Loading...

We've got a brand new version of Simply Wall St! Try it out

Viavi Solutions

Nasdaq:VIAV
Snowflake Description

Reasonable growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VIAV
Nasdaq
$4B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Viavi Solutions Inc. provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The last earnings update was 5 days ago. More info.


Add to Portfolio Compare Print
VIAV Share Price and Events
7 Day Returns
-1.4%
NasdaqGS:VIAV
4.7%
US Communications
0.9%
US Market
1 Year Returns
42.3%
NasdaqGS:VIAV
1.1%
US Communications
10.5%
US Market
VIAV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Viavi Solutions (VIAV) -1.4% 10.4% 12.6% 42.3% 103.6% 21.7%
US Communications 4.7% 5.9% -3.8% 1.1% 42.8% 65.8%
US Market 0.9% 5.2% 5.4% 10.5% 40.1% 45%
1 Year Return vs Industry and Market
  • VIAV outperformed the Communications industry which returned 1.1% over the past year.
  • VIAV outperformed the Market in United States of America which returned 10.5% over the past year.
Price Volatility
VIAV
Industry
5yr Volatility vs Market

VIAV Value

 Is Viavi Solutions undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Viavi Solutions to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Viavi Solutions.

NasdaqGS:VIAV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:VIAV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.131 (1 + (1- 21%) (17.45%))
1.192
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.19
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.192 * 5.96%)
9.84%

Discounted Cash Flow Calculation for NasdaqGS:VIAV using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Viavi Solutions is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGS:VIAV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.84%)
2020 138.07 Analyst x3 125.70
2021 138.90 Analyst x3 115.14
2022 137.70 Analyst x2 103.92
2023 138.06 Est @ 0.26% 94.86
2024 139.44 Est @ 1% 87.23
2025 141.56 Est @ 1.52% 80.62
2026 144.22 Est @ 1.88% 74.79
2027 147.31 Est @ 2.14% 69.54
2028 150.72 Est @ 2.31% 64.78
2029 154.39 Est @ 2.44% 60.42
Present value of next 10 years cash flows $876.00
NasdaqGS:VIAV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $154.39 × (1 + 2.73%) ÷ (9.84% – 2.73%)
$2,231.91
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,231.91 ÷ (1 + 9.84%)10
$873.41
NasdaqGS:VIAV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $876.00 + $873.41
$1,749.41
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,749.41 / 229.79
$7.61
NasdaqGS:VIAV Discount to Share Price
Calculation Result
Value per share (USD) From above. $7.61
Current discount Discount to share price of $15.88
= -1 x ($15.88 - $7.61) / $7.61
-108.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Viavi Solutions is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Viavi Solutions's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Viavi Solutions's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:VIAV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-28) in USD $0.13
NasdaqGS:VIAV Share Price ** NasdaqGS (2019-11-08) in USD $15.88
United States of America Communications Industry PE Ratio Median Figure of 30 Publicly-Listed Communications Companies 24.34x
United States of America Market PE Ratio Median Figure of 2,915 Publicly-Listed Companies 18.21x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Viavi Solutions.

NasdaqGS:VIAV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:VIAV Share Price ÷ EPS (both in USD)

= 15.88 ÷ 0.13

121.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Viavi Solutions is overvalued based on earnings compared to the US Communications industry average.
  • Viavi Solutions is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Viavi Solutions's expected growth come at a high price?
Raw Data
NasdaqGS:VIAV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 121.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
31.1%per year
United States of America Communications Industry PEG Ratio Median Figure of 19 Publicly-Listed Communications Companies 1.44x
United States of America Market PEG Ratio Median Figure of 2,014 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

NasdaqGS:VIAV PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 121.44x ÷ 31.1%

