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Optics·VIAV

Viavi Solutions Inc.

NASDAQ · US

Network test, monitoring, and assurance supplier for communications and optical network equipment markets.

AI relevance

Testing and assurance exposure for optical networks that support AI data center bandwidth growth.

Optics Networking Other Other

Price

$49.24

Change

-0.73 (-1.46%)

Market cap

$12.1B

52w range

$10–$60

Exchange

NASDAQ

Country

Jason's Chips

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Price chart

VIAV market performance

Daily close for Viavi Solutions Inc.

Latest close: $49.34
Range move: +$39.42 (+397.8%)
Range high: $55.33
Range low: $9.76
Latest volume: 3.8M
Source: FMP EOD

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Exports

Download statements, ratios, chart data, and transcript indexes.

CSV

Income statement

12 annual rows

Revenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.

Annual

Balance sheet

12 annual rows

Cash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.

Annual

Cash flow

12 annual rows

Operating cash flow, capital expenditures, and free cash flow.

Annual

Key metrics

12 annual rows

Enterprise value, valuation multiples, returns, yields, and cash conversion.

Annual

Ratios

12 annual rows

Margins, liquidity ratios, valuation ratios, leverage, and per-share metrics.

Annual

Chart data

1255 rows

Five years of daily close and volume data powering the company chart.

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Transcript list

75 rows

Available earnings-call transcript dates by fiscal year and quarter.

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StreetBuy

Analyst expectations

Consensus target

$32.25

-34.5%

Target range

$24.00 - $50.00

Rating mix

Buy

19 ratings

Next FY revenue

$1.51B

2026-06-28

Next FY EPS

$0.94

$0.93 - $0.96

Rating consensus19 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-28	$1.51B	$1.48B - $1.57B	$0.94	$0.93 - $0.96	$210.6M	$113.2M	$212.8M	$451.2M	6 rev / 5 EPS
2027-06-28	$1.79B	$1.75B - $1.87B	$1.28	$1.22 - $1.33	$249.9M	$134.3M	$287.7M	$535.3M	6 rev / 5 EPS
2028-06-28	$2.08B	$2.08B - $2.08B	$1.83	$0.63 - $2.75	$290.0M	$155.9M	$284.4M	$621.2M	3 rev / 3 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-28	$432.6M	$430.7M - $436.5M	$0.30	$0.29 - $0.32	$60.4M	$32.5M	$74.4M	$129.5M	5 rev / 5 EPS
2026-09-28	$431.5M	$420.5M - $449.2M	$0.28	$0.26 - $0.30	$60.3M	$32.4M	$69.6M	$129.1M	5 rev / 5 EPS
2026-12-28	$443.0M	$435.2M - $453.4M	$0.32	$0.31 - $0.33	$61.9M	$33.3M	$79.8M	$132.6M	3 rev / 2 EPS
2027-03-28	$448.0M	$440.2M - $458.6M	$0.33	$0.32 - $0.34	$62.6M	$33.6M	$81.5M	$134.1M	3 rev / 2 EPS
2027-06-28	$466.3M	$458.1M - $477.2M	$0.36	$0.35 - $0.37	$65.1M	$35.0M	$89.5M	$139.5M	3 rev / 2 EPS
2027-09-28	$472.9M	$464.6M - $484.0M	$0.37	$0.36 - $0.38	$66.1M	$35.5M	$92.3M	$141.5M	3 rev / 2 EPS
2027-12-28	$497.1M	$488.4M - $508.8M	$0.42	$0.41 - $0.43	$69.4M	$37.3M	$105.0M	$148.8M	3 rev / 2 EPS
2028-03-28	$522.3M	$513.2M - $534.6M	$0.46	$0.45 - $0.48	$73.0M	$39.2M	$115.9M	$156.3M	2 rev / 3 EPS

Price target history

Window	Targets	Average target
Last month	0	$0.00
Last quarter	1	$50.00
Last year	8	$25.69
All time	19	$18.33

