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AVIAT NETWORKS, INC.（AVNW）与Repay Holdings Corp（RPAY）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Repay Holdings Corp的1.4倍（$111.5M vs $78.6M），AVIAT NETWORKS, INC.净利率更高（5.1% vs -178.3%，领先183.4%），Repay Holdings Corp同比增速更快（0.4% vs -5.7%），Repay Holdings Corp自由现金流更多（$23.2M vs $22.5M），过去两年AVIAT NETWORKS, INC.的营收复合增速更高（0.3% vs -1.3%）
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。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
AVNW vs RPAY — 直观对比
营收规模更大
AVNW
是对方的1.4倍
$78.6M
营收增速更快
RPAY
高出6.1%
-5.7%
净利率更高
AVNW
高出183.4%
-178.3%
自由现金流更多
RPAY
多$754.0K
$22.5M
两年增速更快
AVNW
近两年复合增速
-1.3%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $111.5M | $78.6M |
| 净利润 | $5.7M | $-140.1M |
| 毛利率 | 32.4% | 74.2% |
| 营业利润率 | 6.5% | -182.2% |
| 净利率 | 5.1% | -178.3% |
| 营收同比 | -5.7% | 0.4% |
| 净利润同比 | 27.2% | -3304.1% |
| 每股收益（稀释后） | $0.44 | $-1.68 |
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AVNWRPAY
| Q4 25 | $111.5M | $78.6M | ||
| Q3 25 | $107.3M | $77.7M | ||
| Q2 25 | $115.3M | $75.6M | ||
| Q1 25 | $112.6M | $77.3M | ||
| Q4 24 | $118.2M | $78.3M | ||
| Q3 24 | $88.4M | $79.1M | ||
| Q2 24 | $116.7M | $74.9M | ||
| Q1 24 | $110.8M | $80.7M |
净利润AVNWRPAY
| Q4 25 | $5.7M | $-140.1M | ||
| Q3 25 | $162.0K | $-6.4M | ||
| Q2 25 | $5.2M | $-102.3M | ||
| Q1 25 | $3.5M | $-7.9M | ||
| Q4 24 | $4.5M | $-4.1M | ||
| Q3 24 | $-11.9M | $3.2M | ||
| Q2 24 | $1.5M | $-4.1M | ||
| Q1 24 | $3.9M | $-5.2M |
毛利率AVNWRPAY
| Q4 25 | 32.4% | 74.2% | ||
| Q3 25 | 33.2% | 74.4% | ||
| Q2 25 | 34.2% | 75.7% | ||
| Q1 25 | 34.9% | 75.9% | ||
| Q4 24 | 34.6% | 76.3% | ||
| Q3 24 | 22.4% | 77.8% | ||
| Q2 24 | 35.3% | 78.2% | ||
| Q1 24 | 32.5% | 76.2% |
营业利润率AVNWRPAY
| Q4 25 | 6.5% | -182.2% | ||
| Q3 25 | 4.8% | -3.9% | ||
| Q2 25 | 7.7% | -138.7% | ||
| Q1 25 | 8.3% | -4.7% | ||
| Q4 24 | 6.7% | -1.5% | ||
| Q3 24 | -17.6% | -0.9% | ||
| Q2 24 | 4.7% | -4.6% | ||
| Q1 24 | 5.1% | -3.1% |
净利率AVNWRPAY
| Q4 25 | 5.1% | -178.3% | ||
| Q3 25 | 0.2% | -8.3% | ||
| Q2 25 | 4.5% | -135.2% | ||
| Q1 25 | 3.1% | -10.3% | ||
| Q4 24 | 3.8% | -5.3% | ||
| Q3 24 | -13.4% | 4.1% | ||
| Q2 24 | 1.3% | -5.4% | ||
| Q1 24 | 3.5% | -6.5% |
每股收益（稀释后）AVNWRPAY
| Q4 25 | $0.44 | $-1.68 | ||
| Q3 25 | $0.01 | $-0.08 | ||
| Q2 25 | $0.42 | $-1.15 | ||
| Q1 25 | $0.27 | $-0.09 | ||
| Q4 24 | $0.35 | $-0.04 | ||
| Q3 24 | $-0.94 | $0.03 | ||
| Q2 24 | $0.11 | $-0.04 | ||
| Q1 24 | $0.30 | $-0.06 |
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 | $115.7M |
| 总债务越低越好 | $105.4M | $280.1M |
| 股东权益账面价值 | $271.6M | $484.4M |
| 总资产 | $659.4M | $1.2B |
| 负债/权益比越低杠杆越低 | 0.39× | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资AVNWRPAY
