Viavi Solutions Inc.
VIAV Technology Communication Equipment
Viavi Solutions Inc.’s revenue for fiscal 2026 (year ended June 2026) was $1.5 billion, up 40.0% from fiscal 2025. In the quarter to June 2026, revenue grew 52.5%, EPS grew 250.0%, free cash flow grew 6,100.0% and total debt was flat, each against the same quarter a year earlier.
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Viavi Solutions Inc. (VIAV) Altman Z-score
Viavi Solutions Inc.'s Altman Z-score for fiscal 2026 is −29.88, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | −29.88 | 17.08 |
| FY2025 | −46.97 | 7.27 |
| FY2024 | −54.24 | (4.03) |
| FY2023 | −50.21 | 0.01 |
| FY2022 | −50.22 | (3.84) |
| FY2021 | −46.38 | 5.35 |
| FY2020 | −51.73 | (1.05) |
| FY2019 | −50.68 | (4.63) |
| FY2018 | −46.05 | (2.38) |
| FY2017 | −43.67 | 12.20 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.21 | — | 0.26 | |
| Retained earnings / total assets | (25.76) | — | −36.06 | |
| EBIT / total assets | 0.04 | — | 0.13 | |
| Market value of equity / total liabilities | 8.72 | — | 5.23 | |
| Sales / total assets | 0.56 | — | 0.56 | |
| Altman Z-score | Distress zone | −29.88 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −81.10 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| ASTS AST SpaceMobile, Inc. compare | 4.4× |
| DGII Digi International Inc. compare | 4.0× |
| ZBRA Zebra Technologies Corporation compare | 3.3× |
| BDC Belden Inc compare | 3.1× |
| AAOI Applied Optoelectronics, Inc. compare | 3.0× |
| EXTR Extreme Networks, Inc. compare | 2.5× |
| ONDS Ondas Holdings Inc. compare | 1.9× |
| VSAT Viasat Inc. compare | 0.8× |
| VIAV Viavi Solutions Inc. | −29.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets