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Viavi Solutions Inc. (VIAV) stock

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NASDAQ: VIAV Nasdaq Semiconductors Next results ~November 4, 2026

C+ Fundamentals grade

Viavi Solutions works in test and measurement and optical technologies. Its Network and Service Enablement (NSE) division supplies instruments and software to build, test, monitor and secure communication networks, fibre broadband and data centres, alongside resilient positioning, navigation and timing (PNT) equipment for military, aerospace, railway and first-responder use.

NSE customers include telecoms and datacom carriers, network-equipment and semiconductor makers, cloud and data-centre operators, enterprises, utilities and government and defence bodies; named accounts include AT&T, Verizon, Cisco, Nokia and Ericsson. Viavi earns money by selling hardware, application software and testing-as-a-service. Its Optical Security and Performance Products (OSP) division manufactures colour-shifting pigments formulated into inks for banknotes and secure documents, plus thin-film optical filters for 3D sensing, automotive LiDAR, aerospace and industrial markets.

The two divisions each run their own engineering, manufacturing and sales, and sell worldwide. OSP markets its banknote materials through an alliance with SICPA, and its anti-counterfeiting technology appears on banknotes in more than 100 countries. In October 2025 Viavi acquired certain businesses of Spirent Communications.

Based on Viavi Solutions Inc.'s 10-K filed August 13, 2026.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 110% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 110% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Viavi Solutions Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Viavi Solutions files

Where Viavi Solutions stands after its latest 10-K

Revenue for the twelve months to June 2026 was $1.52bn, up 40.0% on a year earlier, faster than 30.6% a quarter earlier. That growth ranks 5 of 33 among the semiconductor companies we cover. Free-cash-flow margin held at 5.5%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks.

Our model value for Viavi Solutions is under review, so past values are not shown until it is resolved.

Source: 10-K filed August 13, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Viavi Solutions Inc.'s trailing-twelve-month revenue grew 40.0% year on year, with a free-cash-flow margin of 5.5%. Where it stands out: revenue growth of 40.0% ranks 12 of 75 semiconductor companies we cover. Where it lags: days sales outstanding of 84 days ranks 51 of 62 semiconductor companies we cover.

Our discounted-cash-flow model values the business at ~$9.9 per share in the base case (~$7.5–$13 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 40.0% (+9.4pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 40.0% over the last 12 months, against a median of 13.7% for semiconductor companies we cover.
  • Growth speeding up. The growth rate is 9.4 points higher than a quarter earlier.
  • Net cash. Cash exceeds long-term debt by $0.6bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 5.8% over 90 days.

Things to watch

  • Results due soon. Results are expected around 4 November; the share price can move sharply on the day.
  • Volatile shares. Over the past year the shares showed annualised volatility of 78% and a beta of 2.7 against the S&P 500.
  • Insiders selling. 14 insiders sold $62M of stock over the past 365 days and none bought (4% under pre-set trading plans).
  • Below peers: days sales outstanding. Days sales outstanding of 84 days ranks 51 of 62 semiconductor companies we cover (median 58 days).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 33.1% ranks 38 of 47 semiconductor companies we cover (median 14.0%).

Latest results: FY2026 Q4

Filed August 13, 2026
Earnings per share
$0.34 against an average estimate of $0.30: beat by 13.9%
Revenue
$443m, up 52.5% on a year earlier
Share reaction
+0.7% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
net revenue $450m to $460m (the first quarter of fiscal 2027); non-GAAP EPS $0.4 to $0.42 (the first quarter of fiscal 2027)
Next report
November 4, 2026; average EPS estimate $0.41

Viavi Solutions' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-7.1%
  • 1 week-12.8%
  • 1 month-41.0%
  • This year+56.0%
  • 1 year+57.1%
  • 5 years+68.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.5B
Operating margin
6.9%
Net margin
-2.0%
EPS (TTM, diluted)
$-0.13

