Viavi Solutions (VIAV) Financials

$52.58 -1.05 (-1.95%)

As of 03:07 PM Eastern

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	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
Net Income / (Loss) Attributable to Common Shareholders	-88	-99	160	-49	5.40	49	68	16	26	-26	35
Consolidated Net Income / (Loss)	-88	-99	160	-49	5.40	49	68	16	26	-26	35
Net Income / (Loss) Continuing Operations	-131	-50	159	-49	7.80	49	68	16	26	-26	35
Total Pre-Tax Income	-105	-46	180	-36	39	114	131	65	61	12	39
Total Operating Income	-76	-84	7.00	1.90	67	118	142	185	82	21	58
Total Gross Profit	520	550	479	488	651	665	714	774	639	576	621
Total Revenue	874	906	805	876	1,130	1,136	1,199	1,292	1,106	1,000	1,084
Operating Revenue	874	906	805	876	1,130	1,136	1,199	1,292	1,106	1,000	1,084
Total Cost of Revenue	354	357	326	387	479	471	485	519	467	425	463
Operating Cost of Revenue	354	357	326	387	479	471	485	519	467	425	463
Total Operating Expenses	596	634	472	487	584	547	572	589	556	555	564
Selling, General & Admin Expense	376	351	300	324	344	315	338	366	329	333	349
Research & Development Expense	173	166	136	133	187	194	203	213	207	202	209
Amortization Expense	20	15	14	21	38	35	33	9.70	8.70	6.30	4.80
Restructuring Charge	27	11	22	8.30	15	3.50	-1.60	-0.10	12	14	0.70
Total Other Income / (Expense), net	-30	38	173	-38	-28	-3.80	-11	-120	-22	-9.20	-19
Interest Expense	33	36	43	47	34	13	15	23	27	31	30
Other Income / (Expense), net	3.70	2.50	13	9.70	6.20	9.60	3.30	-97	5.40	22	11
Income Tax Expense	26	4.50	21	13	32	65	63	50	35	37	4.40
Other Gains / (Losses), net	-	-	-	-	-	-	-	-	0.00	0.00	0.60
Basic Earnings per Share	($0.38)	($0.42)	$0.70	($0.21)	$0.02	$0.21	$0.30	$0.07	$0.11	($0.12)	$0.16
Weighted Average Basic Shares Outstanding	232.70M	234M	229.90M	227.10M	228.10M	229.40M	228.70M	230.90M	224.60M	222.60M	222.50M
Diluted Earnings per Share	($0.38)	($0.42)	$0.68	($0.21)	$0.02	$0.21	$0.29	$0.07	$0.11	($0.12)	$0.15
Weighted Average Diluted Shares Outstanding	232.70M	234M	234.50M	227.10M	231.20M	234.80M	236.30M	238.20M	226.60M	222.60M	225.70M
Weighted Average Basic & Diluted Shares Outstanding	232.70M	236.20M	228.60M	230M	228.85M	228.32M	228.47M	226.26M	221.50M	221.91M	223.25M

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	9.80	11	-25	-22	-1.80	9.10	20	8.00	-21	-48	6.40
Consolidated Net Income / (Loss)	9.80	11	-25	-22	-1.80	9.10	20	8.00	-21	-48	6.40
Net Income / (Loss) Continuing Operations	9.80	11	-25	-22	-1.80	9.10	20	8.00	-21	-48	6.40
Total Pre-Tax Income	18	18	-16	-9.50	7.20	19	3.20	9.60	-2.30	-39	14
Total Operating Income	16	22	-12	-5.70	12	22	8.50	15	7.60	11	25
Total Gross Profit	144	148	138	146	136	161	161	164	169	211	234
Total Revenue	248	255	246	252	238	271	285	291	299	369	407
Operating Revenue	248	255	246	252	238	271	285	291	299	369	407
Total Cost of Revenue	104	107	108	106	102	110	124	127	130	159	173
Operating Cost of Revenue	104	107	108	106	102	110	124	127	130	159	173
Total Operating Expenses	128	126	150	151	125	139	152	148	161	199	209
Selling, General & Admin Expense	77	75	98	83	74	84	101	90	104	127	114
Research & Development Expense	50	50	50	53	49	52	50	57	56	66	71
Amortization Expense	2.10	1.40	1.50	1.30	1.10	1.00	1.20	1.50	1.50	6.30	7.40
Restructuring Charge	-0.80	-0.10	0.10	14	0.00	1.20	-0.30	-0.20	-0.30	-0.10	17
Total Other Income / (Expense), net	2.40	-4.10	-3.70	-3.80	-4.30	-3.60	-5.30	-5.70	-9.90	-50	-11
Interest Expense	7.80	7.90	7.70	7.50	7.50	7.50	7.50	7.50	11	54	18
Interest & Investment Income	-	-	-	-	-	-	0.00	-	-	0.30	0.00
Other Income / (Expense), net	10	3.80	4.00	3.70	3.20	3.90	2.20	1.80	1.30	3.90	7.00
Income Tax Expense	8.60	7.60	9.00	12	9.00	9.50	-16	2.20	19	9.70	7.40
Basic Earnings per Share	$0.04	$0.05	($0.11)	($0.10)	($0.01)	$0.04	$0.09	$0.04	($0.10)	($0.21)	$0.03
Weighted Average Basic Shares Outstanding	222M	222.50M	223M	222.60M	222M	222M	222.60M	222.50M	222.90M	223.90M	232M
Diluted Earnings per Share	$0.04	$0.05	($0.11)	($0.10)	($0.01)	$0.04	$0.09	$0.03	($0.10)	($0.21)	$0.03
Weighted Average Diluted Shares Outstanding	224.20M	223.50M	223M	222.60M	222M	224.80M	226.90M	225.70M	222.90M	223.90M	249.50M
Weighted Average Basic & Diluted Shares Outstanding	222.39M	222.57M	223.24M	221.91M	221.81M	222.14M	223.24M	223.25M	223.20M	231.39M	233.91M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	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
Net Change in Cash & Equivalents	51	135	521	-398	-94	17	161	-136	-57	-34	-50
Net Cash From Operating Activities	82	64	94	66	139	136	243	178	114	116	90
Net Cash From Continuing Operating Activities	82	64	94	66	139	136	243	178	114	116	90
Net Income / (Loss) Continuing Operations	-88	-99	160	-49	5.40	49	68	16	26	-26	35
Consolidated Net Income / (Loss)	-88	-99	160	-49	5.40	49	68	16	26	-26	35
Depreciation Expense	81	38	29	36	40	40	36	36	36	39	38
Amortization Expense	90	62	64	84	23	1.90	69	2.80	4.20	7.50	12
Non-Cash Adjustments To Reconcile Net Income	75	67	-158	40	118	118	51	198	98	89	72
Changes in Operating Assets and Liabilities, net	-75	-4.10	-0.70	-45	-47	-74	20	-74	-50	7.50	-67
Net Cash From Investing Activities	-5.80	244	114	-287	81	-30	-49	-71	-127	-22	-128
Net Cash From Continuing Investing Activities	-5.80	244	114	-287	81	-30	-49	-71	-127	-22	-128
Purchase of Property, Plant & Equipment	-102	-36	-39	-43	-45	-32	-52	-73	-51	-20	-28
Acquisitions	0.00	-0.90	0.00	-510	-47	-2.50	-0.70	-8.30	-68	0.00	-122
Purchase of Investments	-563	-422	-679	-383	-	-	0.00	0.00	-13	-225	-149
Sale of Property, Plant & Equipment	6.20	6.00	5.90	5.80	5.40	4.60	4.10	9.80	5.10	3.40	5.10
Sale and/or Maturity of Investments	646	683	826	643	167	-	-	0.00	0.00	220	168
Other Investing Activities, net	6.00	14	-	-	-	-	-	-	0.00	0.00	-3.00
Net Cash From Financing Activities	-7.30	-159	311	-181	-300	-72	-59	-210	-50	-126	-24
Net Cash From Continuing Financing Activities	-7.30	-159	311	-181	-300	-72	-59	-210	-50	-126	-24
Repayment of Debt	-23	-5.90	-55	-355	-277	-1.60	-0.10	-161	-72	-96	0.00
Repurchase of Common Equity	-4.80	-45	-92	-41	-11	-44	-42	-236	-84	-20	-16
Issuance of Debt	0.00	0.00	460	225	-	0.00	0.00	550	118	0.00	0.20
Issuance of Common Equity	21	4.50	12	4.90	5.40	5.50	6.60	7.80	7.90	6.30	6.00
Other Financing Activities, net	0.00	-113	-14	-15	-17	-31	-23	-372	-20	-16	-13
Other Net Changes in Cash	-	-	-	-	-13	-17	-	-32	5.80	-2.90	13
Cash Interest Paid	6.50	6.60	6.70	11	12	11	12	18	22	24	23
Cash Income Taxes Paid	24	32	23	24	30	51	37	77	48	31	30

