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Investment Highlights Market Valuation Price Chart Return vs. Risk About VSAT Interactive Breakdown Better Bets vs. VSAT Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Viasat (VSAT)

Market Price (10/23/2025): $34.73 | Market Cap: $4.6 Bil
Sector: Information Technology | Industry: Communications Equipment

Viasat (VSAT)

Market Price (10/23/2025): $34.73
Market Cap: $4.6 Bil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%		 Weak multi-year price returns
3Y Excs Rtn is -91%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -111 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.4%
1  Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 130%
2   Stock price has recently run up significantly
6M Rtn6 month market price return is 311%, 12M Rtn12 month market price return is 226%
3   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.4%
4   Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 73%
5   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%
1 Weak multi-year price returns
3Y Excs Rtn is -91%
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -111 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.4%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 130%
5 Stock price has recently run up significantly
6M Rtn6 month market price return is 311%, 12M Rtn12 month market price return is 226%
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.4%
7 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 73%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -18%

Market Valuation & Key Metrics

VSATS&P 500
REVENUE GROWTH 
Rev LTM ($ Bil)4.6
Rev Chg Q4.0%6.1%
Rev Chg LTM-1.4%5.2%
Rev Chg 3Y Avg26.8%5.4%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-0.1
CFO LTM ($ Bil)1.0
Net Inc LTM ($ Bil)-0.6
Op Mgn LTM-2.4%18.6%
CFO/Rev LTM22.3%20.4%
Net Inc Mgn-13.1%12.7%
VALUATIONHIGH
P/S1.03.3
P/CFO4.516.1
P/FCF51.721.2
P/E-7.624.5
STABILITYPOOR
Debt/Equity1.550.21
Cash/Assets0.080.07

VSAT Stock

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
VSAT Return-55%36%-29%-12%-70%306%-51%
Peers Return39%30%-23%15%13%10%99%
S&P 500 Return16%27%-19%24%23%14%106%

Monthly Win Rates [3]
VSAT Win Rate25%67%50%50%17%56% 
Peers Win Rate60%63%32%45%50%58% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
VSAT Max Drawdown-62%-3%-41%-51%-76%-12% 
Peers Max Drawdown-37%-8%-31%-17%-19%-22% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: QCOM, MSI, NTAP, QRVO, ADTN. See VSAT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/22/2025 (YTD)

How Low Can It Go

Unique KeyEventVSATS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-76.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven332.8%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-62.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven168.0%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-29.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven42.0%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven105 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-57.4%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven134.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven549 days1480 days

Compare to QCOM, MSI, NTAP, QRVO, ADTN


In The Past

Viasat's stock fell -76.9% during the 2022 Inflation Shock from a high on 11/5/2021. A -76.9% loss requires a 332.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Viasat (VSAT)

Better Bets than Viasat (VSAT)