Growth

Revenue growth
+40.0%
Change in growth rate
+9.4 pts
Share count change
+1.7%

Cash

Free cash flow (TTM)
$82.8M
FCF margin
5.5%
Stock pay % of revenue
3.6%

Earnings

Last results
August 5, 2026
Next results (est.)
November 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Product
  2. Guidance
  3. Announcement
  4. Results
  5. Partnership
  6. Announcement
  7. Announcement
  8. Insider trade
  9. Announcement
  10. Insider trade
  11. Insider trade
  12. Announcement
  13. Results
  14. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Viavi Solutions Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 110% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Viavi Solutions Inc. as an operating company, with every model that fits that kind of business. Cost of equity 11.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.51 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$30 ~$28–$51 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$1.1 ~$0.7–$1.8 Left out: out of range vs price (0.04x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Viavi Solutions Inc. with Semiconductors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$6.61$10.53$10.24$13.29$12.50$17.47$13.09$11.33$6.87$10.00$47.63
Market value$1.5bn$2.5bn$2.3bn$3.1bn$2.9bn$4.1bn$3.1bn$2.6bn$1.5bn$2.3bn$10.9bn
+ Net debt (− = net cash)$100m−$73m$497m$57m$143m−$17m$125m$219m$165m$219m−$6m
Enterprise value$1.6bn$2.4bn$2.8bn$3.1bn$3.1bn$4.1bn$3.2bn$2.8bn$1.7bn$2.5bn$10.9bn
Multiples
Price / sales 1.7x3.1x2.7x2.7x2.6x3.4x2.4x2.3x1.5x2.1x7.2x
Price / earnings —15.4x—n/m59.9x61.2xn/m100.7x—64.9x—
Price / free cash flow 53.7x44.3x99.0x32.8x28.3x21.6x29.5x40.8x15.8x36.4x132.0x
EV / EBITDA —65.8x75.1x29.2x19.5x23.1x14.7x23.5x28.5x25.8x75.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

69 /100

Moderate moat

How hard Viavi Solutions's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 15.7% of total assets over 10 years.

  • Pricing power 19 / 20

    Gross margin has been a median 57.7%, moving by 1.2 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 6.4%; its worst year was 0.2%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 7.5% of revenue.

  • Discipline 15 / 20

    The diluted share count fell 2.9% over five years; stock-based pay has been a median 4.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $455m and EPS of $0.41 (range $0.40 to $0.41) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.64 +64% $1.9bn +24%
Next $1.95 +19% $2.1bn +14%

Next year's EPS estimate has moved +5.8% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +32.3% on 90 days ago. In the last 30 days, 0 analysts raised Viavi Solutions Inc.'s forecast and 0 cut it.

Consensus EPS forecast Viavi Solutions Inc., last 90 days
$1.20 $1.40 $1.60 $1.80 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.24 Current fiscal year, 60 days ago: $1.64 Current fiscal year, 30 days ago: $1.64 Current fiscal year, 7 days ago: $1.64 Current fiscal year, Now: $1.64 $1.64 Next fiscal year, 90 days ago: $1.84 Next fiscal year, 60 days ago: $1.95 Next fiscal year, 30 days ago: $1.95 Next fiscal year, 7 days ago: $1.95 Next fiscal year, Now: $1.95 $1.95

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.24$1.84
60 days ago $1.64$1.95
30 days ago $1.64$1.95
7 days ago $1.64$1.95
Now $1.64$1.95

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.30 $0.34 +13.9%
Mar 2026 $0.23 $0.27 +17.0%
Dec 2025 $0.19 $0.22 +17.2%
Sept 2025 $0.13 $0.15 +14.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • net revenue the first quarter of fiscal 2027 $450m to $460m
    “For the first quarter of fiscal 2027 ending October 3, 2026, the Company expects net revenue to be between $450 million to $460 million and non-GAAP EPS to be between $0.40 to $0.42.” source
  • non-GAAP EPS the first quarter of fiscal 2027 $0.40 to $0.42 Non-GAAP
    “For the first quarter of fiscal 2027 ending October 3, 2026, the Company expects net revenue to be between $450 million to $460 million and non-GAAP EPS to be between $0.40 to $0.42.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

