Viasat (VSAT) Financials

$69.50 -4.80 (-6.46%)

Closing price 05/15/2026 04:00 PM Eastern

Extended Trading

$69.38 -0.12 (-0.18%)

As of 05/15/2026 07:57 PM Eastern

Annual Income Statements for Viasat

This table shows Viasat's 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	4/3/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	40	22	24	-67	-68	-0.21	3.69	-16	1,085	-1,069	-575
Consolidated Net Income / (Loss)	40	22	22	-68	-66	14	17	-2.48	1,091	-1,058	-531
Net Income / (Loss) Continuing Operations	40	22	22	-68	-66	14	-66	-102	-212	-1,047	-531
Total Pre-Tax Income	54	18	25	-105	-110	1.43	-78	-138	-162	-1,194	-545
Total Operating Income	83	41	36	-92	-61	38	-46	-113	-156	-890	-97
Total Gross Profit	419	433	510	474	531	700	565	706	721	1,382	1,490
Total Revenue	1,383	1,417	1,559	1,595	2,068	2,309	1,921	2,417	2,556	4,284	4,520
Operating Revenue	1,383	1,417	1,559	1,595	2,068	2,309	1,921	2,417	2,556	4,284	4,520
Total Cost of Revenue	964	984	1,049	1,121	1,538	1,610	1,356	1,711	1,835	2,902	3,030
Operating Cost of Revenue	964	984	1,049	1,121	1,538	1,610	1,356	1,711	1,835	2,902	3,030
Total Operating Expenses	335	392	474	566	591	661	611	819	877	2,271	1,587
Selling, General & Admin Expense	271	298	333	385	458	523	497	641	719	1,894	1,181
Research & Development Expense	47	77	130	168	123	130	109	149	129	151	142
Amortization Expense	18	16	11	12	9.66	7.61	5.48	29	30	227	264
Total Other Income / (Expense), net	-29	-24	-11	-13	-50	-37	-32	-25	-6.20	-304	-448
Interest Expense	31	26	12	4.03	50	39	33	29	27	400	522
Interest & Investment Income	2.02	2.23	1.01	0.96	0.15	1.65	0.44	0.50	20	96	84
Other Income / (Expense), net	-	-	0.00	-10	-	0.00	0.00	4.12	1.10	0.00	-9.98
Income Tax Expense	14	-4.17	3.62	-35	-41	-7.92	-11	-37	49	-139	-0.94
Other Gains / (Losses), net	-	-	0.00	1.98	3.00	4.47	0.56	-0.28	-0.07	6.98	13
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	84	99	1,302	-10	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.47	0.03	-2.00	-0.97	1.15	14	13	13	5.94	11	44
Basic Earnings per Share	$0.86	$0.45	$0.45	($1.15)	($1.13)	$0.00	$0.06	($0.21)	$14.29	($9.12)	($4.48)
Weighted Average Basic Shares Outstanding	47.14M	48.46M	52.32M	58.44M	59.94M	61.63M	66.44M	73.40M	75.92M	117.19M	128.48M
Diluted Earnings per Share	$0.84	$0.44	$0.45	($1.15)	($1.13)	$0.00	$0.06	($0.21)	$14.29	($9.12)	($4.48)
Weighted Average Diluted Shares Outstanding	48.29M	49.45M	53.40M	58.44M	59.94M	61.63M	66.44M	73.40M	75.92M	117.19M	128.48M
Weighted Average Basic & Diluted Shares Outstanding	46.90M	48.30M	52.80M	58.50M	59.80M	62.15M	72.53M	74.44M	76.91M	125.86M	130.32M

This table shows Viasat's 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	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-77	-767	-124	-100	-33	-138	-158	-246	-56	-61	25
Consolidated Net Income / (Loss)	-77	-766	-119	-96	-22	-122	-147	-241	-48	-52	37
Net Income / (Loss) Continuing Operations	-77	-766	-119	-85	-22	-122	-147	-241	-48	-52	37
Total Pre-Tax Income	-78	-858	-157	-101	-23	-119	-162	-241	-45	-45	93
Total Operating Income	-42	-805	-44	0.30	60	-25	21	-154	47	36	26
Total Gross Profit	235	459	361	326	416	347	362	365	409	385	379
Total Revenue	780	1,225	1,129	1,150	1,126	1,122	1,124	1,147	1,171	1,141	1,157
Operating Revenue	780	1,225	1,129	1,150	1,126	1,122	1,124	1,147	1,171	1,141	1,157
Total Cost of Revenue	545	766	767	824	711	775	762	782	762	756	778
Operating Cost of Revenue	545	766	767	824	711	775	762	782	762	756	778
Total Operating Expenses	276	1,264	405	326	356	372	341	519	363	349	352
Selling, General & Admin Expense	220	1,149	272	253	251	272	238	419	263	242	241
Research & Development Expense	29	33	42	46	39	33	37	34	34	42	47
Amortization Expense	28	81	92	26	66	66	66	66	66	65	65
Total Other Income / (Expense), net	-37	-54	-113	-101	-83	-95	-183	-87	-92	-81	67
Interest Expense	56	86	134	125	106	119	191	206	101	93	99
Interest & Investment Income	19	32	21	24	23	24	18	20	14	13	166
Other Income / (Expense), net	-	0.00	0.00	-	0.00	0.00	-9.98	-	-5.16	0.00	0.11
Income Tax Expense	-0.53	-93	-34	-11	1.18	5.92	-12	3.76	6.61	11	59
Other Gains / (Losses), net	0.83	-0.50	2.69	3.96	2.75	3.44	3.41	3.64	3.73	4.22	3.29
Net Income / (Loss) Attributable to Noncontrolling Interest	0.10	1.48	5.05	4.36	11	16	12	5.32	8.71	9.62	13
Basic Earnings per Share	($0.83)	($6.16)	($0.99)	($1.14)	($0.26)	($1.07)	($1.23)	($1.92)	($0.43)	($0.45)	$0.18
Weighted Average Basic Shares Outstanding	93.11M	124.53M	125.10M	117.19M	126.58M	128.38M	128.94M	128.48M	131.58M	135.12M	135.73M
Diluted Earnings per Share	($0.83)	($6.16)	($0.99)	($1.14)	($0.26)	($1.07)	($1.23)	($1.92)	($0.43)	($0.45)	$0.18
Weighted Average Diluted Shares Outstanding	93.11M	124.53M	125.10M	117.19M	126.58M	128.38M	128.94M	128.48M	131.58M	135.12M	140.92M
Weighted Average Basic & Diluted Shares Outstanding	124.05M	124.51M	125.32M	125.86M	127.78M	128.39M	129.12M	130.32M	134.26M	135.26M	135.83M