 VSATBetter Performance than VSAT
MetricValueIndustry (Communications Equipment)
Rev Chg LTM-1.4%CSCO (5.3%), ANET (26.0%), MSI (6.4%), UI (33.4%), NOK (1.1%)
Rev Chg 3Y Avg26.8%ANET (32.1%), ASTS (35.3%), ONDS (155.5%), ADTN (30.7%), FKWL (36.0%)
Op Mgn LTM-2.4%CSCO (22.1%), ANET (43.1%), MSI (25.1%), UI (32.5%), ERIC (15.4%)
CFO/Rev LTM22.3%CSCO (25.1%), ANET (50.9%), MSI (23.5%), UI (24.9%), FFIV (32.7%)
FCF/Rev LTM1.9%CSCO (23.5%), ANET (50.0%), MSI (21.5%), UI (24.4%), ERIC (12.7%)
Total Yield-13.2%CSCO (5.9%), ANET (1.8%), MSI (3.8%), UI (2.0%), ERIC (77.7%)
 VSATBetter Performance than VSAT
MetricValueAll Other Sectors
Rev Chg LTM-1.4%GOOGL (13.1%), AMZN (10.9%), META (19.4%), WMT (4.2%), JPM (8.2%)
Rev Chg 3Y Avg26.8%HOOD (30.0%), KKR (27.5%), DASH (28.4%), MELI (39.8%), RCL (65.4%)
Op Mgn LTM-2.4%GOOGL (32.7%), AMZN (11.4%), META (42.9%), TSLA (6.2%), WMT (4.2%)
CFO/Rev LTM22.3%GOOGL (36.0%), META (56.4%), V (60.4%), MA (53.3%), JNJ (26.3%)
FCF/Rev LTM1.9%GOOGL (18.0%), AMZN (2.0%), META (30.7%), TSLA (6.0%), WMT (2.0%)
Total Yield-13.2%GOOGL (4.1%), AMZN (3.0%), META (3.9%), TSLA (0.4%), WMT (3.3%)
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Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Viasat Earnings Notes  
2With Viasat Stock Climbed 25% In A Month, How Confident Are You?Return 
3Day 6 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/28/2025]Notification 
4Day 5 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/27/2025]Notification 
5How Does Viasat Stock Compare With Peers?Peer Comparison 
6Day 6 of Gains Streak for Viasat Stock with 89% Return (vs. 227% YTD) [8/6/2025]Notification 
7Day 5 of Gains Streak for Viasat Stock with 45% Return (vs. 150% YTD) [8/5/2025]Notification 
8VSAT Dip Buy Analysis  
9Viasat Total Shareholder Return (TSR): -42.4% in 2025 and -40.2% 3-yr compounded annual returns (below peer average)  
10Day 5 of Loss Streak for Viasat Stock with -20% Return (vs. 8.6% YTD) [1/31/2025]Notification 
11ARTICLES  
12VSAT Stock Up 25% after 6-Day Win Streak August 29th, 2025
13VSAT Stock Up 25% after 5-Day Win Streak August 27th, 2025
14VSAT Stock Up 89% after 6-Day Win Streak August 7th, 2025
15Market Movers | Winners: GO, VSAT, ALAB | Losers: BLMN, LNTH, EOLS August 7th, 2025
16VSAT Stock Up 45% after 5-Day Win Streak August 6th, 2025
Title
0DASHBOARDS
1VSAT Stock Up 25% after 6-Day Win Streak
2VSAT Stock Up 25% after 5-Day Win Streak
3VSAT Stock Up 89% after 6-Day Win Streak
4Market Movers | Winners: GO, VSAT, ALAB | Losers: BLMN, LNTH, EOLS
5VSAT Stock Up 45% after 5-Day Win Streak
6ARTICLES
7Viasat Earnings Notes
8With Viasat Stock Climbed 25% In A Month, How Confident Are You?
9Day 6 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/28/2025]
10Day 5 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/27/2025]
11How Does Viasat Stock Compare With Peers?
12Day 6 of Gains Streak for Viasat Stock with 89% Return (vs. 227% YTD) [8/6/2025]
13Day 5 of Gains Streak for Viasat Stock with 45% Return (vs. 150% YTD) [8/5/2025]
14VSAT Dip Buy Analysis
15Viasat Total Shareholder Return (TSR): -42.4% in 2025 and -40.2% 3-yr compounded annual returns (below peer average)
16Day 5 of Loss Streak for Viasat Stock with -20% Return (vs. 8.6% YTD) [1/31/2025]

