AVNW has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
AVNW has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
Warning Sign:
Piotroski F-Score of 2 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Aviat Networks has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Aviat Networks's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Aviat Networks was 8. The lowest was 1. And the median was 5.
The historical data trend for Aviat Networks's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Aviat Networks Annual Data | |||||||||||||||||||||
Trend | Jun15 | Jun16 | Jun17 | Jun18 | Jun19 | Jun20 | Jun21 | Jun22 | Jun23 | Jun24 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial |
![]() |
![]() |
4.00 | 6.00 | 5.00 | 3.00 | 5.00 |
Aviat Networks Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Piotroski F-Score | Get a 7-Day Free Trial |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
5.00 | 5.00 | 5.00 | 1.00 | 2.00 |
For the Communication Equipment subindustry, Aviat Networks's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Hardware industry and Technology sector, Aviat Networks's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Aviat Networks's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Dec24) TTM: | Last Year (Dec23) TTM: |
Net Income was 3.418 + 0.447 + -11.879 + 4.495 = $-3.5 Mil. Cash Flow from Operations was 15.32 + 8.311 + -27.165 + 20.751 = $17.2 Mil. Revenue was 111.613 + 113.868 + 88.429 + 118.197 = $432.1 Mil. Gross Profit was 36.534 + 39.516 + 19.788 + 40.886 = $136.7 Mil. Average Total Assets from the begining of this year (Dec23) to the end of this year (Dec24) was (500.107 + 490.343 + 535.223 + 590.857 + 594.111) / 5 = $542.1282 Mil. Total Assets at the begining of this year (Dec23) was $500.1 Mil. Long-Term Debt & Capital Lease Obligation was $73.6 Mil. Total Current Assets was $422.9 Mil. Total Current Liabilities was $252.3 Mil. |
Net Income was 4.889 + 1.98 + 3.557 + 1.784 = $12.2 Mil. Revenue was 83.48 + 89.019 + 86.909 + 93.692 = $353.1 Mil. Gross Profit was 29.833 + 30.875 + 31.195 + 36.327 = $128.2 Mil. Average Total Assets from the begining of last year (Dec22) to the end of last year (Dec23) was (349.288 + 364.662 + 363.137 + 370.299 + 500.107) / 5 = $389.4986 Mil. Total Assets at the begining of last year (Dec22) was $349.3 Mil. Long-Term Debt & Capital Lease Obligation was $49.7 Mil. Total Current Assets was $367.0 Mil. Total Current Liabilities was $183.7 Mil. |
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Aviat Networks's current Net Income (TTM) was -3.5.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Aviat Networks's current Cash Flow from Operations (TTM) was 17.2.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Score 1 if it's higher, 0 if it's lower.
ROA (This Year) | = | Net Income | / | Total Assets (Dec23) |
= | -3.519 | / | 500.107 | |
= | -0.00703649 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec22) |
= | 12.21 | / | 349.288 | |
= | 0.03495683 |
Aviat Networks's return on assets of this year was -0.00703649. Aviat Networks's return on assets of last year was 0.03495683.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
Aviat Networks's current Net Income (TTM) was -3.5. Aviat Networks's current Cash Flow from Operations (TTM) was 17.2.
