A Business at a Glance
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EchoStar CORP
SATS
$26.5B
Mkt Cap
EchoStar CORP (SATS) has a 5-year average return on invested capital (ROIC) of 7.3%. This is below average and may indicate limited pricing power.
EchoStar CORP (SATS) has a market capitalization of $34.1B. It is classified as a large-cap stock.
EchoStar CORP (SATS) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.14%.
EchoStar CORP (SATS) operates in the Communications Services, Nec industry, within the Communication Services sector.
EchoStar CORP (SATS) reported annual revenue of $15.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
EchoStar CORP (SATS) has a net profit margin of -96.6%. The company is currently unprofitable.
EchoStar CORP (SATS) generated $-1.1 billion in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
EchoStar Corporation is a diversified telecommunications and satellite services holding company operating through multiple business segments including pay TV, wireless retail, and satellite-based broadband and enterprise services. The company generates revenue through subscription-based pay TV services, wireless retail operations (prepaid and postpaid), and satellite broadband and managed services delivered through its Hughes division, which serves both consumer and enterprise customers. EchoStar's business model combines traditional terrestrial wireless operations with satellite-based connectivity, leveraging spectrum licenses and proprietary satellite technology including flat-panel electronically steered antenna systems manufactured in U.S. facilities. The company operates a capital-intensive infrastructure business requiring significant network deployment and spectrum investment, with distribution through direct retail channels and enterprise partnerships. EchoStar's competitive differentiation rests on its integrated satellite and terrestrial network capabilities, proprietary antenna technology, and spectrum holdings, serving customers across consumer pay TV, wireless, and enterprise broadband markets primarily in the United States.
【Spectrum portfolio restructuring underway】 Management is navigating significant regulatory and strategic changes following FCC review of spectrum utilization, having agreed to sell material spectrum licenses to AT&T and SpaceX in exchange for cash proceeds and equity stakes. The company is repositioning its 5G network deployment and expects to optimize operations across recently launched markets including New York, New Jersey, and Chicago as device availability increases and network coverage expands. Management anticipates positive net subscriber growth in the retail wireless business by year-end and expects Hughes enterprise revenues to exceed 50% of divisional revenue, with continued momentum in satellite broadband customer migrations and LEO terminal shipments. The company is targeting positive operating free cash flow through operational efficiencies and a significant reduction in annual capital expenditures compared to prior years.
No forward guidance provided.
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2023 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 15.0B | 15.0B | 15.8B | 17.0B | 18.6B | 19.8B |
| Net Income | -14.5B | -14.5B | -120M | -1.7B | 2.5B | 2.5B |
| EPS | $-50.41 | $-50.41 | $-0.44 | $-6.28 | $8.05 | $7.94 |
| Free Cash Flow | -1.1B | -1.1B | -292M | -668M | 571M | 3.0B |
| ROIC | -40.2% | -41.3% | -0.3% | -0.9% | 12.8% | 66.2% |
| Gross Margin | 37.1% | 37.1% | 36.0% | 44.1% | 45.7% | 45.9% |
| Debt/Equity | 5.37 | 5.37 | 1.50 | 1.32 | 0.28 | 0.49 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -17.7B | -17.7B | -304M | -278M | 2.2B | 3.4B |
| Operating Margin | -118.1% | -118.1% | -1.9% | -1.6% | 12.0% | 17.3% |
