EchoStar (SATS) Financials

$137.23 +2.12 (+1.57%)

Closing price 05/15/2026 04:00 PM Eastern

Extended Trading

$137.78 +0.55 (+0.40%)

As of 05/15/2026 07:59 PM Eastern

Annual Income Statements for EchoStar

This table shows EchoStar's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	164	182	394	-40	-63	-40	2,486	2,478	-1,702	-120	-14,497
Consolidated Net Income / (Loss)	149	181	393	-39	-74	-52	2,521	2,537	-1,635	-125	-14,507
Net Income / (Loss) Continuing Operations	88	136	123	-132	-114	-52	2,521	2,537	-1,635	-125	-14,507
Total Pre-Tax Income	139	217	-32	-126	-93	-28	3,350	3,335	-1,932	-76	-18,893
Total Operating Income	274	296	31	36	73	112	3,422	2,233	-278	-304	-17,723
Total Gross Profit	1,079	1,274	1,024	1,022	1,099	1,144	9,101	8,523	7,505	5,690	5,560
Total Revenue	1,849	1,810	1,525	1,763	1,886	1,888	19,819	18,634	17,016	15,826	15,005
Operating Revenue	1,849	1,810	1,525	1,763	1,886	1,888	19,819	18,634	17,016	15,826	15,005
Total Cost of Revenue	770	537	501	741	787	744	10,717	10,111	9,510	10,136	9,445
Operating Cost of Revenue	770	537	501	741	787	744	10,717	10,111	9,510	10,136	9,445
Total Operating Expenses	805	978	994	986	1,026	1,031	5,679	6,290	7,783	5,994	23,283
Selling, General & Admin Expense	318	325	371	436	509	475	2,686	3,015	2,989	2,427	2,380
Depreciation Expense	461	433	386	457	491	525	1,214	1,175	1,598	1,930	1,586
Other Operating Expenses / (Income)	-	189	195	-	-	-	1,778	2,099	2,435	1,637	1,685
Impairment Charge	0.00	0.00	11	65	0.00	1.69	0.25	0.71	761	0.00	17,632
Total Other Income / (Expense), net	-134	-80	-63	-162	-166	-140	-73	1,102	-1,654	229	-1,170
Interest Expense	122	123	184	219	251	148	111	79	90	482	1,522
Interest & Investment Income	-3.32	42	115	62	97	1.41	34	93	207	117	229
Other Income / (Expense), net	-9.13	2.13	6.58	-4.33	-12	6.21	4.72	1,088	-1,771	593	123
Income Tax Expense	51	80	-155	6.58	20	24	828	798	-297	49	-4,386
Net Income / (Loss) Attributable to Noncontrolling Interest	-14	-0.98	-0.28	1.84	-11	-12	35	59	67	-4.97	-9.76
Basic Earnings per Share	$1.77	$1.94	$4.13	($0.42)	($0.65)	($0.41)	$9.04	$9.17	($6.28)	($0.44)	($50.41)
Weighted Average Basic Shares Outstanding	92.40M	93.60M	95.43M	96.25M	97.80M	93.70M	275.12M	270.10M	270.84M	274.08M	287.59M
Diluted Earnings per Share	$1.75	$1.92	$4.07	($0.42)	($0.65)	($0.41)	$7.94	$8.05	($6.28)	($0.44)	($50.41)
Weighted Average Diluted Shares Outstanding	93.47M	93.60M	95.43M	96.25M	97.80M	93.70M	313.12M	307.73M	270.84M	274.08M	287.59M
Weighted Average Basic & Diluted Shares Outstanding	92.50M	93.60M	95.43M	96.25M	97.80M	93.70M	85.86M	83.28M	271.52M	286.44M	288.88M

This table shows EchoStar's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-138	-2,030	-107	-206	-142	335	-203	-306	-12,781	-1,207	-147
Consolidated Net Income / (Loss)	-119	-2,022	-108	-207	-144	335	-203	-307	-12,781	-1,215	-147
Net Income / (Loss) Continuing Operations	-119	-2,022	-108	-207	-144	335	-203	-307	-12,781	-1,215	-147
Total Pre-Tax Income	-178	-2,439	-110	-224	-179	438	-267	-392	-16,937	-1,297	-168
Total Operating Income	-31	-852	-15	-65	-161	-63	-88	-213	-16,642	-780	393
Total Gross Profit	1,740	1,875	1,458	1,445	1,353	1,434	1,438	1,263	1,244	1,615	1,669
Total Revenue	4,109	4,163	4,015	3,953	3,891	3,967	3,870	3,725	3,614	3,796	3,667
Operating Revenue	4,109	4,163	4,015	3,953	3,891	3,967	3,870	3,725	3,614	3,796	3,667
Total Cost of Revenue	2,369	2,288	2,557	2,507	2,538	2,533	2,432	2,462	2,370	2,181	1,998
Operating Cost of Revenue	2,369	2,288	2,557	2,507	2,538	2,533	2,432	2,462	2,370	2,181	1,998
Total Operating Expenses	1,772	2,727	1,473	1,511	1,514	1,497	1,526	1,477	17,886	2,395	1,276
Selling, General & Admin Expense	762	768	624	595	643	564	598	629	621	531	639
Depreciation Expense	397	482	485	508	477	460	488	493	391	213	167
Other Operating Expenses / (Income)	612	719	363	408	393	473	440	354	392	500	537
Impairment Charge	0.00	758	-	-	0.00	-	0.00	-	16,481	-	-66
Total Other Income / (Expense), net	-147	-1,587	-95	-159	-18	500	-179	-179	-295	-517	-561
Interest Expense	22	27	99	81	82	220	286	279	377	579	593
Interest & Investment Income	44	41	30	14	11	61	66	65	53	45	29
Other Income / (Expense), net	-169	-1,601	-26	-91	52	659	41	35	29	17	2.18
Income Tax Expense	-59	-418	-1.93	-17	-35	103	-64	-85	-4,155	-82	-21
Net Income / (Loss) Attributable to Noncontrolling Interest	20	8.26	-1.00	-1.87	-1.99	-0.11	-0.61	-0.71	-0.15	-8.28	-0.42
Basic Earnings per Share	($0.51)	($7.50)	($0.40)	($0.76)	($0.52)	$1.24	($0.71)	($1.06)	($44.37)	($4.27)	($0.51)
Weighted Average Basic Shares Outstanding	271.25M	270.84M	271.52M	271.59M	271.74M	274.08M	286.51M	287.51M	288.05M	287.59M	289.01M
Diluted Earnings per Share	($0.51)	($7.28)	($0.40)	($0.76)	($0.52)	$1.24	($0.71)	($1.06)	($44.37)	($4.27)	($0.51)
Weighted Average Diluted Shares Outstanding	271.25M	270.84M	271.52M	271.59M	271.74M	274.08M	286.51M	287.51M	288.05M	287.59M	289.01M
Weighted Average Basic & Diluted Shares Outstanding	83.91M	271.52M	271.52M	271.68M	271.84M	286.44M	287.38M	287.72M	287.88M	288.88M	289.81M

