ViaSat (VSAT)
NASDAQ:VSAT
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ViaSat
(NASDAQ:VSAT)
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Rating:61Neutral
Price Target:
$69.00
▲(9.79% Upside)
Action:ReiteratedDate:04/09/26
The score is driven by improving operating/cash-flow trends and a constructive earnings outlook (positive FCF trajectory, record backlog, and deleveraging progress), supported by strong technical momentum. These positives are tempered by ongoing net losses/high leverage in the financial statements and a relatively expensive valuation (P/E ~44.9).
Positive Factors
Improved Cash Generation
Sustained swing to positive operating and free cash flow materially improves liquidity and debt service capacity. If maintained, this enables capex funding, satellite completion, and deleveraging without recurring reliance on one‑time proceeds, supporting multi‑year financial stability.
Negative Factors
Elevated Leverage
Higher leverage reduces financial flexibility and raises sensitivity to cash‑flow normalization. With debt up materially, continued positive FCF is required to meet deleveraging targets; otherwise refinancing risk or constrained investment could impair growth initiatives over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Cash Generation
Sustained swing to positive operating and free cash flow materially improves liquidity and debt service capacity. If maintained, this enables capex funding, satellite completion, and deleveraging without recurring reliance on one‑time proceeds, supporting multi‑year financial stability.
Read all positive factors
ViaSat (VSAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.85B
Dividend YieldN/A
Average Volume (3M)1.68M
Price to Earnings (P/E)44.9
Beta (1Y)0.93
Revenue Growth2.07%
EPS Growth20.79%
CountryUS
Employees7,500
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)-2.61
Shares Outstanding135,831,400
10 Day Avg. Volume1,469,983
30 Day Avg. Volume1,683,586
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.30
Price to Sales (P/S)0.30
P/FCF Ratio-11.12
Enterprise Value/Market Cap1.64
Enterprise Value/Revenue3.15
Enterprise Value/Gross Profit9.87
Enterprise Value/Ebitda8.96
Forecast
1Y Price Target
$62.40Price Target Upside-0.72% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-1.2
Revenue Forecast (FY)$4.83B
ViaSat Business Overview & Revenue Model
Company 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 serv...
How the Company Makes Money
Viasat makes money primarily by selling connectivity services, satellite capacity, and related networking products and managed solutions to three main customer groups: (1) Consumer and small-business broadband: It generates recurring revenue from ...
ViaSat Key Performance Indicators (KPIs)
Any
Contracts Awarded By Segment
Tracks new contracts secured in each segment, reflecting business development success and future revenue streams.
Tracks new contracts secured in each segment, reflecting business development success and future revenue streams.
Data provided by:
The Fly
The FlyViaSat Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:May 26, 2026
Earnings Call Sentiment Positive
The call presented a mix of clear operational progress and improving financial health (record backlog, positive free cash flow, improving leverage, ViaSat‑3 progress and strong DAT/maritime traction) alongside notable near‑term headwinds (quarterly awards softness, fixed‑broadband subscriber declines, modest EBITDA pressure from investments and government shutdown impacts, and some timing delays for ViaSat‑3 service entry). Management provided multi‑year strategic initiatives (multi‑orbit, Equatys L‑band, small satellite architecture) and reiterated targets for deleveraging and positive free cash flow, supporting a constructive outlook once new satellites enter service.Positive Updates
Revenue Growth
Consolidated revenue of $1.2 billion in Q3 FY26, up ~3% year-over-year, driven by growth in DAT and Communication Services.
Negative Updates
Awards Decline in the Quarter
Total awards were $1.0 billion, down ~10% YoY; Communication Services awards declined ~11% to $671 million, reflecting lumpy contract timing and softer aviation awards in the quarter.
Read all updates
Q3-2026 Updates
Positive
Negative
Revenue Growth
Consolidated revenue of $1.2 billion in Q3 FY26, up ~3% year-over-year, driven by growth in DAT and Communication Services.