Sources: TheFly, StreetInsider, Benzinga

Latest grade actions

Date	Firm	Action	Previous	New
2026-06-10	Rosenblatt	Maintain	Buy	Buy
2026-04-30	Needham	Maintain	Buy	Buy
2026-04-30	Rosenblatt	Maintain	Buy	Buy
2026-04-30	Susquehanna	Maintain	Positive	Positive
2026-04-30	UBS	Maintain	Neutral	Neutral
2026-04-24	B. Riley Securities	Maintain	Buy	Buy
2026-03-18	Rosenblatt	Maintain	Buy	Buy
2026-03-02	Needham	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold
2026-06-01	1	6	1
2026-05-01	1	6	1
2026-04-01	1	6	1
2026-03-01	1	6	1
2026-02-01	1	6	1
2026-01-01	1	6	1
2025-12-01	1	6	1
2025-11-01	1	6	1

FinancialsFY 2025

Financials

Revenue

$1.08B

Gross margin

56.8%

Operating income

$70.9M

Free cash flow

$62.0M

Cash + ST investments

$425.3M

Net debt

$268.7M

ROE

4.5%

ROIC

3.8%

EV / sales

2.3x

EV / EBITDA

18.9x

R&D / revenue

19.2%

Current ratio

1.5x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$1.08B	$616.3M	56.8%	$208.7M	$70.9M	$131.9M	$34.8M	$0.16
FY 2024	$1.00B	$569.6M	56.9%	$201.9M	$43.0M	$101.2M	-$25.8M	$-0.12
FY 2023	$1.11B	$630.1M	57.0%	$206.9M	$99.1M	$157.3M	$25.5M	$0.11
FY 2022	$1.29B	$763.8M	59.1%	$213.2M	$185.2M	$163.8M	$15.5M	$0.07
FY 2021	$1.20B	$681.1M	56.8%	$203.0M	$135.9M	$247.8M	$67.5M	$0.30
FY 2020	$1.14B	$630.2M	55.5%	$193.6M	$90.1M	$235.5M	$28.7M	$0.13
FY 2019	$1.13B	$613.3M	54.3%	$187.0M	$76.9M	$185.8M	$5.4M	$0.03
FY 2018	$875.7M	$467.4M	53.4%	$133.3M	$10.2M	$95.0M	-$48.6M	$-0.20
FY 2017	$811.4M	$472.0M	58.2%	$136.3M	$35.2M	$287.5M	$166.9M	$0.73
FY 2016	$906.3M	$535.1M	59.0%	$166.4M	$17.6M	$59.8M	-$99.2M	$-0.43
FY 2015	$873.9M	$500.6M	57.3%	$173.3M	-$49.0M	$60.2M	-$88.1M	$-0.37
FY 2014	$1.74B	$768.5M	44.1%	$293.9M	$24.2M	$129.0M	-$17.8M	$-0.08

