ViaSat Inc Stock Research

Market Summary

USD31.75+0.12

Market Closed

0.38%

VSAT Alerts

Big fall in earnings (Y/Y)
Losses in recent quarter

VSAT Stock Price

VSAT RSI Chart

VSAT Valuation

Market Cap

2.5B

Price/Earnings (Trailing)

-19.44

Price/Sales (Trailing)

0.86

EV/EBITDA

11.51

Price/Free Cashflow

-4.14

VSAT Price/Sales (Trailing)

VSAT Profitability

EBT Margin

-0.23%

Return on Equity

-5.05%

Return on Assets

-1.92%

Free Cashflow Yield

-24.13%

VSAT Fundamentals

VSAT Revenue

Revenue (TTM)

3.0B

Revenue Y/Y

4.19%

Revenue Q/Q

-0.8%

VSAT Earnings

Earnings (TTM)

-130.7M

Earnings Y/Y

-913.16%

Earnings Q/Q

14.99%

Price Action

52 Week Range

25.3850.59

(Low)(High)

Last 7 days

-5.6%

Last 30 days

-1.8%

Last 90 days

2.5%

Trailing 12 Months

-35.8%

VSAT Financial Health

Current Ratio

1.47

Debt/Equity

1.02

Debt/Cashflow

0.17

VSAT Investor Care

Shares Dilution (1Y)

3.00%

Diluted EPS (TTM)

-1.88

Peers (Alternatives to ViaSat)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CSCO	207.0B	53.2B	4.25%	-5.73%	18.31	3.89	3.13%	-4.42%
ANET	51.5B	4.4B	23.93%	21.36%	38.11	11.76	48.62%	60.84%
MSI	45.9B	9.1B	4.74%	18.45%	33.7	5.04	11.52%	9.48%
UI	16.0B	1.8B	-1.97%	-6.79%	46.07	8.95	-2.33%	-35.05%
MID-CAP
FFIV	8.4B	2.7B	-0.92%	-33.60%	27.83	3.09	1.62%	-10.71%
CIEN	7.3B	3.8B	5.26%	-19.67%	39.7	1.89	3.69%	-62.64%
LITE	3.5B	1.8B	-5.09%	-48.31%	121.64	1.9	7.24%	-92.58%
VSAT	2.5B	3.0B	-1.82%	-35.82%	-19.44	0.86	18.78%	-488.35%
SMALL-CAP
INFN	1.6B	1.6B	9.81%	-13.79%	-20.93	1.01	10.39%	55.47%
COMM	1.2B	9.2B	-20.95%	-22.15%	-0.96	0.13	7.47%	-178.19%
ADTN	1.2B	1.0B	6.86%	8.53%	-566.29	1.12	82.15%	76.41%
NTGR	503.3M	932.5M	-2.55%	-28.76%	-7.3	0.54	-20.17%	-239.69%
CMBM	474.2M	296.9M	-14.06%	-23.97%	23.47	1.6	-11.60%	-46.02%