8 analysts, Nov 2026
Buy788%
Hold113%
Sell00%

Monthly trend

  1. Nov 20261618
  2. Oct 20261618
  3. Sep 20261618

Counts of recommendations published by analysts covering Viavi Solutions Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.9%
of tradable shares
Days to cover
2.08
at average volume
Short interest, 1 month
+6%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.2%
of shares
Employees
4,100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +57.1%

$17.70 on October 31, 2025 to $27.80

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.5bn +40.0%
P/S multiple 3.7x 4.2x +14.1%
Share count 226m 230m −1.7%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +234.5%

$8.31 on November 3, 2023 to $27.80

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.5bn +37.3%
P/S multiple 1.7x 4.2x +147.5%
Share count 226m 230m −1.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
VIAV+18%−40%−4%+0%+76%+56%
Industry peers (median)+36%−34%+16%−15%+16%+13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
VIAV50%25%42%50%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
VIAV−17%−44%−36%−39%−30%−50%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 63% from June 28, 2021 to June 26, 2024. Getting back needed a 169% gain, reached on November 10, 2025, 502 days after the low.

Price behaviour

52-week range
$15.92 – $55.33
From 52-week high
−49.8%
vs 50-day average
−25.7%
vs 200-day average
−28.3%
Volatility (1 year)
78%
Beta vs S&P 500
2.69