3.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Viavi Solutions is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Viavi Solutions's assets?
Raw Data
NasdaqGS:VIAV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-28) in USD $3.08
NasdaqGS:VIAV Share Price * NasdaqGS (2019-11-08) in USD $15.88
United States of America Communications Industry PB Ratio Median Figure of 61 Publicly-Listed Communications Companies 1.85x
United States of America Market PB Ratio Median Figure of 5,041 Publicly-Listed Companies 1.74x
NasdaqGS:VIAV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:VIAV Share Price ÷ Book Value per Share (both in USD)

= 15.88 ÷ 3.08

5.16x

* Primary Listing of Viavi Solutions.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Viavi Solutions is overvalued based on assets compared to the US Communications industry average.
X
Value checks
We assess Viavi Solutions's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check)
  5. Viavi Solutions has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VIAV Future Performance

 How is Viavi Solutions expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
31.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Viavi Solutions expected to grow at an attractive rate?
  • Viavi Solutions's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Viavi Solutions's earnings growth is expected to exceed the United States of America market average.
  • Viavi Solutions's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:VIAV Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:VIAV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 31.1%
NasdaqGS:VIAV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 3.5%
United States of America Communications Industry Earnings Growth Rate Market Cap Weighted Average 12%
United States of America Communications Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:VIAV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:VIAV Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 1,260 191 64 4
2021-06-30 1,222 164 56 11
2020-06-30 1,174 171 34 11
2019-11-10
NasdaqGS:VIAV Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-09-28 1,162 143 30
2019-06-29 1,130 139 8
2019-03-30 1,106 128 -31
2018-12-29 1,060 100 -37
2018-09-29 953 83 -56
2018-06-30 876 66 -49
2018-03-31 813 85 -7
2017-12-30 790 93 29
2017-09-30 792 90 80
2017-07-01 805 94 159
2017-04-01 837 76 89
2016-12-31 862 91 92
2016-10-01 887 68 43

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Viavi Solutions's earnings are expected to grow significantly at over 20% yearly.
  • Viavi Solutions's revenue is expected to grow by 3.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:VIAV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Viavi Solutions Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VIAV Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.28 0.28 0.28 1.00
2021-06-30 0.24 0.30 0.18 2.00
2020-06-30 0.15 0.21 0.08 2.00
2019-11-10
NasdaqGS:VIAV Past Financials Data
Date (Data in USD Millions) EPS *
2019-09-28 0.13
2019-06-29 0.03
2019-03-30 -0.14
2018-12-29 -0.16
2018-09-29 -0.25
2018-06-30 -0.21
2018-03-31 -0.03
2017-12-30 0.13
2017-09-30 0.35
2017-07-01 0.69
2017-04-01 0.38
2016-12-31 0.39
2016-10-01 0.19

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Viavi Solutions is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Viavi Solutions's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Viavi Solutions has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VIAV Past Performance

  How has Viavi Solutions performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Viavi Solutions's growth in the last year to its industry (Communications).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Viavi Solutions has delivered over 20% year on year earnings growth in the past 5 years.
  • Viavi Solutions has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Viavi Solutions has become profitable in the last year making it difficult to compare the US Communications industry average.
Earnings and Revenue History
Viavi Solutions's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Viavi Solutions Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:VIAV Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-28 1,161.60 29.90 344.70 195.90
2019-06-29 1,130.30 7.80 337.60 187.00
2019-03-30 1,106.00 -31.30 334.90 179.40
2018-12-29 1,059.50 -37.20 334.10 162.80
2018-09-29 953.30 -56.30 336.00 146.80
2018-06-30 875.70 -48.60 323.90 133.30
2018-03-31 813.10 -7.30 305.50 121.30
2017-12-30 790.40 29.40 295.70 123.30
2017-09-30 791.50 79.70 295.90 129.30
2017-07-01 805.00 158.60 300.10 136.30
2017-04-01 837.40 88.70 304.90 146.50
2016-12-31 861.80 91.50 309.30 152.40
2016-10-01 887.40 43.30 318.20 158.20
2016-07-02 906.30 -50.40 337.70 166.40
2016-04-02 902.00 -18.00 342.60 169.70
2016-01-02 894.00 -82.60 357.50 169.90
2015-10-03 888.30 -121.30 367.80 172.40
2015-06-27 873.90 -131.40 376.30 169.70
2015-03-28 1,102.70 -124.70 406.10 206.00
2014-12-27 1,308.30 -90.40 424.00 239.90
2014-09-27 1,529.50 -43.90 436.90 268.00
2014-06-28 926.90 -74.60 384.80 161.80
2014-03-29 1,715.90 99.10 439.60 283.60
2013-12-28 1,703.20 72.60 434.80 275.30
2013-09-28 1,685.00 67.10 429.90 266.50
2013-06-29 1,676.90 57.00 427.50 258.50
2013-03-30 1,689.60 -33.10 424.30 254.70
2012-12-29 1,687.60 -21.30 420.50 250.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Viavi Solutions has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Viavi Solutions used its assets less efficiently than the US Communications industry average last year based on Return on Assets.
  • Viavi Solutions has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Viavi Solutions's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Communications industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Viavi Solutions has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VIAV Health

