Lumentum vs Viasat
Viasat is the larger business, with $4.64bn of revenue in fiscal 2026 against $3.01bn for Lumentum (1.5 times as much). Lumentum grew faster (83.2% against 2.7%). Viasat kept more of each dollar of sales as profit: a net margin of -0.7% against -230.1%. Lumentum carries less debt relative to equity (35.3% against 141.3%).
| Latest fiscal year | LumentumLITE, 2026 | ViasatVSAT, 2026 |
|---|---|---|
| Revenue | $3.01bn | $4.64bn |
| Revenue growth | 83.2% | 2.7% |
| Net income | −$6.94bn | −$34.1m |
| Operating margin | 17.4% | 2.3% |
| Net margin | -230.1% | -0.7% |
| Return on equity | — | -0.7% |
| Free cash flow | $300m | $1.59bn |
| Cash | $2.04bn | $1.75bn |
| Total debt | $1.64bn | $6.59bn |
| Debt to equity | 35.3% | 141.3% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 13,757 | — |
| Market value | $59.78bn | $10.33bn |
| Price vs our value range | — | Above our value range |
| Moat score | 24 (Weak) | 19 (Weak) |
| Insider trades, 12 months | 0 buys, 185 sales | 0 buys, 63 sales |