Viavi Solutions Inc Financials
This page shows Viavi Solutions Inc (VIAV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
VIAV's high gross margin no longer converts cleanly into earnings because sticky operating costs are absorbing weaker sales volume.
Across the last three valid annual periods, gross margin slipped only2.6% points, while operating margin fell9.0% points. Because SG&A and R&D stayed relatively sticky as sales cooled, the profit squeeze looks more like fixed-cost absorption pressure than deteriorating underlying product economics, meaning the company still produces healthy gross profit but is carrying an overhead base sized for more revenue.
Operating cash flow of
Long-term debt has been cut to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Viavi Solutions Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Viavi Solutions Inc has an operating margin of 5.3%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 62/100, indicating healthy but not exceptional operating efficiency. This is down from 7.4% the prior year.
Viavi Solutions Inc's revenue declined 2% year-over-year, from $1.1B to $1.1B. This contraction results in a growth score of 12/100.
Viavi Solutions Inc carries a low D/E ratio of 0.51, meaning only $0.51 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.
Viavi Solutions Inc's current ratio of 1.50 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.
Viavi Solutions Inc has a free cash flow margin of 5.7%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.
Viavi Solutions Inc's ROE of 4.5% shows moderate profitability relative to equity, earning a score of 54/100. This is up from 3.8% the prior year.
Viavi Solutions Inc scores -43.25, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($9.7B) relative to total liabilities ($1.2B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Viavi Solutions Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Viavi Solutions Inc generates $2.58 in operating cash flow ($89.8M OCF vs $34.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Viavi Solutions Inc earns $1.9 in operating income for every $1 of interest expense ($57.5M vs $30.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Viavi Solutions Inc generated $1.1B in revenue in fiscal year 2025. This represents a decrease of 2.0% from the prior year.
Viavi Solutions Inc's EBITDA was $100.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 20.9% from the prior year.
Viavi Solutions Inc reported $34.8M in net income in fiscal year 2025. This represents an increase of 36.5% from the prior year.
Viavi Solutions Inc earned $0.15 per diluted share (EPS) in fiscal year 2025. This represents an increase of 36.4% from the prior year.
Cash & Balance Sheet
Viavi Solutions Inc generated $62.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 1.6% from the prior year.
Viavi Solutions Inc held $423.6M in cash against $396.3M in long-term debt as of fiscal year 2025.
Viavi Solutions Inc had 223M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.
Margins & Returns
Viavi Solutions Inc's gross margin was 57.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.
Viavi Solutions Inc's operating margin was 5.3% in fiscal year 2025, reflecting core business profitability. This is down 2.1 percentage points from the prior year.
Viavi Solutions Inc's net profit margin was 3.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.9 percentage points from the prior year.
Viavi Solutions Inc's ROE was 4.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the prior year.
Capital Allocation
Viavi Solutions Inc invested $208.7M in research and development in fiscal year 2025. This represents an increase of 0.9% from the prior year.
Viavi Solutions Inc spent $16.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 80.5% from the prior year.
Viavi Solutions Inc invested $27.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 45.6% from the prior year.
