KVHINasdaqCommunications Services, NECFiscal year ends December 31
KVH INDUSTRIES INC \DE\
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$6.18+0.26 (+4.39%)
Close on Oct 19, 2026
- Market cap
- $121.54M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
-10.1%+4.4 pts over 5 years
Net margin
-6.7%+7.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.5% | -7.2% | -6.9% | -5.0% | |
| Free cash flow | – | – | – | +13.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -6.7% | -15.6% | -5.5% | |
| Return on assets | -3.5% | -11.5% | -4.8% | |
| Current ratio | 2.75 | 2.48 | 7.07 | |
| Debt to equity | 0.55 | 0.05 | – | |
| Net debt to EBITDA | 2.81× | 0.50× | – | |
| Interest coverage | -0.9× | -1274.3× | – | |
| Inventory turnover | 2.2× | – | – | |
| Capex to revenue | 3.2% | 8.9% | 6.6% | |
| Diluted shares | 16M | 18M | 19M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Kvh Industries Inc \De\ generated $44.61M from operations and spent $60.52M on capital expenditure, dividends and share buybacks. 97% of that went back into the business.
Generated
$44.61M
Used
$60.52M
Capital expenditure$58.54M97%Dividends$00%Share buybacks$1.98M3%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-6.7%
×Asset turnover0.72×
×Equity multiplier1.14×
=Return on equity, FY2025-5.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -6.7% | 0.72× | 1.14× | -5.5% |
| FY2024 | -9.7% | 0.69× | 1.15× | -7.7% |
| FY2023 | -11.6% | 0.72× | 1.21× | -10.1% |
| FY2022 | 17.3% | 0.76× | 1.26× | 16.6% |
| FY2021 | -7.3% | 0.76× | 1.34× | -7.4% |
| FY2020 | -13.8% | 0.83× | 1.36× | -15.6% |
| FY2019 | 21.1% | 0.82× | 1.55× | 26.7% |
| FY2018 | -5.4% | 0.80× | 1.87× | -8.0% |
| FY2017 | -6.9% | 0.81× | 1.87× | -10.4% |
| FY2016 | -4.3% | 0.83× | 1.90× | -6.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$7.38M
- Cash generatingOperating cash flow above zero$17.11M
- Return on assets improvedROA up on the prior year-6.4% → -4.8%
- Earnings backed by cashOperating cash flow above net income$17.11M vs -$7.38M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose7.72 → 7.07
- No dilutionShare count did not rise19M → 19M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.66 → 0.72