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Viavi Solutions

Nasdaq:VIAV
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VIAV
Nasdaq
$3B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Viavi Solutions Inc. provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The last earnings update was 40 days ago. More info.


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VIAV Share Price and Events
7 Day Returns
-2.4%
NasdaqGS:VIAV
3.5%
US Communications
2.4%
US Market
1 Year Returns
20.5%
NasdaqGS:VIAV
11.9%
US Communications
1.9%
US Market
VIAV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Viavi Solutions (VIAV) -2.4% -5.1% 21.7% 20.5% 77.6% -15%
US Communications 3.5% 5.6% 19% 11.9% 76.3% 88.1%
US Market 2.4% 1.7% 11.9% 1.9% 38.2% 42.4%
1 Year Return vs Industry and Market
  • VIAV outperformed the Communications industry which returned 11.9% over the past year.
  • VIAV outperformed the Market in United States of America which returned 1.9% over the past year.
Price Volatility
VIAV
Industry
5yr Volatility vs Market

VIAV Value

 Is Viavi Solutions undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Viavi Solutions to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Viavi Solutions.

NasdaqGS:VIAV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:VIAV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.084 (1 + (1- 21%) (21.47%))
1.179
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.179 * 5.96%)
9.76%

Discounted Cash Flow Calculation for NasdaqGS:VIAV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Viavi Solutions is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:VIAV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.76%)
2019 152.00 Analyst x2 138.48
2020 144.45 Analyst x2 119.90
2021 140.49 Est @ -2.74% 106.25
2022 138.95 Est @ -1.1% 95.74
2023 139.02 Est @ 0.05% 87.27
2024 140.21 Est @ 0.85% 80.19
2025 142.19 Est @ 1.42% 74.09
2026 144.77 Est @ 1.81% 68.73
2027 147.79 Est @ 2.09% 63.92
2028 151.16 Est @ 2.28% 59.57
Present value of next 10 years cash flows $894.14
NasdaqGS:VIAV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $151.16 × (1 + 2.73%) ÷ (9.76% – 2.73%)
$2,208.98
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,208.98 ÷ (1 + 9.76%)10
$870.49
NasdaqGS:VIAV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $894.14 + $870.49
$1,764.63
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,764.63 / 228.00
$7.74
NasdaqGS:VIAV Discount to Share Price
Calculation Result
Value per share (USD) From above. $7.74
Current discount Discount to share price of $12.15
= -1 x ($12.15 - $7.74) / $7.74
-57%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Viavi Solutions is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Viavi Solutions's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Viavi Solutions's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:VIAV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-29) in USD $-0.16
NasdaqGS:VIAV Share Price ** NasdaqGS (2019-03-18) in USD $12.15
United States of America Communications Industry PE Ratio Median Figure of 33 Publicly-Listed Communications Companies 30.4x
United States of America Market PE Ratio Median Figure of 3,055 Publicly-Listed Companies 17.61x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Viavi Solutions.

NasdaqGS:VIAV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:VIAV Share Price ÷ EPS (both in USD)

= 12.15 ÷ -0.16

-74.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Viavi Solutions is loss making, we can't compare its value to the US Communications industry average.
  • Viavi Solutions is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Viavi Solutions's expected growth come at a high price?
Raw Data
NasdaqGS:VIAV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -74.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
91.7%per year
United States of America Communications Industry PEG Ratio Median Figure of 21 Publicly-Listed Communications Companies 1.35x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Viavi Solutions, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Viavi Solutions's assets?
Raw Data
NasdaqGS:VIAV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-29) in USD $3.11
NasdaqGS:VIAV Share Price * NasdaqGS (2019-03-18) in USD $12.15
United States of America Communications Industry PB Ratio Median Figure of 67 Publicly-Listed Communications Companies 1.84x
United States of America Market PB Ratio Median Figure of 5,152 Publicly-Listed Companies 1.87x
NasdaqGS:VIAV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:VIAV Share Price ÷ Book Value per Share (both in USD)

= 12.15 ÷ 3.11

3.9x

* Primary Listing of Viavi Solutions.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Viavi Solutions is overvalued based on assets compared to the US Communications industry average.
X
Value checks
We assess Viavi Solutions's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check)
  5. Viavi Solutions has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VIAV Future Performance