Read all positive updates
Company Guidance
Viasat guided that fiscal 2026 revenue should be up low single digits with adjusted EBITDA flat for the year, and it expects positive free cash flow in FY‑26, FY‑27 and beyond (excluding non‑recurring Ligado lump‑sum receipts); Q3 results that underpin that outlook included revenue of $1.2B (≈+3%), adjusted EBITDA $387M (33% margin), cash from operations $727M ($307M excl. the Ligado lump sum), CapEx $283M, and free cash flow $444M ($24M excl. the lump sum) with trailing‑12‑month FCF in excess of $200M. Management said FY‑26 CapEx is now expected to be $100M–$200M lower than prior guidance of $1.0B–$1.1B (with that $1.0B–$1.1B roughly split as ~$200M capitalized interest, ~$450M maintenance, ~$200M ViaSat‑3 completion, ~$75M success‑based and ~$150M growth), noted Q3 ViaSat‑3 spend of ~$80M (YTD ~$130M) with just‑over $200M expected for the year and roughly $40M in Q1 FY‑27 remaining, and flagged net debt / TTM adjusted EBITDA of 3.25x (down from ~3.7x a year ago) with a target net leverage below 3.0. Other metrics tied to the outlook: backlog ≈$4B (+~12% / +$430M), awards $1B (‑10%), DAT revenue $332M (+9%) and DAT adjusted EBITDA $68M (+7%), Communication Services adjusted EBITDA $319M (‑3%), expected ~1,100 additional commercial aircraft under existing IFC agreements, NexusWave orders >2,600 (≈65% uninstalled), residential fixed broadband subscribers 143k with ARPU $112, and an estimated government‑shutdown EBITDA headwind of ~$10M in Q3 (with a similar impact expected in Q4); management also noted post‑quarter cash movements from Inmarsat of $175M (total transfers expected $400M–$500M; $350M moved so far).ViaSat Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
38
Negative
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.62B | 4.52B | 4.28B | 2.56B | 2.42B | 1.92B |
| Gross Profit | 1.47B | 1.49B | 1.38B | 721.40M | 705.90M | 565.19M |
| EBITDA | 1.62B | 1.24B | 363.98M | 397.12M | 403.70M | 294.95M |
| Net Income | -338.96M | -574.96M | -1.07B | 1.08B | -15.53M | 3.69M |
Balance Sheet | ||||||
| Total Assets | 14.91B | 15.45B | 16.33B | 7.73B | 6.39B | 5.35B |
| Cash, Cash Equivalents and Short-Term Investments | 1.35B | 1.61B | 1.90B | 1.35B | 310.46M | 295.95M |
| Total Debt | 7.22B | 7.52B | 7.64B | 2.78B | 2.85B | 2.20B |
| Total Liabilities | 10.28B | 10.80B | 11.26B | 3.87B | 3.71B | 2.96B |
| Stockholders Equity | 4.57B | 4.55B | 5.03B | 3.82B | 2.63B | 2.35B |
Cash Flow | ||||||
| Free Cash Flow | 1.32B | -122.00M | -851.19M | -796.46M | -484.67M | -158.06M |
| Operating Cash Flow | 1.57B | 908.19M | 688.20M | 367.86M | 505.64M | 727.22M |
| Investing Cash Flow | -897.14M | -758.36M | -1.29B | 768.04M | -1.13B | -885.27M |
| Financing Cash Flow | -874.21M | -442.59M | 1.12B | -66.13M | 643.63M | 149.69M |
ViaSat Technical Analysis
Positive
62.85
Price Trends
48.73
Positive
43.50
Positive
35.95
Positive
Market Momentum
3.65
Negative
71.25
Negative
94.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VSAT, the sentiment is Positive. The current price of 62.85 is above the 20-day moving average (MA) of 52.40, above the 50-day MA of 48.73, and above the 200-day MA of 35.95, indicating a bullish trend. The MACD of 3.65 indicates Negative momentum. The RSI at 71.25 is Negative, neither overbought nor oversold. The STOCH value of 94.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VSAT.
ViaSat Risk Analysis
ViaSat disclosed 34 risk factors in its most recent earnings report. ViaSat reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ViaSat Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $1.40B | 37.11 | 5.50% | ― | 47.87% | -21.87% | |
64 Neutral | $67.83B | 88.82 | 27.64% | ― | 48.89% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $8.85B | 44.93 | -7.45% | ― | 2.07% | 20.79% | |
54 Neutral | $27.51B | -54.37 | -30.27% | ― | 1505.21% | 32.41% | |
46 Neutral | $35.58B | -0.78 | -177.50% | ― | -5.18% | -9888.71% |
* Technology Sector Average
VSAT
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.