AVNW vs ERIC vs CALX Stock Comparison

Aviat Networks, Ericsson Lm Telephone and Calix Prices as of Oct 26, 2026 Peers: Industry group
AVNW Aviat Networks, Inc.
$19.67 -2.1% 1M -21.5% 1Y
Market cap
$261.95M
P/E
103.2x
Revenue (TTM)
$439.68M
Div. yield
–
Networking Equipment Technology
1 win
ERIC Ericsson Lm Telephone Co
$10.89 +14.3% 1M +15.2% 1Y
Market cap
$36.91B
P/E
18.1x
Revenue (TTM)
$24.56B
Div. yield
-0.03%
Networking Equipment Technology
8 wins
CALX Calix, Inc
$37.69 +13.7% 1M -38.5% 1Y
Market cap
$2.43B
P/E
47.5x
Revenue (TTM)
$1.11B
Div. yield
–
Networking Equipment Technology
2 wins

Head to Head

11 decided of 12

Ericsson Lm Telephone leads on 8 of the 12 questions below (Ericsson Lm Telephone 8, Calix 2, Aviat Networks 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAVNWERICCALXLeader
Larger companyMarket capitalisation $261.95M $36.91B $2.43B ERIC
Cheaper on earningsLower P/E, profitable companies only 103.2x 18.1x 47.5x ERIC
Cheaper on forward earningsLower price / next fiscal year consensus EPS 7.6x 16.8x 23.3x AVNW
Faster revenue growthRevenue growth, trailing twelve months +1.2% -38.5% +27.8% CALX
More profitableNet margin, trailing twelve months 0.6% 8.3% 4.6% ERIC
Better return on capitalReturn on invested capital 1.0% 20.0% — ERIC
Less leveragedLower net debt / EBITDA 1.0x -0.6x — ERIC
Higher dividend yieldTrailing dividend yield 0.00% -0.03% 0.00% –
Better 1-year returnPrice return, last 12 months -21.5% +15.2% -38.5% ERIC
Better 5-year returnAnnualised price return, 5 years -7.4%/yr -0.2%/yr -8.5%/yr ERIC
Less volatileAnnualised volatility, 1 year 62.6% 36.5% 41.6% ERIC
Higher overall scoreMean of the five percentile scores vs peers 54/100 59/100 76/100 CALX

Percentile Scorecard

AVNWERICCALX

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAVNWERICCALX
Valuation 81 #22 of 111 88 #14 of 111 59 #46 of 111
Growth 66 #37 of 108 46 #59 of 108 81 #21 of 108
Profitability 46 #57 of 104 86 #15 of 104 65 #37 of 104
Financial Health 29 #82 of 115 40 #70 of 115 75 #29 of 115
Shareholder Returns 46 #44 of 81 38 #51 of 81 98 #3 of 81
Overall 54 59 76
  • AVNW ranked among 121 companies in Computer Hardware
  • ERIC ranked among 121 companies in Computer Hardware
  • CALX ranked among 121 companies in Computer Hardware

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAVNWERICCALXSPY
1 month -2.1%+14.3%+13.7% -0.8%
3 months -3.8%+12.6%+2.2% +3.5%
6 months -13.0%-1.5%-11.6% +7.0%
Year to date -8.0%+12.8%-28.8% +12.2%
1 year -21.5%+15.2%-38.5% +13.0%
3 years -22.7%+149.8%+15.2% +86.3%
3 years, per year -8.2%+35.7%+4.8% +23.1%
5 years -31.8%-1.0%-35.9% +68.6%
5 years, per year -7.4%-0.2%-8.5% +11.0%
10 years +355.3%+116.1%+493.5% +258.0%
10 years, per year +16.4%+8.0%+19.5% +13.6%

