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Viavi Solutions (VIAV) Financials

Viavi Solutions logo
$38.90 +0.34 (+0.88%)
As of 08/21/2026 04:00 PM Eastern
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Annual Income Statements for Viavi Solutions

Annual Income Statements for Viavi Solutions

This table shows Viavi Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 7/2/2016 7/1/2017 6/30/2018 6/29/2019 6/27/2020 7/3/2021 7/2/2022 7/1/2023 6/29/2024 6/28/2025 6/27/2026
Net Income / (Loss) Attributable to Common Shareholders		 -99 160 -49 5.40 49 68 16 26 -26 35 -30
Consolidated Net Income / (Loss)		 -99 160 -49 5.40 49 68 16 26 -26 35 -30
Net Income / (Loss) Continuing Operations		 -50 159 -49 7.80 49 68 16 26 -26 35 -30
Total Pre-Tax Income 		-46 180 -36 39 114 131 65 61 12 39 16
Total Operating Income		 -84 7.00 1.90 67 118 142 185 82 21 58 105
Total Gross Profit		 550 479 488 651 665 714 774 639 576 621 875
Total Revenue		 906 805 876 1,130 1,136 1,199 1,292 1,106 1,000 1,084 1,518
Operating Revenue		 906 805 876 1,130 1,136 1,199 1,292 1,106 1,000 1,084 1,518
Total Cost of Revenue		 357 326 387 479 471 485 519 467 425 463 643
Operating Cost of Revenue		 357 326 387 479 471 485 519 467 425 463 643
Total Operating Expenses		 634 472 487 584 547 572 589 556 555 564 770
Selling, General & Admin Expense		 351 300 324 344 315 338 366 329 333 349 469
Research & Development Expense		 166 136 133 187 194 203 213 207 202 209 263
Amortization Expense		 15 14 21 38 35 33 9.70 8.70 6.30 4.80 23
Restructuring Charge		 11 22 8.30 15 3.50 -1.60 -0.10 12 14 0.70 16
Total Other Income / (Expense), net		 38 173 -38 -28 -3.80 -11 -120 -22 -9.20 -19 -89
Interest Expense		 36 43 47 34 13 15 23 27 31 30 104
Other Income / (Expense), net		 2.50 13 9.70 6.20 9.60 3.30 -97 5.40 22 11 15
Income Tax Expense		 4.50 21 13 32 65 63 50 35 37 4.40 48
Other Gains / (Losses), net		 - - - - - - - 0.00 0.00 0.60 0.80
Basic Earnings per Share		 ($0.42) $0.70 ($0.21) $0.02 $0.21 $0.30 $0.07 $0.11 ($0.12) $0.16 ($0.13)
Weighted Average Basic Shares Outstanding		 234M 229.90M 227.10M 228.10M 229.40M 228.70M 230.90M 224.60M 222.60M 222.50M 229.50M
Diluted Earnings per Share		 ($0.42) $0.68 ($0.21) $0.02 $0.21 $0.29 $0.07 $0.11 ($0.12) $0.15 ($0.13)
Weighted Average Diluted Shares Outstanding		 234M 234.50M 227.10M 231.20M 234.80M 236.30M 238.20M 226.60M 222.60M 225.70M 229.50M
Weighted Average Basic & Diluted Shares Outstanding		 236.20M 228.60M 230M 228.85M 228.32M 228.47M 226.26M 221.50M 221.91M 223.25M 246.75M

Quarterly Income Statements for Viavi Solutions

This table shows Viavi Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025 3/28/2026 6/27/2026
Net Income / (Loss) Attributable to Common Shareholders		 11 -25 -22 -1.80 9.10 20 8.00 -21 -48 6.40 33
Consolidated Net Income / (Loss)		 11 -25 -22 -1.80 9.10 20 8.00 -21 -48 6.40 33
Net Income / (Loss) Continuing Operations		 11 -25 -22 -1.80 9.10 20 8.00 -21 -48 6.40 33
Total Pre-Tax Income 		18 -16 -9.50 7.20 19 3.20 9.60 -2.30 -39 14 44
Total Operating Income		 22 -12 -5.70 12 22 8.50 15 7.60 11 25 61
Total Gross Profit		 148 138 146 136 161 161 164 169 211 234 262
Total Revenue		 255 246 252 238 271 285 291 299 369 407 443
Operating Revenue		 255 246 252 238 271 285 291 299 369 407 443
Total Cost of Revenue		 107 108 106 102 110 124 127 130 159 173 181
Operating Cost of Revenue		 107 108 106 102 110 124 127 130 159 173 181
Total Operating Expenses		 126 150 151 125 139 152 148 161 199 209 200
Selling, General & Admin Expense		 75 98 83 74 84 101 90 104 127 114 124
Research & Development Expense		 50 50 53 49 52 50 57 56 66 71 70
Amortization Expense		 1.40 1.50 1.30 1.10 1.00 1.20 1.50 1.50 6.30 7.40 7.30
Restructuring Charge		 -0.10 0.10 14 0.00 1.20 -0.30 -0.20 -0.30 -0.10 17 -1.00
Total Other Income / (Expense), net		 -4.10 -3.70 -3.80 -4.30 -3.60 -5.30 -5.70 -9.90 -50 -11 -18
Interest Expense		 7.90 7.70 7.50 7.50 7.50 7.50 7.50 11 54 18 21
Other Income / (Expense), net		 3.80 4.00 3.70 3.20 3.90 2.20 1.80 1.30 3.90 7.00 3.10
Income Tax Expense		 7.60 9.00 12 9.00 9.50 -16 2.20 19 9.70 7.40 11
Basic Earnings per Share		 $0.05 ($0.11) ($0.10) ($0.01) $0.04 $0.09 $0.04 ($0.10) ($0.21) $0.03 $0.15
Weighted Average Basic Shares Outstanding		 222.50M 223M 222.60M 222M 222M 222.60M 222.50M 222.90M 223.90M 232M 229.50M
Diluted Earnings per Share		 $0.05 ($0.11) ($0.10) ($0.01) $0.04 $0.09 $0.03 ($0.10) ($0.21) $0.03 $0.15
Weighted Average Diluted Shares Outstanding		 223.50M 223M 222.60M 222M 224.80M 226.90M 225.70M 222.90M 223.90M 249.50M 229.50M
Weighted Average Basic & Diluted Shares Outstanding		 222.57M 223.24M 221.91M 221.81M 222.14M 223.24M 223.25M 223.20M 231.39M 233.91M 246.75M