Trade Ideas

Select past ideas related to VSAT. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.1%11.1%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.7%11.7%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		11.7%11.7%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.2%3.2%-0.3%
VSAT_7312025_Short_Squeeze07312025VSATViasatSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		123.3%123.3%0.0%
VSAT_1312025_Short_Squeeze01312025VSATViasatSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		72.3%281.3%-20.0%
VSAT_6302022_Dip_Buyer_High_CFO_Margins_ExInd_DE06302022VSATViasatDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		3.7%34.7%-14.7%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		1.4%1.4%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.1%11.1%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		11.7%11.7%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		11.7%11.7%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		3.2%3.2%-0.3%
VSAT_7312025_Short_Squeeze07312025VSATViasatSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		123.3%123.3%0.0%
VSAT_1312025_Short_Squeeze01312025VSATViasatSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		72.3%281.3%-20.0%
VSAT_6302022_Dip_Buyer_High_CFO_Margins_ExInd_DE06302022VSATViasatDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		3.7%34.7%-14.7%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PRAXPraxis Precision Medicines221.6%139.6%
2VICRVicor49.6%77.5%
3CCOClear Channel Outdoor41.2%40.1%
4CELCCelcuity40.0%435.1%
5WGOWinnebago Industries34.9%-11.6%
6BALYBallys27.4%-2.4%
7TFINTriumph Financial27.3%-32.9%
8SIONSionna Therapeutics25.8% 
9LVWRLiveWire24.4%29.1%
10PMIPicard Medical24.4%20804.8%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BITFBitfarms-39.1%164.4%
2QBTSD-Wave Quantum-39.1%224.9%
3RGTIRigetti Computing-36.0%136.3%
4SMRNuScale Power-35.0%93.6%
5RCATRed Cat-31.9%-22.3%
6BKSYBlackSky Technology-31.3%101.3%
7OKLOOklo-30.0%465.8%
8QUBTQuantum Computing-30.0%-10.2%
9SESSES AI-29.9%13.2%
10ASPIASP Isotopes-29.4%96.7%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1366.7%342.6%
2QUREuniQure338.6%239.2%
3PRAXPraxis Precision Medicines279.5%139.6%
4LACLithium Americas117.9%125.3%
5CLPTClearPoint Neuro99.8%57.9%
6NVTSNavitas Semiconductor97.7%281.1%
7UAMYUnited States Antimony79.6%640.7%
8ORKAOruka Therapeutics71.3%37.4%
9GRALGRAIL69.8%346.8%
10TSHATaysha Gene Therapies69.2%185.5%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1SOCSable Offshore-51.7%-48.4%
2FLYFirefly Aerospace-37.4% 
3UPWheels Up Experience-37.0%-12.1%
4VGVenture Global-34.5% 
5PSIXPower Solutions International-33.0%160.7%
6ALABAstera Labs-32.7%16.9%
7FWRDForward Air-30.6%-41.0%
8QUBTQuantum Computing-30.5%-10.2%
9AEHRAehr Test Systems-29.6%42.4%
10TIPTTiptree-29.0%-15.1%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PRAXPraxis Precision Medicines221.6%139.6%
2VICRVicor49.6%77.5%
3CCOClear Channel Outdoor41.2%40.1%
4CELCCelcuity40.0%435.1%
5WGOWinnebago Industries34.9%-11.6%
6BALYBallys27.4%-2.4%
7TFINTriumph Financial27.3%-32.9%
8SIONSionna Therapeutics25.8% 
9LVWRLiveWire24.4%29.1%
10PMIPicard Medical24.4%20804.8%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BITFBitfarms-39.1%164.4%
2QBTSD-Wave Quantum-39.1%224.9%
3RGTIRigetti Computing-36.0%136.3%
4SMRNuScale Power-35.0%93.6%
5RCATRed Cat-31.9%-22.3%
6BKSYBlackSky Technology-31.3%101.3%
7OKLOOklo-30.0%465.8%
8QUBTQuantum Computing-30.0%-10.2%
9SESSES AI-29.9%13.2%
10ASPIASP Isotopes-29.4%96.7%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Viasat

Financials

VSATQCOMMSINTAPQRVOADTNMedian
NameViasat Qualcomm Motorola.NetApp Qorvo Adtran  
Mkt Price34.58169.27446.86116.7690.679.21103.72
Mkt Cap4.5184.874.523.58.40.715.9
Rev LTM4,56443,25711,0946,5903,6519835,577
Op Inc LTM-11112,0192,7851,436217-62827
FCF LTM8811,6222,3841,658587541,123
FCF 3Y Avg-49310,3512,0471,380597-20988
CFO LTM1,01612,6632,6121,8387241211,427
CFO 3Y Avg72811,6542,2931,563736331,150

Growth & Margins

VSATQCOMMSINTAPQRVOADTNMedian
NameViasat Qualcomm Motorola.NetApp Qorvo Adtran  
Rev Chg LTM-1.4%15.8%6.4%3.3%-8.8%3.5%3.4%
Rev Chg 3Y Avg26.8%1.4%9.5%0.8%-4.5%30.7%5.5%
Rev Chg Q4.0%10.3%5.2%1.2%-7.7%17.3%4.6%
QoQ Delta Rev Chg LTM1.0%2.3%1.3%0.3%-1.8%4.1%1.1%
Op Mgn LTM-2.4%27.8%25.1%21.8%5.9%-6.3%13.9%
Op Mgn 3Y Avg-8.2%26.5%23.8%20.2%5.1%-12.3%12.7%
QoQ Delta Op Mgn LTM-0.3%0.6%0.1%0.1%0.8%2.9%0.4%
CFO/Rev LTM22.3%29.3%23.5%27.9%19.8%12.3%22.9%
CFO/Rev 3Y Avg17.9%29.4%21.9%24.4%20.3%4.1%21.1%
FCF/Rev LTM1.9%26.9%21.5%25.2%16.1%5.5%18.8%
FCF/Rev 3Y Avg-14.7%26.1%19.6%21.5%16.4%-1.0%18.0%

