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Telecom services · Communication Services · Fiscal year ends Mar 31
Viasat reported revenue of $4.6B in the fiscal year ended Mar 2026, up 2.7% from the year before. Operating income was $108M, an operating margin of 2.3%, and net income was −$34M. Net debt was $4.7B.
Ranks among the 31 telecom services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 2,417 | 2,556 | 4,284 | 4,520 | 4,640 |
| Research & development | 149 | 129 | 151 | 142 | 165 |
| Selling, general & admin | 641 | 719 | 1,894 | 1,181 | 999 |
| Operating income | −113 | −156 | −890 | −97.5 | 108 |
| Interest expense | 29.4 | 26.8 | 400 | 422 | 360 |
| Pre-tax income | −138 | −162 | −1,194 | −545 | 105 |
| Income tax | −36.5 | 49.4 | −139 | −0.9 | 116 |
| Net income | −15.5 | 1,085 | −1,069 | −575 | −34.1 |
| Diluted EPS | −0.21 | 14.29 | −9.12 | −4.48 | −0.25 |
| Diluted shares | 73.4 | 75.9 | 117 | 128 | 135 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 310 | 1,349 | 1,901 | 1,612 | 1,747 |
| Receivables | 312 | 420 | 678 | 700 | 753 |
| Inventory | 198 | 269 | 318 | 294 | 281 |
| Current assets | 1,159 | 2,245 | 3,479 | 2,888 | 3,124 |
| Net PP&E | 3,705 | 4,378 | 7,557 | 7,406 | 7,273 |
| Goodwill | 169 | 159 | 1,622 | 1,622 | 1,625 |
| Total assets | 6,389 | 7,730 | 16,329 | 15,449 | 15,227 |
| Payables | 201 | 272 | 287 | 264 | 288 |
| Deferred revenue | 132 | 132 | 260 | 294 | 293 |
| Current liabilities | 770 | 957 | 1,296 | 1,677 | 1,297 |
| Short-term debt | 34.9 | 37.9 | 58.1 | 504 | 57.8 |
| Long-term debt | 2,486 | 2,422 | 7,129 | 6,532 | 6,391 |
| Total liabilities | 3,707 | 3,870 | 11,257 | 10,804 | 10,497 |
| Shareholders' equity | 2,634 | 3,824 | 5,025 | 4,554 | 4,660 |
| Backlog (remaining obligations) | 2,000 | 1,700 | 3,700 | 3,600 | 4,100 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 506 | 368 | 688 | 908 | 1,590 |
| Capital expenditure | 938 | 1,077 | – | – | – |
| Free cash flow | −433 | −709 | – | – | – |
| Depreciation & amortisation | 407 | 410 | 868 | 1,036 | 1,039 |
| Stock-based compensation | 86.8 | 84.5 | 83.6 | 80.4 | 81.1 |
| Acquisitions | 140 | – | 343 | – | – |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 5.7% | 67.6% | 5.5% | 2.7% |
| EPS growth (YoY) | – | – | −163.8% | – | – |
| Operating margin | −4.7% | −6.1% | −20.8% | −2.2% | 2.3% |
| Net margin | −0.6% | 42.4% | −25.0% | −12.7% | −0.7% |
| Return on equityBlank when equity is negative | −0.6% | 28.4% | −21.3% | −12.6% | −0.7% |
| ROCEEBIT ÷ (assets − current liabilities) | −2.0% | −2.3% | −5.9% | −0.7% | 0.8% |
| Free cash flow margin | −17.9% | −27.7% | – | – | – |
| Cash conversion (CFO ÷ net income) | −32.6x | 0.34x | −0.64x | −1.58x | −46.6x |
| Receivable days | 47 | 60 | 58 | 56 | 59 |
| Interest cover | −3.85x | −5.82x | −2.22x | −0.23x | 0.30x |
| Debt ÷ equity | 0.96x | 0.64x | 1.43x | 1.55x | 1.38x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,211 | 1,111 | 5,286 | 5,424 | 4,702 |
| Current ratio | 1.50x | 2.35x | 2.68x | 1.72x | 2.41x |
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.