This table details how cash moves in and out of EchoStar's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	375	1,647	-140	-1,501	592	-625	3,920	-5,715	-650	2,682	-2,412
Net Cash From Operating Activities	776	803	727	735	656	534	4,655	3,621	2,433	1,253	-99
Net Cash From Continuing Operating Activities	776	803	727	735	656	534	4,655	3,621	2,433	1,253	-99
Net Income / (Loss) Continuing Operations	149	181	393	-39	-74	-52	2,521	2,537	-1,635	-125	-14,507
Consolidated Net Income / (Loss)	149	181	393	-39	-74	-52	2,521	2,537	-1,635	-125	-14,507
Depreciation Expense	528	495	534	598	588	525	1,214	1,175	1,598	1,930	1,586
Non-Cash Adjustments To Reconcile Net Income	50	14	-22	119	9.48	43	30	-994	2,474	-591	17,659
Changes in Operating Assets and Liabilities, net	48	107	-186	48	127	14	890	904	-4.16	38	-4,837
Net Cash From Investing Activities	-275	-632	-868	-2,098	822	-1,142	-4,247	-9,060	-2,809	-3,048	-1,405
Net Cash From Continuing Investing Activities	-275	-632	-868	-2,098	822	-1,142	-4,247	-9,060	-2,809	-3,048	-1,405
Purchase of Property, Plant & Equipment	-832	-746	-615	-587	-448	-447	-1,619	-3,050	-3,062	-1,545	-966
Purchase of Investments	-601	-923	-856	-3,089	-1,089	-2,805	-6,339	-1,966	-2,408	-1,254	-3,069
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	0.00	0.00	122	0.00
Divestitures	-	-	-	1.56	-	0.00	-	-	0.00	0.00	47
Sale and/or Maturity of Investments	1,057	1,009	598	1,498	2,394	2,110	4,391	4,160	3,859	573	3,228
Other Investing Activities, net	100	27	4.31	78	-	-	-680	-8,203	-1,198	-945	-645
Net Cash From Financing Activities	-120	1,476	0.07	-137	-885	-16	3,515	-274	-277	4,484	-910
Net Cash From Continuing Financing Activities	-120	1,476	0.07	-137	-885	-16	3,515	-274	-277	4,484	-910
Repayment of Debt	-159	-53	-44	-117	-926	-0.56	-3,042	-2,213	-1,678	-3,365	-1,061
Repurchase of Common Equity	-	0.00	0.00	-33	0.00	-43	-261	-89	0.00	0.00	-49
Payment of Dividends	-	-	0.00	0.00	-7.31	-	0.00	0.00	-109	-442	0.00
Issuance of Debt	-	1,501	-	-	-	-	6,750	2,000	1,500	7,886	150
Issuance of Common Equity	14	14	8.76	9.37	9.78	28	68	27	11	404	49
Effect of Exchange Rate Changes	-5.70	0.14	1.35	-	-	-1.39	-3.75	-2.31	3.00	-5.72	2.64

This table details how cash moves in and out of EchoStar's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	231	-131	-1,208	-157	2,261	1,786	-1,780	-168	65	-528	-696
Net Cash From Operating Activities	482	411	451	480	276	46	207	7.51	112	-425	238
Net Cash From Continuing Operating Activities	482	411	451	480	276	46	207	7.51	112	-425	238
Net Income / (Loss) Continuing Operations	-119	-2,022	-108	-207	-144	335	-203	-307	-12,781	-1,215	-147
Consolidated Net Income / (Loss)	-119	-2,022	-108	-207	-144	335	-203	-307	-12,781	-1,215	-147
Depreciation Expense	397	482	485	508	477	460	488	493	391	213	167
Non-Cash Adjustments To Reconcile Net Income	186	2,258	43	59	0.19	-650	27	-2.96	16,558	1,134	-49
Changes in Operating Assets and Liabilities, net	18	-308	31	121	-58	-99	-105	-176	-4,056	-557	268
Net Cash From Investing Activities	-158	-399	-238	-610	-329	-1,871	-1,657	-143	150	245	849
Net Cash From Continuing Investing Activities	-158	-399	-238	-610	-329	-1,871	-1,657	-143	150	245	849
Purchase of Property, Plant & Equipment	-830	-563	-520	-347	-334	-344	-258	-293	-256	-158	-133
Purchase of Investments	-333	-23	-19	-2.71	-7.32	-1,224	-1,808	-440	-520	-301	-577
Sale and/or Maturity of Investments	1,175	618	459	43	62	9.61	534	992	1,023	679	1,521
Other Investing Activities, net	-170	-431	-158	-329	-146	-312	-124	-450	-97	26	38
Net Cash From Financing Activities	-91	-144	-1,420	-24	2,314	3,614	-332	-34	-197	-347	-1,783
Net Cash From Continuing Financing Activities	-91	-144	-1,420	-24	2,314	3,614	-332	-34	-197	-347	-1,783
Repayment of Debt	-94	-33	-978	-26	-189	-2,172	-334	-189	-177	-361	-1,791
Issuance of Common Equity	3.27	-0.97	-0.16	1.99	2.52	-0.16	2.53	4.46	29	13	7.51
Effect of Exchange Rate Changes	-1.86	1.38	-0.85	-2.85	0.24	-2.26	1.71	1.25	0.03	-0.35	-0.24

