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Friday 6 November 2026
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KVH Industries, Inc.
KVHI Communication Services Telecom Services
KVH Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $111.0 million, down 2.48% from fiscal 2024.
- Revenue
- +35.1%
- EPS
- +91.7%
- Free cash flow
- −71.6%
Quarter to September 2026, against a year earlier
6.13
0.09
+1.49%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 5.89 | 0.00 | 0.00 | 7.86 | 0.00 | 0.00 | 0.00 |
Piotroski F-Score |
5 | 4 | 4 | 5 | 4 | 5 | 7 | 4 | 4 | 5 |
Altman Z-Score |
2.52 | 2.10 | 1.85 | 3.37 | 3.16 | 3.22 | 4.30 | 3.46 | 5.22 | 5.06 |
P/S ratio |
1.03 | 1.06 | 1.15 | 1.23 | 1.26 | 1.25 | 1.35 | 0.78 | 0.97 | 1.22 |
P/FCF ratio |
13.93 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6.47 |
Altman Z″-Score (non-manufacturers) |
3.53 | 2.67 | 1.30 | 5.13 | 3.95 | 4.48 | 7.53 | 8.98 | 12.58 | 10.15 |
Beneish M-Score |
(3.42) | (3.08) | (2.70) | (2.34) | (3.11) | (2.90) | (3.04) | (2.98) | (2.54) | (2.50) |
P/Operating CF |
(674.41) | 79.17 | 51.32 | (71.57) | (1,328.10) | 168.26 | 18.09 | 19.76 | 274.24 | 39.85 |
P/B ratio |
1.71 | 1.60 | 1.77 | 1.30 | 1.52 | 1.30 | 1.18 | 0.70 | 0.80 | 1.03 |
Price to Tangible BV |
3.18 | 2.98 | 2.23 | 1.50 | 1.63 | 1.38 | 1.23 | 0.70 | 0.80 | 1.07 |
EV/Sales |
1.07 | 1.08 | 1.24 | 0.98 | 1.07 | 1.12 | 0.85 | 0.31 | 0.59 | 0.66 |
EV/EBITDA |
16.72 | 76.22 | 85.84 | 0.00 | 0.00 | 0.00 | 14.26 | 19.61 | 26.51 | 0.00 |
EV/Operating CF |
10.05 | 15.03 | 36.61 | (10.89) | (55.13) | 51.77 | 13.31 | 16.15 | (5.14) | 4.27 |
EV/FCF |
14.39 | (128.91) | (17.60) | (5.78) | (9.90) | (9.54) | (21.33) | (4.35) | (3.50) | 3.49 |
Quick Ratio |
2.10 | 1.64 | 0.78 | 2.11 | 1.75 | 1.54 | 2.81 | 3.82 | 4.55 | 5.70 |
Current Ratio |
2.75 | 2.26 | 1.39 | 2.85 | 2.48 | 2.59 | 3.50 | 4.76 | 7.72 | 7.07 |
Net Debt/EBITDA |
0.53 | 1.82 | 6.39 | 4.17 | 39.28 | 4.91 | (9.24) | (33.50) | (19.82) | 147.18 |
Debt/Assets |
29.06% | 23.98% | 15.65% | 4.12% | 3.77% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Debt/Equity |
0.55 | 0.45 | 0.30 | 0.05 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Asset Turnover |
0.83 | 0.81 | 0.80 | 0.82 | 0.83 | 0.76 | 0.76 | 0.72 | 0.69 | 0.72 |
Operating CF/Net income |
(2.49) | (1.04) | (0.63) | (0.43) | 0.14 | (0.30) | 0.37 | (0.16) | 1.19 | (2.32) |
Capex/Depreciation |
(0.45) | (1.17) | (1.24) | (1.09) | (0.63) | (1.28) | (1.03) | (0.61) | (0.42) | 0.37 |
Interest Coverage |
(0.92) | (5.97) | (5.97) | (20.68) | (1,274.28) | (349.91) | (1,908.33) | (17,345.00) | (5,941.50) | — |
| (6.69%) | (10.40%) | (8.02%) | 26.66% | (15.57%) | (7.49%) | 16.72% | (10.09%) | (7.73%) | (5.48%) | |
| (3.53%) | (5.57%) | (4.29%) | 17.18% | (11.46%) | (5.54%) | 13.17% | (8.36%) | (6.74%) | (4.82%) | |
ROIC |
(0.73%) | (4.99%) | (5.85%) | (11.99%) | (14.18%) | (11.72%) | (4.38%) | (13.97%) | (8.43%) | (11.43%) |
Return on Tangible Assets |
(7.11%) | (11.26%) | (11.38%) | 26.72% | (18.83%) | (9.13%) | 16.46% | (10.90%) | (8.26%) | (5.99%) |
Average Days of Receivables |
64.56 | 64.56 | 68.20 | 76.03 | 77.46 | 75.68 | 72.15 | 70.78 | 69.34 | 82.36 |
Research and Development Expense of Revenue |
9.10% | 9.91% | 9.77% | 10.09% | 9.95% | 8.27% | 7.47% | 7.10% | 7.41% | 3.11% |
Selling, General and Administrative Expense of Revenue |