Risk

MeasureAVNWERICCALXSPY
Volatility, 1Y 62.6%36.5%41.6% 12.7%
Downside volatility, 1Y 78.1%36.7%44.0% 12.7%
Beta vs S&P 500, 1Y 1.651.030.88 1.00
Return / volatility, 1Y -0.340.42-0.92 1.02
Max drawdown, 5Y -65.1%-65.8%-65.3% -25.4%
From 52-week high -26.4%-20.7%-44.9% -1.8%
52-week high $26.74$13.74$68.42 $779.14
52-week low $15.09$9.15$33.15 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAVNWERICCALX
P/E now vs peer median 99.5xmedian 32.0x 17.8xmedian 32.0x 46.8xmedian 32.0x
P/S now vs peer median 0.6xmedian 2.8x 1.5xmedian 2.8x 2.1xmedian 2.8x
EV/EBITDA now vs peer median 10.9xmedian 19.4x 9.1xmedian 19.4x 27.5xmedian 19.4x
P/FCF now vs peer median 41.3xmedian 29.0x 9.8xmedian 29.0x 27.8xmedian 29.0x
P/B now vs peer median 0.9xmedian 2.9x 3.3xmedian 2.9x 3.3xmedian 2.9x
PEG now vs peer median -2.55median 1.13 0.41median 1.13 6.61median 1.13

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAVNWERICCALX
Revenue $439.68M $24.56B $1.11B
Gross profit $138.29M $11.51B $628.73M
Operating income $19.24M $2.90B $61.25M
Net income $2.54M $2.04B $51.19M
Free cash flow $6.09M $3.76B $85.42M
R&D $28.40M $5.22B $207.99M
EPS (diluted) $0.19 $0.61 $0.78
Cash & equivalents $72.84M $5.11B $68.91M
Total debt $97.00M $3.73B –
Shares (diluted) 13.03M 3.34B 65.51M
Enterprise value -$40.32M $14.53B $1.27B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAVNWERICCALX
P/E 99.5x 17.8x 46.8x
P/FCF 41.3x 9.8x 27.8x
P/Operating cash flow 18.6x 10.7x 21.7x
P/S 0.6x 1.5x 2.1x
P/B 0.9x 3.3x 3.3x
P/Tangible book 1.0x 3.3x 3.3x
EV/EBITDA 10.9x 9.1x 27.5x
EV/EBIT 14.3x 11.9x 35.6x
EV/Revenue 0.6x 1.4x 2.0x
EV/FCF 45.3x 9.2x 25.5x
EV/Operating cash flow 20.4x 10.0x 19.9x
PEG (3Y EPS CAGR) -2.55 0.41 6.61

Growth

14 metrics
MetricAVNWERICCALX
Revenue growth (1Y) 1.2% -38.5% 27.8%
Revenue CAGR (3Y) 8.5% -2.0% 3.9%
Gross profit growth (1Y) -0.8% 3.7% 30.3%
Gross profit CAGR (3Y) 4.2% 4.0% 7.4%
Operating income growth (1Y) 81.9% -18.4% 273.3%
Operating income CAGR (3Y) -7.9% 55.0% 3.8%
Net income growth (1Y) 89.3% -18.7% 290.5%
Net income CAGR (3Y) -37.0% 43.4% 4.9%
EPS growth (1Y) 86.4% -17.7% 287.6%
EPS CAGR (3Y) -39.0% 43.1% 7.1%
Operating cash flow growth (1Y) 137.0% 4.3% 24.5%
Operating cash flow CAGR (3Y) 117.2% 44.0% 41.8%
Free cash flow growth (1Y) 184.0% 6.1% 19.4%
Free cash flow CAGR (3Y) 42.2% 34.7% 62.0%

Profitability

14 metrics
MetricAVNWERICCALX
Gross margin 31.5% 46.8% 56.6%
EBITDA margin 5.8% 15.4% 7.1%
Operating margin 4.4% 11.8% 5.5%
Pretax margin 3.0% 11.2% 6.5%
Net margin 0.6% 8.3% 4.6%
FCF margin 1.4% 15.3% 7.7%
Operating cash flow margin 3.1% 14.0% 9.9%
Return on equity 0.9% 18.7% 7.1%
Return on assets 0.4% 6.8% 5.4%
Return on invested capital 1.0% 20.0% –
Return on capital employed 5.0% 17.8% 8.2%
Asset turnover 0.7x 0.8x 1.2x
Cash conversion (OCF / net income) 5.3x 1.7x 2.1x
Stock comp / revenue 1.4% – 7.2%