Annual Cash Flow Statements for Viavi Solutions

This table details how cash moves in and out of Viavi Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 7/2/2016 7/1/2017 6/30/2018 6/29/2019 6/27/2020 7/3/2021 7/2/2022 7/1/2023 6/29/2024 6/28/2025 6/27/2026
Net Change in Cash & Equivalents		 135 521 -398 -94 17 161 -136 -57 -34 -50 228
Net Cash From Operating Activities		 64 94 66 139 136 243 178 114 116 90 114
Net Cash From Continuing Operating Activities		 64 94 66 139 136 243 178 114 116 90 114
Net Income / (Loss) Continuing Operations		 -99 160 -49 5.40 49 68 16 26 -26 35 -30
Consolidated Net Income / (Loss)		 -99 160 -49 5.40 49 68 16 26 -26 35 -30
Depreciation Expense		 38 29 36 40 40 36 36 36 39 38 40
Amortization Expense		 62 64 84 23 1.90 69 2.80 4.20 7.50 12 12
Non-Cash Adjustments To Reconcile Net Income		 67 -158 40 118 118 51 198 98 89 72 205
Changes in Operating Assets and Liabilities, net		 -4.10 -0.70 -45 -47 -74 20 -74 -50 7.50 -67 -113
Net Cash From Investing Activities		 244 114 -287 81 -30 -49 -71 -127 -22 -128 -427
Net Cash From Continuing Investing Activities		 244 114 -287 81 -30 -49 -71 -127 -22 -128 -427
Purchase of Property, Plant & Equipment		 -36 -39 -43 -45 -32 -52 -73 -51 -20 -28 -31
Acquisitions		 -0.90 0.00 -510 -47 -2.50 -0.70 -8.30 -68 0.00 -122 -400
Purchase of Investments		 -422 -679 -383 - - 0.00 0.00 -13 -225 -149 -125
Sale of Property, Plant & Equipment		 6.00 5.90 5.80 5.40 4.60 4.10 9.80 5.10 3.40 5.10 4.00
Sale and/or Maturity of Investments		 683 826 643 167 - - 0.00 0.00 220 168 125
Other Investing Activities, net		 14 - - - - - - 0.00 0.00 -3.00 0.00
Net Cash From Financing Activities		 -159 311 -181 -300 -72 -59 -210 -50 -126 -24 541
Net Cash From Continuing Financing Activities		 -159 311 -181 -300 -72 -59 -210 -50 -126 -24 541
Repayment of Debt		 -5.90 -55 -355 -277 -1.60 -0.10 -161 -72 -96 0.00 -691
Repurchase of Common Equity		 -45 -92 -41 -11 -44 -42 -236 -84 -20 -16 -30
Issuance of Debt		 0.00 460 225 - 0.00 0.00 550 118 0.00 0.20 749
Issuance of Common Equity		 4.50 12 4.90 5.40 5.50 6.60 7.80 7.90 6.30 6.00 582
Other Financing Activities, net		 -113 -14 -15 -17 -31 -23 -372 -20 -16 -13 -69
Other Net Changes in Cash		 - - - -13 -17 - -32 5.80 -2.90 13 -0.40
Cash Interest Paid		 6.60 6.70 11 12 11 12 18 22 24 23 39
Cash Income Taxes Paid		 32 23 24 30 51 37 77 48 31 30 24

Quarterly Cash Flow Statements for Viavi Solutions

This table details how cash moves in and out of Viavi Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025 3/28/2026 6/27/2026
Net Change in Cash & Equivalents		 25 -90 19 -3.70 18 -114 49 120 224 -265 149
Net Cash From Operating Activities		 20 20 26 14 45 7.80 24 31 43 -26 67
Net Cash From Continuing Operating Activities		 20 20 26 14 45 7.80 24 31 43 -26 67
Net Income / (Loss) Continuing Operations		 11 -25 -22 -1.80 9.10 20 8.00 -21 -48 6.40 33
Consolidated Net Income / (Loss)		 11 -25 -22 -1.80 9.10 20 8.00 -21 -48 6.40 33
Depreciation Expense		 9.70 9.60 9.50 9.70 9.80 9.30 9.60 9.80 10 10 10
Amortization Expense		 12 1.80 1.90 1.80 -2.60 3.60 4.40 4.30 4.50 2.20 0.90
Non-Cash Adjustments To Reconcile Net Income		 8.90 17 36 17 21 20 19 27 75 58 46
Changes in Operating Assets and Liabilities, net		 -21 15 0.80 -13 7.80 -44 -17 12 1.40 -103 -23
Net Cash From Investing Activities		 -7.70 -6.90 5.60 -12 -4.30 -125 12 -8.30 -404 -4.70 -9.50
Net Cash From Continuing Investing Activities		 -7.70 -6.90 5.60 -12 -4.30 -125 12 -8.30 -404 -4.70 -9.50
Purchase of Property, Plant & Equipment		 -5.80 -3.20 -3.80 -7.30 -8.20 -6.80 -5.50 -8.50 -5.60 -5.90 -11
Purchase of Investments		 -63 -73 -37 -43 -42 -62 -1.10 -0.90 - -64 -60
Sale of Property, Plant & Equipment		 1.30 0.70 0.80 3.50 0.80 0.40 0.40 0.90 0.60 1.10 1.40
Sale and/or Maturity of Investments		 60 69 45 39 45 62 22 0.90 - 64 61
Net Cash From Financing Activities		 -2.20 -97 -10 -21 -0.90 -1.60 -0.10 98 583 -231 92
Net Cash From Continuing Financing Activities		 -2.20 -97 -10 -21 -0.90 -1.60 -0.10 98 583 -231 92
Repayment of Debt		 - - - 0.00 - - - -7.80 -15 -201 -467
Issuance of Common Equity		 - 3.30 - 2.70 - 3.30 - 2.70 - 3.80 575
Other Financing Activities, net		 -2.20 -3.90 -0.40 -7.30 -1.10 -4.90 -0.10 -16 -2.30 -34 -16
Other Net Changes in Cash		 - -5.10 -2.70 15 - 5.00 13 -0.40 2.90 -2.40 -0.50

Annual Balance Sheets for Viavi Solutions

This table presents Viavi Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 7/2/2016 7/1/2017 6/30/2018 6/29/2019 6/27/2020 7/3/2021 7/2/2022 7/1/2023 6/29/2024 6/28/2025 6/27/2026
Total Assets		 1,678 2,111 2,027 1,815 1,776 1,961 1,828 1,851 1,736 1,994 2,706
Total Current Assets		 1,212 1,667 1,155 917 914 1,112 1,005 945 877 885 1,257
Cash & Equivalents		 483 1,004 611 522 539 698 560 507 471 424 648
Restricted Cash		 12 11 7.30 3.50 3.50 4.30 3.60 4.50 5.00 3.70 6.90
Short-Term Investments		 485 432 169 1.50 1.50 1.60 1.40 15 20 1.70 2.00
Accounts Receivable		 148 120 219 238 236 257 261 231 213 261 351
Inventories, net		 51 48 92 103 83 95 110 116 97 118 155
Prepaid Expenses		 32 51 56 50 51 57 69 72 71 77 93
Plant, Property, & Equipment, net		 133 137 171 180 173 196 229 243 228 232 225
Total Noncurrent Assets		 333 307 701 718 690 653 594 663 632 877 1,225
Goodwill		 152 152 336 381 381 397 388 455 453 596 701
Intangible Assets		 60 31 235 212 148 88 54 59 38 132 378
Noncurrent Deferred & Refundable Income Taxes		 109 110 114 108 105 109 86 87 83 87 75
Other Noncurrent Operating Assets		 13 14 15 17 55 60 66 62 58 62 72
Total Liabilities & Shareholders' Equity		 1,678 2,111 2,027 1,815 1,776 1,961 1,828 1,851 1,736 1,994 2,706
Total Liabilities		 989 1,324 1,292 1,089 1,065 1,198 1,156 1,160 1,055 1,214 1,257
Total Current Liabilities		 226 229 553 284 233 747 369 344 247 590 681
Short-Term Debt		 - 0.00 275 0.00 2.80 457 68 96 0.00 246 245
Accounts Payable		 47 33 56 63 53 63 58 47 50 69 92
Accrued Expenses		 25 31 30 34 23 25 29 21 25 29 27
Current Deferred Revenue		 79 60 61 55 55 70 81 79 66 74 102
Current Employee Benefit Liabilities		 45 44 53 59 51 76 76 51 48 64 98
Other Current Liabilities		 31 61 79 72 48 57 56 50 58 108 116
Total Noncurrent Liabilities		 762 1,095 739 805 832 450 787 816 808 624 577
Long-Term Debt		 583 931 558 579 601 224 617 630 636 396 397
Other Noncurrent Operating Liabilities		 179 164 181 227 231 226 170 187 172 228 180
Commitments & Contingencies		 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 689 786 735 726 711 764 672 691 682 780 1,449
Total Preferred & Common Equity		 689 786 735 726 711 764 672 691 682 780 1,449
Preferred Stock		 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 689 786 735 726 711 764 672 691 682 780 1,449
Common Stock		 70,060 70,185 70,216 70,245 70,275 70,183 70,370 70,428 70,472 70,518 71,253
Retained Earnings		 -69,381 -69,306 -69,379 -69,385 -69,397 -69,322 -69,542 -69,601 -69,647 -69,628 -69,689
Accumulated Other Comprehensive Income / (Loss)		 10 -92 -103 -135 -166 -97 -156 -136 -144 -110 -116