Financials for ViaSat

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	0.9%	2,963,553,000	2,937,376,000	2,889,850,000	2,787,635,000	2,495,066,000
S&GA Expenses	-0.4%	707,652,000	710,662,000	686,195,000	657,251,000	606,211,000
R&D Expenses	-4.7%	141,229,000	148,165,000	155,361,000	153,203,000	142,277,000
EBITDA	-1.0%	435,004,000	439,587,000	349,415,000	420,328,000	-
EBITDA Margin	-1.9%	0.15	0.15	0.14	-	-
Earnings Before Taxes	-617.9%	-6,712,000	-935,000	-34,777,000	-16,439,000	-26,438,000
EBT Margin	-612.3%	0.00	0.00	-0.02	-	-
Interest Expenses	12.1%	30,853,000	27,517,000	28,972,000	29,391,000	23,289,000
Net Income	-38.7%	-130,675,000	-94,240,000	-41,534,000	-2,483,000	33,649,000
Net Income Margin	-37.4%	-0.04	-0.03	-0.01	-	-
Free Cahsflow	-24.5%	-612,793,000	-492,029,000	-458,821,000	-432,639,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	4.5%	6,802	6,510	6,483	6,389	6,087
Current Assets	9.2%	1,252	1,147	1,128	1,159	1,028
Cash Equivalents	22.1%	182	149	222	310	166
Inventory	6.8%	261	244	362	198	354
Net PPE	4.9%	4,198	4,003	3,864	3,705	3,603
Goodwill	2.6%	166	162	187	169	191
Liabilities	7.7%	4,180	3,882	3,781	3,707	3,411
Current Liabilities	5.9%	851	804	726	770	787
Long Term Debt	2.2%	2,647	2,590	2,486	2,149	-
LT Debt, Current	7.0%	41.00	39.00	38.00	35.00	30.00
Shareholder's Equity	-1.5%	2,589	2,628	2,702	2,634	2,676
Retained Earnings	-25.8%	121	164	212	234	263
Additional Paid-In Capital	0.4%	2,506	2,497	2,483	2,422	2,398
Accumulated Depreciation	0.7%	2,156	2,140	2,060	1,975	-
Shares Outstanding	0.5%	76.00	76.00	75.00	74.00	74.00
Minority Interest	5.7%	33.00	32.00	49.00	49.00	41.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-13.7%	437	506	480	506	556
Share Based Compensation	-0.3%	87.00	87.00	86.00	87.00	85.00
Cashflow From Investing	-5.5%	-1,129	-1,071	-1,001	-1,129	-1,033
Cashflow From Financing	41.8%	711	502	473	644	331

Risks for VSAT

What is the probability of a big loss on VSAT?

88.8%

Probability that ViaSat stock will be more than 20% underwater in next one year

53.9%

Probability that ViaSat stock will be more than 30% underwater in next one year.

39.6%

Probability that ViaSat stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does VSAT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if ViaSat was unfortunately bought at previous high price.

Drawdowns

Returns for VSAT

Cumulative Returns on VSAT

-4.1%

10-Year Cumulative Returns

-11.1%

7-Year Cumulative Returns

-13.8%

5-Year Cumulative Returns

-6.3%

3-Year Cumulative Returns

What are the long-term rolling returns for VSAT?

FIve years rolling returns for ViaSat.

Annualized Returns

Which funds bought or sold VSAT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	reduced	-1.92	39,293	1,503,760	0.01%
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-71.38	-1,845,710	789,288	0.02%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-45.37	-389,085	519,915	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-17.36	-1,000	7,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-48.53	-251,066	293,934	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	16,000	361,000	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-23,000	-	-%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	reduced	-35.9	-108,608	221,392	0.01%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	new	-	10,413	10,413	-%
2023-02-16	IMA Wealth, Inc.	reduced	-19.59	-242,022	1,288,980	0.34%

Latest Funds Activity

Are funds buying VSAT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own VSAT

No. of Funds

ViaSat News

Schedule 13G FIlings of ViaSat

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	fpr partners llc	6.3%	4,725,161	SC 13G/A
Feb 09, 2023	vanguard group inc	9.24%	6,982,968	SC 13G/A
Jan 24, 2023	blackrock inc.	9.2%	6,960,534	SC 13G/A
Feb 14, 2022	fpr partners llc	7.1%	5,230,410	SC 13G/A
Feb 10, 2022	vanguard group inc	8.90%	6,534,668	SC 13G/A
Feb 07, 2022	blackrock inc.	8.6%	6,301,804	SC 13G/A
Nov 10, 2021	baupost group llc/ma	22.18%	16,288,959	SC 13D/A
May 05, 2021	baupost group llc/ma	22.50%	16,288,959	SC 13D/A
Feb 16, 2021	fpr partners llc	9.8%	6,682,221	SC 13G/A
Feb 10, 2021	vanguard group inc	8.42%	5,741,162	SC 13G/A

