VIAVNasdaqSemiconductors & Related DevicesFiscal year ends June 27
VIAVI SOLUTIONS INC.
Financials through Q4 FY2026, quarter ended Jun 27, 2026Last filing: 10-K on Aug 13, 2026
$34.98+1.60 (+4.79%)
Close on Oct 19, 2026
- Market cap
- $8.37B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
57.7%−1.9 pts over 5 years
Operating margin
6.9%−4.9 pts over 5 years
Net margin
-2.0%−7.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +40.0% | +11.1% | +4.8% | +5.3% | |
| Gross profit | +40.9% | +11.1% | +4.1% | +4.8% | |
| Operating income | +82.8% | +8.4% | -5.9% | – | |
| Free cash flow | +33.5% | +9.5% | -15.4% | +11.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 21.5% | 9.7% | -2.7% | |
| Return on assets | 8.5% | 3.6% | -1.3% | |
| Current ratio | 7.29 | 1.49 | 1.85 | |
| Interest coverage | 0.2× | 9.7× | 2.2× | |
| Inventory turnover | 6.6× | 5.4× | 4.7× | |
| Capex to revenue | 4.8% | 4.3% | 2.0% | |
| Diluted shares | 235M | 236M | 230M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Viavi Solutions generated $612.30M from operations and spent $588.20M on capital expenditure, dividends and share buybacks. 34% of that went back into the business.
Generated
$612.30M
Used
$588.20M
Capital expenditure$202.00M34%Dividends$00%Share buybacks$386.20M66%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.0%
×Asset turnover0.65×
×Equity multiplier2.11×
=Return on equity, FY2026-2.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -2.0% | 0.65× | 2.11× | -2.7% |
| FY2025 | 3.2% | 0.58× | 2.55× | 4.8% |
| FY2024 | -2.6% | 0.56× | 2.61× | -3.8% |
| FY2023 | 2.3% | 0.60× | 2.70× | 3.7% |
| FY2022 | 1.2% | 0.68× | 2.64× | 2.2% |
| FY2021 | 5.6% | 0.64× | 2.68× | 9.7% |
| FY2020 | 4.3% | 0.63× | 2.85× | 7.8% |
| FY2019 | 0.5% | 0.59× | 2.82× | 0.8% |
| FY2018 | -5.5% | 0.42× | 2.69× | -6.3% |
| FY2017 | 19.9% | 0.42× | 2.54× | 21.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero-$30.40M
- Cash generatingOperating cash flow above zero$113.90M
- Return on assets improvedROA up on the prior year2.0% → -1.5%
- Earnings backed by cashOperating cash flow above net income$113.90M vs -$30.40M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.50 → 1.85
- No dilutionShare count did not rise226M → 230M
- Gross margin improvedGross margin up on the prior year57.28% → 57.66%
- More efficientAsset turnover rose0.62 → 0.76