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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and STONERIDGE INC (SRI). Click either name above to swap in a different company.
STONERIDGE INC is the larger business by last-quarter revenue ($205.2M vs $111.5M, roughly 1.8× AVIAT NETWORKS, INC.). On growth, AVIAT NETWORKS, INC. posted the faster year-over-year revenue change (-5.7% vs -6.0%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $2.6M). Over the past eight quarters, AVIAT NETWORKS, INC.'s revenue compounded faster (0.3% CAGR vs -7.4%).
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.
Stoneridge Inc is a global designer and manufacturer of advanced electrical and electronic components, integrated systems, and sensor solutions. It serves automotive, commercial vehicle, off-highway, and aerospace sectors, delivering products that boost vehicle safety, efficiency, connectivity, and environmental performance across key global markets.
AVNW vs SRI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $205.2M |
| Net Profit | $5.7M | — |
| Gross Margin | 32.4% | 16.2% |
| Operating Margin | 6.5% | -14.4% |
| Net Margin | 5.1% | — |
| Revenue YoY | -5.7% | -6.0% |
| Net Profit YoY | 27.2% | — |
| EPS (diluted) | $0.44 | $-2.76 |
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 | $205.2M | ||
| Q3 25 | $107.3M | $210.3M | ||
| Q2 25 | $115.3M | $228.0M | ||
| Q1 25 | $112.6M | $217.9M | ||
| Q4 24 | $118.2M | $218.2M | ||
| Q3 24 | $88.4M | $213.8M | ||
| Q2 24 | $116.7M | $237.1M | ||
| Q1 24 | $110.8M | $239.2M |
| Q4 25 | $5.7M | — | ||
| Q3 25 | $162.0K | $-9.4M | ||
| Q2 25 | $5.2M | $-9.4M | ||
| Q1 25 | $3.5M | $-7.2M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $-11.9M | $-7.1M | ||
| Q2 24 | $1.5M | $2.8M | ||
| Q1 24 | $3.9M | $-6.1M |
| Q4 25 | 32.4% | 16.2% | ||
| Q3 25 | 33.2% | 20.3% | ||
| Q2 25 | 34.2% | 21.5% | ||
| Q1 25 | 34.9% | 21.2% | ||
| Q4 24 | 34.6% | 19.5% | ||
| Q3 24 | 22.4% | 20.8% | ||
| Q2 24 | 35.3% | 22.7% | ||
| Q1 24 | 32.5% | 20.2% |
| Q4 25 | 6.5% | -14.4% | ||
| Q3 25 | 4.8% | -1.6% | ||
| Q2 25 | 7.7% | -1.1% | ||
| Q1 25 | 8.3% | -1.5% | ||
| Q4 24 | 6.7% | -2.0% | ||
| Q3 24 | -17.6% | 0.1% | ||
| Q2 24 | 4.7% | 1.4% | ||
| Q1 24 | 5.1% | 0.1% |
| Q4 25 | 5.1% | — | ||
| Q3 25 | 0.2% | -4.5% | ||
| Q2 25 | 4.5% | -4.1% | ||
| Q1 25 | 3.1% | -3.3% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | -13.4% | -3.3% | ||
| Q2 24 | 1.3% | 1.2% | ||
| Q1 24 | 3.5% | -2.6% |
| Q4 25 | $0.44 | $-2.76 | ||
| Q3 25 | $0.01 | $-0.34 | ||
| Q2 25 | $0.42 | $-0.34 | ||
| Q1 25 | $0.27 | $-0.26 | ||
| Q4 24 | $0.35 | $-0.22 | ||
| Q3 24 | $-0.94 | $-0.26 | ||
| Q2 24 | $0.11 | $0.10 | ||
| Q1 24 | $0.30 | $-0.22 |
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 | $66.3M |
| Total DebtLower is stronger | $105.4M | $180.9M |