35.27% | 39.25% | 35.14% | 37.32% | 34.18% | 40.59% | 34.49% | 30.08% | 32.97% | 32.19% |
Intangible Assets out of Total Assets |
0.25 | 0.25 | 0.11 | 0.10 | 0.05 | 0.05 | 0.03 | 0.01 | 0.01 | 0.03 |
Share Based Compensation of Revenue |
2.07% | 2.20% | 2.17% | 2.63% | 2.18% | 3.07% | 2.47% | 1.57% | 1.78% | 1.41% |
Graham Net Nets |
0.09 | 0.04 | (0.06) | 0.31 | 0.25 | 0.29 | 0.49 | 0.91 | 0.96 | 0.72 |
Graham Number |
0.00 | 0.00 | 0.00 | 19.11 | 0.00 | 0.00 | 15.65 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(4.17%) | (6.50%) | (4.76%) | 16.98% | (10.84%) | (5.77%) | 12.72% | (14.51%) | (9.82%) | (5.45%) |
Free Cash Flow Yield |
7.18% | (0.79%) | (6.14%) | (13.73%) | (8.55%) | (9.43%) | (2.96%) | (9.13%) | (17.48%) | 15.46% |
Revenue per Share |
11.12 | 9.75 | 8.96 | 9.04 | 8.98 | 7.35 | 7.45 | 6.92 | 5.87 | 5.72 |
Operating CF per Share |
1.18 | 0.70 | 0.30 | (0.81) | (0.17) | 0.16 | 0.48 | 0.13 | (0.68) | 0.88 |
Capex per Share |
(0.36) | (0.78) | (0.93) | (0.72) | (0.80) | (1.03) | (0.78) | (0.62) | (0.31) | 0.20 |
Free Cash Flow per Share |
0.83 | (0.08) | (0.63) | (1.53) | (0.97) | (0.87) | (0.30) | (0.49) | (0.99) | 1.08 |
Cash per Share |
3.29 | 2.61 | 0.89 | 2.76 | 2.13 | 1.35 | 4.12 | 3.65 | 2.61 | 3.60 |
Shareholders Equity per Share |
6.73 | 6.44 | 5.83 | 8.59 | 7.46 | 7.08 | 8.50 | 7.70 | 7.15 | 6.75 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
6.73 | 6.44 | 5.83 | 8.59 | 7.46 | 7.08 | 8.50 | 7.70 | 7.15 | 6.75 |
Free Cash Flow |
13.07 | (1.34) | (10.76) | (26.68) | (17.14) | (15.79) | (5.55) | (9.40) | (19.26) | 21.03 |
Working Capital |
69.19 | 54.43 | 21.73 | 70.88 | 60.27 | 53.95 | 92.84 | 93.85 | 106.70 | 101.13 |
Capital Expenditures |
(5.63) | (12.87) | (15.94) | (12.52) | (14.06) | (18.70) | (14.44) | (11.93) | (6.09) | 3.92 |
Net Current Asset Value |
15.58 | 7.21 | (10.40) | 59.87 | 49.35 | 48.01 | 92.14 | 93.56 | 106.12 | 97.28 |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.03 | 0.08 | 0.10 | 0.08 | 0.09 | 0.14 | 0.10 | 0.09 | 0.05 | (0.04) |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.34 | 0.25 | 0.25 | 0.21 | 0.39 | 0.28 | 0.26 | 0.41 | 0.53 | 0.49 |
Cash ROIC |
6.03% | (0.69%) | (7.46%) | (12.92%) | (9.71%) | (10.29%) | (2.36%) | (4.33%) | (10.18%) | 10.47% |
Accounts Receivable Turnover |
4.69 | 5.38 | 5.38 | 5.14 | 4.77 | 4.36 | 5.03 | 4.99 | 4.81 | 4.76 |
Accounts Payable Turnover |
11.41 | 7.46 | 5.85 | 6.56 | 7.65 | 8.43 | 5.76 | 7.49 | 17.28 | 18.83 |
Inventory Turnover |
4.69 | 4.15 | 4.16 | 4.49 | 4.20 | 4.35 | 4.47 | 4.52 | 3.74 | 4.39 |
Average Days of Payables |
31.01 | 63.70 | 64.33 | 52.68 | 41.15 | 39.37 | 86.54 | 18.46 | 20.04 | 19.78 |
Days of Inventory on Hand |
76.25 | 92.02 | 88.19 | 82.24 | 89.06 | 65.61 | 96.19 | 73.56 | 106.58 | 65.35 |
Average Receivables |
37.52 | 29.73 | 28.45 | 30.74 | 33.29 | 30.73 | 27.60 | 26.55 | 23.65 | 23.34 |
Average Payables |
8.71 | 12.09 | 16.24 | 15.88 | 13.22 | 10.45 | 14.98 | 12.61 | 4.55 | 4.41 |
Average Inventory |
21.17 | 21.74 | 22.84 | 23.20 | 24.07 | 20.25 | 19.28 | 20.89 | 21.00 | 18.91 |
Average Assets |
213.02 | 198.00 | 191.95 | 193.52 | 191.49 | 176.19 | 182.52 | 184.44 | 163.86 | 153.29 |
Average Common Equity |
112.34 | 106.08 | 102.59 | 124.75 | 140.94 | 130.43 | 143.71 | 152.91 | 143.00 | 134.80 |
Columns are period end dates · fundamentals updated 5 Nov 2026