Viavi Solutions
VIAV · NasdaqSemiconductors & Related Devices · Fiscal year ends Jun 27
Viavi Solutions reported revenue of $1.5B in the fiscal year ended Jun 2026, up 40.0% from the year before. Operating income was $105M, an operating margin of 6.9%, and net income was −$30M. Operating cash flow of $114M less capital expenditure of $31M left free cash flow of $83M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | $1.3B | $1.1B | $1B | $1.1B | $1.5B |
| Cost of revenue | $519M | $467M | $425M | $463M | $643M |
| Gross profit | $774M | $639M | $576M | $621M | $875M |
| Research & development | $213M | $207M | $202M | $209M | $263M |
| Selling, general & admin | $366M | $329M | $333M | $349M | $469M |
| Operating income | $185M | $82M | $21M | $58M | $105M |
| Interest expense | $23M | $27M | $31M | $30M | $47M |
| Pre-tax income | $65M | $61M | $12M | $39M | $16M |
| Income tax | $50M | $35M | $37M | $4M | $48M |
| Net income | $16M | $26M | −$26M | $35M | −$30M |
| Diluted EPS | 0.07 | 0.11 | −0.12 | 0.15 | −0.13 |
| Diluted shares | 238M | 227M | 223M | 226M | 230M |
Balance sheet
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $560M | $507M | $471M | $424M | $648M |
| Receivables | $261M | $231M | $213M | $261M | $351M |
| Inventory | $110M | $116M | $97M | $118M | $155M |
| Current assets | $1B | $945M | $877M | $885M | $1.3B |
| Net PP&E | $229M | $243M | $228M | $232M | $225M |
| Goodwill | $388M | $455M | $453M | $596M | $701M |
| Total assets | $1.8B | $1.9B | $1.7B | $2B | $2.7B |
| Payables | $58M | $47M | $50M | $69M | $92M |
| Deferred revenue | $81M | $79M | $66M | $74M | $102M |
| Current liabilities | $369M | $344M | $247M | $590M | $681M |
| Short-term debt | $68M | $96M | $0 | $246M | $245M |
| Long-term debt | $617M | $630M | $636M | $396M | – |
| Total liabilities | – | – | $1.1B | $1.2B | $1.3B |
| Shareholders' equity | $672M | $691M | $682M | $780M | $1.4B |
| Backlog (remaining obligations) | $299M | $256M | $238M | $345M | $610M |
Cash flow
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $178M | $114M | $116M | $90M | $114M |
| Capital expenditure | $73M | $51M | $20M | $28M | $31M |
| Free cash flow | $106M | $63M | $97M | $62M | $83M |
| Depreciation & amortisation | $36M | $36M | $39M | $38M | $40M |
| Stock-based compensation | $52M | $51M | $49M | $53M | $55M |
| Acquisitions | $8M | $67M | $0 | $121M | $399M |
| Share buybacks | $236M | $84M | $20M | $16M | $30M |
Key ratios
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −14.4% | −9.6% | 8.4% | 40.0% |
| Operating income growth (YoY) | – | −55.5% | −74.8% | 176.4% | 82.8% |
| EPS growth (YoY) | – | 57.1% | −209.1% | – | −186.7% |
| Gross margin | 59.8% | 57.8% | 57.6% | 57.3% | 57.7% |
| Operating margin | 14.3% | 7.4% | 2.1% | 5.3% | 6.9% |
| Net margin | 1.2% | 2.3% | −2.6% | 3.2% | −2.0% |
| Return on equityBlank when equity is negative | 2.3% | 3.7% | −3.8% | 4.5% | −2.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.7% | 5.5% | 1.4% | 4.1% | 5.2% |
| Free cash flow margin | 8.2% | 5.7% | 9.7% | 5.7% | 5.5% |
| Cash conversion (CFO ÷ net income) | 11.5x | 4.47x | −4.51x | 2.58x | −3.75x |
| Receivable days | 74 | 76 | 78 | 88 | 84 |
| Inventory days | 77 | 91 | 83 | 93 | 88 |
| Payable days | 41 | 37 | 43 | 54 | 52 |
| Interest cover | 7.94x | 3.04x | 0.67x | 1.92x | 2.22x |
| Debt ÷ equity | 1.02x | 1.05x | 0.93x | 0.82x | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $125M | $219M | $165M | $219M | – |
| Current ratio | 2.72x | 2.75x | 3.55x | 1.50x | 1.85x |
Recent filings
More in Semiconductors & Related Devices
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.