Valuation

VSATQCOMMSINTAPQRVOADTNMedian
NameViasat Qualcomm Motorola.NetApp Qorvo Adtran  
Mkt Cap4.5184.874.523.58.40.715.9
P/S1.04.36.73.62.30.72.9
P/EBIT-30.314.324.916.047.2-11.415.1
P/E-7.616.035.220.0104.3-6.218.0
P/CFO4.514.628.512.811.66.112.2
Total Yield-13.2%8.3%3.8%6.8%1.0%-16.1%2.4%
Dividend Yield0.0%2.1%0.9%1.8%0.0%0.0%0.5%
FCF Yield 3Y Avg-20.9%5.8%3.3%6.6%6.2%-2.3%4.6%
D/E1.60.10.10.10.20.30.2
Net D/E1.30.00.1-0.00.00.20.1

Returns

VSATQCOMMSINTAPQRVOADTNMedian
NameViasat Qualcomm Motorola.NetApp Qorvo Adtran  
1M Rtn15.9%-0.3%-5.2%-5.9%-5.9%-4.6%-4.9%
3M Rtn124.5%6.5%6.1%10.8%2.4%-2.5%6.3%
6M Rtn310.7%21.9%5.9%38.8%51.3%22.6%30.7%
12M Rtn226.1%-0.1%-4.0%-0.5%-10.0%46.4%-0.3%
3Y Rtn-9.2%56.7%104.1%90.5%6.1%-50.3%31.4%
1M Excs Rtn15.4%-0.8%-5.7%-5.6%-4.0%-4.3%-4.2%
3M Excs Rtn133.7%1.9%0.1%6.8%-0.1%-4.8%1.0%
6M Excs Rtn286.1%-2.7%-18.8%14.2%26.7%-2.0%6.1%
12M Excs Rtn196.7%-13.0%-19.3%-20.1%-27.5%31.5%-16.1%
3Y Excs Rtn-91.4%-19.6%27.2%15.7%-70.2%-134.0%-44.9%

Comparison Analyses

Financials

$ Mil | FY: 3/312026Q12025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q2
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/8/20255/27/20252/10/202511/8/20248/9/20245/29/20242/9/202411/9/20238/9/20235/22/20232/9/202311/9/2022
Key Financials Quarterly            
Total Revenue1,1711,1471,1241,1221,1261,1501,1291,225780666651664
Ebitda397203270351414337314-4381526694136
Operating Income47-15421-25600-44-805-42-73-315
Net Income-56-246-158-138-33-100-124-767-771,197-42-48
EPS-0.43-1.89-1.23-1.07-0.26-0.80-0.99-6.16-0.8315.56-0.55-0.64
Key Financials TTM            
Total Revenue TTM4,5644,5204,5234,5274,6304,2843,8003,3232,7612,5562,4972,471
Ebitda TTM1,2211,2371,3711,41562536494-126449365376381
Operating Income TTM-111-9757-9-789-890-963-950-141-156-132-129
Net Income TTM-598-575-429-395-1,025-1,0692283101,0291,085-141-106
Growth Rates Quarterly            
Total Revenue Growth4.0%-0.3%-0.4%-8.4%44.5%72.6%73.2%84.7%35.6%9.8%4.2%8.9%
EBITDA Growth-4.0%-39.7%-13.9%180.0%171.7%407.9%232.9%-422.4%122.0%-14.3%-5.1%32.3%
Operating Income Growth-21.9%-52230.5%148.4%96.9%243.9%100.4%-40.3%-17275.4%26.7%-49.4%-9.0%119.2%
Net Income Growth-71.5%-145.4%-27.3%82.1%57.3%-108.4%-194.6%-1490.5%-257.1%4201.6%-538.6%-1565.8%
Margins Quarterly            
EBITDA Margin33.9%17.7%24.0%31.2%36.7%29.3%27.8%-35.8%19.5%9.9%14.5%20.5%
Operating Income Margin4.0%-13.4%1.9%-2.2%5.3%0.0%-3.9%-65.7%-5.3%-10.9%-4.8%0.7%
Net Income Margin-4.8%-21.5%-14.1%-12.3%-2.9%-8.7%-11.0%-62.6%-9.9%179.7%-6.5%-7.3%
Cash & Debt            
Total Cash1,1771,6121,5563,5301,8121,9011,6511,9622,0931,349182149
Total Debt7,0867,5167,5169,2637,6267,6387,7447,7547,7642,7833,2733,026
Net Debt / (Cash)5,9085,9035,9595,7345,8145,7376,0935,7935,6721,4343,0912,877
Cash Flows Quarterly            
FCF from Operations2582982192391512321342191045089188
Cash Flows TTM            
FCF from Operations TTM1,016908842756736688506462432368437506
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases50-0-010-0-0211530
Return on Invested Capital (ROIC) Quarterly            
ROIC1.7%-5.7%0.7%-0.9%2.2%0.0%-1.3%-27.3%-1.6%-6.3%-2.3%0.4%
Return on Invested Capital (ROIC) TTM            
ROIC TTM-1.0%-0.9%0.5%-0.1%-6.5%-7.5%-7.8%-8.2%-1.4%-4.0%-2.4%-2.4%