VSAT Fair Value

ViaSat fair value in different scenarios

The table shows the Fair Value estimates for ViaSat for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	18.65 -41.26%	22.21 -30.05%	28.94 -8.85%	36.21 14.05%	44.10 38.90%
Current Inflation	17.71 -44.22%	20.80 -34.49%	26.53 -16.44%	32.67 2.90%	39.38 24.03%
Very High Inflation	16.55 -47.87%	19.07 -39.94%	23.64 -25.54%	28.51 -10.20%	33.88 6.71%

Historical ViaSat Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of ViaSat

View All Filings

Date Filed	Form Type	Document
Mar 08, 2023	4	Insider Trading
Mar 06, 2023	144	Notice of Insider Sale Intent
Feb 27, 2023	4	Insider Trading
Feb 22, 2023	4	Insider Trading
Feb 17, 2023	4	Insider Trading
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	10-Q	Quarterly Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 07, 2023	4	Insider Trading
Feb 07, 2023	8-K	Current Report

Latest Insider Trading transactions for VSAT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-06	Miller Craig Andrew	sold	-10,191	33.97	-300	pres. government systems
2023-02-24	Lippert Keven K	sold	-86,481	32.03	-2,700	executive vice president
2023-02-21	Lippert Keven K	sold	-90,261	33.43	-2,700	executive vice president
2023-02-15	Lippert Keven K	sold	-94,500	35.00	-2,700	executive vice president
2023-02-03	WISE THERESA	acquired	-	-	1,000	-
2023-01-05	NATHAN KRISHNA	gifted	-	-	8,323	chief information officer
2023-01-05	NATHAN KRISHNA	gifted	-	-	-8,323	chief information officer
2022-12-17	Dixon Evan Christopher	acquired	-	-	3,762	pres. global fixed broadband
2022-12-17	DANKBERG MARK D	gifted	-	-	12,057	chairman and ceo
2022-12-17	NATHAN KRISHNA	acquired	-	-	3,762	chief information officer

About ViaSat

Richard A. Baldridge

www.viasat.com

5800

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. This segment provides broadband Internet services to approximately 590,000 subscribers. Its Commercial Networks segment offers fixed satellite communication systems comprising satellite network infrastructure and ground terminals; mobile broadband satellite communication systems; antenna systems for terrestrial and satellite applications, such as earth imaging, remote sensing, mobile satellite communication, Ka-band earth stations, and other multi-band antennas; design and technology services comprising analysis, design, and development of satellites and ground systems; application specific integrated circuit and monolithic microwave integrated circuit chips; and network function virtualization. Its Government Systems segment offers various mobile and fixed broadband modems, terminals, network access control systems, and antenna systems; cybersecurity and information assurance products and services; and tactical radio and information distribution systems to enable voice, and real-time collection and dissemination of video and data using secure, and jam-resistant transmission links. The company was incorporated in 1986 and is headquartered in Carlsbad, California.