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$89.8M	$27.8M	$62.0M
FY 2024	$116.4M	$19.5M	$96.9M
FY 2023	$114.1M	$51.1M	$63.0M
FY 2022	$178.1M	$72.5M	$105.6M
FY 2021	$243.3M	$52.1M	$191.2M
FY 2020	$135.6M	$31.9M	$103.7M
FY 2019	$138.8M	$45.0M	$93.8M
FY 2018	$66.0M	$42.5M	$23.5M
FY 2017	$80.0M	$38.6M	$41.4M
FY 2016	$52.9M	$35.5M	$17.4M
FY 2015	$82.3M	$101.5M	-$19.2M
FY 2014	$176.6M	$99.8M	$76.8M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$425.3M	$293.2M	$117.9M	$266.0M	$1.99B	$692.3M	$268.7M	$1.21B	$780.2M
FY 2024	$491.2M	$244.9M	$96.5M	$264.0M	$1.74B	$687.2M	$215.9M	$1.05B	$681.6M
FY 2023	$521.1M	$263.9M	$116.1M	$243.0M	$1.85B	$781.0M	$274.5M	$1.16B	$690.8M
FY 2022	$561.3M	$285.8M	$110.1M	$228.9M	$1.83B	$744.5M	$184.6M	$1.16B	$671.7M
FY 2021	$699.4M	$275.6M	$94.9M	$241.1M	$1.96B	$739.2M	$41.4M	$1.20B	$763.9M
FY 2020	$544.0M	$260.7M	$83.3M	$172.5M	$1.78B	$659.8M	$117.3M	$1.06B	$711.4M
FY 2019	$523.0M	$237.7M	$102.7M	$179.9M	$1.82B	$578.8M	$57.3M	$1.09B	$725.8M
FY 2018	$780.7M	$218.6M	$92.3M	$170.5M	$2.02B	$833.2M	$221.8M	$1.30B	$720.7M
FY 2017	$1.44B	$120.4M	$48.0M	$136.9M	$2.11B	$931.4M	-$73.0M	$1.32B	$786.4M
FY 2016	$967.6M	$148.4M	$51.4M	$133.0M	$1.68B	$588.3M	$105.4M	$993.8M	$689.3M
FY 2015	$813.2M	$152.3M	$152.5M	$294.6M	$2.22B	$561.6M	$213.7M	$1.11B	$1.10B
FY 2014	$849.4M	$296.2M	$153.3M	$288.8M	$2.36B	$536.3M	$239.1M	$1.17B	$1.19B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	56.8%	6.5%	3.2%	1.5x	1.3x	4.5%	3.8%	2.3x	18.9x	2.8%	19.2%	137d
FY 2024	56.9%	4.3%	-2.6%	3.5x	3.2x	-3.8%	-6.4%	1.7x	17.2x	6.3%	20.2%	128d
FY 2023	57.0%	9.0%	2.3%	2.8x	2.4x	3.7%	2.6%	2.5x	17.9x	2.5%	18.7%	140d
FY 2022	59.1%	14.3%	1.2%	2.7x	2.4x	2.3%	2.9%	2.5x	19.6x	3.5%	16.5%	116d
FY 2021	56.8%	11.3%	5.6%	1.5x	1.4x	8.8%	4.2%	3.4x	16.3x	4.8%	16.9%	106d
FY 2020	55.5%	7.9%	2.5%	3.9x	3.6x	4.0%	1.8%	2.6x	12.7x	3.6%	17.0%	106d
FY 2019	54.3%	6.8%	0.5%	3.2x	2.9x	0.7%	1.0%	2.9x	17.5x	2.9%	16.5%	105d
FY 2018	53.4%	1.2%	-5.5%	2.1x	1.9x	-6.7%	0.6%	2.9x	26.8x	1.0%	15.2%	124d
FY 2017	58.2%	4.3%	20.6%	7.3x	7.1x	21.2%	1.7%	2.9x	8.2x	1.7%	16.8%	71d
FY 2016	59.0%	1.9%	-10.9%	5.4x	5.1x	-14.4%	1.2%	1.8x	27.2x	1.1%	18.4%	64d
FY 2015	57.3%	-5.6%	-10.1%	3.7x	3.3x	-8.0%	-2.7%	2.0x	28.8x	-1.3%	19.8%	172d
FY 2014	44.1%	1.4%	-1.0%	3.4x	3.0x	-1.5%	0.7%	1.1x	14.7x	4.6%	16.9%	68d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+8.4%	+8.2%	+3.4%	+64.9%	+234.9%	+233.3%	-36.0%	-42.6%	-13.4%	+22.2%	+14.8%	+0.7%
FY 2024	-9.6%	-9.6%	-2.4%	-56.6%	-201.2%	-209.1%	+53.8%	+61.8%	-5.7%	-16.9%	-6.2%	-12.0%
FY 2023	-14.4%	-17.5%	-3.0%	-46.5%	+64.5%	+63.9%	-40.3%	+29.5%	-7.2%	+5.4%	+1.2%	+4.9%
FY 2022	+7.8%	+12.1%	+5.0%	+36.3%	-77.0%	-77.6%	-44.8%	-39.2%	-19.7%	+16.0%	-6.8%	+0.7%
FY 2021	+5.5%	+8.1%	+4.9%	+50.8%	+135.2%	+130.8%	+84.4%	-63.3%	+28.6%	+13.9%	+10.4%	+12.0%
FY 2020	+0.5%	+2.8%	+3.5%	+17.2%	+431.5%	+280.1%	+10.6%	+29.1%	+4.0%	-18.9%	-2.1%	+14.0%
FY 2019	+29.1%	+31.2%	+40.3%	+653.9%	+111.1%	+117.1%	+299.1%	-5.9%	-33.0%	+11.3%	-10.3%	-30.5%
FY 2018	+7.9%	-1.0%	-2.2%	-71.0%	-129.1%	-127.4%	-43.2%	-10.1%	-45.7%	+92.3%	-4.2%	-10.5%
FY 2017	-10.5%	-11.8%	-18.1%	+100.0%	+268.2%	+269.8%	+137.9%	-8.7%	+48.5%	-6.6%	+25.4%	+58.3%
FY 2016	+3.7%	+6.9%	-4.0%	+135.9%	-12.6%	-16.2%	+190.6%	+65.0%	+19.0%	-66.3%	-24.1%	+4.8%
FY 2015	-49.9%	-34.9%	-41.0%	-302.5%	-394.9%	-384.3%	-125.0%	-1.7%	-4.3%	-0.5%	-6.0%	+4.7%
FY 2014	+4.0%	+12.7%	+13.7%	+690.2%	-131.2%	-131.8%	-37.4%	-53.3%	+74.7%	+5.1%	+37.5%	+1555.2%