| ROE | -251.4% | -111.7% | -0.6% | -8.2% | 19.9% | 72.1% |
| Shares Outstanding | 288M | 288M | 272M | 271M | 308M | 313M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 3.4B | 1.8B | 1.8B | 1.9B | 1.8B | 1.9B | 1.9B | 19.8B | 18.6B | 17.0B | 15.8B | 15.0B | 15.0B |
| Gross Margin | 62.6% | 1.1% | 2.9% | 1.7% | 66.7% | 71.6% | 53.1% | 45.9% | 45.7% | 44.1% | 36.0% | 37.1% | 37.1% |
| R&D | 61M | 26M | 31M | 32M | 28M | 26M | 29M | 91M | 110M | 110M | 91M | 68M | 68M |
| SG&A | 372M | 318M | 325M | 371M | 436M | 509M | 475M | 2.7B | 3.0B | 3.0B | 2.4B | 2.4B | 2.4B |
| EBIT | 328M | 274M | 296M | 31M | 36M | 73M | 112M | 3.4B | 2.2B | -278M | -304M | -17.7B | -17.7B |
| Op. Margin | 9.5% | 14.8% | 16.4% | 1.6% | 2.1% | 3.9% | 6.0% | 17.3% | 12.0% | -1.6% | -1.9% | -118.1% | -118.1% |
| Net Income | 165M | 164M | 182M | 394M | -40M | -63M | -40M | 2.5B | 2.5B | -1.7B | -120M | -14.5B | -14.5B |
| Net Margin | 4.8% | 8.9% | 10.0% | 20.9% | -2.3% | -3.3% | -2.1% | 12.5% | 13.3% | -10.0% | -0.8% | -96.6% | -96.6% |
| Non-Recurring | 0 | 0 | 0 | 6.0M | 30M | 0 | 1.7M | 245K | 0 | 758M | 50M | 7.4B | 7.4B |
| Returns on Capital | |||||||||||||
| ROIC | 6.6% | 4.0% | 4.2% | 5.1% | 0.8% | 1.8% | 2.8% | 66.2% | 12.8% | -0.9% | -0.3% | -41.3% | -40.2% |
| ROE | 4.9% | 4.5% | 4.8% | 9.7% | -1.0% | -1.6% | -1.1% | 72.1% | 19.9% | -8.2% | -0.6% | -111.7% | -251.4% |
| ROA | 2.4% | 2.3% | 2.2% | 4.4% | -0.5% | -0.8% | -0.6% | 37.9% | 7.6% | -2.9% | -0.2% | -27.9% | -33.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 840M | 776M | 803M | 727M | 735M | 656M | 534M | 4.7B | 3.6B | 2.4B | 1.3B | -99M | -99M |
| Free Cash Flow | 160M | -33M | 81M | 144M | 179M | 238M | 126M | 3.0B | 571M | -668M | -292M | -1.1B | -1.1B |
| Owner Earnings | 269M | 294M | 355M | 331M | 267M | 156M | 288M | 3.4B | 2.4B | 783M | -714M | -1.7B | -1.7B |
| CapEx | 680M | 809M | 722M | 583M | 555M | 419M | 409M | 1.6B | 3.1B | 3.1B | 1.5B | 966M | 966M |
| Maint. CapEx | 557M | 461M | 433M | 386M | 457M | 491M | 238M | 1.2B | 1.2B | 1.6B | 1.9B | 1.6B | 1.6B |
| Growth CapEx | 123M | 348M | 289M | 198M | 98M | 0 | 171M | 405M | 1.9B | 1.5B | 0 | 0 | 0 |
| D&A | 557M | 461M | 433M | 386M | 457M | 491M | 238M | 1.2B | 1.2B | 1.6B | 1.9B | 1.6B | 1.6B |
| CapEx/OCF | 80.9% | 104.2% | 89.9% | 80.2% | 75.6% | 63.8% | 76.5% | 69.3% | 84.2% | 127.5% | 123.3% | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 33M | 0 | 43M | 261M | 89M | 0 | 0 | 49M | 49M |
| Buyback Yield | N/A | N/A | N/A | N/A | 1.2% | N/A | 2.0% | 11.1% | 1.8% | N/A | N/A | 0.2% | 0.1% |
| Stock-Based Comp | 15M | 22M | 15M | 10M | 10.0M | 9.4M | 8.9M | 59M | 83M | 52M | 36M | 36M | 36M |
| Debt Repayment | 63M | 45M | 40M | 38M | 41M | 29M | 811K | 90M | 86M | 122M | 109M | 70M | 70M |
| Balance Sheet | |||||||||||||
| Net Debt | 680M | 656M | 562M | 389M | 95M | 41M | 913M | 101M | 1.8B | 23.8B | 24.8B | 28.0B | 29.1B |
| Cash & Equiv. | 549M | 924M | 2.6B | 2.4B | 928M | 1.5B | 896M | 536M | 2.5B | 1.8B | 4.3B | 1.9B | 1.9B |
| Long-Term Debt | 2.3B | 2.2B | 3.6B | 3.6B | 2.4B | 2.4B | 1.5B | 1.5B | 1.5B | 19.7B | 25.7B | 18.7B | 18.7B |
| Debt/Equity | 0.67 | 0.59 | 0.93 | 0.87 | 0.80 | 0.68 | 0.97 | 0.49 | 0.28 | 1.32 | 1.50 | 5.37 | 5.37 |
| Interest Coverage | 1.9 | 2.2 | 2.4 | 0.2 | 0.2 | 0.3 | 0.8 | 35.8 | 39.1 | -3.1 | -34.6 | -3525.6 | -3525.6 |
| Equity | 3.5B | 3.7B | 3.9B | 4.2B | 4.1B | 3.7B | 3.5B | 3.4B | 21.5B | 19.9B | 20.2B | 5.8B | 5.8B |
| Total Assets | 7.3B | 7.2B | 9.0B | 8.8B | 8.7B | 7.2B | 7.1B | 6.0B | 58.7B | 57.1B | 60.9B | 43.0B | 43.0B |
| Total Liabilities | 3.6B | 3.4B | 5.0B | 4.6B | 4.5B | 3.4B | 3.5B | 2.6B | 36.7B | 36.7B | 40.7B | 37.2B | 37.2B |
| Intangibles | 196M | 133M | 81M | 471M | 430M | 479M | 479M | 442M | 16M | 173M | 75M | 54M | 54M |