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	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	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
Net Change in Cash & Equivalents	12	25	-90	19	-3.70	18	-114	49	120	224	-265
Net Cash From Operating Activities	50	20	20	26	14	45	7.80	24	31	43	-26
Net Cash From Continuing Operating Activities	50	20	20	26	14	45	7.80	24	31	43	-26
Net Income / (Loss) Continuing Operations	9.80	11	-25	-22	-1.80	9.10	20	8.00	-21	-48	6.40
Consolidated Net Income / (Loss)	9.80	11	-25	-22	-1.80	9.10	20	8.00	-21	-48	6.40
Depreciation Expense	9.80	9.70	9.60	9.50	9.70	9.80	9.30	9.60	9.80	10	10
Amortization Expense	1.90	12	1.80	1.90	1.80	-2.60	3.60	4.40	4.30	4.50	2.20
Non-Cash Adjustments To Reconcile Net Income	16	8.90	17	36	17	21	20	19	27	75	58
Changes in Operating Assets and Liabilities, net	13	-21	15	0.80	-13	7.80	-44	-17	12	1.40	-103
Net Cash From Investing Activities	-13	-7.70	-6.90	5.60	-12	-4.30	-125	12	-8.30	-404	-4.70
Net Cash From Continuing Investing Activities	-13	-7.70	-6.90	5.60	-12	-4.30	-125	12	-8.30	-404	-4.70
Purchase of Property, Plant & Equipment	-6.70	-5.80	-3.20	-3.80	-7.30	-8.20	-6.80	-5.50	-8.50	-5.60	-5.90
Purchase of Investments	-52	-63	-73	-37	-43	-42	-62	-1.10	-0.90	-	-64
Sale of Property, Plant & Equipment	0.60	1.30	0.70	0.80	3.50	0.80	0.40	0.40	0.90	0.60	1.10
Sale and/or Maturity of Investments	46	60	69	45	39	45	62	22	0.90	-	64
Net Cash From Financing Activities	-16	-2.20	-97	-10	-21	-0.90	-1.60	-0.10	98	583	-231
Net Cash From Continuing Financing Activities	-16	-2.20	-97	-10	-21	-0.90	-1.60	-0.10	98	583	-231
Repayment of Debt	-	-	-	-	0.00	-	-	-	-7.80	-15	-201
Issuance of Common Equity	3.00	-	3.30	-	2.70	-	3.30	-	2.70	-	3.80
Other Financing Activities, net	-9.10	-2.20	-3.90	-0.40	-7.30	-1.10	-4.90	-0.10	-16	-2.30	-34
Other Net Changes in Cash	-9.30	-	-5.10	-2.70	15	-	5.00	13	-0.40	2.90	-2.40

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	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
Total Assets	2,218	1,678	2,111	2,027	1,815	1,776	1,961	1,828	1,851	1,736	1,994
Total Current Assets	1,380	1,212	1,667	1,155	917	914	1,112	1,005	945	877	885
Cash & Equivalents	335	483	1,004	611	522	539	698	560	507	471	424
Restricted Cash	26	12	11	7.30	3.50	3.50	4.30	3.60	4.50	5.00	3.70
Short-Term Investments	465	485	432	169	1.50	1.50	1.60	1.40	15	20	1.70
Accounts Receivable	152	148	120	219	238	236	257	261	231	213	261
Inventories, net	54	51	48	92	103	83	95	110	116	97	118
Prepaid Expenses	38	32	51	56	50	51	57	69	72	71	77
Plant, Property, & Equipment, net	149	133	137	171	180	173	196	229	243	228	232
Total Noncurrent Assets	689	333	307	701	718	690	653	594	663	632	877
Goodwill	256	152	152	336	381	381	397	388	455	453	596
Intangible Assets	91	60	31	235	212	148	88	54	59	38	132
Noncurrent Deferred & Refundable Income Taxes	117	109	110	114	108	105	109	86	87	83	87
Other Noncurrent Operating Assets	21	13	14	15	17	55	60	66	62	58	62
Total Liabilities & Shareholders' Equity	2,218	1,678	2,111	2,027	1,815	1,776	1,961	1,828	1,851	1,736	1,994
Total Liabilities	1,116	989	1,324	1,292	1,089	1,065	1,198	1,156	1,160	1,055	1,214
Total Current Liabilities	376	226	229	553	284	233	747	369	344	247	590
Short-Term Debt	-	-	0.00	275	0.00	2.80	457	68	96	0.00	246
Accounts Payable	42	47	33	56	63	53	63	58	47	50	69
Accrued Expenses	24	25	31	30	34	23	25	29	21	25	29
Current Deferred Revenue	81	79	60	61	55	55	70	81	79	66	74
Current Employee Benefit Liabilities	53	45	44	53	59	51	76	76	51	48	64
Other Current Liabilities	47	31	61	79	72	48	57	56	50	58	108
Total Noncurrent Liabilities	741	762	1,095	739	805	832	450	787	816	808	624
Long-Term Debt	562	583	931	558	579	601	224	617	630	636	396
Other Noncurrent Operating Liabilities	168	179	164	181	227	231	226	170	187	172	228
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	1,101	689	786	735	726	711	764	672	691	682	780
Total Preferred & Common Equity	1,101	689	786	735	726	711	764	672	691	682	780
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	1,101	689	786	735	726	711	764	672	691	682	780
Common Stock	70,023	70,060	70,185	70,216	70,245	70,275	70,183	70,370	70,428	70,472	70,518
Retained Earnings	-68,874	-69,381	-69,306	-69,379	-69,385	-69,397	-69,322	-69,542	-69,601	-69,647	-69,628
Accumulated Other Comprehensive Income / (Loss)	-48	10	-92	-103	-135	-166	-97	-156	-136	-144	-110

