Market Cap : 2.63 B | Enterprise Value : 5.11 B | PE Ratio : At Loss | PB Ratio : 0.99 |
---|
NAS:VSAT has been successfully added to your Stock Email Alerts list.
You can manage your stock email alerts here.
NAS:VSAT has been removed from your Stock Email Alerts list.
Please enter Portfolio Name for new portfolio.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.48 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Viasat's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Viasat was 4.85. The lowest was -3.39. And the median was -2.79.
The historical data trend for Viasat's Beneish M-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.
For the Communication Equipment subindustry, Viasat's Beneish M-Score, along with its competitors' market caps and Beneish M-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.
For the Hardware industry and Technology sector, Viasat's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Viasat's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Viasat for today is based on a combination of the following eight different indices:
M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
= | -4.84 | + | 0.92 * 1.2184 | + | 0.528 * 1.0086 | + | 0.404 * 0.9796 | + | 0.892 * 1.2356 | + | 0.115 * 0.9719 | |
- | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI | |||||||
- | 0.172 * 1.0383 | + | 4.679 * -0.0822 | - | 0.327 * 1.052 | |||||||
= | -2.48 |
* 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 (Mar22) TTM: | Last Year (Mar21) TTM: |
Total Receivables was $359 Mil. Revenue was 701.704 + 719.717 + 701.354 + 664.86 = $2,788 Mil. Gross Profit was 204.122 + 219.596 + 212.911 + 210.884 = $848 Mil. Total Current Assets was $1,159 Mil. Total Assets was $6,389 Mil. Property, Plant and Equipment(Net PPE) was $4,098 Mil. Depreciation, Depletion and Amortization(DDA) was $495 Mil. Selling, General, & Admin. Expense(SGA) was $657 Mil. Total Current Liabilities was $770 Mil. Long-Term Debt & Capital Lease Obligation was $2,779 Mil. Net Income was -29.18 + -6.613 + 3.291 + 16.968 = $-16 Mil. Non Operating Income was 0 + 0 + 0 + 4.118 = $4 Mil. Cash Flow from Operations was 119.263 + 158.579 + 162.67 + 65.129 = $506 Mil. |
Total Receivables was $239 Mil. Revenue was 595.782 + 575.559 + 554.278 + 530.488 = $2,256 Mil. Gross Profit was 195.669 + 184.27 + 166.965 + 144.919 = $692 Mil. Total Current Assets was $991 Mil. Total Assets was $5,349 Mil. Property, Plant and Equipment(Net PPE) was $3,391 Mil. Depreciation, Depletion and Amortization(DDA) was $397 Mil. Selling, General, & Admin. Expense(SGA) was $512 Mil. Total Current Liabilities was $708 Mil. Long-Term Debt & Capital Lease Obligation was $2,116 Mil. |
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
= | (359.269 / 2787.635) | / | (238.652 / 2256.107) | |
= | 0.1288795 | / | 0.10578044 | |
= | 1.2184 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
= | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) | |
= | (691.823 / 2256.107) | / | (847.513 / 2787.635) | |
= | 0.30664459 | / | 0.30402581 | |
= | 1.0086 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
= | (1 - (1159.472 + 4098.088) / 6389.346) | / | (1 - (991.233 + 3390.939) / 5349.467) | |
= | 0.17713644 | / | 0.18082082 | |
= | 0.9796 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
SGI | = | Sales_t | / | Sales_t-1 |
= | Revenue_t | / | Revenue_t-1 | |
= | 2787.635 | / | 2256.107 | |
= | 1.2356 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
= | (397.102 / (397.102 + 3390.939)) | / | (495.447 / (495.447 + 4098.088)) | |
= | 0.10483044 | / | 0.10785746 | |
= | 0.9719 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
= | (657.251 / 2787.635) | / | (512.316 / 2256.107) | |
= | 0.23577369 | / | 0.22707966 | |
= | 1.0383 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
= | ((2778.88 + 770.421) / 6389.346) | / | ((2116.446 + 708.437) / 5349.467) | |
= | 0.55550302 | / | 0.52806812 | |
= | 1.052 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
= | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t | |
= | (-15.534 - 4.118 | - | 505.641) | / | 6389.346 | |
= | -0.0822 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Viasat has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.
Thank you for viewing the detailed overview of Viasat's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
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 |
From GuruFocus
Other Sources
By Zacks 2021-11-19
By Zacks 2021-12-08
By Zacks 2021-10-07
By Zacks 2021-10-07
By Zacks 2021-11-09
By Zacks 2022-02-07
By Zacks 2021-11-08
By Zacks 2021-11-17
By Zacks 2021-11-25
By Zacks 2022-03-11
By Zacks 2021-10-28
By Zacks 2021-11-03
By Zacks 2022-01-27