This table details how cash moves in and out of Viasat's 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	4/3/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Net Change in Cash & Equivalents	-6.08	-10	88	-59	190	43	-8.36	15	1,069	522	-289
Net Cash From Operating Activities	350	297	411	359	328	437	727	506	368	688	908
Net Cash From Continuing Operating Activities	350	297	411	359	328	437	719	506	368	688	908
Net Income / (Loss) Continuing Operations	40	22	22	-68	-66	14	17	-2.48	1,091	-1,058	-531
Consolidated Net Income / (Loss)	40	22	22	-68	-66	14	17	-2.48	1,091	-1,058	-531
Depreciation Expense	180	193	201	210	262	280	331	407	410	868	1,036
Amortization Expense	42	49	45	45	56	62	66	88	91	290	324
Non-Cash Adjustments To Reconcile Net Income	76	90	101	82	96	129	124	134	-1,572	1,059	333
Changes in Operating Assets and Liabilities, net	12	-57	42	89	-21	-48	181	-121	349	-470	-255
Net Cash From Investing Activities	-477	-456	-715	-584	-489	-759	-885	-1,130	768	-1,291	-758
Net Cash From Continuing Investing Activities	-477	-456	-715	-584	-489	-759	-885	-1,130	768	-1,291	-758
Purchase of Property, Plant & Equipment	-366	-378	-515	-512	-637	-694	-827	-990	-1,164	-1,539	-1,030
Acquisitions	-110	-78	-228	-73	-52	-67	-58	-140	0.00	-343	0.00
Purchase of Investments	-	-	-	-	-	-	-	0.00	0.00	-82	0.00
Divestitures	-	-	-	-	-	-	0.00	0.00	1,932	0.00	20
Sale and/or Maturity of Investments	-	-	-	-	-	-	-	0.00	0.00	164	0.00
Other Investing Activities, net	-	-	0.00	-	186	2.28	-	0.00	0.00	509	252
Net Cash From Financing Activities	121	149	393	166	355	365	150	644	-66	1,124	-443
Net Cash From Continuing Financing Activities	121	149	393	166	355	365	150	644	-66	1,124	-443
Repayment of Debt	-251	-2.62	-278	-597	-753	-64	-430	-620	-581	-620	-2,430
Payment of Dividends	-	-	-	-	-	-	0.00	0.00	-30	0.00	0.00
Issuance of Debt	364	351	167	753	1,110	420	400	1,266	540	1,737	1,975
Issuance of Common Equity	23	22	525	35	26	38	194	21	22	19	18
Other Financing Activities, net	-15	-221	-22	-24	-29	-29	-14	-23	-16	-12	-5.51
Effect of Exchange Rate Changes	-0.51	0.05	-1.07	1.43	-2.49	-0.71	0.01	-4.92	-0.84	0.28	3.83
Cash Interest Paid	30	22	10	3.72	35	28	24	15	11	229	390
Cash Income Taxes Paid	0.49	1.38	1.47	4.02	1.76	11	6.67	17	16	201	196

This table details how cash moves in and out of Viasat's 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	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	613	-24	-348	280	-89	1,718	-1,973	56	-435	53	116
Net Cash From Operating Activities	104	219	134	232	151	239	219	298	258	282	727
Net Cash From Continuing Operating Activities	104	219	134	232	151	239	219	298	258	282	727
Net Income / (Loss) Continuing Operations	-77	-766	-119	-96	-22	-122	-147	-241	-48	-52	37
Consolidated Net Income / (Loss)	-77	-766	-119	-96	-22	-122	-147	-241	-48	-52	37
Depreciation Expense	132	237	229	270	250	273	257	257	258	253	261
Amortization Expense	43	97	107	43	81	82	81	80	84	74	79
Non-Cash Adjustments To Reconcile Net Income	31	848	44	135	39	44	133	117	22	29	39
Changes in Operating Assets and Liabilities, net	-25	-197	-128	-120	-197	-38	-105	85	-57	-21	311
Net Cash From Investing Activities	-770	-231	-451	161	-222	-111	-193	-233	-176	-214	-274
Net Cash From Continuing Investing Activities	-770	-231	-451	161	-222	-111	-193	-233	-176	-214	-274
Purchase of Property, Plant & Equipment	-375	-366	-421	-378	-301	-229	-253	-248	-198	-214	-283
Other Investing Activities, net	0.00	-	-	-	80	118	60	-6.08	22	-	8.71
Net Cash From Financing Activities	1,278	-9.86	-32	-112	-22	1,591	-2,005	-6.70	-514	-20	-334
Net Cash From Continuing Financing Activities	1,278	-9.86	-32	-112	-22	1,591	-2,005	-6.70	-514	-20	-334
Repayment of Debt	-54	-20	-24	-522	-21	-392	-2,002	-15	-463	-12	-326
Issuance of Common Equity	0.08	10	-	9.16	-	9.66	-	8.36	-	-	0.75
Other Financing Activities, net	-2.21	-0.35	-8.66	-0.49	-1.42	-0.98	-2.81	-0.30	-4.67	-1.96	-8.52

This table presents Viasat's 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	4/3/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Total Assets	2,158	2,397	2,955	3,414	3,915	4,884	5,349	6,389	7,730	16,329	15,449
Total Current Assets	492	522	615	613	887	1,046	991	1,159	2,245	3,479	2,888
Cash & Equivalents	52	42	130	71	262	304	296	310	1,349	1,901	1,612
Accounts Receivable	266	287	264	268	300	331	239	312	420	678	700
Inventories, net	128	145	163	196	235	294	337	198	269	318	294
Prepaid Expenses	45	48	58	77	91	116	120	141	177	582	282
Plant, Property, & Equipment, net	1,180	1,385	1,649	1,962	2,125	2,587	3,050	3,705	4,378	7,557	7,406
Total Noncurrent Assets	486	491	691	839	903	1,251	1,308	1,525	1,108	5,293	5,155
Goodwill	117	117	120	121	122	121	122	169	159	1,622	1,622
Intangible Assets	42	34	42	32	22	14	9.57	236	201	2,544	2,271
Other Noncurrent Operating Assets	327	340	529	686	759	1,116	1,176	1,043	748	1,127	1,262
Total Liabilities & Shareholders' Equity	2,158	2,397	2,955	3,414	3,915	4,884	5,349	6,389	7,730	16,329	15,449
Total Liabilities	1,115	1,263	1,217	1,566	1,999	2,834	2,962	3,707	3,870	11,257	10,804
Total Current Liabilities	268	280	326	466	485	605	708	770	957	1,296	1,677
Short-Term Debt	-	-	0.29	45	20	30	30	35	38	58	504
Accounts Payable	77	96	100	157	157	184	145	201	272	287	264
Accrued Expenses	191	184	225	264	308	391	533	483	647	951	909
Total Noncurrent Liabilities	846	983	891	1,100	1,514	2,229	2,254	2,936	2,913	9,961	9,128
Long-Term Debt	846	983	891	1,100	1,514	1,822	1,803	2,451	2,422	7,129	6,532
Other Noncurrent Operating Liabilities	-	-	-	-	-	407	451	469	492	2,832	2,595
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,044	1,134	1,738	1,848	1,916	2,050	2,387	2,683	3,861	5,073	4,645
Total Preferred & Common Equity	1,039	1,129	1,735	1,837	1,908	2,028	2,351	2,634	3,824	5,025	4,554
Total Common Equity	1,039	1,129	1,735	1,837	1,908	2,028	2,351	2,634	3,824	5,025	4,554
Common Stock	786	855	1,440	1,536	1,657	1,788	2,093	2,422	2,541	4,797	4,926
Retained Earnings	252	274	297	286	246	245	249	234	1,318	249	-326
Accumulated Other Comprehensive Income / (Loss)	0.15	0.01	-2.50	16	5.34	-6.05	9.80	-22	-35	-21	-47
Noncontrolling Interest	5.15	5.32	3.31	11	8.33	22	36	49	36	47	91

