VSAT · Viasat Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $4.52B | $4.28B | $2.56B | $2.79B | $2.26B | $2.31B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | $142.39M | $150.65M | $128.92M | $153.20M | $115.79M | $130.43M |
| SG&A | $1.18B | $1.89B | $718.63M | $657.25M | $512.32M | $523.09M |
| Total Operating Expenses | $4.95B | - | - | - | - | - |
| D&A | $1.04B | $867.64M | $409.56M | $407.38M | $330.86M | $279.73M |
| Operating Income | ($97.48M) | ($889.81M) | ($155.96M) | $8.33M | $58.23M | $38.42M |
| Interest Expense | $421.94M | $400.40M | $26.81M | $29.39M | $32.69M | $38.64M |
| Income Tax | ($941.0K) | ($139.47M) | $49.42M | ($14.24M) | $9.44M | ($7.92M) |
| Net Income | ($574.96M) | ($1.07B) | $3.69M | ($15.53M) | $3.69M | ($212.0K) |
| EPS - Basic | ($4.48) | ($9.12) | $14.29 | ($0.21) | $0.06 | $0.00 |
| EPS - Diluted | ($4.48) | ($9.12) | $14.29 | ($0.21) | $0.06 | $0.00 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.61B | $1.90B | $1.35B | $310.46M | $295.95M | $304.31M |
| Accounts Receivable | $699.55M | $678.21M | $419.93M | $359.27M | $238.65M | $330.70M |
| Inventory | $293.94M | $317.88M | $268.56M | $341.89M | $336.67M | $294.42M |
| Accounts Payable | $264.30M | $287.21M | $271.55M | $219.09M | $145.13M | $183.60M |
| Current Assets | $2.89B | $3.48B | $2.24B | $1.16B | $991.23M | $1.05B |
| Total Assets | $15.45B | $16.33B | $7.73B | $6.39B | $5.35B | $4.88B |
| Current Liabilities | $1.68B | $1.30B | $956.72M | $770.42M | $708.44M | $604.58M |
| Long-term Debt | - | - | - | $2.49B | $1.83B | $1.85B |
| Total Liabilities | $10.80B | $11.26B | $3.87B | $3.71B | $2.96B | $2.83B |
| Stockholders' Equity | $4.55B | $5.03B | $3.82B | $2.63B | $2.35B | $2.03B |
| Retained Earnings | ($325.53M) | $249.43M | $1.32B | $233.53M | $249.06M | $245.37M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $908.19M | $688.20M | $367.86M | $505.64M | $727.22M | $436.94M |
| Investing Cash Flow | ($758.36M) | ($1.29B) | $768.04M | ($1.13B) | ($885.27M) | ($758.80M) |
| Financing Cash Flow | ($442.59M) | $1.12B | ($66.13M) | $643.63M | $149.69M | $365.19M |
| CapEx | - | - | $1.08B | $938.28M | $827.24M | $693.97M |
| Free Cash Flow | - | - | ($709.11M) | ($432.64M) | ($100.03M) | ($257.03M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | -2.2% | -20.8% | -6.1% | 0.3% | 2.6% | 1.7% |
| EBITDA margin | 20.8% | -0.5% | 9.9% | 14.9% | 17.2% | 13.8% |
| Net margin | -12.7% | -25.0% | 0.1% | -0.6% | 0.2% | -0.0% |
| Free cash flow margin | - | - | -27.7% | -15.5% | -4.4% | -11.1% |
| FCF / Net income | - | - | -192.12 | 27.85 | -27.10 | 1212.41 |
| R&D / Revenue | 3.2% | 3.5% | 5.0% | 5.5% | 5.1% | 5.6% |
| SG&A / Revenue | 26.1% | 44.2% | 28.1% | 23.6% | 22.7% | 22.7% |
| Effective tax rate | - | - | 93.1% | - | 71.9% | - |
| Return on assets | -3.7% | -6.5% | 0.0% | -0.2% | 0.1% | -0.0% |
| Return on equity | -12.6% | -21.3% | 0.1% | -0.6% | 0.2% | -0.0% |
| Return on invested capital | - | - | - | 0.1% | 0.7% | 0.8% |
| Liquidity | ||||||
| Current ratio | 1.72 | 2.68 | 2.35 | 1.50 | 1.40 | 1.73 |
| Quick ratio | 1.55 | 2.44 | 2.07 | 1.06 | 0.92 | 1.24 |
| Cash ratio | 0.96 | 1.47 | 1.41 | 0.40 | 0.42 | 0.50 |
| Leverage | ||||||
| Debt / Equity | - | - | - | 0.94 | 0.78 | 0.91 |
| Debt / Assets | - | - | - | 0.39 | 0.34 | 0.38 |
| Debt / EBITDA | - | - | - | 5.98 | 4.71 | 5.82 |
| Interest coverage | -0.2x | -2.2x | -5.8x | 0.3x | 1.8x | 1.0x |
| Equity multiplier | 3.39 | 3.25 | 2.02 | 2.43 | 2.27 | 2.41 |
| Liabilities / Assets | 0.70 | 0.69 | 0.50 | 0.58 | 0.55 | 0.58 |
| Efficiency | ||||||
| Asset turnover | 0.29 | 0.26 | 0.33 | 0.44 | 0.42 | 0.47 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 56d | 58d | 60d | 47d | 39d | 52d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | 2.4x | - | 801.2x | - |
| P / B | 0.3x | 0.4x | 0.7x | 1.4x | 1.4x | 1.1x |
| P / S | 0.3x | 0.5x | 1.0x | 1.3x | 1.4x | 1.0x |
| EV / EBITDA | -0.3x | - | 4.8x | 13.8x | 12.2x | 11.8x |
| Growth | ||||||
| Revenue growth (YoY) | 5.5% | 67.6% | -8.3% | 23.6% | -2.3% | 48.1% |
| Revenue CAGR (3y) | 17.5% | 23.8% | 3.4% | 21.4% | 12.3% | - |
| Revenue CAGR (5y) | 14.4% | 22.4% | 9.9% | - | 7.7% | 10.8% |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | 89.0% | -470.5% | - | -85.7% | 51.6% | - |
| Net income growth (YoY) | 46.2% | - | - | - | - | 99.7% |
| EPS growth (YoY) | 50.9% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | -33.2% | - |
| FCF growth (YoY) | - | - | -63.9% | -332.5% | 61.1% | 16.9% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -9.4% | 31.4% | 45.2% | 12.0% | 16.0% | 6.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-03-31.
Business segments
$4.64B totalCommunication Services$3.30B · 71.1%
Defense And Advanced Technologies$1.34B · 28.9%
Product / service
$8.82B totalService$3.27B · 37.1%
Product$1.37B · 15.5%
Aviation Services$1.19B · 13.5%
Government Satcom Services$795.04M · 9.0%
Fixed Services And Other Services$607.69M · 6.9%
Maritime Services$463.06M · 5.2%
Information Security And Cyber Defense Products$414.48M · 4.7%
Space And Mission Systems Products$330.87M · 3.8%
Tactical Networking Products$329.42M · 3.7%
Advanced Technologies And Other Products$48.66M · 0.6%
Geographic
$4.64B totalUS$3.16B · 68.1%
Non Us$1.48B · 31.9%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.49
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Communications Services, NEC
Comparing VIASAT INC against the 5 most active filers in the same SIC group.