Viasat (VSAT) FY2020 results: revenue $2.3 billion, up 11.7% on the year
Viasat Inc. (VSAT) reported revenue of $2.3 billion for fiscal 2020, the year ended 31 March 2020, up 11.7% on the year before. Net income was -$212,000, and diluted earnings per share $0.00. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2020.
Revenue
$2.3 billion
+11.7% on the year
FY2013FY2020
Operating margin
1.7%
-2.9% a year earlier
FY2013FY2020
Net income
-$212,000
FY2013FY2020
Diluted EPS
$0.00
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
2,309
2,068
1,595
+11.7%
Cost of revenue
1,610
1,538
1,121
+4.7%
Gross profit
700
531
474
+31.9%
Gross margin
30.3%
25.7%
29.7%
Research and development
130
123
168
+6.0%
Selling, general and administrative
523
458
385
+14.1%
Operating income
38.4
-60.6
-92.2
Operating margin
1.7%
-2.9%
-5.8%
Interest expense
38.6
50.0
4.0
-22.7%
Pre-tax income
1.4
-110
-105
Income tax
-7.9
-41.0
-35.2
Effective tax rate
-554.3%
n/a
n/a
Net income
-0.2
-67.6
-67.3
Net margin
-0.0%
-3.3%
-4.2%
Diluted EPS
$0.00
-$1.13
-$1.15
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
437
328
359
+33.4%
Capital expenditure
694
637
512
+9.0%
Free cash flow
-257
-309
-153
Free cash flow margin
-11.1%
-15.0%
-9.6%
Cash from investing
-759
-489
-584
Cash from financing
365
355
166
+3.0%
Depreciation and amortisation
342
319
256
+7.4%
Share-based compensation
86.6
79.6
68.5
+8.7%
Diluted shares, weighted
62m
60m
58m
+2.8%
Shares outstanding at period end
62m
61m
59m
+2.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,028
1,908
1,837
+6.3%
Non-controlling interest
22.4
8.3
10.8
+168.4%
Debt
1,851
1,413
1,024
+31.0%
Operating lease liabilities
287
n/a
n/a
Other liabilities
696
586
542
+18.6%
Total liabilities and equity
4,884
3,915
3,414
+24.7%
Fixed assets
2,587
2,125
n/a
+21.7%
Goodwill
121
122
121
-0.4%
Intangible assets
14.4
22.3
31.9
-35.3%
Cash and equivalents
304
262
71.4
+16.3%
Receivables
331
300
268
+10.1%
Inventory
294
235
196
+25.5%
Other assets
1,232
849
2,726
+45.0%
Total assets
4,884
3,915
3,414
+24.7%
10-K for the year ended 31 March 2020, filed 29 May 2020: the filing.