EchoStar Corporation

ECHO · NASDAQ · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006
Valuation
Market cap	$31,261	$6,276	$4,255	$1,387	$2,369	$2,075	$4,190	–	–	–	–	–	–	–	–	–	–	–	–	–
Enterprise value	$59,330	$30,598	$27,765	$22,901	$2,531	$2,129	$4,307	–	–	–	–	–	–	–	–	–	–	–	–	–
P/E (TTM) at period end	–	–	–	0.56×	0.95×	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
P/S (TTM) at period end	2.08×	0.40×	0.25×	0.07×	0.12×	1.10×	2.22×	–	–	–	–	–	–	–	–	–	–	–	–	–
P/B at period end	5.42×	0.31×	0.21×	0.06×	0.71×	0.59×	1.14×	–	–	–	–	–	–	–	–	–	–	–	–	–
EV / EBITDA (TTM)	–	18.82×	21.03×	6.72×	0.55×	6.07×	7.64×	–	–	–	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	3.95×	1.93×	1.63×	1.23×	0.13×	1.13×	2.28×	–	–	–	–	–	–	–	–	–	–	–	–	–
Returns
Return on equity	(251.4%)	(0.6%)	(8.6%)	11.5%	74.1%	(1.1%)	(1.7%)	(1.0%)	9.5%	4.6%	4.4%	4.7%	0.1%	6.7%	0.1%	6.8%	13.7%	(43.0%)	(7.1%)	(4.2%)
Return on invested capital	(39.0%)	(0.7%)	(0.5%)	3.8%	12.8%	0.6%	1.5%	0.6%	–	3.7%	3.4%	5.0%	–	2.0%	0.3%	3.1%	0.1%	(22.9%)	(7.4%)	(4.6%)
Dividend yield	–	–	–	0.1%	–	–	0.1%	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	0.42×	1.39×	0.61×	1.05×	4.19×	2.04×	5.72×	2.66×	8.98×	7.01×	4.05×	4.50×	4.22×	3.77×	3.95×	4.28×	3.75×	3.33×	12.12×	22.80×
Debt / equity	4.51×	1.32×	1.15×	0.14×	0.45×	0.68×	0.65×	0.80×	0.87×	0.93×	0.59×	0.67×	0.75×	0.79×	0.83×	0.14×	0.17×	0.02×	0.00×	0.00×
Effective tax rate	23.2%	(64.8%)	15.4%	23.9%	24.7%	(86.5%)	(22.0%)	(5.2%)	481.7%	37.0%	36.8%	17.3%	110.0%	(8.4%)	83.4%	29.2%	14.3%	9.3%	(2.5%)	(0.4%)
Share count
Diluted shares outstanding	288	274	271	308	313	98	97	96	97	94	93	93	91	88	87	85	86	89	90	90

