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ViaSat
(NASDAQ:VSAT)
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Rating:67Neutral
Price Target:
$90.00
▲(43.20% Upside)
Action:Downgraded
Date:07/02/26
VSAT scores positively mainly on improving financial momentum (stronger cash flow, better margins, and reduced leverage) and strong technical uptrend signals (price well above key moving averages with positive MACD). The score is held back by weak valuation optics (negative P/E driven by losses), plus earnings-call-flagged near-term execution risks from heavy FY27 CapEx, backloaded EBITDA, and pressure in fixed residential and maritime until new capacity fully ramps.
Positive Factors
Strong cash generation
Sustained, materially stronger operating and free cash flow provides durable internal funding for growth, CapEx and debt reduction. Reliable cash conversion reduces refinancing risk, supports investment in ViaSat-3 capacity and gives management flexibility on capital allocation over the next 2–6 months.
Negative Factors
High FY27 capital intensity
Elevated, sustained CapEx requirements constrain free cash flow and limit near-term financial flexibility despite stronger operating cash flow. Heavy investment cadence increases execution risk if revenue ramps are delayed, and raises the bar for sustaining deleveraging momentum.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Sustained, materially stronger operating and free cash flow provides durable internal funding for growth, CapEx and debt reduction. Reliable cash conversion reduces refinancing risk, supports investment in ViaSat-3 capacity and gives management flexibility on capital allocation over the next 2–6 months.
Read all positive factors
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 (VSAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$11.34B
Dividend YieldN/A
Average Volume (3M)2.80M
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue Growth2.67%
EPS Growth93.53%
CountryUS
Employees7,500
SectorTechnology
Sector Strength88
IndustryCommunication Equipment
Share Statistics
EPS (TTM)-0.31
Shares Outstanding136,568,950
10 Day Avg. Volume3,278,736
30 Day Avg. Volume2,804,544
Financial Highlights & Ratios
PEG Ratio1.94
Price to Book (P/B)1.32
Price to Sales (P/S)1.33
P/FCF Ratio10.34
Enterprise Value/Market Cap1.23
Enterprise Value/Revenue3.02
Enterprise Value/Gross Profit9.98
Enterprise Value/Ebitda7.72
Forecast
1Y Price Target
$95.29Price Target Upside51.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-1.21
Revenue Forecast (FY)$4.86B
ViaSat Business Overview & Revenue Model
Company Description
Viasat, Inc. is a global innovator in broadband and communications technology, delivering its products and services worldwide. The company's operations are divided into two main segments. Its Satellite Services division provides satellite-based in...
How the Company Makes Money
Viasat makes money primarily by selling connectivity and communications services and by selling related equipment and systems. A major revenue stream comes from recurring service revenue: subscription and usage-based fees for satellite broadband a...
ViaSat Earnings Call Summary
Earnings Call Date:May 28, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call conveyed a cautiously positive outlook: strong strategic milestones (ViaSat-3 deployments), record awards/backlog, robust cash generation and material deleveraging were emphasized as major accomplishments. These positives are balanced by meaningful near-term operational challenges—notably steep declines in fixed residential broadband, maritime installation lags, elevated CapEx, and modest pressure on adjusted EBITDA. Management expects mid-single-digit revenue growth and meaningful DAT mid-teens growth in FY27 while guiding to continued heavy investment and a backloaded EBITDA profile. Overall, achievements (cash, backlog, satellite milestones, DAT wins) materially outweigh the current headwinds, but the company faces execution and timing risks in legacy segments until new capacity enters service.Positive Updates
Record Awards and Backlog Growth
Q4 awards of ~$1.3B, up 9% year-over-year; record backlog of ~ $4.1B, up ~15% YoY (company also noted backlog up ~23% YoY for fiscal year wins).
