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Viasat Piotroski F-Score

: 3 (As of Today)
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Warning Sign:

Piotroski F-Score of 3 is low, which usually implies poor business operation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Viasat has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Viasat's Piotroski F-Score or its related term are showing as below:

VSAT' s Piotroski F-Score Range Over the Past 10 Years
Min: 1   Med: 5   Max: 8
Current: 3

During the past 13 years, the highest Piotroski F-Score of Viasat was 8. The lowest was 1. And the median was 5.


Viasat Piotroski F-Score Historical Data

The historical data trend for Viasat's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Viasat Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Piotroski F-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.00 5.00 4.00 6.00 4.00

Viasat Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22
Piotroski F-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.00 6.00 6.00 4.00 3.00

Competitive Comparison

For the Communication Equipment subindustry, Viasat's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Viasat Piotroski F-Score Distribution

For the Hardware industry and Technology sector, Viasat's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Viasat's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Jun22) TTM:Last Year (Jun21) TTM:
Net Income was 3.291 + -6.613 + -29.18 + -21.564 = $-54 Mil.
Cash Flow from Operations was 162.67 + 158.579 + 119.263 + 39.637 = $480 Mil.
Revenue was 701.354 + 719.717 + 701.704 + 678.223 = $2,801 Mil.
Gross Profit was 212.911 + 219.596 + 204.122 + 195.837 = $832 Mil.
Average Total Assets from the begining of this year (Jun21)
to the end of this year (Jun22) was
(5994.533 + 5992.86 + 6086.794 + 6389.346 + 6483.355) / 5 = $6189.3776 Mil.
Total Assets at the begining of this year (Jun21) was $5,995 Mil.
Long-Term Debt & Capital Lease Obligation was $2,906 Mil.
Total Current Assets was $1,128 Mil.
Total Current Liabilities was $726 Mil.
Net Income was 1.963 + 6.76 + 7.357 + 16.968 = $33 Mil.

Revenue was 554.278 + 575.559 + 595.782 + 664.86 = $2,390 Mil.
Gross Profit was 166.965 + 184.27 + 195.669 + 210.884 = $758 Mil.
Average Total Assets from the begining of last year (Jun20)
to the end of last year (Jun21) was
(4904.374 + 5203.396 + 5248.706 + 5349.467 + 5994.533) / 5 = $5340.0952 Mil.
Total Assets at the begining of last year (Jun20) was $4,904 Mil.
Long-Term Debt & Capital Lease Obligation was $2,428 Mil.
Total Current Assets was $1,133 Mil.
Total Current Liabilities was $745 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Viasat's current Net Income (TTM) was -54. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Viasat's current Cash Flow from Operations (TTM) was 480. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Jun21)
=-54.066/5994.533
=-0.00901922

ROA (Last Year)=Net Income/Total Assets (Jun20)
=33.048/4904.374
=0.00673847

Viasat's return on assets of this year was -0.00901922. Viasat's return on assets of last year was 0.00673847. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Viasat's current Net Income (TTM) was -54. Viasat's current Cash Flow from Operations (TTM) was 480. ==> 480 > -54 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Jun22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun21 to Jun22
=2905.941/6189.3776
=0.46950456

Gearing (Last Year: Jun21)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Jun20 to Jun21
=2427.941/5340.0952
=0.45466249

Viasat's gearing of this year was 0.46950456. Viasat's gearing of last year was 0.45466249. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Jun22)=Total Current Assets/Total Current Liabilities
=1128.337/726.128
=1.55390923

Current Ratio (Last Year: Jun21)=Total Current Assets/Total Current Liabilities
=1133.028/744.555
=1.52175192

Viasat's current ratio of this year was 1.55390923. Viasat's current ratio of last year was 1.52175192. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Viasat's number of shares in issue this year was 74.863. Viasat's number of shares in issue last year was 72.818. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=832.466/2800.998
=0.29720335

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=757.788/2390.479
=0.31700258

Viasat's gross margin of this year was 0.29720335. Viasat's gross margin of last year was 0.31700258. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Jun21)
=2800.998/5994.533
=0.46725875

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Jun20)
=2390.479/4904.374
=0.48741776

Viasat's asset turnover of this year was 0.46725875. Viasat's asset turnover of last year was 0.48741776. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+1+0+1+0+1+0+0+0
=3

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Viasat has an F-score of 3. It is a bad or low score, which usually implies poor business operation.

Viasat  (NAS:VSAT) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Viasat Piotroski F-Score Related Terms

Thank you for viewing the detailed overview of Viasat's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Viasat Business Description

Viasat logo
Traded in Other Exchanges
Address
6155 El Camino Real, Carlsbad, CA, USA, 92009
Viasat Inc provides bandwidth technologies and services in three segments: satellite services, which provides satellite-based high-speed broadband services to consumers, enterprises, and commercial airlines; commercial networks, which develops end-to-end communication and connectivity systems; and government systems, which produces network-centric Internet Protocol-based secure government communication systems. A large majority of the firm's revenue is generated in the United States, with the rest coming from the Americas, Europe, Middle East, Africa, and Asia-Pacific.
Executives
Miller Craig Andrew officer: Pres. Government Systems C/O VIASAT, INC. 6155 EL CAMINO REAL CARLSBAD CA 92009
Nathan Krishna officer: Chief Information Officer 55 WATER STREET NEW YORK NY 10020
Dixon Evan Christopher officer: Pres. Global Fixed Broadband C/O VIASAT, INC. 6155 EL CAMINO REAL CARLSBAD CA 92009
Bridenstine James Frederick director C/O VIASAT, INC. 6155 EL CAMINO REAL CARLSBAD CA 92009
Dodd James Michael officer: President, Global Mobile 6155 EL CAMINO REAL CARLSBAD CA 92009
Wise Theresa director 400 FAIRVIEW AVENUE NORTH SUITE 1200 SEATTLE WA 98109
Klarman Seth A 10 percent owner 10 ST JAMES AVENUE STE 1700 BOSTON MA 02116
Baupost Group Gp, L.l.c. 10 percent owner 10 ST. JAMES AVENUE SUITE 1700 BOSTON MA 02116
Baupost Group Llc/ma 10 percent owner 10 ST JAMES AVE SUITE 1700 BOSTON MA 02116
Ryan David Louis officer: President Space Systems 6155 EL CAMINO REAL CARLSBAD CA 92009
Agnew Marc Henry officer: VP Commercial Networks 6155 EL CAMINO REAL CARLSBAD CA 92009
Pak Sean director 6155 EL CAMINO REAL CARLSBAD CA 92009
Rao Varsha Rajendra director 6155 EL CAMINO REAL CARLSBAD CA 92009
Chandran Girish officer: VP and CTO 6155 EL CAMINO REAL CARLSBAD CA 92009
Blair Robert James Blair officer: Vice President 6155 EL CAMINO REAL CARLSBAD CA 92009

Viasat Headlines

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