ViaSat Inc (VSAT)

Short-term

Turnover ratios

ViaSat Inc's inventory turnover has shown a consistent upward trend over the past five years, increasing from 4.65 in March 2021 to 10.31 in March 2025. This indicates that the company is managing its inventory more effectively, with products being sold and replaced at a faster rate each year.

The receivables turnover ratio for ViaSat Inc fluctuated over the same period, with a peak of 9.45 in March 2021 and a decrease to 4.56 in March 2024 before recovering to 8.38 in March 2025. This suggests that the efficiency of the company in collecting outstanding receivables has improved in recent years.

In terms of payables turnover, ViaSat Inc has maintained a relatively stable ratio, fluctuating between 9.67 and 11.46 over the five-year period. This indicates that the company's management of trade payables is consistent, with suppliers being paid in a timely manner.

The working capital turnover for ViaSat Inc declined significantly from 7.98 in March 2021 to 1.96 in March 2024, before showing a slight improvement to 3.73 in March 2025. This indicates a decrease in the company's efficiency in utilizing its working capital to generate revenue, although there has been a modest recovery in the most recent year.

Overall, while ViaSat Inc has demonstrated improvements in inventory and receivables turnover ratios, the working capital turnover has shown a decline and payables turnover has remained relatively stable. These activity ratios collectively provide insights into the company's operational efficiency and management of resources over the past five years.

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Average number of days

ViaSat Inc's activity ratios provide insights into how efficiently the company manages its inventory, receivables, and payables.

1. Days of Inventory on Hand (DOH):
- The trend in DOH shows a consistent improvement over the years, decreasing from 78.56 days in March 2021 to 35.41 days in March 2025.
- This indicates that ViaSat has been able to manage its inventory more effectively, reducing the number of days it takes to sell its inventory.

2. Days of Sales Outstanding (DSO):
- The DSO ratio fluctuated over the years, peaking at 80.07 days in March 2024, but then decreasing to 43.57 days in March 2025.
- The increase in DSO in 2024 suggests that ViaSat may have faced challenges in collecting receivables efficiently, but the improvement in 2025 is a positive sign of better receivables management.

3. Number of Days of Payables:
- The days of payables have varied over the years, with a slight increase from 33.86 days in March 2021 to 54.02 days in March 2023, before decreasing to 31.84 days in March 2025.
- A decrease in the number of days of payables indicates that ViaSat has been able to streamline its payment processes, possibly negotiating better terms with suppliers.

Overall, the trends in ViaSat Inc's activity ratios suggest a positive impact on working capital management and operational efficiency, although there were some fluctuations in key ratios over the years. The company's ability to continuously improve its inventory, receivables, and payables turnover ratios reflects a proactive approach to managing its resources effectively.

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Long-term

ViaSat Inc's fixed asset turnover has been gradually decreasing over the years, from 0.74 in March 31, 2021, to 0.58 in March 31, 2023. However, the data is missing for the years 2024 and 2025. This declining trend indicates that the company's efficiency in generating revenues from its fixed assets has been weakening.

In terms of total asset turnover, ViaSat Inc has shown fluctuating results. The ratio increased from 0.42 in March 31, 2021, to 0.44 in March 31, 2022, but then dropped to 0.33 in March 31, 2023. Subsequently, there was a significant decrease to 0.26 in March 31, 2024, and a slight recovery to 0.29 in March 31, 2025. This indicates that the company's ability to generate sales relative to its total assets has been inconsistent, with a notable decline in 2024.

Overall, it is essential for ViaSat Inc to closely monitor these long-term activity ratios to ensure optimal utilization of its assets and sustainable revenue generation in the future. Additional analysis and comparison with industry benchmarks may provide more insights into the company's operational efficiency and performance.