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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and T1 Energy Inc. (TE). Click either name above to swap in a different company.
T1 Energy Inc. is the larger business by last-quarter revenue ($210.5M vs $111.5M, roughly 1.9× AVIAT NETWORKS, INC.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -62.0%, a 67.1% gap on every dollar of revenue. T1 Energy Inc. produced more free cash flow last quarter ($55.0M vs $22.5M).
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.
Sony Energy Devices Corporation , is a Japanese multinational company specializing in a variety of areas in the energy industry, and is a wholly owned subsidiary and part of the Devices Group of Sony. The company was established in February 1975 in Fukushima, Japan.
AVNW vs TE — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $210.5M |
| Net Profit | $5.7M | $-130.6M |
| Gross Margin | 32.4% | 10.0% |
| Operating Margin | 6.5% | -45.0% |
| Net Margin | 5.1% | -62.0% |
| Revenue YoY | -5.7% | — |
| Net Profit YoY | 27.2% | -375.2% |
| EPS (diluted) | $0.44 | $-0.87 |
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 | $210.5M | ||
| Q2 25 | $115.3M | $132.8M | ||
| Q1 25 | $112.6M | $53.5M | ||
| Q4 24 | $118.2M | — | ||
| Q3 24 | $88.4M | $0 | ||
| Q2 24 | $116.7M | $0 | ||
| Q1 24 | $110.8M | $0 |
| Q4 25 | $5.7M | — | ||
| Q3 25 | $162.0K | $-130.6M | ||
| Q2 25 | $5.2M | $-31.9M | ||
| Q1 25 | $3.5M | $-16.2M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $-11.9M | $-27.5M | ||
| Q2 24 | $1.5M | $-27.0M | ||
| Q1 24 | $3.9M | $-28.5M |
| Q4 25 | 32.4% | — | ||
| Q3 25 | 33.2% | 10.0% | ||
| Q2 25 | 34.2% | 24.7% | ||
| Q1 25 | 34.9% | 33.3% | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 22.4% | — | ||
| Q2 24 | 35.3% | — | ||
| Q1 24 | 32.5% | — |
| Q4 25 | 6.5% | — | ||
| Q3 25 | 4.8% | -45.0% | ||
| Q2 25 | 7.7% | -22.0% | ||
| Q1 25 | 8.3% | -44.2% | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | -17.6% | — | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 5.1% | — |
| Q4 25 | 5.1% | — | ||
| Q3 25 | 0.2% | -62.0% | ||
| Q2 25 | 4.5% | -24.0% | ||
| Q1 25 | 3.1% | -30.4% | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | -13.4% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 3.5% | — |
| Q4 25 | $0.44 | — | ||
| Q3 25 | $0.01 | $-0.87 | ||
| Q2 25 | $0.42 | $-0.21 | ||
| Q1 25 | $0.27 | $-0.11 | ||
| Q4 24 | $0.35 | — | ||
| Q3 24 | $-0.94 | $-0.20 | ||
| Q2 24 | $0.11 | $-0.19 | ||
| Q1 24 | $0.30 | $-0.20 |
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 | $34.1M |
| Total DebtLower is stronger | $105.4M | $547.3M |
| Stockholders' EquityBook value | $271.6M | $96.9M |
| Total Assets | $659.4M | $1.4B |
| Debt / EquityLower = less leverage | 0.39× | 5.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | — | ||
| Q3 25 | $64.8M | $34.1M | ||
| Q2 25 | $59.7M | $8.5M | ||
| Q1 25 | $49.4M | $48.9M | ||
| Q4 24 | $52.6M | — | ||
| Q3 24 | $51.0M | $181.9M | ||
| Q2 24 | $64.6M | $219.6M | ||
| Q1 24 | $59.2M | $249.9M |
| Q4 25 | $105.4M | — | ||
| Q3 25 | $106.5M | $547.3M | ||
| Q2 25 | $87.6M | $591.2M | ||
| Q1 25 | $73.9M | $603.2M | ||
| Q4 24 | $74.9M | — | ||
| Q3 24 | $83.4M | — | ||
| Q2 24 | $48.4M | — | ||
| Q1 24 | $48.9M | $602.3M |
| Q4 25 | $271.6M | — | ||
| Q3 25 | $263.6M | $96.9M | ||
| Q2 25 | $263.2M | $183.9M | ||
| Q1 25 | $256.1M | $201.9M | ||
| Q4 24 | $249.6M | — | ||
| Q3 24 | $247.1M | $538.7M | ||
| Q2 24 | $255.9M | $561.6M | ||
| Q1 24 | $256.0M | $582.3M |
| Q4 25 | $659.4M | — | ||
| Q3 25 | $643.3M | $1.4B | ||
| Q2 25 | $633.3M | $1.4B | ||
| Q1 25 | $628.3M | $1.4B | ||
| Q4 24 | $594.1M | — | ||
| Q3 24 | $590.9M | $615.0M | ||
| Q2 24 | $535.2M | $644.4M | ||
| Q1 24 | $490.3M | $670.3M |
| Q4 25 | 0.39× | — | ||
| Q3 25 | 0.40× | 5.65× | ||
| Q2 25 | 0.33× | 3.21× | ||
| Q1 25 | 0.29× | 2.99× | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.19× | 1.03× |
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 | $63.9M |
| Free Cash FlowOCF − Capex | $22.5M | $55.0M |
| FCF MarginFCF / Revenue | 20.2% | 26.1% |
| Capex IntensityCapex / Revenue | 1.3% | 4.2% |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $-42.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | — | ||
| Q3 25 | $-11.7M | $63.9M | ||
| Q2 25 | $10.5M | $33.4M | ||
| Q1 25 | $1.6M | $-44.8M | ||
| Q4 24 | $20.8M | — | ||
| Q3 24 | $-27.2M | $-28.4M | ||
| Q2 24 | $8.3M | $-28.0M | ||
| Q1 24 | $15.3M | $-16.2M |
| Q4 25 | $22.5M | — | ||
| Q3 25 | $-13.5M | $55.0M | ||
| Q2 25 | $8.2M | $10.6M | ||
| Q1 25 | $-1.2M | $-74.0M | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $-32.6M | $-34.0M | ||
| Q2 24 | $7.5M | $-35.6M | ||
| Q1 24 | $14.8M | $-37.7M |
| Q4 25 | 20.2% | — | ||
| Q3 25 | -12.6% | 26.1% | ||
| Q2 25 | 7.1% | 8.0% | ||
| Q1 25 | -1.0% | -138.4% | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | -36.8% | — | ||
| Q2 24 | 6.4% | — | ||
| Q1 24 | 13.4% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.6% | 4.2% | ||
| Q2 25 | 2.0% | 17.2% | ||
| Q1 25 | 2.5% | 54.5% | ||
| 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% |
TE
| Related Party | $120.1M | 57% |
| Nonrelated Party | $90.4M | 43% |