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006
Revenue and gross profit
Revenue	$14,654	$15,005	$15,826	$17,016	$18,634	$19,819	$1,888	$1,886	$1,763	$1,886	$1,810	$1,849	$3,446	$3,282	$3,122	$2,761	$2,350	$1,904	$2,151	$1,544	$29
Cost of revenue	($8,478)	($9,445)	($10,136)	($9,510)	($10,111)	($10,717)	($744)	($787)	($741)	($212)	($204)	($195)	($1,289)	($1,431)	($1,398)	($1,415)	($1,553)	($1,267)	($1,495)	($1,452)	($20)
Gross profit	$6,176	$5,560	$5,690	$7,505	$8,523	$9,101	$1,144	$1,099	$1,022	$1,673	$1,607	$1,653	$2,157	$1,852	$1,724	$1,347	$797	$636	$656	$92	$9
Operating expenses
Research and development	($64)	($68)	($91)	($110)	($110)	($91)	($29)	($26)	($28)	($32)	($31)	($26)	($61)	($68)	($70)	($51)	($46)	($44)	($35)	($79)	($7)
Selling, general and administrative	($2,340)	($2,380)	($2,427)	($2,989)	($3,015)	($2,686)	($475)	($509)	($436)	($370)	($325)	($318)	($372)	($358)	($373)	($289)	($128)	($117)	($138)	($90)	($24)
Total operating expenses	($22,692)	($23,283)	($5,994)	($7,783)	($6,290)	($5,679)	($1,031)	($1,026)	($986)	($1,643)	($1,310)	($1,380)	($1,828)	($1,748)	($1,624)	($1,266)	($655)	($631)	($1,296)	($179)	($31)
Total costs and expenses	($31,170)	($32,728)	($16,130)	($17,294)	($16,401)	($16,396)	($1,775)	($1,813)	($1,727)	($1,855)	($1,514)	($1,575)	($3,117)	($3,179)	($3,022)	($2,681)	($2,208)	($1,899)	($2,791)	($1,630)	($51)
Operating income	($16,516)	($17,723)	($304)	($278)	$2,233	$3,422	$112	$73	$36	$31	$296	$274	$328	$104	$100	$81	$142	$5	($641)	($86)	($22)
Earnings
EBITDA	($15,575)	($16,138)	$1,626	$1,320	$3,408	$4,636	$350	$564	$493	$416	$729	$735	$885	$611	$557	$467	$371	$249	($376)	($77)	($21)
Interest income	$168	$229	$117	$207	$93	$34	$9	$2	$68	$98	$31	$10	$9	$15	$11	$11	$14	$26	$35	–	–
Interest expense	($2,058)	($1,522)	($482)	($90)	($57)	($96)	($148)	($251)	($219)	($184)	($123)	($122)	($171)	($193)	($153)	($83)	($15)	($32)	($32)	–	–
Pre-tax income	($8,612)	($18,893)	($76)	($1,932)	$3,335	$3,350	($28)	($93)	($126)	($32)	$217	$139	$178	($34)	$195	$26	$289	$425	($1,041)	($83)	($21)
Income tax expense	$2,930	$4,386	($49)	$297	($798)	($828)	($24)	($20)	($7)	$155	($80)	($51)	($31)	$37	$16	($22)	($84)	($61)	$97	($2)	($0)
Net income	($5,673)	($14,497)	($120)	($1,702)	$2,478	$2,486	($52)	($63)	($40)	$393	$180	$153	$153	$3	$211	$4	$204	$365	($958)	($85)	($21)
Per share
Diluted EPS (GAAP)	($24.94)	($50.41)	($0.44)	($6.28)	$8.05	$7.94	($0.41)	($0.65)	($0.42)	$4.07	$1.92	$1.75	$1.78	$0.03	$2.40	$0.04	$2.40	$4.24	($10.73)	($0.95)	($0.23)
Basic EPS (GAAP)	($19.89)	($50.41)	($0.44)	($6.28)	$9.17	$9.04	($0.41)	($0.65)	($0.42)	$4.13	$1.94	$1.77	$1.81	$0.03	$2.42	$0.04	$2.40	$4.25	($10.73)	($0.95)	($0.23)
Basic shares outstanding	289	288	274	271	270	275	98	97	96	95	94	92	91	89	87	86	85	86	89	90	90
Margins
Gross margin	42.1%	37.1%	36.0%	44.1%	45.7%	45.9%	60.6%	58.3%	58.0%	88.7%	88.7%	89.4%	62.6%	56.4%	55.2%	48.8%	33.9%	33.4%	30.5%	6.0%	30.5%
Operating margin	(112.7%)	(118.1%)	(1.9%)	(1.6%)	12.0%	17.3%	6.0%	3.9%	2.1%	1.6%	16.4%	14.8%	9.5%	3.2%	3.2%	2.9%	6.1%	0.3%	(29.8%)	(5.6%)	(75.0%)
Net margin	(38.7%)	(96.6%)	(0.8%)	(10.0%)	13.3%	12.5%	(2.7%)	(3.3%)	(2.3%)	20.8%	9.9%	8.3%	4.4%	0.1%	6.8%	0.1%	8.7%	19.2%	(44.6%)	(5.5%)	(72.0%)

Analyst consensus

Buy5 analysts

Bearish · 0 · Hold · 0 · Bullish · 5

Earnings history

	EPS	Estimate
Q3 2024	$-0.52	$-0.39	Miss
Q4 2024	$1.24	$-0.55	Beat
Q1 2025	$-0.71	$-0.74	Beat
Q2 2025	$-1.06	$-0.93	Miss
Q3 2025	$-44.37	$-1.21	Miss
Q4 2025	$-4.27	$-0.94	Miss
Q1 2026	$-0.51	$-0.48	Miss
Q2 2026	$24.12	$-0.10	Beat

Peers

Company overview

IPO dateJan 1, 2008

CEOCharlie Ergen

Employees12,100

SectorCommunication Services

IndustryTelecommunications Services

CountryUS

ExchangeNASDAQ Global Select

Websiteechostar.com

EchoStar Corp. engages in the design, development, and distribution of digital set-top boxes and products for direct-to-home satellite service providers. It operates through the following business segments: Pay-TV, Retail Wireless, and Broadband and Satellite Services. The Pay-TV segment business strategy is to be the best provider of video services in the United States by providing products with the best technology, outstanding customer service, and great value. The Retail Wireless segment offers Retail Wireless services as well as a competitive portfolio of wireless devices. The Broadband and Satellite Services segment business strategy is to maintain and improve leadership position and competitive advantage through development of technologies and services marketed to selected sectors within the consumer, enterprise and government markets globally. The company was founded by Charlie William Ergen, Candy Ergen, and James DeFranco in 1980 and is headquartered in Englewood, CO.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.