Viavi Solutions Inc. (VIAV) Financial Ratios
30 years of historical data (1996–2025) · Technology · Communication Equipment
EV/EBITDA
↑
95.48
↑+475% vs avg
5yr avg: 16.62
30Y Low8.1·High78.5
P/FCF
↑
201.42
↑+599% vs avg
5yr avg: 28.81
30Y Low9.9·High99.0
P/B Ratio
↓
15.61
↑+313% vs avg
5yr avg: 3.78
30Y Low0.7·High5.7
ROE
↓
4.8%
↓+48% vs avg
5yr avg: 3.2%
30Y Low-316%·High23%
Debt/EBITDA
↑
5.18
+15% vs avg
5yr avg: 4.51
30Y Low0.1·High22.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
VIAV Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Viavi Solutions Inc. trades at 359.8x earnings, 234% above its 5-year average of 107.7x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 26.7x, the stock trades at a premium of 1246%. On a free-cash-flow basis, the stock trades at 201.4x P/FCF, 599% above the 5-year average of 28.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.5B | $2.3B | $1.5B | $2.6B | $3.1B | $4.1B | $2.9B | $3.1B | $2.3B | $2.5B | $1.6B |
| Enterprise Value | $12.8B | $2.5B | $1.7B | $2.8B | $3.3B | $4.2B | $3.0B | $3.1B | $2.5B | $2.4B | $1.7B |
| P/E Ratio → | 359.80 | 66.67 | — | 103.00 | 201.08 | 60.24 | 104.17 | 394.36 | — | 14.83 | — |
| P/S Ratio | 11.52 | 2.08 | 1.53 | 2.32 | 2.41 | 3.44 | 2.57 | 2.72 | 2.66 | 3.04 | 1.71 |
| P/B Ratio | 15.61 | 2.89 | 2.24 | 3.72 | 4.64 | 5.40 | 4.11 | 4.23 | 3.23 | 3.14 | 2.25 |
| P/FCF | 201.42 | 36.40 | 15.78 | 40.75 | 29.53 | 21.59 | 28.17 | 32.76 | 98.96 | 59.64 | 89.16 |
| P/OCF | 139.07 | 25.13 | 13.14 | 22.50 | 17.51 | 16.97 | 21.54 | 22.14 | 35.23 | 30.87 | 29.33 |
P/E links to full P/E history page with 30-year chart
VIAV EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Viavi Solutions Inc.'s enterprise value stands at 95.5x EBITDA, 475% above its 5-year average of 16.6x. The Technology sector median is 17.5x, placing the stock at a 447% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.33 | 1.74 | 2.57 | 2.56 | 3.48 | 2.67 | 2.77 | 2.91 | 2.95 | 1.83 |
| EV / EBITDA | 95.48 | 18.90 | 17.16 | 16.86 | 12.67 | 17.50 | 15.35 | 16.55 | 27.21 | 25.79 | 18.91 |
| EV / EBIT | 179.93 | 35.62 | 41.06 | 32.37 | 37.36 | 28.66 | 23.79 | 42.53 | 219.60 | 10.43 | — |
| EV / FCF | — | 40.74 | 18.01 | 45.11 | 31.27 | 21.81 | 29.30 | 33.37 | 108.40 | 57.88 | 95.22 |
VIAV Profitability
Margins and return-on-capital ratios measuring operating efficiency
Viavi Solutions Inc. earns an operating margin of 6.5%. Operating margins have compressed from 9.0% to 6.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 4.8% is modest. ROIC of 5.5% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.8% | 56.8% | 56.9% | 57.0% | 59.1% | 56.8% | 55.5% | 54.3% | 53.4% | 58.2% | 59.0% |
| Operating Margin | 6.5% | 6.5% | 4.3% | 9.0% | 14.3% | 11.3% | 7.9% | 6.8% | 1.2% | 4.3% | 1.9% |
| Net Profit Margin | 3.2% | 3.2% | -2.6% | 2.3% | 1.2% | 5.6% | 2.5% | 0.5% | -5.5% | 20.6% | -10.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.8% | 4.8% | -3.8% | 3.7% | 2.2% | 9.2% | 4.0% | 0.7% | -6.4% | 22.6% | -11.1% |
| ROA | 1.9% | 1.9% | -1.4% | 1.4% | 0.8% | 3.6% | 1.6% | 0.3% | -2.4% | 8.8% | -5.1% |
| ROIC | 5.5% | 5.5% | 3.5% | 8.2% | 16.7% | 12.5% | 8.4% | 6.7% | 0.9% | 3.5% | 1.3% |
| ROCE | 4.9% | 4.9% | 2.9% | 6.7% | 13.9% | 9.9% | 5.9% | 5.1% | 0.6% | 2.1% | 1.1% |
VIAV Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Viavi Solutions Inc. carries a Debt/EBITDA ratio of 5.2x, which is highly leveraged (79% above the sector average of 2.9x). Net debt stands at $269M ($692M total debt minus $424M cash). Interest coverage of just 2.4x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.89 | 0.89 | 1.01 | 1.13 | 1.11 | 0.97 | 0.93 | 0.80 | 1.16 | 1.18 | 0.85 |
| Debt / EBITDA | 5.18 | 5.18 | 6.76 | 4.63 | 2.86 | 3.10 | 3.33 | 3.06 | 8.90 | 10.03 | 6.72 |
