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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT). Click either name above to swap in a different company.
ESSENTIAL PROPERTIES REALTY TRUST, INC. is the larger business by last-quarter revenue ($158.8M vs $111.5M, roughly 1.4× AVIAT NETWORKS, INC.). ESSENTIAL PROPERTIES REALTY TRUST, INC. runs the higher net margin — 37.8% vs 5.1%, a 32.6% gap on every dollar of revenue. On growth, ESSENTIAL PROPERTIES REALTY TRUST, INC. posted the faster year-over-year revenue change (22.8% vs -5.7%). Over the past eight quarters, ESSENTIAL PROPERTIES REALTY TRUST, INC.'s revenue compounded faster (20.6% 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.
Essential Properties Realty Trust is a publicly traded real estate investment trust (REIT) that acquires, owns and manages a diversified portfolio of single-tenant net-leased commercial properties across the United States. Its assets primarily cover essential service-oriented sectors including casual dining, automotive services, medical clinics, early childhood education centers and light industrial facilities, with tenants mostly holding robust long-term operating track records.
AVNW vs EPRT — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $158.8M |
| Net Profit | $5.7M | $60.0M |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | 56.5% |
| Net Margin | 5.1% | 37.8% |
| Revenue YoY | -5.7% | 22.8% |
| Net Profit YoY | 27.2% | 6.5% |
| 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 | — | $158.8M | ||
| Q4 25 | $111.5M | $149.9M | ||
| Q3 25 | $107.3M | $144.9M | ||
| Q2 25 | $115.3M | $137.1M | ||
| Q1 25 | $112.6M | $129.4M | ||
| Q4 24 | $118.2M | $119.7M | ||
| Q3 24 | $88.4M | $117.1M | ||
| Q2 24 | $116.7M | $109.3M |
| Q1 26 | — | $60.0M | ||
| Q4 25 | $5.7M | $68.1M | ||
| Q3 25 | $162.0K | $65.6M | ||
| Q2 25 | $5.2M | $63.2M | ||
| Q1 25 | $3.5M | $56.1M | ||
| Q4 24 | $4.5M | $55.4M | ||
| Q3 24 | $-11.9M | $49.1M | ||
| Q2 24 | $1.5M | $51.5M |
| 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 | — | 56.5% | ||
| Q4 25 | 6.5% | 65.9% | ||
| Q3 25 | 4.8% | 64.7% | ||
| Q2 25 | 7.7% | 64.1% | ||
| Q1 25 | 8.3% | 61.6% | ||
| Q4 24 | 6.7% | 66.1% | ||
| Q3 24 | -17.6% | 59.7% | ||
| Q2 24 | 4.7% | 61.1% |
| Q1 26 | — | 37.8% | ||
| Q4 25 | 5.1% | 45.4% | ||
| Q3 25 | 0.2% | 45.3% | ||
| Q2 25 | 4.5% | 46.1% | ||
| Q1 25 | 3.1% | 43.4% | ||
| Q4 24 | 3.8% | 46.3% | ||
| Q3 24 | -13.4% | 42.0% | ||
| Q2 24 | 1.3% | 47.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | $0.44 | $0.34 | ||
| Q3 25 | $0.01 | $0.33 | ||
| Q2 25 | $0.42 | $0.32 | ||
| Q1 25 | $0.27 | $0.29 | ||
| Q4 24 | $0.35 | $0.31 | ||
| Q3 24 | $-0.94 | $0.27 | ||
| Q2 24 | $0.11 | $0.29 |
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 | $15.2M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $4.4B |
| Total Assets | $659.4M | $7.2B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $15.2M | ||
| Q4 25 | $86.5M | $60.2M | ||
| Q3 25 | $64.8M | $23.8M | ||
| Q2 25 | $59.7M | $20.8M | ||
| Q1 25 | $49.4M | $47.0M | ||
| Q4 24 | $52.6M | $40.7M | ||
| Q3 24 | $51.0M | $32.7M | ||
| Q2 24 | $64.6M | $23.6M |
| Q1 26 | — | — | ||
| Q4 25 | $105.4M | $2.5B | ||
| Q3 25 | $106.5M | $2.6B | ||
| Q2 25 | $87.6M | $2.3B | ||
| Q1 25 | $73.9M | $2.1B | ||
| Q4 24 | $74.9M | $2.1B | ||
| Q3 24 | $83.4M | $2.2B | ||
| Q2 24 | $48.4M | $1.9B |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $271.6M | $4.2B | ||
| Q3 25 | $263.6M | $3.8B | ||
| Q2 25 | $263.2M | $3.8B | ||
| Q1 25 | $256.1M | $3.8B | ||
| Q4 24 | $249.6M | $3.6B | ||
| Q3 24 | $247.1M | $3.2B | ||
| Q2 24 | $255.9M | $3.2B |
| Q1 26 | — | $7.2B | ||
| Q4 25 | $659.4M | $6.9B | ||
| Q3 25 | $643.3M | $6.6B | ||
| Q2 25 | $633.3M | $6.3B | ||
| Q1 25 | $628.3M | $6.1B | ||
| Q4 24 | $594.1M | $5.8B | ||
| Q3 24 | $590.9M | $5.5B | ||
| Q2 24 | $535.2M | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.39× | 0.60× | ||
| Q3 25 | 0.40× | 0.69× | ||
| Q2 25 | 0.33× | 0.61× | ||
| Q1 25 | 0.29× | 0.56× | ||
| Q4 24 | 0.30× | 0.60× | ||
| Q3 24 | 0.34× | 0.69× | ||
| Q2 24 | 0.19× | 0.59× |
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 | $381.1M | ||
| Q3 25 | $-11.7M | $99.0M | ||
| Q2 25 | $10.5M | $99.8M | ||
| Q1 25 | $1.6M | $77.2M | ||
| Q4 24 | $20.8M | $308.5M | ||
| Q3 24 | $-27.2M | $73.5M | ||
| Q2 24 | $8.3M | $81.1M |
| 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× | 5.60× | ||
| Q3 25 | -72.48× | 1.51× | ||
| Q2 25 | 2.02× | 1.58× | ||
| Q1 25 | 0.46× | 1.38× | ||
| Q4 24 | 4.62× | 5.57× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | 5.37× | 1.57× |
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% |
EPRT
| Rental revenue 1,2 | $149.4M | 94% |
| Other | $8.6M | 5% |
| Other revenue | $779.0K | 0% |
