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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and VICOR CORP (VICR). Click either name above to swap in a different company.
VICOR CORP is the larger business by last-quarter revenue ($113.0M vs $111.5M, roughly 1.0× AVIAT NETWORKS, INC.). VICOR CORP runs the higher net margin — 18.3% vs 5.1%, a 13.2% gap on every dollar of revenue. On growth, VICOR CORP posted the faster year-over-year revenue change (20.2% vs -5.7%). Over the past eight quarters, VICOR CORP's revenue compounded faster (14.7% 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.
Vicor Corporation is a manufacturer of power modules headquartered in Andover, Massachusetts.
AVNW vs VICR — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $113.0M |
| Net Profit | $5.7M | $20.7M |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | 59.7% |
| Net Margin | 5.1% | 18.3% |
| Revenue YoY | -5.7% | 20.2% |
| Net Profit YoY | 27.2% | 713.9% |
| EPS (diluted) | $0.44 | $0.44 |
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 | — | $113.0M | ||
| Q4 25 | $111.5M | $107.3M | ||
| Q3 25 | $107.3M | $110.4M | ||
| Q2 25 | $115.3M | $96.0M | ||
| Q1 25 | $112.6M | $94.0M | ||
| Q4 24 | $118.2M | $96.2M | ||
| Q3 24 | $88.4M | $93.2M | ||
| Q2 24 | $116.7M | $85.9M |
| Q1 26 | — | $20.7M | ||
| Q4 25 | $5.7M | $46.5M | ||
| Q3 25 | $162.0K | $28.3M | ||
| Q2 25 | $5.2M | $41.2M | ||
| Q1 25 | $3.5M | $2.5M | ||
| Q4 24 | $4.5M | $10.2M | ||
| Q3 24 | $-11.9M | $11.6M | ||
| Q2 24 | $1.5M | $-1.2M |
| Q1 26 | — | — | ||
| Q4 25 | 32.4% | 55.4% | ||
| Q3 25 | 33.2% | 57.5% | ||
| Q2 25 | 34.2% | 95.9% | ||
| Q1 25 | 34.9% | 47.2% | ||
| Q4 24 | 34.6% | 52.4% | ||
| Q3 24 | 22.4% | 49.1% | ||
| Q2 24 | 35.3% | 49.8% |
| Q1 26 | — | 59.7% | ||
| Q4 25 | 6.5% | 14.6% | ||
| Q3 25 | 4.8% | 18.9% | ||
| Q2 25 | 7.7% | 47.3% | ||
| Q1 25 | 8.3% | -0.2% | ||
| Q4 24 | 6.7% | 9.6% | ||
| Q3 24 | -17.6% | 5.8% | ||
| Q2 24 | 4.7% | 0.2% |
| Q1 26 | — | 18.3% | ||
| Q4 25 | 5.1% | 43.4% | ||
| Q3 25 | 0.2% | 25.6% | ||
| Q2 25 | 4.5% | 42.9% | ||
| Q1 25 | 3.1% | 2.7% | ||
| Q4 24 | 3.8% | 10.7% | ||
| Q3 24 | -13.4% | 12.4% | ||
| Q2 24 | 1.3% | -1.4% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | $0.44 | $1.01 | ||
| Q3 25 | $0.01 | $0.63 | ||
| Q2 25 | $0.42 | $0.91 | ||
| Q1 25 | $0.27 | $0.06 | ||
| Q4 24 | $0.35 | $0.24 | ||
| Q3 24 | $-0.94 | $0.26 | ||
| Q2 24 | $0.11 | $-0.03 |
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 | $404.2M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $754.1M |
| Total Assets | $659.4M | $804.9M |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $404.2M | ||
| Q4 25 | $86.5M | $402.8M | ||
| Q3 25 | $64.8M | $362.4M | ||
| Q2 25 | $59.7M | $338.5M | ||
| Q1 25 | $49.4M | $296.1M | ||
| Q4 24 | $52.6M | $277.3M | ||
| Q3 24 | $51.0M | $267.6M | ||
| Q2 24 | $64.6M | $251.9M |
| Q1 26 | — | — | ||
| 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 26 | — | $754.1M | ||
| Q4 25 | $271.6M | $711.6M | ||
| Q3 25 | $263.6M | $630.1M | ||
| Q2 25 | $263.2M | $608.6M | ||
| Q1 25 | $256.1M | $580.3M | ||
| Q4 24 | $249.6M | $570.1M | ||
| Q3 24 | $247.1M | $554.6M | ||
| Q2 24 | $255.9M | $537.2M |
| Q1 26 | — | $804.9M | ||
| Q4 25 | $659.4M | $785.8M | ||
| Q3 25 | $643.3M | $710.2M | ||
| Q2 25 | $633.3M | $693.5M | ||
| Q1 25 | $628.3M | $665.0M | ||
| Q4 24 | $594.1M | $641.1M | ||
| Q3 24 | $590.9M | $632.8M | ||
| Q2 24 | $535.2M | $613.2M |
| Q1 26 | — | — | ||
| 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× | — |
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 | $15.7M | ||
| Q3 25 | $-11.7M | $38.5M | ||
| Q2 25 | $10.5M | $65.2M | ||
| Q1 25 | $1.6M | $20.1M | ||
| Q4 24 | $20.8M | $10.1M | ||
| Q3 24 | $-27.2M | $22.6M | ||
| Q2 24 | $8.3M | $15.6M |
| Q1 26 | — | — | ||
| Q4 25 | $22.5M | $10.2M | ||
| Q3 25 | $-13.5M | $34.5M | ||
| Q2 25 | $8.2M | $59.0M | ||
| Q1 25 | $-1.2M | $15.6M | ||
| Q4 24 | $18.3M | $8.4M | ||
| Q3 24 | $-32.6M | $14.1M | ||
| Q2 24 | $7.5M | $9.4M |
| Q1 26 | — | — | ||
| Q4 25 | 20.2% | 9.5% | ||
| Q3 25 | -12.6% | 31.2% | ||
| Q2 25 | 7.1% | 61.5% | ||
| Q1 25 | -1.0% | 16.6% | ||
| Q4 24 | 15.5% | 8.7% | ||
| Q3 24 | -36.8% | 15.2% | ||
| Q2 24 | 6.4% | 11.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 5.2% | ||
| Q3 25 | 1.6% | 3.6% | ||
| Q2 25 | 2.0% | 6.5% | ||
| Q1 25 | 2.5% | 4.8% | ||
| Q4 24 | 2.1% | 1.8% | ||
| Q3 24 | 6.1% | 9.1% | ||
| Q2 24 | 0.7% | 7.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.18× | 0.34× | ||
| Q3 25 | -72.48× | 1.36× | ||
| Q2 25 | 2.02× | 1.58× | ||
| Q1 25 | 0.46× | 7.93× | ||
| Q4 24 | 4.62× | 0.99× | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | 5.37× | — |
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% |
VICR
| Product revenue | $98.0M | 87% |
| Royalty revenue | $15.0M | 13% |
