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AVIAT NETWORKS, INC.（AVNW）与COMTECH TELECOMMUNICATIONS CORP（CMTL）财务数据对比。点击上方公司名可切换其他公司
AVIAT NETWORKS, INC.的季度营收约是COMTECH TELECOMMUNICATIONS CORP的1.0倍（$111.5M vs $111.0M）。AVIAT NETWORKS, INC.净利率更高（5.1% vs -14.3%，领先19.4%）。COMTECH TELECOMMUNICATIONS CORP同比增速更快（-4.1% vs -5.7%）。AVIAT NETWORKS, INC.自由现金流更多（$22.5M vs $4.8M）。过去两年AVIAT NETWORKS, INC.的营收复合增速更高（0.3% vs -9.0%）
Aviat Networks是全球领先的微波传输与回传解决方案供应商，为公共及私营通信运营商提供通信基础设施支撑，同时也面向企业客户提供相关产品与服务，助力客户构建稳定高效的通信网络。
Comtech Telecommunications是一家总部位于美国的全球通信技术提供商，主营卫星通信系统、地面网络基础设施及定位服务，客户覆盖政府、国防、移动运营商和企业领域，为各类关键应用场景提供安全可靠的连接解决方案。
AVNW vs CMTL — 直观对比
营收规模更大
AVNW
是对方的1.0倍
$111.0M
营收增速更快
CMTL
高出1.6%
-5.7%
净利率更高
AVNW
高出19.4%
-14.3%
自由现金流更多
AVNW
多$17.7M
$4.8M
两年增速更快
AVNW
近两年复合增速
-9.0%
损益表 — Q2 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $111.5M | $111.0M |
| 净利润 | $5.7M | $-15.9M |
| 毛利率 | 32.4% | 33.1% |
| 营业利润率 | 6.5% | -2.5% |
| 净利率 | 5.1% | -14.3% |
| 营收同比 | -5.7% | -4.1% |
| 净利润同比 | 27.2% | 89.3% |
| 每股收益（稀释后） | $0.44 | $-0.67 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AVNWCMTL
| Q4 25 | $111.5M | $111.0M | ||
| Q3 25 | $107.3M | $130.4M | ||
| Q2 25 | $115.3M | $126.8M | ||
| Q1 25 | $112.6M | $126.6M | ||
| Q4 24 | $118.2M | $115.8M | ||
| Q3 24 | $88.4M | $126.2M | ||
| Q2 24 | $116.7M | $128.1M | ||
| Q1 24 | $110.8M | $134.2M |
净利润AVNWCMTL
| Q4 25 | $5.7M | $-15.9M | ||
| Q3 25 | $162.0K | $7.9M | ||
| Q2 25 | $5.2M | $33.9M | ||
| Q1 25 | $3.5M | $-48.7M | ||
| Q4 24 | $4.5M | $-148.4M | ||
| Q3 24 | $-11.9M | $-90.8M | ||
| Q2 24 | $1.5M | $2.8M | ||
| Q1 24 | $3.9M | $-10.6M |
毛利率AVNWCMTL
| Q4 25 | 32.4% | 33.1% | ||
| Q3 25 | 33.2% | 31.2% | ||
| Q2 25 | 34.2% | 30.7% | ||
| Q1 25 | 34.9% | 26.7% | ||
| Q4 24 | 34.6% | 12.5% | ||
| Q3 24 | 22.4% | 21.5% | ||
| Q2 24 | 35.3% | 30.4% | ||
| Q1 24 | 32.5% | 32.2% |
营业利润率AVNWCMTL
| Q4 25 | 6.5% | -2.5% | ||
| Q3 25 | 4.8% | 1.4% | ||
| Q2 25 | 7.7% | -1.2% | ||
| Q1 25 | 8.3% | -8.1% | ||
| Q4 24 | 6.7% | -111.5% | ||
| Q3 24 | -17.6% | -64.6% | ||
| Q2 24 | 4.7% | -2.7% | ||
| Q1 24 | 5.1% | 2.2% |
净利率AVNWCMTL
| Q4 25 | 5.1% | -14.3% | ||
| Q3 25 | 0.2% | 6.1% | ||
| Q2 25 | 4.5% | 26.8% | ||
| Q1 25 | 3.1% | -38.5% | ||
| Q4 24 | 3.8% | -128.2% | ||
| Q3 24 | -13.4% | -71.9% | ||
| Q2 24 | 1.3% | 2.2% | ||
| Q1 24 | 3.5% | -7.9% |
每股收益（稀释后）AVNWCMTL
| Q4 25 | $0.44 | $-0.67 | ||
| Q3 25 | $0.01 | $-0.41 | ||
| Q2 25 | $0.42 | $-0.49 | ||
| Q1 25 | $0.27 | $-0.76 | ||
| Q4 24 | $0.35 | $-5.29 | ||
| Q3 24 | $-0.94 | $-3.48 | ||
| Q2 24 | $0.11 | $-0.04 | ||
| Q1 24 | $0.30 | $-1.07 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $86.5M | $43.6M |
| 总债务越低越好 | $105.4M | — |
| 股东权益账面价值 | $271.6M | $85.6M |
| 总资产 | $659.4M | $734.1M |