| Stockholders' EquityBook value | $271.6M | $179.8M |
| Total Assets | $659.4M | $551.2M |
| Debt / EquityLower = less leverage | 0.39× | 1.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $66.3M | ||
| Q3 25 | $64.8M | $54.0M | ||
| Q2 25 | $59.7M | $49.8M | ||
| Q1 25 | $49.4M | $79.1M | ||
| Q4 24 | $52.6M | $71.8M | ||
| Q3 24 | $51.0M | $54.1M | ||
| Q2 24 | $64.6M | $42.1M | ||
| Q1 24 | $59.2M | $48.4M |
| Q4 25 | $105.4M | $180.9M | ||
| Q3 25 | $106.5M | — | ||
| Q2 25 | $87.6M | — | ||
| Q1 25 | $73.9M | — | ||
| Q4 24 | $74.9M | $201.6M | ||
| Q3 24 | $83.4M | — | ||
| Q2 24 | $48.4M | — | ||
| Q1 24 | $48.9M | — |
| Q4 25 | $271.6M | $179.8M | ||
| Q3 25 | $263.6M | $251.2M | ||
| Q2 25 | $263.2M | $260.5M | ||
| Q1 25 | $256.1M | $253.1M | ||
| Q4 24 | $249.6M | $245.3M | ||
| Q3 24 | $247.1M | $271.4M | ||
| Q2 24 | $255.9M | $270.5M | ||
| Q1 24 | $256.0M | $277.3M |
| Q4 25 | $659.4M | $551.2M | ||
| Q3 25 | $643.3M | $632.1M | ||
| Q2 25 | $633.3M | $639.4M | ||
| Q1 25 | $628.3M | $657.4M | ||
| Q4 24 | $594.1M | $621.6M | ||
| Q3 24 | $590.9M | $662.5M | ||
| Q2 24 | $535.2M | $666.7M | ||
| Q1 24 | $490.3M | $675.4M |
| Q4 25 | 0.39× | 1.01× | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.30× | 0.82× | ||
| 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 | $8.8M |
| Free Cash FlowOCF − Capex | $22.5M | $2.6M |
| FCF MarginFCF / Revenue | 20.2% | 1.3% |
| Capex IntensityCapex / Revenue | 1.3% | 3.0% |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $12.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $8.8M | ||
| Q3 25 | $-11.7M | $3.6M | ||
| Q2 25 | $10.5M | $10.7M | ||
| Q1 25 | $1.6M | $10.9M | ||
| Q4 24 | $20.8M | $19.2M | ||
| Q3 24 | $-27.2M | $10.8M | ||
| Q2 24 | $8.3M | $8.7M | ||
| Q1 24 | $15.3M | $9.1M |
| Q4 25 | $22.5M | $2.6M | ||
| Q3 25 | $-13.5M | $-2.7M | ||
| Q2 25 | $8.2M | $7.4M | ||
| Q1 25 | $-1.2M | $4.8M | ||
| Q4 24 | $18.3M | $14.0M | ||
| Q3 24 | $-32.6M | $4.6M | ||
| Q2 24 | $7.5M | $1.5M | ||
| Q1 24 | $14.8M | $3.3M |
| Q4 25 | 20.2% | 1.3% | ||
| Q3 25 | -12.6% | -1.3% | ||
| Q2 25 | 7.1% | 3.3% | ||
| Q1 25 | -1.0% | 2.2% | ||
| Q4 24 | 15.5% | 6.4% | ||
| Q3 24 | -36.8% | 2.2% | ||
| Q2 24 | 6.4% | 0.6% | ||
| Q1 24 | 13.4% | 1.4% |
| Q4 25 | 1.3% | 3.0% | ||
| Q3 25 | 1.6% | 3.0% | ||
| Q2 25 | 2.0% | 1.4% | ||
| Q1 25 | 2.5% | 2.8% | ||
| Q4 24 | 2.1% | 2.4% | ||
| Q3 24 | 6.1% | 2.9% | ||
| Q2 24 | 0.7% | 3.0% | ||
| Q1 24 | 0.4% | 2.4% |
| 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× | 3.11× | ||
| 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% |
SRI
| Control Devices | $51.7M | 25% |
| Electronics | $38.0M | 19% |
| EE | $34.2M | 17% |
| SE | $28.6M | 14% |
| NL | $24.5M | 12% |
| Stoneridge Brazil | $14.1M | 7% |
| Asia Pacific | $13.1M | 6% |
