GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT
Viasat Inc (NAS:VSAT)
[1]
Modestly Undervalued[5]$ 42.56
Hardware - Communication Equipment
Market Cap: $ 3,126 Mil
Viasat Inc is engaged in the provision of high-speed fixed and mobile broadband services. The Company also offers satellite and other wireless networks and secure networking systems, products and services.
Valuation Rank
Score: 9 /10CurrentIndustry MedianHistorical Median
PE Ratio89.2221.47117.98
Forward P/EN/A17.47N/A
PB Ratio1.192.052.24
PS Ratio1.211.492.16
P/FCFN/A21.19205.98
Shiller P/EN/A25.78100
PEG Ratio17.161.646.61
Valuation Analysis
% of Price
DCF (FCF Based)-56.54-133
NCAV-31.2-73
Peter Lynch Value6.1815
DCF (Earnings Based)7.0417
Graham Number16.7239
Tangible Book26.0461
Price42.56
Median PS Value76.43180
Dividend & Ownership
Dividend Yield(ttm) %N/A
Dividend Yield(forward) %N/A
PayoutN/A
Dividend Growth(5y) %N/A
Yield on Cost(5y) %N/A
Continuous Div. sinceN/A
Insider Ownership %1.03
Institution Ownership %38.72
Financial Strength
Score: 4 /10CurrentIndustry MedianHistorical Median
Cash-to-Debt0.091.370.44
Equity-to-Asset0.440.550.66
Interest Coverage2.9322.921.60
Piotroski F-Score655
Profitability Rank
Score: 5 /10CurrentIndustry MedianHistorical Median
Operating Margin %2.974.630.96
Net Margin %1.353.710.08
ROE %1.417.000.08
ROA %0.623.400.07
ROC (Joel Greenblatt) %2.2513.020.94
Growth (Per Share)
10 Yr5 Yr1 Yr
Revenue Growth (%)5.95.2-0.9
EBITDA Growth (%)6.85.216.9
Oprt. Income Growth (%)N/AN/A92.4
EPS w/o NRI Growth (%)N/AN/AN/A
Free Cash Flow Growth (%)-10.3-1.4N/A
Book Value Growth (%)6.66.66.3
Quarterly
Sep20Dec20Mar21Jun21Sep21
Revenue554576596665701
Net Income277173
EPS0.030.10.110.230.04
Revenue (YoY) %-6.41-2.150.6925.3326.53
Net Income (YoY) %-38.544.39363.87-236.9667.65
EPS (YoY) %-400328-21533.33
Warning Signs
SEVEREAltman Z-Score: Distress
SEVEREAsset Growth: faster than revenue growth
MEDIUMRevenue per Share: Growth slow down
Good Signs
GOODBeneish M-Score: Unlikely manipulator
Insider Trades
InsiderPositionDateTradesCur. Shares
Johnson Robert WDirector11/10/211200686696
Harkenrider Kevin JExecutive Vice 11/02/21-2250019235
Lippert Keven KExecutive Vice 03/11/21-30004898
Kimbro Melinda MicheleChief People Of03/10/21-3649740
Lippert Keven KExecutive Vice 02/17/21-30007861
As of 12-06-2021
* All financial numbers are in millions except for per share data, ratios and percentage change.
Gain % SP500 %
1W-9.79-1.21
1M-34.48-2.43
3M-14.570.40
6M-21.148.98
YTD30.3522.46
1Y22.0525.39
3Y-15.5219.60
5Y-9.6517.70
10Y-1.0915.98
94.25
33.4
27.46
1M
0.5M
2011201220132014201520162017201820192020CurrentPerformance
49.6749.2973.6270.2475.8481.1580.1877.8794.2560.3268.76Highest Stock Price
31.5433.8545.5353.0156.7162.7759.1256.4627.4630.5729.82Lowest Stock Price
20752179319228433595367638714693223232943126Market Cap
44.243.945.748.349.453.458.459.961.66774.9Shares Outstanding-Diluted
283.59At LossAt Loss70.96167141.82At LossAt LossAt Loss801.1789.22PE Ratio
2.342.413.392.743.182.122.112.461.11.41.19PB Ratio
2.471.92.342.082.562.192.412.250.961.431.21PS Ratio
19.2324.1320.3311.7515.7815.5231.3522.6710.8111.4710.23EV-to-EBITDA
2012201320142015201620172018201920202021TTMPer Share Data
19.5325.4929.5428.6328.6729.227.2934.537.4733.6635.27Revenue per Share
0.17-0.94-0.210.840.440.45-1.15-1.13-00.060.48Earnings per Share
-1.98-2.5-3.21-1.44-3.11-3.27-3.87-5.99-5.26-2.36-3.83Free Cash Flow per Share
----------------------Dividends per Share
15.9915.5915.4715.5616.3223.4924.1324.7125.9128.1626.04Tangible Book per Share
35.2947.6454.955.0756.160.0158.2775.1581.4873.276.43Median PS Value
7.82----17.1512.7115.42------6.1716.72Graham Number
2012201320142015201620172018201920202021TTMIncome Statement
863.61119.71351.51382.51417.41559.31594.62068.32309.22256.12537.6Revenue
227.6271.5360.2418.6433.1510.4473.8530.5699.6691.8803.7Gross Profit
26.424.326.730.330.632.729.725.730.330.731.7Gross Margin %
225.5291.9356.9335.5392473.9566591.2661.1633.6728.3Total Operating Expense
2.2-20.43.383.141.136.5-92.2-60.638.458.275.5Operating Income
0.3-1.80.262.92.3-5.8-2.91.72.63Operating Margin %
7.5-41.2-9.440.421.723.8-67.3-67.6-0.23.734.4Net Income
0.9-3.7-0.72.91.51.5-4.2-3.3-00.21.4Net Margin %
2.3-46.73.385.243.337.5-101.4-60.540.158.779.8EBIT
127.8110.5188.4306.6285.4283.4154.2258.1382.2455.8529.1EBITDA
0.9-4.6-14.121.7-3.8-3.6-00.21.4ROE %
0.5-2.3-0.5210.9-2.1-1.9--0.10.6ROA %
2012201320142015201620172018201920202021Sep21Balance Sheet
172.6105.758.352.342.1130.171.4261.7304.3295.9217.7Cash & Equivalents
211.7267271.9266.3286.7263.7267.7300.3330.7238.7369.2Total Receivables
1727.21794.11960.12158.42397.32954.73414.13915.34883.95349.55992.9Total Assets
1.22.21.90.30.30.345.319.971.979.481.6Short-Term Debt & CLO
548.6586.4689.8806.4945.5848.5978.41392.92108.22116.42421.1Long-Term Debt & CLO
835886.21013.51114.61262.91216.71566.11999.22833.72962.23319.4Total Liabilities
8889039411038.61129.11734.61837.21907.72027.82351.52634.8Total Stockholders Equity
892.2907.8946.61043.71134.41737.918481916.12050.12387.22673.5Total Equity
2012201320142015201620172018201920202021TTMCashflow Statement
141.491.8205.1349.5296.9411.3358.6327.6436.9727.2621.5Cash Flow from Operations
-229-201.6-354.5-476.6-456.3-715-584.5-489.4-758.8-885.3-1039Cash Flow from Investing
-7.5-8.4-15.6-14.8-16.4-21.7-24.2-28.8-28.8-13.7-14.7Repurchase of Stock
21528.4105118.9145.8-102.5177.5377.2360.3-20.6287.2Net Issuance of Debt
219.842.9101.8121.5149.1392.8165.8354.6365.2149.7288.1Cash Flow from Financing
132.1-66.8-47.4-6.1-10.288-58.7190.342.6-8.4-132.8Net Change in Cash
-229-201.6-352.1-419.2-450.6-585.7-584.5-686.8-761.1-885.3-900.4Capital Expenditure
-87.6-109.8-146.9-69.7-153.7-174.4-225.9-359.3-324.1-158.1-278.9Free Cash Flow
Competitor
TickerCompanyFinancial
Strength
Profitability
Rank
Market Cap
($M)
PE RatioPS RatioNet
Margin %
ROA %ROE %
NAS:VIAVViavi Solutions Inc353,694At Loss2.95-1.85-1.17-2.88
NAS:VSATViasat Inc453,12689.221.211.350.621.41
NAS:SATSEchoStar Corp552,28516.181.247.562.234.25
NAS:COMMCommScope Holding Co Inc362,061At Loss0.24-4.14-2.61-34.01
NYSE:VCRAVocera Communications Inc432,029At Loss8.81-3.43-1.69-4.86
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Financial Strength[2] (Quarterly data, as of Sep. 2021) : Fair (4/10)