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

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	6/27/2015	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.72%	3.71%	-11.18%	8.78%	29.07%	0.53%	5.51%	7.80%	-14.42%	-9.56%	8.39%
EBITDA Growth	-3.34%	-81.30%	515.22%	16.34%	3.27%	24.71%	47.46%	-49.26%	1.02%	-30.89%	33.86%
EBIT Growth	-26.94%	-13.45%	124.57%	-42.29%	534.48%	73.51%	13.94%	-39.24%	-0.68%	-51.59%	61.41%
NOPAT Growth	-36.33%	-11.21%	110.45%	-78.44%	905.80%	278.48%	44.94%	-39.98%	-21.41%	-233.64%	210.12%
Net Income Growth	-394.94%	-12.60%	261.49%	-130.34%	111.11%	807.41%	37.76%	-77.04%	64.52%	-201.18%	234.88%
EPS Growth	-375.00%	-10.53%	261.90%	-130.88%	109.52%	950.00%	38.10%	-75.86%	57.14%	-209.09%	225.00%
Operating Cash Flow Growth	-53.40%	-21.87%	46.66%	-30.01%	110.30%	-2.31%	79.42%	-26.80%	-35.93%	2.02%	-22.85%
Free Cash Flow Firm Growth	237.90%	-65.59%	-74.16%	-1,856.33%	103.02%	274.77%	79.74%	-106.52%	-856.46%	135.98%	-622.23%
Invested Capital Growth	-44.95%	-36.88%	-7.79%	188.93%	-0.26%	-0.90%	-3.92%	6.86%	12.53%	-7.80%	20.98%
Revenue Q/Q Growth	205.13%	0.48%	-3.87%	8.55%	2.63%	-1.99%	3.84%	1.92%	-6.09%	-1.15%	3.68%
EBITDA Q/Q Growth	117.70%	-84.04%	1,641.54%	-0.90%	-23.47%	40.05%	40.82%	-31.48%	-28.94%	10.47%	22.39%
EBIT Q/Q Growth	43.50%	-5,012.50%	123.65%	-60.00%	112.10%	12.02%	-5.46%	15.40%	-27.02%	-27.97%	38.59%
NOPAT Q/Q Growth	40.41%	-272.86%	106.87%	-90.21%	-30.51%	174.98%	-33.14%	527.46%	-34.07%	-690.88%	433.68%
Net Income Q/Q Growth	-20.03%	-38.94%	87.81%	-291.94%	114.88%	237.93%	-39.30%	573.91%	-39.43%	-514.29%	582.35%
EPS Q/Q Growth	-18.75%	-40.00%	88.89%	-320.00%	112.50%	250.00%	-38.30%	0.00%	-45.00%	-500.00%	650.00%
Operating Cash Flow Q/Q Growth	-2.83%	-22.34%	8.52%	-22.54%	8.61%	-0.95%	17.03%	6.58%	-30.51%	2.37%	-2.60%
Free Cash Flow Firm Q/Q Growth	494.65%	-76.75%	-37.67%	1.84%	-75.02%	20.53%	11.54%	89.02%	-330.65%	-18.61%	-13.89%
Invested Capital Q/Q Growth	-45.98%	-28.74%	-1.71%	-3.29%	1.81%	4.93%	-1.45%	-3.49%	0.35%	-3.75%	2.50%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	59.51%	60.65%	59.50%	55.77%	57.63%	58.55%	59.59%	59.85%	57.75%	57.57%	57.28%
EBITDA Margin	11.26%	2.03%	14.06%	15.04%	12.03%	14.93%	20.86%	9.82%	11.59%	8.86%	10.94%
Operating Margin	-8.67%	-9.30%	0.87%	0.22%	5.96%	10.39%	11.86%	14.31%	7.45%	2.08%	5.30%
EBIT Margin	-8.25%	-9.03%	2.50%	1.32%	6.51%	11.24%	12.14%	6.84%	7.94%	4.25%	6.33%
Profit (Net Income) Margin	-10.08%	-10.95%	19.90%	-5.55%	0.48%	4.31%	5.63%	1.20%	2.31%	-2.58%	3.21%
Tax Burden Percent	83.67%	216.12%	89.00%	136.13%	13.74%	42.87%	51.61%	23.81%	42.01%	-222.41%	90.16%
Interest Burden Percent	146.05%	56.11%	895.52%	-307.76%	53.40%	89.51%	89.90%	73.64%	69.13%	27.29%	56.27%
Effective Tax Rate	0.00%	0.00%	11.89%	0.00%	80.15%	57.13%	48.39%	76.19%	57.99%	322.41%	11.40%
Return on Invested Capital (ROIC)	-8.12%	-15.60%	2.19%	0.25%	1.72%	6.54%	9.71%	5.75%	4.11%	-5.40%	5.61%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.99%	-7.82%	-31.55%	21.45%	-14.65%	3.63%	-22.35%	-53.11%	-1.58%	6.64%	-3.53%
Return on Net Nonoperating Assets (RNNOA)	0.42%	4.52%	19.52%	-6.64%	-0.98%	0.28%	-0.56%	-3.59%	-0.37%	1.64%	-0.85%
Return on Equity (ROE)	-7.70%	-11.08%	21.71%	-6.39%	0.74%	6.82%	9.15%	2.16%	3.74%	-3.76%	4.76%
Cash Return on Invested Capital (CROIC)	49.86%	29.63%	10.29%	-96.90%	1.97%	7.44%	13.70%	-0.88%	-7.68%	2.71%	-13.37%
Operating Return on Assets (OROA)	-3.16%	-4.20%	1.06%	0.56%	3.83%	7.11%	7.79%	4.67%	4.77%	2.37%	3.68%
Return on Assets (ROA)	-3.86%	-5.09%	8.46%	-2.35%	0.28%	2.73%	3.61%	0.82%	1.39%	-1.44%	1.87%
Return on Common Equity (ROCE)	-7.70%	-11.08%	21.71%	-6.39%	0.74%	6.82%	9.15%	2.16%	3.74%	-3.76%	4.76%
Return on Equity Simple (ROE_SIMPLE)	-8.00%	-14.39%	20.37%	-6.61%	0.74%	6.89%	8.84%	2.31%	3.69%	-3.79%	0.00%
Net Operating Profit after Tax (NOPAT)	-53	-59	6.17	1.33	13	51	73	44	35	-46	51
NOPAT Margin	-6.07%	-6.51%	0.77%	0.15%	1.18%	4.46%	6.12%	3.41%	3.13%	-4.62%	4.70%
Net Nonoperating Expense Percent (NNEP)	-7.13%	-7.77%	33.75%	-21.19%	16.36%	2.91%	32.06%	58.86%	5.70%	-12.04%	9.14%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	3.58%
Cost of Revenue to Revenue	40.49%	39.35%	40.50%	44.23%	42.37%	41.45%	40.41%	40.15%	42.25%	42.43%	42.72%
SG&A Expenses to Revenue	43.06%	38.74%	37.28%	36.99%	30.39%	27.72%	28.15%	28.30%	29.72%	33.32%	32.22%
R&D to Revenue	19.83%	18.36%	16.93%	15.22%	16.54%	17.04%	16.93%	16.50%	18.71%	20.18%	19.25%
Operating Expenses to Revenue	68.19%	69.95%	58.63%	55.56%	51.67%	48.16%	47.73%	45.54%	50.30%	55.49%	51.98%
Earnings before Interest and Taxes (EBIT)	-72	-82	20	12	74	128	146	88	88	43	69
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	98	18	113	132	136	170	250	127	128	89	119
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.50	2.23	3.04	3.15	4.19	4.01	5.23	4.44	3.65	2.25	2.86
Price to Tangible Book Value (P/TBV)	2.18	3.22	3.96	14.17	22.83	15.67	14.30	12.97	14.24	8.05	42.20
Price to Revenue (P/Rev)	1.89	1.70	2.97	2.65	2.69	2.51	3.33	2.31	2.28	1.53	2.06
Price to Earnings (P/E)	0.00	0.00	14.92	0.00	562.82	58.16	59.18	192.41	98.84	0.00	64.15
Dividend Yield	0.00%	66.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	6.70%	0.00%	0.18%	1.72%	1.69%	0.52%	1.01%	0.00%	1.56%
Enterprise Value to Invested Capital (EV/IC)	2.99	3.89	6.94	3.03	3.97	3.77	5.36	3.92	3.05	2.04	2.46
Enterprise Value to Revenue (EV/Rev)	1.59	1.26	2.33	2.70	2.74	2.56	3.31	2.40	2.46	1.67	2.26
Enterprise Value to EBITDA (EV/EBITDA)	14.08	61.98	16.55	17.94	22.73	17.15	15.88	24.45	21.22	18.89	20.62
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	93.22	203.68	42.00	22.78	27.29	35.09	30.98	39.38	35.65
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	303.78	1,776.44	231.11	57.46	54.12	70.43	78.59	0.00	48.01
Enterprise Value to Operating Cash Flow (EV/OCF)	16.83	17.74	19.87	35.80	22.27	21.46	16.32	17.42	23.84	14.38	27.24
Enterprise Value to Free Cash Flow (EV/FCFF)	4.25	10.17	64.68	0.00	201.05	50.48	38.34	0.00	0.00	72.01	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.51	0.85	1.18	1.13	0.80	0.85	0.89	1.02	1.05	0.93	0.82
