Saturday 17 October 2026 Export KVHI’s income statement to Excel — free account

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. In the quarter to June 2026, revenue grew 26.7%, EPS fell 80.0% and free cash flow fell 95.8%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

5.92 0.10 −1.66%

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Market cap: $109.2M
P/E: 0.0×
Fwd P/E: 47.0×
Dividend yield: —
F-score: 5/9
Altman Z: 5.06
Beneish M: −2.50
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 1.01

Total sells 0.49

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	2	1	—	1	—	—	—	—	—	—	—	—
Sell	—	—	—	2	2	—	1	2	—	—	—	1

Insider Ownership 45.81%

Capital & Financial Ratios $m

Market Cap 109.21

Revenue 125.01

Net Income (5.85)

Free Cash Flow 4.22

Net Debt (57.72)

Current Ratio 7.07

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E 47.00

P/S ratio 0.92

P/B ratio 0.88

Past 5Y EPS Growth —

This Y EPS Growth 150.00%

Next Y EPS Growth 278.95%

Next Y revenue growth 27.74%

Next 5Y EPS Growth 30.00%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 27.87%

10-year low 10-year high

P/B against its own 10 years 21.23%

10-year low 10-year high

EV/Sales against its own 10 years 16.55%

10-year low 10-year high

EV/FCF against its own 10 years 45.96%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	70	51	70	58
Receivables	26	22	25	29
Inventory	19	23	15	12
Other	—	11	—	—
	119	123	118	118

	2023	2024	2025	Q'26
Payables	5	4	4	7
ST’ Debt	—	—	—	—
Other	—	—	—	—
	25	16	17	17

Compound Annual Growth %

	10y	5y	3y
Sales	(4.96%)	(6.90%)	(7.17%)
Cash Flow	7.38%	0.00%	24.37%
Earnings	0.00%	0.00%	0.00%
Book Value	1.03%	(0.14%)	(6.15%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	32	34	—	—	—
’25	25	27	28	31	111
’24	29	29	29	27	114
’23	34	34	33	31	132
’22	33	35	35	36	139
’21	42	43	34	14	134
’20	37	37	41	44	159