SegmentsFY 2025

Revenue Mix

Period	Total	Product	Network and Service Enablement	Service	Network Enablement	Communications And Commercial Optical Products Business Segment	Communications and Commercial Optical Products Business Segment	Service Enablement	Optical Security and Performance Products Business Segment	Optical Security And Performance Products Business Segment
FY 2025	$1.08B	$912.0M	--	$172.3M	--	--	--	--	--	--
FY 2024	$1.00B	$834.8M	--	$165.6M	--	--	--	--	--	--
FY 2023	$1.11B	$936.1M	--	$170.0M	--	--	--	--	--	--
FY 2022	$1.29B	$1.14B	--	$156.9M	--	--	--	--	--	--
FY 2021	$1.20B	$1.05B	--	$147.5M	--	--	--	--	--	--
FY 2020	$1.14B	$1.01B	--	$131.1M	--	--	--	--	--	--
FY 2019	$1.13B	$1.00B	--	$126.1M	--	--	--	--	--	--
FY 2018	$880.4M	$783.1M	--	$97.3M	--	--	--	--	--	--
FY 2017	$579.2M	--	$579.2M	--	--	--	--	--	--	--
FY 2016	$1.32B	--	$658.2M	--	$504.6M	--	--	$153.6M	--	--
FY 2015	$1.71B	--	--	--	$532.2M	$815.1M	--	$169.0M	--	$192.8M
FY 2014	$1.74B	--	$748.3M	--	--	--	$794.1M	--	$200.8M	--

Period	Total	Americas	Asia Pacific	EMEA	E M E A
FY 2025	$1.08B	$425.2M	$379.6M	$279.5M	--
FY 2024	$1.00B	$390.7M	$346.5M	$263.2M	--
FY 2023	$1.11B	$438.1M	$377.5M	$290.5M	--
FY 2022	$1.29B	$485.7M	$461.7M	$345.0M	--
FY 2021	$1.20B	$415.6M	$410.5M	$372.8M	--
FY 2020	$1.14B	$414.8M	$368.2M	$353.3M	--
FY 2019	$1.13B	$426.3M	$372.2M	$331.8M	--
FY 2018	$880.4M	$420.1M	$213.0M	$247.3M	--
FY 2017	$811.4M	$378.6M	$173.2M	$259.6M	--
FY 2016	$906.3M	$462.6M	$166.3M	$277.4M	--
FY 2015	$1.71B	$791.7M	$543.8M	--	$373.6M
FY 2014	$1.74B	$826.0M	$505.4M	$411.8M	--

Transcripts

Events

Next earnings

2026-08-06EPS est $0.30

Recent filings

SD2026-06-01
42026-05-29
8-K2026-05-21

Latest news

Can Viavi's New Validation Solution Shape the Future of AI Networking?
Zacks Investment Research · 2026-06-24
VIAVI Launches Industry's First Validation Solution for Ultra Ethernet Transport, Accelerating AI Data Center Deployments
PRNewsWire · 2026-06-23

Analyst expectations

Consensus target

$32.25

-34.5%

Target range

$24.00 - $50.00

Rating mix

Buy

19 ratings

Next FY revenue

$1.51B

2026-06-28

Next FY EPS

$0.94

$0.93 - $0.96

Rating consensus19 ratings

Strong buy

Buy

Hold

Sell

Strong sell

Annual estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-28	$1.51B	$1.48B - $1.57B	$0.94	$0.93 - $0.96	$210.6M	$113.2M	$212.8M	$451.2M	6 rev / 5 EPS
2027-06-28	$1.79B	$1.75B - $1.87B	$1.28	$1.22 - $1.33	$249.9M	$134.3M	$287.7M	$535.3M	6 rev / 5 EPS
2028-06-28	$2.08B	$2.08B - $2.08B	$1.83	$0.63 - $2.75	$290.0M	$155.9M	$284.4M	$621.2M	3 rev / 3 EPS