| 负债/权益比越低杠杆越低 | 0.39× | — |
8季度趋势，按日历期对齐
现金及短期投资AVNWCMTL
| Q4 25 | $86.5M | $43.6M | ||
| Q3 25 | $64.8M | $40.0M | ||
| Q2 25 | $59.7M | $28.4M | ||
| Q1 25 | $49.4M | $26.7M | ||
| Q4 24 | $52.6M | $29.6M | ||
| Q3 24 | $51.0M | $32.4M | ||
| Q2 24 | $64.6M | $27.2M | ||
| Q1 24 | $59.2M | $40.0M |
总债务AVNWCMTL
| 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 | — |
股东权益AVNWCMTL
| Q4 25 | $271.6M | $85.6M | ||
| Q3 25 | $263.6M | $104.4M | ||
| Q2 25 | $263.2M | $115.4M | ||
| Q1 25 | $256.1M | $128.7M | ||
| Q4 24 | $249.6M | $150.4M | ||
| Q3 24 | $247.1M | $306.3M | ||
| Q2 24 | $255.9M | $406.4M | ||
| Q1 24 | $256.0M | $407.0M |
总资产AVNWCMTL
| Q4 25 | $659.4M | $734.1M | ||
| Q3 25 | $643.3M | $740.8M | ||
| Q2 25 | $633.3M | $751.1M | ||
| Q1 25 | $628.3M | $770.6M | ||
| Q4 24 | $594.1M | $793.2M | ||
| Q3 24 | $590.9M | $793.2M | ||
| Q2 24 | $535.2M | $991.0M | ||
| Q1 24 | $490.3M | $996.8M |
负债/权益比AVNWCMTL
| 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× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $23.9M | $8.1M |
| 自由现金流经营现金流 - 资本支出 | $22.5M | $4.8M |
| 自由现金流率自由现金流/营收 | 20.2% | 4.3% |
| 资本支出强度资本支出/营收 | 1.3% | 2.9% |
| 现金转化率经营现金流/净利润 | 4.18× | — |
| 过去12个月自由现金流最近4个季度 | $16.1M | $12.2M |
8季度趋势，按日历期对齐
经营现金流AVNWCMTL
| Q4 25 | $23.9M | $8.1M | ||
| Q3 25 | $-11.7M | $11.4M | ||
| Q2 25 | $10.5M | $2.3M | ||
| Q1 25 | $1.6M | $-234.0K | ||
| Q4 24 | $20.8M | $-21.8M | ||
| Q3 24 | $-27.2M | $-9.5M | ||
| Q2 24 | $8.3M | $-3.8M | ||
| Q1 24 | $15.3M | $-26.7M |
自由现金流AVNWCMTL
| Q4 25 | $22.5M | $4.8M | ||
| Q3 25 | $-13.5M | $9.4M | ||
| Q2 25 | $8.2M | $-160.0K | ||
| Q1 25 | $-1.2M | $-1.9M | ||
| Q4 24 | $18.3M | $-24.2M | ||
| Q3 24 | $-32.6M | $-12.4M | ||
| Q2 24 | $7.5M | $-6.5M | ||
| Q1 24 | $14.8M | $-30.9M |
自由现金流率AVNWCMTL
| Q4 25 | 20.2% | 4.3% | ||
| Q3 25 | -12.6% | 7.2% | ||
| Q2 25 | 7.1% | -0.1% | ||
| Q1 25 | -1.0% | -1.5% | ||
| Q4 24 | 15.5% | -20.9% | ||
| Q3 24 | -36.8% | -9.8% | ||
| Q2 24 | 6.4% | -5.0% | ||
| Q1 24 | 13.4% | -23.0% |
资本支出强度AVNWCMTL
| Q4 25 | 1.3% | 2.9% | ||
| Q3 25 | 1.6% | 1.6% | ||
| Q2 25 | 2.0% | 1.9% | ||
| Q1 25 | 2.5% | 1.3% | ||
| Q4 24 | 2.1% | 2.1% | ||
| Q3 24 | 6.1% | 2.3% | ||
| Q2 24 | 0.7% | 2.1% | ||
| Q1 24 | 0.4% | 3.2% |
现金转化率AVNWCMTL
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | 1.45× | ||
| Q2 25 | 2.02× | 0.07× | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.37× | -1.36× | ||
| Q1 24 | 3.96× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AVNW
| Products | $81.2M | 73% |
| Services | $30.3M | 27% |
CMTL
| Satellite And Space Communications Segment | $55.1M | 50% |
| Transferred At Point In Time | $39.4M | 36% |
| Satellite And Space Communications | $16.3M | 15% |
| Terrestrial And Wireless Networks | $1.1M | 1% |
