VSATVIASAT INC
Communications Services, NEC
- Revenue
- $4.6B
- 2.7% YoY
- Operating margin
- 2.3%
- 208% YoY
- EBITDA
- $1.1B
- 22% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 3.5×
- $4.0B net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear11% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $2.4B | $2.6B | $4.3B | $4.5B | $4.6B | 2.7% |
| Operating income | −$113M | −$156M | −$890M | −$97M | $108M | 211% |
| Net income | −$16M | $1.1B | −$1.1B | −$575M | −$34M | 94% |
| Operating cash flow | $506M | $368M | $688M | $908M | $1.6B | 75% |
| Capex | $938M | $1.1B | — | — | — | |
| Stock-based comp | $87M | $84M | $84M | $80M | $81M | 0.9% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $2M · 8
- Net
- −$2M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | — | — | 95 | 112 |
| FY2025 | — | — | 22 | 103 |
| FY2024 | — | — | 38 | 83 |
| FY2023 | — | — | 70 | 82 |