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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and Vital Farms, Inc. (VITL). Click either name above to swap in a different company.
Vital Farms, Inc. is the larger business by last-quarter revenue ($213.6M vs $111.5M, roughly 1.9× AVIAT NETWORKS, INC.). Vital Farms, Inc. runs the higher net margin — 7.6% vs 5.1%, a 2.5% gap on every dollar of revenue. On growth, Vital Farms, Inc. posted the faster year-over-year revenue change (28.7% vs -5.7%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $-32.1M). Over the past eight quarters, Vital Farms, Inc.'s revenue compounded faster (20.2% 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.
Vital Tomosi Dairy Limited is a dairy processing company in Uganda. The company is a joint venture between Vital Capital Fund, "an impact investing fund primarily focused on Sub-Saharan Africa", and "Tomosi Dairy Farms, a Ugandan producer of dairy products".
AVNW vs VITL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $213.6M |
| Net Profit | $5.7M | $16.3M |
| Gross Margin | 32.4% | 35.8% |
| Operating Margin | 6.5% | 10.0% |
| Net Margin | 5.1% | 7.6% |
| Revenue YoY | -5.7% | 28.7% |
| Net Profit YoY | 27.2% | 54.3% |
| EPS (diluted) | $0.44 | $0.35 |
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 | $213.6M | ||
| Q3 25 | $107.3M | $198.9M | ||
| Q2 25 | $115.3M | $184.8M | ||
| Q1 25 | $112.6M | $162.2M | ||
| Q4 24 | $118.2M | $166.0M | ||
| Q3 24 | $88.4M | $145.0M | ||
| Q2 24 | $116.7M | $147.4M | ||
| Q1 24 | $110.8M | $147.9M |
| Q4 25 | $5.7M | $16.3M | ||
| Q3 25 | $162.0K | $16.4M | ||
| Q2 25 | $5.2M | $16.6M | ||
| Q1 25 | $3.5M | $16.9M | ||
| Q4 24 | $4.5M | $10.6M | ||
| Q3 24 | $-11.9M | $7.4M | ||
| Q2 24 | $1.5M | $16.3M | ||
| Q1 24 | $3.9M | $19.0M |
| Q4 25 | 32.4% | 35.8% | ||
| Q3 25 | 33.2% | 37.7% | ||
| Q2 25 | 34.2% | 38.9% | ||
| Q1 25 | 34.9% | 38.5% | ||
| Q4 24 | 34.6% | 36.1% | ||
| Q3 24 | 22.4% | 36.9% | ||
| Q2 24 | 35.3% | 39.1% | ||
| Q1 24 | 32.5% | 39.8% |
| Q4 25 | 6.5% | 10.0% | ||
| Q3 25 | 4.8% | 10.8% | ||
| Q2 25 | 7.7% | 12.9% | ||
| Q1 25 | 8.3% | 13.4% | ||
| Q4 24 | 6.7% | 7.8% | ||
| Q3 24 | -17.6% | 6.4% | ||
| Q2 24 | 4.7% | 11.6% | ||
| Q1 24 | 5.1% | 16.3% |
| Q4 25 | 5.1% | 7.6% | ||
| Q3 25 | 0.2% | 8.3% | ||
| Q2 25 | 4.5% | 9.0% | ||
| Q1 25 | 3.1% | 10.4% | ||
| Q4 24 | 3.8% | 6.4% | ||
| Q3 24 | -13.4% | 5.1% | ||
| Q2 24 | 1.3% | 11.1% | ||
| Q1 24 | 3.5% | 12.9% |
| Q4 25 | $0.44 | $0.35 | ||
| Q3 25 | $0.01 | $0.36 | ||
| Q2 25 | $0.42 | $0.36 | ||
| Q1 25 | $0.27 | $0.37 | ||
| Q4 24 | $0.35 | $0.23 | ||
| Q3 24 | $-0.94 | $0.16 | ||
| Q2 24 | $0.11 | $0.36 | ||
| Q1 24 | $0.30 | $0.43 |
