InterDigital vs Viavi Solutions
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KIRA’s take AI analyst
I put InterDigital and Viavi Solutions side by side, using each one’s latest annual report. Here is what stands out:
- Viavi Solutions is the larger business, with $1.5B of revenue in fiscal 2026 against $834M for InterDigital, about 1.8 times as much.
- Viavi Solutions grew revenue faster (40.0%, against −4.0%).
- InterDigital kept more of each dollar of sales as operating profit (55.3% operating margin, against 6.9%).
- InterDigital turned more of its sales into free cash flow (63.4% FCF margin, against 5.5%).
- InterDigital earned a higher return on the capital invested in it (113.5%, against 4.3%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
InterDigital
IDCC
7/10
5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
Viavi Solutions
VIAV
2/10
Revenue growthShare count change
Side by side
Best in the row
| Latest fiscal year | IDCC FY25 | VIAV FY26 |
|---|---|---|
| Size | ||
| Market cap | $11.2B | $7.0B |
| Revenue | $834M | $1.5B |
| Free cash flow | $529M | $82.8M |
| Net income | $407M | −$30.4M |
| Growth | ||
| Revenue growth | −4.0% | 40.0% |
| 5-year growth | 18.4% | 4.8% |
| Share count change | 16.0% | 1.7% |
| Profitability | ||
| Gross margin | — | 57.7% |
| Operating margin | 55.3% | 6.9% |
| Net margin | 48.8% | −2.0% |
| FCF margin | 63.4% | 5.5% |
| Return on capital | 113.5% | 4.3% |
| Return on equity | 41.5% | −2.7% |
| Balance sheet | ||
| Net debt | −$769M | −$7.9M |
| Net debt / EBITDA | −1.4x | −0.1x |
| Dividends and buybacks | $163M | $30.0M |
| Valuation & quality | ||
| P/E | 38.1x | — |
| Piotroski F-score | 6 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.