NasdaqGS:VSAT

Stock Analysis Report

Executive Summary

Viasat, Inc. provides broadband and communications products and services worldwide.


Snowflake Analysis

Reasonable growth potential with mediocre balance sheet.


Similar Companies

Share Price & News

How has Viasat's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: VSAT's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

8.1%

VSAT

5.5%

US Communications

7.2%

US Market


1 Year Return

-51.3%

VSAT

-27.1%

US Communications

-10.4%

US Market

Return vs Industry: VSAT underperformed the US Communications industry which returned -28.7% over the past year.

Return vs Market: VSAT underperformed the US Market which returned -12.7% over the past year.


Shareholder returns

VSATIndustryMarket
7 Day8.1%5.5%7.2%
30 Day-33.0%-1.6%-12.6%
90 Day-47.4%-16.4%-19.4%
1 Year-51.3%-51.3%-25.6%-27.1%-8.5%-10.4%
3 Year-39.0%-39.0%12.8%6.3%15.8%8.3%
5 Year-36.3%-36.3%43.6%28.1%35.8%21.0%

Price Volatility Vs. Market

How volatile is Viasat's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Viasat undervalued compared to its fair value and its price relative to the market?

3288.36x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate VSAT's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate VSAT's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: VSAT is poor value based on its PE Ratio (3301.2x) compared to the Communications industry average (21.6x).

PE vs Market: VSAT is poor value based on its PE Ratio (3301.2x) compared to the US market (13x).


Price to Earnings Growth Ratio

PEG Ratio: VSAT is poor value based on its PEG Ratio (37.1x)


Price to Book Ratio

PB vs Industry: VSAT is good value based on its PB Ratio (1.2x) compared to the US Communications industry average (1.3x).


Next Steps

Future Growth

How is Viasat forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

-1.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: VSAT's forecast earnings growth (89% per year) is above the savings rate (1.7%).

Earnings vs Market: VSAT's earnings (89% per year) are forecast to grow faster than the US market (12.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: VSAT's revenue (10.1% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: VSAT's revenue (10.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: VSAT's Return on Equity is forecast to be low in 3 years time (3.9%).


Next Steps

Past Performance

How has Viasat performed over the past 5 years?

-58.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: VSAT has a large one-off gain of $3.5M impacting its December 31 2019 financial results.

Growing Profit Margin: VSAT became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: VSAT has become profitable over the past 5 years, growing earnings by -58% per year.

Accelerating Growth: VSAT has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: VSAT has become profitable in the last year, making it difficult to compare its past year earnings growth to the Communications industry (-13.2%).


Return on Equity

High ROE: VSAT's Return on Equity (0.7%) is considered low.


Next Steps

Financial Health

How is Viasat's financial position?


Financial Position Analysis

Short Term Liabilities: VSAT's short term assets ($750.2M) exceed its short term liabilities ($538.4M).

Long Term Liabilities: VSAT's short term assets ($750.2M) do not cover its long term liabilities ($1.9B).


Debt to Equity History and Analysis

Debt Level: VSAT's debt to equity ratio (74.3%) is considered high.

Reducing Debt: VSAT's debt to equity ratio has reduced from 80% to 74.3% over the past 5 years.


Balance Sheet

Inventory Level: VSAT has a high level of physical assets or inventory.

Debt Coverage by Assets: VSAT's debt is not covered by short term assets (assets are 0.5x debt).


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.

Stable Cash Runway: VSAT is profitable, therefore cash runway is not a concern.

Forecast Cash Runway: VSAT is profitable, therefore cash runway is not a concern.


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate VSAT's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate VSAT's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if VSAT's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if VSAT's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of VSAT's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average management tenure


CEO

Mark Dankberg (64yo)

33.83s

Tenure

US$10,688,877

Compensation

Mr. Mark D. Dankberg co-founded ViaSat, Inc. in May 1986 and has been its Chief Executive Officer since its inception in May 1986. Mr. Dankberg also has significant expertise as a member of the boards of d ...


CEO Compensation Analysis

Compensation vs Market: Mark's total compensation ($USD10.69M) is above average for companies of similar size in the US market ($USD5.55M).

Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Mark Dankberg
Co- Founder33.83yrsUS$10.69m2.49% $59.5m
Richard Baldridge
President3.42yrsUS$6.70m0.24% $5.7m
Shawn Duffy
Senior VP & CFO5.67yrsUS$3.14m0.057% $1.4m
Kevin Harkenrider
Senior VP & President of Broadband Systems1.83yrsUS$3.14m0.021% $491.9k
Ken Peterman
Senior VP & President of Government Systems5.67yrsUS$3.41m0.051% $1.2m
Mark Miller
Co-Founderno dataUS$2.00m0.50% $12.0m
Krishna Nathan
Chief Information Officerno datano datano data
Bruce Dirks
Senior Vice President of Treasury & Corporate Developmentno dataUS$1.06m0.050% $1.2m
Robert Blair
VP, General Counsel & Secretary2.83yrsno data0.031% $753.4k
Christina Phillips
Director of Corporate Communications & Public Relationsno datano datano data

5.7yrs

Average Tenure

59yo

Average Age

Experienced Management: VSAT's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Mark Dankberg
Co- Founder33.83yrsUS$10.69m2.49% $59.5m
Richard Baldridge
President3.42yrsUS$6.70m0.24% $5.7m
Varsha Rao
Independent Director2.67yrsUS$261.32k0.0056% $132.8k
Harvey White
Independent Director14.83yrsUS$295.32k0.088% $2.1m
Robert Johnson
Independent Director34.17yrsUS$277.32k1.11% $26.5m
Theresa Wise
Independent Directorno datano datano data
John Stenbit
Independent Director15.58yrsUS$277.82k0.031% $747.2k
Sean Pak
Lead Independent Director1yrUS$250.32k0.0058% $138.5k

14.8yrs

Average Tenure

62yo

Average Age

Experienced Board: VSAT's board of directors are seasoned and experienced ( 14.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: VSAT insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.8%.


Top Shareholders

Company Information

Viasat, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Viasat, Inc.
  • Ticker: VSAT
  • Exchange: NasdaqGS
  • Founded: 1986
  • Industry: Communications Equipment
  • Sector: Tech
  • Market Cap: US$2.393b
  • Shares outstanding: 62.13m
  • Website: https://www.viasat.com

Number of Employees


Location

  • Viasat, Inc.
  • 6155 El Camino Real
  • Carlsbad
  • California
  • 92009
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VSATNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDDec 1996
VS1DB (Deutsche Boerse AG)YesCommon StockDEEURDec 1996
0LPELSE (London Stock Exchange)YesCommon StockGBUSDDec 1996

Biography

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 Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems. As of March 31, 2019, this segment provided broadband Internet services to approximately 586,000 subscribers. Its Commercial Networks segment offers fixed satellite networks comprising satellite network infrastructure and ground terminals; mobile broadband satellite communication systems; and 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. This segment also provides design and technology services, including analysis, design, development, and specification of satellites and ground systems; ASIC and monolithic microwave integrated circuit design; and network function virtualization. The company’s 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 secure real-time digital information between command centers, communications nodes, ground and maritime platforms, and air platforms. Viasat Inc. has a collaboration agreement with Facebook Inc. to enhance the deployment of high-speed Internet to communities. The company was founded in 1986 and is headquartered in Carlsbad, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 00:48
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.