This table presents EchoStar's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	7,209	9,009	8,750	8,661	7,154	7,073	6,045	58,748	57,109	60,939	43,016
Total Current Assets	2,134	3,723	3,716	3,581	2,836	2,908	1,927	6,758	4,892	8,096	5,133
Cash & Equivalents	924	2,570	2,431	928	1,519	896	536	2,498	1,821	4,305	1,883
Restricted Cash	-	-	-	-	-	-	-	-	0.00	151	176
Short-Term Investments	612	523	814	2,282	941	1,638	1,010	1,810	623	1,242	1,101
Accounts Receivable	456	202	240	201	197	184	182	1,183	1,122	1,199	1,274
Inventories, net	67	63	84	-	-	-	-	626	665	455	381
Prepaid Expenses	57	43	55	-	-	-	-	618	644	655	284
Other Current Assets	17	11	92	166	180	190	198	24	16	88	35
Plant, Property, & Equipment, net	3,413	3,398	3,465	2,535	0.00	2,390	2,338	7,905	9,562	9,187	2,244
Total Noncurrent Assets	1,663	1,887	1,569	2,546	4,318	1,775	1,780	44,086	42,655	43,656	35,640
Long-Term Investments	230	171	161	267	325	285	298	642	432	372	370
Intangible Assets	676	625	596	474	508	18	14	1,113	173	75	54
Other Noncurrent Operating Assets	155	179	215	338	2,978	960	957	42,330	42,050	43,209	35,215
Total Liabilities & Shareholders' Equity	7,209	9,009	8,159	8,661	7,154	7,073	6,045	58,748	57,109	60,939	43,016
Total Liabilities	3,428	5,002	4,573	4,506	3,409	3,466	2,631	36,698	36,721	40,693	37,204
Total Current Liabilities	527	531	414	1,345	496	1,425	460	6,443	8,019	5,831	12,363
Short-Term Debt	36	33	41	920	0.00	898	-	1,553	3,047	943	7,321
Accounts Payable	238	171	113	121	124	122	319	1,024	774	741	542
Accrued Expenses	140	96	83	182	271	300	-	2,735	3,146	3,144	3,552
Current Deferred Revenue	62	60	-	-	-	-	-	833	755	651	639
Other Current Nonoperating Liabilities	8.60	118	48	50	-	-	-	298	298	352	309
Total Noncurrent Liabilities	2,901	4,471	4,159	3,161	2,913	2,041	2,171	30,255	28,702	34,862	24,841
Long-Term Debt	2,157	3,622	3,594	2,386	2,389	1,495	1,496	21,344	19,717	25,660	18,659
Noncurrent Deferred & Payable Income Tax Liabilities	650	747	436	288	352	360	404	5,355	5,014	4,989	599
Other Noncurrent Operating Liabilities	-	-	-	-	97	115	135	3,557	3,970	4,213	5,584
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,782	4,007	4,177	4,155	3,746	3,607	3,414	21,586	19,950	20,245	5,812
Total Preferred & Common Equity	3,695	3,920	4,163	4,140	3,670	3,542	3,354	21,488	19,880	20,191	5,766
Total Common Equity	3,695	3,920	3,571	4,140	3,670	3,542	3,354	21,488	19,880	20,191	5,766
Common Stock	3,777	3,829	3,670	3,703	3,291	3,322	3,346	8,223	8,302	8,769	8,876
Retained Earnings	134	314	-	694	633	584	656	13,440	11,738	11,618	-2,879
Treasury Stock	-98	-98	-98	-131	-131	-175	-437	-	-	0.00	-49
Accumulated Other Comprehensive Income / (Loss)	-117	-125	-	-125	-122	-188	-212	-175	-160	-196	-183
Noncontrolling Interest	86	87	15	15	76	65	60	98	70	54	46

