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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $100.0M, roughly 1.1× Latham Group, Inc.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -7.0%, a 12.1% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -5.7%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $14.1M). Over the past eight quarters, AVIAT NETWORKS, INC.'s revenue compounded faster (0.3% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
AVNW vs SWIM — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $100.0M |
| Net Profit | $5.7M | $-7.0M |
| Gross Margin | 32.4% | 28.0% |
| Operating Margin | 6.5% | -10.7% |
| Net Margin | 5.1% | -7.0% |
| Revenue YoY | -5.7% | 14.5% |
| Net Profit YoY | 27.2% | 76.0% |
| EPS (diluted) | $0.44 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $107.3M | $161.9M | ||
| Q2 25 | $115.3M | $172.6M | ||
| Q1 25 | $112.6M | $111.4M | ||
| Q4 24 | $118.2M | $87.3M | ||
| Q3 24 | $88.4M | $150.5M | ||
| Q2 24 | $116.7M | $160.1M | ||
| Q1 24 | $110.8M | $110.6M |
| Q4 25 | $5.7M | $-7.0M | ||
| Q3 25 | $162.0K | $8.1M | ||
| Q2 25 | $5.2M | $16.0M | ||
| Q1 25 | $3.5M | $-6.0M | ||
| Q4 24 | $4.5M | $-29.2M | ||
| Q3 24 | $-11.9M | $5.9M | ||
| Q2 24 | $1.5M | $13.3M | ||
| Q1 24 | $3.9M | $-7.9M |
| Q4 25 | 32.4% | 28.0% | ||
| Q3 25 | 33.2% | 35.4% | ||
| Q2 25 | 34.2% | 37.1% | ||
| Q1 25 | 34.9% | 29.5% | ||
| Q4 24 | 34.6% | 24.6% | ||
| Q3 24 | 22.4% | 32.4% | ||
| Q2 24 | 35.3% | 33.1% | ||
| Q1 24 | 32.5% | 27.7% |
| Q4 25 | 6.5% | -10.7% | ||
| Q3 25 | 4.8% | 13.3% | ||
| Q2 25 | 7.7% | 14.3% | ||
| Q1 25 | 8.3% | -4.4% | ||
| Q4 24 | 6.7% | -14.9% | ||
| Q3 24 | -17.6% | 8.9% | ||
| Q2 24 | 4.7% | 12.5% | ||
| Q1 24 | 5.1% | -1.9% |
| Q4 25 | 5.1% | -7.0% | ||
| Q3 25 | 0.2% | 5.0% | ||
| Q2 25 | 4.5% | 9.3% | ||
| Q1 25 | 3.1% | -5.4% | ||
| Q4 24 | 3.8% | -33.4% | ||
| Q3 24 | -13.4% | 3.9% | ||
| Q2 24 | 1.3% | 8.3% | ||
| Q1 24 | 3.5% | -7.1% |
| Q4 25 | $0.44 | $-0.06 | ||
| Q3 25 | $0.01 | $0.07 | ||
| Q2 25 | $0.42 | $0.13 | ||
| Q1 25 | $0.27 | $-0.05 | ||
| Q4 24 | $0.35 | $-0.24 | ||
| Q3 24 | $-0.94 | $0.05 | ||
| Q2 24 | $0.11 | $0.11 | ||
| Q1 24 | $0.30 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $105.4M | $279.8M |
| Stockholders' EquityBook value | $271.6M | $405.9M |
| Total Assets | $659.4M | $823.2M |
| Debt / EquityLower = less leverage | 0.39× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | — | ||
| Q3 25 | $64.8M | — | ||
