A Business at a Glance
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VIASAT INC
VSAT
$9.2B
Mkt Cap
$71.70
-3.46%
VIASAT INC (VSAT) has a 5-year average return on invested capital (ROIC) of 1.3%. This is below average and may indicate limited pricing power.
VIASAT INC (VSAT) has a market capitalization of $9.6B. It is classified as a mid-cap stock.
VIASAT INC (VSAT) does not currently pay a regular dividend.
VIASAT INC (VSAT) operates in the Communications Services, Nec industry, within the Communication Services sector.
VIASAT INC (VSAT) reported annual revenue of $4.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
VIASAT INC (VSAT) has a net profit margin of -12.7%. The company is currently unprofitable.
VIASAT INC (VSAT) generated $908 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
VIASAT INC (VSAT) has a debt-to-equity ratio of 1.58. This indicates higher leverage, which may increase financial risk.
Corporate Information We were incorporated in California in 1986 under the name Viasat, Inc., and subsequently reincorporated in Delaware in 1996. The mailing address of our worldwide headquarters is 6155 El Camino Real, Carlsbad, California 92009, and our telephone number at that location is (760) 476-2200. Our website address is www.viasat.com. The information on our website does not constitute part of this report. Company Overview We are an innovative, global provider of communications technologies and services, focused on making connectivity accessible, available and secure for current and future customers worldwide. By leveraging our own satellite fleet and its advantages, existing national operator partnerships, plus coverage and capacity from leading third-party satellites and constellations, our services are designed to provide customers with the essential capacity density, market access, speed, bandwidth and responsiveness they need.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.6B | 4.5B | 4.3B | 2.6B | 2.4B | 1.9B |
| Net Income | -339M | -575M | -1.1B | 1.1B | -16M | 3.7M |
| EPS | $-2.59 | $-4.48 | $-9.12 | $14.29 | $-0.21 | $0.06 |
| Free Cash Flow | 0 | 908M | 684M | -709M | -433M | -100M |
| ROIC | -0.3% | -0.9% | -11.4% | 19.0% | -0.3% | 0.1% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 2.18 | 1.58 | 1.49 | 0.65 | 0.96 | 0.79 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -45M | -97M | -890M | -156M | -113M | -46M |
| Operating Margin | -1.0% | -2.2% | -20.8% | -6.1% | -4.7% | -2.4% |
| ROE | -7.4% | -12.0% | -24.2% | 33.6% | -0.6% | 0.2% |
| Shares Outstanding | 134M | 128M | 117M | 76M | 74M | 62M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.4B | 1.4B | 1.4B | 1.6B | 1.6B | 2.1B | 2.3B | 1.9B | 2.4B | 2.6B | 4.3B | 4.5B | 4.6B |
| Gross Margin | 57.7% | 62.4% | 65.5% | 66.4% | 65.3% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 61M | 47M | 77M | 130M | 168M | 123M | 130M | 109M | 149M | 129M | 151M | 142M | 157M |