This table presents Viasat's 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	9/30/2022	12/31/2022	6/30/2023	9/30/2023	12/31/2023	6/30/2024	9/30/2024	12/31/2024	6/30/2025	9/30/2025	12/31/2025
Total Assets	6,510	6,802	17,898	17,072	16,651	16,088	17,755	15,600	14,896	14,756	14,911
Total Current Assets	1,147	1,252	3,426	4,059	3,736	3,327	5,061	2,842	2,456	2,435	2,649
Cash & Equivalents	149	182	1,959	1,962	1,621	1,812	3,530	1,556	1,177	1,230	1,346
Accounts Receivable	320	369	631	664	676	695	717	649	686	683	749
Inventories, net	244	261	336	346	354	330	327	320	284	279	287
Prepaid Expenses	148	157	334	1,080	1,056	491	487	316	308	244	266
Plant, Property, & Equipment, net	4,003	4,198	9,163	7,708	7,374	7,532	7,486	7,556	7,339	7,285	7,299
Total Noncurrent Assets	1,360	1,352	5,308	5,305	5,540	5,229	5,208	5,203	5,101	5,035	4,963
Goodwill	162	166	1,592	1,376	1,614	1,621	1,624	1,620	1,626	1,626	1,626
Intangible Assets	211	207	2,546	2,772	2,774	2,475	2,411	2,338	2,192	2,127	2,062
Other Noncurrent Operating Assets	987	978	1,170	1,157	1,153	1,132	1,173	1,245	1,283	1,282	1,275
Total Liabilities & Shareholders' Equity	6,510	6,802	17,898	17,072	16,651	16,088	17,755	15,600	14,896	14,756	14,911
Total Liabilities	3,882	4,180	11,922	11,844	11,505	11,000	12,746	10,754	10,294	10,183	10,281
Total Current Liabilities	804	851	1,471	1,549	1,377	1,080	3,524	1,580	1,161	1,172	1,246
Short-Term Debt	39	41	60	63	63	58	2,378	507	52	50	37
Accounts Payable	245	300	378	389	315	231	247	219	242	309	309
Accrued Expenses	453	446	1,034	1,098	999	791	899	855	867	814	900
Total Noncurrent Liabilities	3,078	3,329	10,450	10,295	10,128	9,920	9,222	9,174	9,132	9,011	9,035
Long-Term Debt	2,647	2,899	7,218	7,228	7,223	7,129	6,405	6,536	6,533	6,535	6,244
Other Noncurrent Operating Liabilities	431	429	3,232	3,067	2,906	2,792	2,817	2,638	2,600	2,476	2,791
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,628	2,622	5,976	5,228	5,146	5,088	5,009	4,846	4,602	4,573	4,631
Total Preferred & Common Equity	2,597	2,589	5,940	5,190	5,103	5,029	4,935	4,761	4,562	4,524	4,569
Total Common Equity	2,597	2,589	5,940	5,190	5,103	5,029	4,935	4,761	4,562	4,524	4,569
Common Stock	2,497	2,506	4,718	4,753	4,768	4,845	4,879	4,899	4,966	4,994	5,014
Retained Earnings	164	121	1,241	474	350	217	79	-79	-382	-443	-418
Accumulated Other Comprehensive Income / (Loss)	-64	-39	-20	-37	-15	-32	-22	-59	-22	-27	-26
Noncontrolling Interest	32	33	36	38	43	58	74	86	40	49	62