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±10.7%
After a week
9 up, 3 down
typical move ±13.5%
After a month
8 up, 4 down
typical move ±14.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +0.7% −0.4% +6.9% −16.6%
April 29, 2026 +21.4% +1.0% +22.8% +12.5%
January 28, 2026 +19.3% −0.2% +18.4% +43.5%
October 29, 2025 +22.1% −1.1% +24.6% +28.1%
August 7, 2025 +8.9% +0.7% +7.6% +15.6%
May 1, 2025 −11.7% +2.2% −13.3% −13.5%
January 30, 2025 +21.6% 0.0% +29.3% +10.5%
October 31, 2024 +4.3% −1.5% +11.1% +9.7%
August 8, 2024 −1.9% +2.8% +8.9% +7.1%
May 2, 2024 −4.5% +2.2% −5.7% −3.9%
February 1, 2024 −3.5% +2.4% −11.5% −1.0%
November 2, 2023 +8.8% +2.8% +2.1% +12.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Viavi Solutions Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Viavi Solutions Inc.
$800M $1B $1.2B $1.4B $1.6B FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $1B Revenue (TTM), FY24 Q2: $1B Revenue (TTM), FY24 Q3: $1B Revenue (TTM), FY24 Q4: $1B Revenue (TTM), FY25 Q1: $990.7M Revenue (TTM), FY25 Q2: $1B Revenue (TTM), FY25 Q3: $1B Revenue (TTM), FY25 Q4: $1.1B Revenue (TTM), FY26 Q1: $1.1B Revenue (TTM), FY26 Q2: $1.2B Revenue (TTM), FY26 Q3: $1.4B Revenue (TTM), FY26 Q4: $1.5B $1.5B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $1B
FY24 Q2 $1B
FY24 Q3 $1B
FY24 Q4 $1B
FY25 Q1 $990.7M
FY25 Q2 $1B
FY25 Q3 $1B
FY25 Q4 $1.1B
FY26 Q1 $1.1B
FY26 Q2 $1.2B
FY26 Q3 $1.4B
FY26 Q4 $1.5B
Revenue growth, TTM YoY Viavi Solutions Inc.
-20% 0% 20% 40% 60% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: -18.2% Revenue growth, TTM YoY, FY24 Q2: -18.6% Revenue growth, TTM YoY, FY24 Q3: -14.1% Revenue growth, TTM YoY, FY24 Q4: -9.6% Revenue growth, TTM YoY, FY25 Q1: -5.1% Revenue growth, TTM YoY, FY25 Q2: -0.7% Revenue growth, TTM YoY, FY25 Q3: 3.3% Revenue growth, TTM YoY, FY25 Q4: 8.4% Revenue growth, TTM YoY, FY26 Q1: 15.6% Revenue growth, TTM YoY, FY26 Q2: 23.5% Revenue growth, TTM YoY, FY26 Q3: 30.6% Revenue growth, TTM YoY, FY26 Q4: 40.0% 40.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 -18.2%
FY24 Q2 -18.6%
FY24 Q3 -14.1%
FY24 Q4 -9.6%
FY25 Q1 -5.1%
FY25 Q2 -0.7%
FY25 Q3 3.3%
FY25 Q4 8.4%
FY26 Q1 15.6%
FY26 Q2 23.5%
FY26 Q3 30.6%
FY26 Q4 40.0%
Operating margin (TTM) Viavi Solutions Inc.
0% 2% 4% 6% 8% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: 4.7% Operating margin (TTM), FY24 Q2: 4.7% Operating margin (TTM), FY24 Q3: 3.8% Operating margin (TTM), FY24 Q4: 2.1% Operating margin (TTM), FY25 Q1: 1.6% Operating margin (TTM), FY25 Q2: 1.6% Operating margin (TTM), FY25 Q3: 3.5% Operating margin (TTM), FY25 Q4: 5.3% Operating margin (TTM), FY26 Q1: 4.7% Operating margin (TTM), FY26 Q2: 3.4% Operating margin (TTM), FY26 Q3: 4.3% Operating margin (TTM), FY26 Q4: 6.9% 6.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 4.7%
FY24 Q2 4.7%
FY24 Q3 3.8%
FY24 Q4 2.1%
FY25 Q1 1.6%
FY25 Q2 1.6%
FY25 Q3 3.5%
FY25 Q4 5.3%
FY26 Q1 4.7%
FY26 Q2 3.4%
FY26 Q3 4.3%
FY26 Q4 6.9%
FCF margin (TTM) Viavi Solutions Inc.
