Belden Inc (BDC) vs Viasat Inc. (VSAT)

Belden Inc and Viasat Inc. are both Communication Equipment companies. Viasat Inc. is the larger, with a market value of $10.2B against $4.3B — 2.4× the size. Viasat Inc. has negative trailing earnings, so its P/E is not meaningful; Belden Inc trades at 18.0×. Belden Inc grew revenue faster over the last twelve months: 9.44% against 1.35%. Belden Inc has the higher net margin (8.52% vs −0.64%) and the higher return on invested capital (9.40% vs 0.72%). Across the 20 metrics below, Belden Inc leads on 15 and Viasat Inc. on 5.

Valuation

Metric BDC VSAT Communication Equipment median
P/E 18.05 n/m 33.61
P/S 1.53 2.16 2.16
P/B 3.16 2.12 2.40
Price to free cash flow 19.71 28.44 25.02
EV/EBITDA 11.06 10.25 13.78
EV/Sales 1.84 3.18 2.27
Earnings yield 5.54% (0.33%) (0.65%)
Free cash flow yield 5.07% 3.52% 1.61%

Profitability

Metric BDC VSAT Communication Equipment median
Gross margin 37.64% 33.22% 39.47%
Operating margin 11.90% 2.35% 2.39%
Net margin 8.52% (0.64%) (0.74%)
Free cash flow margin 7.41% 12.50% 1.39%
Return on equity 18.64% (0.63%) (1.91%)
Return on assets 7.01% (0.20%) (0.20%)
Return on invested capital 9.40% 0.72% 0.72%

Growth

Metric BDC VSAT Communication Equipment median
Revenue growth (TTM) 9.44% 1.35% 11.48%
EPS growth (last fiscal year) 23.13% 94.42% —
Revenue growth, 5-year CAGR 9.16% 19.29% 4.92%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BDC VSAT Communication Equipment median
Debt to equity 0.89 1.37 0.06
Current ratio 2.14 1.68 2.01
Net debt to EBITDA 2.01 3.21 0.67

Dividend

Metric BDC VSAT Communication Equipment median
Dividend yield 0.24% — 2.63%
Payout ratio 0.03 0.00 0.00

Size

Metric BDC VSAT Communication Equipment median
Market cap 4.33b 10.20b 563.45m

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