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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and STURM RUGER & CO INC (RGR). Click either name above to swap in a different company.
STURM RUGER & CO INC is the larger business by last-quarter revenue ($151.1M vs $111.5M, roughly 1.4× AVIAT NETWORKS, INC.). On growth, STURM RUGER & CO INC posted the faster year-over-year revenue change (3.6% vs -5.7%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $12.3M). Over the past eight quarters, STURM RUGER & CO INC's revenue compounded faster (5.1% 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.
Sturm, Ruger & Company, Inc., better known by the shortened name Ruger, is an American firearm manufacturing company based in Southport, Connecticut, with production facilities also in Newport, New Hampshire; Mayodan, North Carolina; and Prescott, Arizona. The company was founded in 1949 by Alexander McCormick Sturm and William B. Ruger and has been publicly traded since 1969.
AVNW vs RGR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $151.1M |
| Net Profit | $5.7M | — |
| Gross Margin | 32.4% | 17.8% |
| Operating Margin | 6.5% | 2.3% |
| Net Margin | 5.1% | — |
| Revenue YoY | -5.7% | 3.6% |
| Net Profit YoY | 27.2% | — |
| EPS (diluted) | $0.44 | $0.22 |
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 | $151.1M | ||
| Q3 25 | $107.3M | $126.8M | ||
| Q2 25 | $115.3M | $132.5M | ||
| Q1 25 | $112.6M | $135.7M | ||
| Q4 24 | $118.2M | $145.8M | ||
| Q3 24 | $88.4M | $122.3M | ||
| Q2 24 | $116.7M | $130.8M | ||
| Q1 24 | $110.8M | $136.8M |
| Q4 25 | $5.7M | — | ||
| Q3 25 | $162.0K | $1.6M | ||
| Q2 25 | $5.2M | $-17.2M | ||
| Q1 25 | $3.5M | $7.8M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $-11.9M | $4.7M | ||
| Q2 24 | $1.5M | $8.3M | ||
| Q1 24 | $3.9M | $7.1M |
| Q4 25 | 32.4% | 17.8% | ||
| Q3 25 | 33.2% | 15.1% | ||
| Q2 25 | 34.2% | 3.9% | ||
| Q1 25 | 34.9% | 22.0% | ||
| Q4 24 | 34.6% | 22.8% | ||
| Q3 24 | 22.4% | 18.5% | ||
| Q2 24 | 35.3% | 22.3% | ||
| Q1 24 | 32.5% | 21.5% |
| Q4 25 | 6.5% | 2.3% | ||
| Q3 25 | 4.8% | -2.7% | ||
| Q2 25 | 7.7% | -15.6% | ||
| Q1 25 | 8.3% | 6.2% | ||
| Q4 24 | 6.7% | 7.8% | ||
| Q3 24 | -17.6% | 3.1% | ||
| Q2 24 | 4.7% | 6.9% | ||
| Q1 24 | 5.1% | 5.5% |
| Q4 25 | 5.1% | — | ||
| Q3 25 | 0.2% | 1.2% | ||
| Q2 25 | 4.5% | -13.0% | ||
| Q1 25 | 3.1% | 5.7% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | -13.4% | 3.9% | ||
| Q2 24 | 1.3% | 6.3% | ||
| Q1 24 | 3.5% | 5.2% |
| Q4 25 | $0.44 | $0.22 | ||
| Q3 25 | $0.01 | $0.10 | ||
| Q2 25 | $0.42 | $-1.05 | ||
| Q1 25 | $0.27 | $0.46 | ||
| Q4 24 | $0.35 | $0.62 | ||
| Q3 24 | $-0.94 | $0.28 | ||
| Q2 24 | $0.11 | $0.47 | ||
| Q1 24 | $0.30 | $0.40 |
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 | $92.5M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $283.8M |
| Total Assets | $659.4M | $342.0M |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $92.5M | ||
| Q3 25 | $64.8M | $80.8M | ||
| Q2 25 | $59.7M | $101.4M | ||
| Q1 25 | $49.4M | $108.3M | ||
| Q4 24 | $52.6M | $105.5M | ||
| Q3 24 | $51.0M | $96.0M | ||
| Q2 24 | $64.6M | $105.6M | ||
| Q1 24 | $59.2M | $115.3M |
| 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 | $283.8M | ||
| Q3 25 | $263.6M | $279.6M | ||
| Q2 25 | $263.2M | $289.3M | ||
| Q1 25 | $256.1M | $321.5M | ||
| Q4 24 | $249.6M | $319.6M | ||
| Q3 24 | $247.1M | $314.9M | ||
| Q2 24 | $255.9M | $321.5M | ||
| Q1 24 | $256.0M | $332.0M |
| Q4 25 | $659.4M | $342.0M | ||
| Q3 25 | $643.3M | $342.3M | ||
| Q2 25 | $633.3M | $349.5M | ||
| Q1 25 | $628.3M | $379.0M | ||
| Q4 24 | $594.1M | $384.0M | ||
| Q3 24 | $590.9M | $373.5M | ||
| Q2 24 | $535.2M | $376.7M | ||
| Q1 24 | $490.3M | $385.0M |
| 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 | $15.5M |
| Free Cash FlowOCF − Capex | $22.5M | $12.3M |
| FCF MarginFCF / Revenue | 20.2% | 8.2% |
| Capex IntensityCapex / Revenue | 1.3% | 2.1% |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $38.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $15.5M | ||
| Q3 25 | $-11.7M | $12.9M | ||
| Q2 25 | $10.5M | $14.7M | ||
| Q1 25 | $1.6M | $11.1M | ||
| Q4 24 | $20.8M | $20.0M | ||
| Q3 24 | $-27.2M | $9.4M | ||
| Q2 24 | $8.3M | $18.7M | ||
| Q1 24 | $15.3M | $7.3M |
| Q4 25 | $22.5M | $12.3M | ||
| Q3 25 | $-13.5M | $7.0M | ||
| Q2 25 | $8.2M | $9.1M | ||
| Q1 25 | $-1.2M | $10.0M | ||
| Q4 24 | $18.3M | $16.4M | ||
| Q3 24 | $-32.6M | $2.6M | ||
| Q2 24 | $7.5M | $10.1M | ||
| Q1 24 | $14.8M | $5.6M |
| Q4 25 | 20.2% | 8.2% | ||
| Q3 25 | -12.6% | 5.5% | ||
| Q2 25 | 7.1% | 6.9% | ||
| Q1 25 | -1.0% | 7.4% | ||
| Q4 24 | 15.5% | 11.2% | ||
| Q3 24 | -36.8% | 2.1% | ||
| Q2 24 | 6.4% | 7.7% | ||
| Q1 24 | 13.4% | 4.1% |
| Q4 25 | 1.3% | 2.1% | ||
| Q3 25 | 1.6% | 4.6% | ||
| Q2 25 | 2.0% | 4.2% | ||
| Q1 25 | 2.5% | 0.8% | ||
| Q4 24 | 2.1% | 2.5% | ||
| Q3 24 | 6.1% | 5.5% | ||
| Q2 24 | 0.7% | 6.6% | ||
| Q1 24 | 0.4% | 1.3% |
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | 8.15× | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | 1.43× | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | 1.98× | ||
| Q2 24 | 5.37× | 2.27× | ||
| Q1 24 | 3.96× | 1.04× |
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% |
RGR
| Firearms | $150.6M | 100% |
| Castings | $7.3M | 5% |