This table displays calculated financial ratios and metrics derived from Viasat's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	4/3/2015	3/31/2016	3/31/2017	3/31/2018	3/31/2019	3/31/2020	3/31/2021	3/31/2022	3/31/2023	3/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.30%	2.52%	10.01%	2.26%	29.70%	11.65%	-16.82%	25.84%	5.75%	67.59%	5.50%
EBITDA Growth	61.70%	-7.02%	-0.29%	-45.73%	68.35%	47.52%	-7.74%	10.05%	-10.59%	-22.52%	368.16%
EBIT Growth	2,420.28%	-50.54%	-11.33%	-380.87%	40.80%	163.38%	-219.60%	-137.25%	-42.04%	-474.59%	87.92%
NOPAT Growth	2,573.66%	-17.61%	-38.54%	-306.41%	34.24%	692.40%	-112.80%	-146.21%	-37.84%	-470.55%	89.04%
Net Income Growth	560.79%	-45.43%	-0.01%	-413.66%	2.65%	120.78%	23.80%	-114.52%	44,028.63%	-196.99%	49.80%
EPS Growth	500.00%	-47.62%	2.27%	-355.56%	1.74%	100.00%	0.00%	-450.00%	6,904.76%	-163.82%	50.88%
Operating Cash Flow Growth	70.38%	-15.04%	38.51%	-12.80%	-8.67%	33.39%	66.44%	-30.47%	-27.25%	87.08%	31.97%
Free Cash Flow Firm Growth	-7.08%	5.84%	-110.62%	-23.90%	36.52%	48.91%	-127.62%	-124.30%	50.55%	-1,415.64%	103.67%
Invested Capital Growth	16.46%	12.92%	20.44%	16.89%	9.12%	12.84%	9.09%	18.52%	6.22%	109.67%	-2.80%
Revenue Q/Q Growth	1.53%	0.51%	2.93%	1.48%	0.00%	0.00%	-32.37%	11.91%	6.15%	12.74%	-0.06%
EBITDA Q/Q Growth	10.73%	-3.51%	-0.78%	-20.37%	72.22%	-10.20%	-16.87%	5.39%	1.33%	2,850.39%	-10.01%
EBIT Q/Q Growth	33.40%	-22.86%	-11.67%	-81.37%	61.53%	-56.45%	-206.32%	-1.11%	2.27%	7.58%	-289.85%
NOPAT Q/Q Growth	3.36%	14.29%	-16.05%	-63.28%	61.53%	307.01%	-190.11%	-1.07%	2.25%	7.58%	-272.23%
Net Income Q/Q Growth	37.73%	-12.28%	-0.63%	-53.39%	27.24%	-3.26%	127.35%	-107.38%	934.70%	-544.96%	-37.49%
EPS Q/Q Growth	40.00%	-13.73%	4.65%	-61.97%	45.41%	-100.00%	300.00%	-167.74%	864.17%	-217.07%	-21.08%
Operating Cash Flow Q/Q Growth	2.30%	-0.21%	5.43%	-5.92%	12.68%	7.55%	3.75%	-9.09%	-15.80%	35.88%	7.90%
Free Cash Flow Firm Q/Q Growth	-68.88%	20.08%	-51.62%	8.64%	28.27%	66.66%	-120.01%	10.41%	31.76%	4.00%	-54.45%
Invested Capital Q/Q Growth	5.30%	2.57%	7.75%	3.86%	1.75%	-1.94%	1.47%	-0.80%	-4.27%	-3.91%	-2.55%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.28%	30.55%	32.73%	29.71%	25.65%	30.29%	29.42%	29.20%	28.22%	32.25%	32.97%
EBITDA Margin	22.03%	19.98%	18.11%	9.61%	12.47%	16.48%	18.28%	15.99%	13.52%	6.25%	27.73%
Operating Margin	6.01%	2.90%	2.34%	-5.78%	-2.93%	1.66%	-2.39%	-4.68%	-6.10%	-20.77%	-2.16%
EBIT Margin	6.01%	2.90%	2.34%	-6.42%	-2.93%	1.66%	-2.39%	-4.51%	-6.06%	-20.77%	-2.38%
Profit (Net Income) Margin	2.89%	1.54%	1.40%	-4.28%	-3.21%	0.60%	0.89%	-0.10%	42.67%	-24.70%	-11.75%
Tax Burden Percent	74.26%	123.71%	85.75%	64.73%	60.16%	967.30%	-21.87%	1.80%	-672.66%	88.61%	97.40%
Interest Burden Percent	64.61%	42.80%	69.62%	102.99%	182.25%	3.72%	170.17%	126.50%	104.71%	134.18%	507.46%
Effective Tax Rate	25.74%	-23.71%	14.25%	0.00%	0.00%	-554.27%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.62%	2.60%	1.37%	-2.38%	-1.39%	7.41%	-0.86%	-1.85%	-2.28%	-8.14%	-0.67%
ROIC Less NNEP Spread (ROIC-NNEP)	0.55%	-0.75%	0.25%	-2.79%	-3.44%	-9.44%	2.34%	2.53%	76.44%	-21.81%	-9.31%
Return on Net Nonoperating Assets (RNNOA)	0.39%	-0.60%	0.15%	-1.43%	-2.14%	-6.71%	1.63%	1.75%	35.62%	-15.54%	-10.26%
Return on Equity (ROE)	4.01%	2.00%	1.52%	-3.81%	-3.53%	0.70%	0.77%	-0.10%	33.34%	-23.69%	-10.93%
Cash Return on Invested Capital (CROIC)	-11.60%	-9.53%	-17.17%	-17.96%	-10.11%	-4.65%	-9.55%	-18.80%	-8.31%	-78.97%	2.17%
Operating Return on Assets (OROA)	4.04%	1.81%	1.36%	-3.22%	-1.65%	0.87%	-0.90%	-1.86%	-2.19%	-7.40%	-0.68%
Return on Assets (ROA)	1.94%	0.96%	0.81%	-2.14%	-1.81%	0.31%	0.33%	-0.04%	15.45%	-8.79%	-3.34%
Return on Common Equity (ROCE)	3.99%	1.99%	1.51%	-3.79%	-3.51%	0.69%	0.76%	-0.10%	32.91%	-23.46%	-10.78%
Return on Equity Simple (ROE_SIMPLE)	3.84%	1.93%	1.25%	-3.72%	-3.48%	0.68%	0.73%	-0.09%	28.52%	-21.05%	-11.66%
Net Operating Profit after Tax (NOPAT)	62	51	31	-65	-42	251	-32	-79	-109	-623	-68
NOPAT Margin	4.47%	3.59%	2.00%	-4.05%	-2.05%	10.89%	-1.67%	-3.28%	-4.27%	-14.54%	-1.51%
Net Nonoperating Expense Percent (NNEP)	3.07%	3.35%	1.12%	0.41%	2.05%	16.85%	-3.19%	-4.38%	-78.72%	13.67%	8.64%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-1.73%	-5.08%	-0.58%
Cost of Revenue to Revenue	69.72%	69.45%	67.27%	70.29%	74.35%	69.71%	70.58%	70.80%	71.78%	67.75%	67.03%
SG&A Expenses to Revenue	19.59%	21.05%	21.39%	24.17%	22.17%	22.65%	25.88%	26.51%	28.11%	44.21%	26.13%
R&D to Revenue	3.38%	5.45%	8.31%	10.56%	5.95%	5.65%	5.65%	6.18%	5.04%	3.52%	3.15%
Operating Expenses to Revenue	24.27%	27.65%	30.39%	35.49%	28.58%	28.63%	31.82%	33.88%	34.32%	53.03%	35.12%
Earnings before Interest and Taxes (EBIT)	83	41	36	-102	-61	38	-46	-109	-155	-890	-107
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	305	283	282	153	258	381	351	386	346	268	1,253
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.75	3.18	2.12	2.11	2.46	1.10	1.40	1.38	0.68	0.45	0.30
Price to Tangible Book Value (P/TBV)	3.25	3.67	2.34	2.30	2.66	1.18	1.48	1.63	0.75	2.64	2.04
Price to Revenue (P/Rev)	2.07	2.53	2.36	2.43	2.27	0.97	1.71	1.50	1.01	0.53	0.30
Price to Earnings (P/E)	70.80	165.17	154.64	0.00	0.00	0.00	892.18	0.00	2.38	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	1.41%	0.61%	0.65%	0.00%	0.00%	0.00%	0.11%	0.00%	41.97%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.99	2.19	1.78	1.70	1.87	1.06	1.24	1.26	0.75	0.73	0.68
Enterprise Value to Revenue (EV/Rev)	2.65	3.20	2.85	3.11	2.89	1.65	2.53	2.42	1.45	1.77	1.52
Enterprise Value to EBITDA (EV/EBITDA)	12.01	16.02	15.72	32.33	23.13	9.99	13.86	15.15	10.71	28.39	5.47
Enterprise Value to EBIT (EV/EBIT)	43.99	110.34	121.78	0.00	0.00	98.94	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	59.23	89.19	142.02	0.00	0.00	15.12	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	10.46	15.28	10.80	13.81	18.22	8.70	6.69	11.58	10.06	11.04	7.55
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	30.91
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.81	0.87	0.51	0.62	0.80	0.90	0.77	0.93	0.64	1.42	1.51
Long-Term Debt to Equity	0.81	0.87	0.51	0.60	0.79	0.89	0.76	0.91	0.63	1.41	1.41
Financial Leverage	0.72	0.80	0.59	0.51	0.62	0.71	0.70	0.69	0.47	0.71	1.10
Leverage Ratio	2.07	2.09	1.86	1.78	1.95	2.22	2.31	2.32	2.16	2.69	3.27
Compound Leverage Factor	1.34	0.90	1.30	1.83	3.55	0.08	3.92	2.93	2.26	3.61	16.60
Debt to Total Capital	44.78%	46.42%	33.90%	38.25%	44.46%	47.45%	43.44%	48.10%	38.92%	58.62%	60.24%
Short-Term Debt to Total Capital	0.00%	0.00%	0.01%	1.51%	0.58%	0.76%	0.72%	0.68%	0.60%	0.47%	4.31%
Long-Term Debt to Total Capital	44.78%	46.42%	33.89%	36.74%	43.88%	46.69%	42.71%	47.42%	38.31%	58.15%	55.92%
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	0.27%	0.25%	0.13%	0.36%	0.24%	0.57%	0.85%	0.94%	0.57%	0.38%	0.78%
Common Equity to Total Capital	54.95%	53.33%	65.97%	61.38%	55.30%	51.97%	55.72%	50.96%	60.51%	40.99%	38.99%
Debt to EBITDA	2.78	3.47	3.16	7.47	5.94	4.86	5.22	6.43	7.12	26.85	5.61
Net Debt to EBITDA	2.61	3.32	2.70	7.01	4.93	4.07	4.38	5.63	3.13	19.75	4.33
Long-Term Debt to EBITDA	2.78	3.47	3.16	7.18	5.87	4.79	5.13	6.34	7.01	26.63	5.21
Debt to NOPAT	13.71	19.32	28.52	-17.74	-36.14	7.37	-56.99	-31.39	-22.53	-11.54	-103.11
Net Debt to NOPAT	12.86	18.49	24.35	-16.64	-29.98	6.15	-47.79	-27.47	-9.89	-8.49	-79.49
Long-Term Debt to NOPAT	13.71	19.32	28.51	-17.04	-35.67	7.25	-56.04	-30.95	-22.18	-11.45	-95.73
Altman Z-Score	2.59	2.63	2.64	2.02	2.09	1.15	1.13	1.03	1.10	0.39	0.41
Noncontrolling Interest Sharing Ratio	0.54%	0.48%	0.30%	0.39%	0.51%	0.77%	1.31%	1.67%	1.30%	0.93%	1.42%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.83	1.86	1.89	1.31	1.83	1.73	1.40	1.51	2.35	2.68	1.72
Quick Ratio	1.19	1.17	1.21	0.73	1.16	1.05	0.75	0.81	1.85	1.99	1.38
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-198	-187	-393	-487	-309	-158	-359	-806	-399	-6,041	222
Operating Cash Flow to CapEx	95.37%	78.58%	84.43%	70.10%	52.59%	62.96%	87.91%	51.06%	31.59%	44.71%	88.16%
Free Cash Flow to Firm to Interest Expense	-6.30	-7.24	-32.51	-120.89	-6.18	-4.09	-10.99	-27.42	-14.87	-15.09	0.43
Operating Cash Flow to Interest Expense	11.11	11.53	34.04	89.08	6.55	11.31	22.25	17.20	13.72	1.72	1.74
Operating Cash Flow Less CapEx to Interest Expense	-0.54	-3.14	-6.28	-38.00	-5.90	-6.65	-3.06	-16.49	-29.71	-2.13	-0.23
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.62	0.58	0.50	0.56	0.52	0.38	0.41	0.36	0.36	0.28
Accounts Receivable Turnover	5.14	5.13	5.67	6.00	7.28	7.32	6.75	8.78	6.98	7.80	6.56
