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Investment Highlights Market Valuation Price Chart Business Description Interactive Breakdown Latest Trefis Analyses Better Bets vs. VSAT 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 (9/16/2025): $32.92 | Market Cap: $4.3 Bil
Sector: Information Technology | Industry: Communications Equipment

Viasat (VSAT)

Market Price (9/16/2025): $32.92
Market Cap: $4.3 Bil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%		 Trading close to highs
Dist 52W High is 0.0%		 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  Weak multi-year price returns
2Y Excs Rtn is -7.4%, 3Y Excs Rtn is -74%		 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 136%
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%		 Stock price has recently run up significantly
6M Rtn6 month market price return is 227%, 12M Rtn12 month market price return is 157%
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 Trading close to highs
Dist 52W High is 0.0%
2 Weak multi-year price returns
2Y Excs Rtn is -7.4%, 3Y Excs Rtn is -74%
3 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%
4 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%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 136%
6 Stock price has recently run up significantly
6M Rtn6 month market price return is 227%, 12M Rtn12 month market price return is 157%
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.4%
8 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%
9 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

 9/16/25202420232022
Share Price CYE$32.92$8.51$27.95$31.65
Market Cap CYE ($ Bil)4.31.13.52.4
Total Debt ($ Bil)7.17.57.62.8
Total Cash ($ Bil)1.21.61.91.3
Enterprise Value ($ Bil)10.28.611.15.2
Valuation Ratios    
P/S TTM0.90.20.80.9
P/EBIT TTM-28.8-8.9-4.1-17.8
P/E TTM-7.2-1.9-3.12.2
Sector Ratios    
P/S TTM (Sector)3.23.12.82.5
P/EBIT TTM (Sector)4.0-0.0-0.1-0.5
P/E TTM (Sector)-0.4-0.3-0.4-0.5
 9/16/252024
Share Price CYE$32.92$8.51
Market Cap CYE ($ Bil)4.31.1
Total Debt ($ Bil)7.17.5
Total Cash ($ Bil)1.21.6
Enterprise Value ($ Bil)10.28.6
Valuation Ratios  
P/S TTM0.90.2
P/EBIT TTM-28.8-8.9
P/E TTM-7.2-1.9
Sector Ratios  
P/S TTM (Sector)3.23.1
P/EBIT TTM (Sector)4.0-0.0
P/E TTM (Sector)-0.4-0.3

Market Cap Chart

Business Description

Viasat, Inc. provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment, internet, and aviation software services to commercial airlines; community internet services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and advanced software and communication infrastructure services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
VSAT Return-55%36%-29%-12%-70%287%-58%
Peers Return30%22%-24%34%14%20%119%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: QCOM, MSI, NTAP, QRVO, ESE. See VSAT Returns vs. Peers.
[3] 2025 data is for the year up to 9/15/2025 (YTD)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Viasat Earnings Notes  
2Day 6 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/28/2025]Notification 
3Day 5 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/27/2025]Notification 
4How Does VSAT Stack Up Against Its Peers?Peer Comparison 
5Day 6 of Gains Streak for Viasat Stock with 89% Return (vs. 227% YTD) [8/6/2025]Notification 
6Day 5 of Gains Streak for Viasat Stock with 45% Return (vs. 150% YTD) [8/5/2025]Notification 
7VSAT Dip Buy Analysis  
8Viasat Total Shareholder Return (TSR): -42.4% in 2025 and -40.2% 3-yr compounded annual returns (below peer average)  
9Day 5 of Loss Streak for Viasat Stock with -20% Return (vs. 8.6% YTD) [1/31/2025]Notification 
10Day 0 of Loss Streak for Viasat Stock with 0% Return (vs. -67% YTD) [12/27/2024]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
8Day 6 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/28/2025]
9Day 5 of Gains Streak for Viasat Stock with 25% Return (vs. 282% YTD) [8/27/2025]
10How Does VSAT Stack Up Against Its Peers?
11Day 6 of Gains Streak for Viasat Stock with 89% Return (vs. 227% YTD) [8/6/2025]
12Day 5 of Gains Streak for Viasat Stock with 45% Return (vs. 150% YTD) [8/5/2025]
13VSAT Dip Buy Analysis
14Viasat Total Shareholder Return (TSR): -42.4% in 2025 and -40.2% 3-yr compounded annual returns (below peer average)
15Day 5 of Loss Streak for Viasat Stock with -20% Return (vs. 8.6% YTD) [1/31/2025]
16Day 0 of Loss Streak for Viasat Stock with 0% Return (vs. -67% YTD) [12/27/2024]

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
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9OPIOffice Properties Income Trust274.5%-8.3%
10CWDCaliberCos246.5%-46.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
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6NXTTNext Technology2167.7%1080.3%
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8CURXCuranex Pharmaceuticals1282.0%1282.0%
9VCIGVCI Global1278.3%-66.8%
10OCTOEightco800.6%562.1%

1 Month Top Losers

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5NAKAKindly MD-91.7% 
6BINIBollinger Innovations-90.5%-100.0%
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8JEM707 Cayman-89.8%-98.3%
9NUTRNusaTrip-86.7%-86.7%
10CUPRCuprina-84.9% 

