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Side-by-side financial comparison of BREAD FINANCIAL HOLDINGS, INC. (BFH) and VIASAT INC (VSAT). Click either name above to swap in a different company.
VIASAT INC is the larger business by last-quarter revenue ($1.2B vs $975.0M, roughly 1.2× BREAD FINANCIAL HOLDINGS, INC.). On growth, BREAD FINANCIAL HOLDINGS, INC. posted the faster year-over-year revenue change (5.4% vs 3.0%). Over the past eight quarters, VIASAT INC's revenue compounded faster (0.3% CAGR vs -0.8%).
Bread Financial Holdings, Inc. is an American publicly traded provider of private label credit cards, coalition loyalty programs, and direct marketing, derived from the capture and analysis of transaction-rich data.
Viasat, Inc. is an American communications company based in Carlsbad, California, with additional operations across the United States and worldwide. Viasat is a provider of high-speed satellite broadband services and secure networking systems covering military and commercial markets.
BFH vs VSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $975.0M | $1.2B |
| Net Profit | — | $25.0M |
| Gross Margin | — | — |
| Operating Margin | 4.9% | 2.3% |
| Net Margin | — | 2.2% |
| Revenue YoY | 5.4% | 3.0% |
| Net Profit YoY | — | 115.8% |
| EPS (diluted) | $1.21 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $975.0M | $1.2B | ||
| Q3 25 | $971.0M | $1.1B | ||
| Q2 25 | $929.0M | $1.2B | ||
| Q1 25 | $970.0M | $1.1B | ||
| Q4 24 | $925.0M | $1.1B | ||
| Q3 24 | $983.0M | $1.1B | ||
| Q2 24 | $939.0M | $1.1B | ||
| Q1 24 | $991.0M | $1.2B |
| Q4 25 | — | $25.0M | ||
| Q3 25 | $188.0M | $-61.4M | ||
| Q2 25 | $139.0M | $-56.4M | ||
| Q1 25 | $138.0M | $-246.1M | ||
| Q4 24 | — | $-158.4M | ||
| Q3 24 | $2.0M | $-137.6M | ||
| Q2 24 | $133.0M | $-32.9M | ||
| Q1 24 | $134.0M | $-100.3M |
| Q4 25 | 4.9% | 2.3% | ||
| Q3 25 | 20.2% | 3.1% | ||
| Q2 25 | 18.7% | 4.0% | ||
| Q1 25 | 20.3% | -13.4% | ||
| Q4 24 | -2.9% | 1.9% | ||
| Q3 24 | 4.1% | -2.2% | ||
| Q2 24 | 19.2% | 5.3% | ||
| Q1 24 | 19.0% | 0.0% |
| Q4 25 | — | 2.2% | ||
| Q3 25 | 19.4% | -5.4% | ||
| Q2 25 | 15.0% | -4.8% | ||
| Q1 25 | 14.2% | -21.5% | ||
| Q4 24 | — | -14.1% | ||
| Q3 24 | 0.2% | -12.3% | ||
| Q2 24 | 14.2% | -2.9% | ||
| Q1 24 | 13.5% | -8.7% |
| Q4 25 | $1.21 | $0.18 | ||
| Q3 25 | $3.96 | $-0.45 | ||
| Q2 25 | $2.94 | $-0.43 | ||
| Q1 25 | $2.78 | $-1.92 | ||
| Q4 24 | $0.08 | $-1.23 | ||
| Q3 24 | $0.05 | $-1.07 | ||
| Q2 24 | $2.66 | $-0.26 | ||
| Q1 24 | $2.70 | $-1.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.6B | $1.3B |
| Total DebtLower is stronger | $4.3B | $6.2B |
| Stockholders' EquityBook value | $3.3B | $4.6B |
| Total Assets | $22.7B | $14.9B |
| Debt / EquityLower = less leverage | 1.29× | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.6B | $1.3B | ||
| Q3 25 | $3.8B | $1.2B | ||
| Q2 25 | $3.8B | $1.2B | ||
| Q1 25 | $4.2B | $1.6B | ||
| Q4 24 | $4.0B | $1.6B | ||
| Q3 24 | $3.5B | $3.5B | ||
| Q2 24 | $4.1B | $1.8B | ||
| Q1 24 | $3.8B | $1.9B |
| Q4 25 | $4.3B | $6.2B | ||
| Q3 25 | $3.8B | $6.5B | ||
| Q2 25 | $4.2B | $6.5B | ||
| Q1 25 | $5.1B | $6.5B | ||
| Q4 24 | $5.6B | $6.5B | ||
| Q3 24 | $4.6B | $6.4B | ||
| Q2 24 | — | $7.1B | ||
| Q1 24 | — | $7.1B |
| Q4 25 | $3.3B | $4.6B | ||
| Q3 25 | $3.3B | $4.5B | ||
| Q2 25 | $3.2B | $4.6B | ||
| Q1 25 | $3.1B | $4.6B | ||
| Q4 24 | $3.1B | $4.8B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $3.2B | $5.0B | ||
| Q1 24 | $3.0B | $5.0B |
| Q4 25 | $22.7B | $14.9B | ||
| Q3 25 | $21.7B | $14.8B | ||
| Q2 25 | $21.8B | $14.9B | ||
| Q1 25 | $22.4B | $15.4B | ||
| Q4 24 | $22.9B | $15.6B | ||
| Q3 24 | $21.7B | $17.8B | ||
| Q2 24 | $22.1B | $16.1B | ||
| Q1 24 | $22.3B | $16.3B |
| Q4 25 | 1.29× | 1.37× | ||
| Q3 25 | 1.14× | 1.44× | ||
| Q2 25 | 1.34× | 1.43× | ||
| Q1 25 | 1.67× | 1.43× | ||
| Q4 24 | 1.82× | 1.37× | ||
| Q3 24 | 1.47× | 1.30× | ||
| Q2 24 | — | 1.42× | ||
| Q1 24 | — | 1.42× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $568.0M | $726.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 29.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $568.0M | $726.9M | ||
| Q3 25 | $605.0M | $282.2M | ||
| Q2 25 | $526.0M | $258.5M | ||
| Q1 25 | $393.0M | $298.4M | ||
| Q4 24 | $479.0M | $219.5M | ||
| Q3 24 | $456.0M | $239.2M | ||
| Q2 24 | $477.0M | $151.1M | ||
| Q1 24 | $447.0M | $232.0M |
| Q4 25 | — | 29.11× | ||
| Q3 25 | 3.22× | — | ||
| Q2 25 | 3.78× | — | ||
| Q1 25 | 2.85× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 228.00× | — | ||
| Q2 24 | 3.59× | — | ||
| Q1 24 | 3.34× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFH
Segment breakdown not available.
VSAT
| Products | $334.2M | 29% |
| Aviation Services | $303.7M | 26% |
| Government Satcom Services | $202.4M | 17% |
| Maritime Services | $114.9M | 10% |
| Information Security And Cyber Defense Products | $97.0M | 8% |
| Tactical Networking Products | $93.9M | 8% |
| Navarino Uk And Jsat Mobile | $15.5M | 1% |
| Advanced Technologies And Other Products | $6.1M | 1% |