0% 5% 10% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: 9.1% FCF margin (TTM), FY24 Q2: 8.0% FCF margin (TTM), FY24 Q3: 9.0% FCF margin (TTM), FY24 Q4: 9.7% FCF margin (TTM), FY25 Q1: 6.0% FCF margin (TTM), FY25 Q2: 8.1% FCF margin (TTM), FY25 Q3: 6.3% FCF margin (TTM), FY25 Q4: 5.7% FCF margin (TTM), FY26 Q1: 6.8% FCF margin (TTM), FY26 Q2: 6.3% FCF margin (TTM), FY26 Q3: 3.3% FCF margin (TTM), FY26 Q4: 5.5% 5.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 9.1%
FY24 Q2 8.0%
FY24 Q3 9.0%
FY24 Q4 9.7%
FY25 Q1 6.0%
FY25 Q2 8.1%
FY25 Q3 6.3%
FY25 Q4 5.7%
FY26 Q1 6.8%
FY26 Q2 6.3%
FY26 Q3 3.3%
FY26 Q4 5.5%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jul 2010 2011 Jul 2011 2012 Jun 2012 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jul 2016 2017 Jul 2017 2018 Jun 2018 2019 Jun 2019 2020 Jun 2020 2021 Jul 2021 2022 Jul 2022 2023 Jul 2023 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 1,364 1,782 1,662 1,677 927 874 906 805 876 1,130 1,136 1,199 1,292 1,106 1,000 1,084 1,518
Gross profit 547 786 706 695 528 520 550 479 488 651 665 714 774 639 576 621 875
EBITDA 4 137 71 44 17 5 −46 36 38 107 158 178 221 119 59 96 146
Operating income −54 73 0 −25 −56 −76 −84 7 2 67 118 142 185 82 21 58 105
Net income −62 72 −56 57 −18 −88 −99 160 −49 5 49 68 16 26 −26 35 −30
Diluted EPS −$0.28 $0.31 −$0.24 $0.24 −$0.08 −$0.38 −$0.42 $0.68 −$0.21 $0.02 $0.21 $0.29 $0.07 $0.11 −$0.12 $0.15 −$0.13
Growth (year on year)
Revenue +6.3% +30.6% −6.7% +0.9% −44.7% −5.7% +3.7% −11.2% +8.8% +29.1% +0.5% +5.5% +7.8% −14.4% −9.6% +8.4% +40.0%
EBITDA — — −48.2% −38.5% −61.1% — — — +3.3% +184.8% +47.6% +12.6% +24.0% −46.3% −49.9% +61.4% +51.7%
Operating income — — −99.4% — — — — — — — +75.2% +20.4% +30.1% −55.5% −74.8% +176.4% +82.8%
Net income — — −177.7% — −131.2% — — — −130.3% — — +37.8% −77.0% — −201.2% — −187.4%
Diluted EPS — — −177.4% — −133.3% — — — −130.9% — — +38.1% −75.9% — −209.1% — −186.7%
Margins
Gross margin 40.1% 44.1% 42.4% 41.4% 56.9% 59.5% 60.7% 59.5% 55.8% 57.6% 58.5% 59.6% 59.8% 57.8% 57.6% 57.3% 57.7%
EBITDA margin 0.3% 7.7% 4.3% 2.6% 1.8% 0.6% −5.1% 4.5% 4.3% 9.5% 13.9% 14.8% 17.1% 10.7% 5.9% 8.8% 9.6%
Operating margin −4.0% 4.1% 0.0% −1.5% −6.0% −8.7% −9.3% 0.9% 0.2% 6.0% 10.4% 11.9% 14.3% 7.4% 2.1% 5.3% 6.9%
Net margin −4.5% 4.0% −3.3% 3.4% −1.9% −10.1% −10.9% 19.9% −5.5% 0.5% 4.3% 5.6% 1.2% 2.3% −2.6% 3.2% −2.0%
Free-cash-flow margin 5.7% 5.0% 2.8% 7.3% 8.3% −2.2% 3.2% 6.9% 2.7% 8.3% 9.1% 15.9% 8.2% 5.7% 9.7% 5.7% 5.5%
Cash flow
Cash from operations 119 205 119 188 177 82 64 94 66 139 136 243 178 114 116 90 114
Capital spending 41 117 72 65 100 102 36 39 43 45 32 52 73 51 20 28 31
Free cash flow 78 89 47 123 77 −19 29 56 24 94 104 191 106 63 97 62 83
Stock-based pay 43 41 49 57 64 67 44 33 31 38 45 48 52 51 49 53 55
Free cash flow after stock pay 35 47 −2 66 13 −86 −15 23 −7 56 59 143 53 12 48 9 27
Balance sheet
Cash 340 395 401 281 297 335 483 1,004 611 522 539 698 560 507 471 424 648
Total debt 267 286 594 2 536 562 583 931 1,109 579 682 681 685 726 636 643 642
Net debt (negative = net cash) −73 −110 193 −279 239 227 100 −73 497 57 143 −17 125 219 165 219 −6
Diluted shares 219m 233m 230m 239m 234m 233m 234m 235m 227m 231m 235m 236m 238m 227m 223m 226m 230m
Returned to shareholders
Buybacks — — — — 155 5 45 92 41 11 44 42 236 84 20 16 30
Total returned — — — — 155 5 45 92 41 11 44 42 236 84 20 16 30