Inventory Turnover	7.77	7.20	6.80	6.24	7.14	6.09	4.30	6.40	7.87	9.90	9.90
Fixed Asset Turnover	1.24	1.11	1.03	0.88	1.01	0.98	0.68	0.72	0.63	0.72	0.60
Accounts Payable Turnover	10.97	11.41	10.71	8.70	9.77	9.44	8.25	9.90	7.77	10.39	10.99
Days Sales Outstanding (DSO)	71.05	71.21	64.42	60.82	50.12	49.87	54.09	41.59	52.27	46.78	55.63
Days Inventory Outstanding (DIO)	46.95	50.71	53.65	58.54	51.13	59.97	84.96	57.01	46.39	36.88	36.86
Days Payable Outstanding (DPO)	33.28	32.00	34.09	41.97	37.36	38.65	44.25	36.88	46.97	35.14	33.22
Cash Conversion Cycle (CCC)	84.72	89.93	83.99	77.38	63.89	71.19	94.80	61.72	51.69	48.53	59.27
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,838	2,075	2,499	2,922	3,188	3,597	3,924	4,651	4,941	10,359	10,069
Invested Capital Turnover	0.81	0.72	0.68	0.59	0.68	0.68	0.51	0.56	0.53	0.56	0.44
Increase / (Decrease) in Invested Capital	260	237	424	422	267	409	327	727	289	5,418	-290
Enterprise Value (EV)	3,657	4,537	4,440	4,954	5,968	3,801	4,866	5,855	3,701	7,600	6,860
Market Capitalization	2,858	3,591	3,675	3,870	4,687	2,232	3,293	3,630	2,584	2,267	1,345
Book Value per Share	$21.80	$23.10	$30.12	$31.20	$31.54	$32.64	$34.33	$35.40	$50.07	$40.10	$35.27
Tangible Book Value per Share	$18.45	$20.02	$27.32	$28.60	$29.16	$30.46	$32.40	$29.96	$45.36	$6.86	$5.12
Total Capital	1,890	2,117	2,629	2,993	3,450	3,902	4,220	5,169	6,320	12,260	11,681
Total Debt	846	983	891	1,145	1,534	1,851	1,833	2,486	2,459	7,187	7,036
Total Long-Term Debt	846	983	891	1,100	1,514	1,822	1,803	2,451	2,422	7,129	6,532
Net Debt	794	941	761	1,073	1,272	1,547	1,537	2,176	1,080	5,286	5,424
Capital Expenditures (CapEx)	366	378	487	512	623	694	827	990	1,164	1,539	1,030
Debt-free, Cash-free Net Working Capital (DFCFNWC)	171	199	160	120	160	167	17	114	-54	340	103
Debt-free Net Working Capital (DFNWC)	223	242	290	191	422	471	313	424	1,326	2,241	1,715
Net Working Capital (NWC)	223	242	289	146	402	441	283	389	1,288	2,183	1,211
Net Nonoperating Expense (NNE)	22	29	9.50	3.74	24	238	-49	-77	-1,200	435	463
Net Nonoperating Obligations (NNO)	794	941	761	1,073	1,272	1,547	1,537	1,969	1,080	5,286	5,424
Total Depreciation and Amortization (D&A)	221	242	246	256	319	342	397	495	500	1,158	1,361
Debt-free, Cash-free Net Working Capital to Revenue	12.38%	14.07%	10.23%	7.52%	7.73%	7.21%	0.90%	4.70%	-2.10%	7.94%	2.28%
Debt-free Net Working Capital to Revenue	16.16%	17.04%	18.57%	12.00%	20.39%	20.39%	16.31%	17.54%	51.86%	52.32%	37.95%
Net Working Capital to Revenue	16.16%	17.04%	18.56%	9.16%	19.42%	19.10%	14.72%	16.10%	50.38%	50.96%	26.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.86	$0.45	$0.45	($1.15)	($1.13)	$0.00	$0.06	($0.21)	$14.29	($9.12)	($4.48)
Adjusted Weighted Average Basic Shares Outstanding	47.14M	48.46M	52.32M	58.44M	59.94M	61.63M	66.44M	73.40M	75.92M	117.19M	128.48M
Adjusted Diluted Earnings per Share	$0.84	$0.44	$0.45	($1.15)	($1.13)	$0.00	$0.06	($0.21)	$14.29	($9.12)	($4.48)
Adjusted Weighted Average Diluted Shares Outstanding	48.29M	49.45M	53.40M	58.44M	59.94M	61.63M	67.02M	73.40M	75.92M	117.19M	128.48M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($1.13)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.71M	48.94M	57.63M	58.91M	60.60M	62.15M	72.53M	74.44M	76.91M	125.86M	130.32M
Normalized Net Operating Profit after Tax (NOPAT)	62	29	31	-65	-42	27	-32	-79	-109	-623	-68
Normalized NOPAT Margin	4.47%	2.03%	2.00%	-4.05%	-2.05%	1.16%	-1.67%	-3.28%	-4.27%	-14.54%	-1.51%
Pre Tax Income Margin	3.89%	1.24%	1.63%	-6.61%	-5.34%	0.06%	-4.07%	-5.71%	-6.34%	-27.87%	-12.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.64	1.60	3.02	-25.44	-1.21	0.99	-1.41	-3.71	-5.78	-2.22	-0.21
NOPAT to Interest Expense	1.96	1.98	2.59	-16.03	-0.85	6.51	-0.98	-2.69	-4.07	-1.56	-0.13
EBIT Less CapEx to Interest Expense	-9.01	-13.08	-37.30	-152.52	-13.67	-16.97	-26.71	-37.40	-49.21	-6.07	-2.18
NOPAT Less CapEx to Interest Expense	-9.69	-12.70	-37.73	-143.11	-13.30	-11.45	-26.29	-36.39	-47.50	-5.40	-2.11
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.75%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.75%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Viasat's 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	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	35.60%	84.67%	73.24%	72.65%	44.46%	-8.42%	-0.42%	-0.25%	3.96%	1.66%	2.96%
EBITDA Growth	94.37%	-464.55%	212.45%	477.16%	193.80%	169.40%	-13.77%	-41.38%	-1.99%	9.72%	4.94%
EBIT Growth	25.37%	-16,962.26%	-40.26%	100.41%	243.88%	96.54%	-94.32%	-52,230.51%	-30.51%	244.97%	134.35%
NOPAT Growth	26.70%	-1,097.57%	-40.26%	100.41%	243.88%	96.93%	148.38%	-52,230.51%	-21.87%	244.97%	-34.87%
Net Income Growth	-265.52%	-1,510.23%	-195.24%	-107.99%	71.80%	84.09%	-23.09%	-151.01%	-120.06%	57.45%	125.52%
EPS Growth	-186.21%	-862.50%	-80.00%	-107.23%	68.67%	82.63%	-24.24%	-68.42%	-65.38%	57.94%	114.63%
Operating Cash Flow Growth	161.54%	16.17%	49.27%	361.67%	45.75%	9.23%	64.31%	28.65%	71.06%	18.00%	231.22%
Free Cash Flow Firm Growth	-867.49%	-1,451.32%	-1,043.01%	-1,492.14%	111.68%	104.38%	108.19%	103.37%	-31.18%	33.51%	67.99%
Invested Capital Growth	117.80%	113.27%	108.87%	109.67%	-5.97%	-2.72%	-4.15%	-2.80%	-4.33%	-3.27%	-7.43%
Revenue Q/Q Growth	17.07%	57.15%	-7.91%	1.90%	-2.05%	-0.37%	0.13%	2.07%	2.09%	-2.58%	1.42%
EBITDA Q/Q Growth	145.48%	-453.89%	162.16%	6.88%	24.96%	-16.41%	-22.76%	-27.34%	108.93%	-5.51%	1.16%
EBIT Q/Q Growth	42.89%	-1,838.21%	94.54%	100.67%	20,149.15%	-146.67%	-206.13%	-80.20%	126.99%	-13.81%	-26.16%
NOPAT Q/Q Growth	42.89%	-1,838.21%	94.54%	100.67%	20,149.15%	-141.31%	186.10%	-823.76%	130.35%	-23.35%	-61.31%
Net Income Q/Q Growth	-106.41%	-895.76%	84.41%	19.64%	77.39%	-461.61%	-20.62%	-63.87%	80.18%	-8.60%	172.35%
EPS Q/Q Growth	-105.26%	-642.17%	83.93%	-15.15%	77.19%	-311.54%	-14.95%	-56.10%	77.60%	-4.65%	140.00%
Operating Cash Flow Q/Q Growth	106.30%	111.23%	-39.00%	73.68%	-34.87%	58.30%	-8.25%	35.99%	-13.40%	9.20%	157.54%
Free Cash Flow Firm Q/Q Growth	-1,677.10%	-1.97%	8.38%	4.10%	113.04%	-61.77%	71.29%	-60.53%	166.28%	-25.84%	115.54%
Invested Capital Q/Q Growth	125.22%	-5.19%	2.18%	-3.91%	1.00%	-1.91%	0.68%	-2.55%	-0.59%	-0.82%	-3.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.12%	37.47%	32.01%	28.38%	36.90%	30.94%	32.20%	31.85%	34.96%	33.74%	32.74%
EBITDA Margin	17.06%	-38.43%	25.94%	27.20%	34.71%	29.12%	22.46%	15.99%	32.72%	31.73%	31.66%
Operating Margin	-5.32%	-65.66%	-3.89%	0.03%	5.30%	-2.20%	1.89%	-13.41%	3.99%	3.14%	2.27%
EBIT Margin	-5.32%	-65.66%	-3.89%	0.03%	5.30%	-2.48%	-7.59%	-13.41%	3.54%	3.14%	2.28%
Profit (Net Income) Margin	-9.86%	-62.49%	-10.58%	-8.34%	-1.93%	-10.85%	-13.07%	-20.99%	-4.08%	-4.54%	3.24%
Tax Burden Percent	98.26%	89.21%	76.24%	95.14%	93.28%	102.07%	90.62%	100.05%	106.42%	114.69%	40.37%
Interest Burden Percent	188.52%	106.67%	356.42%	-34,172.20%	-38.92%	428.01%	189.95%	156.46%	-108.04%	-126.31%	351.61%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	63.17%
Return on Invested Capital (ROIC)	-1.27%	-19.71%	-1.30%	0.01%	1.59%	-0.67%	0.57%	-4.15%	1.24%	1.00%	0.39%
ROIC Less NNEP Spread (ROIC-NNEP)	-2.53%	-25.01%	-3.47%	-3.01%	0.39%	-2.65%	-2.34%	-6.64%	-0.25%	-0.45%	0.92%
Return on Net Nonoperating Assets (RNNOA)	-2.21%	-24.33%	-3.65%	-2.14%	0.37%	-2.73%	-2.61%	-7.32%	-0.28%	-0.50%	1.01%
Return on Equity (ROE)	-3.47%	-44.04%	-4.95%	-2.13%	1.96%	-3.40%	-2.04%	-11.47%	0.97%	0.50%	1.40%
Cash Return on Invested Capital (CROIC)	-75.35%	-80.90%	-78.95%	-78.97%	1.04%	2.70%	4.62%	2.17%	3.67%	2.98%	7.40%
Operating Return on Assets (OROA)	-1.21%	-18.50%	-1.26%	0.01%	1.45%	-0.65%	-2.13%	-3.81%	1.04%	0.88%	0.69%
Return on Assets (ROA)	-2.23%	-17.61%	-3.43%	-2.97%	-0.52%	-2.82%	-3.67%	-5.97%	-1.20%	-1.28%	0.98%
Return on Common Equity (ROCE)	-3.44%	-43.65%	-4.90%	-2.11%	1.94%	-3.37%	-2.01%	-11.31%	0.96%	0.49%	1.38%
Return on Equity Simple (ROE_SIMPLE)	17.42%	6.10%	4.66%	0.00%	-19.94%	-7.27%	-8.11%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-29	-563	-31	0.21	42	-17	15	-108	33	25	9.69
NOPAT Margin	-3.73%	-45.97%	-2.72%	0.02%	3.71%	-1.54%	1.32%	-9.38%	2.79%	2.20%	0.84%
Net Nonoperating Expense Percent (NNEP)	1.27%	5.30%	2.17%	3.02%	1.21%	1.98%	2.91%	2.49%	1.49%	1.45%	-0.53%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-0.25%	-	-	-	0.13%	-0.92%	0.29%	0.22%	0.09%
Cost of Revenue to Revenue	69.88%	62.53%	67.99%	71.62%	63.10%	69.06%	67.80%	68.15%	65.04%	66.26%	67.26%
