vs
Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and CERAGON NETWORKS LTD (CRNT). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $170.9K, roughly 652.2× CERAGON NETWORKS LTD). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -1.3%, a 6.4% gap on every dollar of revenue. AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $5.9K).
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.
Ceragon Networks Ltd. is a telecommunications equipment company that manufactures point-to-point and point-to-multipoint wireless connectivity systems. The company's products are primarily used for wireless backhaul by mobile network operators, wireless service providers, and private network operators. Ceragon’s systems support transmission across microwave and millimeter wave frequency bands.
AVNW vs CRNT — Head-to-Head
Income Statement — Q2 2026 vs Q2 2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $170.9K |
| Net Profit | $5.7M | $-2.2K |
| Gross Margin | 32.4% | 33.7% |
| Operating Margin | 6.5% | 0.7% |
| Net Margin | 5.1% | -1.3% |
| Revenue YoY | -5.7% | — |
| Net Profit YoY | 27.2% | — |
| EPS (diluted) | $0.44 | — |
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 | — | ||
| Q3 25 | $107.3M | — | ||
| Q2 25 | $115.3M | $170.9K | ||
| Q1 25 | $112.6M | — | ||
| Q4 24 | $118.2M | — | ||
| Q3 24 | $88.4M | — | ||
| Q2 24 | $116.7M | $100.0K | ||
| Q1 24 | $110.8M | — |
| Q4 25 | $5.7M | — | ||
| Q3 25 | $162.0K | — | ||
| Q2 25 | $5.2M | $-2.2K | ||
| Q1 25 | $3.5M | — | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $-11.9M | — | ||
| Q2 24 | $1.5M | $4.5K | ||
| Q1 24 | $3.9M | — |
| Q4 25 | 32.4% | — | ||
| Q3 25 | 33.2% | — | ||
| Q2 25 | 34.2% | 33.7% | ||
| Q1 25 | 34.9% | — | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 22.4% | — | ||
| Q2 24 | 35.3% | 35.5% | ||
| Q1 24 | 32.5% | — |
| Q4 25 | 6.5% | — | ||
| Q3 25 | 4.8% | — | ||
| Q2 25 | 7.7% | 0.7% | ||
| Q1 25 | 8.3% | — | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | -17.6% | — | ||
| Q2 24 | 4.7% | 7.9% | ||
| Q1 24 | 5.1% | — |
| Q4 25 | 5.1% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 4.5% | -1.3% | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | -13.4% | — | ||
| Q2 24 | 1.3% | 4.5% | ||
| Q1 24 | 3.5% | — |
| Q4 25 | $0.44 | — | ||
| Q3 25 | $0.01 | — | ||
| Q2 25 | $0.42 | — | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.35 | — | ||
| Q3 24 | $-0.94 | — | ||
| Q2 24 | $0.11 | — | ||
| Q1 24 | $0.30 | — |
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 | $29.2M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $171.8M |
| Total Assets | $659.4M | $328.4M |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | — | ||
| Q3 25 | $64.8M | — | ||
| Q2 25 | $59.7M | $29.2M | ||
| Q1 25 | $49.4M | — | ||
| Q4 24 | $52.6M | — | ||
| Q3 24 | $51.0M | — | ||
| Q2 24 | $64.6M | $26.3M | ||
| Q1 24 | $59.2M | — |
| Q4 25 | $105.4M | — | ||
| Q3 25 | $106.5M | — | ||
| Q2 25 | $87.6M | — | ||
| Q1 25 | $73.9M | — | ||
| Q4 24 | $74.9M | — | ||
| Q3 24 | $83.4M | — | ||
| Q2 24 | $48.4M | — | ||
| Q1 24 | $48.9M | — |
| Q4 25 | $271.6M | — | ||
| Q3 25 | $263.6M | — | ||
| Q2 25 | $263.2M | $171.8M | ||
| Q1 25 | $256.1M | — | ||
| Q4 24 | $249.6M | — | ||
| Q3 24 | $247.1M | — | ||
| Q2 24 | $255.9M | $143.5M | ||
| Q1 24 | $256.0M | — |
| Q4 25 | $659.4M | — | ||
| Q3 25 | $643.3M | — | ||
| Q2 25 | $633.3M | $328.4M | ||
| Q1 25 | $628.3M | — | ||
| Q4 24 | $594.1M | — | ||
| Q3 24 | $590.9M | — | ||
| Q2 24 | $535.2M | $299.0M | ||
| Q1 24 | $490.3M | — |
| Q4 25 | 0.39× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.19× | — |
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 | $13.4K |
| Free Cash FlowOCF − Capex | $22.5M | $5.9K |
| FCF MarginFCF / Revenue | 20.2% | 3.5% |
| Capex IntensityCapex / Revenue | 1.3% | 4.3% |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | — | ||
| Q3 25 | $-11.7M | — | ||
| Q2 25 | $10.5M | $13.4K | ||
| Q1 25 | $1.6M | — | ||
| Q4 24 | $20.8M | — | ||
| Q3 24 | $-27.2M | — | ||
| Q2 24 | $8.3M | — | ||
| Q1 24 | $15.3M | — |
| Q4 25 | $22.5M | — | ||
| Q3 25 | $-13.5M | — | ||
| Q2 25 | $8.2M | $5.9K | ||
| Q1 25 | $-1.2M | — | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $-32.6M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $14.8M | — |
| Q4 25 | 20.2% | — | ||
| Q3 25 | -12.6% | — | ||
| Q2 25 | 7.1% | 3.5% | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | -36.8% | — | ||
| Q2 24 | 6.4% | — | ||
| Q1 24 | 13.4% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 2.0% | 4.3% | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 6.1% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.4% | — |
| 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× | — | ||
| Q1 24 | 3.96× | — |
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% |
CRNT
Segment breakdown not available.