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · June 27, 2026
What it owns · $2.7bn
Short-term assets $1.3bnLonger-term assets $1.4bn
What it owes, and who funded it · $2.7bn
Short-term liabilities $681mLonger-term liabilities $577mShareholders' equity $1.4bn
  • Short-term assets cover short-term liabilities $1.3bn of assets due within a year against $680m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.3bn short-term assets against $577m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $105m against $47m of interest.

From Viavi Solutions Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$30M
Returned to shareholders
36%
of free cash flow
Buybacks, last 3 fiscal years
$66.4M
Diluted share count
+1.7%
year over year
Total shareholder yield
0.4%
dividends 0.0% + buybacks 0.4% of market value
R&D spending
17.3%
of revenue
Sales & admin spending
30.9%
of revenue
Days sales outstanding
84 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductors
Last 12 months unless stated VIAV TSEM CRDO DIOD PENG ENPH Median
Revenue, last 12 months $1.5bn $1.6bn $1.6bn $1.6bn $1.7bn $1.2bn $1.1bn
Revenue growth, last 12 months 40.0% 9.1% 165.1% 17.8% 26.5% −19.9% 13.7%
Revenue growth, 3-year average 11.1% 45.8% 109.6% −5.7% 6.3% −23.6% 3.9%
Revenue growth, latest quarter 52.5% — 114.7% 21.7% 67.7% −28.5% 20.1%
Gross margin 57.7% 23.2% 67.1% 31.7% 27.7% 45.8% 48.3%
Operating margin 6.9% 12.4% 31.7% 4.8% 4.0% 4.2% 4.8%
Operating margin, 3-year average 4.8% 13.1% 11.1% 4.9% 3.3% 5.9% 4.8%
Net margin −2.0% 14.1% 33.8% 5.3% 10.4% 7.5% 5.3%
Cash from operations / revenue 7.5% 25.3% 31.4% 15.3% −8.8% 15.8% 17.4%
Free-cash-flow margin 5.5% −3.1% 27.6% 8.7% −9.4% 11.2% 9.6%
Free-cash-flow margin, 3-year average 7.0% 5.3% 12.0% 6.0% 0.9% 17.5% 8.5%
Stock pay / revenue 3.6% 2.4% 14.8% 2.0% 1.8% 15.6% 5.8%
Change in share count 1.7% 1.1% 2.5% −0.2% 4.8% −2.8% 0.9%

Median of all 75 companies we cover in semiconductors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 semiconductor companies
Measure Company Peer median Rank
Revenue growth Growth 40.0% 13.7% 12 of 75
Change in growth rate Growth +9.4pp +3.7pp 18 of 75
Gross margin Profitability 57.7% 48.3% 22 of 73
Operating margin Profitability 6.9% 4.8% 36 of 75
Net margin Profitability -2.0% 5.3% 45 of 75
Free-cash-flow margin Cash generation 5.5% 9.6% 43 of 75
Stock pay as % of revenue Cash generation 3.6% 6.4% 28 of 74
Long-term debt as % of assets Balance sheet 33.1% 14.0% 38 of 47
Change in share count Balance sheet 1.7% 0.9% 44 of 72
Days sales outstanding Balance sheet 84 days 58 days 51 of 62

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to June 27, 2026
Products and services
Line of business Revenue Share YoY
Products $1.3B 87.2% ▲ 45.2%
Services $194M 12.8% ▲ 12.4%
Geography
Region Revenue YoY
Americas $683M ▲ 60.6%
United States $578M ▲ 62.3%
Asia Pacific $470M ▲ 23.8%
EMEA $365M ▲ 30.7%
China $259M ▲ 20.3%
Other Asia Pacific $211M ▲ 28.3%
Other Americas $105M ▲ 51.9%

These categories overlap or exclude eliminations, so shares aren't shown.

From Viavi Solutions Inc.'s 10-K filed August 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$11.4B
Institutions reporting
563
Shares held vs prior quarter
▲ 4.0%
Positions opened / closed
157 / 58