SG&A Expenses to Revenue	28.16%	93.76%	24.08%	22.03%	22.29%	24.28%	21.18%	36.57%	22.44%	21.19%	20.80%
R&D to Revenue	3.72%	2.73%	3.70%	4.04%	3.42%	2.98%	3.27%	2.94%	2.92%	3.70%	4.06%
Operating Expenses to Revenue	35.44%	103.13%	35.90%	28.36%	31.59%	33.14%	30.31%	45.25%	30.98%	30.60%	30.46%
Earnings before Interest and Taxes (EBIT)	-42	-805	-44	0.30	60	-28	-85	-154	42	36	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	133	-471	293	313	391	327	252	183	383	362	366
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.53	0.44	0.68	0.45	0.32	0.31	0.23	0.30	0.42	0.87	1.02
Price to Tangible Book Value (P/TBV)	1.76	2.20	4.86	2.64	1.71	1.69	1.36	2.04	2.56	5.10	5.29
Price to Revenue (P/Rev)	1.15	0.69	0.92	0.53	0.35	0.34	0.24	0.30	0.42	0.86	1.01
Price to Earnings (P/E)	3.08	7.38	15.25	0.00	0.00	0.00	0.00	0.00	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	32.44%	13.55%	6.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.75	0.73	0.85	0.73	0.67	0.67	0.65	0.68	0.73	0.94	1.01
Enterprise Value to Revenue (EV/Rev)	3.03	2.30	2.41	1.77	1.52	1.51	1.47	1.52	1.61	2.04	2.09
Enterprise Value to EBITDA (EV/EBITDA)	20.39	0.00	1,009.14	28.39	13.38	5.17	4.79	5.47	5.90	7.31	7.46
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	117.75	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	168.21	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	19.36	16.55	18.08	11.04	9.56	9.07	7.92	7.55	7.24	8.82	6.17
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	62.49	24.36	13.68	30.91	19.55	31.09	13.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.22	1.39	1.42	1.42	1.41	1.75	1.45	1.51	1.43	1.44	1.36
Long-Term Debt to Equity	1.21	1.38	1.40	1.41	1.40	1.28	1.35	1.41	1.42	1.43	1.35
Financial Leverage	0.87	0.97	1.05	0.71	0.95	1.03	1.11	1.10	1.11	1.11	1.10
Leverage Ratio	2.81	3.00	3.02	2.69	3.07	3.40	3.23	3.27	3.20	3.39	3.22
Compound Leverage Factor	5.30	3.20	10.76	-920.37	-1.20	14.56	6.13	5.12	-3.45	-4.29	11.32
Debt to Total Capital	54.91%	58.24%	58.61%	58.62%	58.55%	63.68%	59.24%	60.24%	58.86%	59.01%	57.56%
Short-Term Debt to Total Capital	0.45%	0.50%	0.51%	0.47%	0.47%	17.24%	4.26%	4.31%	0.47%	0.44%	0.34%
Long-Term Debt to Total Capital	54.46%	57.74%	58.10%	58.15%	58.08%	46.44%	54.97%	55.92%	58.40%	58.57%	57.22%
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	0.27%	0.30%	0.34%	0.38%	0.48%	0.54%	0.72%	0.78%	0.36%	0.44%	0.57%
Common Equity to Total Capital	44.81%	41.46%	41.05%	40.99%	40.97%	35.78%	40.04%	38.99%	40.78%	40.55%	41.87%
Debt to EBITDA	17.75	-38.38	802.89	26.85	13.67	6.62	5.06	5.61	5.29	5.15	4.85
Net Debt to EBITDA	12.56	-28.02	620.92	19.75	10.23	3.96	3.94	4.33	4.34	4.19	3.81
Long-Term Debt to EBITDA	17.60	-38.05	795.96	26.63	13.56	4.83	4.69	5.21	5.24	5.11	4.82
Debt to NOPAT	-73.83	-10.96	-10.81	-11.54	-13.02	-1,464.75	177.76	-103.11	-85.10	-187.78	-199.22
Net Debt to NOPAT	-52.25	-8.00	-8.36	-8.49	-9.74	-876.08	138.47	-79.49	-69.88	-152.70	-156.52
Long-Term Debt to NOPAT	-73.22	-10.87	-10.72	-11.45	-12.91	-1,068.16	164.96	-95.73	-84.42	-186.37	-198.05
Altman Z-Score	0.53	0.37	0.60	0.57	0.57	0.43	0.42	0.40	0.49	0.61	0.66
Noncontrolling Interest Sharing Ratio	0.99%	0.88%	0.98%	0.93%	0.86%	1.09%	1.28%	1.42%	1.01%	1.29%	1.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.33	2.62	2.71	2.68	3.08	1.44	1.80	1.72	2.11	2.08	2.13
Quick Ratio	1.85	1.69	1.69	1.99	2.32	1.21	1.40	1.38	1.60	1.63	1.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-6,047	-6,166	-5,650	-5,418	706	270	462	183	486	360	777
Operating Cash Flow to CapEx	27.65%	59.87%	31.74%	61.39%	50.19%	104.54%	86.87%	120.47%	130.53%	132.07%	257.10%
Free Cash Flow to Firm to Interest Expense	-108.11	-71.57	-42.31	-43.43	6.68	2.34	4.90	0.89	4.83	3.86	7.84
Operating Cash Flow to Interest Expense	1.85	2.54	1.00	1.86	1.43	2.07	2.32	1.45	2.57	3.02	7.33
Operating Cash Flow Less CapEx to Interest Expense	-4.85	-1.70	-2.15	-1.17	-1.42	0.09	-0.35	0.25	0.60	0.73	4.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.23	0.28	0.32	0.36	0.27	0.26	0.28	0.28	0.29	0.28	0.30
Accounts Receivable Turnover	5.51	6.75	7.27	7.80	6.99	6.55	6.83	6.56	6.61	6.55	6.60
Inventory Turnover	5.62	7.75	8.37	9.90	9.22	9.15	9.12	9.90	10.03	10.11	10.14
Fixed Asset Turnover	0.42	0.57	0.66	0.72	0.55	0.60	0.61	0.60	0.61	0.62	0.62
Accounts Payable Turnover	6.29	7.22	8.36	10.39	10.08	9.69	11.52	10.99	13.03	11.02	11.66
Days Sales Outstanding (DSO)	66.28	54.09	50.17	46.78	52.24	55.70	53.46	55.63	55.22	55.75	55.29
Days Inventory Outstanding (DIO)	64.89	47.09	43.62	36.88	39.58	39.90	40.03	36.86	36.38	36.11	36.00
Days Payable Outstanding (DPO)	58.06	50.57	43.64	35.14	36.20	37.68	31.68	33.22	28.01	33.11	31.30
Cash Conversion Cycle (CCC)	73.11	50.60	50.15	48.53	55.62	57.91	61.81	59.27	63.59	58.75	59.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11,127	10,550	10,780	10,359	10,463	10,263	10,332	10,069	10,009	9,927	9,565
Invested Capital Turnover	0.34	0.43	0.48	0.56	0.43	0.44	0.43	0.44	0.45	0.45	0.46
Increase / (Decrease) in Invested Capital	6,018	5,603	5,619	5,418	-665	-287	-448	-290	-453	-335	-767
Enterprise Value (EV)	8,361	7,650	9,157	7,600	7,032	6,853	6,664	6,860	7,350	9,337	9,657
Market Capitalization	3,173	2,290	3,480	2,267	1,598	1,526	1,093	1,345	1,903	3,934	4,661
Book Value per Share	$77.22	$41.84	$40.99	$40.10	$39.96	$38.63	$37.08	$35.27	$35.01	$33.69	$33.78
Tangible Book Value per Share	$23.42	$8.40	$5.75	$6.86	$7.41	$7.05	$6.25	$5.12	$5.71	$5.74	$6.51
Total Capital	13,254	12,519	12,431	12,260	12,274	13,792	11,889	11,681	11,187	11,157	10,911
Total Debt	7,278	7,291	7,285	7,187	7,187	8,783	7,043	7,036	6,585	6,584	6,280
Total Long-Term Debt	7,218	7,228	7,223	7,129	7,129	6,405	6,536	6,532	6,533	6,535	6,244
Net Debt	5,151	5,322	5,634	5,286	5,375	5,253	5,486	5,424	5,407	5,354	4,934
Capital Expenditures (CapEx)	375	366	421	378	301	229	253	248	198	214	283
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-112	604	771	340	494	386	212	103	169	82	94
Debt-free Net Working Capital (DFNWC)	2,015	2,572	2,423	2,241	2,305	3,915	1,768	1,715	1,347	1,313	1,440
Net Working Capital (NWC)	1,955	2,510	2,360	2,183	2,247	1,537	1,261	1,211	1,294	1,263	1,403
Net Nonoperating Expense (NNE)	48	202	89	96	64	105	162	133	80	77	-28
Net Nonoperating Obligations (NNO)	5,151	5,322	5,634	5,286	5,375	5,253	5,486	5,424	5,407	5,354	4,934
Total Depreciation and Amortization (D&A)	175	334	337	313	331	355	338	337	342	326	340
Debt-free, Cash-free Net Working Capital to Revenue	-4.06%	18.17%	20.30%	7.94%	10.66%	8.52%	4.68%	2.28%	3.71%	1.80%	2.04%
Debt-free Net Working Capital to Revenue	72.98%	77.42%	63.76%	52.32%	49.78%	86.49%	39.10%	37.95%	29.50%	28.64%	31.20%
Net Working Capital to Revenue	70.81%	75.53%	62.10%	50.96%	48.53%	33.96%	27.89%	26.80%	28.36%	27.56%	30.40%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.83)	($6.16)	($0.99)	($1.14)	($0.26)	($1.07)	($1.23)	($1.92)	($0.43)	($0.45)	$0.18
Adjusted Weighted Average Basic Shares Outstanding	93.11M	124.53M	125.10M	117.19M	126.58M	128.38M	128.94M	128.48M	131.58M	135.12M	135.73M
Adjusted Diluted Earnings per Share	($0.83)	($6.16)	($0.99)	($1.14)	($0.26)	($1.07)	($1.23)	($1.92)	($0.43)	($0.45)	$0.18
Adjusted Weighted Average Diluted Shares Outstanding	93.11M	124.53M	125.10M	117.19M	126.58M	128.38M	128.94M	128.48M	131.58M	135.12M	140.92M
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	124.05M	124.51M	125.32M	125.86M	127.78M	128.39M	129.12M	130.32M	134.26M	135.26M	135.83M
Normalized Net Operating Profit after Tax (NOPAT)	-29	-563	-31	0.21	42	-17	15	-108	33	25	18
Normalized NOPAT Margin	-3.73%	-45.97%	-2.72%	0.02%	3.71%	-1.54%	1.32%	-9.38%	2.79%	2.20%	1.59%
Pre Tax Income Margin	-10.04%	-70.04%	-13.87%	-8.77%	-2.06%	-10.63%	-14.43%	-20.98%	-3.83%	-3.96%	8.03%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.74	-9.34	-0.33	0.00	0.56	-0.24	-0.90	-0.75	0.41	0.38	0.27
NOPAT to Interest Expense	-0.52	-6.54	-0.23	0.00	0.40	-0.15	0.16	-0.52	0.32	0.27	0.10
EBIT Less CapEx to Interest Expense	-7.44	-13.58	-3.48	-3.03	-2.28	-2.23	-3.58	-1.95	-1.56	-1.90	-2.59
NOPAT Less CapEx to Interest Expense	-7.22	-10.78	-3.38	-3.03	-2.45	-2.13	-2.52	-1.72	-1.64	-2.02	-2.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-8.24%	-12.25%	-19.72%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-8.24%	-12.25%	-19.72%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven snapshot of Viasat (VSAT) using the latest quarterly statements. The focus is on trends over the last four years, highlighting what could matter to retail investors.