 How is Viavi Solutions expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
91.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Viavi Solutions expected to grow at an attractive rate?
  • Viavi Solutions's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Viavi Solutions's earnings growth is expected to exceed the United States of America market average.
  • Viavi Solutions's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:VIAV Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:VIAV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 91.7%
NasdaqGS:VIAV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 4.7%
United States of America Communications Industry Earnings Growth Rate Market Cap Weighted Average 15.2%
United States of America Communications Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:VIAV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:VIAV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-06-30 1,209 72 2
2020-06-30 1,162 217 84 10
2019-06-30 1,109 187 12 11
NasdaqGS:VIAV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-29 1,060 100 -37
2018-09-29 958 83 -54
2018-06-30 880 66 -46
2018-03-31 814 85 -5
2017-12-30 790 93 29
2017-09-30 792 90 80
2017-07-01 811 94 165
2017-04-01 837 76 89
2016-12-31 862 91 92
2016-10-01 887 68 43
2016-07-02 906 64 -50
2016-04-02 902 83 -18
2016-01-02 894 24 -83

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Viavi Solutions's earnings are expected to grow significantly at over 20% yearly.
  • Viavi Solutions's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:VIAV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Viavi Solutions Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VIAV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-06-30 0.31 0.31 0.31 1.00
2020-06-30 0.36 0.50 0.22 2.00
2019-06-30 0.06 0.10 0.02 2.00
NasdaqGS:VIAV Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-29 -0.16
2018-09-29 -0.24
2018-06-30 -0.20
2018-03-31 -0.02
2017-12-30 0.13
2017-09-30 0.35
2017-07-01 0.72
2017-04-01 0.38
2016-12-31 0.39
2016-10-01 0.19
2016-07-02 -0.22
2016-04-02 -0.08
2016-01-02 -0.35

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Viavi Solutions is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Viavi Solutions's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Viavi Solutions has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VIAV Past Performance

  How has Viavi Solutions performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Viavi Solutions's growth in the last year to its industry (Communications).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Viavi Solutions does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Viavi Solutions's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Viavi Solutions's 1-year growth to the US Communications industry average as it is not currently profitable.
Earnings and Revenue History
Viavi Solutions's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Viavi Solutions Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VIAV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-29 1,059.50 -37.20 334.10 162.80
2018-09-29 958.00 -53.70 322.30 146.80
2018-06-30 880.40 -46.00 310.20 133.30
2018-03-31 813.80 -5.30 305.90 121.30
2017-12-30 790.40 29.40 295.70 123.30
2017-09-30 791.50 79.70 295.90 129.30
2017-07-01 811.40 165.30 299.00 136.30
2017-04-01 837.40 88.70 304.90 146.50
2016-12-31 861.80 91.50 309.30 152.40
2016-10-01 887.40 43.30 318.20 158.20
2016-07-02 906.30 -50.40 337.70 166.40
2016-04-02 902.00 -18.00 342.60 169.70
2016-01-02 894.00 -82.60 357.50 169.90
2015-10-03 888.30 -121.30 367.80 172.40
2015-06-27 873.90 -131.40 376.30 169.70
2015-03-28 1,102.70 -124.70 406.10 206.00
2014-12-27 1,308.30 -90.40 424.00 239.90
2014-09-27 1,529.50 -43.90 436.90 268.00
2014-06-28 926.90 -74.60 384.80 161.80
2014-03-29 1,715.90 99.10 439.60 283.60
2013-12-28 1,703.20 72.60 434.80 275.30
2013-09-28 1,685.00 67.10 429.90 266.50
2013-06-29 1,676.90 57.00 427.50 258.50
2013-03-30 1,689.60 -33.10 424.30 254.70
2012-12-29 1,687.60 -21.30 420.50 250.90
2012-09-29 1,667.50 -32.30 420.90 246.30
2012-06-30 1,662.40 -26.10 419.10 244.00
2012-03-31 1,700.20 -18.20 421.20 242.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Viavi Solutions has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Viavi Solutions has efficiently used its assets last year compared to the US Communications industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Viavi Solutions improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Viavi Solutions's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Communications industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Viavi Solutions has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VIAV Health

 How is Viavi Solutions's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Viavi Solutions's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Viavi Solutions is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Viavi Solutions's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Viavi Solutions's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Viavi Solutions Company Filings, last reported 2 months ago.