Long-Term Debt to Equity	0.51	0.85	1.18	0.76	0.80	0.84	0.29	0.92	0.91	0.93	0.51
Financial Leverage	-0.43	-0.58	-0.62	-0.31	0.07	0.08	0.02	0.07	0.23	0.25	0.24
Leverage Ratio	2.00	2.18	2.57	2.72	2.63	2.50	2.53	2.64	2.70	2.61	2.55
Compound Leverage Factor	2.92	1.22	22.99	-8.37	1.40	2.24	2.28	1.94	1.87	0.71	1.44
Debt to Total Capital	33.77%	45.84%	54.22%	53.13%	44.37%	45.91%	47.12%	50.49%	51.23%	48.27%	45.16%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	17.56%	0.00%	0.21%	31.61%	5.04%	6.79%	0.00%	17.31%
Long-Term Debt to Total Capital	33.77%	45.84%	54.22%	35.58%	44.37%	45.69%	15.51%	45.44%	44.44%	48.27%	27.86%
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	66.23%	54.16%	45.78%	46.87%	55.63%	54.09%	52.88%	49.51%	48.77%	51.73%	54.84%
Debt to EBITDA	5.71	31.70	8.23	6.33	4.26	3.56	2.72	5.40	5.66	7.18	5.42
Net Debt to EBITDA	-2.68	-21.55	-4.56	0.34	0.38	0.35	-0.09	0.95	1.56	1.58	1.80
Long-Term Debt to EBITDA	5.71	31.70	8.23	4.24	4.26	3.54	0.90	4.86	4.91	7.18	3.34
Debt to NOPAT	-10.58	-9.88	151.01	626.47	43.27	11.92	9.28	15.55	20.96	-13.75	12.61
Net Debt to NOPAT	4.98	6.72	-83.73	33.99	3.91	1.18	-0.31	2.72	5.78	-3.02	4.19
Long-Term Debt to NOPAT	-10.58	-9.88	151.01	419.47	43.27	11.87	3.05	14.00	18.19	-13.75	7.78
Altman Z-Score	-41.76	-55.87	-43.66	-46.04	-50.67	-51.75	-46.40	-50.43	-50.21	-54.19	-46.95
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	3.68	5.35	7.29	2.09	3.23	3.92	1.49	2.72	2.75	3.55	1.50
Quick Ratio	2.53	4.93	6.81	1.81	2.68	3.33	1.28	2.23	2.19	2.85	1.16
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	326	112	29	-509	15	58	104	-6.75	-65	23	-121
Operating Cash Flow to CapEx	86.36%	217.97%	288.38%	179.84%	350.51%	496.70%	506.88%	284.05%	248.04%	722.98%	395.59%
Free Cash Flow to Firm to Interest Expense	9.78	3.14	0.67	-10.76	0.45	4.30	7.05	-0.29	-2.38	0.75	-4.05
Operating Cash Flow to Interest Expense	2.47	1.80	2.18	1.40	4.05	10.12	16.55	7.64	4.21	3.77	2.99
Operating Cash Flow Less CapEx to Interest Expense	-0.39	0.97	1.43	0.62	2.89	8.08	13.29	4.95	2.51	3.25	2.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.47	0.43	0.42	0.59	0.63	0.64	0.68	0.60	0.56	0.58
Accounts Receivable Turnover	3.90	6.03	5.99	5.17	4.95	4.80	4.87	5.00	4.50	4.50	4.57
Inventory Turnover	3.42	6.78	6.56	5.52	4.91	5.06	5.44	5.06	4.13	3.99	4.32
Fixed Asset Turnover	3.99	6.42	5.97	5.70	6.45	6.45	6.51	6.08	4.69	4.25	4.71
Accounts Payable Turnover	3.95	8.01	8.19	8.79	8.06	8.09	8.34	8.54	8.86	8.70	7.77
Days Sales Outstanding (DSO)	93.66	60.55	60.94	70.65	73.67	76.00	74.89	73.06	81.19	81.05	79.80
Days Inventory Outstanding (DIO)	106.83	53.84	55.65	66.11	74.31	72.07	67.12	72.10	88.34	91.40	84.47
Days Payable Outstanding (DPO)	92.38	45.55	44.56	41.51	45.31	45.10	43.77	42.73	41.20	41.96	46.96
Cash Conversion Cycle (CCC)	108.11	68.84	72.02	95.25	102.68	102.97	98.25	102.43	128.33	130.49	117.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	464	293	270	780	778	771	741	792	891	821	994
Invested Capital Turnover	1.34	2.40	2.86	1.67	1.45	1.47	1.59	1.69	1.31	1.17	1.19
Increase / (Decrease) in Invested Capital	-379	-171	-23	510	-2.00	-7.00	-30	51	99	-70	172
Enterprise Value (EV)	1,385	1,140	1,874	2,363	3,092	2,909	3,971	3,102	2,720	1,673	2,446
Market Capitalization	1,649	1,537	2,390	2,317	3,039	2,850	3,994	2,982	2,520	1,534	2,232
Book Value per Share	$4.70	$2.96	$3.46	$3.25	$3.17	$3.12	$3.34	$2.95	$3.11	$3.05	$3.49
Tangible Book Value per Share	$3.23	$2.05	$2.66	$0.72	$0.58	$0.80	$1.22	$1.01	$0.80	$0.85	$0.24
Total Capital	1,663	1,273	1,718	1,568	1,305	1,315	1,445	1,357	1,417	1,318	1,423
Total Debt	562	583	931	833	579	604	681	685	726	636	643
Total Long-Term Debt	562	583	931	558	579	601	224	617	630	636	396
Net Debt	-264	-397	-516	45	52	60	-23	120	200	140	214
Capital Expenditures (CapEx)	95	30	33	37	40	27	48	63	46	16	23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	179	5.50	-9.60	89	106	140	118	139	172	133	113
Debt-free Net Working Capital (DFNWC)	1,005	985	1,438	877	633	684	821	704	698	629	542
Net Working Capital (NWC)	1,005	985	1,438	602	633	681	365	636	602	629	296
Net Nonoperating Expense (NNE)	35	40	-154	50	7.98	1.63	5.88	29	9.12	-20	16
Net Nonoperating Obligations (NNO)	-638	-397	-516	45	52	60	-23	120	200	140	214
Total Depreciation and Amortization (D&A)	171	100	93	120	62	42	105	39	40	46	50
Debt-free, Cash-free Net Working Capital to Revenue	20.48%	0.61%	-1.19%	10.20%	9.40%	12.29%	9.81%	10.78%	15.56%	13.31%	10.39%
Debt-free Net Working Capital to Revenue	114.96%	108.72%	178.66%	100.18%	55.99%	60.16%	68.50%	54.49%	63.08%	62.91%	49.96%
Net Working Capital to Revenue	114.96%	108.72%	178.66%	68.75%	55.99%	59.91%	30.42%	49.20%	54.38%	62.91%	27.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.42)	$0.73	($0.20)	$0.02	$0.13	$0.20	$0.07	$0.11	($0.12)	$0.16
Adjusted Weighted Average Basic Shares Outstanding	0.00	232.30M	229.90M	227.10M	228.10M	229.40M	228.70M	230.90M	224.60M	222.60M	222.50M
Adjusted Diluted Earnings per Share	$0.00	($0.42)	$0.71	($0.20)	$0.02	$0.12	$0.20	$0.07	$0.11	($0.12)	$0.15
Adjusted Weighted Average Diluted Shares Outstanding	0.00	232.30M	234.50M	227.10M	231.20M	233.70M	235.90M	238.20M	226.60M	222.60M	225.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.42)	$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	0.00	234M	227.55M	226.71M	228.85M	228.32M	228.47M	226.26M	221.50M	221.91M	223.25M
Normalized Net Operating Profit after Tax (NOPAT)	-34	12	25	7.14	58	85	73	129	66	24	52
Normalized NOPAT Margin	-3.92%	1.36%	3.13%	0.82%	5.13%	7.49%	6.05%	10.01%	5.98%	2.41%	4.76%
Pre Tax Income Margin	-12.05%	-5.06%	22.36%	-4.08%	3.48%	10.06%	10.91%	5.04%	5.49%	1.16%	3.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.17	-2.29	0.47	0.25	2.15	9.53	9.90	3.79	3.24	1.38	2.29
NOPAT to Interest Expense	-1.59	-1.65	0.14	0.03	0.39	3.78	4.99	1.89	1.28	-1.50	1.70
EBIT Less CapEx to Interest Expense	-5.03	-3.12	-0.29	-0.53	0.99	7.49	6.63	1.10	1.54	0.85	1.53
NOPAT Less CapEx to Interest Expense	-4.46	-2.48	-0.61	-0.75	-0.76	1.74	1.73	-0.80	-0.42	-2.02	0.94
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	-5.45%	-44.86%	57.43%	-83.95%	207.41%	90.61%	62.52%	1,521.94%	329.02%	-77.52%	47.13%