VSAT Income Statement

2022-09-30

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total revenues	$ 656,683	$ 609,157	$ 1,228,117	$ 1,179,937
Operating expenses:
Selling, general and administrative	177,191	152,724	348,816	303,393
Independent research and development	32,416	39,612	67,181	73,217
Amortization of acquired intangible assets	7,379	7,399	14,902	13,328
Income (loss) from operations	1,144	(24,418)	(57,363)	(38,683)
Other income (expense):
Interest income	6,809	71	6,932	134
Interest expense	(4,638)	(6,093)	(10,511)	(12,385)
Other income, net	87		1,098	4,118
Income (loss) from continuing operations before income taxes	3,402	(30,440)	(59,844)	(46,816)
(Provision for) benefit from income taxes from continuing operations	(76,079)	9,110	(52,503)	19,490
Equity in income (loss) of unconsolidated affiliate, net	(40)		(40)	(256)
Net income (loss) from continuing operations	(72,717)	(21,330)	(112,387)	(27,582)
Net income (loss) from discontinued operations, net of tax	25,161	26,480	43,792	50,744
Net income (loss)	(47,556)	5,150	(68,595)	23,162
Less: net income (loss) attributable to noncontrolling interest, net of tax	684	1,859	1,209	2,903
Net income (loss) attributable to Viasat, Inc.	$ (48,240)	$ 3,291	$ (69,804)	$ 20,259
Income (loss) per share attributable to Viasat, Inc. common stockholders - basic:
Continuing operations	$ (0.97)	$ (0.32)	$ (1.51)	$ (0.42)
Discontinued operations	0.33	0.36	0.58	0.70
Income (loss)	(0.64)	0.04	(0.93)	0.28
Income (loss) per share attributable to Viasat, Inc. common stockholders - diluted
Continuing operations	(0.97)	(0.32)	(1.51)	(0.42)
Discontinued operations	0.33	0.36	0.58	0.70
Income (loss)	$ (0.64)	$ 0.04	$ (0.93)	$ 0.28
Shares used in computing basic net income (loss) per share	75,758	73,544	75,313	72,549
Shares used in computing diluted net income (loss) per share	75,758	73,544	75,313	72,549
Comprehensive income (loss):
Net income (loss)	$ (47,556)	$ 5,150	$ (68,595)	$ 23,162
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax	(21,995)	(10,934)	(42,336)	(26,676)
Other comprehensive income (loss), net of tax	(21,995)	(10,934)	(42,336)	(26,676)
Comprehensive income (loss)	(69,551)	(5,784)	(110,931)	(3,514)
Less: comprehensive income (loss) attributable to noncontrolling interest, net of tax	684	1,859	1,209	2,903
Comprehensive income (loss) attributable to Viasat, Inc.	(70,235)	(7,643)	(112,140)	(6,417)
Product [Member]
Revenues:
Total revenues	254,861	221,055	424,106	426,697
Operating expenses:
Cost of revenues	171,105	183,905	318,581	347,916
Service [Member]
Revenues:
Total revenues	401,822	388,102	804,011	753,240
Operating expenses:
Cost of revenues	$ 267,448	$ 249,935	$ 536,000	$ 480,766

VSAT Balance Sheet

2022-09-30

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 149,172	$ 310,459
Accounts receivable, net	320,249	312,172
Inventories	244,284	197,864
Prepaid expenses and other current assets	148,122	141,386
Current assets of discontinued operations	285,249	197,591
Total current assets	1,147,076	1,159,472
Property, equipment and satellites, net	4,002,742	3,704,991
Operating lease right-of-use assets	317,921	343,339
Other acquired intangible assets, net	211,273	236,043
Goodwill	162,003	168,710
Other assets	669,265	699,280
Non-current assets of discontinued operations		77,511
Total assets	6,510,280	6,389,346
Current liabilities:
Accounts payable	244,917	200,673
Accrued and other liabilities	452,644	482,564
Current portion of long-term debt	38,577	34,911
Current liabilities of discontinued operations	67,484	52,273
Total current liabilities	803,622	770,421
Senior notes	1,687,705	1,686,225
Other long-term debt	959,274	764,991
Non-current operating lease liabilities	289,746	316,178
Other liabilities	141,742	153,156
Non-current liabilities of discontinued operations		15,781
Total liabilities	3,882,089	3,706,752
Commitments and contingencies (Note 10)
Viasat, Inc. stockholders’ equity
Common stock	8	7
Paid-in capital	2,496,783	2,421,950
Retained earnings	163,726	233,530
Accumulated other comprehensive (loss) income	(63,957)	(21,621)
Total Viasat, Inc. stockholders’ equity	2,596,560	2,633,866
Noncontrolling interest in subsidiary	31,631	48,728
Total equity	2,628,191	2,682,594
Total liabilities and equity	$ 6,510,280	$ 6,389,346