| Net Debt / Equity | — | 0.34 | 0.32 | 0.40 | 0.27 | 0.05 | 0.16 | 0.08 | 0.31 | -0.09 | 0.15 |
| Net Debt / EBITDA | 2.01 | 2.01 | 2.12 | 1.63 | 0.71 | 0.17 | 0.59 | 0.30 | 2.37 | -0.79 | 1.20 |
| Debt / FCF | — | 4.33 | 2.23 | 4.36 | 1.75 | 0.22 | 1.13 | 0.61 | 9.44 | -1.76 | 6.06 |
| Interest Coverage | 2.36 | 2.36 | 1.38 | 3.24 | 3.79 | 9.90 | 3.79 | 2.15 | 0.25 | 5.32 | -0.29 |
VIAV Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.50x means Viavi Solutions Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 2.75x to 1.50x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.50 | 1.50 | 3.55 | 2.75 | 2.72 | 1.49 | 3.92 | 3.23 | 2.05 | 7.29 | 5.35 |
| Quick Ratio | 1.30 | 1.30 | 3.16 | 2.41 | 2.42 | 1.36 | 3.57 | 2.87 | 1.89 | 7.08 | 5.13 |
| Cash Ratio | 0.72 | 0.72 | 1.99 | 1.52 | 1.52 | 0.94 | 2.34 | 1.84 | 1.39 | 6.28 | 4.27 |
| Asset Turnover | — | 0.54 | 0.58 | 0.60 | 0.71 | 0.61 | 0.64 | 0.62 | 0.43 | 0.38 | 0.54 |
| Inventory Turnover | 3.97 | 3.97 | 4.46 | 4.10 | 4.80 | 5.46 | 6.08 | 5.03 | 4.42 | 7.07 | 7.22 |
| Days Sales Outstanding | — | 98.70 | 89.35 | 87.08 | 80.72 | 83.91 | 83.74 | 76.76 | 91.11 | 54.16 | 59.77 |
VIAV Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Viavi Solutions Inc. returns 0.1% to shareholders annually primarily through share buybacks. The earnings yield of 0.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.3% | 1.5% | — | 1.0% | 0.5% | 1.7% | 1.0% | 0.3% | — | 6.7% | — |
| FCF Yield | 0.5% | 2.7% | 6.3% | 2.5% | 3.4% | 4.6% | 3.5% | 3.1% | 1.0% | 1.7% | 1.1% |
| Buyback Yield | 0.1% | 0.7% | 1.3% | 3.3% | 7.6% | 1.0% | 1.5% | 0.4% | 1.8% | 3.7% | 2.9% |
| Total Shareholder Yield | 0.1% | 0.7% | 1.3% | 3.3% | 7.6% | 1.0% | 1.5% | 0.4% | 1.8% | 3.7% | 2.9% |
| Shares Outstanding | — | $226M | $223M | $227M | $238M | $236M | $234M | $231M | $227M | $235M | $234M |
Peer Comparison
Compare VIAV with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 VIAVYou | $12B | 359.8 | 95.5 | 201.4 | 56.8% | 6.5% | 4.8% | 5.5% | 5.2 |
 KEYS | $61B | 72.9 | 50.8 | 47.7 | 62.1% | 17.6% | 15.4% | 11.5% | 2.4 |
 LITE | $71B | 2688.0 | 954.3 | — | 28.0% | -10.9% | 2.5% | -4.3% | 34.0 |
 CIEN | $77B | 640.9 | 171.9 | 115.8 | 41.5% | 6.5% | 4.4% | 6.9% | 3.5 |
 NTCT | $3B | -7.1 | — | 12.2 | 78.3% | -44.7% | -21.3% | -19.3% | — |
 CSCO | $373B | 37.0 | 26.9 | 28.1 | 64.9% | 20.8% | 22.1% | 13.0% | 2.0 |
 ADTN | $1B | -26.8 | 18.0 | 12.6 | 38.3% | -1.4% | -8.5% | -1.7% | 3.2 |
 CALX | $3B | 176.2 | 73.5 | 25.6 | 56.8% | 2.1% | 2.2% | 2.1% | 0.7 |
 COHR | $63B | -645.6 | 59.8 | 326.5 | 35.4% | 9.4% | 0.6% | 3.6% | 3.5 |
 IPGP | $4B | 124.4 | 43.2 | — | 38.0% | 1.3% | 1.5% | 0.6% | — |
 FORM | $11B | 210.1 | 101.2 | 962.8 | 39.1% | 8.2% | 5.5% | 5.4% | 0.4 |
| Technology Median | — | 26.7 | 17.5 | 19.5 | 48.9% | -0.6% | 2.5% | 3.0% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonVIAV — Frequently Asked Questions
Quick answers to the most common questions about buying VIAV stock.
What is Viavi Solutions Inc.'s P/E ratio?
Viavi Solutions Inc.'s current P/E ratio is 359.8x. The historical average is 59.6x. This places it at the 100th percentile of its historical range.
What is Viavi Solutions Inc.'s EV/EBITDA?
Viavi Solutions Inc.'s current EV/EBITDA is 95.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.9x.
What is Viavi Solutions Inc.'s ROE?
Viavi Solutions Inc.'s return on equity (ROE) is 4.8%. The historical average is -20.5%.
Is VIAV stock overvalued?
Based on historical data, Viavi Solutions Inc. is trading at a P/E of 359.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Viavi Solutions Inc.'s profit margins?
Viavi Solutions Inc. has 56.8% gross margin and 6.5% operating margin.
How much debt does Viavi Solutions Inc. have?
Viavi Solutions Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.