# Viasat, Inc. (VSAT)

> Source: Nexqual · https://nexqual.com/VSAT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Viasat, Inc. (VSAT), nexqual.com/VSAT" · informational, not investment advice.

**Price:** USD 59 (-5.74% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 62.59 · day 58–61.46 · 52w 29.13–93.03 · market cap $8.13B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.63B, net income -$29.4M (-0.6% margin) (SEC filings).
- 2 of 80 tracked superinvestors hold VSAT (13F, Q2 2026): 1 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Buy (mean 1.91 on a 1–5 scale) (11 analysts), mean target USD 103.94 (range 49–140).
- Total return with dividends: 1Y +58.0% vs S&P 500 +14.9%; 5Y +4.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -0.01, revenue estimate $1.20B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.42B | $2.56B | $4.28B | $4.52B | $4.64B | $4.63B |
| Operating income | -$113M | -$156M | -$890M | -$97.5M | $108M | $109M |
| Net income | -$15.5M | $1.08B | -$1.07B | -$575M | -$34.1M | -$29.4M |
| EPS (diluted) | -$0.21 | $14.29 | -$9.12 | -$4.48 | -$0.25 | — |
| Free cash flow | -$433M | -$709M | — | — | — | — |
| Operating margin | -4.7% | -6.1% | -20.8% | -2.2% | 2.3% | 2.4% |
| Net margin | -0.6% | 42.4% | -25.0% | -12.7% | -0.7% | -0.6% |
| Revenue growth | +25.8% | +5.7% | +67.6% | +5.5% | +2.7% | — |
| Cash + short-term investments | $310M | $1.35B | — | — | $1.75B | — |
| Total debt | $2.52B | $2.49B | $7.48B | $7.20B | $6.59B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.8x · EV/EBITDA 11.5x · EV/Sales 2.8x · P/B 1.8x · Earnings yield -0.36% · Net debt $4.83B · EV $13.0B

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold VSAT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Howard Marks | Oaktree Capital | 1.50% | $56.6M | New position |
| Mairs & Power | Mairs & Power Funds | 0.01% | $1.2M | Unchanged |

## Analysts
Consensus Buy (mean 1.91 on a 1–5 scale), 11 analysts; mean target USD 103.94 (low 49, high 140).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-05 | Needham | Target raised | Buy | $90 → $105 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +58.0% | +4.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +58.2% | +0.9% |
| Volatility (annualized) | 78.3% | 73.2% |
| Max drawdown | -34.5% (Jun 2026→Oct 2026) | -89.0% (Nov 2021→Nov 2024) |

## Peers (Communication Equipment)
VIAV (Viavi Solutions Inc.) USD 30.3 -14.38% · AAOI (Applied Optoelectronics, Inc.) USD 68.07 -11.96% · ASTS (AST SpaceMobile, Inc.) USD 38.77 -5.21% · BDC (Belden Inc) USD 103.46 -4.01% · ZBRA (Zebra Technologies Corporation) USD 384.16 -1.75% · ONDS (Ondas Inc) USD 6.02 -3.99%

## More
Full page: https://nexqual.com/VSAT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name VSAT in their own reports (relationship from VSAT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | Telesat Corp (TSAT) | 20-F 2026-03-17 | "Our enterprise customers include Bell Canada, Hughes Network Systems, iForte, Marlink, Northwestel, Telespazio, Viasat and Vodafone." |
| supplier | Gogo Inc. (GOGO) | 10-K 2026-02-27 | "Our combined product offerings allow us to integrate and offer network agnostic solutions, providing customers with GEO satellite services utilizing networks provided by operators, including, among ot…" |
| supplier | DUCOMMUN INC /DE/ (DCO) | 10-K 2026-02-26 | "Net revenues from our top ten customers, including The Boeing Company ("Boeing"), Lockheed Martin Corporation ("Lockheed"), Northrop Grumman Corporation ("Northrop"), RTX Corporation (f/k/a Raytheon T…" |
| supplier | Iridium Communications Inc. (IRDM) | 10-K 2026-02-12 | "ORBCOMM also provides commercial services using VHF spectrum from a fleet of LEO satellites and also sells its customers some L-band IoT services from Viasat." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Communication Services | $825.1M | 71.3% | -0.3% | $62.4M | 7.6% |
| Defense & Advanced Technologies | $331.5M | 28.7% | -3.6% | $49.9M | 15.1% |
| Total revenue | $1.16B | 100% | — | $112.3M | 9.7% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Service | $832.4M | 72.0% | +0.7% |
| — Product (part of Service) | $324.1M | 28.0% | -6.0% |
| — Government Satcom Services (part of Service) | $211.7M | 18.3% | +10.4% |
| — Maritime Services (part of Service) | $109.5M | 9.5% | -7.0% |
| — Information Security & Cyber Defense Products (part of Service) | $94.0M | 8.1% | -8.0% |
| — Tactical Networking Products (part of Service) | $92.6M | 8.0% | +35.6% |
| Aviation Services | $324.4M | 28.0% | +10.8% |
| Fixed Services & Other Services | $127.4M | 11.0% | -27.1% |
| Space & Mission Systems Products | $66.9M | 5.8% | -24.0% |
| Advanced Technologies & Other Products | $18.6M | 1.6% | -48.4% |
| Total revenue | $1.16B | 100% | — |
The lines above cover 118.4% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $788.4M | 68.2% | -3.3% |
| Non Us | $368.1M | 31.8% | +3.5% |
| Total revenue | $1.16B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.01 | $0.04 | -114.8% | $1.20B | 3 |
| Next quarter (ends 2026-12-31) | $0.02 | $0.07 | -77.8% | $1.23B | 3 |
| Current fiscal year (ends 2027-03-31) | $0.09 | $0.30 | -68.7% | $4.85B | 4 |
| Next fiscal year (ends 2028-03-31) | $0.17 | $0.40 | -58.7% | $5.07B | 3 |