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AVIAT NETWORKS, INC.（AVNW）与RE/MAX Holdings, Inc.（RMAX）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RE/MAX Holdings, Inc.的1.6倍（$111.5M vs $71.1M），AVIAT NETWORKS, INC.净利率更高（5.1% vs 2.0%，领先3.1%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -5.7%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $22.5M），过去两年AVIAT NETWORKS, INC.的营收复合增速更高（0.3% vs -4.7%）
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。
RE/MAX是全球知名的房地产特许经营机构，业务遍布全球一百多个国家和地区，旗下拥有数千家门店，总计超过十万名房产经纪人，在国际房产中介领域拥有极高的品牌知名度与市场影响力。
AVNW vs RMAX — 直观对比
营收规模更大
AVNW
是对方的1.6倍
$71.1M
营收增速更快
RMAX
高出3.9%
-5.7%
净利率更高
AVNW
高出3.1%
2.0%
自由现金流更多
RMAX
多$11.0M
$22.5M
两年增速更快
AVNW
近两年复合增速
-4.7%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $111.5M | $71.1M |
| 净利润 | $5.7M | $1.4M |
| 毛利率 | 32.4% | — |
| 营业利润率 | 6.5% | 13.1% |
| 净利率 | 5.1% | 2.0% |
| 营收同比 | -5.7% | -1.8% |
| 净利润同比 | 27.2% | -75.2% |
| 每股收益（稀释后） | $0.44 | — |
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AVNWRMAX
| Q4 25 | $111.5M | $71.1M | ||
| Q3 25 | $107.3M | $73.2M | ||
| Q2 25 | $115.3M | $72.8M | ||
| Q1 25 | $112.6M | $74.5M | ||
| Q4 24 | $118.2M | $72.5M | ||
| Q3 24 | $88.4M | $78.5M | ||
| Q2 24 | $116.7M | $78.5M | ||
| Q1 24 | $110.8M | $78.3M |
净利润AVNWRMAX
| Q4 25 | $5.7M | $1.4M | ||
| Q3 25 | $162.0K | $4.0M | ||
| Q2 25 | $5.2M | $4.7M | ||
| Q1 25 | $3.5M | $-2.0M | ||
| Q4 24 | $4.5M | $5.8M | ||
| Q3 24 | $-11.9M | $966.0K | ||
| Q2 24 | $1.5M | $3.7M | ||
| Q1 24 | $3.9M | $-3.4M |
毛利率AVNWRMAX
| Q4 25 | 32.4% | — | ||
| Q3 25 | 33.2% | — | ||
| Q2 25 | 34.2% | — | ||
| Q1 25 | 34.9% | — | ||
| Q4 24 | 34.6% | — | ||
| Q3 24 | 22.4% | — | ||
| Q2 24 | 35.3% | — | ||
| Q1 24 | 32.5% | — |
营业利润率AVNWRMAX
| Q4 25 | 6.5% | 13.1% | ||
| Q3 25 | 4.8% | 25.0% | ||
| Q2 25 | 7.7% | 19.3% | ||
| Q1 25 | 8.3% | 7.2% | ||
| Q4 24 | 6.7% | 5.9% | ||
| Q3 24 | -17.6% | 19.4% | ||
| Q2 24 | 4.7% | 20.6% | ||
| Q1 24 | 5.1% | 5.8% |
净利率AVNWRMAX
| Q4 25 | 5.1% | 2.0% | ||
| Q3 25 | 0.2% | 5.4% | ||
| Q2 25 | 4.5% | 6.4% | ||
| Q1 25 | 3.1% | -2.6% | ||
| Q4 24 | 3.8% | 8.0% | ||
| Q3 24 | -13.4% | 1.2% | ||
| Q2 24 | 1.3% | 4.7% | ||
| Q1 24 | 3.5% | -4.3% |
每股收益（稀释后）AVNWRMAX
| Q4 25 | $0.44 | — | ||
| Q3 25 | $0.01 | — | ||
| Q2 25 | $0.42 | — | ||
| Q1 25 | $0.27 | — | ||
| Q4 24 | $0.35 | — | ||
| Q3 24 | $-0.94 | — | ||
| Q2 24 | $0.11 | — | ||
| Q1 24 | $0.30 | — |
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 | $118.7M |
| 总债务越低越好 | $105.4M | $432.2M |
| 股东权益账面价值 | $271.6M | $452.4M |
| 总资产 | $659.4M | $582.5M |
| 负债/权益比越低杠杆越低 | 0.39× | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资AVNWRMAX
| Q4 25 | $86.5M | $118.7M | ||
| Q3 25 | $64.8M | $107.5M | ||
| Q2 25 | $59.7M | $94.3M | ||
