Aviat Networks Inc. Common Stock (AVNW)

FairStock Score: 53/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Aviat as a Graham-style asset situation. At the 2026-10-13 close of $20.40, the market capitalization is $261.2 million. FairStock's P/B is 0.98, so the stock trades near book value, which is why its computed Lynch category is ASSET PLAY. That is the main attraction. But an asset play only works if the assets are productive and the earnings power is intact. Here, FairStock's ROE is 0.96% and ROCE is 2.17%, which is not the signature of a high-quality business. In fiscal 2026, the year ended 2026-07-03, Aviat reported revenue of $439.7 million, net income of $2.5 million, and diluted EPS of $0.19. In fiscal 2025, the year ended 2025-06-27, revenue was $434.6 million, net income $1.3 million, and diluted EPS $0.10. In fiscal 2024, the year ended 2024-06-28, revenue was $408.1 million, net income $10.8 million, and diluted EPS $0.86. So revenue has grown modestly, but profits have shrunk and remain thin. The fiscal Q3 2026 quarter ended 2026-03-27 showed revenue of $100.0 million and a net loss of $2.1 million, or diluted EPS of -$0.16. FairStock's trailing free cash flow is $6.1 million, a 2.3% FCF yield, and its Piotroski F-Score is 7/9, so there are some positives. But FairStock's P/E of 107.37, Graham Number of $9.45, and margin of safety of -115.87% tell me the price is not protected by earnings. FairStock's Altman Z-Score of -0.19 also suggests financial fragility. I would want evidence that book value is real and earnings can recover before calling this a true bargain.

In plain English: Aviat Networks makes microwave and wireless networking gear used by telecom and industrial customers around the world. The business looks weak on profits: sales have moved only modestly over the past three fiscal years, while net income and per-share earnings have been thin and uneven, including a recent quarterly loss. At the 2026-10-13 close of $20.40, the stock looks expensive relative to those small earnings but close to the accounting value of its net assets, so it is not an obvious bargain on either profits or assets.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-03-27) · fiscal Q2 2026 10-Q (period ended 2025-12-26) · fiscal Q1 2026 10-Q (period ended 2025-09-26) · fiscal Q3 2025 10-Q (period ended 2025-03-28) · FY2026 10-K (period ended 2026-07-03) · FY2025 10-K (period ended 2025-06-27) · FY2024 10-K (period ended 2024-06-28)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer