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KVH Industries Inc (KVHI) fair value: what the stock is really worth

As of Oct 2, 2026: fair value of KVH Industries Inc $9.75, price $7.01, upside +39.1%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Communication Services · US · ISIN US4827381017

KI KVH Industries Inc logo Some data Oct 4, 2026

KVH Industries Inc

KVHI · US

UndervaluedThe stock appears undervalued with acceptable quality.

Fair value $9.75 · Undervalued (+39.1%)
Low debt
Generates free cash flow
Quality 56/100
Mixed vs. peers (7/13)
Some data
Weak Growth (revenue 5y −6.9 %/yr in USD)
Loss-making · -4.7% net margin (TTM)
Narrow moat 12/100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$12.68 $4.33 Fair Value $9.75 Jul 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.

How to read this chart

60‑month range $4.33 – $12.68 · fair‑value band $8.36 – $11.65 · the $7.01 price screens below the $9.75 fair value. Dashed = 300-day average. As of Oct 4, 2026.

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Company profile

KVH Industries, Inc., together with its subsidiaries, designs, develops, manufactures, and markets mobile connectivity and managed services for the marine and land mobile markets.

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KVH Industries, Inc., together with its subsidiaries, designs, develops, manufactures, and markets mobile connectivity and managed services for the marine and land mobile markets. The company offers Internet and VoIP airtime services; AgilePlans, a connectivity as a Service solution; CommBox, a data management software for maritime communications; CommBox Edge, an advanced maritime network optimization and management solution; KVH Link, a crew wellbeing content subscription service; KVH ONE, a global hybrid communication network supporting Internet, VoIP, content delivery, and other; and KVH OneCare, a services and support for TracNet and TracPhone systems. It also provides MOVIElink, a movie distribution solution; MUSIClink, a music and karaoke delivery solution; NEWSlink, a maritime news delivery solution; OpenNet, a KVH VSAT data delivering service for non-KVH Ku-band VSAT terminals; TracNet, an integrated hybrid two-way communication terminal with VSAT, 5G/LTE, and shore-based Wi-Fi; TracPhone, a two-way VSAT-only satellite communications system; TracVision, a satellite television antenna system for vessels, recreational vehicles; TVlink, a television programming delivery solution; and Starlink terminals and data services. It sells its mobile communications products through a network of independent retailers, chain stores, distributors, and service providers, as well as to manufacturers of vessels, maritime equipment, and vehicles in the United States, Singapore, Canada, South American countries, European Union, European countries, Africa, the Middle East, the Asia Pacific, India, and internationally. KVH Industries, Inc. was founded in 1982 and is headquartered in Middletown, Rhode Island.

Stock analysis

KVH Industries Inc (KVHI) currently trades at $7.01, while our model-based Fair Value estimate is $9.75, implying the stock looks roughly 28.1% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $10.74 per share, and 6 of the 7 models we run sit above the $7.01 price.

Bear case: the Asset-Based group reads lowest at $4.84, and 1 of the 7 models stay below the price. Evidence for this calculation is medium.

Scenario range: $8.36 (bear) to $11.65 (bull), the price of $7.01 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 56/100 (solid quality), in the Communication Services sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

KVH Industries Inc reported revenue of $111M in FY2025 versus $134M in FY2021, a compound −4.6%/yr. Reported net income was −$7.4M in FY2025.

Key figures

Market cap $138M · P/S ratio 1.02 · EPS (TTM) $−0.3000 · Net margin −6.7% · Return on equity −4.4% · Return on assets (EBIT) −7.9% · Operating margin −0.2% · Revenue (TTM) $125M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 40% below its 52-week high and 33% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 36% fair-value upside, at 39%, KVHI screens cheaper than that median.

Fair Value models

Bear $8.36 Fair Value $9.75 Bull $11.65
Price $7.01 · Upside +39.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF $7.83 $8.85 $10.26 82
Growth DCF $7.90 $8.85 $10.08 80
5Y Revenue Exit $8.07 $9.96 $12.46 74
All 7 models by family
DCF Models
FCF DCF $7.83 $8.85 $10.26 82
5Y Revenue Exit $8.07 $9.96 $12.46 74
10Y Revenue Exit $7.82 $9.29 $10.99 68
Multiples
EV/Revenue $8.64 $10.74 $12.83 54
Asset-Based
NCAV (Graham) $3.61 $4.84 $7.22 54
Growth DCF
Growth DCF $7.90 $8.85 $10.08 80
Rev-Margin DCF $8.07 $10.04 $12.29 74

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Quality Score breakdown

Overall quality 56/100

Of which business quality 58 · Market factors (momentum, volatility) 41

Profitability 17
Margins and returns on capital today
Quality Growth 37
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 99
Balance sheet, leverage, solvency risk
Investment 91
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 70
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 23/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−2.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−7.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.9%
Start year 2020 (pandemic). Over 10 years: −5.0% a year
Revenue growth 30 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−14.5% (2020) → −10.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

Price in line with expectations
The price assumes about as much growth as the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−4.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −7.0% a year for the price.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 240 stocks

Beats the industry median on 7/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 56 · Above median
Fair Value upside +39.1% · Above median
Profitability
Return on assets −3.6% · Bottom 25%
Net margin (TTM) −4.7% · Bottom 25%
Operating margin (TTM) −0.2% · Bottom 25%
Growth and dividend
Revenue growth 26.7% · Top 25%
Balance sheet
Debt / equity 0.02× · Lowest 25%

Valuation Multiplesvs Telecom Services median · lower = cheaper

P/B 1.05× · Cheaper than median
P/S (TTM) 1.10× · Cheaper than median
P/FCF 14.1× · Pricier than median
EV/EBITDA 57.7× · Priciest 25%
PEG 0.47× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)85 · sector 45
FUTURE (revenue growth)100 · sector 19
PAST (return on equity)0 · sector 34
HEALTH (low debt)99 · sector 84
DIVIDEND (yield)0 · sector 71

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate.

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Verizon Communications Inc VZ $45.87 $70.27 +53%
T-Mobile US, Inc TMUS $162.98 $272.88 +67%
AT&T Inc T $24.48 $51.11 +109%
Bharti Airtel Limited BHARTIARTL ₹1,741 ₹1,883 +8%
China Telecom Corporation 601728 ¥6.16 ¥8.36 +36%
Saudi Telecom Company 7010 43.22 SAR 41.80 SAR −3%
Singapore Telecommunications Limited Z74 4.28 SGD 2.16 SGD −50%
Swisscom AG SCMN CHF 639.00 CHF 505.18 −21%
Telstra Group TLS A$4.83 A$4.43 −8%

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KVH Industries Inc · Fair Value
$9.75 +28%Fair Value
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Cite: Fair Value Calculator (2026). "KVH Industries Inc Fair Value". https://www.fairvalue-calculator.com/stock/KVHI