Quarterly Balance Sheets for Viavi Solutions

This table presents Viavi Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 12/31/2022 4/1/2023 9/30/2023 12/30/2023 3/30/2024 9/28/2024 12/28/2024 3/29/2025 9/27/2025 12/27/2025 3/28/2026
Total Assets		 1,828 1,917 1,802 1,856 1,744 1,738 1,725 1,933 2,082 2,778 2,528
Total Current Assets		 912 1,003 916 965 868 864 880 835 990 1,279 1,054
Cash & Equivalents		 484 581 521 544 454 468 488 374 544 766 499
Restricted Cash		 4.20 4.50 3.40 3.10 3.50 4.80 3.40 3.40 3.50 4.70 7.20
Short-Term Investments		 1.40 1.50 21 25 28 25 21 23 1.80 1.90 1.80
Accounts Receivable		 224 220 191 209 212 203 213 253 242 285 320
Inventories, net		 120 126 114 115 103 93 93 116 125 141 148
Prepaid Expenses		 78 70 67 70 66 70 62 66 75 81 78
Plant, Property, & Equipment, net		 245 247 239 237 232 231 226 228 230 227 223
Total Noncurrent Assets		 671 667 647 654 645 643 619 870 862 1,272 1,252
Goodwill		 449 452 450 455 453 461 451 585 592 704 702
Intangible Assets		 72 64 53 48 43 34 29 140 123 419 398
Noncurrent Deferred & Refundable Income Taxes		 88 90 86 90 88 86 81 84 77 79 80
Other Noncurrent Operating Assets		 62 62 59 61 60 62 58 61 69 70 72
Total Liabilities & Shareholders' Equity		 1,828 1,917 1,802 1,856 1,744 1,738 1,725 1,933 2,082 2,778 2,528
Total Liabilities		 1,140 1,235 1,127 1,128 1,039 1,036 1,042 1,204 1,358 1,944 1,681
Total Current Liabilities		 329 413 311 312 228 233 248 545 498 490 653
Short-Term Debt		 68 164 96 96 0.00 - - 245 151 53 245
Accounts Payable		 50 44 40 44 43 47 56 67 67 91 82
Accrued Expenses		 29 28 26 22 36 24 27 26 30 25 28
Current Deferred Revenue		 75 76 67 61 61 64 58 65 64 84 85
Current Employee Benefit Liabilities		 54 41 41 47 42 44 58 56 54 80 73
Other Current Liabilities		 52 60 41 43 46 54 49 87 131 157 141
Total Noncurrent Liabilities		 812 823 816 816 811 803 794 660 861 1,454 1,029
Long-Term Debt		 617 628 631 633 634 638 639 396 641 1,222 836
Other Noncurrent Operating Liabilities		 194 195 185 183 177 165 155 264 220 232 193
Commitments & Contingencies		 - - - - - 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 688 682 675 728 705 702 683 729 724 834 847
Total Preferred & Common Equity		 688 682 675 728 705 702 683 729 724 834 847
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 688 682 675 728 705 702 683 729 724 834 847
Common Stock		 70,389 70,416 70,433 70,445 70,459 70,480 70,493 70,506 70,518 70,670 70,684
Retained Earnings		 -69,545 -69,591 -69,601 -69,590 -69,615 -69,665 -69,656 -69,636 -69,680 -69,728 -69,721
Accumulated Other Comprehensive Income / (Loss)		 -156 -143 -157 -127 -139 -114 -155 -141 -114 -109 -116