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

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2023	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
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	231,389,345.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	231,389,345.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.03
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-20.08%	-10.54%	-0.73%	-4.40%	-3.91%	6.40%	15.77%	15.28%	25.57%	36.37%	42.84%
EBITDA Growth	-36.83%	40.52%	-89.36%	840.00%	-19.26%	-30.91%	442.03%	230.85%	-12.21%	-35.78%	43.37%
EBIT Growth	-48.53%	4.38%	-192.59%	-113.79%	-43.89%	-0.38%	235.44%	955.00%	-39.46%	-41.38%	197.20%
NOPAT Growth	-76.48%	28.68%	-466.67%	-2,064.07%	-133.74%	-17.07%	721.81%	395.58%	285.04%	-26.53%	-77.80%
Net Income Growth	-69.94%	27.38%	-59.74%	-21,600.00%	-118.37%	-14.95%	179.27%	136.87%	-1,088.89%	-628.57%	-67.18%
EPS Growth	-71.43%	25.00%	-57.14%	0.00%	-125.00%	-20.00%	181.82%	130.00%	-900.00%	-625.00%	-66.67%
Operating Cash Flow Growth	89.10%	-55.84%	9.55%	11.49%	-73.16%	119.12%	-60.00%	-9.16%	129.63%	-4.92%	-437.18%
Free Cash Flow Firm Growth	21.44%	113.70%	137.80%	165.92%	140.04%	682.73%	-346.66%	-345.01%	-995.16%	-698.68%	-581.61%
Invested Capital Growth	5.12%	0.23%	-3.87%	-7.80%	-1.89%	-8.58%	13.60%	20.98%	14.80%	65.24%	46.40%
Revenue Q/Q Growth	-5.96%	2.66%	-3.34%	2.44%	-5.48%	13.69%	5.17%	2.00%	2.96%	23.47%	10.15%
EBITDA Q/Q Growth	3,690.00%	27.18%	-89.13%	168.57%	225.53%	8.82%	-29.13%	31.78%	-26.05%	29.57%	48.66%
EBIT Q/Q Growth	80.69%	0.00%	-130.15%	74.68%	835.00%	77.55%	-59.00%	59.81%	-47.95%	71.91%	107.84%
NOPAT Q/Q Growth	4,721.96%	53.69%	-163.60%	52.10%	27.94%	477.78%	376.89%	-77.23%	-54.89%	50.00%	44.13%
Net Income Q/Q Growth	9,900.00%	9.18%	-329.91%	11.79%	91.71%	605.56%	114.29%	-58.97%	-367.50%	-124.77%	113.31%
EPS Q/Q Growth	0.00%	25.00%	-320.00%	9.09%	90.00%	500.00%	125.00%	-66.67%	-433.33%	-110.00%	114.29%
Operating Cash Flow Q/Q Growth	114.04%	-59.44%	-4.41%	34.36%	-48.47%	231.11%	-82.55%	205.13%	30.25%	37.10%	-161.88%
Free Cash Flow Firm Q/Q Growth	66.52%	133.35%	134.92%	151.29%	-79.66%	551.87%	-174.03%	-149.61%	25.69%	-335.97%	15.72%
Invested Capital Q/Q Growth	-3.69%	3.18%	-3.60%	-3.75%	2.48%	-3.86%	19.79%	2.50%	-2.75%	38.38%	6.13%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	58.25%	58.15%	56.06%	57.78%	57.14%	59.38%	56.43%	56.28%	56.50%	57.03%	57.55%
EBITDA Margin	15.29%	18.94%	1.42%	3.73%	12.85%	12.30%	8.29%	10.71%	7.69%	8.07%	10.89%
Operating Margin	6.45%	8.80%	-4.84%	-2.26%	4.83%	8.20%	2.98%	5.27%	2.54%	3.09%	6.10%
EBIT Margin	10.57%	10.29%	-3.21%	-0.79%	6.17%	9.64%	3.76%	5.89%	2.98%	4.14%	7.82%
Profit (Net Income) Margin	3.95%	4.20%	-10.00%	-8.61%	-0.76%	3.36%	6.85%	2.75%	-7.15%	-13.02%	1.57%
Tax Burden Percent	53.26%	58.47%	157.69%	228.42%	-25.00%	48.92%	609.38%	83.33%	930.43%	124.29%	46.38%
Interest Burden Percent	70.23%	69.85%	197.47%	475.00%	48.98%	71.26%	29.91%	56.14%	-25.84%	-252.94%	43.40%
Effective Tax Rate	46.74%	41.53%	0.00%	0.00%	125.00%	51.08%	-509.38%	22.92%	0.00%	0.00%	53.62%
Return on Invested Capital (ROIC)	4.29%	5.90%	-3.94%	-1.85%	-1.41%	4.77%	20.87%	4.85%	2.25%	2.50%	3.23%
ROIC Less NNEP Spread (ROIC-NNEP)	5.02%	4.54%	-13.13%	-12.27%	-0.74%	3.53%	4.26%	2.70%	-11.73%	-15.31%	1.98%
Return on Net Nonoperating Assets (RNNOA)	1.33%	1.13%	-3.35%	-3.04%	-0.17%	0.71%	1.16%	0.65%	-3.14%	-6.35%	1.02%
Return on Equity (ROE)	5.61%	7.03%	-7.29%	-4.89%	-1.58%	5.48%	22.02%	5.50%	-0.89%	-3.85%	4.25%
Cash Return on Invested Capital (CROIC)	-4.54%	0.58%	3.28%	2.71%	-177.42%	-96.90%	-11.69%	-13.37%	-10.79%	-46.40%	-34.20%
Operating Return on Assets (OROA)	6.19%	5.67%	-1.78%	-0.44%	3.45%	5.42%	2.14%	3.42%	1.78%	2.29%	4.79%
Return on Assets (ROA)	2.31%	2.31%	-5.53%	-4.80%	-0.42%	1.89%	3.89%	1.60%	-4.29%	-7.19%	0.96%
Return on Common Equity (ROCE)	5.61%	7.03%	-7.29%	-4.89%	-1.58%	5.48%	22.02%	5.50%	-0.89%	-3.85%	4.25%
Return on Equity Simple (ROE_SIMPLE)	0.40%	0.69%	-0.60%	0.00%	-5.33%	-5.71%	0.70%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	8.52	13	-8.33	-3.99	-2.88	11	52	12	5.32	7.98	12
NOPAT Margin	3.44%	5.15%	-3.39%	-1.58%	-1.21%	4.01%	18.19%	4.06%	1.78%	2.16%	2.83%
