Viasat Past Earnings Performance
Past criteria checks 0/6
Viasat's earnings have been declining at an average annual rate of -37.4%, while the Communications industry saw earnings growing at 2% annually. Revenues have been growing at an average rate of 19.1% per year.
Key information
-37.42%
Earnings growth rate
-29.34%
EPS growth rate
| Communications Industry Growth | 31.77% |
| Revenue growth rate | 19.05% |
| Return on equity | -6.54% |
| Net Margin | -7.34% |
| Last Earnings Update | 31 Dec 2025 |
Recent past performance updates
Recent updates
VSAT: Spectrum Hopes Around Amazon Agreement Will Likely Disappoint
Analysts have lifted their fair value estimate for Viasat from about $26.66 to $48.00, citing recent price target increases, the upcoming F3 launch, spectrum value discussions related to the Amazon agreement, and several upgrades that reference a higher forward P/E assumption. Analyst Commentary Recent Street research has focused on the mix of upside potential around the upcoming F3 launch, spectrum value linked to the Amazon agreement, and higher assumed forward P/E multiples, alongside execution and valuation risks that could cap returns if things do not go as planned.
VSAT: Sum Of The Parts Optimism Will Pressure Execution And Capital Discipline
Analysts have raised their price target on Viasat from about $41 to roughly $51, citing updated assumptions for fair value, a slightly lower discount rate, revised revenue growth expectations, and a higher profit margin outlook supported by recent research upgrades from several major firms. Analyst Commentary Recent research updates point to a more constructive view on Viasat's fair value, with several firms adjusting ratings and targets alongside refreshed assumptions on growth and profitability.Viasat: Riding The Space Hype, But The Fundamentals Suggest Caution
Apr 08
VSAT: Defense Spinout Evaluation Will Surface Future Upside Potential
Analysts have lifted the fair value estimate for Viasat from $52.00 to $58.00 as they factor in updated sum of the parts valuation work, higher projected profit margins, and potential portfolio moves similar to recent defense spinout activity in the sector. Analyst Commentary Recent Street research points to a more constructive view on Viasat as bullish analysts refresh their models around sum of the parts valuation work, higher projected margins, and the potential for portfolio moves that echo broader defense sector activity.VSAT: Spinout Optimism Around Defense Unit Will Still Likely Disappoint
Analysts have lifted their $ price target on Viasat, citing updated sum-of-the-parts valuation work, a refreshed view on the potential value of its defense and advanced technologies unit, and slightly adjusted assumptions around discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Even with higher price targets and renewed attention on the defense and advanced technologies unit, research commentary on Viasat still highlights a mix of optimism and caution.VSAT: Spinout Hopes Around Defense Unit Will Likely Disappoint
The latest Street research implies a higher consolidated analyst price target for Viasat, with firms pointing to updated sum of the parts valuation work, a revised $39 target from Morgan Stanley, and potential value from any future spinout of the defense and advanced technologies division, which analysts see as echoing recent plans at L3Harris. Analyst Commentary Recent research on Viasat has centered on how to value the different pieces of the business, with several firms talking about sum of the parts work, potential spinout scenarios, and what that could mean for the equity story.VSAT: Elevated Multiple Relies On Uncertain Defense Spinout Execution
Narrative Update on Viasat The updated analyst price target for Viasat has risen from about $10.00 to roughly $26.66, with analysts pointing to sum of the parts valuation work, higher assumed revenue growth, modestly stronger profit margins and a higher future P/E multiple, as well as potential value from possible spinout scenarios. Analyst Commentary Recent research has highlighted both upside scenarios and areas where expectations may prove difficult for Viasat to meet.VSAT: Potential Defense Spinout And New Ka Band Capacity Will Drive Upside