Revenue growth: Q3 2026 operating revenue was about $1.157 billion, up from roughly $1.123 billion in Q3 2025.
Gross margin remains in the low-30s: for Q3 2026, gross profit was about $378.8 million on $1.157 billion in revenue (roughly 32.7% gross margin).
Operating income turned positive in Q3 2026 (about $26.3 million), signaling a potential improvement in quarterly profitability.
Cash flow from operating activities is consistently positive in the latest periods, with Q3 2026 CFO around $726.9 million and other recent quarters also reporting solid CFO.
Free cash flow is meaningful in the most recent quarter: approximately $440 million in Q3 2026 (CFO ≈ $726.9M minus capex ≈ $282.7M).
Liquidity appears solid: cash and cash equivalents around $1.35 billion in Q3 2026, total current assets near $2.65 billion, and total current liabilities about $1.25 billion (current ratio above ~2x).
R&D and selling, general & administrative expenses remain sizeable and investment-focused, which supports longer-term growth but pressures near-term margins.
Long-term debt remains high (roughly $6.2–7.0 billion over the period), implying notable leverage and interest costs, though cash buffers help. This is a mixed signal depending on how the company funds growth going forward.
Net income has been negative in most quarters over the four-year span; Q3 2026 is a rare quarterly positive, underscoring ongoing profitability volatility.
Interest expense continues to weigh on bottom-line results, even in quarters with positive operating income.

