Viasat Inc

Communications Services, Nec

VSATStrained5 of 9 basics passed

$71.77

+6.47%

Market cap $9.89B

$71.77

+6.47%

Market cap $9.89B

Viasat Inc an world-wide provider of communications technologies and services, focused on making connectivity accessible, available and secure for current and future customers world-wide. The company has two reportable segments: communication services and defense and advanced technologies.

It is a $9.89B communication services company. Revenue grew 1.3% over the last year, it currently loses money, and its net debt equals ~3.3 years of free cash flow.

Website: viasat.com
Location: Carlsbad, CA
Employees: 7 000
Sector: Communication Services

Moved +6.7% on Oct 9, 20262.3σ — unusual for this stock

Share price · 3 years

$16.40 → $71.77+337.6%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $4.63B
Loss: spends more than it earns; -$29.4M
Free cash flow: cash left after running the business; $1.59B
Net debt: debt minus cash on hand; $5.19B
Shares: up 173% since 2016 — dilution; 134.7M
Volatility: beta vs the market — under 1 swings less; 1.78

Revenue, last 10 years

52-week range

Low $30.35$71.77High $89.81

Today's price is 70% of the way from the year's low to its high.

P/E vs its history4y

1.3×median 6.6×

Higher than 18% of past days — in the cheapest third of its own history.

Valuation vs own history

P/E

1.3×

81%

P/S

2.1×

EV/EBITDA

133.9×

50%

P/B

2.1×

FCF yield

5.8%

49%

Share of the last ~5 years that was pricier than today (pricier than usual). Based on the daily valuation record.

Insider activity · 90 days

-$447Knet selling

Purchases$0

Sales$447K

Insiders trading, last 14d0 buy · 1 sell

Standing in Communication Services

Size$9.89Btop 86%
Revenue growth+22%top 14%
Net margin-1%top 73%
Return on equity-1%top 73%

Ranked against 23 Communication Services companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Growth, Profitability, Health and Moat lag behind.

Valuation70

P/E vs own history18th pct · 25/25
FCF yield16.1% · 25/25
P/S2.1x · 20/25
EV/EBITDA41.0x · 0/25

Growth20

Revenue CAGR13.6% · 20/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growthn/a · 0/25

Profitability10

ROIC2.5% · 5/25
ROE-0.6% · 0/25
Net margin-0.6% · 0/25
Operating margin2.1% · 5/25

Health29

Altman Z0.72 · 3/25
Current ratio1.68 · 18/25
Interest coverage1.7x · 3/25
Net cash / debtD/A 34% · 5/25

Quality72

Piotroski F7/9 · 22/25
Beneish M-2.90 · 25/25
FCF conversionn/a · 0/25
Margin stabilityσ 3.9% · 25/25

Moat13

ROIC >12% years0/11 yrs · 0/25
Median gross margin33.0% · 13/25
FCF-positive years1/11 yrs · 0/25
Worst-year net marginworst -25.0% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2023Financial
Best year on record
$1.08B net income
FY2016Financial
First recorded profitable year
$21.7M net income
FY2016Financial
Revenue already above $1B
$1.42B in first reported year

Achievements

Verifiable track record, straight from the reported numbers.

$10 000 invested in 2021 would be worth ~$13 128 today — price return only

$4.6B revenue in FY2026

7 000 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

Strong cash conversion — FCF is 34.4% of revenue
Piotroski F-Score 7/9 — fundamentally strong checklist

Watch-outs

Not profitable — 0.6% net margin
Altman Z-Score 0.72 — elevated financial-distress risk
Net debt would take ~9.0 years of free cash flow to repay
Thin interest coverage (1.7×)
Loss-making in 7 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

5 of 9 checks passed

Revenue growing — the company sells more than a year ago+1.3% YoY
Profitable — makes more than it spends-$29.4M TTM
Profit growing — earnings are higher than last year+94.1% YoY
Generates cash — cash left after running and investing$1.59B TTM
Debt under control — could handle its obligations~3.3y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$9.89B market cap
Not printing shares — share count not ballooning — you keep your slice+101.1% shares over ~5y
Proven track record — years of profitability behind it4/11 profitable years
Financially stable — balance sheet not near distressAltman Z 0.7 — distress
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsno data

Peer comparisonViasat Inc vs 6 largest communication services peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
VSAT this company	$9.9B	—	+1.3%	-0.6%	Strained
VZ Verizon Communications	$173.7B	10.6	+1.4%	11.6%	Strained
TMUS T-Mobile US, Inc.	$159.6B	15.1	+9.7%	11.5%	Strained
T AT&T Inc.	$152.3B	7.1	+2.6%	16.9%	Strained
WBD Warner Bros. Discovery, Inc. Series A	$77.6B	106.6	-6.1%	-8.8%	Strained
CMCSA Comcast Corp	$73.4B	6.5	+0.6%	9.0%	Strained
ECHO EchoStar Corporation	$27.7B	—	-5.2%	-38.7%	Mixed

Head-to-head: VSAT vs VZ · VSAT vs TMUS · VSAT vs T

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 4Buy 9Hold 4

Appendix · Financial records

The full statements behind this CV, FY2016–FY2026. For readers who want to check the numbers.

Profit & lossRevenue $4.63B · net income -$29.4M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

How FY2026 revenue flows to profit

RevenueNet income

Revenue (TTM)

$4.63B

YoY 1.3%

Net income (TTM)

-$29.4M

Margin -0.6%

Gross margin

33.2%

Operating margin

2.1%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025	2026
Revenue	2.3	2.8	2.6	4.3	4.5	4.6
Gross profit	—	0.7	0.7	1.4	1.5	1.5
Operating income (EBIT)	0.1	-0.1	-0.1	0.0	0.1	0.1
Net income	0.0	-0.0	1.1	-1.1	-0.6	-0.0
EPS (diluted)	0.06	-0.21	14.29	-8.49	-4.48	-0.25

Cash flowFree cash flow $1.59B · operating cash flow $1.59B (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$1.59B

Margin 34.4%

Operating cash flow (TTM)

$1.59B

FCF margin

12.5%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Operating cash flow	0.7	0.5	0.4	0.7	0.9	1.6
Capital expenditure	-0.8	-0.9	-1.1	-1.5	-1.0	-1.0
Free cash flow	-0.1	-0.4	-0.7	-0.9	-0.1	0.6
FCF margin	-4.4%	-15.5%	-27.7%	-19.9%	-2.7%	12.9%

Balance sheetAssets $15.2B · net debt $5.19B (FY2026)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $15.2B of assets is financed

69%

31%

Liabilities $10.5B — borrowed moneyEquity $4.73B — owners' stake

Cash vs debt

Total debt $6.94B − cash $1.75B = net debt $5.19B

Cash on hand covers 25% of debt.

Altman Z-Score

0.72

Distress zone

Debt repayment

9.0 yrs

Years of free cash flow to clear net debt

Interest coverage

1.7x

EBIT ÷ interest expense

ROE

-0.6%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025	2026
Cash & equivalents	0.3	0.3	1.3	1.9	1.6	1.7
Total assets	5.3	6.4	7.7	16.3	15.4	15.2
Total liabilities	3.0	3.7	3.9	11.3	10.8	10.5
Total debt	—	2.9	2.8	7.6	7.5	6.9
Equity	2.4	2.6	3.8	5.1	4.6	4.7
Net debt	—	2.5	1.4	5.7	5.9	5.2

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of VSAT on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $71.77 · market cap $9.89B.