0
1
2
3
4
5
6
7
8
9

Cash-to-Debt : 0.09

Cash-to-Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. A high ratio indicates that a company is better able to pay back its debt, and is thus able to take on more debt if necessary.


Equity-to-Asset : 0.44

Equity-to-Asset ratio is calculated as total stockholders equity divided by its total assets. Equity-to-Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity-to-Asset ratio (more leveraged) may have higher ROE % because of the leverage.


Debt-to-Equity : 0.95

A high Debt-to-Equity ratio generally means that a company has been aggressive in financing its growth with debt.


Piotroski F-Score : 6

The Piotroski F-Score is used to determine the strength of a firm's financial position, with 9 being the best and 0 being the worst.

0
1
2
3
4
5
6
7
8
9


WACC : 5.63% vs ROIC : 1.28%

The weighted average cost of capital (WACC) is the rate that a company is expected to pay on average to all its security holders to finance its assets. Return on invested capital (ROIC) measures how well a company generates cash flow relative to the capital it has invested in its business.


Dividend Yield : 0.00%

Dividend yield is a way to measure how much cash flow you are getting for each dollar invested in an equity position.

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Profitability[3] (Annual data, as of Mar. 2021) : Fair (5/10)

0
1
2
3
4
5
6
7
8
9

Revenue : $701 Mil vs Net Income : $3 Mil

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. Net Income is a company's total profit. Net income is calculated by taking revenues and adjusting for the cost of doing business, depreciation, interest, taxes and other expenses.


Cash & Equivalents : $218 Mil vs Long-Term Debt* : $2,421 Mil

Cash & equivalents are the most liquid assets on the balance sheet. Cash equivalents are assets that are readily convertible into cash. Long-Term Debt* consists of loans and obligations lasting over one year.


Operating Margin % : 1.18%

Operating margin % measures how much profit a company makes on a dollar of sales. Operating Margin % is calculated as Operating Income divided by Revenue.


EPS without NRI : $0.04

Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock. In calculating earnings per share without non-recurring items, the dividends of preferred stocks and Non Operating Income need to subtracted from the total net income first.


Dividends per Share : $0.00

Dividends per Share is the amount of dividends that the shareholders of a company receive on a per-share basis. It is calculated using the total dividends paid out to shareholders over one fiscal year and the number of shares outstanding.


Free Cash Flow per Share : $-0.69

Free Cash flow per Share is the amount of Free cash flow per outstanding share of the company's stock.

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Valuation (Quarterly data, as of Sep. 2021)

These valuation metrics should give you a sense of reasonable prices, but be careful with them. Always seek to understand why a valuation is changing over time.


Valuation Chart (Current stock price : $42.56)


PE Ratio without NRI : 115.45

The price-to-earnings ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.


PB Ratio : 1.54

The price-to-book ratio measures the valuation of the stock relative to the underlying asset of the company.


PS Ratio : 1.56

The price-to-sales ratio is a valuation ratio that compares a company’s stock price to its revenues. The price-to-sales ratio is an indicator of the value placed on each dollar of a company’s sales or revenues.


Price-to-Free-Cash-Flow : 0.00

Price-to-free-cash-flow is very similar to the valuation metric of price-to-operating-cash-flow but is considered a more exact measure, owing to the fact that it uses free cash flow, which subtracts capital expenditures from a company's total operating cash flow, thereby reflecting the actual cash flow available to fund non-asset-related growth.


EV-to-EBIT : 79.82

Enterprise value of a company divided by its trailing 12 months earnings before interest and taxes (EBIT).

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Valuation Bands

In these charts the 10-year valuation bands of the price-to-earnings ratio (PE Ratio), price-to-book ratio (PB Ratio), price-to-sales ratio (PS Ratio) and price-to-operating-cash-flow ratio (POCF) are drawn together with the historical stock prices. For example, the upper line of the PE band is where the stock price would have been if it were always traded at the maximum PE ratio of the past 10 years. The lower line of the PE band is where the stock price would have been if it were always traded at the lowest PE ratio of the past 10 years. It is always better if the stock price is close to the lower line, which indicates a lower valuation.


Historical Price and PE Band


Historical Price and PS Band


Historical Price and PB Band


Historical Price and Price-to-Operating-Cash-Flow (POCF) Band

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Warning Signs

GuruFocus conducted a thorough checkup using a checklist of 32 items that cover the areas of financial strength, profitability, growth, and valuation of each company. The purpose of Warning Signs is to warn you that the company may have red flags in certain areas, helping to avoid overlooking them. These warning signs do not necessarily mean you should not invest in the stock. But you should be aware of them before you invest.


Severe Warning Signs

Altman Z-Score : Distress

Altman Z-score of 1.16 is in distress zone. This implies bankrupcy possibility in the next two years.

Asset Growth : faster than revenue growth

If a company builds asset at 16.5% a year, faster than its revenue growth rate of 5.2% over the past 5 years, it means that the company may be getting less efficent.

Good Signs

Beneish M-Score : Unlikely manipulator

Beneish M-Score -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

Insider Buy : Insider Buying

There were 1 insider buying transaction over the past 3 months. The total number of shares bought is 1,200.

Medium Warning Signs

Revenue per Share : Growth slow down

Viasat Inc revenue growth has slowed down over the past 12 months.

ROIC vs. WACC : Return on invested capital is less than weighted average cost of capital.

