VIASAT INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data VIASAT INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	1,559	1,595	2,068	2,309	1,921	2,417	2,556	4,284	4,520	4,640
Cost of revenue	524	554
Gross profit	1,035	1,041
Research and development	130	168	123	130	109	149	129	151	142	165
Selling, general and administrative	333	385	458	523	497	641	719	1,894	1,181	999
Operating expenses							2,682	4,946	4,353	4,271
Operating income	36.5	-92.2	-60.6	38.4	-46	-113	-156	-890	-97.5	108
Interest expense	12.1	4.03	50	38.6	32.7	29.4	26.8	400	422	360
Other non-operating income						4.12	1.1	0	-9.98	163
Pre-tax income	25.4	-105	-110	1.43	-78.2	-138	-162	-1,194	-545	105
Income tax	3.62	-35.2	-41	-7.92	-11.2	-36.5	49.4	-139	-0.94	116
Net income to minority interests	-2	-0.97	1.15	14	13.4	13.1	5.94	11	43.8	38
Net income	23.8	-67.3	-67.6	-0.21	3.69	-15.5	1,085	-1,069	-575	-34.1
EBITDA	237	118	202	318	285	294	254	-22.2	939	1,147
EPS, basic	0.45	-1.15	-1.13	0.00	0.06	-0.21	14.29	-9.12	-4.48	-0.25
EPS, diluted	0.45	-1.15	-1.13	0.00	0.06	-0.21	14.29	-9.12	-4.48	-0.25
Shares, basic (weighted)	52.3	58.4	59.9	61.6	66.4	73.4	75.9	117	128	135
Shares, diluted (weighted)	53.4	58.4	59.9	61.6	66.4	73.4	75.9	117	128	135

Balance sheet

	FY2016	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	130	71.4	262	304	296	310	1,349	1,901	1,612	1,747
Receivables	264	268	300	331	239	312	420	678	700	753
Inventory	163	196	235	294	337	198	269	318	294	281
Other current assets	5.98	8.62	18.3	31.4	25.6	39	60.9	134	106	163
Total current assets	615	613	887	1,046	991	1,159	2,245	3,479	2,888	3,124
Property, plant and equipment			2,125	2,587	3,050	3,705	4,378	7,557	7,406	7,273
Lease right-of-use assets				308	340	343	282	393	416	428
Goodwill	120	121	122	121	122	169	159	1,622	1,622	1,625
Intangible assets	41.7	31.9	22.3	14.4	9.57	236	201	2,544	2,271	1,997
Other non-current assets	529	686	759	807	835	699	466	734	846	780
Total assets	2,955	3,414	3,915	4,884	5,349	6,389	7,730	16,329	15,449	15,227
Accounts payable	100	157	157	184	145	201	272	287	264	288
Accrued liabilities	225	264	308	72.7	87.2	108	125	178	186	208
Deferred revenue	76.7	121	126	123	217	132	132	260	294	293
Short-term debt	0.29	45.3	19.9	29.8	30.5	34.9	37.9	58.1	504	57.8
Total current liabilities	326	466	485	605	708	770	957	1,296	1,677	1,297
Long-term debt	848	978	1,393	1,822	1,803	2,451	2,422	7,129	6,532	6,391
Lease liabilities				287	314	316	273	380	414	430
Other non-current liabilities	3	9.9	5.76	121	137	153	219	2,452	2,181	2,379
Total liabilities	1,217	1,566	1,999	2,834	2,962	3,707	3,870	11,257	10,804	10,497
Total debt	879	1,024	1,413	1,851	1,833	2,486	37.9	58.1	504	57.8
Paid-in capital	1,440	1,536	1,657	1,788	2,093	2,422	2,541	4,797	4,926	5,045
Retained earnings	297	286	246	245	249	234	1,318	249	-326	-360
Other comprehensive income	-2.5	15.6	5.34	-6.05	9.8	-21.6	-34.7	-21.3	-46.9	-24.6
Shareholders' equity	1,735	1,837	1,908	2,028	2,351	2,634	3,824	5,025	4,554	4,660
Minority interests	3.31	10.8	8.33	22.4	35.8	48.7	36.3	47.1	90.7	69
Total equity	1,738	1,848	1,916	2,050	2,387	2,683	3,861	5,073	4,645	4,729
Total liabilities and equity	2,955	3,414	3,915	4,884	5,349	6,389	7,730	16,329	15,449	15,227
Shares outstanding	57.6	58.9	60.6	62.1	68.5	74.4	76.9	126	130	137