 How is Viavi Solutions's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Viavi Solutions's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Viavi Solutions is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Viavi Solutions's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Viavi Solutions's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Viavi Solutions Company Filings, last reported 1 month ago.

NasdaqGS:VIAV Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-28 708.10 584.30 526.80
2019-06-29 725.80 578.80 523.00
2019-03-30 728.30 573.50 529.80
2018-12-29 710.10 568.40 495.60
2018-09-29 709.60 705.80 652.40
2018-06-30 734.90 833.20 780.70
2018-03-31 758.60 786.00 730.50
2017-12-30 753.40 799.00 1,205.40
2017-09-30 766.30 802.10 1,223.60
2017-07-01 786.40 931.40 1,436.60
2017-04-01 771.20 958.10 1,442.80
2016-12-31 709.40 598.30 1,003.70
2016-10-01 754.80 590.80 1,033.10
2016-07-02 689.30 583.30 967.60
2016-04-02 834.40 581.50 992.90
2016-01-02 776.60 574.80 914.50
2015-10-03 744.20 568.20 891.90
2015-06-27 1,101.40 561.60 799.40
2015-03-28 1,119.10 555.20 788.90
2014-12-27 1,137.80 548.80 838.70
2014-09-27 1,167.50 542.50 848.80
2014-06-28 1,187.70 536.30 849.40
2014-03-29 1,261.30 530.20 894.80
2013-12-28 1,242.90 524.20 1,065.40
2013-09-28 1,220.30 520.20 1,057.10
2013-06-29 1,161.30 0.00 486.20
2013-03-30 1,055.10 161.50 608.10
2012-12-29 1,065.20 207.50 709.30
  • Viavi Solutions's level of debt (82.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (46.4% vs 82.5% today).
  • Debt is well covered by operating cash flow (24.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
X
Financial health checks
We assess Viavi Solutions's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Viavi Solutions has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VIAV Dividends

 What is Viavi Solutions's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Viavi Solutions dividends.
If you bought $2,000 of Viavi Solutions shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Viavi Solutions's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Viavi Solutions's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:VIAV Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America Communications Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1944 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:VIAV Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-06-30
2021-06-30
2020-06-30
2019-11-10

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Viavi Solutions has not reported any payouts.
  • Unable to verify if Viavi Solutions's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Viavi Solutions's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Viavi Solutions has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Viavi Solutions's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Viavi Solutions afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Viavi Solutions has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VIAV Management

 What is the CEO of Viavi Solutions's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Oleg Khaykin
COMPENSATION $6,942,078
AGE 54
TENURE AS CEO 3.8 years
CEO Bio