Companys's return on invested capital is less than weighted average cost of capital. It might not be capital efficient
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Competitive Comparison


5 Year Price Change Comparison


Financial Strength

CompanyFinancial StrengthCash-to-DebtEquity-to-AssetDebt-to-EquityInterest CoveragePiotroski F-ScoreAltman Z-ScoreBeneish M-ScoreWACC %ROIC %
NAS:NTGRNetgear Inc7/109.900.650.04N/A73.07-2.504.2017.39
NYSE:KNKnowles Corp6/100.710.790.156.9074.08-2.709.447.05
NAS:SATSEchoStar Corp5/100.950.560.471.8581.47-2.835.572.67
NAS:VSATViasat Inc4/100.090.440.952.9361.16-2.585.631.28
NAS:COMMCommScope Holding Co Inc3/100.040.079.980.4240.66-2.646.361.56
NAS:INFNInfinera Corp3/100.370.221.620.0050.35-3.259.09-6.91
NYSE:MAXRMaxar Technologies Inc3/100.020.301.700.7850.53-3.115.612.00
NAS:VIAVViavi Solutions Inc3/101.070.401.004.966-41.82-2.875.55-7.03
NAS:INSGInseego Corp2/100.36-0.07-10.410.005-2.31-3.829.39-36.02

Profitability

CompanyProfitability RankOperating
Margin %
Net Margin %ROE %ROA %Price-to-Free-Cash-FlowROC (Joel Greenblatt) %3-Year Revenue Growth %3-Year EBITDA Growth %3-Year EPS w/o NRI Growth %
NAS:COMMCommScope Holding Co Inc6/102.77-4.14-34.01-2.6123.446.1322.80-4.000.00
NYSE:KNKnowles Corp6/1013.309.976.635.2013.5131.210.00-3.80-24.60
NYSE:MAXRMaxar Technologies Inc6/105.65-3.67-5.60-1.450.003.94-2.40365.5017.60
NAS:NTGRNetgear Inc6/107.766.3311.647.4234.0637.768.2015.000.00
NAS:SATSEchoStar Corp5/1010.807.564.252.2325.4113.296.90-2.400.00
NAS:VSATViasat Inc5/102.971.351.410.620.002.257.3037.100.00
NAS:VIAVViavi Solutions Inc5/1012.63-1.85-2.88-1.1721.1424.979.6035.900.00
NAS:INFNInfinera Corp3/10-4.97-10.71-39.15-9.2744.59-19.6912.9028.505.90
NAS:INSGInseego Corp2/10-15.50-18.200.00-21.850.00-112.47-4.40-152.30-15.10

Valuation

CompanyPE RatioPB RatioPS RatioPrice-to-Intrinsic-Value-Projected-FCFPrice-to-Intrinsic-Value-DCF (Earnings Based)Price-to-Median-PS-ValuePrice-to-Peter-Lynch-Fair-ValuePrice-to-Graham-NumberEarnings Yield (Joel Greenblatt) %Forward Rate of Return (Yacktman) %
NAS:COMMCommScope Holding Co IncAt Loss0.000.240.330.000.000.000.000.848.30
NAS:INFNInfinera CorpAt Loss4.981.190.000.000.710.000.00-4.280.00
NAS:INSGInseego CorpAt Loss0.002.280.000.004.350.000.00-5.590.00
NYSE:MAXRMaxar Technologies IncAt Loss1.461.032.020.000.720.000.000.98-13.69
NAS:VIAVViavi Solutions IncAt Loss4.342.952.260.001.200.000.002.1210.76
NAS:NTGRNetgear Inc10.811.180.690.850.000.890.000.8017.891.79
NAS:SATSEchoStar Corp16.180.671.240.620.000.960.000.8414.202.69
NYSE:KNKnowles Corp23.241.462.341.170.000.000.002.545.635.77
NAS:VSATViasat Inc89.221.191.210.006.050.566.892.551.472.83
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Peter Lynch Chart[4]

GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Per Share Data



Per Share Data

Mar06
Mar07
Mar08
Mar09
Mar10
Mar11
Mar12
Mar13
Mar14
Mar15
Mar16
Mar17
Mar18
Mar19
Mar20
Mar21
TTM Fiscal Period
14.94
16.72
17.83
19.7
19.75
18.63
19.53
25.49
29.54
28.63
28.67
29.2
27.29
34.5
37.47
33.66
35.27
Revenue per Share
1.75
2.02
2.38
2.33
2.6
3.31
2.89
2.52
4.12
6.35
5.77
5.31
2.64
4.31
6.2
6.8
7.37
EBITDA per Share
1
1.15
1.51
1.44
1.25
0.92
0.05
-1.06
0.07
1.76
0.88
0.7
-1.74
-1.01
0.65
0.88
1.12
EBIT per Share
0.81
0.98
1.04
1.2
0.89
0.84
0.17
-0.94
-0.21
0.84
0.44
0.45
-1.15
-1.13
-0
0.06
0.48
Earnings per Share (Diluted)
0.81
0.98
1.04
1.2
0.89
0.84
0.17
-0.94
-0.21
0.84
0.44
0.45
-1.15
-1.13
-0
0.06
0.48
EPS without NRI
1.38
1.58
0.8
0.61
0.82
1
-0.5
-2.79
-1.42
0.64
-1.55
-0.63
-3.04
-3.97
-3.88
-0.4
-1.84
Owner Earnings per Share (TTM)
0.98
1.66
0.71
-1.99
-1.03
-1.27
-1.98
-2.5
-3.21
-1.44
-3.11
-3.27
-3.87
-5.99
-5.26
-2.36
-3.83
Free Cash Flow per Share
1.8
2.16
1.5
1.94
3.23
3.94
3.2
2.09
4.49
7.24
6.01
7.7
6.14
5.46
7.09
10.85
8.72
Operating Cash Flow per Share
1.34
3.48
4.11
2.04
2.25
0.97
4.01
2.35
1.26
1.1
0.86
2.26
1.21
4.32
4.9
4.32
2.96
Cash per Share
9.54
11.73
13.27
14.75
18.92
20.16
20.63
20.08
20.36
21.77
23.08
30.12
31.19
31.51
32.63
34.31
35.88
Book Value per Share
7.65
8.26
10.11
11.96
14.79
16.19
15.99
15.59
15.47
15.56
16.32
23.49
24.13
24.71
25.91
28.16
26.04
Tangible Book per Share
--
0.14
--
--
8.34
8.05
12.77
13.09
14.96
16.91
19.33
14.74
17.38
23.33
35.08
32.04
34.08
Total Debt per Share
28.65
32.97
21.72
20.82
34.61
39.84
48.21
48.44
69.04
59.61
73.48
63.82
65.72
77.5
35.92
48.07
42.56
Month End Stock Price