| SG&A | 282M | 271M | 298M | 333M | 385M | 458M | 523M | 497M | 641M | 719M | 1.9B | 1.2B | 1.2B |
| EBIT | 3.3M | 83M | 41M | 36M | -92M | -61M | 38M | -46M | -113M | -156M | -890M | -97M | -45M |
| Op. Margin | 0.2% | 6.0% | 2.9% | 2.3% | -5.8% | -2.9% | 1.7% | -2.4% | -4.7% | -6.1% | -20.8% | -2.2% | -1.0% |
| Net Income | -9.4M | 40M | 22M | 24M | -67M | -68M | N/A | 3.7M | -16M | 1.1B | -1.1B | -575M | -339M |
| Net Margin | -0.7% | 2.9% | 1.5% | 1.5% | -4.2% | -3.3% | N/A | 0.2% | -0.6% | 42.4% | -25.0% | -12.7% | -7.3% |
| Non-Recurring | -34M | -32M | -34M | -35M | -33M | -42M | -46M | -39M | -47M | 1.7B | -975M | -153M | -153M |
| Returns on Capital | |||||||||||||
| ROIC | 0.2% | 3.6% | 2.1% | 1.4% | -2.5% | -2.2% | N/A | 0.1% | -0.3% | 19.0% | -11.4% | -0.9% | -0.3% |
| ROE | -1.0% | 4.1% | 2.0% | 1.7% | -3.8% | -3.6% | N/A | 0.2% | -0.6% | 33.6% | -24.2% | -12.0% | -7.4% |
| ROA | -0.5% | 2.0% | 1.0% | 0.9% | -2.1% | -1.8% | N/A | 0.1% | -0.3% | 15.4% | -8.9% | -3.6% | -2.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 205M | 350M | 297M | 411M | 359M | 328M | 437M | 727M | 506M | 368M | 688M | 908M | 1.6B |
| Free Cash Flow | -102M | -17M | -81M | -103M | -153M | -309M | -257M | -100M | -433M | -709M | 684M | 908M | 0 |
| Owner Earnings | -14M | 89M | 7.4M | 110M | 34M | -71M | 8.2M | 245M | -77M | -217M | -553M | -533M | -3.5B |
| CapEx | 308M | 366M | 378M | 515M | 512M | 637M | 694M | 827M | 938M | 1.1B | 4.6M | 0 | 0 |
| Maint. CapEx | 185M | 221M | 242M | 246M | 256M | 319M | 342M | 397M | 495M | 500M | 1.2B | 1.4B | 5.0B |
| Growth CapEx | 123M | 145M | 136M | 269M | 256M | 318M | 352M | 430M | 443M | 577M | 0 | N/A | 0 |
| D&A | 185M | 221M | 242M | 246M | 256M | 319M | 342M | 397M | 495M | 500M | 1.2B | 1.4B | 5.0B |
| CapEx/OCF | 150.0% | 104.9% | 127.3% | 125.1% | 142.7% | 194.4% | 158.8% | 113.8% | 185.6% | 19.7% | 0.7% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 34M | 39M | 48M | 56M | 69M | 80M | 87M | 85M | 87M | 84M | 84M | 80M | 76M |
| Debt Repayment | 190M | 2.8M | 840K | 6.7M | 575M | 733M | 60M | 421M | 610M | 576M | 567M | 2.4B | 2.4B |
| Balance Sheet | |||||||||||||
| Net Debt | 738M | 754M | 904M | 719M | 952M | 1.2B | 1.6B | 1.6B | 2.2B | 1.1B | 5.6B | 5.6B | 8.6B |
| Cash & Equiv. | 58M | 52M | 42M | 130M | 71M | 262M | 304M | 296M | 310M | 1.3B | 1.9B | 1.6B | 1.3B |
| Long-Term Debt | 690M | 806M | 946M | 848M | 978M | 1.4B | 1.9B | 1.8B | 2.5B | 2.5B | 7.5B | 7.2B | 6.2B |
| Debt/Equity | 0.85 | 0.78 | 0.84 | 0.49 | 0.56 | 0.74 | 0.93 | 0.79 | 0.96 | 0.65 | 1.49 | 1.58 | 2.18 |
| Interest Coverage | 0.1 | 2.6 | 1.6 | 3.0 | -22.9 | -1.2 | 1.0 | -1.4 | -3.8 | -5.8 | -2.2 | -0.2 | -0.2 |
| Equity | 941M | 1.0B | 1.1B | 1.7B | 1.8B | 1.9B | 2.0B | 2.4B | 2.6B | 3.8B | 5.0B | 4.6B | 4.6B |
| Total Assets | 2.0B | 2.1B | 2.4B | 3.0B | 3.4B | 3.9B | 4.9B | 5.3B | 6.4B | 7.7B | 16.3B | 15.4B | 14.9B |