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NXTTNext Technology18985.5%1080.3%
2BDSXBiodesix1658.4%-75.2%
3VCIGVCI Global1460.0%-66.8%
4CLSDClearside Biomedical1075.2%-72.3%
5SDOTSadot806.7%-78.2%
6WLDSWearable Devices539.8%-24.4%
7QMMMQMMM536.6%5505.5%
8ATCHAtlasClear382.9%-89.7%
9OPIOffice Properties Income Trust274.5%-8.3%
10CWDCaliberCos246.5%-46.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-83.7% 
2ATYRaTyr Pharma-81.4%-72.0%
3LGCLLucas GC-73.2%-78.3%
4NAKAKindly MD-72.8% 
5OCTOEightco-67.8%562.1%
6YYGHYY-67.0%-78.2%
7SNTGSentage-58.1%57.5%
8REXREX American Resources-50.7%-26.7%
9BINIBollinger Innovations-49.2%-100.0%
10SLXNSilexion Therapeutics-49.2%-88.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Viasat

Financials

VSATQCOMMSINTAPQRVOESEMedian
NameViasat Qualcomm Motorola.NetApp Qorvo ESCO Tec. 
Mkt Price32.92161.22482.43124.1686.41208.02142.69
Mkt Cap4.3176.180.525.08.05.416.5
Rev LTM4,56443,25711,0946,5903,6511,1905,577
Op Inc LTM-11112,0192,7851,436217175827
FCF LTM8811,6222,3841,6585871471,123
FCF 3Y Avg-49310,3512,0471,380597100988
CFO LTM1,01612,6632,6121,8387242041,427
CFO 3Y Avg72811,6542,2931,5637361431,150

Growth & Margins

VSATQCOMMSINTAPQRVOESEMedian
NameViasat Qualcomm Motorola.NetApp Qorvo ESCO Tec. 
Rev Chg LTM-1.4%15.8%6.4%3.3%-8.8%22.2%4.9%
Rev Chg 3Y Avg26.8%1.4%9.5%0.8%-4.5%14.1%5.5%
Rev Chg Q4.0%10.3%5.2%1.2%-7.7%26.9%4.6%
QoQ Delta Rev Chg LTM1.0%2.3%1.3%0.3%-1.8%5.6%1.1%
Op Mgn LTM-2.4%27.8%25.1%21.8%5.9%14.7%18.3%
Op Mgn 3Y Avg-8.2%26.5%23.8%20.2%5.1%14.2%17.2%
QoQ Delta Op Mgn LTM-0.3%0.6%0.1%0.1%0.8%-0.5%0.1%
CFO/Rev LTM22.3%29.3%23.5%27.9%19.8%17.2%22.9%
CFO/Rev 3Y Avg17.9%29.4%21.9%24.4%20.3%13.6%21.1%
FCF/Rev LTM1.9%26.9%21.5%25.2%16.1%12.3%18.8%
FCF/Rev 3Y Avg-14.7%26.1%19.6%21.5%16.4%9.5%18.0%

Valuation

VSATQCOMMSINTAPQRVOESEMedian
NameViasat Qualcomm Motorola.NetApp Qorvo ESCO Tec. 
Mkt Cap4.3176.180.525.08.05.416.5
P/S0.94.17.33.82.24.53.9
P/EBIT-28.813.626.817.045.031.321.9
P/E-7.215.238.021.399.446.829.7
P/CFO4.313.930.813.611.126.313.7
Total Yield-13.8%8.7%3.5%6.4%1.0%2.3%2.9%
Dividend Yield0.0%2.2%0.9%1.7%0.0%0.1%0.5%
FCF Yield 3Y Avg-20.9%5.8%3.3%6.6%6.2%2.9%4.6%
D/E1.60.10.10.10.20.10.1
Net D/E1.40.00.1-0.00.00.10.1

Returns

VSATQCOMMSINTAPQRVOESEMedian
NameViasat Qualcomm Motorola.NetApp Qorvo ESCO Tec. 
1M Rtn21.5%2.7%5.0%14.1%-3.3%12.3%8.7%
3M Rtn151.5%3.4%18.7%19.2%7.0%13.6%16.1%
6M Rtn226.6%3.3%15.0%34.0%18.3%30.3%24.3%
12M Rtn157.4%-1.7%10.3%7.4%-19.7%74.0%8.9%
3Y Rtn-8.4%38.3%108.6%93.2%0.6%168.9%65.7%
1M Excs Rtn18.1%0.3%2.5%11.1%-7.0%8.3%5.4%
3M Excs Rtn150.6%-5.9%7.8%12.9%-1.9%2.4%5.1%
6M Excs Rtn216.9%-13.1%-1.3%18.5%3.7%12.1%7.9%
12M Excs Rtn102.3%-20.1%-7.1%-10.1%-38.5%59.5%-8.6%
3Y Excs Rtn-74.4%-31.0%34.8%20.7%-70.3%90.7%-5.2%

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 8/31/2025

 1M2M3M6M1Y3Y
Beta5.484.652.301.541.511.67
Up Beta6.769.284.251.311.581.87
Down Beta-1.41-0.50-2.191.331.551.60
Up Capture1415%891%928%625%240%316%
Bmk +ve Days10223571142415
Stock +ve Days13233767118365
Down Capture57%-113%-270%99%104%107%
Bmk -ve Days11192754106334
Stock -ve Days8172153123376

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

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity16,249,585
Short Interest: % Change Since 8152025-5.6%
Average Daily Volume4,277,708
Days-to-Cover Short Interest3.80
Basic Shares Quantity131,578,000
Short % of Basic Shares12.3%

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

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0TRITON LUXTOPHOLDING SARL 2122025Sell9.003,750,00033,750,00043,158,006Form
1ONTARIO TEACHERS PENSION PLAN BOARD2122025Sell9.003,750,00033,750,00043,158,006Form
2CPP Investment Board Private Holdings (4) Inc.2112025Sell9.003,750,00033,750,00043,158,006Form
3MILLER MARK JEVP, Chief Technical Officer12162024Sell9.213,56432,8243,226,733Form
4BALDRIDGE RICHARD A 9132024Buy14.7520,000295,000295,000Form

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