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 | $48.8M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $351.3M |
| Total Assets | $659.4M | $518.7M |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $48.8M | ||
| Q3 25 | $64.8M | $93.8M | ||
| Q2 25 | $59.7M | $108.2M | ||
| Q1 25 | $49.4M | $156.3M | ||
| Q4 24 | $52.6M | $150.6M | ||
| Q3 24 | $51.0M | $149.5M | ||
| Q2 24 | $64.6M | $133.2M | ||
| Q1 24 | $59.2M | $113.8M |
| 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 | $351.3M | ||
| Q3 25 | $263.6M | $331.2M | ||
| Q2 25 | $263.2M | $309.8M | ||
| Q1 25 | $256.1M | $288.9M | ||
| Q4 24 | $249.6M | $269.3M | ||
| Q3 24 | $247.1M | $253.4M | ||
| Q2 24 | $255.9M | $238.4M | ||
| Q1 24 | $256.0M | $213.3M |
| Q4 25 | $659.4M | $518.7M | ||
| Q3 25 | $643.3M | $481.5M | ||
| Q2 25 | $633.3M | $430.8M | ||
| Q1 25 | $628.3M | $376.9M | ||
| Q4 24 | $594.1M | $359.3M | ||
| Q3 24 | $590.9M | $344.7M | ||
| Q2 24 | $535.2M | $320.5M | ||
| Q1 24 | $490.3M | $300.2M |
| 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 | $5.8M |
| Free Cash FlowOCF − Capex | $22.5M | $-32.1M |
| FCF MarginFCF / Revenue | 20.2% | -15.1% |
| Capex IntensityCapex / Revenue | 1.3% | 17.8% |
| Cash ConversionOCF / Net Profit | 4.18× | 0.35× |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $-48.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $5.8M | ||
| Q3 25 | $-11.7M | $23.4M | ||
| Q2 25 | $10.5M | $-761.0K | ||
| Q1 25 | $1.6M | $5.3M | ||
| Q4 24 | $20.8M | $14.8M | ||
| Q3 24 | $-27.2M | $10.0M | ||
| Q2 24 | $8.3M | $16.1M | ||
| Q1 24 | $15.3M | $23.9M |
| Q4 25 | $22.5M | $-32.1M | ||
| Q3 25 | $-13.5M | $-10.6M | ||
| Q2 25 | $8.2M | $-7.6M | ||
| Q1 25 | $-1.2M | $2.1M | ||
| Q4 24 | $18.3M | $-3.4M | ||
| Q3 24 | $-32.6M | $6.4M | ||
| Q2 24 | $7.5M | $10.5M | ||
| Q1 24 | $14.8M | $22.6M |
| Q4 25 | 20.2% | -15.1% | ||
| Q3 25 | -12.6% | -5.3% | ||
| Q2 25 | 7.1% | -4.1% | ||
| Q1 25 | -1.0% | 1.3% | ||
| Q4 24 | 15.5% | -2.0% | ||
| Q3 24 | -36.8% | 4.4% | ||
| Q2 24 | 6.4% | 7.2% | ||
| Q1 24 | 13.4% | 15.3% |
| Q4 25 | 1.3% | 17.8% | ||
| Q3 25 | 1.6% | 17.1% | ||
| Q2 25 | 2.0% | 3.7% | ||
| Q1 25 | 2.5% | 1.9% | ||
| Q4 24 | 2.1% | 10.9% | ||
| Q3 24 | 6.1% | 2.5% | ||
| Q2 24 | 0.7% | 3.8% | ||
| Q1 24 | 0.4% | 0.9% |
| Q4 25 | 4.18× | 0.35× | ||
| Q3 25 | -72.48× | 1.43× | ||
| Q2 25 | 2.02× | -0.05× | ||
| Q1 25 | 0.46× | 0.31× | ||
| Q4 24 | 4.62× | 1.40× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | 5.37× | 0.99× | ||
| Q1 24 | 3.96× | 1.26× |
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% |
VITL
| Eggs And Egg Related Products | $205.8M | 96% |
| Butter And Butter Related Products | $7.7M | 4% |
