Aviat Networks vs Ceragon Networks
Aviat Networks is the larger business, with $440m of revenue in fiscal 2026 against $339m for Ceragon Networks (1.3 times as much). Aviat Networks grew faster (1.2% against -14.1%). Aviat Networks kept more of each dollar of sales as profit: a net margin of 0.6% against -0.6%. Ceragon Networks carries less debt relative to equity (11.0% against 36.3%).
| Latest fiscal year | Aviat NetworksAVNW, 2026 | Ceragon NetworksCRNT, 2025 |
|---|---|---|
| Revenue | $440m | $339m |
| Revenue growth | 1.2% | -14.1% |
| Net income | $2.5m | −$2.1m |
| Operating margin | 4.4% | 2.1% |
| Net margin | 0.6% | -0.6% |
| Return on equity | 1.0% | -1.2% |
| Free cash flow | $6.1m | $17.9m |
| Cash | $72.8m | $38.4m |
| Total debt | $97.0m | $19.0m |
| Debt to equity | 36.3% | 11.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 900 | — |
| Market value | $258m | $184m |
| Price vs our value range | — | Below our value range |
| Moat score | 46 (Moderate) | 27 (Weak) |
| Insider trades, 12 months | 0 buys, 7 sales | 0 buys, 2 sales |