Net Nonoperating Expense Percent (NNEP)	-0.73%	1.36%	9.20%	10.42%	-0.67%	1.24%	16.61%	2.15%	13.98%	17.82%	1.25%
Return On Investment Capital (ROIC_SIMPLE)	-	0.90%	-	-	-	0.82%	3.78%	0.83%	0.35%	0.38%	0.60%
Cost of Revenue to Revenue	41.75%	41.85%	43.94%	42.22%	42.86%	40.62%	43.57%	43.72%	43.50%	42.97%	42.45%
SG&A Expenses to Revenue	31.14%	29.39%	39.92%	32.98%	31.11%	31.13%	35.57%	30.88%	34.84%	34.42%	27.93%
R&D to Revenue	20.13%	19.45%	20.33%	20.83%	20.74%	19.24%	17.56%	19.69%	18.72%	17.84%	17.45%
Operating Expenses to Revenue	51.80%	49.35%	60.89%	60.04%	52.31%	51.18%	53.44%	51.02%	53.96%	53.94%	51.45%
Earnings before Interest and Taxes (EBIT)	26	26	-7.90	-2.00	15	26	11	17	8.90	15	32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	38	48	3.50	9.40	31	33	24	31	23	30	44
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.00	3.08	2.87	2.25	2.85	3.31	3.43	2.86	3.77	4.87	9.47
Price to Tangible Book Value (P/TBV)	11.72	9.97	9.68	8.05	9.69	11.15	676.02	42.20	324.50	0.00	0.00
Price to Revenue (P/Rev)	1.94	2.21	2.00	1.53	2.02	2.24	2.39	2.06	2.38	3.27	5.87
Price to Earnings (P/E)	749.80	447.90	0.00	0.00	0.00	0.00	490.44	64.15	179.33	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	0.13%	0.22%	0.00%	0.00%	0.00%	0.00%	0.20%	1.56%	0.56%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.57	2.71	2.54	2.04	2.55	2.95	2.83	2.46	3.07	3.41	6.05
Enterprise Value to Revenue (EV/Rev)	2.11	2.36	2.15	1.67	2.16	2.37	2.62	2.26	2.59	3.67	6.29
Enterprise Value to EBITDA (EV/EBITDA)	20.80	19.97	27.08	18.89	26.37	35.91	28.30	20.62	25.72	46.20	76.54
Enterprise Value to EBIT (EV/EBIT)	34.98	37.33	36.80	39.38	69.15	77.17	55.39	35.65	47.27	87.77	117.48
Enterprise Value to NOPAT (EV/NOPAT)	576.96	335.85	0.00	0.00	0.00	0.00	287.23	48.01	109.63	152.34	207.59
Enterprise Value to Operating Cash Flow (EV/OCF)	16.02	21.40	19.10	14.38	26.93	22.95	29.74	27.24	27.66	43.43	120.96
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	466.62	76.06	72.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.08	1.00	0.90	0.93	0.91	0.94	0.88	0.82	1.09	1.53	1.28
Long-Term Debt to Equity	0.93	0.87	0.90	0.93	0.91	0.94	0.54	0.51	0.88	1.46	0.99
Financial Leverage	0.26	0.25	0.26	0.25	0.23	0.20	0.27	0.24	0.27	0.41	0.52
Leverage Ratio	2.70	2.60	2.64	2.61	2.57	2.54	2.56	2.55	2.68	2.97	2.83
Compound Leverage Factor	1.89	1.82	5.21	12.41	1.26	1.81	0.77	1.43	-0.69	-7.51	1.23
Debt to Total Capital	51.86%	50.04%	47.36%	48.27%	47.59%	48.35%	46.79%	45.16%	52.23%	60.45%	56.08%
Short-Term Debt to Total Capital	6.86%	6.61%	0.00%	0.00%	0.00%	0.00%	17.87%	17.31%	9.97%	2.53%	12.69%
Long-Term Debt to Total Capital	45.00%	43.43%	47.36%	48.27%	47.59%	48.35%	28.92%	27.86%	42.26%	57.92%	43.39%
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	48.14%	49.96%	52.64%	51.73%	52.41%	51.65%	53.21%	54.84%	47.77%	39.55%	43.92%
Debt to EBITDA	6.85	6.08	7.91	7.18	7.84	9.63	6.61	5.42	6.86	12.91	9.63
Net Debt to EBITDA	1.72	1.31	1.85	1.58	1.72	1.91	2.48	1.80	2.10	5.09	5.11
Long-Term Debt to EBITDA	5.95	5.27	7.91	7.18	7.84	9.63	4.09	3.34	5.55	12.37	7.45
Debt to NOPAT	190.11	102.16	-108.45	-13.75	-0.42	-0.71	67.14	12.61	29.24	42.56	26.13
Net Debt to NOPAT	47.78	22.04	-25.35	-3.02	-0.09	-0.14	25.21	4.19	8.96	16.79	13.85
Long-Term Debt to NOPAT	164.97	88.67	-108.45	-13.75	-0.42	-0.71	41.49	7.78	23.66	40.78	20.22
Altman Z-Score	-51.96	-50.28	-53.71	-54.28	-53.93	-54.16	-48.44	-47.04	-44.80	-33.08	-34.98
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	2.95	3.09	3.81	3.55	3.71	3.55	1.53	1.50	1.99	2.61	1.61
Quick Ratio	2.35	2.49	3.05	2.85	2.99	2.91	1.19	1.16	1.58	2.15	1.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-33	11	26	66	13	87	-64	-161	-119	-520	-438
Operating Cash Flow to CapEx	824.59%	453.33%	780.00%	873.33%	355.26%	604.05%	121.88%	466.67%	407.89%	850.00%	-547.92%
Free Cash Flow to Firm to Interest Expense	-4.27	1.40	3.39	8.73	1.78	11.58	-8.57	-21.40	-10.65	-9.63	-24.35
Operating Cash Flow to Interest Expense	6.45	2.58	2.53	3.49	1.80	5.96	1.04	3.17	2.77	0.79	-1.46
Operating Cash Flow Less CapEx to Interest Expense	5.67	2.01	2.21	3.09	1.29	4.97	0.19	2.49	2.09	0.69	-1.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.59	0.55	0.55	0.56	0.56	0.56	0.57	0.58	0.60	0.55	0.61