Segment Financials

Revenue by Segment

$ Mil20252024202320222021
Communication services3,1421,705   
Defense and advanced technologies1,142851   
Elimination of intersegment revenues0000 
Commercial networks  512321345
Government systems  7167311,138
Satellite services  1,189869827
Total4,2842,5562,4171,9212,309


Operating Income by Segment
$ Mil20252024202320222021
Defense and advanced technologies15463   
Elimination of intersegment operating profits (losses)0000 
Amortization of acquired intangible assets-227-30-29-5-8
Communication services-817-189   
Commercial networks  -209-206-187
Corporate  00 
Government systems  93140226
Satellite services  32267
Total-890-156-113-4638


Price Behavior

VSAT Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta3.564.833.831.461.581.69
Up Beta9.549.479.881.311.631.88
Down Beta-0.30-1.56-0.991.261.471.68
Up Capture92%828%546%434%330%283%
Bmk +ve Days13233574144420
Stock +ve Days10233467122368
Down Capture540%225%23%110%113%109%
Bmk -ve Days8192952107330
Stock -ve Days11192853121373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity15,555,623
Short Interest: % Change Since 915202512.1%
Average Daily Volume3,497,866
Days-to-Cover Short Interest4.45
Basic Shares Quantity131,578,000
Short % of Basic Shares11.8%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/202530.7%21.0%41.4%
5/20/2025-4.9%-12.3%22.4%
2/6/202519.5%-3.0%1.2%
11/6/2024-7.8%-23.2%-14.4%
8/7/202437.8%-5.6%-3.9%
5/21/2024-16.5%-16.1%-28.7%
2/6/2024-18.2%-16.6%-15.5%
11/8/20236.9%12.6%36.3%
...
SUMMARY STATS   
# Positive131113
# Negative111311
Median Positive6.9%12.6%5.7%
Median Negative-11.1%-6.0%-18.4%
Max Positive37.8%26.4%41.4%
Max Negative-19.3%-23.2%-31.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025808202510-Q 6/30/2025
3312025527202510-K 3/31/2025
12312024210202510-Q 12/31/2024
93020241108202410-Q 9/30/2024
6302024809202410-Q 6/30/2024
3312024529202410-K 3/31/2024
12312023209202410-Q 12/31/2023
93020231109202310-Q 9/30/2023
6302023809202310-Q 6/30/2023
3312023522202310-K 3/31/2023
12312022209202310-Q 12/31/2022
93020221109202210-Q 9/30/2022
6302022809202210-Q 6/30/2022
3312022531202210-K 3/31/2022
12312021207202210-Q 12/31/2021
93020211109202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0BALDRIDGE RICHARD A 9152025Sell31.00100,0003,099,9006,111,794Form
1TRITON LUXTOPHOLDING SARL 2122025Sell9.003,750,00033,750,00043,158,006Form
2ONTARIO TEACHERS PENSION PLAN BOARD2122025Sell9.003,750,00033,750,00043,158,006Form
3CPP Investment Board Private Holdings (4) Inc.2112025Sell9.003,750,00033,750,00043,158,006Form
4MILLER MARK JEVP, Chief Technical Officer12162024Sell9.213,56432,8243,226,733Form

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