Negative Updates
Decline in Fixed Residential Broadband
Fixed services and other revenue down 24% in Q4; U.S. fixed broadband subscribers declined to ~130,000 with ARPU ~$113; company expects continued declines until ViaSat-3 enters service.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Awards and Backlog Growth
Q4 awards of ~$1.3B, up 9% year-over-year; record backlog of ~ $4.1B, up ~15% YoY (company also noted backlog up ~23% YoY for fiscal year wins).
Read all positive updates
Company Guidance
Viasat guided FY‑27 revenue to grow mid‑single‑digits (Communication Services low‑single‑digits, DAT mid‑teens) with adjusted EBITDA flat to slightly up (backloaded), noting an approximate 2‑percentage‑point FY‑27 EBITDA headwind from the decline in a prior IP settlement and the removal of Navarino; reported CapEx $950M–$1.0B (cash CapEx ≈ $850M vs $760M in FY‑26) with capitalized interest falling to $125M–$150M (from >$200M), maintenance CapEx ≈ $400M, ViaSat‑3 spend ≈ $50M (down ~$150M), success‑based CapEx ≈ $150M (from $50M), growth CapEx $225M–$250M and Inmarsat CapEx ≈ $325M; management expects free cash flow of roughly $180M and has reduced net debt to about $4.8B with net leverage of 3.1x while targeting below 3.0x.ViaSat Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
58
Neutral
Cash Flow
72
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.64B | 4.52B | 4.28B | 2.56B | 2.42B |
| Gross Profit | 1.27B | 1.49B | 1.38B | 721.40M | 705.90M |
| EBITDA | 1.84B | 1.24B | 363.98M | 397.12M | 403.70M |
| Net Income | -34.09M | -574.96M | -1.07B | -577.09M | -15.53M |
Balance Sheet | |||||
| Total Assets | 15.23B | 15.45B | 16.33B | 7.73B | 6.39B |
| Cash, Cash Equivalents and Short-Term Investments | 1.75B | 1.61B | 1.90B | 1.35B | 310.46M |
| Total Debt | 6.94B | 7.52B | 7.64B | 2.78B | 2.85B |
| Total Liabilities | 10.50B | 10.80B | 11.26B | 3.87B | 3.71B |
| Stockholders Equity | 4.66B | 4.55B | 5.03B | 3.82B | 2.63B |
Cash Flow | |||||
| Free Cash Flow | 597.11M | -122.00M | -851.19M | -796.46M | -484.67M |
| Operating Cash Flow | 1.59B | 908.19M | 688.20M | 367.86M | 505.64M |
| Investing Cash Flow | -759.05M | -758.36M | -1.29B | 768.04M | -1.13B |
| Financing Cash Flow | -694.42M | -442.59M | 1.12B | -66.13M | 643.63M |
ViaSat Technical Analysis
Positive
62.85
Price Trends
69.49
Positive
59.58
Positive
48.01
Positive
Market Momentum
2.72
Negative
61.57
Neutral
80.62
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 below the 20-day moving average (MA) of 68.79, below the 50-day MA of 69.49, and above the 200-day MA of 48.01, indicating a bullish trend. The MACD of 2.72 indicates Negative momentum. The RSI at 61.57 is Neutral, neither overbought nor oversold. The STOCH value of 80.62 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 33 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $56.66B | 117.29 | 30.68% | ― | 68.98% | ― | |
67 Neutral | $11.34B | -267.94 | -0.74% | ― | 2.67% | 93.53% | |
67 Neutral | $974.29M | 24.76 | 7.33% | ― | 46.26% | 111.78% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | $33.04B | -47.29 | -32.33% | ― | 1732.08% | 11.19% |
* Technology Sector Average
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ViaSat
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ViaSat Corporate Events
Business Operations and StrategyExecutive/Board Changes
Viasat Adds Independent Directors, Strengthens Strategic Review Efforts
Positive
May 7, 2026
On May 6, 2026, ViaSat’s board appointed Arrcus CEO Shekar Ayyar as an independent Class II director and investor and director Jinhy Yoon as an independent Class I director, expanding the board to 10 members, eight of them independent, and a...
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.