Annual Metrics And Ratios for Viavi Solutions

This table displays calculated financial ratios and metrics derived from Viavi Solutions' official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 7/2/2016 7/1/2017 6/30/2018 6/29/2019 6/27/2020 7/3/2021 7/2/2022 7/1/2023 6/29/2024 6/28/2025 6/27/2026
DEI Shares Outstanding		 - - - - - - - - - - 233,907,870.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 233,907,870.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.13
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 3.71% -11.18% 8.78% 29.07% 0.53% 5.51% 7.80% -14.42% -9.56% 8.39% 40.03%
EBITDA Growth		 -81.30% 515.22% 16.34% 3.27% 24.71% 47.46% -49.26% 1.02% -30.89% 33.86% 45.62%
EBIT Growth		 -13.45% 124.57% -42.29% 534.48% 73.51% 13.94% -39.24% -0.68% -51.59% 61.41% 75.51%
NOPAT Growth		 -11.21% 110.45% -78.44% 905.80% 278.48% 44.94% -39.98% -21.41% -233.64% 210.12% -494.88%
Net Income Growth		 -12.60% 261.49% -130.34% 111.11% 807.41% 37.76% -77.04% 64.52% -201.18% 234.88% -187.36%
EPS Growth		 -10.53% 261.90% -130.88% 109.52% 950.00% 38.10% -75.86% 57.14% -209.09% 225.00% -186.67%
Operating Cash Flow Growth		 -21.87% 46.66% -30.01% 110.30% -2.31% 79.42% -26.80% -35.93% 2.02% -22.85% 26.84%
Free Cash Flow Firm Growth		 -65.59% -74.16% -1,856.33% 103.02% 274.77% 79.74% -106.52% -856.46% 135.98% -622.23% -428.35%
Invested Capital Growth		 -36.88% -7.79% 188.93% -0.26% -0.90% -3.92% 6.86% 12.53% -7.80% 20.98% 44.28%
Revenue Q/Q Growth		 0.48% -3.87% 8.55% 2.63% -1.99% 3.84% 1.92% -6.09% -1.15% 3.68% 11.17%
EBITDA Q/Q Growth		 -84.04% 1,641.54% -0.90% -23.47% 40.05% 40.82% -31.48% -28.94% 10.47% 22.39% 53.92%
EBIT Q/Q Growth		 -5,012.50% 123.65% -60.00% 112.10% 12.02% -5.46% 15.40% -27.02% -27.97% 38.59% 64.71%
NOPAT Q/Q Growth		 -272.86% 106.87% -90.21% -30.51% 174.98% -33.14% 527.46% -34.07% -690.88% 433.68% -586.28%
Net Income Q/Q Growth		 -38.94% 87.81% -291.94% 114.88% 237.93% -39.30% 573.91% -39.43% -514.29% 582.35% 44.83%
EPS Q/Q Growth		 -40.00% 88.89% -320.00% 112.50% 250.00% -38.30% 0.00% -45.00% -500.00% 650.00% 48.00%
Operating Cash Flow Q/Q Growth		 -22.34% 8.52% -22.54% 8.61% -0.95% 17.03% 6.58% -30.51% 2.37% -2.60% 60.42%
Free Cash Flow Firm Q/Q Growth		 -76.75% -37.67% 1.84% -75.02% 20.53% 11.54% 89.02% -330.65% -18.61% -13.89% -56.98%
Invested Capital Q/Q Growth		 -28.74% -1.71% -3.29% 1.81% 4.93% -1.45% -3.49% 0.35% -3.75% 2.50% 1.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 60.65% 59.50% 55.77% 57.63% 58.55% 59.59% 59.85% 57.75% 57.57% 57.28% 57.66%
EBITDA Margin		 2.03% 14.06% 15.04% 12.03% 14.93% 20.86% 9.82% 11.59% 8.86% 10.94% 11.37%
Operating Margin		 -9.30% 0.87% 0.22% 5.96% 10.39% 11.86% 14.31% 7.45% 2.08% 5.30% 6.92%
EBIT Margin		 -9.03% 2.50% 1.32% 6.51% 11.24% 12.14% 6.84% 7.94% 4.25% 6.33% 7.93%
Profit (Net Income) Margin		 -10.95% 19.90% -5.55% 0.48% 4.31% 5.63% 1.20% 2.31% -2.58% 3.21% -2.00%
Tax Burden Percent		 216.12% 89.00% 136.13% 13.74% 42.87% 51.61% 23.81% 42.01% -222.41% 90.16% -186.50%
Interest Burden Percent		 56.11% 895.52% -307.76% 53.40% 89.51% 89.90% 73.64% 69.13% 27.29% 56.27% 13.54%
Effective Tax Rate		 0.00% 11.89% 0.00% 80.15% 57.13% 48.39% 76.19% 57.99% 322.41% 11.40% 291.41%
Return on Invested Capital (ROIC)		 -15.60% 2.19% 0.25% 1.72% 6.54% 9.71% 5.75% 4.11% -5.40% 5.61% -16.58%
ROIC Less NNEP Spread (ROIC-NNEP)		 -7.82% -31.55% 21.45% -14.65% 3.63% -22.35% -53.11% -1.58% 6.64% -3.53% 155.32%
Return on Net Nonoperating Assets (RNNOA)		 4.52% 19.52% -6.64% -0.98% 0.28% -0.56% -3.59% -0.37% 1.64% -0.85% 13.85%
Return on Equity (ROE)		 -11.08% 21.71% -6.39% 0.74% 6.82% 9.15% 2.16% 3.74% -3.76% 4.76% -2.73%
Cash Return on Invested Capital (CROIC)		 29.63% 10.29% -96.90% 1.97% 7.44% 13.70% -0.88% -7.68% 2.71% -13.37% -52.83%
Operating Return on Assets (OROA)		 -4.20% 1.06% 0.56% 3.83% 7.11% 7.79% 4.67% 4.77% 2.37% 3.68% 5.12%
Return on Assets (ROA)		 -5.09% 8.46% -2.35% 0.28% 2.73% 3.61% 0.82% 1.39% -1.44% 1.87% -1.29%
Return on Common Equity (ROCE)		 -11.08% 21.71% -6.39% 0.74% 6.82% 9.15% 2.16% 3.74% -3.76% 4.76% -2.73%
Return on Equity Simple (ROE_SIMPLE)		 -14.39% 20.37% -6.61% 0.74% 6.89% 8.84% 2.31% 3.69% -3.79% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -59 6.17 1.33 13 51 73 44 35 -46 51 -201
NOPAT Margin		 -6.51% 0.77% 0.15% 1.18% 4.46% 6.12% 3.41% 3.13% -4.62% 4.70% -13.25%
Net Nonoperating Expense Percent (NNEP)		 -7.77% 33.75% -21.19% 16.36% 2.91% 32.06% 58.86% 5.70% -12.04% 9.14% -171.89%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - 3.58% -9.62%
Cost of Revenue to Revenue		 39.35% 40.50% 44.23% 42.37% 41.45% 40.41% 40.15% 42.25% 42.43% 42.72% 42.34%
SG&A Expenses to Revenue		 38.74% 37.28% 36.99% 30.39% 27.72% 28.15% 28.30% 29.72% 33.32% 32.22% 30.90%
R&D to Revenue		 18.36% 16.93% 15.22% 16.54% 17.04% 16.93% 16.50% 18.71% 20.18% 19.25% 17.30%
Operating Expenses to Revenue		 69.95% 58.63% 55.56% 51.67% 48.16% 47.73% 45.54% 50.30% 55.49% 51.98% 50.73%
Earnings before Interest and Taxes (EBIT)		 -82 20 12 74 128 146 88 88 43 69 120
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 18 113 132 136 170 250 127 128 89 119 173
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.23 3.04 3.15 4.19 4.01 5.23 4.44 3.65 2.25 2.86 7.69
Price to Tangible Book Value (P/TBV)		 3.22 3.96 14.17 22.83 15.67 14.30 12.97 14.24 8.05 42.20 30.09
Price to Revenue (P/Rev)		 1.70 2.97 2.65 2.69 2.51 3.33 2.31 2.28 1.53 2.06 7.34
Price to Earnings (P/E)		 0.00 14.92 0.00 562.82 58.16 59.18 192.41 98.84 0.00 64.15 0.00
Dividend Yield		 66.55% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 6.70% 0.00% 0.18% 1.72% 1.69% 0.52% 1.01% 0.00% 1.56% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 3.89 6.94 3.03 3.97 3.77 5.36 3.92 3.05 2.04 2.46 7.76
Enterprise Value to Revenue (EV/Rev)		 1.26 2.33 2.70 2.74 2.56 3.31 2.40 2.46 1.67 2.26 7.33
Enterprise Value to EBITDA (EV/EBITDA)		 61.98 16.55 17.94 22.73 17.15 15.88 24.45 21.22 18.89 20.62 64.43
Enterprise Value to EBIT (EV/EBIT)		 0.00 93.22 203.68 42.00 22.78 27.29 35.09 30.98 39.38 35.65 92.41
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 303.78 1,776.44 231.11 57.46 54.12 70.43 78.59 0.00 48.01 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.74 19.87 35.80 22.27 21.46 16.32 17.42 23.84 14.38 27.24 97.68