Quarterly estimates

Period	Revenue avg	Revenue range	EPS avg	EPS range	EBITDA avg	EBIT avg	Net income avg	SG&A avg	Analysts
2026-06-28	$432.6M	$430.7M - $436.5M	$0.30	$0.29 - $0.32	$60.4M	$32.5M	$74.4M	$129.5M	5 rev / 5 EPS
2026-09-28	$431.5M	$420.5M - $449.2M	$0.28	$0.26 - $0.30	$60.3M	$32.4M	$69.6M	$129.1M	5 rev / 5 EPS
2026-12-28	$443.0M	$435.2M - $453.4M	$0.32	$0.31 - $0.33	$61.9M	$33.3M	$79.8M	$132.6M	3 rev / 2 EPS
2027-03-28	$448.0M	$440.2M - $458.6M	$0.33	$0.32 - $0.34	$62.6M	$33.6M	$81.5M	$134.1M	3 rev / 2 EPS
2027-06-28	$466.3M	$458.1M - $477.2M	$0.36	$0.35 - $0.37	$65.1M	$35.0M	$89.5M	$139.5M	3 rev / 2 EPS
2027-09-28	$472.9M	$464.6M - $484.0M	$0.37	$0.36 - $0.38	$66.1M	$35.5M	$92.3M	$141.5M	3 rev / 2 EPS
2027-12-28	$497.1M	$488.4M - $508.8M	$0.42	$0.41 - $0.43	$69.4M	$37.3M	$105.0M	$148.8M	3 rev / 2 EPS
2028-03-28	$522.3M	$513.2M - $534.6M	$0.46	$0.45 - $0.48	$73.0M	$39.2M	$115.9M	$156.3M	2 rev / 3 EPS

Price target history

Window	Targets	Average target
Last month	0	$0.00
Last quarter	1	$50.00
Last year	8	$25.69
All time	19	$18.33

Sources: TheFly, StreetInsider, Benzinga

Latest grade actions

Date	Firm	Action	Previous	New
2026-06-10	Rosenblatt	Maintain	Buy	Buy
2026-04-30	Needham	Maintain	Buy	Buy
2026-04-30	Rosenblatt	Maintain	Buy	Buy
2026-04-30	Susquehanna	Maintain	Positive	Positive
2026-04-30	UBS	Maintain	Neutral	Neutral
2026-04-24	B. Riley Securities	Maintain	Buy	Buy
2026-03-18	Rosenblatt	Maintain	Buy	Buy
2026-03-02	Needham	Maintain	Buy	Buy

Historical rating snapshots

Date	Strong buy	Buy	Hold
2026-06-01	1	6	1
2026-05-01	1	6	1
2026-04-01	1	6	1
2026-03-01	1	6	1
2026-02-01	1	6	1
2026-01-01	1	6	1
2025-12-01	1	6	1
2025-11-01	1	6	1