==> 17.2 > -3.5 ==> CFROA > ROA ==> Score 1.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Gearing (This Year: Dec24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec23 to Dec24 |
= | 73.645 | / | 542.1282 | |
= | 0.13584425 |
Gearing (Last Year: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 49.669 | / | 389.4986 | |
= | 0.12752036 |
Aviat Networks's gearing of this year was 0.13584425. Aviat Networks's gearing of last year was 0.12752036.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Current Ratio (This Year: Dec24) | = | Total Current Assets | / | Total Current Liabilities |
= | 422.907 | / | 252.29 | |
= | 1.67627334 |
Current Ratio (Last Year: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 366.961 | / | 183.714 | |
= | 1.99745801 |
Aviat Networks's current ratio of this year was 1.67627334. Aviat Networks's current ratio of last year was 1.99745801.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Aviat Networks's number of shares in issue this year was 12.784. Aviat Networks's number of shares in issue last year was 12.229.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Gross Margin (This Year: TTM) | = | Gross Profit | / | Revenue |
= | 136.724 | / | 432.107 | |
= | 0.31641237 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 128.23 | / | 353.1 | |
= | 0.36315491 |
Aviat Networks's gross margin of this year was 0.31641237. Aviat Networks's gross margin of last year was 0.36315491.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Asset Turnover (This Year) | = | Revenue | / | Total Assets at the Beginning of This Year (Dec23) |
= | 432.107 | / | 500.107 | |
= | 0.8640291 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec22) |
= | 353.1 | / | 349.288 | |
= | 1.01091363 |
Aviat Networks's asset turnover of this year was 0.8640291. Aviat Networks's asset turnover of last year was 1.01091363.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score | = | Que. 1 | + | Que. 2 | + | Que. 3 | + | Que. 4 | + | Que. 5 | + | Que. 6 | + | Que. 7 | + | Que. 8 | + | Que. 9 |
= | 0 | + | 1 | + | 0 | + | 1 | + | 0 | + | 0 | + | 0 | + | 0 | + | 0 | |
= | 2 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Aviat Networks has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Aviat Networks (NAS:AVNW) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Thank you for viewing the detailed overview of Aviat Networks's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Michele Klein | director | 469 MINOCA ROAD, PORTOLA VALLEY CA 94028 |
Pete A Smith | officer: President and CEO | C/O AVIAT NETWORKS, INC., 200 PARKER DR SUITE C100A, AUSTIN TX 78728 |
Bryan Tucker | officer: Sr. VP, Americas Sales and Ser | 200 PARKER DRIVE, SUITE C100A, AUSTIN TX 78728 |
Erin Boase | officer: VP Legal Affairs | AVIAT NETWORKS, INC., 200 PARKER DRIVE, SUITE C100A, AUSTIN TX 78728 |
Gary Croke | officer: VP Marketing and PLM | AVIAT NETWORKS, INC., 200 PARKER DRIVE, SUITE C100A, AUSTIN TX 78728 |
David M Gray | officer: Sr VP and CFO | AVIAT NETWORKS, INC, 200 PARKER DRIVE, SUITE C 100A, AUSTIN TX 78726 |
Bruce M. Taten | director | 600 TRAVIS, SUITE 5600, HOUSTON TX 77002 |
Somesh Singh | director | 1301 S MOPAC EXPRESSWAY, SUITE 100, AUSTIN TX 78746 |
Bryan Ingram | director | C/O AVAGO TECHNOLOGIES LIMITED, 350 WEST TRIMBLE ROAD, BLDG. 90, SAN JOSE CA 95131 |
Steel Excel Inc. | 10 percent owner | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Sph Group Llc | 10 percent owner | C/O STEEL PARTNERS HOLDINGS L.P., 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Steel Partners Holdings Gp Inc. | 10 percent owner | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Sph Group Holdings Llc | 10 percent owner | C/O STEEL PARTNERS HOLDINGS L.P., 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
Steel Partners Holdings L.p. | 10 percent owner | 590 MADISON AVENUE, 32ND FLOOR, NEW YORK NY 10022 |
James C Stoffel | director | 101 KNOLLWOOD DRIVE, ROCHESTER NY 14618 |
From GuruFocus
By PRNewswire • 02-03-2025
By GuruFocus News • 11-05-2024
By GuruFocus News • 02-04-2025
By Marketwired • 12-10-2024
By Marketwired • 11-15-2024
By Marketwired • 10-10-2024
By PRNewswire • 01-23-2025
By GuruFocus News • 02-05-2025
By GuruFocus News • 12-30-2024
By GuruFocus News • 01-06-2025
Disclaimers: GuruFocus.com is not operated by a broker or a dealer. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. This investment adviser does not provide advice to individual investors. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.