05/17/26 06:24 PM ETAI Generated. May Contain Errors.

Viasat Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Viasat's fiscal year ends in March. Their fiscal year 2025 ended on March 31, 2025.

Viasat's net income appears to be on an upward trend, with a most recent value of -$531.13 million in 2025, falling from $39.89 million in 2015. The previous period was -$1.06 billion in 2024. See where experts think Viasat is headed by visiting Viasat's forecast page.

Viasat's total operating income in 2025 was -$97.48 million, based on the following breakdown:

Total Gross Profit: $1.49 billion
Total Operating Expenses: $1.59 billion

Over the last 10 years, Viasat's total revenue changed from $1.38 billion in 2015 to $4.52 billion in 2025, a change of 226.9%.

Viasat's total liabilities were at $10.80 billion at the end of 2025, a 4.0% decrease from 2024, and a 869.3% increase since 2015.

In the past 10 years, Viasat's cash and equivalents has ranged from $42.09 million in 2016 to $1.90 billion in 2024, and is currently $1.61 billion as of their latest financial filing in 2025.

Over the last 10 years, Viasat's book value per share changed from 21.80 in 2015 to 35.27 in 2025, a change of 61.8%.

Related Companies

Financial statements for NASDAQ:VSAT last updated on 2/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Viasat (VSAT) Financials

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