Enterprise Value to Free Cash Flow (EV/FCFF)		 10.17 64.68 0.00 201.05 50.48 38.34 0.00 0.00 72.01 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.85 1.18 1.13 0.80 0.85 0.89 1.02 1.05 0.93 0.82 0.44
Long-Term Debt to Equity		 0.85 1.18 0.76 0.80 0.84 0.29 0.92 0.91 0.93 0.51 0.27
Financial Leverage		 -0.58 -0.62 -0.31 0.07 0.08 0.02 0.07 0.23 0.25 0.24 0.09
Leverage Ratio		 2.18 2.57 2.72 2.63 2.50 2.53 2.64 2.70 2.61 2.55 2.11
Compound Leverage Factor		 1.22 22.99 -8.37 1.40 2.24 2.28 1.94 1.87 0.71 1.44 0.29
Debt to Total Capital		 45.84% 54.22% 53.13% 44.37% 45.91% 47.12% 50.49% 51.23% 48.27% 45.16% 30.71%
Short-Term Debt to Total Capital		 0.00% 0.00% 17.56% 0.00% 0.21% 31.61% 5.04% 6.79% 0.00% 17.31% 11.71%
Long-Term Debt to Total Capital		 45.84% 54.22% 35.58% 44.37% 45.69% 15.51% 45.44% 44.44% 48.27% 27.86% 19.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 54.16% 45.78% 46.87% 55.63% 54.09% 52.88% 49.51% 48.77% 51.73% 54.84% 69.29%
Debt to EBITDA		 31.70 8.23 6.33 4.26 3.56 2.72 5.40 5.66 7.18 5.42 3.72
Net Debt to EBITDA		 -21.55 -4.56 0.34 0.38 0.35 -0.09 0.95 1.56 1.58 1.80 -0.09
Long-Term Debt to EBITDA		 31.70 8.23 4.24 4.26 3.54 0.90 4.86 4.91 7.18 3.34 2.30
Debt to NOPAT		 -9.88 151.01 626.47 43.27 11.92 9.28 15.55 20.96 -13.75 12.61 -3.19
Net Debt to NOPAT		 6.72 -83.73 33.99 3.91 1.18 -0.31 2.72 5.78 -3.02 4.19 0.07
Long-Term Debt to NOPAT		 -9.88 151.01 419.47 43.27 11.87 3.05 14.00 18.19 -13.75 7.78 -1.97
Altman Z-Score		 -55.87 -43.66 -46.04 -50.67 -51.75 -46.40 -50.43 -50.21 -54.19 -46.95 -29.78
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 5.35 7.29 2.09 3.23 3.92 1.49 2.72 2.75 3.55 1.50 1.85
Quick Ratio		 4.93 6.81 1.81 2.68 3.33 1.28 2.23 2.19 2.85 1.16 1.47
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 112 29 -509 15 58 104 -6.75 -65 23 -121 -641
Operating Cash Flow to CapEx		 217.97% 288.38% 179.84% 350.51% 496.70% 506.88% 284.05% 248.04% 722.98% 395.59% 420.30%
Free Cash Flow to Firm to Interest Expense		 3.14 0.67 -10.76 0.45 4.30 7.05 -0.29 -2.38 0.75 -4.05 -6.16
Operating Cash Flow to Interest Expense		 1.80 2.18 1.40 4.05 10.12 16.55 7.64 4.21 3.77 2.99 1.09
Operating Cash Flow Less CapEx to Interest Expense		 0.97 1.43 0.62 2.89 8.08 13.29 4.95 2.51 3.25 2.24 0.83
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.47 0.43 0.42 0.59 0.63 0.64 0.68 0.60 0.56 0.58 0.65
Accounts Receivable Turnover		 6.03 5.99 5.17 4.95 4.80 4.87 5.00 4.50 4.50 4.57 4.96
Inventory Turnover		 6.78 6.56 5.52 4.91 5.06 5.44 5.06 4.13 3.99 4.32 4.71
Fixed Asset Turnover		 6.42 5.97 5.70 6.45 6.45 6.51 6.08 4.69 4.25 4.71 6.65
Accounts Payable Turnover		 8.01 8.19 8.79 8.06 8.09 8.34 8.54 8.86 8.70 7.77 7.99
Days Sales Outstanding (DSO)		 60.55 60.94 70.65 73.67 76.00 74.89 73.06 81.19 81.05 79.80 73.60
Days Inventory Outstanding (DIO)		 53.84 55.65 66.11 74.31 72.07 67.12 72.10 88.34 91.40 84.47 77.55
Days Payable Outstanding (DPO)		 45.55 44.56 41.51 45.31 45.10 43.77 42.73 41.20 41.96 46.96 45.70
Cash Conversion Cycle (CCC)		 68.84 72.02 95.25 102.68 102.97 98.25 102.43 128.33 130.49 117.31 105.45
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 293 270 780 778 771 741 792 891 821 994 1,434
Invested Capital Turnover		 2.40 2.86 1.67 1.45 1.47 1.59 1.69 1.31 1.17 1.19 1.25
Increase / (Decrease) in Invested Capital		 -171 -23 510 -2.00 -7.00 -30 51 99 -70 172 440
Enterprise Value (EV)		 1,140 1,874 2,363 3,092 2,909 3,971 3,102 2,720 1,673 2,446 11,126
Market Capitalization		 1,537 2,390 2,317 3,039 2,850 3,994 2,982 2,520 1,534 2,232 11,141
Book Value per Share		 $2.96 $3.46 $3.25 $3.17 $3.12 $3.34 $2.95 $3.11 $3.05 $3.49 $6.19
Tangible Book Value per Share		 $2.05 $2.66 $0.72 $0.58 $0.80 $1.22 $1.01 $0.80 $0.85 $0.24 $1.58
Total Capital		 1,273 1,718 1,568 1,305 1,315 1,445 1,357 1,417 1,318 1,423 2,090
Total Debt		 583 931 833 579 604 681 685 726 636 643 642
Total Long-Term Debt		 583 931 558 579 601 224 617 630 636 396 397
Net Debt		 -397 -516 45 52 60 -23 120 200 140 214 -15
Capital Expenditures (CapEx)		 30 33 37 40 27 48 63 46 16 23 27
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 5.50 -9.60 89 106 140 118 139 172 133 113 164
Debt-free Net Working Capital (DFNWC)		 985 1,438 877 633 684 821 704 698 629 542 821
Net Working Capital (NWC)		 985 1,438 602 633 681 365 636 602 629 296 576
Net Nonoperating Expense (NNE)		 40 -154 50 7.98 1.63 5.88 29 9.12 -20 16 -171
Net Nonoperating Obligations (NNO)		 -397 -516 45 52 60 -23 120 200 140 214 -15
Total Depreciation and Amortization (D&A)		 100 93 120 62 42 105 39 40 46 50 52
Debt-free, Cash-free Net Working Capital to Revenue		 0.61% -1.19% 10.20% 9.40% 12.29% 9.81% 10.78% 15.56% 13.31% 10.39% 10.81%
Debt-free Net Working Capital to Revenue		 108.72% 178.66% 100.18% 55.99% 60.16% 68.50% 54.49% 63.08% 62.91% 49.96% 54.06%
Net Working Capital to Revenue		 108.72% 178.66% 68.75% 55.99% 59.91% 30.42% 49.20% 54.38% 62.91% 27.25% 37.94%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.42) $0.73 ($0.20) $0.02 $0.13 $0.20 $0.07 $0.11 ($0.12) $0.16 ($0.13)
Adjusted Weighted Average Basic Shares Outstanding		 232.30M 229.90M 227.10M 228.10M 229.40M 228.70M 230.90M 224.60M 222.60M 222.50M 229.50M
Adjusted Diluted Earnings per Share		 ($0.42) $0.71 ($0.20) $0.02 $0.12 $0.20 $0.07 $0.11 ($0.12) $0.15 ($0.13)
Adjusted Weighted Average Diluted Shares Outstanding		 232.30M 234.50M 227.10M 231.20M 233.70M 235.90M 238.20M 226.60M 222.60M 225.70M 229.50M
Adjusted Basic & Diluted Earnings per Share		 ($0.42) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 234M 227.55M 226.71M 228.85M 228.32M 228.47M 226.26M 221.50M 221.91M 223.25M 246.75M
Normalized Net Operating Profit after Tax (NOPAT)		 12 25 7.14 58 85 73 129 66 24 52 85
Normalized NOPAT Margin		 1.36% 3.13% 0.82% 5.13% 7.49% 6.05% 10.01% 5.98% 2.41% 4.76% 5.58%
Pre Tax Income Margin		 -5.06% 22.36% -4.08% 3.48% 10.06% 10.91% 5.04% 5.49% 1.16% 3.56% 1.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -2.29 0.47 0.25 2.15 9.53 9.90 3.79 3.24 1.38 2.29 1.16
NOPAT to Interest Expense		 -1.65 0.14 0.03 0.39 3.78 4.99 1.89 1.28 -1.50 1.70 -1.93
EBIT Less CapEx to Interest Expense		 -3.12 -0.29 -0.53 0.99 7.49 6.63 1.10 1.54 0.85 1.53 0.90
NOPAT Less CapEx to Interest Expense		 -2.48 -0.61 -0.75 -0.76 1.74 1.73 -0.80 -0.42 -2.02 0.94 -2.19
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -44.86% 57.43% -83.95% 207.41% 90.61% 62.52% 1,521.94% 329.02% -77.52% 47.13% -98.68%

