IRDM vs VSAT
Iridium Communications Inc. and Viasat Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | IRDM | VSAT |
|---|---|---|
| Revenue | $871.7M | $4.6B |
| Net income | $114.4M | $-34.1M |
| Gross margin | · | · |
| Net margin | 13.1% | 0.1% |
| Return on equity | 22.0% | −0.7% |
| Diluted EPS | $1.06 | −$0.25 |
| Dividend / share | · | · |
| Payout ratio | 55.0% | · |
| Free cash flow | $299.8M | · |
| Equity | $462.6M | $4.7B |
| Net debt / equity | 3.60× | 1.01× |
| Current ratio | 2.48× | 2.41× |
| Revenue CAGR 5y | 8.4% | 19.3% |
| Profit CAGR 5y | · | · |
VSAT bills 5.3× the revenue of IRDM, and VSAT closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | IRDM | VSAT |
|---|---|---|
| FY2025 | $871.7M | $4.6B |
| FY2024 | $830.7M | $4.5B |
| FY2023 | $790.7M | $4.3B |
| FY2022 | $721.0M | $2.6B |
| FY2021 | $614.5M | $2.4B |
| FY2020 | $583.4M | $1.9B |
| FY2019 | $560.4M | $2.3B |
| FY2018 | $523.0M | $2.1B |
| FY2017 | $448.0M | $1.6B |
| FY2016 | $433.6M | $1.6B |
Bottom line
| Fiscal year | IRDM | VSAT |
|---|---|---|
| FY2025 | $114.4M | $-34.1M |
| FY2024 | $112.8M | $-575.0M |
| FY2023 | $15.4M | $-1.1B |
| FY2022 | $8.7M | $1.1B |
| FY2021 | $-9.3M | $-15.5M |
| FY2020 | $-56.1M | $3.7M |
| FY2019 | $-162.0M | $13.8M |
| FY2018 | $-13.4M | $-66.5M |
| FY2017 | $233.9M | $-68.3M |
| FY2016 | $111.0M | $21.8M |
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$3,768,621,000 | VSAT |
| FY2024 | −$3,688,889,000 | VSAT |
| FY2023 | −$3,493,035,000 | VSAT |
| FY2022 | −$1,835,124,000 | VSAT |
| FY2021 | −$1,802,679,000 | VSAT |
| FY2020 | −$1,337,439,000 | VSAT |
| FY2019 | −$1,748,794,000 | VSAT |
| FY2018 | −$1,545,250,000 | VSAT |
| FY2017 | −$1,146,579,000 | VSAT |
| FY2016 | −$1,125,697,000 | VSAT |
| FY2015 | −$1,006,053,000 | VSAT |
| FY2014 | −$973,978,000 | VSAT |
| FY2013 | −$968,813,000 | VSAT |
| FY2012 | −$736,170,000 | VSAT |
| FY2011 | −$479,320,000 | VSAT |
| FY2010 | −$454,033,000 | VSAT |
| FY2009 | −$612,091,000 | VSAT |
VSAT has reported the higher revenue in every one of these 17 fiscal years. The gap has widened since the earliest year compared.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
17 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +13.0 pp | IRDM |
| FY2024 | +25.3 pp | IRDM |
| FY2023 | +26.6 pp | IRDM |
| FY2022 | −41.5 pp | VSAT |
| FY2021 | −1.4 pp | VSAT |
| FY2020 | −10.5 pp | VSAT |
| FY2019 | −29.5 pp | VSAT |
| FY2018 | +0.7 pp | IRDM |
| FY2017 | +56.5 pp | IRDM |
| FY2016 | +24.2 pp | IRDM |
| FY2015 | +0.2 pp | IRDM |
| FY2014 | +15.5 pp | IRDM |
| FY2013 | +17.0 pp | IRDM |
| FY2012 | +20.5 pp | IRDM |
| FY2011 | +9.8 pp | IRDM |
| FY2010 | +1.2 pp | IRDM |
| FY2009 | −60.1 pp | VSAT |
The higher net margin has changed hands between IRDM and VSAT over this period.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IRDM's net margin has been more volatile than VSAT's over the 17 comparable fiscal years — 22.3 percentage points of standard deviation against 12.5.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between IRDM and VSAT over these 17 fiscal years — IRDM led in 12 and VSAT in 5.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
VSAT's return on equity has been more volatile than IRDM's over the 9 comparable fiscal years — 14.5 percentage points of standard deviation against 9.1.
9 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between IRDM and VSAT over these 9 fiscal years — IRDM led in 4 and VSAT in 5.
9 of 18 comparable fiscal years — a year missing data on either side is not counted.