Versant Media Financials

VSNT

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Versant Media (VSNT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VSNT FY2025 2026-05-14

Low-capex cash generation still defines the model, but rising overhead is taking a larger bite from each revenue dollar.

Between FY2023 and FY2025, revenue slipped 10.2% while operating income fell 38.5%. Because gross margin stayed above 56.0% even as SG&A rose from $1.2B to $1.5B, the business is feeling more pressure from overhead absorption than from deterioration in its core gross-profit engine.

Cash conversion is stronger than net income suggests: FY2025 operating cash flow of $2.0B was more than double net income of $930M. With depreciation and amortization near $1.0B and capex only $167M, reported profit carries much more non-cash weight than the underlying cash profile.

The balance sheet is acquisition-shaped, with goodwill at roughly 61.7% of FY2025 assets, yet leverage remains modest after adding $983M of long-term debt. A 4.0x current ratio means the recent earnings squeeze is occurring alongside ample short-term liquidity, not because the company is starved for near-term balance-sheet capacity.

Financial Health Signals

Financial Profile 68/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Versant Media's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Versant Media has an operating margin of 19.0%, meaning the company retains $19 of operating profit per $100 of revenue. This strong profitability earns a score of 73/100, reflecting efficient cost management and pricing power. This is down from 26.1% the prior year.

Growth

Versant Media's revenue declined 5.3% year-over-year, from $7.1B to $6.7B. This contraction results in a growth score of 25/100.

Leverage

100

Versant Media carries a low D/E ratio of 0.10, meaning only $0.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.02, Versant Media holds $4.02 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 79/100.

Cash Flow

Versant Media converts 27.7% of revenue into free cash flow ($1.9B). This strong cash generation earns a score of 99/100.

Returns

Versant Media's ROE of 9.0% shows moderate profitability relative to equity, earning a score of 35/100. This is down from 12.6% the prior year.

Altman Z-Score Grey Zone

2.84

Versant Media scores 2.84, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($6.0B) relative to total liabilities ($2.0B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral

4/9

Versant Media passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.17x

For every $1 of reported earnings, Versant Media generates $2.17 in operating cash flow ($2.0B OCF vs $930.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe

97.8x

Versant Media earns $97.8 in operating income for every $1 of interest expense ($1.3B vs $13.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$6.7B

YoY-5.3%

Versant Media generated $6.7B in revenue in fiscal year 2025. This represents a decrease of 5.3% from the prior year.

EBITDA

$2.3B

YoY-19.4%

Versant Media's EBITDA was $2.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.4% from the prior year.

Net Income

$930.0M

YoY-31.8%

Versant Media reported $930.0M in net income in fiscal year 2025. This represents a decrease of 31.8% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$1.9B

YoY-14.0%

Versant Media generated $1.9B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 14.0% from the prior year.

Cash & Debt

$55.0M

YoY+587.5%

Versant Media held $55.0M in cash against $983.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

56.1%

YoY-0.5pp

Versant Media's gross margin was 56.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.5 percentage points from the prior year.

Operating Margin

19.0%

YoY-7.0pp

Versant Media's operating margin was 19.0% in fiscal year 2025, reflecting core business profitability. This is down 7.0 percentage points from the prior year.

Net Margin

13.9%

YoY-5.4pp

Versant Media's net profit margin was 13.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.4 percentage points from the prior year.

Return on Equity

9.0%

YoY-3.6pp

Versant Media's ROE was 9.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$167.0M

YoY+209.3%

Versant Media invested $167.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 209.3% from the prior year.

VSNT Income Statement

Metric	FY25	FY24	FY23
Revenue	$6.7B-5.3%	$7.1B-5.1%	$7.4B
Cost of Revenue	$2.9B-4.1%	$3.1B-2.9%	$3.2B
Gross Profit	$3.8B-6.2%	$4.0B-6.8%	$4.3B
R&D Expenses	N/A	N/A	N/A
SG&A Expenses	$1.5B+25.9%	$1.2B-5.2%	$1.2B
Operating Income	$1.3B-30.9%	$1.8B-11.0%	$2.1B
Interest Expense	$13.0M	$0	$0
Income Tax	$297.0M-37.9%	$478.0M-9.8%	$530.0M
Net Income	$930.0M-31.8%	$1.4B-11.4%	$1.5B
EPS (Diluted)	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Revenue	$1.7B	N/A	$1.7B	N/A
Cost of Revenue	$638.0M	N/A	$654.0M	N/A
Gross Profit	$1.0B	N/A	$1.1B	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$351.0M	N/A	$307.0M	N/A
Operating Income	$442.0M	N/A	$499.0M	N/A
Interest Expense	$52.0M	N/A	$0	N/A
Income Tax	$112.0M	N/A	$132.0M	N/A
Net Income	$286.0M	N/A	$367.0M	N/A
EPS (Diluted)	$1.99	N/A	$2.55	N/A