Quarterly Metrics And Ratios for Viavi Solutions

This table displays calculated financial ratios and metrics derived from Viavi Solutions' official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025 3/28/2026 6/27/2026
DEI Shares Outstanding		 - - - - - - - - - 231,389,345.00 233,907,870.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 231,389,345.00 233,907,870.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.03 0.14
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -10.54% -0.73% -4.40% -3.91% 6.40% 15.77% 15.28% 25.57% 36.37% 42.84% 52.53%
EBITDA Growth		 40.52% -89.36% 840.00% -19.26% -30.91% 442.03% 230.85% -12.21% -35.78% 43.37% 400.66%
EBIT Growth		 4.38% -192.59% -113.79% -43.89% -0.38% 235.44% 955.00% -39.46% -41.38% 197.20% 276.61%
NOPAT Growth		 28.68% -466.67% -2,064.07% -133.74% -17.07% 721.81% 395.58% 285.04% -26.53% -77.80% 283.55%
Net Income Growth		 27.38% -59.74% -21,600.00% -118.37% -14.95% 179.27% 136.87% -1,088.89% -628.57% -67.18% 308.75%
EPS Growth		 25.00% -57.14% 0.00% -125.00% -20.00% 181.82% 130.00% -900.00% -625.00% -66.67% 400.00%
Operating Cash Flow Growth		 -55.84% 9.55% 11.49% -73.16% 119.12% -60.00% -9.16% 129.63% -4.92% -437.18% 180.25%
Free Cash Flow Firm Growth		 113.70% 137.80% 165.92% 140.04% 682.73% -346.66% -345.01% -995.16% -698.68% -581.61% -145.95%
Invested Capital Growth		 0.23% -3.87% -7.80% -1.89% -8.58% 13.60% 20.98% 14.80% 65.24% 46.40% 44.28%
Revenue Q/Q Growth		 2.66% -3.34% 2.44% -5.48% 13.69% 5.17% 2.00% 2.96% 23.47% 10.15% 8.92%
EBITDA Q/Q Growth		 27.18% -89.13% 168.57% 225.53% 8.82% -29.13% 31.78% -26.05% 29.57% 48.66% 70.65%
EBIT Q/Q Growth		 0.00% -130.15% 74.68% 835.00% 77.55% -59.00% 59.81% -47.95% 71.91% 107.84% 102.52%
NOPAT Q/Q Growth		 53.69% -163.60% 52.10% 27.94% 477.78% 376.89% -77.23% -54.89% 50.00% 44.13% 293.30%
Net Income Q/Q Growth		 9.18% -329.91% 11.79% 91.71% 605.56% 114.29% -58.97% -367.50% -124.77% 113.31% 410.94%
EPS Q/Q Growth		 25.00% -320.00% 9.09% 90.00% 500.00% 125.00% -66.67% -433.33% -110.00% 114.29% 400.00%
Operating Cash Flow Q/Q Growth		 -59.44% -4.41% 34.36% -48.47% 231.11% -82.55% 205.13% 30.25% 37.10% -161.88% 353.61%
Free Cash Flow Firm Q/Q Growth		 133.35% 134.92% 151.29% -79.66% 551.87% -174.03% -149.61% 25.69% -335.97% 15.72% 9.93%
Invested Capital Q/Q Growth		 3.18% -3.60% -3.75% 2.48% -3.86% 19.79% 2.50% -2.75% 38.38% 6.13% 1.01%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 58.15% 56.06% 57.78% 57.14% 59.38% 56.43% 56.28% 56.50% 57.03% 57.55% 59.06%
EBITDA Margin		 18.94% 1.42% 3.73% 12.85% 12.30% 8.29% 10.71% 7.69% 8.07% 10.89% 17.06%
Operating Margin		 8.80% -4.84% -2.26% 4.83% 8.20% 2.98% 5.27% 2.54% 3.09% 6.10% 13.83%
EBIT Margin		 10.29% -3.21% -0.79% 6.17% 9.64% 3.76% 5.89% 2.98% 4.14% 7.82% 14.53%
Profit (Net Income) Margin		 4.20% -10.00% -8.61% -0.76% 3.36% 6.85% 2.75% -7.15% -13.02% 1.57% 7.38%
Tax Burden Percent		 58.47% 157.69% 228.42% -25.00% 48.92% 609.38% 83.33% 930.43% 124.29% 46.38% 75.17%
Interest Burden Percent		 69.85% 197.47% 475.00% 48.98% 71.26% 29.91% 56.14% -25.84% -252.94% 43.40% 67.55%
Effective Tax Rate		 41.53% 0.00% 0.00% 125.00% 51.08% -509.38% 22.92% 0.00% 0.00% 53.62% 26.21%
Return on Invested Capital (ROIC)		 5.90% -3.94% -1.85% -1.41% 4.77% 20.87% 4.85% 2.25% 2.50% 3.23% 12.77%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.54% -13.13% -12.27% -0.74% 3.53% 4.26% 2.70% -11.73% -15.31% 1.98% 0.15%
Return on Net Nonoperating Assets (RNNOA)		 1.13% -3.35% -3.04% -0.17% 0.71% 1.16% 0.65% -3.14% -6.35% 1.02% 0.01%
Return on Equity (ROE)		 7.03% -7.29% -4.89% -1.58% 5.48% 22.02% 5.50% -0.89% -3.85% 4.25% 12.78%
Cash Return on Invested Capital (CROIC)		 0.58% 3.28% 2.71% -177.42% -96.90% -11.69% -13.37% -10.79% -46.40% -34.20% -52.83%
Operating Return on Assets (OROA)		 5.67% -1.78% -0.44% 3.45% 5.42% 2.14% 3.42% 1.78% 2.29% 4.79% 9.39%
Return on Assets (ROA)		 2.31% -5.53% -4.80% -0.42% 1.89% 3.89% 1.60% -4.29% -7.19% 0.96% 4.77%
Return on Common Equity (ROCE)		 7.03% -7.29% -4.89% -1.58% 5.48% 22.02% 5.50% -0.89% -3.85% 4.25% 12.78%
Return on Equity Simple (ROE_SIMPLE)		 0.69% -0.60% 0.00% -5.33% -5.71% 0.70% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 13 -8.33 -3.99 -2.88 11 52 12 5.32 7.98 12 45
NOPAT Margin		 5.15% -3.39% -1.58% -1.21% 4.01% 18.19% 4.06% 1.78% 2.16% 2.83% 10.21%
Net Nonoperating Expense Percent (NNEP)		 1.36% 9.20% 10.42% -0.67% 1.24% 16.61% 2.15% 13.98% 17.82% 1.25% 12.62%
Return On Investment Capital (ROIC_SIMPLE)		 0.90% - - - 0.82% 3.78% 0.83% 0.35% 0.38% 0.60% 2.16%
Cost of Revenue to Revenue		 41.85% 43.94% 42.22% 42.86% 40.62% 43.57% 43.72% 43.50% 42.97% 42.45% 40.94%
SG&A Expenses to Revenue		 29.39% 39.92% 32.98% 31.11% 31.13% 35.57% 30.88% 34.84% 34.42% 27.93% 28.05%
R&D to Revenue		 19.45% 20.33% 20.83% 20.74% 19.24% 17.56% 19.69% 18.72% 17.84% 17.45% 15.75%
Operating Expenses to Revenue		 49.35% 60.89% 60.04% 52.31% 51.18% 53.44% 51.02% 53.96% 53.94% 51.45% 45.23%
Earnings before Interest and Taxes (EBIT)		 26 -7.90 -2.00 15 26 11 17 8.90 15 32 64
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 48 3.50 9.40 31 33 24 31 23 30 44 76
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.08 2.87 2.25 2.85 3.31 3.43 2.86 3.77 4.87 9.47 7.69
Price to Tangible Book Value (P/TBV)		 9.97 9.68 8.05 9.69 11.15 676.02 42.20 324.50 0.00 0.00 30.09
Price to Revenue (P/Rev)		 2.21 2.00 1.53 2.02 2.24 2.39 2.06 2.38 3.27 5.87 7.34
Price to Earnings (P/E)		 447.90 0.00 0.00 0.00 0.00 490.44 64.15 179.33 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.22% 0.00% 0.00% 0.00% 0.00% 0.20% 1.56% 0.56% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.71 2.54 2.04 2.55 2.95 2.83 2.46 3.07 3.41 6.05 7.76
Enterprise Value to Revenue (EV/Rev)		 2.36 2.15 1.67 2.16 2.37 2.62 2.26 2.59 3.67 6.29 7.33
Enterprise Value to EBITDA (EV/EBITDA)		 19.97 27.08 18.89 26.37 35.91 28.30 20.62 25.72 46.20 76.54 64.43
Enterprise Value to EBIT (EV/EBIT)		 37.33 36.80 39.38 69.15 77.17 55.39 35.65 47.27 87.77 117.48 92.41
Enterprise Value to NOPAT (EV/NOPAT)		 335.85 0.00 0.00 0.00 0.00 287.23 48.01 109.63 152.34 207.59 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 21.40 19.10 14.38 26.93 22.95 29.74 27.24 27.66 43.43 120.96 97.68