This table presents EchoStar's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	6,125	6,194	6,237	6,230	55,556	55,255	57,547	60,572	59,882	45,271	41,376
Total Current Assets	2,041	2,180	2,397	2,473	3,117	2,788	5,000	7,648	6,916	6,032	3,549
Cash & Equivalents	901	920	702	1,095	614	419	623	2,530	2,345	2,432	1,344
Restricted Cash	-	-	-	-	-	-	2,047	173	184	170	0.00
Short-Term Investments	667	755	1,211	895	153	101	52	2,529	1,988	1,483	172
Accounts Receivable	244	252	239	235	1,023	1,053	1,100	1,184	1,159	1,127	1,259
Inventories, net	-	-	-	-	633	557	442	413	375	416	395
Prepaid Expenses	-	-	-	-	678	642	650	724	771	384	360
Other Current Assets	229	253	244	248	16	15	87	95	94	21	20
Plant, Property, & Equipment, net	2,251	2,176	2,168	2,145	9,589	9,427	9,288	8,981	8,774	3,085	2,201
Total Noncurrent Assets	1,833	1,838	1,672	1,613	42,850	43,040	43,259	43,942	44,193	36,154	35,626
Long-Term Investments	353	365	193	136	430	387	372	375	368	368	385
Intangible Assets	16	15	15	14	128	87	79	71	67	63	51
Other Noncurrent Operating Assets	931	925	931	930	42,293	42,567	42,808	43,497	43,758	35,724	35,189
Total Liabilities & Shareholders' Equity	6,125	6,194	6,237	6,230	55,556	55,255	57,547	60,572	59,882	45,271	41,376
Total Liabilities	2,590	2,551	2,566	2,565	35,715	35,623	38,047	40,509	40,091	38,264	35,698
Total Current Liabilities	406	378	398	397	7,005	6,977	7,479	6,056	5,674	9,962	11,766
Short-Term Debt	-	-	-	-	2,091	2,083	2,520	1,005	1,053	4,520	6,237
Accounts Payable	279	249	290	274	573	655	707	690	746	668	580
Accrued Expenses	-	-	-	-	3,220	3,279	3,199	3,028	2,927	3,490	3,702
Current Deferred Revenue	-	-	-	-	713	670	646	665	639	652	621
Other Current Nonoperating Liabilities	-	-	-	-	408	289	407	668	309	632	626
Total Noncurrent Liabilities	2,184	2,172	2,168	2,168	28,710	28,646	30,568	34,453	34,417	28,302	23,933
Long-Term Debt	1,497	1,497	1,497	1,497	19,697	19,679	21,557	25,328	25,402	21,791	18,015
Noncurrent Deferred & Payable Income Tax Liabilities	434	431	433	433	4,999	4,975	4,926	4,917	4,810	681	575
Other Noncurrent Operating Liabilities	133	132	128	128	4,015	3,992	4,085	4,208	4,206	5,830	5,342
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,536	3,643	3,671	3,666	19,841	19,632	19,500	20,063	19,791	7,007	5,677
Total Preferred & Common Equity	3,439	3,546	3,574	3,573	19,777	19,573	19,443	20,008	19,736	6,951	5,631
Total Common Equity	3,439	3,546	3,574	3,573	19,777	19,573	19,443	20,008	19,736	6,951	5,631
Common Stock	3,361	3,376	3,380	3,384	8,311	8,327	8,337	8,780	8,810	8,850	8,887
Retained Earnings	784	863	874	877	11,631	11,425	11,283	11,416	11,110	-1,672	-3,026
Treasury Stock	-526	-526	-526	-526	-	-	-	-	-	-49	-49
Accumulated Other Comprehensive Income / (Loss)	-180	-167	-154	-162	-165	-179	-178	-188	-183	-179	-182
Noncontrolling Interest	96	97	97	92	64	59	57	55	55	55	46