VSNT Balance Sheet

Metric	FY25	FY24	FY23
Total Assets	$12.3B+2.4%	$12.0B	N/A
Current Assets	$2.5B+89.8%	$1.3B	N/A
Cash & Equivalents	$55.0M+587.5%	$8.0M-65.2%	$23.0M
Inventory	N/A	N/A	N/A
Accounts Receivable	$1.2B-7.6%	$1.2B	N/A
Goodwill	$7.6B-1.6%	$7.7B0.0%	$7.7B
Total Liabilities	$2.0B+63.0%	$1.3B	N/A
Current Liabilities	$622.0M+5.4%	$590.0M	N/A
Long-Term Debt	$983.0M	$0	N/A
Total Equity	$10.3B-4.7%	$10.8B-7.5%	$11.7B
Retained Earnings	$0	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Total Assets	$12.5B+1.4%	$12.3B	N/A	$12.0B
Current Assets	$2.6B+5.9%	$2.5B	N/A	$1.3B
Cash & Equivalents	$1.2B+2069.1%	$55.0M+1000.0%	$5.0M-37.5%	$8.0M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	$1.2B+3.6%	$1.2B	N/A	$1.2B
Goodwill	$7.7B+1.3%	$7.6B	N/A	$7.7B
Total Liabilities	$4.5B+119.1%	$2.0B	N/A	$1.3B
Current Liabilities	$1.1B+83.3%	$622.0M	N/A	$590.0M
Long-Term Debt	$2.9B+191.9%	$983.0M	N/A	$0
Total Equity	$8.0B-21.9%	$10.3B-5.0%	$10.8B+0.4%	$10.8B
Retained Earnings	$231.0M	$0	N/A	N/A

VSNT Cash Flow Statement

Metric	FY25	FY24	FY23
Operating Cash Flow	$2.0B-8.5%	$2.2B-8.9%	$2.4B
Capital Expenditures	$167.0M+209.3%	$54.0M-3.6%	$56.0M
Free Cash Flow	$1.9B-14.0%	$2.2B-9.1%	$2.4B
Investing Cash Flow	-$155.0M-118.3%	-$71.0M-18.3%	-$60.0M
Financing Cash Flow	-$782.0M+63.7%	-$2.2B+8.5%	-$2.4B
Dividends Paid	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Operating Cash Flow	$585.0M	N/A	$478.0M	N/A
Capital Expenditures	$27.0M	N/A	$21.0M	N/A
Free Cash Flow	$558.0M	N/A	$457.0M	N/A
Investing Cash Flow	-$172.0M	N/A	-$23.0M	N/A
Financing Cash Flow	-$309.0M	N/A	-$458.0M	N/A
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	$100.0M	N/A	$0	N/A

VSNT Financial Ratios

Metric	FY25	FY24	FY23
Gross Margin	56.1%-0.5pp	56.6%-1.0pp	57.6%
Operating Margin	19.0%-7.0pp	26.1%-1.7pp	27.8%
Net Margin	13.9%-5.4pp	19.3%-1.4pp	20.7%
Return on Equity	9.0%-3.6pp	12.6%-0.6pp	13.2%
Return on Assets	7.5%-3.8pp	11.3%	N/A
Current Ratio	4.02+1.8	2.23	N/A
Debt-to-Equity	0.10+0.1	0.00	N/A
FCF Margin	27.7%-2.8pp	30.5%-1.3pp	31.9%

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Gross Margin	62.2%	N/A	61.7%	N/A
Operating Margin	26.2%	N/A	29.3%	N/A
Net Margin	17.0%	N/A	21.5%	N/A
Return on Equity	3.6%	N/A	3.4%	N/A
Return on Assets	2.3%	N/A	N/A	N/A
Current Ratio	2.32-1.7	4.02	N/A	2.23
Debt-to-Equity	0.36+0.3	0.10	N/A	0.00
FCF Margin	33.1%	N/A	26.8%	N/A

Frequently Asked Questions

What is Versant Media's annual revenue?

Versant Media (VSNT) reported $6.7B in total revenue for fiscal year 2025. This represents a -5.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Versant Media's revenue growing?

Versant Media (VSNT) revenue declined by 5.3% year-over-year, from $7.1B to $6.7B in fiscal year 2025.

Is Versant Media profitable?

Yes, Versant Media (VSNT) reported a net income of $930.0M in fiscal year 2025, with a net profit margin of 13.9%.

What is Versant Media's EBITDA?

Versant Media (VSNT) had EBITDA of $2.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Versant Media have?

As of fiscal year 2025, Versant Media (VSNT) had $55.0M in cash and equivalents against $983.0M in long-term debt.

What is Versant Media's gross margin?

Versant Media (VSNT) had a gross margin of 56.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Versant Media's operating margin?

Versant Media (VSNT) had an operating margin of 19.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Versant Media's net profit margin?

Versant Media (VSNT) had a net profit margin of 13.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Versant Media's return on equity (ROE)?

Versant Media (VSNT) has a return on equity of 9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Versant Media's free cash flow?

Versant Media (VSNT) generated $1.9B in free cash flow during fiscal year 2025. This represents a -14.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Versant Media's operating cash flow?

Versant Media (VSNT) generated $2.0B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Versant Media's total assets?

Versant Media (VSNT) had $12.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Versant Media's capital expenditures?

Versant Media (VSNT) invested $167.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Versant Media's current ratio?

Versant Media (VSNT) had a current ratio of 4.02 as of fiscal year 2025, which is generally considered healthy.

What is Versant Media's debt-to-equity ratio?

Versant Media (VSNT) had a debt-to-equity ratio of 0.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Versant Media's return on assets (ROA)?

Versant Media (VSNT) had a return on assets of 7.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Versant Media's Altman Z-Score?

Versant Media (VSNT) has an Altman Z-Score of 2.84, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Versant Media's Piotroski F-Score?

Versant Media (VSNT) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Versant Media's earnings high quality?

Versant Media (VSNT) has an earnings quality ratio of 2.17x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Versant Media cover its interest payments?

Versant Media (VSNT) has an interest coverage ratio of 97.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Versant Media?

Versant Media (VSNT) scores 68 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.