Ratios

Mar06
Mar07
Mar08
Mar09
Mar10
Mar11
Mar12
Mar13
Mar14
Mar15
Mar16
Mar17
Mar18
Mar19
Mar20
Mar21
TTM Fiscal Period
9.61
9.86
8.9
8.88
5.14
4.53
0.87
-4.6
-1.02
4.08
2.01
1.66
-3.77
-3.61
-0.01
0.17
1.41
ROE %
3.2
3.51
5.43
6.3
2.81
2.29
0.37
-1.91
-0.3
1.49
0.63
0.78
-1.79
-1.47
-0.01
0.12
1.18
ROE % Adjusted to Book Value
7.07
7.12
6.48
6.53
3.25
2.68
0.48
-2.34
-0.5
1.96
0.95
0.89
-2.11
-1.85
--
0.07
0.62
ROA %
11.85
13.21
12.11
11.28
6.48
5.72
1.1
-5.93
-1.33
5.54
2.82
2.21
-4.85
-4.64
-0.01
0.21
1.81
Return-on-Tangible-Equity
8.21
8.72
8.02
7.74
3.74
3.05
0.54
-2.64
-0.57
2.24
1.11
1.02
-2.42
-2.08
-0.01
0.08
0.69
Return-on-Tangible-Asset
18.1
23.81
30.1
18.47
15.06
12.51
0.35
-4.89
0.32
7.35
3.27
2.39
-5.5
-2.88
1.53
1.83
2.25
ROC (Joel Greenblatt) %
11.51
11.16
12.36
10.04
5.45
3.42
0.17
-3.07
0.21
4.76
2.16
1.58
-3.64
-1.9
1.04
1.32
1.64
ROCE %
10.55
11.39
10.77
10.42
5.05
3.59
-0.21
-0.61
0.05
3.35
2.46
1.3
-2.15
-1.18
6.59
0.82
1.28
ROIC %
14.32
23.05
15.78
10.1
10.52
8.96
9.06
9.17
9.07
7.72
5.8
5.39
4.5
7.24
5.47
5.85
5.63
WACC %
--
--
13.49
--
2.22
0.95
1.88
7.73
5.93
4.2
2.94
1.35
0.43
4.1
2.15
1.49
1.11
Effective Interest Rate on Debt %
25.02
26.42
28.04
28.87
30.92
31.37
26.36
24.25
26.65
30.28
30.55
32.73
29.71
25.65
30.29
30.66
31.67
Gross Margin %
6.67
6.86
7.47
7.05
6.25
4.89
0.25
-1.82
0.24
6.01
2.9
2.34
-5.78
-2.93
1.66
2.58
2.97
Operating Margin %
5.42
5.84
5.83
6.1
4.53
4.5
0.87
-3.68
-0.7
2.92
1.53
1.52
-4.22
-3.27
-0.01
0.16
1.35
Net Margin %
6.55
9.93
3.99
-10.07
-5.2
-6.81
-10.14
-9.8
-10.87
-5.04
-10.84
-11.18
-14.16
-17.37
-14.04
-7.01
-10.99
FCF Margin %
--
0.01
--
--
0.44
0.4
0.62
0.65
0.74
0.78
0.84
0.49
0.56
0.74
1.08
0.93
0.95
Debt-to-Equity
0.73
0.72
0.73
0.74
0.58
0.6
0.51
0.5
0.48
0.48
0.47
0.59
0.54
0.49
0.42
0.44
0.44
Equity-to-Asset
--
0.01
--
--
0.26
0.24
0.32
0.33
0.35
0.37
0.4
0.29
0.3
0.36
0.45
0.41
0.42
Debt-to-Asset
0.27
0.28
0.26
0.26
0.42
0.4
0.48
0.49
0.52
0.52
0.53
0.41
0.46
0.51
0.58
0.55
0.55
Liabilities-to-Assets
32.64
32.22
31.14
30.89
22.2
18.64
14.53
15.42
19.19
20.33
19.01
19.07
14.88
14.48
15.9
13.52
14.46
Gross-Profit-to-Asset %
1.3
1.22
1.11
1.07
0.72
0.59
0.55
0.64
0.72
0.67
0.62
0.58
0.5
0.56
0.53
0.44
0.46
Asset Turnover
120
101
93.77
92.85
90.3
83.77
63.53
39.6
35.65
33.02
34.33
34.17
37.79
35.54
37.83
35.03
29.89
Days Sales Outstanding
49.99
45.18
42.29
47.26
54.42
49.74
42.11
34.01
33.48
33.28
32
34.09
41.97
37.36
38.65
38.35
35.12
Days Payable
48.53
46.05
46.94
51.42
57.02
60.17
64.91
50.33
41.59
46.95
50.71
53.65
58.54
51.13
59.97
73.63
71.68
Days Inventory
119
101
98.42
97.01
92.9
94.2
86.33
55.92
43.76
46.69
53.04
53.73
54.36
49.31
59.15
70.31
66.45
Cash Conversion Cycle
7.52
7.93
7.78
7.1
6.4
6.07
5.62
7.25
8.78
7.77
7.2
6.8
6.24
7.14
6.09
4.96
5.09
Inventory Turnover
0.75
0.74
0.72
0.71
0.69
0.69
0.74
0.76
0.73
0.7
0.69
0.67
0.7
0.74
0.7
0.69
0.68
COGS-to-Revenue
0.1
0.09
0.09
0.1
0.11
0.11
0.13
0.1
0.08
0.09
0.1
0.1
0.11
0.1
0.12
0.14
0.13
Inventory-to-Revenue
0.06
0.03
0.04
0.2
0.22
0.28
0.27
0.18
0.26
0.3
0.32
0.38
0.37
0.33
0.33
0.39
0.36
Capex-to-Revenue
* All financial numbers are in millions except for per share data, ratios and percentage change. When Return-on-Tangible-Equity displays Neg. E, it means the the tangible equity is negative.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Financial Satement



Income Statement

Mar06
Mar07
Mar08
Mar09
Mar10
Mar11
Mar12
Mar13
Mar14
Mar15
Mar16
Mar17
Mar18
Mar19
Mar20
Mar21
TTM Fiscal Period
434
517
575
628
688
802
864
1120
1351
1383
1417
1559
1595
2068
2309
2256
2538
Revenue
325
380
414
447
475
551
636
848
991
964
984
1049
1121
1538
1610
1564
1734
Cost of Goods Sold
109
136
161
181
213
252
228
272
360
419
433
510
474
531
700
692
804
Gross Profit
25.02
26.42
28.04
28.87
30.92
31.37
26.36
24.25
26.65
30.28
30.55
32.73
29.71
25.65
30.29
30.66
31.67
Gross Margin %
57.06
69.9
76.37
98.62
133
164
182
241
282
271
298
333
385
458
523
512
577
Selling, General, & Admin. Expense
15.76
21.63
32.27
29.62
27.33
28.71
24.99
35.45
60.74
46.67
77.18
130
168
123
130
116
136
Research & Development
6.81
9.5
9.56
8.82
9.49
19.41
18.73
15.58
14.61
17.97
16.44
10.79
12.23
9.66
7.61
5.48
15.95
Other Operating Expense
79.62
101
118
137
170
212
225
292
357
335
392
474
566
591
661
634
728
Total Operating Expense
28.93
35.45
42.93
44.29
43.01
39.25
2.19
-20.36
3.3
83.14
41.12
36.46
-92.19
-60.62
38.42
58.23
75.45
Operating Income
6.67
6.86
7.47
7.05
6.25
4.89
0.25
-1.82
0.24
6.01
2.9
2.34
-5.78
-2.93
1.66
2.58
2.97
Operating Margin %
--
--
5.71
1.46
0.62
0.32
0.06
0.17
0.04
2.02
2.23
1.01
0.96
0.15
1.65
0.44
0.21
  Interest Income
--
--
-0.56
-0.51
-7.35
-3.15
-8.31
-43.99
-37.94
-31.45
-25.75
-12.08
-4.03
-50.01
-38.64
-32.69
-25.76
  Interest Expense
--
--
5.16
0.95
-6.73
-2.83
-8.25
-43.82
-37.9
-29.43
-23.52
-11.08
-3.07
-49.86
-36.99
-32.25
-25.54
Net Interest Income
-0.2
1.74
--
--
--
--
--
-26.5
-0
--
--
--
-10.22
--
--
0
4.12
Other Income (Expense)
28.73
37.19
48.09
45.24
36.28
36.42
-6.05
-90.68
-34.6
53.72
17.6
25.38
-105
-110
1.43
25.99
54.03
Pre-Tax Income
-5.11
-6.76
-13.52
-6.79
-5.44
0
13.65
50.05
25.95
-13.83
4.17
-3.62
35.22
41.01
7.92
-9.44
-8.92
Tax Provision
17.77
18.17
28.12
15.02
14.99
-0.01
226
55.2
74.98
25.74
-23.71
14.25
33.39
37.12
-554
36.33
16.5
Tax Rate %
23.52
30.17
34.56
38.45
30.84
36.42
7.6
-40.63
-8.66
39.89
21.77
21.77
-68.28
-66.47
13.81
17.1
45.4
Net Income (Continuing Operations)
-0.11
-0.27
-1.05
-0.12
0.3
-0.31
-0.1
-0.54
-0.79
0.47
-0.03
2
0.97
-1.15
-14.03
-13.41
-11.02
  Other Income (Minority Interest)
23.52
30.17
33.51
38.33
31.14
36.12
7.5
-41.17
-9.45
40.36
21.74
23.77
-67.31
-67.62
-0.21
3.69
34.38
Net Income
5.42
5.84
5.83
6.1
4.53
4.5
0.87
-3.68
-0.7
2.92
1.53
1.52
-4.22
-3.27
-0.01
0.16
1.35
Net Margin %
0.87
1.06
1.11
1.25
0.94
0.88
0.18
-0.94
-0.21
0.86
0.45
0.45
-1.15
-1.13
-0
0.06
0.49
EPS (Basic)
0.81
0.98
1.04
1.2
0.89
0.84
0.17
-0.94
-0.21
0.84
0.44
0.45
-1.15
-1.13
-0
0.06
0.48
EPS (Diluted)
29.03
30.89
32.22
31.88
34.84
43.06
44.23
43.93
45.74
48.29
49.45
53.4
58.44
59.94
61.63
67.02
74.87
Shares Outstanding (Diluted Average)
28.93
35.45
48.64
45.75
43.63
39.58
2.25
-46.69
3.33
85.17
43.35
37.47
-101
-60.47
40.07
58.67
79.79
EBIT
21.9
26.86
28.04
28.61
46.96
103
126
157
185
221
242
246
256
319
342
397
449
Depreciation, Depletion and Amortization
50.83
62.3
76.68
74.36
90.59
143
128
110
188
307
285
283
154
258
382
456
529
EBITDA

