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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and Broadstone Net Lease, Inc. (BNL). Click either name above to swap in a different company.
Broadstone Net Lease, Inc. is the larger business by last-quarter revenue ($121.4M vs $111.5M, roughly 1.1× AVIAT NETWORKS, INC.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs 5.1%, a 33.1% gap on every dollar of revenue. On growth, Broadstone Net Lease, Inc. posted the faster year-over-year revenue change (11.7% vs -5.7%). Over the past eight quarters, Broadstone Net Lease, Inc.'s revenue compounded faster (7.1% 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.
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
AVNW vs BNL — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $121.4M |
| Net Profit | $5.7M | $46.4M |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | 52.2% |
| Net Margin | 5.1% | 38.2% |
| Revenue YoY | -5.7% | 11.7% |
| Net Profit YoY | 27.2% | — |
| EPS (diluted) | $0.44 | $0.24 |
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 | — | $121.4M | ||
| Q4 25 | $111.5M | $118.3M | ||
| Q3 25 | $107.3M | $114.2M | ||
| Q2 25 | $115.3M | $113.0M | ||
| Q1 25 | $112.6M | $108.7M | ||
| Q4 24 | $118.2M | $112.1M | ||
| Q3 24 | $88.4M | $108.4M | ||
| Q2 24 | $116.7M | $105.9M |
| Q1 26 | — | $46.4M | ||
| Q4 25 | $5.7M | $33.1M | ||
| Q3 25 | $162.0K | $26.5M | ||
| Q2 25 | $5.2M | $20.2M | ||
| Q1 25 | $3.5M | $16.7M | ||
| Q4 24 | $4.5M | $26.4M | ||
| Q3 24 | $-11.9M | $35.6M | ||
| Q2 24 | $1.5M | $35.3M |
| Q1 26 | — | — | ||
| Q4 25 | 32.4% | — | ||
| Q3 25 | 33.2% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 34.9% | — | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 22.4% | — | ||
| Q2 24 | 35.3% | — |
| Q1 26 | — | 52.2% | ||
| Q4 25 | 6.5% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 8.3% | — | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | -17.6% | — | ||
| Q2 24 | 4.7% | — |
| Q1 26 | — | 38.2% | ||
| Q4 25 | 5.1% | 28.0% | ||
| Q3 25 | 0.2% | 23.2% | ||
| Q2 25 | 4.5% | 17.8% | ||
| Q1 25 | 3.1% | 15.4% | ||
| Q4 24 | 3.8% | 23.5% | ||
| Q3 24 | -13.4% | 32.8% | ||
| Q2 24 | 1.3% | 33.4% |
| Q1 26 | — | $0.24 | ||
| Q4 25 | $0.44 | $0.17 | ||
| Q3 25 | $0.01 | $0.14 | ||
| Q2 25 | $0.42 | $0.10 | ||
| Q1 25 | $0.27 | $0.09 | ||
| Q4 24 | $0.35 | $0.13 | ||
| Q3 24 | $-0.94 | $0.19 | ||
| Q2 24 | $0.11 | $0.19 |
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 | $20.3M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $3.0B |
| Total Assets | $659.4M | $5.8B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $20.3M | ||
| Q4 25 | $86.5M | $30.5M | ||
| Q3 25 | $64.8M | $82.0M | ||
| Q2 25 | $59.7M | $20.8M | ||
| Q1 25 | $49.4M | $9.6M | ||
| Q4 24 | $52.6M | $14.8M | ||
| Q3 24 | $51.0M | $9.0M | ||
| Q2 24 | $64.6M | $18.3M |
| Q1 26 | — | — | ||
| Q4 25 | $105.4M | $2.5B | ||
| Q3 25 | $106.5M | $2.4B | ||
| Q2 25 | $87.6M | $2.1B | ||
| Q1 25 | $73.9M | $2.0B | ||
| Q4 24 | $74.9M | $1.9B | ||
| Q3 24 | $83.4M | $2.0B | ||
| Q2 24 | $48.4M | $1.9B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $271.6M | $2.9B | ||
| Q3 25 | $263.6M | $2.9B | ||
| Q2 25 | $263.2M | $2.9B | ||
| Q1 25 | $256.1M | $2.9B | ||
| Q4 24 | $249.6M | $3.0B | ||
| Q3 24 | $247.1M | $3.0B | ||
| Q2 24 | $255.9M | $3.1B |
| Q1 26 | — | $5.8B | ||
| Q4 25 | $659.4M | $5.7B | ||
| Q3 25 | $643.3M | $5.5B | ||
| Q2 25 | $633.3M | $5.3B | ||
| Q1 25 | $628.3M | $5.2B | ||
| Q4 24 | $594.1M | $5.2B | ||
| Q3 24 | $590.9M | $5.3B | ||
| Q2 24 | $535.2M | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.39× | 0.87× | ||
| Q3 25 | 0.40× | 0.82× | ||
| Q2 25 | 0.33× | 0.73× | ||
| Q1 25 | 0.29× | 0.68× | ||
| Q4 24 | 0.30× | 0.64× | ||
| Q3 24 | 0.34× | 0.65× | ||
| Q2 24 | 0.19× | 0.62× |
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 | $299.5M | ||
| Q3 25 | $-11.7M | $64.2M | ||
| Q2 25 | $10.5M | $79.3M | ||
| Q1 25 | $1.6M | $71.5M | ||
| Q4 24 | $20.8M | $276.3M | ||
| Q3 24 | $-27.2M | $67.3M | ||
| Q2 24 | $8.3M | $74.2M |
| Q1 26 | — | — | ||
| Q4 25 | $22.5M | $269.8M | ||
| Q3 25 | $-13.5M | $58.0M | ||
| Q2 25 | $8.2M | $76.7M | ||
| Q1 25 | $-1.2M | $57.1M | ||
| Q4 24 | $18.3M | $259.5M | ||
| Q3 24 | $-32.6M | $60.3M | ||
| Q2 24 | $7.5M | $74.0M |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 228.1% | ||
| Q3 25 | -12.6% | 50.8% | ||
| Q2 25 | 7.1% | 67.9% | ||
| Q1 25 | -1.0% | 52.5% | ||
| Q4 24 | 15.5% | 231.4% | ||
| Q3 24 | -36.8% | 55.6% | ||
| Q2 24 | 6.4% | 69.9% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 25.1% | ||
| Q3 25 | 1.6% | 5.4% | ||
| Q2 25 | 2.0% | 2.3% | ||
| Q1 25 | 2.5% | 13.2% | ||
| Q4 24 | 2.1% | 15.0% | ||
| Q3 24 | 6.1% | 6.5% | ||
| Q2 24 | 0.7% | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.18× | 9.04× | ||
| Q3 25 | -72.48× | 2.43× | ||
| Q2 25 | 2.02× | 3.93× | ||
| Q1 25 | 0.46× | 4.27× | ||
| Q4 24 | 4.62× | 10.47× | ||
| Q3 24 | — | 1.89× | ||
| Q2 24 | 5.37× | 2.10× |
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% |
BNL
Segment breakdown not available.
