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Provides satellite broadband internet and secure communications for consumers, airlines, government/defense and enterprises.
Provides satellite broadband internet and secure communications for consumers, airlines, government/defense and enterprises.
Earns on satellite services, home and business broadband, in-flight Wi-Fi sold to airlines, and government communications, plus terminals and ground systems it builds itself. Its 2023 purchase of Inmarsat, a British satellite operator, added global maritime and aviation links.
Moat: narrow (IP / patents, installed base, regulatory licence). High-throughput satellite technology and government/defense security certifications, though it faces heavy debt and Starlink competition.
Headquarters: Carlsbad, California, United States · Founded: 1986 · Employees: 7,000
Size ViaSat (VSAT) is a United States Information Technology company (Telecommunications Equipment) with a market value of $8.81B, the 840th largest of 3,117 United States companies the cockpit tracks. Shares closed at $63.95 on 6 Nov 2026.
Performance Over six months the shares fell 8.7%, against -35.0% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue grew 1.4% over the last twelve months (peer median +14.9%); the operating margin is 2.4% (peer median 4.0%).
Valuation It trades at 3.0× enterprise value to sales against a peer median of 2.2× (9th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 43% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is +27 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 9.2 points below its cost of capital (10.1% WACC).
Backlog Backlog (remaining performance obligations) was $4.20B at 30 Sep 2026, up 8% on a year earlier — 0.9 years of trailing revenue. Backlog detail →
Credit ViaSat has 2 bonds outstanding ($1.00B), rated B+ by the agencies and trading like B+ at a weighted spread of 307 bp.
Short interest Short interest is 8.7% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.63B | $4.64B | $4.52B | $4.28B | $2.56B |
| Revenue growth | — | +3% | +6% | +68% | — |
| Gross profit | $1.28B | $1.27B | $1.23B | $1.15B | $692M |
| EBITDA | $1.44B | $1.46B | $1.43B | $268M | $344M |
| Net income | -$29.4M | -$34.1M | -$575M | -$1.06B | -$577M |
| Free cash flow | $578M | $597M | -$122M | -$851M | -$709M |
| Capital expenditure | $1.01B | $993M | $1.03B | $1.54B | $1.16B |
| Total debt | $6.93B | $6.94B | $7.52B | $7.64B | $2.78B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| ViaSat VSAT | $8.81B | -9% | +1% | 2% | 3.0× | 42.8% |
| EchoStar ECHO | $27.5B | -26% | -20% | 11% | 1.9× | n/a |
| Space Exploration Technologies SPCX | $1.82T | n/a | +33% | -11% | 94.9× | n/a |
| Gogo GOGO | $526M | -12% | +30% | 12% | 1.5× | n/a |
| Eutelsat Communications ETL.PA | $2.40B | -40% | -1% | -6% | 2.9× | n/a |
| Iridium Communications IRDM | $4.68B | +6% | +4% | 19% | 7.4× | 21.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | VSAT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.1% | -7.6% | 8th highest of 20 |
| 6-month return | -8.7% | -35.0% | 4th highest of 20 |
| Distance from 52-week high | -31.3% | -48.8% | 5th highest of 21 |
| Revenue growth (TTM) | +1.4% | +14.9% | 5th lowest of 21 |
| Operating margin | 2.4% | 4.0% | 10th lowest of 21 |
| EV / Sales | 3.0× | 2.2× | 9th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 42.8% | 12.8% | most demanding of 12 |
| Growth delivered (Del g) | +15.5% | +6.9% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | +27.3 pp | +7.9 pp | most demanding of 12 |
| ROIC minus cost of capital | -9.2 pp | -1.5 pp | 3rd lowest of 21 |
| EV / EBITDA | 9.8× | 18.7× | 2nd cheapest of 5 |
| Net debt / EBITDA | 3.6× | -1.0× | most indebted of 5 |
| Bond spread | 307 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ViaSat VSAT | United States | $8.81B | -9% | +1% | 2% | 3.0× | 42.8% | +15.5% |
| China Spacesat 600118.SS | China | $9.75B | -46% | +6% | 1% | 9.5× | n/a | n/a |
| Yealink Network Technology 300628.SZ | China | $7.50B | +8% | +17% | 46% | 6.6× | 4.3% | +17.0% |
| Zhejiang Dahua Technology 002236.SZ | China | $7.04B | -21% | +7% | 7% | 1.4× | n/a | n/a |
| Shenzhen Transsion 2636.HK | Hong Kong | $11.3B | n/a | +4% | 5% | 1.1× | n/a | n/a |
| Shenzhen Sunway Communication 300136.SZ | China | $6.14B | -54% | +2% | 9% | 5.0× | 30.6% | +6.9% |
| Huaqin 3296.HK | Hong Kong | $12.7B | -30% | +35% | 2% | 0.5× | n/a | n/a |
| Fiberhome Telecommunication Technologies 600498.SS | China | $5.50B | -42% | +16% | 1% | 1.8× | 12.8% | +3.4% |
| TCL Technology 000100.SZ | China | $15.0B | +7% | +5% | 0% | 1.5× | -4.7% | +19.1% |
| Jiang Su Etern 600105.SS | China | $4.82B | -48% | +49% | 12% | 5.0× | n/a | n/a |
| QuantumCTek 688027.SS | China | $4.60B | -48% | -19% | -33% | 101.3× | n/a | n/a |
| Ohb OHB.DE | Germany | $4.45B | -61% | +18% | 5% | 3.0× | n/a | n/a |
| ZTE 000063.SZ | China | $19.0B | -23% | +14% | 1% | 1.2× | 19.0% | +5.6% |
| ZTE 0763.HK | Hong Kong | $19.0B | -27% | +20% | 1% | 1.2× | 17.5% | +4.9% |
| Accton Technology 2345.TW | Taiwan | $21.6B | -49% | +82% | 14% | 2.2× | 4.5% | +35.4% |
| Huber + Suhner HUBN.SW | Switzerland | $3.49B | -44% | -4% | 9% | 3.1× | 11.1% | +3.2% |
| Digital China 000034.SZ | China | $3.16B | -22% | +28% | 1% | 0.2× | n/a | n/a |
| Ondas ONDS | United States | $3.11B | -41% | +979% | -127% | 10.1× | n/a | n/a |
| GN Store Nord A/S GN.CO | Denmark | $2.70B | +30% | -26% | 3% | 2.1× | 18.5% | +4.7% |
| Shanghai HuaCe Navigation Technology 300627.SZ | China | $2.44B | -35% | 0% | 13% | 4.2× | 18.6% | +21.3% |
| WNC 6285.TW | Taiwan | $2.41B | -29% | +30% | 5% | 0.6× | -0.5% | +12.0% |
ViaSat has 2 bonds outstanding with $1.00B face value. The agencies rate it B+; its bonds trade like B+. Weighted yield 7.48%, a spread of 307 bp over government bonds.
ViaSat reported $4.20B of remaining performance obligations at 30 Sep 2026, up 8% from a year earlier and flat from the previous quarter. That is 0.9 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.