Enterprise Value to Free Cash Flow (EV/FCFF)		 466.62 76.06 72.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.00 0.90 0.93 0.91 0.94 0.88 0.82 1.09 1.53 1.28 0.44
Long-Term Debt to Equity		 0.87 0.90 0.93 0.91 0.94 0.54 0.51 0.88 1.46 0.99 0.27
Financial Leverage		 0.25 0.26 0.25 0.23 0.20 0.27 0.24 0.27 0.41 0.52 0.09
Leverage Ratio		 2.60 2.64 2.61 2.57 2.54 2.56 2.55 2.68 2.97 2.83 2.11
Compound Leverage Factor		 1.82 5.21 12.41 1.26 1.81 0.77 1.43 -0.69 -7.51 1.23 1.42
Debt to Total Capital		 50.04% 47.36% 48.27% 47.59% 48.35% 46.79% 45.16% 52.23% 60.45% 56.08% 30.71%
Short-Term Debt to Total Capital		 6.61% 0.00% 0.00% 0.00% 0.00% 17.87% 17.31% 9.97% 2.53% 12.69% 11.71%
Long-Term Debt to Total Capital		 43.43% 47.36% 48.27% 47.59% 48.35% 28.92% 27.86% 42.26% 57.92% 43.39% 19.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 49.96% 52.64% 51.73% 52.41% 51.65% 53.21% 54.84% 47.77% 39.55% 43.92% 69.29%
Debt to EBITDA		 6.08 7.91 7.18 7.84 9.63 6.61 5.42 6.86 12.91 9.63 3.72
Net Debt to EBITDA		 1.31 1.85 1.58 1.72 1.91 2.48 1.80 2.10 5.09 5.11 -0.09
Long-Term Debt to EBITDA		 5.27 7.91 7.18 7.84 9.63 4.09 3.34 5.55 12.37 7.45 2.30
Debt to NOPAT		 102.16 -108.45 -13.75 -0.42 -0.71 67.14 12.61 29.24 42.56 26.13 -3.19
Net Debt to NOPAT		 22.04 -25.35 -3.02 -0.09 -0.14 25.21 4.19 8.96 16.79 13.85 0.07
Long-Term Debt to NOPAT		 88.67 -108.45 -13.75 -0.42 -0.71 41.49 7.78 23.66 40.78 20.22 -1.97
Altman Z-Score		 -50.28 -53.71 -54.28 -53.93 -54.16 -48.44 -47.04 -44.80 -33.08 -34.98 -29.85
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.09 3.81 3.55 3.71 3.55 1.53 1.50 1.99 2.61 1.61 1.85
Quick Ratio		 2.49 3.05 2.85 2.99 2.91 1.19 1.16 1.58 2.15 1.26 1.47
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 11 26 66 13 87 -64 -161 -119 -520 -438 -395
Operating Cash Flow to CapEx		 453.33% 780.00% 873.33% 355.26% 604.05% 121.88% 466.67% 407.89% 850.00% -547.92% 687.63%
Free Cash Flow to Firm to Interest Expense		 1.40 3.39 8.73 1.78 11.58 -8.57 -21.40 -10.65 -9.63 -24.35 -18.89
Operating Cash Flow to Interest Expense		 2.58 2.53 3.49 1.80 5.96 1.04 3.17 2.77 0.79 -1.46 3.19
Operating Cash Flow Less CapEx to Interest Expense		 2.01 2.21 3.09 1.29 4.97 0.19 2.49 2.09 0.69 -1.73 2.73
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.55 0.55 0.56 0.56 0.56 0.57 0.58 0.60 0.55 0.61 0.65
Accounts Receivable Turnover		 4.69 4.68 4.50 5.03 4.78 4.50 4.57 5.15 5.00 4.77 4.96
Inventory Turnover		 3.69 3.80 3.99 4.09 4.10 4.03 4.32 4.51 4.62 4.46 4.71
Fixed Asset Turnover		 4.21 4.22 4.25 4.22 4.36 4.55 4.71 4.97 5.49 6.06 6.65
Accounts Payable Turnover		 9.24 10.11 8.70 9.70 8.57 8.07 7.77 8.62 7.34 7.90 7.99
Days Sales Outstanding (DSO)		 77.87 77.92 81.05 72.58 76.37 81.11 79.80 70.93 72.94 76.58 73.60
Days Inventory Outstanding (DIO)		 98.90 96.05 91.40 89.16 88.94 90.55 84.47 80.88 79.03 81.90 77.55
Days Payable Outstanding (DPO)		 39.49 36.11 41.96 37.61 42.57 45.23 46.96 42.36 49.72 46.18 45.70
Cash Conversion Cycle (CCC)		 137.28 137.86 130.49 124.13 122.74 126.43 117.31 109.46 102.25 112.31 105.45
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 885 853 821 842 809 970 994 966 1,337 1,419 1,434
Invested Capital Turnover		 1.15 1.16 1.17 1.17 1.19 1.15 1.19 1.27 1.16 1.14 1.25
Increase / (Decrease) in Invested Capital		 2.00 -34 -70 -16 -76 116 172 125 528 450 440
Enterprise Value (EV)		 2,397 2,171 1,673 2,144 2,385 2,742 2,446 2,968 4,564 8,588 11,126
Market Capitalization		 2,240 2,023 1,534 2,004 2,258 2,501 2,232 2,726 4,061 8,015 11,141
Book Value per Share		 $3.27 $3.17 $3.05 $3.16 $3.08 $3.28 $3.49 $3.24 $3.74 $3.66 $6.19
Tangible Book Value per Share		 $1.01 $0.94 $0.85 $0.93 $0.91 $0.02 $0.24 $0.04 ($1.29) ($1.09) $1.58
Total Capital		 1,457 1,340 1,318 1,340 1,322 1,370 1,423 1,516 2,109 1,927 2,090
Total Debt		 729 634 636 638 639 641 643 792 1,275 1,081 642
Total Long-Term Debt		 633 634 636 638 639 396 396 641 1,222 836 397
Net Debt		 157 148 140 140 127 241 214 243 503 573 -15
Capital Expenditures (CapEx)		 4.50 2.50 3.00 3.80 7.40 6.40 5.10 7.60 5.00 4.80 9.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 178 154 133 133 120 135 113 95 70 138 164
Debt-free Net Working Capital (DFNWC)		 750 640 629 631 632 536 542 644 842 646 821
Net Working Capital (NWC)		 653 640 629 631 632 291 296 493 789 401 576
Net Nonoperating Expense (NNE)		 2.40 16 18 -1.08 1.76 32 3.79 27 56 5.10 13
Net Nonoperating Obligations (NNO)		 157 148 140 140 127 241 214 243 503 573 -15
Total Depreciation and Amortization (D&A)		 22 11 11 16 7.20 13 14 14 15 13 11
Debt-free, Cash-free Net Working Capital to Revenue		 17.53% 15.19% 13.31% 13.46% 11.88% 12.94% 10.39% 8.28% 5.65% 10.08% 10.81%
Debt-free Net Working Capital to Revenue		 73.93% 63.22% 62.91% 63.71% 62.80% 51.20% 49.96% 56.23% 67.73% 47.28% 54.06%
Net Working Capital to Revenue		 64.43% 63.22% 62.91% 63.71% 62.80% 27.80% 27.25% 43.03% 63.44% 29.38% 37.94%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.05 ($0.11) ($0.10) ($0.01) $0.04 $0.09 $0.04 ($0.10) ($0.21) $0.03 $0.15
Adjusted Weighted Average Basic Shares Outstanding		 222.50M 223M 222.60M 222M 222M 222.60M 222.50M 222.90M 223.90M 232M 229.50M
Adjusted Diluted Earnings per Share		 $0.05 ($0.11) ($0.10) ($0.01) $0.04 $0.09 $0.03 ($0.10) ($0.21) $0.03 $0.15
Adjusted Weighted Average Diluted Shares Outstanding		 223.50M 223M 222.60M 222M 224.80M 226.90M 225.70M 222.90M 223.90M 249.50M 229.50M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 222.57M 223.24M 221.91M 221.81M 222.14M 223.24M 223.25M 223.20M 231.39M 233.91M 246.75M
Normalized Net Operating Profit after Tax (NOPAT)		 13 -8.26 6.09 8.05 16 5.74 12 5.11 7.91 29 44
Normalized NOPAT Margin		 5.12% -3.36% 2.42% 3.38% 6.05% 2.02% 4.01% 1.71% 2.14% 7.24% 10.04%
Pre Tax Income Margin		 7.19% -6.34% -3.77% 3.02% 6.87% 1.12% 3.30% -0.77% -10.48% 3.39% 9.82%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 3.32 -1.03 -0.27 1.96 3.48 1.43 2.28 0.79 0.28 1.77 3.08
NOPAT to Interest Expense		 1.66 -1.08 -0.53 -0.38 1.45 6.91 1.57 0.48 0.15 0.64 2.16
EBIT Less CapEx to Interest Expense		 2.75 -1.35 -0.67 1.45 2.49 0.57 1.60 0.12 0.19 1.50 2.62
NOPAT Less CapEx to Interest Expense		 1.09 -1.41 -0.93 -0.89 0.46 6.05 0.89 -0.20 0.06 0.37 1.70
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 1,000.00% -476.19% -77.52% -70.59% -67.69% 517.65% 47.13% 197.37% -71.43% -54.45% -98.68%