Cashflow Statement

Mar06
Mar07
Mar08
Mar09
Mar10
Mar11
Mar12
Mar13
Mar14
Mar15
Mar16
Mar17
Mar18
Mar19
Mar20
Mar21
TTM Fiscal Period
23.52
30.17
33.51
38.45
30.84
36.42
7.6
-40.63
-8.66
39.89
21.77
21.77
-68.28
-66.47
13.81
17.1
45.4
Net Income From Continuing Operations
21.9
26.86
28.04
28.61
46.96
103
126
157
185
221
242
246
256
319
342
397
449
Depreciation, Depletion and Amortization
-2.32
5.22
-16.01
-9.1
-1.12
-14.14
-21.03
-57.12
-9.22
3.75
-26.34
16.07
-12.44
-46.11
-44.81
84.41
-48.49
  Change In Receivables
-12.82
5.24
-13.98
-5.34
-9.37
-14.03
-25.27
21.23
-11.42
-1.22
-26.75
-12.39
-37.56
-36.59
-59
-42.46
-13.35
  Change In Inventory
10.26
-11.56
9.56
4.39
23.58
39.09
40.96
13.97
10.33
20.88
4.91
49.01
92.55
65.76
83.3
131
64.65
  Change In Payables And Accrued Expense
14.72
17.18
-1.9
-0.02
2.14
-1.62
-1.98
-9.35
-7.31
-23.76
-4.16
-10.09
46.65
-3.88
-27.57
8.43
-4.54
  Change In Other Working Capital
9.83
16.09
-22.33
-10.07
15.23
9.3
-7.32
-31.27
-17.63
-0.36
-52.33
42.6
89.19
-20.82
-48.08
181
-1.73
Change In Working Capital
-5.41
-10.34
0.49
-5.29
4.23
-4.1
-13.33
-50.73
-27.18
12.42
-5
-0.22
-36.56
-43.81
--
--
-- Deferred Tax
--
--
7.12
9.84
12.21
17.44
21.38
27.04
33.64
39.35
47.51
55.78
68.55
79.6
86.55
84.88
84.79
Stock Based Compensation
2.33
3.97
1.47
0.4
3.08
7.5
7.61
30.21
39.9
36.78
42.92
45.44
50.07
60.44
42.47
47.21
43.68
Cash Flow from Others
52.17
66.74
48.3
61.94
113
170
141
91.8
205
350
297
411
359
328
437
727
621
Cash Flow from Operations
-23.73
-15.45
-22.77
-117
-135
-208
-205
-176
-308
-366
-378
-515
-512
-637
-694
-827
-849
Purchase Of Property, Plant, Equipment
--
--
--
--
--
--
--
--
--
--
--
27.56
--
14.03
--
--
-- Sale Of Property, Plant, Equipment
--
--
-9.83
-0.93
-378
-13.46
--
--
-2.4
-57.38
-5.66
-157
--
-2.34
--
--
-139
Purchase Of Business
-0
--
-11.84
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Purchase Of Investment
--
0.12
11.84
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Sale Of Investment
--
--
-2.58
-8.03
-13.8
-15.99
-24.05
-25.27
-44.46
-52.69
-72.73
-70.97
-72.85
-49.97
-67.11
-58.03
-51.08
Net Intangibles Purchase And Sale
-15.99
-7.69
-0
-0
7.3
-0
0
-0
0
0
-0
0
0
186
2.28
0
0
Cash From Other Investing Activities
-39.73
-23.02
-35.17
-126
-519
-238
-229
-202
-354
-477
-456
-715
-584
-489
-759
-885
-1039
Cash Flow from Investing
9.88
14.48
8.39
8.24
124
26.4
11.89
--
--
--
--
503
--
--
--
175
-- Issuance of Stock
--
--
-1.03
-0.67
-10.33
-5.88
-7.45
-8.41
-15.59
-14.79
-16.4
-21.67
-24.21
-28.83
-28.8
-13.68
-14.67
Repurchase of Stock
--
4.72
--
20
535
40
595
300
295
364
351
167
753
1110
420
400
320
  Issuance of Debt
--
--
--
-24.72
-203
-40
-380
-272
-190
-245
-205
-270
-575
-733
-59.69
-421
-32.84
  Payments of Debt
--
4.72
--
-4.72
332
--
215
28.42
105
119
146
-103
178
377
360
-20.55
287
Net Issuance of Debt
--
3.32
0.98
0.35
-12.78
-1.91
0.36
22.94
12.42
17.34
19.69
13.92
12.48
6.28
33.68
9.17
15.6
Other Financing
9.88
22.52
8.33
3.2
432
18.61
220
42.95
102
121
149
393
166
355
365
150
288
Cash Flow from Financing
-0.17
0.38
0.37
-0.68
0.53
0.36
-0.13
-0.03
0.13
-0.51
0.05
-1.07
1.43
-2.49
-0.71
0.01
-3.33
Effect of Exchange Rate Changes
22.14
66.62
21.83
-61.69
26.14
-49.14
132
-66.85
-47.39
-6.08
-10.18
88.01
-58.65
190
42.61
-8.36
-133
Net Change in Cash
-23.73
-15.45
-25.35
-125
-148
-224
-229
-202
-352
-419
-451
-586
-584
-687
-761
-885
-900
Capital Expenditure
28.43
51.29
22.96
-63.28
-35.79
-54.65
-87.57
-110
-147
-69.66
-154
-174
-226
-359
-324
-158
-279
Free Cash Flow
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Financial Satement