NasdaqGS:VIAV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-29 710.10 594.70 495.60
2018-09-29 709.60 732.50 652.40
2018-06-30 720.70 860.00 780.70
2018-03-31 758.60 813.70 730.50
2017-12-30 753.40 826.50 1,205.40
2017-09-30 766.30 829.80 1,223.60
2017-07-01 786.40 959.20 1,436.60
2017-04-01 771.20 985.90 1,442.80
2016-12-31 709.40 626.30 1,003.70
2016-10-01 754.80 619.30 1,033.10
2016-07-02 689.30 612.00 967.60
2016-04-02 834.40 610.50 992.90
2016-01-02 776.60 604.00 914.50
2015-10-03 744.20 597.60 891.90
2015-06-27 1,101.40 590.70 799.40
2015-03-28 1,119.10 584.50 788.90
2014-12-27 1,137.80 579.30 838.70
2014-09-27 1,167.50 573.50 848.80
2014-06-28 1,187.70 567.70 849.40
2014-03-29 1,261.30 563.30 894.80
2013-12-28 1,242.90 557.40 1,065.40
2013-09-28 1,220.30 552.50 1,057.10
2013-06-29 1,161.30 33.60 486.20
2013-03-30 1,055.10 195.30 608.10
2012-12-29 1,065.20 241.70 709.30
2012-09-29 1,042.40 285.50 698.80
2012-06-30 1,038.80 327.20 721.60
2012-03-31 1,071.20 338.70 717.20
  • Viavi Solutions's level of debt (83.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (44.8% vs 83.7% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Viavi Solutions has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Viavi Solutions has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by % per year.
X
Financial health checks
We assess Viavi Solutions's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Viavi Solutions has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VIAV Dividends

 What is Viavi Solutions's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Viavi Solutions dividends.
If you bought $2,000 of Viavi Solutions shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Viavi Solutions's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Viavi Solutions's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:VIAV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America Communications Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 2.4%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:VIAV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-06-30
2020-06-30
2019-06-30

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Viavi Solutions has not reported any payouts.
  • Unable to verify if Viavi Solutions's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Viavi Solutions's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Viavi Solutions has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Viavi Solutions's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Viavi Solutions afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Viavi Solutions has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VIAV Management

 What is the CEO of Viavi Solutions's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Oleg Khaykin
COMPENSATION $4,953,900
AGE 53
TENURE AS CEO 3.1 years
CEO Bio

Mr. Oleg Khaykin has been the Chief Executive Officer and President of Viavi Solutions Inc. since February 3, 2016. He joined Viavi in February 2016. Mr. Khaykin served as Senior Advisor of Silver Lake/Silver Lake Partners since 2015. He served as the Chief Executive Officer and President of International Rectifier Corporation from March 1, 2008 to February 2015. He served as Chief Executive Officer, President and Executive Director at Infineon Technologies Americas Corp. since March 1, 2008. During his tenure from 2008 to 2015, he successfully transformed the International Rectifier into the world leader in power semiconductors. He served as the Chief Operating Officer of Amkor Technology, Inc., from January 10, 2006 to February 2008. He was responsible for Sales & Marketing, Product Development & Management and Worldwide Flip Chip & Wafer Level Processing Operations of Amkor Technology Inc. He served as an Executive Vice President of Amkor Technology, Inc. since January 10, 2006 and Executive Vice President of Strategy, Flip Operations and Business Development/Corporate Development from joining on May 12, 2003 to January 10, 2006. From May 1999 to May 2003, Mr. Khaykin served as Vice President of Strategy and Business Development for Conexant Systems Inc. He was with the Boston Consulting Group from July 1991 to June 1999, where he worked with leading European and American companies in the telecom, high tech, biotechnology and aerospace industries. He spent five years as an engineer with Motorola. He has been Director of Avnet, Incorporated since 2018. He has been a Director of Marvell Technology Group Ltd. since May 1, 2016; Avnet Inc. since May 23, 2018; Viavi Solutions Inc. since February 2016 and served as Director of Newport Corp. since September 9, 2010 until April 2016. He serves as a Back-end Director of Fabless Semiconductor Association. He serves as a Director of Marvell Semiconductors. He serves as a Member of Advisory board of Quartics, Inc. He served as the Director of International Rectifier Corporation from March 1, 2008 to February 2015. He served as Director of Zarlink Semiconductor Inc., from November 12, 2007 to 2011. Mr. Khaykin holds an MBA from Northwestern University J.L. Kellogg Graduate School of Management and studied B.S. in Electrical and Computer Engineering with the Highest University Honors from Carnegie Mellon University.