| Total Liabilities | 1.0B | 1.1B | 1.3B | 1.2B | 1.6B | 2.0B | 2.8B | 3.0B | 3.7B | 3.9B | 11.3B | 10.8B | 10.3B |
| Intangibles | 35M | 42M | 34M | 42M | 32M | 22M | 14M | 9.6M | 236M | 201M | 2.5B | 2.3B | 2.1B |
| Retained Earnings | 212M | 252M | 274M | 297M | 286M | 246M | 245M | 249M | 234M | 1.3B | 249M | -326M | -418M |
| Working Capital | 257M | 223M | 242M | 289M | 146M | 402M | 441M | 283M | 389M | 1.3B | 2.2B | 1.2B | 1.4B |
| Current Assets | 532M | 492M | 522M | 615M | 613M | 887M | 1.0B | 991M | 1.2B | 2.2B | 3.5B | 2.9B | 2.6B |
| Current Liabilities | 275M | 268M | 280M | 326M | 466M | 485M | 605M | 708M | 770M | 957M | 1.3B | 1.7B | 1.2B |
| Per Share Data | |||||||||||||
| EPS | -0.21 | 0.84 | 0.44 | 0.45 | -1.15 | -1.13 | 0.00 | 0.06 | -0.21 | 14.29 | -9.12 | -4.48 | -2.59 |
| Owner EPS | -0.30 | 1.85 | 0.15 | 2.08 | 0.59 | -1.18 | N/A | 3.99 | -1.04 | -2.86 | -4.72 | -4.15 | -26.15 |
| Book Value | 20.92 | 21.61 | 22.85 | 32.84 | 31.39 | 31.88 | N/A | 38.22 | 35.61 | 50.38 | 42.88 | 35.48 | 34.06 |
| Cash Flow/Share | 4.56 | 7.27 | 6.01 | 7.79 | 6.13 | 5.47 | N/A | 11.82 | 6.84 | 4.85 | 5.87 | 7.08 | 34.73 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 45.0M | 48.1M | 49.4M | 52.8M | 58.5M | 59.8M | N/A | 61.5M | 74.0M | 75.9M | 117.2M | 128.3M | 134.1M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 70.5 | 164.4 | 139.5 | N/A | N/A | N/A | 827.5 | N/A | 2.1 | N/A | N/A | -27.6 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.1 | 1.5 | N/A |
| EV/EBIT | N/A | 40.4 | 99.8 | 100.8 | N/A | N/A | 92.1 | 72.2 | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 3.3 | 2.7 | 3.2 | 1.9 | 2.1 | 2.4 | 1.4 | 1.3 | 1.4 | 0.6 | 0.4 | 0.3 | 2.1 |
| Price/Sales | 5.0 | 4.4 | 4.1 | 4.4 | 2.5 | 1.9 | 2.3 | 1.1 | 1.5 | 1.1 | 0.8 | 0.4 | 2.1 |
| FCF Yield | -3.3% | -0.6% | -2.3% | -3.1% | -3.9% | -6.7% | -9.2% | -3.3% | -12.0% | -30.7% | 32.2% | 64.8% | N/A |
| Market Cap | 3.1B | 2.8B | 3.6B | 3.3B | 3.9B | 4.6B | 2.8B | 3.1B | 3.6B | 2.3B | 2.1B | 1.4B | 9.6B |
| Avg. Price | 63.50 | 59.93 | 63.12 | 71.19 | 67.69 | 65.95 | 74.46 | 40.11 | 49.66 | 35.55 | 27.41 | 12.90 | 71.70 |
| Year-End Price | 68.02 | 59.20 | 72.35 | 62.77 | 66.60 | 77.52 | 38.66 | 49.65 | 48.86 | 30.45 | 18.09 | 10.92 | 71.70 |
VIASAT INC passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 10.1x vs a median of 2.3x. The company's 5-year average ROIC is 1.3%. At current prices, the estimated annualized return to fair value is +25.6%.
VIASAT INC (VSAT) reported earnings per share (EPS) of $-4.48 in its most recent fiscal year.
VIASAT INC (VSAT) has a return on equity (ROE) of -12.0%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 15 years of financial data for VIASAT INC (VSAT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VIASAT INC (VSAT) has a book value per share of $35.48, based on its most recent annual SEC filing.