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(8)	2	—	—	—
’25	(1)	5	10	3	17
’24	(1)	(15)	2	0	(13)
’23	(7)	4	1	5	3
’22	(4)	0	2	10	9
’21	5	0	(3)	1	3
’20	(3)	0	0	0	(3)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(11)	0	—	—	—
’25	(2)	8	17	(2)	21
’24	(3)	(17)	0	1	(19)
’23	(9)	1	(2)	0	(9)
’22	(8)	(3)	(1)	7	(6)
’21	0	(6)	(8)	(3)	(16)
’20	(6)	(4)	(3)	(4)	(17)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.03	0.01	—	—	—
’25	(0.09)	0.05	(0.36)	0.02	(0.38)
’24	(0.16)	(0.12)	(0.06)	(0.22)	(0.57)
’23	0.02	0.05	(0.22)	(0.63)	(0.81)
’22	(0.25)	(0.08)	1.58	0.03	1.29
’21	(0.22)	(0.31)	0.22	(0.22)	(0.54)
’20	(0.35)	(0.20)	(0.03)	(0.65)	(1.24)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	7.31	7.65	9.05	8.64	6.36	8.67	6.89	4.30	4.17	4.69	Analyst estimates 2026–2028 Powerpack
	High	12.75	12.65	14.15	11.89	11.86	15.29	11.88	12.10	6.00	7.67
People
People	Employees	635	604	715	604	629	648	397	345	260	300
	Revenue/emp, $m	0.28	0.27	0.21	0.26	0.25	0.21	0.35	0.38	0.44	0.37
Income, $m
Income, $m	Revenue	176	160	153	158	159	134	139	132	114	111
	Gross margin, %	43.62	43.68	37.95	34.04	36.29	34.22	37.84	28.61	30.94	25.24
	EBT	(2)	(10)	(11)	(20)	(22)	(12)	(3)	(15)	(11)	(8)
	EBT margin, %	(1.12)	(6.21)	(7.25)	(12.67)	(13.71)	(8.70)	(2.49)	(11.41)	(9.34)	(6.77)
	Net income	(8)	(11)	(8)	33	(22)	(10)	24	(15)	(11)	(7)
	Depreciation	13	11	13	11	22	15	14	19	14	11
Per share, $
Per share, $	Revenue	11.12	9.75	8.96	9.04	8.98	7.35	7.45	6.92	5.87	5.72
	Earnings	(0.47)	(0.67)	(0.48)	1.90	(1.24)	(0.54)	1.29	(0.81)	(0.57)	(0.38)
	Cash flow	1.18	0.70	0.30	(0.81)	(0.17)	0.16	0.48	0.13	(0.68)	0.88
	Capex	(0.36)	(0.78)	(0.93)	(0.72)	(0.80)	(1.03)	(0.78)	(0.62)	(0.31)	0.20
	Free cash flow	0.83	(0.08)	(0.63)	(1.53)	(0.97)	(0.87)	(0.30)	(0.49)	(0.99)	1.08
	Book value	6.73	6.44	5.83	8.59	7.46	7.08	8.50	7.70	7.15	6.75
	Shares, m	16	16	17	17	18	18	19	19	19	19
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	5.89	0.00	0.00	7.86	0.00	0.00	0.00
	P/S	1.03	1.06	1.15	1.23	1.26	1.25	1.35	0.78	0.97	1.22
	P/B	1.71	1.60	1.77	1.30	1.52	1.30	1.18	0.70	0.80	1.03
	EV/Sales	1.07	1.08	1.24	0.98	1.07	1.12	0.85	0.31	0.59	0.66
	EV/FCF	14.39	(128.91)	(17.60)	(5.78)	(9.90)	(9.54)	(21.33)	(4.35)	(3.50)	3.49
Cash, $m
Cash, $m	Operating cash flow	19	12	5	(14)	(3)	3	9	3	(13)	17
	Capex	(6)	(13)	(16)	(13)	(14)	(19)	(14)	(12)	(6)	4
	Free cash flow	13	(1)	(11)	(27)	(17)	(16)	(6)	(9)	(19)	21
Balance, $m
Balance, $m	Working capital	69	54	22	71	60	54	93	94	107	101
	Total debt	58	47	29	8	7	3	2	—	—	—
	Net debt	6	4	14	(40)	(31)	(25)	(77)	(70)	(51)	(70)
	Shareholders’ equity	107	106	100	150	132	129	158	147	139	131
Returns, %
Returns, %	ROA	(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)
	ROE	(6.69)	(10.40)	(8.02)	26.66	(15.57)	(7.49)	16.72	(10.09)	(7.73)	(5.48)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ATNI ATN International, Inc.	$398.3M	2.5×	41.5×	+1.77% (above 0%: growing)	n/m	+71.51% (above 0%: growing)	56.94%	129.93%	Compare
OPTU Optimum Communications, Inc.	$365.5M	— (loss-making)	— (loss-making)	−5.75% (below 0%: shrinking)	n/m	−359.11% (below 0%: shrinking)	70.96%	8.21%	Compare
GOGO Gogo Inc.	$304.9M	2,130×	11.7×	−1.43% (below 0%: shrinking)	n/m	−34.40% (below 0%: shrinking)	42.01%	13.31%	Compare
CXDO Crexendo Inc.	$188.5M	39.1×	43.0×	+48.90% (above 0%: growing)	−25.00% (below 0%: shrinking)	+115.43% (above 0%: growing)	65.69%	4.28%	Compare
RDCM Radcom Ltd.	$171.4M	23.4×	— (loss-making)	−33.40% (below 0%: shrinking)	n/m	+3,354.69% (above 0%: growing)	75.08%	(31.95%)	Compare
KVHI KVH Industries, Inc.	$109.2M	— (loss-making)	47.0×	+26.67% (above 0%: growing)	−80.00% (below 0%: shrinking)	−95.84% (below 0%: shrinking)	30.63%	(0.23%)
PCLA PicoCELA Inc.	$64.4M	—	—	—	—	+33.38% (above 0%: growing)	—	—	Compare
CABO Cable One, Inc.	$48.1M	— (loss-making)	1.9×	−8.44% (below 0%: shrinking)	n/m	−38.89% (below 0%: shrinking)	71.71%	(150.44%)	Compare
ELWT Elauwit Connection, Inc.	$36.9M	— (loss-making)	— (loss-making)	−46.38% (below 0%: shrinking)	n/m	−3,204.65% (below 0%: shrinking)	15.51%	(108.54%)	Compare
Median of peers	$180.0M	31.2×	26.6×	−5.75%	—	−0.51%	65.69%	4.28%

All 55 Telecom Services stocks →

KVH Industries, Inc. (KVHI) key facts

Concern: KVH Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $111.0 million, down 2.48% from fiscal 2024.
KVH Industries, Inc. (KVHI) is a Telecom Services company in the Communication Services sector, listed on Nasdaq.
As of October 16, 2026, KVHI traded at $5.92, a market capitalization of $109.2 million.
Return on equity was −5.48% and debt-to-equity 0.00.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 5.06 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.