Analysts recently lifted their Viasat price target by $39, citing refreshed views on long term growth, profitability and P/E assumptions, and pointing to potential portfolio moves similar to L3Harris's planned spinout as a key part of the story. Analyst Commentary Bullish analysts have been pointing to refreshed views on Viasat's long term growth profile, profitability path and P/E assumptions as they reassess the stock.VSAT: Potential Defense Spinout And Execution Risks Will Pressure Future Returns
Analysts lifted their Viasat fair value estimate from $36.25 to $41.13, citing recent price target increases and growing interest in potential spinout options identified in the latest Street research. Analyst Commentary Bullish Takeaways Bullish analysts point to the higher price target as support for a higher fair value range, suggesting that recent research is incorporating potential upside from corporate actions and portfolio changes.Viasat, Inc. (NASDAQ:VSAT) Held Back By Insufficient Growth Even After Shares Climb 28%
Jan 16
VSAT: Future Multi Orbit Government Contracts Will Support Bullish Upside Potential
Analysts have nudged their fair value estimate for Viasat up from US$50.00 to US$52.00, citing updated assumptions for revenue growth, profit margins, and a lower discount rate, which also leads them to apply a modestly lower future P/E multiple. What's in the News Viasat announced an expanded global Ka-band satellite communications network for government and military users, integrating its own Ka-band satellites, the Global Xpress fleet and partner satellites to offer interoperable, multi orbit connectivity and roaming with MILSATCOM Ka-band systems (Product related announcement).VSAT: Future Breakup Optionality And Competitive Pressures Will Shape Share Performance
Analysts have raised their price target on Viasat to $23 from $10, citing a higher potential breakup valuation around $36 per share but warning that intensifying competition and limited satellite growth prospects temper the upside. Analyst Commentary Bullish analysts highlight that the higher price target reflects improved breakup value potential, suggesting that the sum of Viasat's parts could be worth meaningfully more than the current share price in an optimal strategic scenario.VSAT: Future Breakup Uncertainty And Competition Will Define Market Direction
Analysts have raised their price target for Viasat from $10 to $23 per share, citing improved valuation metrics. However, they caution that further upside depends on the uncertain prospect of a company breakup and ongoing competitive pressures in the satellite business.VSAT: Future International Spectrum Deals And Competitive Pressures Will Shape Outlook
Analysts have raised their price target for Viasat from $26.14 to $36.25 per share, reflecting improved expectations for the company’s spectrum value, profit outlook, and international growth potential. Analyst Commentary Analyst opinions on Viasat remain mixed, with some seeing notable upside potential while others urge caution regarding future growth and valuation.US$36.25 - That's What Analysts Think Viasat, Inc. (NASDAQ:VSAT) Is Worth After These Results
Nov 14VSAT: Increased Competition Will Likely Limit Benefits From Spectrum Holdings
Analysts have raised their price target for ViaSat to $25 from $16, citing stronger-than-expected quarterly results and the company's valuable spectrum holdings as key factors supporting the higher valuation. Analyst Commentary Recent Street research offers a range of views on ViaSat's outlook, reflecting both optimism and caution among analysts regarding the company's valuation, future growth, and strategic positioning.There's No Escaping Viasat, Inc.'s (NASDAQ:VSAT) Muted Revenues Despite A 33% Share Price Rise
Oct 31Global Demand For Secure Connectivity Will Empower Hybrid Networks
Analysts have modestly increased their price target for Viasat to $26.14, citing the company's valuable spectrum holdings and mixed prospects across core business segments as supporting factors for the revision. Analyst Commentary Analyst opinions on Viasat remain divided, reflecting a mixture of optimism around the company's asset portfolio and caution due to competitive and business-specific risks.Global Demand For Secure Connectivity Will Empower Hybrid Networks