| Retained Earnings | -19M | 134M | 314M | 721M | 694M | 633M | 584M | 656M | 13.4B | 11.7B | 11.6B | -2.9B | -2.9B |
| Working Capital | 1.8B | 1.6B | 3.2B | 3.3B | 2.2B | 2.3B | 1.5B | 1.5B | 315M | -3.1B | 2.3B | -7.2B | -7.2B |
| Current Assets | 2.3B | 2.1B | 3.7B | 3.7B | 3.6B | 2.8B | 2.9B | 1.9B | 6.8B | 4.9B | 8.1B | 5.1B | 5.1B |
| Current Liabilities | 518M | 527M | 531M | 414M | 1.3B | 496M | 1.4B | 460M | 6.4B | 8.0B | 5.8B | 12.4B | 12.4B |
| Per Share Data | |||||||||||||
| EPS | 1.78 | 1.75 | 1.92 | 4.07 | -0.42 | -0.65 | -0.41 | 7.94 | 8.05 | -6.28 | -0.44 | -50.41 | -50.41 |
| Owner EPS | 2.89 | 3.14 | 3.75 | 3.42 | 2.77 | 1.61 | 2.94 | 10.80 | 7.68 | 2.89 | -2.63 | -5.98 | -5.98 |
| Book Value | 38.05 | 39.51 | 41.43 | 43.02 | 42.96 | 37.91 | 36.17 | 10.71 | 69.81 | 73.35 | 74.32 | 20.05 | 20.05 |
| Cash Flow/Share | 9.05 | 8.30 | 8.49 | 7.51 | 7.62 | 6.78 | 5.46 | 14.87 | 11.77 | 8.98 | 4.61 | -0.35 | -44.90 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 92.8M | 93.5M | 94.6M | 96.7M | 96.4M | 96.8M | 97.9M | 313.1M | 307.8M | 271.0M | 271.7M | 287.6M | 287.6M |
| Valuation | |||||||||||||
| P/E Ratio | 29.2 | 21.8 | 27.1 | 14.6 | N/A | N/A | N/A | 32.3 | 2.0 | N/A | N/A | N/A | -2.4 |
| P/FCF | 24.4 | N/A | 49.3 | 32.4 | 15.8 | 17.9 | 17.2 | 2.7 | 8.8 | N/A | N/A | N/A | N/A |
| EV/EBIT | 16.8 | 15.4 | 18.5 | 200.9 | 106.4 | 49.4 | 13.4 | 10.6 | 2.4 | N/A | N/A | N/A | N/A |
| Price/Book | 1.4 | 1.0 | 1.3 | 1.4 | 0.7 | 1.1 | 0.6 | 0.7 | 0.2 | 0.2 | 0.3 | 5.3 | 5.9 |
| Price/Sales | 4.2 | 4.1 | 3.6 | 4.6 | 2.2 | 1.8 | 1.6 | 1.1 | 0.3 | 0.3 | 0.3 | 0.8 | 2.3 |
| FCF Yield | 3.3% | -0.9% | 1.6% | 2.5% | 6.3% | 5.6% | 5.8% | 129.0% | 11.3% | -15.3% | -4.8% | -3.5% | -3.1% |
| Market Cap | 4.8B | 3.6B | 4.9B | 5.8B | 2.8B | 4.3B | 2.2B | 2.4B | 5.0B | 4.4B | 6.1B | 30.4B | 34.1B |
| Avg. Price | 40.01 | 38.55 | 33.89 | 46.30 | 39.92 | 35.21 | 30.05 | 25.10 | 20.90 | 16.72 | 18.82 | 43.47 | 118.68 |
| Year-End Price | 42.14 | 30.90 | 42.17 | 48.18 | 29.37 | 44.01 | 22.03 | 26.15 | 16.34 | 16.08 | 22.57 | 105.60 | 118.68 |
EchoStar CORP passes 0 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 7.3% with a gross margin of 41.8%. Total shareholder yield (buybacks) is 0.1%. At current prices, the estimated annualized return to fair value is +22.0%.
EchoStar CORP (SATS) has a debt-to-equity ratio of 5.37. This indicates higher leverage, which may increase financial risk.
EchoStar CORP (SATS) reported earnings per share (EPS) of $-50.41 in its most recent fiscal year.
EchoStar CORP (SATS) has a return on equity (ROE) of -111.7%. A negative ROE may indicate losses or negative equity.
EchoStar CORP (SATS) has a 5-year average gross margin of 41.8%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for EchoStar CORP (SATS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EchoStar CORP (SATS) has a book value per share of $20.05, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is navigating significant regulatory and strategic changes following FCC review of spectrum utilization, having agreed to sell material spectrum licenses to AT&T and SpaceX in exchange for cash proceeds and equity stakes. The company is repositioning its 5G network deployment and expects to optimize operations across recently launched markets including New York, New Jersey, and Chicago as device availability increases and network coverage expands. Management anticipates positive net subscriber growth in the retail wireless business by year-end and expects Hughes enterprise revenues to exceed 50% of divisional revenue, with continued momentum in satellite broadband customer migrations and LEO terminal shipments. The company is targeting positive operating free cash flow through operational efficiencies and a significant reduction in annual capital expenditures compared to prior years.