This table displays calculated financial ratios and metrics derived from EchoStar's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	287,876,315.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	287,876,315.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-50.36
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	173	186	21	25	51	79	2,576	1,698	-195	-213	-12,406
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.82%	-0.46%	-0.45%	-39.02%
Earnings before Interest and Taxes (EBIT)	265	298	37	32	61	119	3,427	3,321	-2,049	289	-17,600
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	793	800	578	638	655	648	4,641	4,496	-451	2,220	-16,015
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	82	504	4,070	-3,600	177	246	2,692	-35,531	-473	-771	153
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,216	3,899	-150	3,475	3,349	3,182	3,066	40,295	40,573	41,131	28,571
Increase / (Decrease) in Invested Capital	91	-317	-4,049	3,625	-125	-168	-116	37,229	278	558	-12,559
Book Value per Share	$39.91	$41.66	$6.42	$43.02	$37.61	$36.09	$38.72	$258.48	$236.93	$74.28	$20.03
Tangible Book Value per Share	$27.09	$29.65	$6.42	$32.85	$27.20	$30.69	$32.65	$245.09	$234.87	$74.00	$19.84
Total Capital	5,974	7,662	4,201	7,461	6,135	6,001	4,910	44,946	43,152	46,849	31,792
Total Debt	2,192	3,655	0.00	3,306	2,389	2,393	1,496	22,896	22,764	26,603	25,980
Total Long-Term Debt	2,157	3,622	0.00	2,386	2,389	1,495	1,496	21,344	19,717	25,660	18,659
Net Debt	426	392	-168	-171	-396	-426	-348	17,947	19,887	20,533	22,450
Capital Expenditures (CapEx)	832	746	615	587	448	447	1,619	3,050	3,062	1,423	966
Debt-free, Cash-free Net Working Capital (DFCFNWC)	106	132	178	-55	-120	-153	-80	-2,440	-2,525	-2,491	-3,069
Debt-free Net Working Capital (DFNWC)	1,643	3,225	178	3,155	2,340	2,381	1,467	1,868	-80	3,208	91
Net Working Capital (NWC)	1,607	3,192	178	2,236	2,340	1,483	1,467	315	-3,127	2,265	-7,230
Net Nonoperating Expense (NNE)	24	5.75	-372	64	125	131	55	-839	1,440	-88	2,101
Net Nonoperating Obligations (NNO)	434	-108	-4,351	-681	-396	-426	-348	18,245	20,185	20,886	22,759
Total Depreciation and Amortization (D&A)	528	502	541	606	594	529	1,214	1,175	1,598	1,930	1,586
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.77	$1.94	$4.13	($0.42)	($0.65)	($0.41)	$0.81	$2.10	($6.28)	($0.44)	($50.41)
Adjusted Weighted Average Basic Shares Outstanding	92.40M	93.80M	95.43M	95.35M	97.80M	93.70M	85.86M	83.28M	270.84M	274.08M	287.59M
Adjusted Diluted Earnings per Share	$1.75	$1.92	$4.07	($0.42)	($0.65)	($0.41)	$0.81	$2.10	($6.28)	($0.44)	($50.41)
Adjusted Weighted Average Diluted Shares Outstanding	93.47M	94.41M	96.74M	95.35M	97.80M	93.70M	85.86M	83.28M	270.84M	274.08M	287.59M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($0.41)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	93.25M	94.59M	95.83M	95.35M	97.80M	93.70M	85.86M	83.28M	271.52M	286.44M	288.88M
Normalized Net Operating Profit after Tax (NOPAT)	173	186	29	71	51	80	2,576	1,699	338	-213	-64
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from EchoStar's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	287,876,315.00	288,875,859.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	287,876,315.00	288,875,859.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-4.19	-0.51
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	726.09%	-75.71%	-8.50%	-9.27%	-5.30%	-4.70%	-3.61%	-5.76%	-7.11%	-	-5.23%
EBITDA Growth	27.45%	-149.17%	-33.36%	-46.62%	87.28%	153.59%	-0.55%	-10.23%	-4,498.80%	-	27.18%
EBIT Growth	-556.15%	-177.12%	-112.98%	-154.79%	45.75%	124.31%	-13.03%	-13.64%	-15,188.90%	-	945.13%
NOPAT Growth	-178.15%	-137.27%	-104.06%	-124.87%	-412.83%	91.96%	-478.14%	-226.47%	-10,251.55%	-	545.75%
Net Income Growth	-707.35%	-183.61%	-139.72%	-189.16%	-21.11%	116.58%	-87.57%	-47.91%	-8,788.22%	-	27.54%
EPS Growth	-288.89%	-210.98%	-148.78%	-210.14%	-1.96%	117.03%	-77.50%	-39.47%	-8,432.69%	-	28.17%
Operating Cash Flow Growth	426.20%	-87.46%	-42.87%	-35.96%	-42.76%	-88.92%	-54.18%	-98.43%	-59.56%	-	15.25%
Free Cash Flow Firm Growth	59.01%	97.55%	-11,110.76%	-15,512.24%	-73,419.20%	30.74%	98.20%	97.23%	99.32%	-	2,028.44%
Invested Capital Growth	-2.37%	0.69%	1,217.42%	1,231.92%	1,246.20%	1.37%	1.51%	2.19%	-27.86%	-	-30.88%
Revenue Q/Q Growth	-5.68%	1.31%	-48.91%	-1.55%	-1.56%	1.95%	-2.45%	-3.74%	-2.97%	-	-3.39%
EBITDA Q/Q Growth	-70.03%	-1,100.92%	132.29%	-21.03%	5.17%	186.39%	-58.19%	-28.72%	-5,253.26%	-	202.20%
EBIT Q/Q Growth	-169.96%	-1,124.83%	98.45%	-279.33%	30.73%	648.78%	-107.84%	-281.39%	-9,218.91%	-	151.81%
NOPAT Q/Q Growth	-111.93%	-2,618.20%	98.32%	-328.82%	-145.94%	57.36%	-28.56%	-142.15%	-7,698.15%	-	150.38%
Net Income Q/Q Growth	-151.03%	-1,602.61%	94.94%	-91.43%	30.68%	333.04%	-160.66%	-50.95%	-4,065.42%	-	87.88%
EPS Q/Q Growth	-173.91%	-1,327.45%	94.89%	-90.00%	31.58%	338.46%	-157.26%	-49.30%	-4,085.85%	-	88.06%
Operating Cash Flow Q/Q Growth	-35.60%	-14.79%	-78.83%	6.31%	-42.43%	-83.50%	353.88%	-96.37%	1,386.70%	-	156.02%
Free Cash Flow Firm Q/Q Growth	-78.87%	-1,788.89%	-4,039.72%	-0.02%	-0.54%	98.40%	-11.95%	-53.98%	75.38%	-	8.85%
Invested Capital Q/Q Growth	-0.78%	1,235.76%	0.66%	-0.16%	0.28%	0.59%	0.79%	0.52%	-29.21%	-	0.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.35%	45.04%	36.31%	36.56%	34.77%	36.15%	37.15%	33.92%	34.42%	-	45.51%