Financials Breakdown Chart

Key Financial Trends

Viavi Solutions’ recent financial statements show a significant recovery in operating performance. Revenue increased from $238.2 million in Q1 fiscal 2025 to $443.1 million in Q4 fiscal 2026, while gross margin expanded and the company returned to stronger profitability. However, the balance sheet remains highly leveraged following the acquisition and related financing activity.

  • Revenue momentum has accelerated. Quarterly revenue rose from $290.5 million in Q4 fiscal 2025 to $443.1 million in Q4 fiscal 2026, a roughly 53% increase. Revenue also climbed sequentially throughout fiscal 2026, from $299.1 million in Q1 to $369.3 million in Q2, $406.8 million in Q3 and $443.1 million in Q4.
  • Gross margin improved substantially. Q4 fiscal 2026 gross profit was $261.7 million, representing an estimated 59.1% gross margin. That compares with approximately 56.3% in Q4 fiscal 2025 and 57.6% in Q3 fiscal 2026, indicating better revenue mix, pricing or operating leverage.
  • Operating profitability strengthened. Operating income increased to $61.3 million in Q4 fiscal 2026, or about 13.8% of revenue, compared with $24.8 million in Q3 and $15.3 million in Q4 fiscal 2025. The improvement occurred despite higher selling, general and administrative expenses.
  • Viavi returned to meaningful net income. Q4 fiscal 2026 net income attributable to common shareholders was $32.7 million, or $0.15 per diluted share, versus $6.4 million and $0.03 per share in Q3. This follows losses of $48.1 million in Q2 and $21.4 million in Q1, showing a sharp earnings recovery.
  • Operating cash flow rebounded. Cash flow from operations was $66.7 million in Q4 fiscal 2026, compared with negative $26.3 million in Q3 and $23.8 million in Q4 fiscal 2025. The latest figure also exceeded reported net income, although a substantial portion came from noncash adjustments.
  • Debt declined from the post-acquisition peak. At the end of Q3 fiscal 2026, short- and long-term debt totaled approximately $1.08 billion, down from about $1.27 billion at the end of Q2. The company reported $467.3 million of debt repayment in Q4 and used a large equity issuance to support the balance sheet.
  • Liquidity remains adequate but has weakened. Cash and equivalents fell from $765.5 million at the end of Q2 fiscal 2026 to $499.0 million at the end of Q3. Nevertheless, total current assets of $1.05 billion exceeded current liabilities of $652.5 million, producing an estimated current ratio of about 1.6.
  • The acquisition has materially changed the company’s asset base. Goodwill and intangible assets totaled approximately $1.10 billion at the end of Q3 fiscal 2026, or roughly 44% of total assets. These assets may support future growth, but they also create impairment risk if the acquired operations underperform.
  • Interest expense is a significant earnings burden. Q4 fiscal 2026 interest expense was $20.9 million, up from $7.5 million in Q4 fiscal 2025. Although operating income was strong enough to cover interest in the latest quarter, higher financing costs continue to reduce pretax profitability.
  • Financing activity has increased dilution and leverage risk. Viavi issued $575 million of common equity in Q4 fiscal 2026 while its basic weighted-average share count rose to 229.5 million from 222.5 million in Q4 fiscal 2025. The company also used $600 million of debt financing in Q2 to fund a $399.3 million acquisition, leaving investors exposed to both dilution and elevated debt obligations.

Overall, the operating trend is increasingly positive: revenue growth, gross margins, operating income and operating cash flow all improved sharply by Q4 fiscal 2026. The main risks for investors are whether the acquisition can sustain this growth, whether cash generation remains consistent, and whether Viavi can continue reducing debt without relying on additional equity issuance.

08/23/26 05:40 AM ETAI Generated. May Contain Errors.

Viavi Solutions Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Viavi Solutions' financial year ends in June. Their financial year 2026 ended on June 27, 2026.

Viavi Solutions' net income appears to be on a downward trend, with a most recent value of -$30.40 million in 2026, falling from -$99.20 million in 2016. The previous period was $34.80 million in 2025. View Viavi Solutions' forecast to see where analysts expect Viavi Solutions to go next.

Viavi Solutions' total operating income in 2026 was $105.10 million, based on the following breakdown:
  • Total Gross Profit: $875.40 million
  • Total Operating Expenses: $770.30 million

Over the last 10 years, Viavi Solutions' total revenue changed from $906.30 million in 2016 to $1.52 billion in 2026, a change of 67.5%.

Viavi Solutions' total liabilities were at $1.26 billion at the end of 2026, a 3.6% increase from 2025, and a 27.1% increase since 2016.

In the past 10 years, Viavi Solutions' cash and equivalents has ranged from $423.60 million in 2025 to $1.00 billion in 2017, and is currently $647.80 million as of their latest financial filing in 2026.

Over the last 10 years, Viavi Solutions' book value per share changed from 2.96 in 2016 to 6.19 in 2026, a change of 108.9%.


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Financial statements for NASDAQ:VIAV last updated on 8/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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