revenue YoY | 181.9% | -15.3% |
| Net Profit YoY | -875.1% | 124.3% |
| EPS (diluted) | $-0.34 | — |
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 | $249.0M | ||
| Q3 25 | $454.7M | $315.0M | ||
| Q2 25 | $275.1M | $342.0M | ||
| Q1 25 | $167.6M | $282.0M | ||
| Q4 24 | $188.5M | $294.0M | ||
| Q3 24 | $189.5M | $319.0M | ||
| Q2 24 | $197.0M | $360.0M | ||
| Q1 24 | $186.6M | $257.0M |
| Q4 25 | $-17.1M | $28.0M | ||
| Q3 25 | $-67.4M | $-37.0M | ||
| Q2 25 | $16.7M | $79.0M | ||
| Q1 25 | $-1.8M | $-98.0M | ||
| Q4 24 | $7.5M | $-115.0M | ||
| Q3 24 | $21.2M | $-40.0M | ||
| Q2 24 | $6.0M | $62.0M | ||
| Q1 24 | $13.9M | $70.0M |
| 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% | -19.3% | ||
| Q3 25 | -15.2% | 1.6% | ||
| Q2 25 | 5.0% | 26.3% | ||
| Q1 25 | -1.8% | -82.6% | ||
| Q4 24 | 3.7% | -188.1% | ||
| Q3 24 | 12.2% | 15.4% | ||
| Q2 24 | 3.0% | 18.3% | ||
| Q1 24 | 7.7% | -8.2% |
| Q4 25 | -3.6% | 11.2% | ||
| Q3 25 | -14.8% | -11.7% | ||
| Q2 25 | 6.1% | 23.1% | ||
| Q1 25 | -1.0% | -34.8% | ||
| Q4 24 | 4.0% | -39.1% | ||
| Q3 24 | 11.2% | -12.5% | ||
| Q2 24 | 3.1% | 17.2% | ||
| Q1 24 | 7.4% | 27.2% |
| Q4 25 | $-0.34 | — | ||
| Q3 25 | $-1.44 | $-0.40 | ||
| Q2 25 | $0.59 | $0.84 | ||
| Q1 25 | $-0.06 | $-1.05 | ||
| Q4 24 | $0.27 | — | ||
| Q3 24 | $0.75 | $-0.43 | ||
| Q2 24 | $0.18 | $0.66 | ||
| Q1 24 | $0.50 | $0.75 |
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 | $960.0M |
| Total DebtLower is stronger | $747.5M | $6.2B |
| Stockholders' EquityBook value | $4.4B | $10.9B |
| Total Assets | $5.6B | $19.6B |
| Debt / EquityLower = less leverage | 0.17× | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | $960.0M | ||
| Q3 25 | $685.8M | $711.0M | ||
| Q2 25 | $40.9M | $880.0M | ||
| Q1 25 | $47.0M | $1.5B | ||
| Q4 24 | $69.0M | $283.0M | ||
| Q3 24 | $81.2M | $290.0M | ||
| Q2 24 | $73.3M | $281.0M | ||
| Q1 24 | $107.7M | $245.0M |
| Q4 25 | $747.5M | $6.2B | ||
| Q3 25 | $747.5M | — | ||
| Q2 25 | $30.0M | — | ||
| Q1 25 | $25.0M | — | ||
| Q4 24 | $15.0M | $5.3B | ||
| Q3 24 | $17.5M | — | ||
| Q2 24 | $28.0M | — | ||
| Q1 24 | $40.0M | — |
| Q4 25 | $4.4B | $10.9B | ||
| Q3 25 | $4.4B | $11.0B | ||
| Q2 25 | $886.5M | $11.3B | ||
| Q1 25 | $861.1M | $12.6B | ||
| Q4 24 | $858.4M | $12.9B | ||
| Q3 24 | $845.5M | $13.6B | ||
| Q2 24 | $822.7M | $13.9B | ||
| Q1 24 | $813.0M | $14.0B |
| Q4 25 | $5.6B | $19.6B | ||
| Q3 25 | $5.6B | $19.1B | ||
| Q2 25 | $1.1B | $20.5B | ||
| Q1 25 | $1.0B | $21.4B | ||
| Q4 24 | $1.0B | $20.3B | ||
| Q3 24 | $999.2M | $20.9B | ||
| Q2 24 | $1.0B | $21.7B | ||
| Q1 24 | $980.3M | $22.3B |
| Q4 25 | 0.17× | 0.57× | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.02× | 0.41× | ||
| 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 | $186.0M |
| Free Cash FlowOCF − Capex | $-55.9M | $-88.0M |
| FCF MarginFCF / Revenue | -11.8% | -35.3% |
| Capex IntensityCapex / Revenue | 2.3% | 110.0% |
| Cash ConversionOCF / Net Profit | — | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | $186.0M | ||
| Q3 25 | $-123.7M | $231.0M | ||
| Q2 25 | $-264.0K | $232.0M | ||
| Q1 25 | $-25.8M | $90.0M | ||
| Q4 24 | $-3.6M | $283.0M | ||
| Q3 24 | $28.4M | $208.0M | ||
| Q2 24 | $-11.7M | $231.0M | ||
| Q1 24 | $52.6M | $78.0M |
| Q4 25 | $-55.9M | $-88.0M | ||
| Q3 25 | $-146.5M | $-283.0M | ||
| Q2 25 | $-8.8M | $151.0M | ||
| Q1 25 | $-29.6M | $1.0M | ||
| Q4 24 | $-8.7M | $231.0M | ||
| Q3 24 | $22.9M | $152.0M | ||
| Q2 24 | $-20.8M | $162.0M | ||
| Q1 24 | $48.8M | $14.0M |
| Q4 25 | -11.8% | -35.3% | ||
| Q3 25 | -32.2% | -89.8% | ||
| Q2 25 | -3.2% | 44.2% | ||
| Q1 25 | -17.7% | 0.4% | ||
| Q4 24 | -4.6% | 78.6% | ||
| Q3 24 | 12.1% | 47.6% | ||
| Q2 24 | -10.5% | 45.0% | ||
| Q1 24 | 26.1% | 5.4% |
| Q4 25 | 2.3% | 110.0% | ||
| Q3 25 | 5.0% | 163.2% | ||
| Q2 25 | 3.1% | 23.7% | ||
| Q1 25 | 2.3% | 31.6% | ||
| Q4 24 | 2.7% | 17.7% | ||
| Q3 24 | 2.9% | 17.6% | ||
| Q2 24 | 4.6% | 19.2% | ||
| Q1 24 | 2.0% | 24.9% |
| Q4 25 | — | 6.64× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.02× | 2.94× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.48× | — | ||
| Q3 24 | 1.34× | — | ||
| Q2 24 | -1.93× | 3.73× | ||
| Q1 24 | 3.79× | 1.11× |
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% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