| Q2 25 | $59.7M | — | ||
| Q1 25 | $49.4M | — | ||
| Q4 24 | $52.6M | — | ||
| Q3 24 | $51.0M | — | ||
| Q2 24 | $64.6M | — | ||
| Q1 24 | $59.2M | — |
| Q4 25 | $105.4M | $279.8M | ||
| Q3 25 | $106.5M | $281.1M | ||
| Q2 25 | $87.6M | $281.5M | ||
| Q1 25 | $73.9M | $306.9M | ||
| Q4 24 | $74.9M | $281.5M | ||
| Q3 24 | $83.4M | $282.8M | ||
| Q2 24 | $48.4M | $282.4M | ||
| Q1 24 | $48.9M | $282.8M |
| Q4 25 | $271.6M | $405.9M | ||
| Q3 25 | $263.6M | $408.4M | ||
| Q2 25 | $263.2M | $398.4M | ||
| Q1 25 | $256.1M | $381.1M | ||
| Q4 24 | $249.6M | $387.2M | ||
| Q3 24 | $247.1M | $416.6M | ||
| Q2 24 | $255.9M | $408.1M | ||
| Q1 24 | $256.0M | $391.8M |
| Q4 25 | $659.4M | $823.2M | ||
| Q3 25 | $643.3M | $844.4M | ||
| Q2 25 | $633.3M | $822.1M | ||
| Q1 25 | $628.3M | $824.6M | ||
| Q4 24 | $594.1M | $794.2M | ||
| Q3 24 | $590.9M | $853.4M | ||
| Q2 24 | $535.2M | $830.0M | ||
| Q1 24 | $490.3M | $808.6M |
| Q4 25 | 0.39× | 0.69× | ||
| Q3 25 | 0.40× | 0.69× | ||
| Q2 25 | 0.33× | 0.71× | ||
| Q1 25 | 0.29× | 0.81× | ||
| Q4 24 | 0.30× | 0.73× | ||
| Q3 24 | 0.34× | 0.68× | ||
| Q2 24 | 0.19× | 0.69× | ||
| Q1 24 | 0.19× | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $22.5M | $14.1M |
| FCF MarginFCF / Revenue | 20.2% | 14.1% |
| Capex IntensityCapex / Revenue | 1.3% | 9.2% |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $23.3M | ||
| Q3 25 | $-11.7M | $51.0M | ||
| Q2 25 | $10.5M | $36.0M | ||
| Q1 25 | $1.6M | $-46.9M | ||
| Q4 24 | $20.8M | $6.2M | ||
| Q3 24 | $-27.2M | $37.2M | ||
| Q2 24 | $8.3M | $52.4M | ||
| Q1 24 | $15.3M | $-34.5M |
| Q4 25 | $22.5M | $14.1M | ||
| Q3 25 | $-13.5M | $45.2M | ||
| Q2 25 | $8.2M | $29.1M | ||
| Q1 25 | $-1.2M | $-50.3M | ||
| Q4 24 | $18.3M | $-98.0K | ||
| Q3 24 | $-32.6M | $33.2M | ||
| Q2 24 | $7.5M | $47.9M | ||
| Q1 24 | $14.8M | $-39.9M |
| Q4 25 | 20.2% | 14.1% | ||
| Q3 25 | -12.6% | 27.9% | ||
| Q2 25 | 7.1% | 16.8% | ||
| Q1 25 | -1.0% | -45.2% | ||
| Q4 24 | 15.5% | -0.1% | ||
| Q3 24 | -36.8% | 22.1% | ||
| Q2 24 | 6.4% | 29.9% | ||
| Q1 24 | 13.4% | -36.0% |
| Q4 25 | 1.3% | 9.2% | ||
| Q3 25 | 1.6% | 3.6% | ||
| Q2 25 | 2.0% | 4.0% | ||
| Q1 25 | 2.5% | 3.1% | ||
| Q4 24 | 2.1% | 7.2% | ||
| Q3 24 | 6.1% | 2.7% | ||
| Q2 24 | 0.7% | 2.8% | ||
| Q1 24 | 0.4% | 4.8% |
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | 6.29× | ||
| Q2 25 | 2.02× | 2.25× | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | 5.37× | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