Mr. Oleg Khaykin has been the Chief Executive Officer and President of Viavi Solutions Inc. since February 3, 2016. He joined Viavi in February 2016. Mr. Khaykin served as Senior Advisor of Silver Lake/Silver Lake Partners since February 2015 until February 2016. He served as the Chief Executive Officer and President of International Rectifier Corporation from March 1, 2008 to January 2015. He served as Chief Executive Officer, President and Executive Director at Infineon Technologies Americas Corp. since March 1, 2008. During his tenure from 2008 to 2015, he successfully transformed the International Rectifier into the world leader in power semiconductors. He served as the Chief Operating Officer of Amkor Technology, Inc., from January 10, 2006 to February 2008. He was responsible for Sales & Marketing, Product Development & Management and Worldwide Flip Chip & Wafer Level Processing Operations of Amkor Technology Inc. He served as an Executive Vice President of Amkor Technology, Inc. since January 10, 2006 and Executive Vice President of Strategy, Flip Operations and Business Development/Corporate Development from joining on May 12, 2003 to January 10, 2006. From May 1999 to May 2003, Mr. Khaykin served as Vice President of Strategy and Business Development for Conexant Systems Inc. He was with the Boston Consulting Group from July 1991 to June 1999, where he worked with leading European and American companies in the telecom, high tech, biotechnology and aerospace industries. He spent five years as an engineer with Motorola. He has been Director of Avnet, Incorporated since 2018. He has been a Director of Marvell Technology Group Ltd. since May 1, 2016; Avnet Inc. since May 23, 2018; Viavi Solutions Inc. since February 2016 and served as Director of Newport Corp. since September 9, 2010 until April 2016. He serves as a Back-end Director of Fabless Semiconductor Association. He serves as a Director of Marvell Semiconductors. He serves as a Member of Advisory board of Quartics, Inc. He served as the Director of International Rectifier Corporation from March 1, 2008 to February 2015. He served as Director of Zarlink Semiconductor Inc., from November 12, 2007 to 2011. Mr. Khaykin holds an MBA from Northwestern University J.L. Kellogg Graduate School of Management and studied B.S. in Electrical and Computer Engineering with the Highest University Honors from Carnegie Mellon University.

CEO Compensation
  • Oleg's compensation has increased in line with Viavi Solutions recently becoming profitable.
  • Oleg's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Viavi Solutions management team in years:

4.2
Average Tenure
54
Average Age
  • The tenure for the Viavi Solutions management team is about average.
Management Team

Oleg Khaykin

TITLE
President
COMPENSATION
$7M
AGE
54
TENURE
3.8 yrs

Amar Maletira

TITLE
Executive VP & CFO
COMPENSATION
$3M
AGE
50
TENURE
4.2 yrs

Paul McNab

TITLE
Executive VP and Chief Marketing & Strategy Officer
COMPENSATION
$1M
AGE
56
TENURE
5.2 yrs

Gary Staley

TITLE
Senior Vice President of Global Sales
COMPENSATION
$1M
AGE
52

Luke Scrivanich

TITLE
Senior VP and GM of Optical Security & Performance Products
COMPENSATION
$2M
AGE
57
TENURE
7.3 yrs

Ralph Rondinone

TITLE
Senior Vice President of Global Operations & Services and Network & Service Enablement
COMPENSATION
$989K
AGE
57

Bill Ong

TITLE
Senior Director of Finance & IR

Kevin Siebert

TITLE
Senior VP
AGE
50
TENURE
4.7 yrs

Petra Nagel

TITLE
Senior Vice President of Human Resources
TENURE
3.8 yrs

Michael Seidl

TITLE
Senior Vice President of Business Management
TENURE
3.6 yrs
Board of Directors Tenure

Average tenure and age of the Viavi Solutions board of directors in years:

4.8
Average Tenure
63.5
Average Age
  • The tenure for the Viavi Solutions board of directors is about average.
Board of Directors