| Q4 25 | $86.5M | $115.7M | ||
| Q3 25 | $64.8M | $95.7M | ||
| Q2 25 | $59.7M | $162.6M | ||
| Q1 25 | $49.4M | $165.5M | ||
| Q4 24 | $52.6M | $189.5M | ||
| Q3 24 | $51.0M | $168.7M | ||
| Q2 24 | $64.6M | $147.1M | ||
| Q1 24 | $59.2M | $128.3M |
总债务AVNWRPAY
| Q4 25 | $105.4M | $280.1M | ||
| Q3 25 | $106.5M | $279.5M | ||
| Q2 25 | $87.6M | $279.0M | ||
| Q1 25 | $73.9M | $497.6M | ||
| Q4 24 | $74.9M | $496.8M | ||
| Q3 24 | $83.4M | $496.2M | ||
| Q2 24 | $48.4M | $435.6M | ||
| Q1 24 | $48.9M | $434.9M |
股东权益AVNWRPAY
| Q4 25 | $271.6M | $484.4M | ||
| Q3 25 | $263.6M | $616.9M | ||
| Q2 25 | $263.2M | $633.7M | ||
| Q1 25 | $256.1M | $755.7M | ||
| Q4 24 | $249.6M | $761.3M | ||
| Q3 24 | $247.1M | $754.7M | ||
| Q2 24 | $255.9M | $815.4M | ||
| Q1 24 | $256.0M | $813.8M |
总资产AVNWRPAY
| Q4 25 | $659.4M | $1.2B | ||
| Q3 25 | $643.3M | $1.3B | ||
| Q2 25 | $633.3M | $1.4B | ||
| Q1 25 | $628.3M | $1.5B | ||
| Q4 24 | $594.1M | $1.6B | ||
| Q3 24 | $590.9M | $1.6B | ||
| Q2 24 | $535.2M | $1.5B | ||
| Q1 24 | $490.3M | $1.5B |
负债/权益比AVNWRPAY
| Q4 25 | 0.39× | 0.58× | ||
| Q3 25 | 0.40× | 0.45× | ||
| Q2 25 | 0.33× | 0.44× | ||
| Q1 25 | 0.29× | 0.66× | ||
| Q4 24 | 0.30× | 0.65× | ||
| Q3 24 | 0.34× | 0.66× | ||
| Q2 24 | 0.19× | 0.53× | ||
| Q1 24 | 0.19× | 0.53× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $22.5M | $23.2M |
| 自由现金流率自由现金流/营收 | 20.2% | 29.6% |
| 资本支出强度资本支出/营收 | 1.3% | 0.1% |
| 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 | $90.7M |
8季度趋势，按日历期对齐
经营现金流AVNWRPAY
| Q4 25 | $23.9M | $23.3M | ||
| Q3 25 | $-11.7M | $32.2M | ||
| Q2 25 | $10.5M | $33.1M | ||
| Q1 25 | $1.6M | $2.5M | ||
| Q4 24 | $20.8M | $34.3M | ||
| Q3 24 | $-27.2M | $60.1M | ||
| Q2 24 | $8.3M | $31.0M | ||
| Q1 24 | $15.3M | $24.8M |
自由现金流AVNWRPAY
| Q4 25 | $22.5M | $23.2M | ||
| Q3 25 | $-13.5M | $32.1M | ||
| Q2 25 | $8.2M | $33.0M | ||
| Q1 25 | $-1.2M | $2.4M | ||
| Q4 24 | $18.3M | $34.0M | ||
| Q3 24 | $-32.6M | $59.8M | ||
| Q2 24 | $7.5M | $30.5M | ||
| Q1 24 | $14.8M | $24.7M |
自由现金流率AVNWRPAY
| Q4 25 | 20.2% | 29.6% | ||
| Q3 25 | -12.6% | 41.3% | ||
| Q2 25 | 7.1% | 43.6% | ||
| Q1 25 | -1.0% | 3.0% | ||
| Q4 24 | 15.5% | 43.5% | ||
| Q3 24 | -36.8% | 75.6% | ||
| Q2 24 | 6.4% | 40.7% | ||
| Q1 24 | 13.4% | 30.6% |
资本支出强度AVNWRPAY
| Q4 25 | 1.3% | 0.1% | ||
| Q3 25 | 1.6% | 0.2% | ||
| Q2 25 | 2.0% | 0.1% | ||
| Q1 25 | 2.5% | 0.2% | ||
| Q4 24 | 2.1% | 0.3% | ||
| Q3 24 | 6.1% | 0.3% | ||
| Q2 24 | 0.7% | 0.6% | ||
| Q1 24 | 0.4% | 0.1% |
现金转化率AVNWRPAY
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | 5.37× | — | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