EBITDA Margin	4.79%	-47.35%	11.06%	8.87%	9.48%	26.62%	11.41%	8.45%	-448.82%	-	15.31%
Operating Margin	-0.76%	-20.47%	-0.38%	-1.65%	-4.13%	-1.58%	-2.28%	-5.73%	-460.45%	-	10.71%
EBIT Margin	-4.87%	-58.94%	-1.03%	-3.97%	-2.79%	15.03%	-1.21%	-4.79%	-459.65%	-	10.77%
Profit (Net Income) Margin	-2.89%	-48.57%	-2.70%	-5.25%	-3.70%	8.45%	-5.25%	-8.24%	-353.64%	-	-4.02%
Tax Burden Percent	66.64%	82.88%	98.25%	92.57%	80.35%	76.55%	76.06%	78.25%	75.46%	-	87.56%
Interest Burden Percent	88.96%	99.43%	266.72%	142.86%	164.70%	73.42%	571.79%	219.97%	101.95%	-	-42.58%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	23.45%	0.00%	0.00%	0.00%	-	0.00%
Return on Invested Capital (ROIC)	-5.21%	-6.03%	-0.20%	-0.86%	-2.11%	-0.47%	-0.61%	-1.50%	-138.98%	-	3.17%
ROIC Less NNEP Spread (ROIC-NNEP)	13.18%	-13.45%	-1.16%	-2.43%	-2.41%	1.40%	-1.28%	-2.24%	-144.14%	-	1.26%
Return on Net Nonoperating Assets (RNNOA)	-1.93%	-12.18%	-1.01%	-2.14%	-2.16%	1.41%	-1.36%	-2.44%	-238.62%	-	2.18%
Return on Equity (ROE)	-7.14%	-18.21%	-1.21%	-3.00%	-4.27%	0.94%	-1.96%	-3.94%	-377.61%	-	5.34%
Cash Return on Invested Capital (CROIC)	68.70%	-1.17%	-173.84%	-175.14%	-175.83%	-1.89%	-2.14%	-3.06%	-1.46%	-	2.09%
Operating Return on Assets (OROA)	-23.66%	-17.31%	-0.56%	-2.10%	-1.40%	4.03%	-0.33%	-1.28%	-135.69%	-	3.13%
Return on Assets (ROA)	-14.03%	-14.27%	-1.46%	-2.77%	-1.86%	2.27%	-1.42%	-2.21%	-104.39%	-	-1.17%
Return on Common Equity (ROCE)	-6.95%	-17.75%	-1.20%	-2.98%	-4.24%	0.93%	-1.96%	-3.93%	-376.00%	-	5.32%
Return on Equity Simple (ROE_SIMPLE)	78.49%	0.00%	-10.19%	-12.55%	-12.76%	0.00%	-1.10%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-22	-596	-11	-46	-113	-48	-62	-149	-11,649	-546	275
NOPAT Margin	-0.53%	-14.33%	-0.27%	-1.16%	-2.89%	-1.21%	-1.59%	-4.01%	-322.32%	-	7.50%
Net Nonoperating Expense Percent (NNEP)	-18.39%	7.42%	0.96%	1.57%	0.30%	-1.87%	0.67%	0.73%	5.16%	-	1.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-1.40%	-	-	-	-0.10%	-0.13%	-0.32%	-34.96%	-1.72%	0.92%
Cost of Revenue to Revenue	57.65%	54.96%	63.69%	63.44%	65.23%	63.85%	62.85%	66.08%	65.58%	-	54.49%
SG&A Expenses to Revenue	18.55%	18.45%	15.55%	15.05%	16.53%	14.22%	15.45%	16.90%	17.20%	-	17.42%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	43.12%	65.51%	36.69%	38.22%	38.90%	37.73%	39.43%	39.64%	494.87%	-	34.80%
Earnings before Interest and Taxes (EBIT)	-200	-2,453	-41	-157	-109	596	-47	-178	-16,613	-762	395
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	197	-1,971	444	351	369	1,056	442	315	-16,222	-550	562
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.39	0.07	0.20	0.25	0.35	0.31	0.37	0.40	3.16	-	6.01
Price to Tangible Book Value (P/TBV)	0.46	0.07	0.20	0.25	0.35	0.31	0.37	0.40	3.19	-	6.06
Price to Revenue (P/Rev)	0.05	0.08	0.23	0.30	0.42	0.39	0.47	0.52	1.45	-	2.28
Price to Earnings (P/E)	0.52	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Earnings Yield	190.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.29	0.54	0.60	0.63	0.68	0.65	0.68	0.71	1.49	-	1.96
Enterprise Value to Revenue (EV/Rev)	0.03	1.28	1.47	1.59	1.73	1.69	1.79	1.91	2.89	-	3.80
Enterprise Value to EBITDA (EV/EBITDA)	0.16	0.00	0.00	0.00	0.00	12.08	12.68	13.56	0.00	-	0.00
Enterprise Value to EBIT (EV/EBIT)	0.24	0.00	0.00	0.00	0.00	92.64	98.96	112.65	0.00	-	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.43	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.16	8.96	11.71	14.11	17.17	21.40	27.88	55.20	118.13	-	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.41	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	76.75
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.41	1.12	1.10	1.11	1.23	1.31	1.31	1.34	3.76	-	4.27
Long-Term Debt to Equity	0.41	0.97	0.99	1.00	1.11	1.27	1.26	1.28	3.11	-	3.17
Financial Leverage	-0.15	0.91	0.87	0.88	0.90	1.01	1.06	1.09	1.66	-	1.72
Leverage Ratio	1.72	2.73	2.63	2.64	2.75	2.91	2.91	2.92	3.88	-	3.96
Compound Leverage Factor	1.53	2.71	7.01	3.77	4.53	2.13	16.64	6.42	3.95	-	-1.69
Debt to Total Capital	29.00%	52.75%	52.34%	52.57%	55.25%	56.79%	56.76%	57.20%	78.97%	-	81.03%
Short-Term Debt to Total Capital	0.00%	7.06%	5.02%	5.03%	5.78%	2.01%	2.17%	2.28%	13.57%	-	20.84%
Long-Term Debt to Total Capital	29.00%	45.69%	47.32%	47.54%	49.47%	54.77%	54.59%	54.93%	65.40%	-	60.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	1.79%	1.18%	0.15%	0.14%	0.13%	0.12%	0.12%	0.12%	0.17%	-	0.15%
Common Equity to Total Capital	69.21%	46.07%	47.51%	47.29%	44.62%	43.10%	43.12%	42.68%	20.86%	-	18.81%
Debt to EBITDA	0.27	-50.50	-32.37	-22.22	-29.82	11.99	11.88	12.13	-1.83	-	-1.53
Net Debt to EBITDA	-0.11	-44.12	-30.59	-21.29	-25.99	9.25	9.35	9.89	-1.52	-	-1.41
Long-Term Debt to EBITDA	0.27	-43.74	-29.26	-20.09	-26.70	11.56	11.42	11.65	-1.51	-	-1.13
Debt to NOPAT	0.73	-117.02	-48.14	-32.25	-31.46	-124.99	-99.79	-71.99	-2.21	-	-2.01
Net Debt to NOPAT	-0.31	-102.23	-45.50	-30.90	-27.41	-96.47	-78.55	-58.69	-1.84	-	-1.85
Long-Term Debt to NOPAT	0.73	-101.36	-43.52	-29.16	-28.16	-120.56	-95.99	-69.12	-1.83	-	-1.49
Altman Z-Score	5.63	0.40	0.57	0.56	0.60	0.70	0.66	0.65	-0.69	-	0.62