CEO Compensation
  • Oleg's compensation has increased whilst company is loss making.
  • Oleg's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Viavi Solutions management team in years:

3.5
Average Tenure
53
Average Age
  • The tenure for the Viavi Solutions management team is about average.
Management Team

Oleg Khaykin

TITLE
President
COMPENSATION
$5M
AGE
53
TENURE
3.1 yrs

Amar Maletira

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
49
TENURE
3.5 yrs

Ralph Rondinone

TITLE
Senior Vice President of Global Operations & Services and Network & Service Enablement
COMPENSATION
$989K
AGE
56

Paul McNab

TITLE
Executive VP and Chief Marketing & Strategy Officer
COMPENSATION
$1M
AGE
55
TENURE
4.5 yrs

Gary Staley

TITLE
Senior Vice President of Global Sales
COMPENSATION
$1M
AGE
51

Bill Ong

TITLE
Senior Director of Finance & IR

Kevin Siebert

TITLE
Senior VP
AGE
49
TENURE
4 yrs

Petra Nagel

TITLE
Senior Vice President of Human Resources
TENURE
3.2 yrs

Luke Scrivanich

TITLE
Senior VP and GM of Optical Security & Performance Products
COMPENSATION
$1M
AGE
56
TENURE
6.6 yrs

Michael Seidl

TITLE
Senior Vice President of Business Management
TENURE
2.9 yrs
Board of Directors Tenure

Average tenure and age of the Viavi Solutions board of directors in years:

4.2
Average Tenure
62.5
Average Age
  • The tenure for the Viavi Solutions board of directors is about average.
Board of Directors

Rick Belluzzo

TITLE
Chairman
COMPENSATION
$354K
AGE
64
TENURE
6.3 yrs

Oleg Khaykin

TITLE
President
COMPENSATION
$5M
AGE
53
TENURE
3.1 yrs

Masood Jabbar

TITLE
Director
COMPENSATION
$284K
AGE
68
TENURE
13 yrs

Keith Barnes

TITLE
Director
COMPENSATION
$297K
AGE
67
TENURE
7.4 yrs

Donald Colvin

TITLE
Independent Director
COMPENSATION
$265K
AGE
65
TENURE
3.4 yrs

Tim Campos

TITLE
Director
COMPENSATION
$272K
AGE
45
TENURE
4.9 yrs

Tor Braham

TITLE
Director
COMPENSATION
$262K
AGE
61
TENURE
3.4 yrs

Laura Black

TITLE
Director
COMPENSATION
$194K
AGE
57
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • Viavi Solutions insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
22. Feb 19 Sell Luke Scrivanich Individual 22. Feb 19 22. Feb 19 -4,810 $13.29 $-63,944
X
Management checks
We assess Viavi Solutions's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Viavi Solutions has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VIAV News

Simply Wall St News

Should You Be Worried About Insider Transactions At Viavi Solutions Inc. (NASDAQ:VIAV)?

So shareholders might well want to know whether insiders have been buying or selling shares in Viavi Solutions Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was selling shares at around the current price of US$12.90.

Simply Wall St -

How Should Investors React To Viavi Solutions Inc.'s (NASDAQ:VIAV) CEO Pay?