Balance Sheet

Mar06
Mar07
Mar08
Mar09
Mar10
Mar11
Mar12
Mar13
Mar14
Mar15
Mar16
Mar17
Mar18
Mar19
Mar20
Mar21
TTM Fiscal Period
36.72
103
125
63.49
89.63
40.49
173
106
58.35
52.26
42.09
130
71.45
262
304
296
218
  Cash And Cash Equivalents
0.16
0.05
0.04
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Marketable Securities
36.89
103
125
63.49
89.63
40.49
173
106
58.35
52.26
42.09
130
71.45
262
304
296
218
Cash, Cash Equivalents, Marketable Securities
145
140
155
164
176
192
109
134
130
120
146
146
185
218
260
173
273
  Accounts Receivable
--
--
--
2.46
9.02
0.03
103
133
142
146
140
118
83.13
82.03
70.27
66.09
96.53
  Other Current Receivables
145
140
155
167
185
192
212
267
272
266
287
264
268
300
331
239
369
Total Receivables
28.46
19.84
21.09
33.61
36.26
46.65
46.21
40.31
42.79
42.72
46.76
56.1
62.25
77.83
83.35
98.34
86.81
  Inventories, Raw Materials & Components
9.86
7.96
8.88
14.88
21.35
18.71
23.93
21.3
22.28
22.96
27.2
25.82
47.47
52.08
59.43
71.88
75.66
  Inventories, Work In Process
11.56
18.23
30.35
17.08
25.36
33.19
57.51
44.68
54.54
62.69
71.2
81.29
86.59
105
152
166
186
  Inventories, Finished Goods
--
-0
--
--
--
--
--
0
--
-0
--
--
-0
--
0
--
--   Inventories, Other
49.88
46.03
60.33
65.56
82.96
98.56
128
106
120
128
145
163
196
235
294
337
348
Total Inventories
12.97
18.94
34.6
43.21
37.18
39.92
51.23
65.88
81.78
44.7
47.58
57.84
77.14
90.65
116
120
131
Other Current Assets
244
308
376
339
395
371
563
545
532
492
522
615
613
887
1046
991
1066
Total Current Assets
--
--
--
--
--
--
--
--
--
--
--
142
164
161
160
177
-- Investments And Advances
3.12
--
3.12
3.12
4.38
4.38
4.38
4.11
1.62
1.62
41.96
14.57
15.32
2.29
2.29
2.29
3.97
  Land And Improvements
7.62
12.98
--
--
8.92
8.92
8.92
8.92
8.92
8.92
8.92
8.92
8.92
8.92
8.92
8.92
12.39
  Buildings And Improvements
87.3
92.93
104
110
204
264
996
1055
1129
1190
1252
1368
2151
1074
1285
1563
1693
  Machinery, Furniture, Equipment
5.81
2.44
3.5
5.27
18.58
80.98
16.57
23.03
164
347
589
893
471
757
1127
1558
1848
  Construction In Progress
--
3.12
21.99
128
20.12
24.55
136
229
283
318
332
353
411
1577
1987
2043
2136
  Other Gross PPE
104
111
133
246
256
382
1162
1320
1587
1866
2225
2637
3056
3419
4410
5175
5693
Gross Property, Plant and Equipment
-57.64
-60.01
-67.88
-75.89
-100
-149
-281
-406
-534
-685
-840
-989
-1094
-1294
-1515
-1784
-1887
  Accumulated Depreciation
46.21
51.46
64.69
170
156
233
881
914
1053
1180
1385
1649
1962
2125
2895
3391
3806
Property, Plant and Equipment
52.12
103
96.16
86.9
164
165
200
202
226
296
331
382
416
411
418
422
723
Intangible Assets
28.13
65.99
66.41
65.43
75.02
83.53
83.46
83
83.63
117
117
120
121
122
121
122
191
  Goodwill
20.53
21.16
14.61
26.99
578
636
83.61
134
150
190
160
167
259
331
365
369
398
Other Long Term Assets
119
176
175
284
898
1035
1164
1249
1428
1667
1876
2340
2802
3028
3838
4358
4926
Total Long-Term Assets
363
484
551
623
1294
1406
1727
1794
1960
2158
2397
2955
3414
3915
4884
5349
5993
Total Assets
50.58
43.52
52.32
63.4
78.36
71.71
75.04
83.01
98.85
76.93
95.65
100
157
157
184
145
193
  Accounts Payable
--
--
1.1
--
--
--
--
--
--
--
--
--
--
--
--
--
--   Other Current Payables
40.97
62.47
73.96
72.04
102
131
44.03
63.32
71.67
70.35
76.52
98.79
90.77
120
147
173
185
  Current Accrued Expense
91.55
106
127
135
181
202
119
146
171
147
172
199
248
278
331
319
378
Accounts Payable & Accrued Expense
--
--
--
--
--
1.13
1.24
2.23
1.86
0.26
0.27
0.29
45.3
19.94
29.79
30.47
29.97
  Short-Term Debt
--
--
--
--
--
--
--
--
--
--
--
--
--
--
42.15
48.9
51.68
  Short-Term Capital Lease Obligation
--
--
--
--
--
1.13
1.24
2.23
1.86
0.26
0.27
0.29
45.3
19.94
71.93
79.37
81.65
Short-Term Debt & Capital Lease Obligation
--
--
--
--
--
--
88.11
65.82
69.13
83.53
64.62
76.68
121
126
123
217
201
  Current Deferred Revenue
--
--
--
--
--
--
88.11
65.82
69.13
83.53
64.62
76.68
121
126
123
217
201
DeferredTaxAndRevenue
--
14.76
--
--
--
0
27.62
32.77
33.32
37.19
42.92
49.49
51.46
62.33
78.89
93.85
73.28
Other Current Liabilities
91.55
121
127
135
181
203
236
247
275
268
280
326
466
485
605
708
734
Total Current Liabilities
--
4.13
--
--
332
334
549
586
690
806
946
848
978
1393
1822
1803
2111
  Long-Term Debt
--
--
--
--
--
--
--
--
--
--
--
--
--
--
287
314
311
  Long-Term Capital Lease Obligation
--
4.13
--
--
332
334
549
586
690
806
946
848
978
1393
2108
2116
2421
Long-Term Debt & Capital Lease Obligation
--
0.01
--
--
0.44
0.4
0.62
0.65
0.74
0.78
0.84
0.49
0.56
0.74
1.08
0.93
0.95
Debt-to-Equity
--
--
4.39
6.19
--
--
22.72
25.87
20.67
13.56
14.29
17.3
91.6
88.04
80.8
84.65
102
NonCurrent Deferred Liabilities
7.63
9.14
12.9
18.53
24.4
23.84
27.63
26.77
28.22
26.43
23.08
25.43
29.64
32.79
40.13
52.7
61.73
Other Long-Term Liabilities
7.63
13.27
17.29
24.72
356
358
599
639
739
846
983
891
1100
1514
2229
2254
2585
Total Long-Term Liabilities
99.17
134
145
160
537
562
835
886
1013
1115
1263
1217
1566
1999
2834
2962
3319
Total Liabilities
0
0
0
0
0
0
0
0
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
Common Stock
85.8
116
149
187
219
255
262
221
212
252
274
297
286
246
245
249
269
Retained Earnings
-0.19
0.13
0.18
-0.13
0.46
2.28
1.44
0.61
2.31
0.15
0.01
-2.5
15.57
5.34
-6.05
9.8
-16.87
Accumulated other comprehensive income (loss)
178
233
256
273
546
601
650
715
776
786
855
1440
1536
1657
1788
2093
2382
Additional Paid-In Capital
--
--
-1.03
-1.7
-12.03
-17.91
-25.36
-33.77
-49.36
--
--
--
--
--
--
--
-- Treasury Stock
--
0
--
0
0
--
--
--
-0
0
--
-0
-0
--
--
0
-- Other Stockholders Equity
263
349
404
459
753
840
888
903
941
1039
1129
1735
1837
1908
2028
2351
2635
Total Stockholders Equity
0.84
1.12
2.29
4.04
3.75
4.12
4.22
4.83
5.62
5.15
5.32
3.31
10.84
8.33
22.36
35.77
38.66
Minority Interest
264
350
406
463
757
844
892
908
947
1044
1134
1738
1848
1916
2050
2387
2673
Total Equity
0.73
0.72
0.73
0.74
0.58
0.6
0.51
0.5
0.48
0.48
0.47
0.59
0.54
0.49
0.42
0.44
0.44
Equity-to-Asset
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Valuation Ratios