Noncontrolling Interest Sharing Ratio	2.62%	2.52%	0.69%	0.67%	0.65%	1.38%	0.30%	0.29%	0.43%	-	0.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	6.23	0.61	0.44	0.40	0.67	1.39	1.26	1.22	0.61	-	0.30
Quick Ratio	5.61	0.44	0.26	0.23	0.24	1.16	1.03	0.97	0.51	-	0.24
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	52	-875	-37,751	-37,760	-37,965	-606	-678	-1,044	-257	12,014	13,077
Operating Cash Flow to CapEx	58.15%	73.00%	86.85%	138.13%	115.91%	13.23%	80.01%	2.56%	43.62%	-	178.58%
Free Cash Flow to Firm to Interest Expense	2.38	-32.53	-379.76	-465.22	-465.81	-2.76	-2.37	-3.74	-0.68	-	22.06
Operating Cash Flow to Interest Expense	22.14	15.29	4.54	5.91	3.39	0.21	0.72	0.03	0.30	-	0.40
Operating Cash Flow Less CapEx to Interest Expense	-15.93	-5.66	-0.69	1.63	0.47	-1.36	-0.18	-1.02	-0.38	-	0.18
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	4.85	0.29	0.54	0.53	0.50	0.27	0.27	0.27	0.30	-	0.29
Accounts Receivable Turnover	125.19	14.77	26.11	25.14	24.00	13.64	14.21	13.98	13.63	-	12.12
Inventory Turnover	0.00	14.73	0.00	0.00	0.00	18.09	19.14	21.38	22.84	-	22.29
Fixed Asset Turnover	13.64	1.95	2.83	2.80	2.80	1.69	1.69	1.70	2.45	-	2.65
Accounts Payable Turnover	60.36	10.58	23.36	20.56	20.15	13.38	15.84	14.22	14.24	-	14.19
Days Sales Outstanding (DSO)	2.92	24.72	13.98	14.52	15.21	26.76	25.69	26.12	26.78	-	30.11
Days Inventory Outstanding (DIO)	0.00	24.78	0.00	0.00	0.00	20.17	19.08	17.08	15.98	-	16.37
Days Payable Outstanding (DPO)	6.05	34.49	15.62	17.75	18.12	27.28	23.04	25.66	25.63	-	25.73
Cash Conversion Cycle (CCC)	-3.13	15.00	-1.64	-3.24	-2.91	19.66	21.72	17.53	17.13	-	20.76
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,037	40,573	40,840	40,776	40,890	41,131	41,457	41,670	29,498	28,571	28,655
Invested Capital Turnover	9.75	0.42	0.76	0.74	0.73	0.39	0.38	0.37	0.43	-	0.42
Increase / (Decrease) in Invested Capital	-74	278	37,740	37,714	37,853	558	616	895	-11,392	-12,559	-12,802
Enterprise Value (EV)	869	21,786	24,524	25,749	27,784	26,812	28,109	29,586	43,885	-	56,216
Market Capitalization	1,404	1,390	3,869	4,836	6,743	6,225	7,327	7,960	21,970	-	33,819
Book Value per Share	$42.62	$236.93	$72.84	$72.09	$71.57	$74.28	$69.85	$68.68	$24.16	$20.03	$19.49
Tangible Book Value per Share	$36.10	$234.87	$72.37	$71.77	$71.27	$74.00	$69.60	$68.44	$23.94	$19.84	$19.32
Total Capital	5,163	43,152	41,629	41,394	43,578	46,849	46,395	46,246	33,318	31,792	29,930
Total Debt	1,497	22,764	21,787	21,762	24,078	26,603	26,333	26,455	26,311	25,980	24,253
Total Long-Term Debt	1,497	19,717	19,697	19,679	21,557	25,660	25,328	25,402	21,791	18,659	18,015
Net Debt	-628	19,887	20,591	20,854	20,983	20,533	20,726	21,570	21,859	22,450	22,351
Capital Expenditures (CapEx)	830	563	520	347	238	344	258	293	256	158	133
Debt-free, Cash-free Net Working Capital (DFCFNWC)	87	-2,525	-2,564	-2,627	-2,680	-2,491	-2,635	-2,221	-3,495	-3,069	-3,495
Debt-free Net Working Capital (DFNWC)	2,076	-80	-1,798	-2,106	42	3,208	2,597	2,296	589	91	-1,979
Net Working Capital (NWC)	2,076	-3,127	-3,888	-4,189	-2,479	2,265	1,593	1,242	-3,930	-7,230	-8,216
Net Nonoperating Expense (NNE)	97	1,425	98	162	31	-383	142	157	1,132	670	422
Net Nonoperating Obligations (NNO)	-628	20,185	20,999	21,144	21,390	20,886	21,394	21,879	22,491	22,759	22,977
Total Depreciation and Amortization (D&A)	397	482	485	508	477	460	488	493	391	213	167
Debt-free, Cash-free Net Working Capital to Revenue	0.29%	-14.84%	-15.41%	-16.18%	-16.73%	-15.74%	-16.80%	-14.38%	-23.03%	-	-23.61%
Debt-free Net Working Capital to Revenue	6.92%	-0.47%	-10.80%	-12.97%	0.26%	20.27%	16.56%	14.86%	3.88%	-	-13.37%
Net Working Capital to Revenue	6.92%	-18.38%	-23.36%	-25.80%	-15.47%	14.31%	10.16%	8.04%	-25.90%	-	-55.51%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.04	($7.50)	($0.40)	($0.76)	($0.52)	$1.24	($0.71)	($1.06)	($44.37)	($4.27)	($0.51)
Adjusted Weighted Average Basic Shares Outstanding	83.91M	270.84M	271.52M	271.59M	271.74M	274.08M	286.51M	287.51M	288.05M	287.59M	289.01M
Adjusted Diluted Earnings per Share	$0.04	($7.28)	($0.40)	($0.76)	($0.52)	$1.24	($0.71)	($1.06)	($44.37)	($4.27)	($0.51)
Adjusted Weighted Average Diluted Shares Outstanding	83.91M	270.84M	271.52M	271.59M	271.74M	274.08M	286.51M	287.51M	288.05M	287.59M	289.01M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	83.91M	271.52M	271.52M	271.68M	271.84M	286.44M	287.38M	287.72M	287.88M	288.88M	289.81M
Normalized Net Operating Profit after Tax (NOPAT)	-22	-66	-11	-46	-113	-48	-62	-149	-112	-546	229
Normalized NOPAT Margin	-0.53%	-1.58%	-0.27%	-1.16%	-2.89%	-1.21%	-1.59%	-4.01%	-3.11%	-	6.24%
Pre Tax Income Margin	-4.34%	-58.60%	-2.75%	-5.67%	-4.60%	11.04%	-6.91%	-10.53%	-468.61%	-	-4.59%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-9.19	-91.26	-0.42	-1.93	-1.33	2.72	-0.16	-0.64	-44.06	-	0.67
NOPAT to Interest Expense	-1.01	-22.19	-0.11	-0.56	-1.38	-0.22	-0.22	-0.54	-30.89	-	0.46
EBIT Less CapEx to Interest Expense	-47.26	-112.22	-5.64	-6.21	-4.26	1.15	-1.07	-1.69	-44.74	-	0.44
NOPAT Less CapEx to Interest Expense	-39.07	-43.14	-5.33	-4.84	-4.30	-1.79	-1.12	-1.58	-31.57	-	0.24
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-6.69%	-27.35%	-22.45%	-22.22%	-354.98%	0.00%	0.00%	0.00%	-	0.00%
Augmented Payout Ratio	0.00%	-6.69%	-27.35%	-22.45%	-22.22%	-354.98%	0.00%	0.00%	-0.37%	-	0.00%

