Viavi Solutions (VIAV) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Viavi Solutions

NasdaqGS•Technology•Communication Equipment

$34.47+0.71(0.02%)Pre-market

Market Cap

$8.46B

P/S

5.6x

P/B

5.8x

Viavi Solutions Inc. engages in the provision of test and measurement and optical technologies for military, aerospace, railway and first responder communications in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates in two segments, Network and Service Enablement (NSE) and Optical Security and Performance Products (OSP). The NSE segment provides integrated portfolio of test, monitoring, assurance, and resilient PNT solutions that enable and secure critical infrastructure. This segment also offers instruments, microprobes, and perpetual software licenses that support the development, production, maintenance, and optimization of network systems, as well as repair, calibration, extended warranty, software support, technical assistance, training, and consulting services. The OSP segment leverages its core optical coating technologies and volume manufacturing capability to design, manufacture, and sell technologies for the anti-counterfeiting, 3D sensing, government and aerospace, automotive, and industrial markets. The company was formerly known as JDS Uniphase Corporation. Viavi Solutions Inc. was founded in 1923 and is headquartered in Chandler, Arizona.

How this company scores

GoodMetricSide Score: 67/100

Strongest: Balance Sheet & Red Flags (24/25); weakest: Profitability (11/25).

Profitability11/25

Growth14/25

Balance Sheet & Red Flags24/25

Cash & Earnings Quality18/25

Strengths

Growing revenueRising free cash flowLong cash runwayLow leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 179.1x5y range 28.7x – 751.5x

Currently above its 10-quarter median.

P/S · 5.6x5y range 1.5x – 5.9x

Currently above its 20-quarter median.

P/B · 5.8x5y range 2.2x – 9.5x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

FCF consistently trails net income (avg -0.3x) — earnings may be inflated by non-cash items or aggressive accounting.

Share Dilution

Red Flag

Shares outstanding increased 7.7% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $8.46B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.52B
Q. Revenue: $443.10M
TTM EBITDA: $150.50M
TTM Op. Income: $105.10M
Q. Op. Income: $61.30M
TTM Net Income: $-30.40M
Q. Net Income: $32.70M
EPS: $0.137
Shares Out.: $239.20M

$1.52B in TTM revenue grew 40.0% YoY, reaching $443.10M last quarter. TTM EBITDA of $150.50M and TTM operating income of $105.10M show growth is flowing through to the bottom line. However, net income is negative at $30.40M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 59.1%
EBITDA Margin: 16.8%
Op. Margin: 13.8%
Net Margin: 7.4%

Op. margin of 13.8% is up 8.6% YoY — cost efficiency is improving. Net margin at 7.4% and gross margin of 59.1% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 5.6x
P/B Ratio: 5.8x

P/S of 5.6x and P/B of 5.8x. Over the past year, P/E is up 0% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.71B
Cash: $647.80M
Long-Term Debt: $397.10M
Book Value: $1.45B
D/E Ratio: 0.3
Debt/EBITDA: 5.3

With $2.71B in assets and $397.10M in long-term debt, D/E is 0.3and book value is $1.45B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $66.70M
TTM Free Cash Flow: $82.80M
FCF Margin: 5.5%
FCF / Net Income: -2.7

TTM FCF of $82.80M on $66.70M in operating cash flow. The FCF / Net Income ratio of -2.7x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 34% — an improving trend.