Rick Belluzzo

TITLE
Independent Chairman
COMPENSATION
$338K
AGE
65
TENURE
7 yrs

Oleg Khaykin

TITLE
President
COMPENSATION
$7M
AGE
54
TENURE
3.8 yrs

Masood Jabbar

TITLE
Independent Director
COMPENSATION
$268K
AGE
69
TENURE
13.7 yrs

Keith Barnes

TITLE
Independent Director
COMPENSATION
$281K
AGE
68
TENURE
8.1 yrs

Donald Colvin

TITLE
Independent Director
COMPENSATION
$276K
AGE
66
TENURE
4.1 yrs

Tim Campos

TITLE
Independent Director
COMPENSATION
$256K
AGE
46
TENURE
5.6 yrs

Tor Braham

TITLE
Independent Director
COMPENSATION
$246K
AGE
62
TENURE
4.1 yrs

Laura Black

TITLE
Independent Director
COMPENSATION
$246K
AGE
58
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • Viavi Solutions individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Nov 19 Sell Amar Maletira Individual 06. Nov 19 08. Nov 19 -145,150 $15.89 $-2,302,563
05. Nov 19 Sell Amar Maletira Individual 04. Nov 19 05. Nov 19 -57,700 $16.10 $-923,701
31. Oct 19 Sell Timothy Campos Individual 30. Oct 19 30. Oct 19 -11,500 $14.74 $-169,507
05. Sep 19 Sell Ralph Rondinone Individual 05. Sep 19 05. Sep 19 -3,200 $14.19 $-45,408
04. Sep 19 Sell Luke Scrivanich Individual 30. Aug 19 30. Aug 19 -7,398 $13.91 $-102,906
11. Jun 19 Sell Amar Maletira Individual 10. Jun 19 10. Jun 19 -2,500 $13.31 $-33,275
22. Feb 19 Sell Luke Scrivanich Individual 22. Feb 19 22. Feb 19 -4,810 $13.29 $-63,944
X
Management checks
We assess Viavi Solutions's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Viavi Solutions has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VIAV News

Simply Wall St News

Why Viavi Solutions Inc.’s (NASDAQ:VIAV) Return On Capital Employed Looks Uninspiring

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Viavi Solutions: 0.054 = US$83m ÷ (US$1.8b - US$284m) (Based on the trailing twelve months to June 2019.) Therefore, Viavi Solutions has an ROCE of 5.4%. … Viavi Solutions's Current Liabilities And Their Impact On Its ROCE Current liabilities include invoices, such as supplier payments, short-term debt, or a tax bill, that need to be paid within 12 months. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

Here's Why Viavi Solutions (NASDAQ:VIAV) Can Manage Its Debt Responsibly

NasdaqGS:VIAV Historical Debt, July 16th 2019 How Healthy Is Viavi Solutions's Balance Sheet? … Since Viavi Solutions does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time. … Our View Viavi Solutions's conversion of EBIT to free cash flow suggests it can handle its debt as easily as Cristiano Ronaldo could score a goal against an under 14's goalkeeper.

Simply Wall St -

Have Insiders Been Selling Viavi Solutions Inc. (NASDAQ:VIAV) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Viavi Solutions Inc. … Insiders in Viavi Solutions didn't buy any shares in the last year. … NasdaqGS:VIAV Recent Insider Trading, July 1st 2019 Insiders at Viavi Solutions Have Sold Stock Recently We have seen a bit of insider selling at Viavi Solutions, over the last three months.

Simply Wall St -

Calculating The Intrinsic Value Of Viavi Solutions Inc. (NASDAQ:VIAV)

Using the most recent financial data, we'll take a look at whether the stock is fairly priced by taking the expected future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $144.65 $153.45 $180.70 $202.82 $221.87 $238.27 $252.55 $265.21 $276.69 $287.34 Growth Rate Estimate Source Analyst x2 Analyst x2 Analyst x1 Est @ 12.24% Est @ 9.39% Est @ 7.39% Est @ 5.99% Est @ 5.01% Est @ 4.33% Est @ 3.85% Present Value ($, Millions) Discounted @ 9.77% $131.77 $127.35 $136.62 $139.69 $139.21 $136.19 $131.51 $125.81 $119.57 $113.12 Present Value of 10-year Cash Flow (PVCF)= $1.30b "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … NasdaqGS:VIAV Intrinsic value, June 10th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

What Is Viavi Solutions Inc.'s (NASDAQ:VIAV) Share Price Doing?