Accounts Receivable Turnover	4.77	4.69	4.68	4.50	5.03	4.78	4.50	4.57	5.15	5.00	4.77
Inventory Turnover	3.98	3.69	3.80	3.99	4.09	4.10	4.03	4.32	4.51	4.62	4.46
Fixed Asset Turnover	4.44	4.21	4.22	4.25	4.22	4.36	4.55	4.71	4.97	5.49	6.06
Accounts Payable Turnover	8.75	9.24	10.11	8.70	9.70	8.57	8.07	7.77	8.62	7.34	7.90
Days Sales Outstanding (DSO)	76.44	77.87	77.92	81.05	72.58	76.37	81.11	79.80	70.93	72.94	76.58
Days Inventory Outstanding (DIO)	91.82	98.90	96.05	91.40	89.16	88.94	90.55	84.47	80.88	79.03	81.90
Days Payable Outstanding (DPO)	41.71	39.49	36.11	41.96	37.61	42.57	45.23	46.96	42.36	49.72	46.18
Cash Conversion Cycle (CCC)	126.55	137.28	137.86	130.49	124.13	122.74	126.43	117.31	109.46	102.25	112.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	858	885	853	821	842	809	970	994	966	1,337	1,419
Invested Capital Turnover	1.25	1.15	1.16	1.17	1.17	1.19	1.15	1.19	1.27	1.16	1.14
Increase / (Decrease) in Invested Capital	42	2.00	-34	-70	-16	-76	116	172	125	528	450
Enterprise Value (EV)	2,207	2,397	2,171	1,673	2,144	2,385	2,742	2,446	2,968	4,564	8,588
Market Capitalization	2,024	2,240	2,023	1,534	2,004	2,258	2,501	2,232	2,726	4,061	8,015
Book Value per Share	$3.05	$3.27	$3.17	$3.05	$3.16	$3.08	$3.28	$3.49	$3.24	$3.74	$3.66
Tangible Book Value per Share	$0.78	$1.01	$0.94	$0.85	$0.93	$0.91	$0.02	$0.24	$0.04	($1.29)	($1.09)
Total Capital	1,403	1,457	1,340	1,318	1,340	1,322	1,370	1,423	1,516	2,109	1,927
Total Debt	727	729	634	636	638	639	641	643	792	1,275	1,081
Total Long-Term Debt	631	633	634	636	638	639	396	396	641	1,222	836
Net Debt	183	157	148	140	140	127	241	214	243	503	573
Capital Expenditures (CapEx)	6.10	4.50	2.50	3.00	3.80	7.40	6.40	5.10	7.60	5.00	4.80
Debt-free, Cash-free Net Working Capital (DFCFNWC)	157	178	154	133	133	120	135	113	95	70	138
Debt-free Net Working Capital (DFNWC)	701	750	640	629	631	632	536	542	644	842	646
Net Working Capital (NWC)	605	653	640	629	631	632	291	296	493	789	401
Net Nonoperating Expense (NNE)	-1.28	2.40	16	18	-1.08	1.76	32	3.79	27	56	5.10
Net Nonoperating Obligations (NNO)	183	157	148	140	140	127	241	214	243	503	573
Total Depreciation and Amortization (D&A)	12	22	11	11	16	7.20	13	14	14	15	13
Debt-free, Cash-free Net Working Capital to Revenue	15.03%	17.53%	15.19%	13.31%	13.46%	11.88%	12.94%	10.39%	8.28%	5.65%	10.08%
Debt-free Net Working Capital to Revenue	67.20%	73.93%	63.22%	62.91%	63.71%	62.80%	51.20%	49.96%	56.23%	67.73%	47.28%
Net Working Capital to Revenue	57.98%	64.43%	63.22%	62.91%	63.71%	62.80%	27.80%	27.25%	43.03%	63.44%	29.38%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.04	$0.05	($0.11)	($0.10)	($0.01)	$0.04	$0.09	$0.04	($0.10)	($0.21)	$0.03
Adjusted Weighted Average Basic Shares Outstanding	222M	222.50M	223M	222.60M	222M	222M	222.60M	222.50M	222.90M	223.90M	232M
Adjusted Diluted Earnings per Share	$0.04	$0.05	($0.11)	($0.10)	($0.01)	$0.04	$0.09	$0.03	($0.10)	($0.21)	$0.03
Adjusted Weighted Average Diluted Shares Outstanding	224.20M	223.50M	223M	222.60M	222M	224.80M	226.90M	225.70M	222.90M	223.90M	249.50M
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	222.39M	222.57M	223.24M	221.91M	221.81M	222.14M	223.24M	223.25M	223.20M	231.39M	233.91M
Normalized Net Operating Profit after Tax (NOPAT)	8.10	13	-8.26	6.09	8.05	16	5.74	12	5.11	7.91	29
Normalized NOPAT Margin	3.27%	5.12%	-3.36%	2.42%	3.38%	6.05%	2.02%	4.01%	1.71%	2.14%	7.24%
Pre Tax Income Margin	7.42%	7.19%	-6.34%	-3.77%	3.02%	6.87%	1.12%	3.30%	-0.77%	-10.48%	3.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.36	3.32	-1.03	-0.27	1.96	3.48	1.43	2.28	0.79	0.28	1.77
NOPAT to Interest Expense	1.09	1.66	-1.08	-0.53	-0.38	1.45	6.91	1.57	0.48	0.15	0.64
EBIT Less CapEx to Interest Expense	2.58	2.75	-1.35	-0.67	1.45	2.49	0.57	1.60	0.12	0.19	1.50
NOPAT Less CapEx to Interest Expense	0.31	1.09	-1.41	-0.93	-0.89	0.46	6.05	0.89	-0.20	0.06	0.37
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	2,785.19%	1,000.00%	-476.19%	-77.52%	-70.59%	-67.69%	517.65%	47.13%	197.37%	-71.43%	-54.45%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise, investor-focused snapshot of Viavi Solutions (VIAV) based on the quarterly statements from the most recent four years. The highlights focus on trends in revenue, profitability, cash flow, and balance-sheet leverage.