Frequently asked questions

Is KVH Industries Inc (KVHI) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of $9.75 versus a price of $7.01, about +39% upside (undervalued).
What is the fair value of KVHI?
Our model-based fair value for KVH Industries Inc is $9.75 (as of Oct 4, 2026), built from audited fundamentals. The current price: $7.01.
What is the quality score of KVHI?
KVH Industries Inc has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for KVH Industries Inc (KVHI)?
Our model-based price target is the fair value of $9.75 (as of Oct 4, 2026) from 7 valuation models. Cautious scenario $8.36, optimistic scenario $11.65. It is a calculation from audited fundamentals, not an analyst target.
What is the KVH Industries Inc stock forecast for 2026?
Our models put fair value at $9.75, about +39% upside versus a price of $7.01 (undervalued). Cautious scenario $8.36, optimistic scenario $11.65. The calculation is refreshed regularly with new filings.
What is the revenue of KVH Industries Inc (KVHI)?
KVH Industries Inc reported trailing-twelve-month revenue of about $125M (latest available figure, as of Oct 4, 2026).
What growth is priced into KVH Industries Inc (KVHI)?
For today's price to be fair in a discounted-cash-flow model, KVH Industries Inc would have to grow free cash flow by -4.8 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -6.9 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of KVHI use?
Our models discount KVH Industries Inc at 11.2 %: a base by market capitalisation (micro), damped by beta 0.43, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For KVH Industries Inc that is -4.8 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has KVH Industries Inc (KVHI) delivered so far?
Over the past 5 years revenue at KVH Industries Inc grew -6.9 % a year. The price currently implies -4.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of KVH Industries Inc (KVHI) growing?
The median revenue growth in the sector is +10.4 % a year. That is the yardstick for the growth priced into KVH Industries Inc (-4.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of KVH Industries Inc (KVHI)?
The free-cash-flow yield on the price is 7.07 %: that much free cash flow KVH Industries Inc produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of KVH Industries Inc (KVHI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For KVH Industries Inc it is $9.75 per share (as of Oct 4, 2026), against a price of $7.01. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is KVH Industries Inc stock overvalued or undervalued in 2026?
As of Oct 4, 2026, KVHI trades below its calculated fair value: price $7.01, fair value $9.75, a gap of about +39% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of KVHI?
No. The price is what the market pays today ($7.01); the fair value is what the company's own numbers justify ($9.75). For KVH Industries Inc the two are $2.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is KVH Industries Inc worth?
The market values KVH Industries Inc at about $138M (market capitalisation, as of Oct 4, 2026). Per share that is $7.01; our models calculate a fair value of $9.75 per share.
What do the bullish and bearish scenarios say about KVHI?
Our models span a range for KVH Industries Inc: cautious scenario $8.36, base $9.75, optimistic $11.65 per share (as of Oct 4, 2026, price $7.01). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of KVHI?
The PEG ratio of KVH Industries Inc is 0.47 (P/E divided by earnings growth, as of Oct 4, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of KVH Industries Inc (KVHI)?
Balance-sheet figures for KVH Industries Inc (as of Oct 4, 2026): return on equity −4.4%, debt of 0.02 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is KVHI from its 52-week high?
KVH Industries Inc trades at $7.01, about 40% below its 52-week high of $11.69 and 33% above the low of $5.26 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $9.75 is for.
Which stocks are comparable to KVH Industries Inc?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is KVH Industries Inc stock attractive at the current price?
The data as of Oct 4, 2026: price $7.01, calculated fair value $9.75 (+39%), Quality Score 56/100, from 7 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of KVHI calculated?
We run KVH Industries Inc through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $9.75, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0 % above its aggregate fair value. KVH Industries Inc currently trades 28 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of KVH Industries Inc (KVHI)?
The closing price on Oct 2, 2026 was $7.01. Our model-based fair value is $9.75, about +39% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with KVH Industries Inc right now?
The price is below even our cautious bear case ($8.36). The market is more pessimistic than our downside scenario. Solid quality (56/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of KVH Industries Inc

How large is the market capitalisation of KVH Industries Inc (KVHI)?
The market capitalisation of KVH Industries Inc is $138M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of KVH Industries Inc (KVHI)?
The price-to-sales ratio of KVH Industries Inc is 1.02 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of KVH Industries Inc (KVHI)?
Earnings per share at KVH Industries Inc are $−0.3000. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of KVH Industries Inc (KVHI)?
The net margin of KVH Industries Inc is −6.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of KVH Industries Inc (KVHI)?
The return on equity (ROE) of KVH Industries Inc is −4.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of KVH Industries Inc (KVHI)?
On an EBIT basis the return on assets of KVH Industries Inc is −7.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of KVH Industries Inc (KVHI)?
The operating margin of KVH Industries Inc is −0.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at KVH Industries Inc (KVHI)?
Revenue at KVH Industries Inc is growing +26.7% versus a year earlier (3y avg −7.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at KVH Industries Inc (KVHI)?
Earnings per share at KVH Industries Inc are growing −82.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does KVH Industries Inc (KVHI) hold?
KVH Industries Inc holds more cash than debt, $65.5M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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