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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and SAUL CENTERS, INC. (BFS). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $75.1M, roughly 1.5× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs 5.1%, a 3.5% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs -5.7%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% 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.
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
AVNW vs BFS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $75.1M |
| Net Profit | $5.7M | $6.5M |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | 65.4% |
| Net Margin | 5.1% | 8.7% |
| Revenue YoY | -5.7% | 10.6% |
| Net Profit YoY | 27.2% | -19.6% |
| EPS (diluted) | $0.44 | $0.15 |
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 | $111.5M | $75.1M | ||
| Q3 25 | $107.3M | $72.0M | ||
| Q2 25 | $115.3M | $70.8M | ||
| Q1 25 | $112.6M | $71.9M | ||
| Q4 24 | $118.2M | $67.9M | ||
| Q3 24 | $88.4M | $67.3M | ||
| Q2 24 | $116.7M | $66.9M | ||
| Q1 24 | $110.8M | $66.7M |
| Q4 25 | $5.7M | $6.5M | ||
| Q3 25 | $162.0K | $10.5M | ||
| Q2 25 | $5.2M | $10.7M | ||
| Q1 25 | $3.5M | $9.8M | ||
| Q4 24 | $4.5M | $8.1M | ||
| Q3 24 | $-11.9M | $14.5M | ||
| Q2 24 | $1.5M | $14.4M | ||
| Q1 24 | $3.9M | $13.6M |
| Q4 25 | 32.4% | — | ||
| Q3 25 | 33.2% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 34.9% | — | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 22.4% | 73.6% | ||
| Q2 24 | 35.3% | 74.2% | ||
| Q1 24 | 32.5% | 72.8% |
| Q4 25 | 6.5% | 65.4% | ||
| Q3 25 | 4.8% | 69.1% | ||
| Q2 25 | 7.7% | 68.7% | ||
| Q1 25 | 8.3% | 66.5% | ||
| Q4 24 | 6.7% | 82.9% | ||
| Q3 24 | -17.6% | 72.8% | ||
| Q2 24 | 4.7% | 75.0% | ||
| Q1 24 | 5.1% | 72.4% |
| Q4 25 | 5.1% | 8.7% | ||
| Q3 25 | 0.2% | 14.6% | ||
| Q2 25 | 4.5% | 15.1% | ||
| Q1 25 | 3.1% | 13.6% | ||
| Q4 24 | 3.8% | 11.9% | ||
| Q3 24 | -13.4% | 21.5% | ||
| Q2 24 | 1.3% | 21.6% | ||
| Q1 24 | 3.5% | 20.4% |
| Q4 25 | $0.44 | $0.15 | ||
| Q3 25 | $0.01 | $0.32 | ||
| Q2 25 | $0.42 | $0.33 | ||
| Q1 25 | $0.27 | $0.29 | ||
| Q4 24 | $0.35 | $0.22 | ||
| Q3 24 | $-0.94 | $0.48 | ||
| Q2 24 | $0.11 | $0.48 | ||
| Q1 24 | $0.30 | $0.45 |
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 | $8.7M |
| Total DebtLower is stronger | $105.4M | $468.4M |
| Stockholders' EquityBook value | $271.6M | $307.8M |
| Total Assets | $659.4M | $2.2B |
| Debt / EquityLower = less leverage | 0.39× | 1.52× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $8.7M | ||
| Q3 25 | $64.8M | $11.8M | ||
| Q2 25 | $59.7M | $5.3M | ||
| Q1 25 | $49.4M | $6.5M | ||
| Q4 24 | $52.6M | $10.3M | ||
| Q3 24 | $51.0M | $7.2M | ||
| Q2 24 | $64.6M | $6.9M | ||
| Q1 24 | $59.2M | $7.1M |
| Q4 25 | $105.4M | $468.4M | ||
| Q3 25 | $106.5M | $1.6B | ||
| Q2 25 | $87.6M | $1.6B | ||
| Q1 25 | $73.9M | $1.5B | ||
| Q4 24 | $74.9M | $455.8M | ||
| Q3 24 | $83.4M | $1.5B | ||
| Q2 24 | $48.4M | $1.4B | ||
| Q1 24 | $48.9M | $1.4B |
| Q4 25 | $271.6M | $307.8M | ||
| Q3 25 | $263.6M | $316.6M | ||
| Q2 25 | $263.2M | $322.4M | ||
| Q1 25 | $256.1M | $328.4M | ||
| Q4 24 | $249.6M | $335.8M | ||
| Q3 24 | $247.1M | $341.8M | ||
| Q2 24 | $255.9M | $345.7M | ||
| Q1 24 | $256.0M | $347.1M |
| Q4 25 | $659.4M | $2.2B | ||
| Q3 25 | $643.3M | $2.2B | ||
| Q2 25 | $633.3M | $2.1B | ||
| Q1 25 | $628.3M | $2.1B | ||
| Q4 24 | $594.1M | $2.1B | ||
| Q3 24 | $590.9M | $2.1B | ||
| Q2 24 | $535.2M | $2.1B | ||
| Q1 24 | $490.3M | $2.0B |
| Q4 25 | 0.39× | 1.52× | ||
| Q3 25 | 0.40× | 5.02× | ||
| Q2 25 | 0.33× | 4.85× | ||
| Q1 25 | 0.29× | 4.70× | ||
| Q4 24 | 0.30× | 1.36× | ||
| Q3 24 | 0.34× | 4.37× | ||
| Q2 24 | 0.19× | 4.17× | ||
| Q1 24 | 0.19× | 4.06× |
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 | $99.8M |
| Free Cash FlowOCF − Capex | $22.5M | — |
| FCF MarginFCF / Revenue | 20.2% | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | 4.18× | 15.35× |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $99.8M | ||
| Q3 25 | $-11.7M | $20.6M | ||
| Q2 25 | $10.5M | $26.6M | ||
| Q1 25 | $1.6M | $30.4M | ||
| Q4 24 | $20.8M | $121.2M | ||
| Q3 24 | $-27.2M | $26.5M | ||
| Q2 24 | $8.3M | $32.1M | ||
| Q1 24 | $15.3M | $33.8M |
| Q4 25 | $22.5M | — | ||
| Q3 25 | $-13.5M | — | ||
| Q2 25 | $8.2M | — | ||
| Q1 25 | $-1.2M | — | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $-32.6M | $-28.3M | ||
| Q2 24 | $7.5M | $-12.5M | ||
| Q1 24 | $14.8M | $-11.7M |
| Q4 25 | 20.2% | — | ||
| Q3 25 | -12.6% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | -36.8% | -42.1% | ||
| Q2 24 | 6.4% | -18.7% | ||
| Q1 24 | 13.4% | -17.6% |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 6.1% | 81.5% | ||
| Q2 24 | 0.7% | 66.7% | ||
| Q1 24 | 0.4% | 68.3% |
| Q4 25 | 4.18× | 15.35× | ||
| Q3 25 | -72.48× | 1.97× | ||
| Q2 25 | 2.02× | 2.48× | ||
| Q1 25 | 0.46× | 3.10× | ||
| Q4 24 | 4.62× | 14.98× | ||
| Q3 24 | — | 1.83× | ||
| Q2 24 | 5.37× | 2.22× | ||
| Q1 24 | 3.96× | 2.48× |
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% |
BFS
Segment breakdown not available.