Analysts have raised their price target for Viasat from approximately $24.29 to $26.14 per share. This reflects renewed optimism surrounding the company's valuable spectrum holdings, supported by recent market comparisons and performance updates.Global Demand For Secure Connectivity Will Empower Hybrid Networks
Viasat's higher consensus price target reflects an increase in forward P/E, indicating improved earnings expectations despite a higher discount rate, resulting in fair value rising from $18.29 to $19.71. What's in the News Viasat will evaluate a potential IPO or spinoff of its defense technology business following pressure from activist investor Carronade Capital Management.Viasat, Inc.'s (NASDAQ:VSAT) Price Is Right But Growth Is Lacking After Shares Rocket 33%
Jun 20Viasat After Inmarsat - Moving Beyond Breakeven
Apr 25
Aviation, Maritime And Defense Sectors Will Benefit From Satellite Integrations
Strategic partnerships and satellite integration are set to boost revenue via expanded service offerings and improved customer satisfaction.Viasat: Competition And Debt Creating Asymmetric Payoff
Feb 11What To Do After Viasat Stock Soared
Jan 27Viasat: Best To Stay On The Sidelines
Oct 22Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Viasat makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 4,616 | -339 | 1,033 | 157 |
| 30 Sep 25 | 4,583 | -522 | 993 | 147 |
| 30 Jun 25 | 4,564 | -598 | 1,023 | 138 |
| 31 Mar 25 | 4,520 | -575 | 1,012 | 142 |
| 31 Dec 24 | 4,523 | -419 | 957 | 155 |
| 30 Sep 24 | 4,527 | -385 | 1,047 | 160 |
| 30 Jun 24 | 4,630 | -1,014 | 1,039 | 160 |
| 31 Mar 24 | 4,284 | -1,058 | 980 | 151 |
| 31 Dec 23 | 3,800 | -1,030 | 926 | 136 |
| 30 Sep 23 | 3,323 | -952 | 808 | 124 |
| 30 Jun 23 | 2,761 | -255 | 699 | 123 |
| 31 Mar 23 | 2,556 | -218 | 659 | 129 |
| 31 Dec 22 | 2,497 | -209 | 651 | 137 |
| 30 Sep 22 | 2,471 | -196 | 664 | 143 |
| 30 Jun 22 | 2,421 | -147 | 662 | 151 |
| 31 Mar 22 | 2,417 | -115 | 607 | 149 |
| 31 Dec 21 | 2,406 | -54 | 595 | 141 |
| 30 Sep 21 | 2,357 | -14 | 562 | 134 |
| 30 Jun 21 | 2,296 | 9 | 535 | 122 |
| 31 Mar 21 | 1,921 | -80 | 497 | 109 |
| 31 Dec 20 | 2,252 | -2 | 513 | 114 |
| 30 Sep 20 | 2,265 | -2 | 517 | 118 |
| 30 Jun 20 | 2,303 | -1 | 519 | 125 |
| 31 Mar 20 | 2,309 | 0 | 523 | 130 |
| 31 Dec 19 | 2,275 | 1 | 510 | 129 |
| 30 Sep 19 | 2,241 | -16 | 493 | 126 |
| 30 Jun 19 | 2,166 | -45 | 478 | 123 |
| 31 Mar 19 | 2,068 | -68 | 458 | 123 |
| 31 Dec 18 | 1,951 | -90 | 450 | 131 |
| 30 Sep 18 | 1,778 | -104 | 432 | 142 |
| 30 Jun 18 | 1,653 | -92 | 409 | 157 |
| 31 Mar 18 | 1,595 | -67 | 385 | 168 |
| 31 Dec 17 | 1,571 | -41 | 376 | 171 |
| 30 Sep 17 | 1,570 | -12 | 356 | 166 |
| 30 Jun 17 | 1,576 | 13 | 343 | 150 |
| 31 Mar 17 | 1,559 | 24 | 333 | 130 |
| 31 Dec 16 | 1,515 | 22 | 314 | 111 |
| 30 Sep 16 | 1,482 | 27 | 311 | 96 |
| 30 Jun 16 | 1,436 | 21 | 307 | 87 |
| 31 Mar 16 | 1,417 | 22 | 298 | 77 |
| 31 Dec 15 | 1,410 | 25 | 297 | 69 |
| 30 Sep 15 | 1,402 | 30 | 292 | 62 |
| 30 Jun 15 | 1,407 | 49 | 292 | 52 |
Quality Earnings: VSAT is currently unprofitable.
Growing Profit Margin: VSAT is currently unprofitable.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: VSAT is unprofitable, and losses have increased over the past 5 years at a rate of 37.4% per year.
Accelerating Growth: Unable to compare VSAT's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: VSAT is unprofitable, making it difficult to compare its past year earnings growth to the Communications industry (23.1%).
Return on Equity
High ROE: VSAT has a negative Return on Equity (-6.54%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/03 20:34 |
| End of Day Share Price | 2026/05/01 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Viasat, Inc. is covered by 21 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Mathieu Robilliard | Barclays |
| Benjamin Heelan | BofA Global Research |
| Benjamin Heelan | BofA Global Research |