Viasat, Inc.

How has the stock done?

Change in closing price from the first day shown, or with Price the closing price itself. Prices: Yahoo Finance, to Nov 12, 2026. Dashed lines: the days the company released earnings (its SEC 8-K filings); EPS estimates: Yahoo Finance. The stock's move after a release runs from the last close before its day to the close the day after (or five days after), so a release before the open counts like one after the close.

Is the business growing?

In the fiscal year to Mar 2026, Service was 71% and Product was 29% of revenue.

In the fiscal year to Mar 2026, United States was 68% and Outside the United States was 32% of revenue; United States fell from 71% in the fiscal year to Mar 2024.

Quarters: Viasat, Inc.'s SEC filings, named by the month they end. Fiscal years: Viasat, Inc.'s annual reports to the SEC.

How it makes money

The company loses $0.7 for every $100 of revenue. It was profitable 3 years ago and is now loss-making.

Each margin is that line of the income statement divided by revenue. Fiscal year: Viasat, Inc.'s annual reports to the SEC.

Customers and suppliers

In its latest annual report Viasat buys from ManSat, Telesat; sells to the U.S. government.

Suppliers

Telesat TSAT

M

ManSat

 

VSATViasat

Customers

U.S. government 16%

Viasat's 10-K for the year to Mar 2026 gives one customer's share of its revenue: US Government As An Individual Customer (16%). Separately, it gives a group of customers: Five Largest Customers (19%).

From Viasat, Inc.'s 10-Q and 10-K filings (XBRL): each customer whose share of revenue a filing tags, under the filing's own label, so “Customer A” in one filing can be another company in the next; a later filing's figures for a period replace an earlier one's. A dash is a group of customers the filing gives (a government's agencies, the largest customers together, all the others): it can include the customers beside it, so the shares need not add up.

Changes since the previous annual report (10-K filed May 27, 2025)

U.S. governmentCustomer, share of revenue18% → 16%

Only the companies Viasat names in its 10-K filed May 29, 2026 (SEC). The supply chain joins the latest annual reports of the companies on it and the 8-Ks they filed since: a link shows when either side's report names the other, so it grows as more reports are read. Hover a name for the filing's own words.

Is it expensive?

Currently unprofitable, so P/E does not apply, so we look at price-to-sales instead: 2.1x, below the peer median of 6.9x. Revenue is up 3% from a year ago.

Below the peer median of 6.9x. The market pays less per $1 of revenue than for peers.

Viasat, Inc. is currently unprofitable, so P/E does not apply. We use price-to-sales instead: market cap as a multiple of revenue.

What analysts expect

The average analyst price target is $103, 44% above the current price; 82% of 11 analysts rate it a buy; earnings beat estimates in 2 of the last 4 quarters.

Buy or Strong Buy: 9 analysts (82%). Sell or Strong Sell: 0.

Over the past year the average of the analysts' latest price targets went from $37.20 to $103.67 (+179%), while VSAT went from $35.78 to $71.24 (+99%). In the past three months targets were cut twice and never raised. 2 upgrades and no downgrades over the year; the latest: Barclays moved it to Equal-Weight from Underweight on Apr 8, 2026.

The day after each of these reports the stock moved +5.1% (Dec 2025, beat); −5.8% (Mar 2026, missed); −0.3% (Jun 2026, beat); −4.3% (Sep 2026, missed).

For the quarter ending Dec 2026 (Viasat reports on Feb 4, 2027), analysts expect an adjusted loss of $0.07 a share, and revenue of $1.2B, up 7% on a year earlier. For the fiscal year ending Mar 2027, they expect an adjusted loss of $0.28 a share, and revenue of $4.8B, up 4% on the year before.

Targets, ratings and earnings estimates: Yahoo Finance. Rating and target changes: Yahoo Finance's list of upgrades and downgrades. The average target on each day is the average of every listed firm's latest target set in the 180 days before it, so it counts fewer analysts than the average target above, and the band is the middle half of those targets (a quarter of the firms are above it, a quarter below); a target set before a stock split is divided by the split. Expected figures: the average of the analysts' estimates (Yahoo Finance). Their EPS is adjusted, as analysts estimate it, so it is set against the adjusted EPS Yahoo reports for the same quarters, not the GAAP EPS of the growth and valuation sections; revenue against the SEC filings. No change is given against a quarter whose reported EPS was more than 50% off its own estimate (often a one-off gain or charge), nor against a year that counts one. Each estimate is pinned to its fiscal period by the report date or the period's end, and one that cannot be is left out.

Where the cash goes

Generated $600M in free cash flow over the year, with no dividends and no buybacks. All of the cash stays in the company.

Viasat had 139M diluted shares in the quarter ended Sep 2026, 2.6% more than a year earlier, and 13.6% more each year on average since Jun 2020.

Free cash flow: operating cash flow minus capital spending. Last 4 quarters: Yahoo Finance, buybacks from SEC filings where they have the quarter. Shares: each quarter's diluted weighted average as filed with the SEC, since the stock's listing and its latest split.

Financial health

Current ratio 2.4, no pressure to repay short-term debt; debt-to-equity 1.4, debt is moderate.

Latest fiscal year balance sheet. Source: Yahoo Finance.

Who holds it

In the filings of 3 funds whose copy leaves VSAT out (on the exchange, not in the app yet): Bridgewater Associates, Norges Bank, Swiss National Bank.

What did the funds Hunch tracks do?

Of the 83 funds whose 13F filings Hunch reads, 5 held VSAT at the end of their latest quarter (for most, Q2 2026). Over that quarter 4 added shares, 1 bought new and 1 sold all. The largest of them is Norges Bank, 1.56M shares worth $140M at Jun 30, 2026, 1,362.4% more than at Dec 31, 2025.

From the 13F filings of the 83 funds Hunch tracks, not of every institution: each fund's shares of VSAT at its latest quarter end against the quarter before, as filed (long positions only, options left out), the quarter before put on the latest quarter's share count across a split. A fund files 45 days after its quarter ends, so some have a newer quarter than others. Value is at the quarter end. Norges Bank filed its 13F for Q1 2026 confidentially, with no holdings made public, so its row compares Q2 2026 with Q4 2025.