Top buyers and sellers, Q2 2026: 338 institutions bought and 236 sold ; the biggest buyer was Jane Street Group, LLC (+9.1M shares) and the biggest seller Blackrock, Inc (−9.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.2B 25.7M 10.8% ▼ 27.0%
Vanguard Portfolio Management LLC $650M 13.6M 5.7% ▼ 23.2%
Price T Rowe Associates Inc $532M 11.1M 4.7% ▲ 9.3%
Vanguard Capital Management LLC $521M 10.9M 4.6% ▲ 5.3%
Jane Street Group, LLC $444M 9.3M 3.9% ▲ 3928.9%
Capital World Investors $437M 9.2M 3.8% ▼ 20.9%
State Street Corp $371M 7.8M 3.3% ▼ 16.1%
Whale Rock Capital Management LLC $328M 6.9M 2.9% ▲ 98.0%
Geode Capital Management, LLC $272M 5.7M 2.4% ▼ 9.7%
Two Sigma Investments, LP $267M 5.6M 2.3% ▲ 219.3%
Invesco Ltd. $266M 5.6M 2.3% ▼ 28.9%
Millennium Management LLC $252M 5.3M 2.2% ▲ 136.6%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Viavi Solutions Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $61.8M 65 trades by 14 insiders · 4% under pre-set plans
Net ▼ $61.8M net selling
Insider Date Trade Shares Price Value
Scrivanich Luke M SVP General Manager OSP September 23, 2026 Sell pre-set plan 35,866 $36.24 $1.3M
Mcnab Paul EVP, Chief Mktg & Stgy Officer September 11, 2026 Sell 3,523 $38.98 $137,327
Mcnab Paul EVP, Chief Mktg & Stgy Officer September 11, 2026 Sell 7,509 $38.96 $292,551
Daskal Ilan EVP, CFO August 31, 2026 Sell 26,033 $36.29 $944,738
Daskal Ilan EVP, CFO August 31, 2026 Sell 30,257 $36.29 $1.1M
Scrivanich Luke M SVP General Manager OSP August 31, 2026 Sell pre-set plan 23,911 $36.37 $869,643
Black Laura A. Director August 17, 2026 Sell 71,000 $46.12 $3.3M
Solomon Joanne Director August 14, 2026 Sell 10,000 $42.92 $429,200
Mcnab Paul EVP, Chief Mktg & Stgy Officer August 10, 2026 Sell 1,595 $37.37 $59,605
Khaykin Oleg President & CEO May 8, 2026 Sell 136,547 $51.82 $7.1M
Khaykin Oleg President & CEO May 7, 2026 Sell 123,333 $51.43 $6.3M
Scrivanich Luke M SVP General Manager OSP May 6, 2026 Sell 3,435 $53.00 $182,055

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 15 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 5 sales of Viavi Solutions Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded July 21, 2026, filed September 4, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded May 4, 2026, filed June 8, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (partial), $1,001 - $15,000, traded March 27, 2026, filed April 7, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 4, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • April 29, 2026
  • January 28, 2026
  • October 29, 2025
  • August 7, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Viavi Solutions Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Viavi Solutions Inc. in brief

What does Viavi Solutions Inc. do?
Viavi Solutions Inc. is a US-listed company in the semiconductors industry. Its financial year ends in June.
What is Viavi Solutions Inc.'s stock ticker?
Viavi Solutions Inc. trades under the ticker VIAV on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Viavi Solutions Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Viavi Solutions Inc. reported revenue of $1.5B, 40.0% higher than a year earlier, according to its SEC filings.
What is Viavi Solutions Inc.'s free cash flow?
Viavi Solutions Inc.'s free-cash-flow margin is 5.5% of revenue over the trailing twelve months, ranking 43 of the 75 semiconductor companies we cover.
Who are Viavi Solutions Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Price T Rowe Associates Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Viavi Solutions Inc. buying back stock, and does it pay a dividend?
Viavi Solutions Inc. spent $30M on share repurchases over the trailing twelve months, and its diluted share count still rose 1.7% over the year.
What is Viavi Solutions Inc.'s market cap?
On June 26, 2026, Viavi Solutions Inc.'s market capitalisation was about $10.9B and net debt of -$5.9M. Market figures come from third-party market data and may be delayed.
Who are Viavi Solutions Inc.'s competitors?
In our Semiconductors peer group, the companies closest to Viavi Solutions Inc. are Tower Semiconductor LTD, Credo Technology Group Holding Ltd, Diodes Inc, Penguin Solutions, Inc. and Enphase Energy, Inc. The side-by-side comparison below sets their revenue, margins and growth against Viavi Solutions Inc.'s.
Are insiders buying or selling Viavi Solutions Inc. stock?
Over the last 12 months, Viavi Solutions Inc.'s directors and officers reported 0 open-market purchases and 65 sales on Form 4. The insider trading page charts every trade.
When is Viavi Solutions Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Viavi Solutions Inc. announces its own schedule.