| Q1 25 | $49.4M | $89.1M | ||
| Q4 24 | $52.6M | $96.6M | ||
| Q3 24 | $51.0M | $83.8M | ||
| Q2 24 | $64.6M | $66.1M | ||
| Q1 24 | $59.2M | $82.1M |
总债务AVNWRMAX
| Q4 25 | $105.4M | $432.2M | ||
| Q3 25 | $106.5M | $433.3M | ||
| Q2 25 | $87.6M | $434.4M | ||
| Q1 25 | $73.9M | $435.3M | ||
| Q4 24 | $74.9M | $436.2M | ||
| Q3 24 | $83.4M | $437.2M | ||
| Q2 24 | $48.4M | $438.1M | ||
| Q1 24 | $48.9M | $439.0M |
股东权益AVNWRMAX
| Q4 25 | $271.6M | $452.4M | ||
| Q3 25 | $263.6M | $448.1M | ||
| Q2 25 | $263.2M | $442.4M | ||
| Q1 25 | $256.1M | $433.5M | ||
| Q4 24 | $249.6M | $429.5M | ||
| Q3 24 | $247.1M | $423.1M | ||
| Q2 24 | $255.9M | $418.4M | ||
| Q1 24 | $256.0M | $412.0M |
总资产AVNWRMAX
| Q4 25 | $659.4M | $582.5M | ||
| Q3 25 | $643.3M | $582.2M | ||
| Q2 25 | $633.3M | $574.8M | ||
| Q1 25 | $628.3M | $571.4M | ||
| Q4 24 | $594.1M | $581.6M | ||
| Q3 24 | $590.9M | $578.6M | ||
| Q2 24 | $535.2M | $571.4M | ||
| Q1 24 | $490.3M | $566.7M |
负债/权益比AVNWRMAX
| Q4 25 | 0.39× | 0.96× | ||
| Q3 25 | 0.40× | 0.97× | ||
| Q2 25 | 0.33× | 0.98× | ||
| Q1 25 | 0.29× | 1.00× | ||
| Q4 24 | 0.30× | 1.02× | ||
| Q3 24 | 0.34× | 1.03× | ||
| Q2 24 | 0.19× | 1.05× | ||
| Q1 24 | 0.19× | 1.07× |
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 | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $22.5M | $33.5M |
| 自由现金流率自由现金流/营收 | 20.2% | 47.1% |
| 资本支出强度资本支出/营收 | 1.3% | 10.4% |
| 现金转化率经营现金流/净利润 | 4.18× | 28.39× |
| 过去12个月自由现金流最近4个季度 | $16.1M | $56.8M |
8季度趋势，按日历期对齐
经营现金流AVNWRMAX
| Q4 25 | $23.9M | $40.9M | ||
| Q3 25 | $-11.7M | $17.7M | ||
| Q2 25 | $10.5M | $4.6M | ||
| Q1 25 | $1.6M | $5.7M | ||
| Q4 24 | $20.8M | $59.7M | ||
| Q3 24 | $-27.2M | $17.6M | ||
| Q2 24 | $8.3M | $15.9M | ||
| Q1 24 | $15.3M | $9.4M |
自由现金流AVNWRMAX
| Q4 25 | $22.5M | $33.5M | ||
| Q3 25 | $-13.5M | $16.4M | ||
| Q2 25 | $8.2M | $2.9M | ||
| Q1 25 | $-1.2M | $4.0M | ||
| Q4 24 | $18.3M | $53.0M | ||
| Q3 24 | $-32.6M | $16.3M | ||
| Q2 24 | $7.5M | $14.0M | ||
| Q1 24 | $14.8M | $6.8M |
自由现金流率AVNWRMAX
| Q4 25 | 20.2% | 47.1% | ||
| Q3 25 | -12.6% | 22.4% | ||
| Q2 25 | 7.1% | 4.0% | ||
| Q1 25 | -1.0% | 5.3% | ||
| Q4 24 | 15.5% | 73.2% | ||
| Q3 24 | -36.8% | 20.8% | ||
| Q2 24 | 6.4% | 17.8% | ||
| Q1 24 | 13.4% | 8.6% |
资本支出强度AVNWRMAX
| Q4 25 | 1.3% | 10.4% | ||
| Q3 25 | 1.6% | 1.8% | ||
| Q2 25 | 2.0% | 2.2% | ||
| Q1 25 | 2.5% | 2.3% | ||
| Q4 24 | 2.1% | 9.1% | ||
| Q3 24 | 6.1% | 1.7% | ||
| Q2 24 | 0.7% | 2.4% | ||
| Q1 24 | 0.4% | 3.3% |
现金转化率AVNWRMAX
| Q4 25 | 4.18× | 28.39× | ||
| Q3 25 | -72.48× | 4.45× | ||
| Q2 25 | 2.02× | 0.97× | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | 5.37× | 4.29× | ||
| 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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