Valuation Ratios

Mar06
Mar07
Mar08
Mar09
Mar10
Mar11
Mar12
Mar13
Mar14
Mar15
Mar16
Mar17
Mar18
Mar19
Mar20
Mar21
TTM Fiscal Period
35.37
33.64
20.88
17.35
38.89
47.43
284
At Loss
At Loss
70.96
167
142
At Loss
At Loss
At Loss
801
89.22
PE Ratio
35.37
33.64
20.88
17.35
38.89
47.43
284
At Loss
At Loss
70.96
167
142
At Loss
At Loss
At Loss
801
89.22
PE Ratio without NRI
20.75
20.89
27.22
34.24
42.47
39.92
--
--
--
93.14
--
--
--
--
--
--
-- Price-to-Owner-Earnings
3
2.81
1.64
1.41
1.83
1.98
2.34
2.41
3.39
2.74
3.18
2.12
2.11
2.46
1.1
1.4
1.19
PB Ratio
3.74
3.99
2.15
1.74
2.34
2.46
3.02
3.11
4.46
3.83
4.5
2.72
2.72
3.14
1.39
1.71
1.63
Price-to-Tangible-Book
29.26
19.86
30.51
--
--
--
--
--
--
--
--
--
--
--
--
--
-- Price-to-Free-Cash-Flow
15.94
15.26
14.49
10.72
10.72
10.11
15.08
23.18
15.39
8.23
12.24
8.29
10.71
14.18
5.07
4.43
4.88
Price-to-Operating-Cash-Flow
1.92
1.97
1.22
1.06
1.75
2.14
2.47
1.9
2.34
2.08
2.56
2.19
2.41
2.25
0.96
1.43
1.21
PS Ratio
--
--
--
1.36
3.55
3.96
25.19
--
--
5.69
8.2
6.37
--
--
--
142
17.16
PEG Ratio
1.74
1.71
0.94
0.94
2.36
2.44
2.84
2.38
2.83
2.61
3.18
2.82
3.03
2.83
1.79
2.32
2.13
EV-to-Revenue
14.85
14.16
7.03
7.91
17.92
13.73
19.23
24.13
20.33
11.75
15.78
15.52
31.35
22.67
10.81
11.47
10.23
EV-to-EBITDA
26.08
24.89
11.08
12.85
37.2
49.5
1090
-57.11
1149
42.3
104
117
-47.66
-96.78
103
89.14
67.82
EV-to-EBIT
3.83
4.02
9.03
7.78
2.69
2.02
0.09
-1.75
0.09
2.36
0.96
0.85
-2.1
-1.03
0.97
1.12
1.47
Earnings Yield (Joel Greenblatt) %
0.36
1.94
23.46
13.61
11.18
11.18
9.27
1.01
3.83
9.16
16.73
16.1
-0.57
-16.75
-19.24
-2.89
2.83
Forward Rate of Return (Yacktman) %
71.49
68.76
38.74
33.19
51.5
55.63
64.96
68.67
109
94.38
126
121
221
1713
--
--
-- Shiller PE Ratio