VIAV Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $406.8M+10.2% | $369.3M+23.5% | $299.1M+3.0% | $290.5M+2.0% | $284.8M+5.2% | $270.8M+13.7% | $238.2M | N/A |
| Cost of Revenue | $172.7M+8.8% | $158.7M+22.0% | $130.1M+2.4% | $127.0M+2.3% | $124.1M+12.8% | $110.0M+7.7% | $102.1M | N/A |
| Gross Profit | $234.1M+11.2% | $210.6M+24.6% | $169.0M+3.4% | $163.5M+1.7% | $160.7M-0.1% | $160.8M+18.1% | $136.1M | N/A |
| R&D Expenses | $71.0M+7.7% | $65.9M+17.7% | $56.0M-2.1% | $57.2M+14.4% | $50.0M-4.0% | $52.1M+5.5% | $49.4M | N/A |
| SG&A Expenses | $113.6M-10.6% | $127.1M+22.0% | $104.2M+16.2% | $89.7M-11.5% | $101.3M+20.2% | $84.3M+13.8% | $74.1M | N/A |
| Operating Income | $24.8M+117.5% | $11.4M+50.0% | $7.6M-50.3% | $15.3M+80.0% | $8.5M-61.7% | $22.2M+93.0% | $11.5M | N/A |
| Interest Expense | $14.3M-6.5% | $15.3M+106.8% | $7.4M-1.3% | $7.5M0.0% | $7.5M0.0% | $7.5M0.0% | $7.5M | N/A |
| Income Tax | $7.4M-23.7% | $9.7M-48.9% | $19.0M+763.6% | $2.2M+113.5% | -$16.3M-271.6% | $9.5M+5.6% | $9.0M | N/A |
| Net Income | $6.4M+113.3% | -$48.1M-124.8% | -$21.4M-367.5% | $8.0M-59.0% | $19.5M+114.3% | $9.1M+605.6% | -$1.8M | N/A |
| EPS (Diluted) | $0.03+114.3% | $-0.21-110.0% | $-0.10 | N/A | $0.09+125.0% | $0.04+500.0% | $-0.01 | N/A |
VIAV Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.5B-9.0% | $2.8B+33.4% | $2.1B+4.4% | $2.0B+3.1% | $1.9B+12.1% | $1.7B-0.7% | $1.7B+0.1% | $1.7B |
| Current Assets | $1.1B-17.6% | $1.3B+29.1% | $990.3M+11.9% | $885.2M+6.0% | $835.4M-5.1% | $880.4M+1.9% | $864.0M-1.4% | $876.5M |
| Cash & Equivalents | $499.0M-34.8% | $765.5M+40.8% | $543.8M+28.4% | $423.6M+13.2% | $374.2M-23.3% | $488.0M+4.3% | $467.9M-0.7% | $471.3M |
| Inventory | $147.9M+4.9% | $141.0M+13.3% | $124.5M+5.6% | $117.9M+1.5% | $116.2M+25.2% | $92.8M-0.4% | $93.2M-3.4% | $96.5M |
| Accounts Receivable | $320.3M+12.5% | $284.6M+17.6% | $242.0M-7.3% | $261.0M+3.2% | $252.8M+19.0% | $212.5M+4.6% | $203.1M-4.7% | $213.1M |
| Goodwill | $701.8M-0.4% | $704.4M+18.9% | $592.3M-0.6% | $595.7M+1.8% | $585.4M+29.8% | $451.1M-2.2% | $461.2M+1.8% | $452.9M |
| Total Liabilities | $1.7B-13.5% | $1.9B+43.1% | $1.4B+11.9% | $1.2B+0.8% | $1.2B+15.6% | $1.0B+0.7% | $1.0B-1.8% | $1.1B |
| Current Liabilities | $652.5M+33.3% | $489.6M-1.6% | $497.5M-15.6% | $589.7M+8.3% | $544.7M+119.6% | $248.0M+6.5% | $232.8M-5.8% | $247.1M |
| Long-Term Debt | $836.3M-31.5% | $1.2B+90.7% | $640.5M+61.6% | $396.3M+0.1% | $396.1M-38.0% | $639.3M+0.3% | $637.6M+0.3% | $636.0M |
| Total Equity | $846.5M+1.5% | $834.3M+15.3% | $723.9M-7.2% | $780.2M+7.1% | $728.8M+6.7% | $682.8M-2.7% | $702.1M+3.0% | $681.6M |
| Retained Earnings | -$69.7B0.0% | -$69.7B-0.1% | -$69.7B-0.1% | -$69.6B0.0% | -$69.6B0.0% | -$69.7B0.0% | -$69.7B0.0% | -$69.6B |
VIAV Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$26.3M-161.9% | $42.5M+37.1% | $31.0M+30.3% | $23.8M+205.1% | $7.8M-82.6% | $44.7M+231.1% | $13.5M | N/A |
| Capital Expenditures | $5.9M+5.4% | $5.6M-34.1% | $8.5M+54.5% | $5.5M-19.1% | $6.8M-17.1% | $8.2M+12.3% | $7.3M | N/A |
| Free Cash Flow | -$32.2M-187.3% | $36.9M+64.0% | $22.5M+23.0% | $18.3M+1730.0% | $1.0M-97.3% | $36.5M+488.7% | $6.2M | N/A |
| Investing Cash Flow | -$4.7M+98.8% | -$404.3M-4771.1% | -$8.3M-167.5% | $12.3M+109.8% | -$124.9M-2804.7% | -$4.3M+62.6% | -$11.5M | N/A |
| Financing Cash Flow | -$231.4M-139.7% | $582.9M+496.6% | $97.7M+97800.0% | -$100K+93.8% | -$1.6M-77.8% | -$900K+95.7% | -$21.0M | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0-100.0% | $30.0M | $0 | $0 | $0-100.0% | $16.4M | N/A |
VIAV Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.6%+0.5pp | 57.0%+0.5pp | 56.5%+0.2pp | 56.3%-0.2pp | 56.4%-2.9pp | 59.4%+2.2pp | 57.1% | N/A |
| Operating Margin | 6.1%+3.0pp | 3.1%+0.6pp | 2.5%-2.7pp | 5.3%+2.3pp | 3.0%-5.2pp | 8.2%+3.4pp | 4.8% | N/A |
| Net Margin | 1.6%+14.6pp | -13.0%-5.9pp | -7.1%-9.9pp | 2.8%-4.1pp | 6.9%+3.5pp | 3.4%+4.1pp | -0.8% | N/A |