Financials

Revenue

$1.08B

Gross margin

56.8%

Operating income

$70.9M

Free cash flow

$62.0M

Cash + ST investments

$425.3M

Net debt

$268.7M

ROE

4.5%

ROIC

3.8%

EV / sales

2.3x

EV / EBITDA

18.9x

R&D / revenue

19.2%

Current ratio

1.5x

Income statement annual

Period	Revenue	Gross profit	Gross margin	R&D	Operating income	EBITDA	Net income	EPS
FY 2025	$1.08B	$616.3M	56.8%	$208.7M	$70.9M	$131.9M	$34.8M	$0.16
FY 2024	$1.00B	$569.6M	56.9%	$201.9M	$43.0M	$101.2M	-$25.8M	$-0.12
FY 2023	$1.11B	$630.1M	57.0%	$206.9M	$99.1M	$157.3M	$25.5M	$0.11
FY 2022	$1.29B	$763.8M	59.1%	$213.2M	$185.2M	$163.8M	$15.5M	$0.07
FY 2021	$1.20B	$681.1M	56.8%	$203.0M	$135.9M	$247.8M	$67.5M	$0.30
FY 2020	$1.14B	$630.2M	55.5%	$193.6M	$90.1M	$235.5M	$28.7M	$0.13
FY 2019	$1.13B	$613.3M	54.3%	$187.0M	$76.9M	$185.8M	$5.4M	$0.03
FY 2018	$875.7M	$467.4M	53.4%	$133.3M	$10.2M	$95.0M	-$48.6M	$-0.20
FY 2017	$811.4M	$472.0M	58.2%	$136.3M	$35.2M	$287.5M	$166.9M	$0.73
FY 2016	$906.3M	$535.1M	59.0%	$166.4M	$17.6M	$59.8M	-$99.2M	$-0.43
FY 2015	$873.9M	$500.6M	57.3%	$173.3M	-$49.0M	$60.2M	-$88.1M	$-0.37
FY 2014	$1.74B	$768.5M	44.1%	$293.9M	$24.2M	$129.0M	-$17.8M	$-0.08

Cash flow annual

Period	Operating cash flow	Capex	Free cash flow
FY 2025	$89.8M	$27.8M	$62.0M
FY 2024	$116.4M	$19.5M	$96.9M
FY 2023	$114.1M	$51.1M	$63.0M
FY 2022	$178.1M	$72.5M	$105.6M
FY 2021	$243.3M	$52.1M	$191.2M
FY 2020	$135.6M	$31.9M	$103.7M
FY 2019	$138.8M	$45.0M	$93.8M
FY 2018	$66.0M	$42.5M	$23.5M
FY 2017	$80.0M	$38.6M	$41.4M
FY 2016	$52.9M	$35.5M	$17.4M
FY 2015	$82.3M	$101.5M	-$19.2M
FY 2014	$176.6M	$99.8M	$76.8M

Balance sheet annual

Period	Cash + ST inv.	Receivables	Inventory	PP&E	Assets	Debt	Net debt	Liabilities	Equity
FY 2025	$425.3M	$293.2M	$117.9M	$266.0M	$1.99B	$692.3M	$268.7M	$1.21B	$780.2M
FY 2024	$491.2M	$244.9M	$96.5M	$264.0M	$1.74B	$687.2M	$215.9M	$1.05B	$681.6M
FY 2023	$521.1M	$263.9M	$116.1M	$243.0M	$1.85B	$781.0M	$274.5M	$1.16B	$690.8M
FY 2022	$561.3M	$285.8M	$110.1M	$228.9M	$1.83B	$744.5M	$184.6M	$1.16B	$671.7M
FY 2021	$699.4M	$275.6M	$94.9M	$241.1M	$1.96B	$739.2M	$41.4M	$1.20B	$763.9M
FY 2020	$544.0M	$260.7M	$83.3M	$172.5M	$1.78B	$659.8M	$117.3M	$1.06B	$711.4M
FY 2019	$523.0M	$237.7M	$102.7M	$179.9M	$1.82B	$578.8M	$57.3M	$1.09B	$725.8M
FY 2018	$780.7M	$218.6M	$92.3M	$170.5M	$2.02B	$833.2M	$221.8M	$1.30B	$720.7M
FY 2017	$1.44B	$120.4M	$48.0M	$136.9M	$2.11B	$931.4M	-$73.0M	$1.32B	$786.4M
FY 2016	$967.6M	$148.4M	$51.4M	$133.0M	$1.68B	$588.3M	$105.4M	$993.8M	$689.3M
FY 2015	$813.2M	$152.3M	$152.5M	$294.6M	$2.22B	$561.6M	$213.7M	$1.11B	$1.10B
FY 2014	$849.4M	$296.2M	$153.3M	$288.8M	$2.36B	$536.3M	$239.1M	$1.17B	$1.19B

