Viasat, Inc. (VSAT) Stock

Viasat, Inc. (VSAT) is a Communication Services stock trading at $74.05 (as of 2026-08-20), with a market capitalization of $10.11B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Viasat provides broadband and communications products and services worldwide through its Satellite Services and Commercial Networks segments. Satellite Services includes fixed broadband for consumers and businesses, aviation connectivity and in-flight entertainment services for airlines, community and mobile broadband, and energy-focused connectivity and analytics offerings; Commercial Networks provides satellite communications systems, antenna solutions, and related design and technology services.

Understand Viasat, Inc.: how it makes money

Viasat provides satellite-based broadband and communications services worldwide, selling fixed broadband internet and voice (VoIP) to consumers and businesses, in-flight connectivity and aviation software to commercial airlines, and mobile broadband for maritime and other customers, while it also sells defense and advanced technologies, including GATT-related defense and advanced technologies and related information security and cyber offerings.

The company’s profit engine is a blend of recurring satellite connectivity revenue across multiple commercial customer groups, and project or contract-driven revenue from defense and advanced technologies that depends on awards and execution timing.

Revenue by segment (latest quarter)
Comm Services	$0.8B
Defense & Adv Tech	$0.3B

Business quality (Weak): Clear split between commercial communications and defense and advanced technologies, with operating KPIs that track customer scale (subscribers, aircraft in service) and contract or deployment momentum (new contract awards, in-service counts).

Bull case

Commercial scale indicators are trackable: The company reports operational counts such as Fixed Broadband Subscribers and Commercial In-Flight Connectivity Aircraft in Service, which can help investors monitor customer and aircraft adoption over time.
Defense pipeline is visible: For defense and advanced technologies, the dataset includes New Contract Awards, Book-to-Bill for Defense and Advanced Technologies, and Revenue from GATT (Defense and Advanced Technologies), which together can show whether the defense segment is converting pipeline into revenue.

Bear case

Defense conversion risk: The dataset includes Unawarded Indefinite Delivery and Indefinite Quantity Potential Contract Value, which highlights that not all potential defense business is already awarded or realized as revenue.
Deployment timing risk in maritime: For Nexus Wave, the dataset shows Nexus Wave Vessel Orders Not Yet Installed at 65 percent, indicating a portion of order volume may not have reached in-service deployment yet.

Valuation — source: SEC EDGAR (first-party)
Price	$74.05
Market Cap	$10.11B
EV / EBITDA	7.3
Price / Book	2.14
Price / Sales	2.18
DCF Value (model)	$14.59
DCF Upside vs Price	-80.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$4.64B
Net Margin	-0.7%
Revenue Growth (YoY)	2.7%
EPS Growth (YoY)	-94.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.02 (distress)

Valuation vs Sector & Industry
Sector P/E (Communication Services)	24.4
Industry P/E (Communication)	17.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($942.53M)
Institutional Holders Tracked	10
Congressional Trades (recent)	5

Company
Sector	Communication Services
Industry	Communication
CEO	Mark D. Dankberg
Employees	7,500
Country	US
IPO Date	1996-12-03

Related Companies (Business model: Consumer Subscription Content (Streaming, News, Audio); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.