It’s trading around 6.4% below my intrinsic value, which means if you buy Viavi Solutions today, you’d be paying a reasonable price for it. … And if you believe the company’s true value is $13, then there isn’t much room for the share price grow beyond what it’s currently trading. … Given that Viavi Solutions’s share is fairly volatile (i.e. its price movements are magnified relative to the rest of the market) this could mean the price can sink lower, giving us an opportunity to buy later on.

Simply Wall St -

The Viavi Solutions (NASDAQ:VIAV) Share Price Is Up 103% And Shareholders Are Boasting About It

Viavi Solutions isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth. … In the last 3 years Viavi Solutions saw its revenue grow at 1.9% per year.

Simply Wall St -

Before You Buy Viavi Solutions Inc. (NASDAQ:VIAV), Consider Its Volatility

(NASDAQ:VIAV) then it's worth thinking about how it contributes to the volatility of your portfolio, overall. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

Should You Be Worried About Insider Transactions At Viavi Solutions Inc. (NASDAQ:VIAV)?

So shareholders might well want to know whether insiders have been buying or selling shares in Viavi Solutions Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was selling shares at around the current price of US$12.90.

Simply Wall St -

How Should Investors React To Viavi Solutions Inc.'s (NASDAQ:VIAV) CEO Pay?

Oleg Khaykin has been the CEO of Viavi Solutions Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Oleg Khaykin's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Investors Should Know About Viavi Solutions Inc's (NASDAQ:VIAV) Financial Strength

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Viavi Solutions Inc (NASDAQ:VIAV), with a market cap of US$2.4b, are often out of the spotlight. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further. … Check out our latest analysis for Viavi Solutions

Simply Wall St -

VIAV Company Info

Description

Viavi Solutions Inc. provides network test, monitoring, and assurance solutions to communications service providers, enterprises, network equipment manufacturers, civil government, military, and avionics customers worldwide. The company operates through three segments: Network Enablement (NE), Service Enablement (SE), and Optical Security and Performance Products (OSP) segments. The NE segment offers testing solutions that access the network to perform build-out and maintenance tasks. This segment provides solutions that include instruments, software, and services to design, build, activate, certify, troubleshoot, and optimize networks; and instrumentation for communication and safety. It also offers support and professional services, such as repair, calibration, software support, and technical assistance for the products; and system integration projects, including project management, installation, and implementation, as well as product and technology training, and consulting services. The SE segment provides embedded systems and enterprise performance management solutions for communication service providers, enterprises, and cloud operators with visibility into network, service, and application data. Its solutions include instruments, microprobes, and software, which monitor, collect, and analyze network data to reveal the actual customer experience and to identify opportunities for new revenue streams and network optimization. The OSP segment offers optical products for anti-counterfeiting, government, industrial, automotive, and consumer electronic markets, including 3D sensing applications. The company was formerly known as JDS Uniphase Corporation and changed its name to Viavi Solutions Inc. in August 2015. Viavi Solutions Inc. was founded in 1923 and is headquartered in San Jose, California.

Details
Name: Viavi Solutions Inc.
VIAV
Exchange: NasdaqGS
Founded: 1923
$3,649,072,965
229,790,489
Website: http://www.viavisolutions.com
Address: Viavi Solutions Inc.
6001 America Center Drive,
6th Floor,
San Jose,
California, 95002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS VIAV Common Stock Nasdaq Global Select US USD 17. Nov 1993
DB UNS1 Common Stock Deutsche Boerse AG DE EUR 17. Nov 1993
Number of employees
Current staff
Staff numbers
3,600
Viavi Solutions employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/10 23:36
End of day share price update: 2019/11/08 00:00
Last estimates confirmation: 2019/11/06
Last earnings filing: 2019/11/05
Last earnings reported: 2019/09/28
Last annual earnings reported: 2019/06/29


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.