vs
Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and BRANDYWINE REALTY TRUST (BDN). Click either name above to swap in a different company.
BRANDYWINE REALTY TRUST is the larger business by last-quarter revenue ($127.0M vs $111.5M, roughly 1.1× AVIAT NETWORKS, INC.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -38.4%, a 43.6% gap on every dollar of revenue. On growth, BRANDYWINE REALTY TRUST posted the faster year-over-year revenue change (4.5% vs -5.7%). Over the past eight quarters, BRANDYWINE REALTY TRUST's revenue compounded faster (0.7% CAGR vs 0.3%).
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
AVNW vs BDN — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $127.0M |
| Net Profit | $5.7M | $-48.8M |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | 1.2% |
| Net Margin | 5.1% | -38.4% |
| Revenue YoY | -5.7% | 4.5% |
| Net Profit YoY | 27.2% | -80.4% |
| EPS (diluted) | $0.44 | $-0.28 |
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.
| Q1 26 | — | $127.0M | ||
| Q4 25 | $111.5M | $121.0M | ||
| Q3 25 | $107.3M | $121.4M | ||
| Q2 25 | $115.3M | $120.6M | ||
| Q1 25 | $112.6M | $121.5M | ||
| Q4 24 | $118.2M | $121.9M | ||
| Q3 24 | $88.4M | $131.8M | ||
| Q2 24 | $116.7M | $125.3M |
| Q1 26 | — | $-48.8M | ||
| Q4 25 | $5.7M | $-36.7M | ||
| Q3 25 | $162.0K | $-25.9M | ||
| Q2 25 | $5.2M | $-88.7M | ||
| Q1 25 | $3.5M | $-27.0M | ||
| Q4 24 | $4.5M | $-44.5M | ||
| Q3 24 | $-11.9M | $-165.2M | ||
| Q2 24 | $1.5M | $30.2M |
| Q1 26 | — | — | ||
| Q4 25 | 32.4% | 61.3% | ||
| Q3 25 | 33.2% | 62.6% | ||
| Q2 25 | 34.2% | 62.4% | ||
| Q1 25 | 34.9% | 60.8% | ||
| Q4 24 | 34.6% | 61.2% | ||
| Q3 24 | 22.4% | 64.9% | ||
| Q2 24 | 35.3% | 63.1% |
| Q1 26 | — | 1.2% | ||
| Q4 25 | 6.5% | 22.8% | ||
| Q3 25 | 4.8% | 20.8% | ||
| Q2 25 | 7.7% | -34.3% | ||
| Q1 25 | 8.3% | 12.5% | ||
| Q4 24 | 6.7% | 18.0% | ||
| Q3 24 | -17.6% | -7.2% | ||
| Q2 24 | 4.7% | 15.5% |
| Q1 26 | — | -38.4% | ||
| Q4 25 | 5.1% | -30.3% | ||
| Q3 25 | 0.2% | -21.3% | ||
| Q2 25 | 4.5% | -73.5% | ||
| Q1 25 | 3.1% | -22.2% | ||
| Q4 24 | 3.8% | -36.5% | ||
| Q3 24 | -13.4% | -125.4% | ||
| Q2 24 | 1.3% | 24.1% |
| Q1 26 | — | $-0.28 | ||
| Q4 25 | $0.44 | $-0.21 | ||
| Q3 25 | $0.01 | $-0.15 | ||
| Q2 25 | $0.42 | $-0.51 | ||
| Q1 25 | $0.27 | $-0.16 | ||
| Q4 24 | $0.35 | $-0.25 | ||
| Q3 24 | $-0.94 | $-0.96 | ||
| Q2 24 | $0.11 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $86.5M | $36.2M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | — |
| Total Assets | $659.4M | $3.6B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $36.2M | ||
| Q4 25 | $86.5M | $32.3M | ||
| Q3 25 | $64.8M | $75.5M | ||
| Q2 25 | $59.7M | $122.6M | ||
| Q1 25 | $49.4M | $29.4M | ||
| Q4 24 | $52.6M | $90.2M | ||
| Q3 24 | $51.0M | $36.5M | ||
| Q2 24 | $64.6M | $30.4M |
| Q1 26 | — | — | ||
| Q4 25 | $105.4M | $2.6B | ||
| Q3 25 | $106.5M | $2.3B | ||
| Q2 25 | $87.6M | $2.3B | ||
| Q1 25 | $73.9M | $2.2B | ||
| Q4 24 | $74.9M | $2.2B | ||
| Q3 24 | $83.4M | $2.3B | ||
| Q2 24 | $48.4M | $2.2B |
| Q1 26 | — | — | ||
| Q4 25 | $271.6M | $792.7M | ||
| Q3 25 | $263.6M | $841.5M | ||
| Q2 25 | $263.2M | $879.8M | ||
| Q1 25 | $256.1M | $993.6M | ||
| Q4 24 | $249.6M | $1.0B | ||
| Q3 24 | $247.1M | $1.1B | ||
| Q2 24 | $255.9M | $1.3B |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $659.4M | $3.6B | ||
| Q3 25 | $643.3M | $3.3B | ||
| Q2 25 | $633.3M | $3.4B | ||
| Q1 25 | $628.3M | $3.4B | ||
| Q4 24 | $594.1M | $3.5B | ||
| Q3 24 | $590.9M | $3.6B | ||
| Q2 24 | $535.2M | $3.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.39× | 3.23× | ||
| Q3 25 | 0.40× | 2.70× | ||
| Q2 25 | 0.33× | 2.63× | ||
| Q1 25 | 0.29× | 2.23× | ||
| Q4 24 | 0.30× | 2.13× | ||
| Q3 24 | 0.34× | 2.06× | ||
| Q2 24 | 0.19× | 1.73× |
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 | $23.9M | — |
| Free Cash FlowOCF − Capex | $22.5M | — |
| FCF MarginFCF / Revenue | 20.2% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $23.9M | $116.7M | ||
| Q3 25 | $-11.7M | $47.5M | ||
| Q2 25 | $10.5M | $34.4M | ||
| Q1 25 | $1.6M | $6.3M | ||
| Q4 24 | $20.8M | $181.1M | ||
| Q3 24 | $-27.2M | $52.2M | ||
| Q2 24 | $8.3M | $48.2M |
| Q1 26 | — | — | ||
| Q4 25 | $22.5M | — | ||
| Q3 25 | $-13.5M | — | ||
| Q2 25 | $8.2M | — | ||
| Q1 25 | $-1.2M | — | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $-32.6M | — | ||
| Q2 24 | $7.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | — | ||
| Q3 25 | -12.6% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | -36.8% | — | ||
| Q2 24 | 6.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 6.1% | — | ||
| Q2 24 | 0.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.37× | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVNW
| Products | $81.2M | 73% |
| Services | $30.3M | 27% |
BDN
| Rents | $120.7M | 95% |
| Third party management fees, labor reimbursement and leasing | $4.7M | 4% |