Annual ratios and key metrics

Period	Gross margin	Op margin	Net margin	Current	Quick	ROE	ROIC	EV / sales	EV / EBITDA	FCF yield	R&D / rev.	Cash cycle
FY 2025	56.8%	6.5%	3.2%	1.5x	1.3x	4.5%	3.8%	2.3x	18.9x	2.8%	19.2%	137d
FY 2024	56.9%	4.3%	-2.6%	3.5x	3.2x	-3.8%	-6.4%	1.7x	17.2x	6.3%	20.2%	128d
FY 2023	57.0%	9.0%	2.3%	2.8x	2.4x	3.7%	2.6%	2.5x	17.9x	2.5%	18.7%	140d
FY 2022	59.1%	14.3%	1.2%	2.7x	2.4x	2.3%	2.9%	2.5x	19.6x	3.5%	16.5%	116d
FY 2021	56.8%	11.3%	5.6%	1.5x	1.4x	8.8%	4.2%	3.4x	16.3x	4.8%	16.9%	106d
FY 2020	55.5%	7.9%	2.5%	3.9x	3.6x	4.0%	1.8%	2.6x	12.7x	3.6%	17.0%	106d
FY 2019	54.3%	6.8%	0.5%	3.2x	2.9x	0.7%	1.0%	2.9x	17.5x	2.9%	16.5%	105d
FY 2018	53.4%	1.2%	-5.5%	2.1x	1.9x	-6.7%	0.6%	2.9x	26.8x	1.0%	15.2%	124d
FY 2017	58.2%	4.3%	20.6%	7.3x	7.1x	21.2%	1.7%	2.9x	8.2x	1.7%	16.8%	71d
FY 2016	59.0%	1.9%	-10.9%	5.4x	5.1x	-14.4%	1.2%	1.8x	27.2x	1.1%	18.4%	64d
FY 2015	57.3%	-5.6%	-10.1%	3.7x	3.3x	-8.0%	-2.7%	2.0x	28.8x	-1.3%	19.8%	172d
FY 2014	44.1%	1.4%	-1.0%	3.4x	3.0x	-1.5%	0.7%	1.1x	14.7x	4.6%	16.9%	68d

Annual growth

Period	Revenue	Gross profit	R&D	Op income	Net income	EPS	FCF	Capex	Cash + ST inv.	Inventory	Assets	Debt
FY 2025	+8.4%	+8.2%	+3.4%	+64.9%	+234.9%	+233.3%	-36.0%	-42.6%	-13.4%	+22.2%	+14.8%	+0.7%
FY 2024	-9.6%	-9.6%	-2.4%	-56.6%	-201.2%	-209.1%	+53.8%	+61.8%	-5.7%	-16.9%	-6.2%	-12.0%
FY 2023	-14.4%	-17.5%	-3.0%	-46.5%	+64.5%	+63.9%	-40.3%	+29.5%	-7.2%	+5.4%	+1.2%	+4.9%
FY 2022	+7.8%	+12.1%	+5.0%	+36.3%	-77.0%	-77.6%	-44.8%	-39.2%	-19.7%	+16.0%	-6.8%	+0.7%
FY 2021	+5.5%	+8.1%	+4.9%	+50.8%	+135.2%	+130.8%	+84.4%	-63.3%	+28.6%	+13.9%	+10.4%	+12.0%
FY 2020	+0.5%	+2.8%	+3.5%	+17.2%	+431.5%	+280.1%	+10.6%	+29.1%	+4.0%	-18.9%	-2.1%	+14.0%
FY 2019	+29.1%	+31.2%	+40.3%	+653.9%	+111.1%	+117.1%	+299.1%	-5.9%	-33.0%	+11.3%	-10.3%	-30.5%
FY 2018	+7.9%	-1.0%	-2.2%	-71.0%	-129.1%	-127.4%	-43.2%	-10.1%	-45.7%	+92.3%	-4.2%	-10.5%
FY 2017	-10.5%	-11.8%	-18.1%	+100.0%	+268.2%	+269.8%	+137.9%	-8.7%	+48.5%	-6.6%	+25.4%	+58.3%
FY 2016	+3.7%	+6.9%	-4.0%	+135.9%	-12.6%	-16.2%	+190.6%	+65.0%	+19.0%	-66.3%	-24.1%	+4.8%
FY 2015	-49.9%	-34.9%	-41.0%	-302.5%	-394.9%	-384.3%	-125.0%	-1.7%	-4.3%	-0.5%	-6.0%	+4.7%
FY 2014	+4.0%	+12.7%	+13.7%	+690.2%	-131.2%	-131.8%	-37.4%	-53.3%	+74.7%	+5.1%	+37.5%	+1555.2%

Revenue Mix