Financial Health

11 metrics
MetricAVNWERICCALX
Debt / assets 16.2% 12.4% –
Debt / equity 0.4x 0.3x –
Net debt / EBITDA 1.0x -0.6x –
Debt / FCF 15.9x 1.0x –
Liabilities / assets 55.4% 63.1% 25.6%
Equity / assets 44.6% 36.9% 74.4%
Interest coverage – – –
Current ratio 2.0x 1.2x 2.8x
Quick ratio 1.6x 0.8x 1.6x
Cash ratio 0.3x 0.4x 0.9x
Altman Z-score 0.39 – 7.18

Shareholder Returns

7 metrics
MetricAVNWERICCALX
Dividend yield – 2.8% –
Net buyback yield 0.0% -2.2% 8.1%
Shareholder yield 0.0% 0.6% 8.1%
Payout ratio (earnings) – 50.9% –
Payout ratio (FCF) – 27.7% –
Dividend growth (1Y) – -13.4% –
Dividend CAGR (3Y) – -7.7% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAVNWERICCALX
Forward P/E 7.6xFY2027 16.8xFY2026 23.3xFY2026
EPS, next fiscal year $2.60FY2027 $0.65FY2026 $1.62FY2026
EPS growth, next FY +56.6%FY2027 -30.9%FY2026 +20.9%FY2026
EPS growth, the year after +21.9% -3.1% +48.1%
Revenue, next fiscal year $436.13MFY2027 $24.16BFY2026 $1.11BFY2026
Revenue growth, next FY -0.8%FY2027 -8.1%FY2026 +11.0%FY2026
Revenue growth, the year after +8.1% +1.0% +18.8%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAVNWERICCALX
Held by institutions 81.1% 9.5% 94.5%
Institutions holding 123 388 288
Change in shares held, QoQ +2.4% +0.4% +0.5%
Institutions buying 68 219 148
Institutions selling 35 110 111
Buyers to sellers 1.94 1.99 1.33

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AVNWERICCALX
AVNW 1.00 0.12 0.16
ERIC 0.12 1.00 0.26
CALX 0.16 0.26 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, AVNW, ERIC and CALX?

Ericsson Lm Telephone (ERIC) is the largest by market capitalisation: Aviat Networks (AVNW) $261.95M, Ericsson Lm Telephone (ERIC) $36.91B, Calix (CALX) $2.43B.

Which stock is cheaper, AVNW, ERIC and CALX?

Ericsson Lm Telephone (ERIC) trades on the lowest price-to-earnings ratio (Aviat Networks (AVNW) 103.2x, Ericsson Lm Telephone (ERIC) 18.1x, Calix (CALX) 47.5x). On next year's consensus earnings, Aviat Networks (AVNW) is cheapest (Aviat Networks (AVNW) 7.6x, Ericsson Lm Telephone (ERIC) 16.8x, Calix (CALX) 23.3x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Calix (CALX) grew revenue fastest over the trailing twelve months: Aviat Networks (AVNW) +1.2%, Ericsson Lm Telephone (ERIC) -38.5%, Calix (CALX) +27.8%.

Which company is more profitable?

Ericsson Lm Telephone (ERIC) has the highest net margin (Aviat Networks (AVNW) 0.6%, Ericsson Lm Telephone (ERIC) 8.3%, Calix (CALX) 4.6%). On return on invested capital, Ericsson Lm Telephone (ERIC) leads (Aviat Networks (AVNW) 1.0%, Ericsson Lm Telephone (ERIC) 20.0%).

Which stock has performed better?

Over the past year Ericsson Lm Telephone (ERIC) returned the most: Aviat Networks (AVNW) -21.5%, Ericsson Lm Telephone (ERIC) +15.2%, Calix (CALX) -38.5%. Over five years, Ericsson Lm Telephone (ERIC) compounded fastest (Aviat Networks (AVNW) -7.4%/yr, Ericsson Lm Telephone (ERIC) -0.2%/yr, Calix (CALX) -8.5%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Ericsson Lm Telephone (ERIC) has been the steadiest (Aviat Networks (AVNW) 62.6%, Ericsson Lm Telephone (ERIC) 36.5%, Calix (CALX) 41.6%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, AVNW, ERIC and CALX?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Ericsson Lm Telephone (ERIC) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.