Cash flow statement

	FY2016	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	21.8	-68.3	-66.5	13.8	17.1	-2.48	1,091	-1,058	-531	3.93
Depreciation and amortization	201	210	262	280	331	407	410	868	1,036	1,039
Stock-based compensation	55.8	68.5	79.6	86.6	84.9	86.8	84.5	83.6	80.4	81.1
Deferred income tax	-0.22	-36.6	-43.8	-15.6	-22.7	-49.7	26.7	-180	-149	45.9
Change in receivables	16.1	-12.4	-46.1	-44.8	84.4	-60.5	-128	-69.2	-59.7	-58.2
Change in inventory	-12.4	-37.6	-36.6	-59	-42.5	-2.3	-73.1	-13.4	33.2	13.1
Change in payables	0.97	32.5	-5.71	28.2	-24.4	25.4	35.5	-41.5	40.5	36.8
Cash from operations	411	359	328	437	727	506	368	688	908	1,590
Capital expenditures	-515	-512	-637	-694	-827	-938	-1,077
Acquisitions	-16.5		-2.34			-140		-343
Purchases of investments								-82
Cash from investing	-715	-584	-489	-759	-885	-1,130	768	-1,291	-758	-759
Debt issued		753	1,110	420	400	1,266	540	1,737	1,975	176
Debt repaid		-575	-733	-59.7	-421	-610	-576	-567	-2,391	-809
Stock issued	503
Cash from financing	393	166	355	365	150	644	-66.1	1,124	-443	-694
Exchange rate effect	-1.07	1.43	-2.49	-0.71	0.01	-4.92	-0.84	0.28	3.83	-1.69
Net change in cash	88	-58.7	190	42.6	-8.36	14.5	1,069	522	-289	135
Free cash flow	-103	-153	-309	-257	-100	-433	-709
Interest paid	10.1	3.72	35.1	27.8	23.5	14.6	11	229	390	327
Income taxes paid	1.47	4.02	1.76	11	6.67	17.1	16.5	201	196	80.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $73.02 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	2.4%	Operating income / revenue.
EBITDA margin	24.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	2.8%	Pre-tax income / revenue.
Net margin	-0.6%	Net income / revenue.
Operating cash flow margin	34.4%	Cash from operations / revenue.
Effective tax rate	102.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	-0.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-0.2%	Net income / average total assets.
Return on invested capital (ROIC)	2.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	3.8%	Research and development expense / revenue.
SG&A / revenue	21.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.0%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	21.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	22.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	19.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	22.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	65.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	32.1%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	75.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	62.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	2.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	14.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	25.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	23.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	4.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	21.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	15.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.68x	Current assets / current liabilities.
Quick ratio	1.34x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.94x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.14x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	4.4%	Total debt / total assets.
Liabilities / assets	68.8%	Total liabilities / total assets.
Net debt	-$1.07B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.96x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.32x	Operating income / interest expense.
Working capital	$1.25B	Current assets - current liabilities.
Goodwill and intangibles / assets	23.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.08B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.31x	Revenue / average total assets.
Fixed asset turnover	0.64x	Revenue / average property, plant and equipment.
Receivables turnover	6.21x	Revenue / average receivables.
Days sales outstanding	59 days	365 x average receivables / revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.21	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$33.73	Revenue / diluted weighted shares.
Operating cash flow per share	$11.61	Cash from operations / diluted weighted shares.
Book value per share	$33.84	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.90	Tangible book value / shares outstanding.
Cash per share	$12.66	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$10.06B	Share price x shares outstanding.
Enterprise value	$8.99B	Market cap + total debt - cash - short-term investments.
P/S	2.17x	Market cap / revenue.
P/B	2.17x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	9.29x	Market cap / tangible book value, when positive.
P/OCF	6.32x	Market cap / cash from operations, when positive.
EV/Sales	1.94x	Enterprise value / revenue.
EV/EBIT	82.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.00x	Enterprise value / EBITDA, when both are positive.
Earnings yield	-0.3%	Net income / market cap (the inverse of P/E).

What was VIASAT INC's revenue in fiscal 2026?

VIASAT INC reported revenue of $4.64B for fiscal 2026, 2.7% higher than the year before.

Was VIASAT INC profitable in fiscal 2026?

No. It reported a net loss of $34.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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