Revenue growth: In 2026 Q2, operating revenue reached 369.3 million, up from 299.1 million in 2025 Q2, signaling meaningful top-line expansion year over year.
Healthy gross margin: 2026 Q2 gross profit was 210.6 million on 369.3 million in revenue, implying a gross margin of roughly 57%, a generally solid level for VIAVI’s mix.
Positive operating cash flow: 2026 Q2 shows net cash from continuing operating activities of about 42.5 million, with other recent quarters also producing positive operating cash flow.
Strong financing activity supporting liquidity: 2026 Q2 included a debt issuance of 600 million and net cash from financing activities of about 582.9 million, boosting liquidity.
Improved near-term liquidity: Cash and cash equivalents rose to about 765.5 million by 2026 Q2, contributing to a stronger cash cushion.
Profitability mix and non-cash items: Net income remains negative in several periods (e.g., 2026 Q2) largely due to non-cash adjustments and one-time items rather than core operating losses alone.
Recurring non-cash adjustments: A substantial line item for non-cash adjustments to reconcile net income appears across multiple quarters, affecting reported net income timing without reflecting cash generation.
Investing cash outflows persist: Net cash from investing activities is consistently negative in many quarters, reflecting ongoing capital deployment rather than cash generation from asset sales.
Leverage and debt growth: Long-term debt rose to about 1.22 billion by 2026 Q2, increasing leverage and interest obligations.
Bottom-line earnings per share remain negative: 2026 Q2 basic and diluted EPS are both around -0.21, highlighting ongoing losses on a per-share basis despite revenue gains.

05/14/26 03:08 PM 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 2025 ended on June 28, 2025.

Viavi Solutions' net income appears to be on an upward trend, with a most recent value of $34.80 million in 2025, falling from -$88.10 million in 2015. The previous period was -$25.80 million in 2024. See Viavi Solutions' forecast for analyst expectations on what's next for the company.

Viavi Solutions' total operating income in 2025 was $57.50 million, based on the following breakdown:

Total Gross Profit: $621.10 million
Total Operating Expenses: $563.60 million

Over the last 10 years, Viavi Solutions' total revenue changed from $873.90 million in 2015 to $1.08 billion in 2025, a change of 24.1%.

Viavi Solutions' total liabilities were at $1.21 billion at the end of 2025, a 15.1% increase from 2024, and a 8.7% increase since 2015.

In the past 10 years, Viavi Solutions' cash and equivalents has ranged from $334.50 million in 2015 to $1.00 billion in 2017, and is currently $423.60 million as of their latest financial filing in 2025.

Over the last 10 years, Viavi Solutions' book value per share changed from 4.70 in 2015 to 3.49 in 2025, a change of -25.7%.

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Financial statements for NASDAQ:VIAV last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Viavi Solutions (VIAV) Financials

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