Valuation and Quality

Mar06
Mar07
Mar08
Mar09
Mar10
Mar11
Mar12
Mar13
Mar14
Mar15
Mar16
Mar17
Mar18
Mar19
Mar20
Mar21
TTM Fiscal Period
791
980
662
647
1377
1660
2075
2179
3192
2843
3595
3676
3871
4693
2232
3294
3126
Market Cap
755
882
539
588
1623
1959
2457
2666
3831
3603
4504
4398
4834
5852
4131
5230
5411
Enterprise Value
28.65
32.97
21.72
20.82
34.61
39.84
48.21
48.44
69.04
59.61
73.48
63.82
65.72
77.5
35.92
48.07
42.56
Month End Stock Price
-2.29
-1.07
-0.71
-3.24
-11.33
-12.6
-15.48
-17.46
-20.78
-22.38
-25.06
-18.92
-25.56
-28.83
-41.06
-39.43
-42.76
Net Cash per Share
5.23
5.82
7.51
5.62
-3.65
-4.67
-6.41
-7.7
-10.54
-13.17
-15.26
-10.51
-16.37
-18.5
-29.13
-29.28
-31.2
Net Current Asset Value
2.55
3.23
4.1
1.77
-6.97
-7.97
-12.11
-14.04
-17.38
-19.14
-21.33
-15.61
-21.54
-24.19
-35.55
-35.08
-37.6
Net-Net Working Capital
6.81
13.13
17.64
15.07
15.15
13.32
9.97
4.64
-4.83
-7.3
-10.24
-4.99
2.79
-3.71
-6.01
-5.61
-9.16
Intrinsic Value: Projected FCF
--
32.47
33.6
36.8
35.34
33.05
35.29
47.64
54.9
55.07
56.1
60.01
58.27
75.15
81.48
73.2
76.43
Median PS Value
--
--
--
15.45
9.75
10.06
1.91
--
--
10.46
8.96
10.01
--
--
--
0.21
6.18
Peter Lynch Fair Value
11.81
13.5
15.38
17.97
17.21
17.49
7.82
--
--
17.15
12.71
15.42
--
--
--
6.17
16.72
Graham Number
1.9
5.34
10.57
4.6
6.18
-2.97
-13.74
-27.12
-42.67
-52.92
-62.77
-59.75
-76.87
-80.88
-99.85
-95.63
-96.22
Earnings Power Value (EPV)
7.07
6.51
5
4.49
2.62
2.83
2.44
2.38
2.89
2.59
2.64
2.64
2.02
2.1
1.15
1.25
1.16
Altman Z-Score
7
5
7
6
4
5
4
5
5
5
5
6
3
5
4
6
6
Piotroski F-Score
-2.79
-2.77
-2.57
-2.54
-2.23
-2.88
-3.3
-2.46
-3.04
-3.21
-2.88
-2.98
-2.76
-2.75
-2.91
-3.44
-2.58
Beneish M-Score
0.75
0.69
0.58
0.73
1.6
0.88
0.9
0.81
0.88
0.92
0.94
1.03
0.95
0.9
1
0.88
0.83
Scaled Net Operating Assets
3.05
-2.8
3.7
16.46
33.83
7.41
5.5
3.82
7.14
7.76
7.55
11.08
4.64
2.41
6.59
3.02
7.54
Sloan Ratio %
2.67
2.55
2.95
2.5
2.19
1.82
2.39
2.2
1.93
1.83
1.86
1.89
1.31
1.83
1.73
1.4
1.45
Current Ratio
2.13
2.17
2.48
2.02
1.73
1.34
1.85
1.77
1.5
1.35
1.34
1.39
0.89
1.34
1.24
0.92
0.98
Quick Ratio
0.4
0.86
0.98
0.47
0.5
0.2
0.73
0.43
0.21
0.19
0.15
0.4
0.15
0.54
0.5
0.42
0.3
Cash Ratio
No Debt
N/A
77.07
87.01
5.85
12.45
0.26
--
0.09
2.64
1.6
3.02
--
--
0.99
1.78
2.93
Interest Coverage
28.65
35.6
36.16
27.74
35
45.74
49.67
49.29
73.62
70.24
75.84
81.15
80.18
77.87
94.25
60.32
68.76
Highest Stock Price
17.5
22.7
19.64
15.42
21.07
30.96
31.54
33.85
45.53
53.01
56.71
62.77
59.12
56.46
27.46
30.57
29.82
Lowest Stock Price
-2.73
-7.75
-2.47
-2.07
-27.96
-4.7
-3.32
-4.47
-2.79
-3.18
-2.58
-17.73
-2.27
-2.79
-2.64
-10.27
-8.75
Shares Buyback Ratio %
-1.25
-1.48
-1.11
-1.17
-8.23
-1.24
-0.21
0.39
0.49
0.52
0.46
-13.1
0.63
0.61
1.29
-4.89
0.47
Buyback Yield %
21.59
11.9
6.65
10.48
0.24
-5.67
4.82
30.52
15.92
-3.08
0.12
1.87
-6.56
26.45
8.59
-10.16
-0.92
YoY Rev. per Sh. Growth
19.12
20.99
6.12
15.38
-25.83
-5.62
-79.76
-653
77.66
500
-47.62
2.27
-356
1.74
99.73
2100
1160
YoY EPS Growth
21.85
15.19
18
-2.02
11.49
27.38
-12.77
-12.95
63.78
54.16
-9.1
-8.06
-50.27
63.21
44
9.66
16.9
YoY EBITDA Growth
--
--
--
12.77
10.96
11.98
11.26
4.63
6.63
12.48
20.37
22.25
3.88
-12.37
-7.5
5.66
5.2
5-Year EBITDA Growth Rate
27.03
28.59
30.23
30.77
33.02
40.86
42.33
43.93
45.74
47.14
48.46
52.32
58.44
59.94
61.63
66.44
73.54
Shares Outstanding (Basic Average)
27.59
29.73
30.47
31.1
39.79
41.66
43.05
44.97
46.23
47.7
48.93
57.6
58.91
60.55
62.15
68.53
73.44
Shares Outstanding (EOP)
1.58
3.07
2.06
1.22
1.17
1.07
1.3
1.24
1.28
1.19
0.78
0.67
0.47
1.09
1.44
1.15
1.18
Beta
06/06/06
05/31/07
05/27/08
05/28/09
06/01/10
05/27/11
05/25/12
05/24/13
05/27/14
05/26/15
05/26/16
05/25/17
05/30/18
05/29/19
05/29/20
05/28/21
  Filing Date
05/31/07
05/31/07
05/28/09
06/01/10
05/27/11
05/24/13
05/27/14
05/26/15
05/26/16
05/25/17
05/30/18
05/29/19
05/29/20
05/28/21
05/28/21
05/28/21
  Restated Filing Date
05/14/09
05/17/11
05/17/12
05/16/13
05/20/14
05/19/15
05/24/16
05/23/17
05/24/18
05/23/19
05/26/20
05/25/21
  Earnings Release Date
--
--
899
992
1093
1288
1351
1416
1595
1193
664
612
575
486
420
--
-- Number of Shareholders
1289
1463
1680
1800
--
--
2400
2700
--
--
3800
4300
5200
5600
6100
5800
5800
Number of Employees
* All financial numbers are in millions except for per share data, ratios and percentage change.
GuruFocus Manual of Stocks™  |  Dec 06, 2021
Viasat Inc (NAS:VSAT)
www.gurufocus.com/stock/NAS:VSAT

Explanation

1. Predictability Rank

GuruFocus Predictability Rank is a proprietary ranking of the consistency of a business. We rank the predictability of companies based on the consistency of their revenue per share and EBITDA (earnings before interest, tax, depreciation and amortization) per share over the past 10 fiscal years. Our study found that there is a strong correlation between the stock performance and the predictability of a business. Over the long term, companies with higher predictability also have better stock performance.

The rank is from 1-star to 5-star, with 5-star as the best.

2. Financial Strength

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

  1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
  2. Debt to revenue ratio. The lower, the better.
  3. Altman Z-Score.

The rank is from 1 to 10, with 10 as the highest.

A Financial Strength rank of 8 or above indicates good financial strength; between 4-7 indicates fair financial strength; 3 or below means poor financial strength.

3. Profitability Rank

GuruFocus Profitability Rank indicates how profitable a company is and how likely it is that the company's business will stay that way. It is based on these factors:

  1. Operating Margin %.
  2. Piotroski F-Score.
  3. Trend of the Operating Margin percentage (five-year average). A company with an uptrend in profit margin will have a higher rank.
  4. Consistency of the profitability.
  5. Predictability Rank.

The rank is from 1 to 10, with 10 as the highest.

A Profitability Rank of 8 or above indicates good profitability; between 4-7 indicates fair profitability; 3 or below means poor profitability.

4. Peter Lynch Chart

In Peter Lynch's excellent book, "One Up on Wall Street," he used many charts to illustrate the valuation of stocks. “A quick way to tell if a stock is overpriced is to compare the price line to the earnings line. If you bought familiar growth companies – such as Shoney’s, The Limited, or Marriott – when the stock price fell well below the earnings line, and sold them when the stock price rose dramatically above it, the chances are you’d do pretty well.”

The original Peter Lynch Chart does have limitations due to the right side price scale is pre-set at 15 times the earnings scale on the left side. When the stock price and earnings line coincide, the price-to-earnings ratio is always 15 times. Instead of using the fixed PE Ratio of 15, our approach is using 15-year historical median PE without NRI Ratio for each stock.

The Peter Lynch Chart with earnings line at median PE without NRI ratio works well for the companies with steady growth and earnings trends, or the stalwarts, as coined by Lynch. These companies tend to be found in sectors such as consumer staples, healthcare, and utilities, where the consumption of the product or service is relatively independent of economic conditions. It does not work well with the sectors that are cyclical: industrials, chemicals, durable goods, and so forth.

5. GF Value

Based on the relationship between the current stock price and the GF Value, GuruFocus provides the following 6 evaluations:

  1. Possible Value Trap, Think Twice
  2. Significantly Overvalued
  3. Modestly Overvalued
  4. Fairly Valued
  5. Modestly Undervalued
  6. Significantly Undervalued
There is only a sufficient margin of safety when the stock is undervalued.

Disclaimer

GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.