Oleg Khaykin has been the CEO of Viavi Solutions Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Oleg Khaykin's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Investors Should Know About Viavi Solutions Inc's (NASDAQ:VIAV) Financial Strength

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Viavi Solutions Inc (NASDAQ:VIAV), with a market cap of US$2.4b, are often out of the spotlight. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further. … Check out our latest analysis for Viavi Solutions

Simply Wall St -

Is Viavi Solutions Inc (NASDAQ:VIAV) Overpaying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Oleg Khaykin's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Viavi Solutions Inc has a market cap of US$2.7b, and is paying total annual CEO compensation of US$2m.

Simply Wall St -

Is Viavi Solutions Inc's (NASDAQ:VIAV) Balance Sheet Strong Enough To Weather A Storm?

Small-caps and large-caps are wildly popular among investors; however, mid-cap stocks, such as Viavi Solutions Inc (NASDAQ:VIAV) with a market-capitalization of US$2.50b, rarely draw their attention. … VIAV’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … Check out our latest analysis for Viavi Solutions

Simply Wall St -

Have Investors Priced In Viavi Solutions Inc's (NASDAQ:VIAV) Growth?

Viavi Solutions Inc (NASDAQ:VIAV), a communications company based in United States,. … A question to answer is whether Viavi Solutions's current trading price of $9.84 reflective of the actual value of the? … Let’s take a look at Viavi Solutions’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Did Viavi Solutions Inc's (NASDAQ:VIAV) Recent Earnings Growth Beat The Trend?

Analyzing Viavi Solutions Inc's (NASDAQ:VIAV) track record of past performance is a valuable exercise for investors. … See our latest analysis for Viavi Solutions Commentary On VIAV's Past Performance For the purpose of this commentary, I like to use the ‘latest twelve-month’ data, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … This means on average, Viavi Solutions has been able to steadily grow its profits over the past couple of years as well.

Simply Wall St -

Should You Expect Viavi Solutions Inc (NASDAQ:VIAV) To Continue Delivering An ROE Of 10.85%?

View our latest analysis for Viavi Solutions Breaking down ROE — the mother of all ratios Return on Equity (ROE) weighs Viavi Solutions’s profit against the level of its shareholders’ equity. … Since Viavi Solutions’s return does not cover its cost, with a difference of -1.07%, this means its current use of equity is not efficient and not sustainable. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:VIAV Last Perf Jan 13th 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

VIAV Company Info

Description

Viavi Solutions Inc. provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through Network Enablement, Service Enablement, and Optical Security and Performance Products segments. The Network Enablement segment offers testing solutions that access the network to perform build-out and maintenance tasks. This segment provides solutions that include instruments, software, and services to design, build, activate, certify, troubleshoot, and optimize networks. It also offers support and professional services, such as repair, calibration, software support, and technical assistance for the products; and system integration projects, including project management, installation, and implementation, as well as product and technology training, and consulting services. The Service Enablement segment provides embedded systems and enterprise performance management solutions for communication service providers, enterprises, and cloud operators with visibility into network, service, and application data. Its solutions include instruments, microprobes, and software, which monitor, collect, and analyze network data to reveal the actual customer experience and to identify opportunities for new revenue streams and network optimization. The Optical Security and Performance Products segment offers optical products for anti-counterfeiting, government, industrial, automotive, and consumer electronic markets, including 3D sensing applications. The company was formerly known as JDS Uniphase Corporation and changed its name to Viavi Solutions Inc. in August 2015. Viavi Solutions Inc. was founded in 1979 and is headquartered in San Jose, California.

Details
Name: Viavi Solutions Inc.
VIAV
Exchange: NasdaqGS
Founded: 1979
$2,770,156,478
227,996,418
Website: http://www.viavisolutions.com
Address: Viavi Solutions Inc.
6001 America Center Drive,
San Jose,
California, 95002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS VIAV Common Stock Nasdaq Global Select US USD 17. Nov 1993
DB UNS1 Common Stock Deutsche Boerse AG DE EUR 17. Nov 1993
Number of employees
Current staff
Staff numbers
3,500
Viavi Solutions employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/18 23:37
End of day share price update: 2019/03/18 00:00
Last estimates confirmation: 2019/03/14
Last earnings filing: 2019/02/06
Last earnings reported: 2018/12/29
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.