Financials Breakdown Chart

Key Financial Trends

EchoStar (NASDAQ:SATS) has demonstrated a large, revenue‑scale operation with meaningful volatility in profitability and a heavily leveraged balance sheet. Below is a concise, four‑year view drawn from the quarterly cash flow, income statement, and balance sheet data you provided. Numbers are shown in USD unless noted otherwise.

Steady top‑line scale in 2025 quarters: Operating revenue was about 3.61–3.80 billion per quarter in 2025 (Q3 2025: 3,614,258,000; Q4 2025: 3,796,014,000; Q2 2025: 3,724,959,000; Q1 2025: 3,869,758,000). This shows ongoing, sizable revenue generation even as earnings swing.
Debt deleveraging in mid‑2025: Long‑term debt declined from 25,401,688,000 in Q2 2025 to 21,791,251,000 in Q3 2025, a reduction of about 3.6 billion, signaling progress on balance‑sheet leverage.
Cash flow from operations at points in 2025 improved versus prior quarters: Q3 2025 net cash from continuing operating activities was 111,681,000 (positive), and Q2 2025 was 7,512,000, with Q1 2025 at 206,755,000. This indicates periods of genuine cash generation from core operations.
Modest equity funding in 2025: Issuance of common equity contributed cash in 2025 periods (Q3 2025: 28,852,000; Q4 2025: 13,353,000). While small, these actions can help liquidity when paired with other financing sources.
Large asset base supports scale but comes with heavy noncurrent asset allocations: Total assets were around 60 billion in early 2025 (e.g., Q1 2025: 60.57B; Q2 2025: 59.88B). A substantial portion is tied to long‑lived assets and intangibles, which can carry impairment risk and affect future impairment charges.
Liquidity profile shows tight working capital at times: In Q3 2025, Total Current Assets were about 6.03B vs. Total Current Liabilities of roughly 9.96B, implying negative working capital and potential liquidity pressure despite a large asset base.
Profitability is highly volatile, with a notable impairment in 2025: Q3 2025 carries a massive impairment expense (approx. 16.48B) that overwhelmed operating profit, producing a large quarterly loss. This impairment is a one‑off but materially affects the bottom line when it occurs.
Top‑line gross margin has fluctuated: Gross profit margins have moved between roughly 34% and 43% across recent quarters (for example, Q3 2025 gross profit of about 1.24B on 3.61B revenue vs. Q4 2025 gross profit of about 1.61B on 3.80B revenue), indicating margin pressure or variability in cost structure and mix.

Net income remains negative in most quarters, highlighting ongoing profitability challenges: Examples include 2025 Q4 net income continuing operations of about -1.215B, and 2025 Q3 net income continuing operations of around -12.8B (driven by the large impairment), with several other quarters showing sizable losses.
Significant financing outflows and leverage risk persist: Net cash from financing activities was negative in several quarters (e.g., Q4 2025: -347,441,000; Q3 2025: -347,441,000), indicating ongoing cash outflows to service debt and fund activity despite debt reduction and modest equity issuances.

05/17/26 07:08 PM ETAI Generated. May Contain Errors.

EchoStar Financials - Frequently Asked Questions

According to the most recent income statement we have on file, EchoStar's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

EchoStar's net income appears to be on an upward trend, with a most recent value of -$14.51 billion in 2025, falling from $149.37 million in 2015. The previous period was -$124.52 million in 2024. Find out what analysts predict for EchoStar in the coming months.

EchoStar's total operating income in 2025 was -$17.72 billion, based on the following breakdown:

Total Gross Profit: $5.56 billion
Total Operating Expenses: $23.28 billion

Over the last 10 years, EchoStar's total revenue changed from $1.85 billion in 2015 to $15.00 billion in 2025, a change of 711.6%.

EchoStar's total liabilities were at $37.20 billion at the end of 2025, a 8.6% decrease from 2024, and a 985.4% increase since 2015.

In the past 10 years, EchoStar's cash and equivalents has ranged from $535.89 million in 2021 to $4.31 billion in 2024, and is currently $1.88 billion as of their latest financial filing in 2025.

Over the last 10 years, EchoStar's book value per share changed from 39.91 in 2015 to 20.03 in 2025, a change of -49.8%.

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Financial statements for NASDAQ:SATS last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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EchoStar (SATS) Financials

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EchoStar (SATS) Financials

Annual Income Statements for EchoStar

Quarterly Income Statements for EchoStar

Annual Cash Flow Statements for EchoStar

Quarterly Cash Flow Statements for EchoStar

Annual Balance Sheets for EchoStar

Quarterly Balance Sheets for EchoStar

Annual Metrics And Ratios for EchoStar

Quarterly Metrics And Ratios for EchoStar

Financials Breakdown Chart

Key Financial Trends

EchoStar Financials - Frequently Asked Questions

When does EchoStar's fiscal year end?

How has EchoStar's net income changed over the last 10 years?

What is EchoStar's operating income?

How has EchoStar's revenue changed over the last 10 years?

How much debt does EchoStar have?

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How has EchoStar's book value per share changed over the last 10 years?

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