| Return on Equity | 0.8%+6.5pp | -5.8%-2.8pp | -3.0%-4.0pp | 1.0%-1.7pp | 2.7%+1.4pp | 1.3%+1.6pp | -0.3% | N/A |
| Return on Assets | 0.3%+2.0pp | -1.7%-0.7pp | -1.0%-1.4pp | 0.4%-0.6pp | 1.0%+0.5pp | 0.5%+0.6pp | -0.1% | N/A |
| Current Ratio | 1.61-1.0 | 2.61+0.6 | 1.99+0.5 | 1.50-0.0 | 1.53-2.0 | 3.55-0.2 | 3.71+0.2 | 3.55 |
| Debt-to-Equity | 0.99-0.5 | 1.46+0.6 | 0.88+0.4 | 0.51-0.0 | 0.54-0.4 | 0.94+0.0 | 0.91-0.0 | 0.93 |
| FCF Margin | -7.9%-17.9pp | 10.0%+2.5pp | 7.5%+1.2pp | 6.3%+5.9pp | 0.4%-13.1pp | 13.5%+10.9pp | 2.6% | N/A |
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Frequently Asked Questions
What is Viavi Solutions Inc's annual revenue?
Viavi Solutions Inc (VIAV) reported $1.1B in total revenue for fiscal year 2025. This represents a -2.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Viavi Solutions Inc's revenue growing?
Viavi Solutions Inc (VIAV) revenue declined by 2% year-over-year, from $1.1B to $1.1B in fiscal year 2025.
Is Viavi Solutions Inc profitable?
Yes, Viavi Solutions Inc (VIAV) reported a net income of $34.8M in fiscal year 2025, with a net profit margin of 3.2%.
What is Viavi Solutions Inc's EBITDA?
Viavi Solutions Inc (VIAV) had EBITDA of $100.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Viavi Solutions Inc have?
As of fiscal year 2025, Viavi Solutions Inc (VIAV) had $423.6M in cash and equivalents against $396.3M in long-term debt.
What is Viavi Solutions Inc's gross margin?
Viavi Solutions Inc (VIAV) had a gross margin of 57.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Viavi Solutions Inc's operating margin?
Viavi Solutions Inc (VIAV) had an operating margin of 5.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Viavi Solutions Inc's net profit margin?
Viavi Solutions Inc (VIAV) had a net profit margin of 3.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Viavi Solutions Inc's return on equity (ROE)?
Viavi Solutions Inc (VIAV) has a return on equity of 4.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Viavi Solutions Inc's free cash flow?
Viavi Solutions Inc (VIAV) generated $62.0M in free cash flow during fiscal year 2025. This represents a -1.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Viavi Solutions Inc's operating cash flow?
Viavi Solutions Inc (VIAV) generated $89.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Viavi Solutions Inc's total assets?
Viavi Solutions Inc (VIAV) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Viavi Solutions Inc's capital expenditures?
Viavi Solutions Inc (VIAV) invested $27.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Viavi Solutions Inc spend on research and development?
Viavi Solutions Inc (VIAV) invested $208.7M in research and development during fiscal year 2025.
What is Viavi Solutions Inc's current ratio?
Viavi Solutions Inc (VIAV) had a current ratio of 1.50 as of fiscal year 2025, which is generally considered healthy.
What is Viavi Solutions Inc's debt-to-equity ratio?
Viavi Solutions Inc (VIAV) had a debt-to-equity ratio of 0.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Viavi Solutions Inc's return on assets (ROA)?
Viavi Solutions Inc (VIAV) had a return on assets of 1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Viavi Solutions Inc's Altman Z-Score?
Viavi Solutions Inc (VIAV) has an Altman Z-Score of -43.25, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Viavi Solutions Inc's Piotroski F-Score?
Viavi Solutions Inc (VIAV) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Viavi Solutions Inc's earnings high quality?
Viavi Solutions Inc (VIAV) has an earnings quality ratio of 2.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Viavi Solutions Inc cover its interest payments?
Viavi Solutions Inc (VIAV) has an interest coverage ratio of 1.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Viavi Solutions Inc?
Viavi Solutions Inc (VIAV) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.