TSAT Stock Analysis: Telesat | NASDAQ
Communication Equipment | NASDAQ, USA | Market Cap: 1.937m USD | 12M Return: 55.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.7M
Qual. Beats: 0
Rev. Trend: -98.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Telesat Corporation (NASDAQ: TSAT) is a Canadian satellite operator founded in 1969 and headquartered in Ottawa, providing mission-critical communications solutions to customers across the Americas, Europe, the Middle East, Africa, Asia, and Australia. The company operates through two segments: Geostationary (GEO) satellites and Low Earth Orbit (LEO) satellites, with its flagship LEO project - Telesat Lightspeed - aimed at building a global broadband constellation. Telesat monetizes its satellite capacity through broadcast services (direct-to-home TV, video distribution), enterprise and government connectivity (telecom backhaul, resource industries, maritime and aeronautical), consulting and research services, and direct-to-consumer broadband offerings, sold primarily through a direct sales force.
As one of the worlds longest-established commercial satellite operators, Telesat competes in a global industry where incumbents are being challenged by newer entrants deploying large LEO broadband constellations. The sector is capital-intensive, with operators relying on long-lived orbital assets and long-term capacity contracts with broadcasters, telecom carriers, and government customers to generate recurring revenue. Telesats dual GEO/LEO strategy positions it to serve both traditional geostationary use cases and the growing demand for low-latency global broadband.
- Lightspeed LEO constellation delays and capex overruns weigh on margins
- GEO broadcast segment revenue declines amid shift to LEO competition
- High debt load from Lightspeed constrains capital allocation flexibility
| Net Income: -185.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.12 > 0.02 and ΔFCF/TA -12.48 > 1.0 |
| NWC/Revenue: -472.9% < 20% (prev 177.4%; Δ -650.3% < -1%) |
| CFO/TA -0.01 > 3% & CFO -68.6m > Net Income -185.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.25 > 1.5 & < 3 |
| Outstanding Shares: last quarter (15.0m) vs 12m ago 4.16% < -2% |
| Gross Margin: 64.06% > 18% (prev 93.65%; Δ -29.59% > 0.5%) |
| Asset Turnover: 6.51% > 50% (prev 7.52%; Δ -1.01% > 0%) |
| Interest Coverage Ratio: -2.34 > 6 (EBIT TTM -495.5m / Interest Expense TTM 211.9m) |
| A: -0.38 (Total Current Assets 616.7m - Total Current Liabilities 2.45b) / Total Assets 4.81b |
| B: 0.04 (Retained Earnings 204.7m / Total Assets 4.81b) |
| C: -0.08 (EBIT TTM -495.5m / Avg Total Assets 5.97b) |
| D: 0.10 (Book Value of Equity 373.1m / Total Liabilities 3.61b) |
| Altman-Z'' = -2.82 = D |
| DSRI: 0.75 (Receivables 49.5m/91.1m, Revenue 388.4m/535.6m) |
| GMI: 1.46 (GM 93.65% / 64.06%) |
| AQI: 0.89 (AQ_t 0.44 / AQ_t-1 0.50) |
| SGI: 0.73 (Revenue 388.4m / 535.6m) |
| TATA: -0.02 (NI -185.3m - CFO -68.6m) / TA 4.81b) |
| Beneish M = -3.08 (Cap -4..+1) = AA |
As of July 15, 2026, the stock is trading at USD 39.01 with a total of 218,664 shares traded. Over the past week, the price has changed by -11.22%, over one month by -19.32%, over three months by -13.77% and over the past year by +55.39%.
Current recommended Stop Loss: 32.20 (which is 17.5% or 1.7 ATR below the current price).
Telesat has no consensus analysts rating.
| Analysts Target Price | 19 | -51.2% |
Market Cap CAD = 2.72b (1.94b USD * 1.405 USD.CAD)
P/S = 4.9888
P/B = 1.5694
Revenue TTM = 388.4m CAD
EBIT TTM = -495.5m CAD
EBITDA TTM = -352.6m CAD
Long Term Debt = 1.27b CAD (from longTermDebt, last quarter)
Short Term Debt = 1.71b CAD (from shortTermDebt, last quarter)
Debt = 2.66b CAD (from shortLongTermDebtTotal, last quarter) + Leases 40.1m
Net Debt = 2.28b CAD (calculated: Debt 2.66b - CCE 375.8m)
Enterprise Value = 5.01b CAD (2.72b + Debt 2.66b - CCE 375.8m)
Interest Coverage Ratio = -2.34 (Ebit TTM -495.5m / Interest Expense TTM 211.9m)
EV/FCF = -8.79x (Enterprise Value 5.01b / FCF TTM -569.5m)
FCF Yield = -11.38% (FCF TTM -569.5m / Enterprise Value 5.01b)
FCF Margin = -146.6% (FCF TTM -569.5m / Revenue TTM 388.4m)
Net Margin = -47.71% (Net Income TTM -185.3m / Revenue TTM 388.4m)
Gross Margin = 64.06% ((Revenue TTM 388.4m - Cost of Revenue TTM 139.6m) / Revenue TTM)
Gross Margin QoQ = 26.65% (prev 29.29%)
Tobins Q-Ratio = 1.04 (Enterprise Value 5.01b / Total Assets 4.81b)
Interest Expense / Debt = 7.96% (Interest Expense 211.9m / Debt 2.66b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -391.4m (EBIT -495.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.25 (Total Current Assets 616.7m / Total Current Liabilities 2.45b)
Debt / Equity = 7.13 (Debt 2.66b / totalStockholderEquity, last quarter 373.1m)
Debt / EBITDA = -6.48 (negative EBITDA) (Net Debt 2.28b / EBITDA -352.6m)
Debt / FCF = -4.01 (negative FCF - burning cash) (Net Debt 2.28b / FCF TTM -569.5m)
Total Stockholder Equity = 561.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.11% (Net Income -185.3m / Total Assets 4.81b)
RoE = -32.99% (Net Income TTM -185.3m / Total Stockholder Equity 561.7m)
RoCE = -27.05% (EBIT -495.5m / Capital Employed (Equity 561.7m + L.T.Debt 1.27b))
RoIC = -9.68% (negative operating profit) (NOPAT -391.4m / Invested Capital 4.05b)
WACC = 8.91% (E(2.72b)/V(5.38b) * Re(11.46%) + D(2.66b)/V(5.38b) * Rd(7.96%) * (1-Tc(0.21)))
Discount Rate = 11.46% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 17.70 | Cagr: 1.46%
[DCF] Fair Price = unknown (Cash Flow -569.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.35 | # QB: 0
Revenue Correlation: -98.94 | Revenue CAGR: -22.00% | SUE: 0.00 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS next Quarter (2026-09-30): EPS=0.00 | Chg30d=N/A | Revisions=N/A | Analysts=0
EPS current Year (2026-12-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=-23.6%
EPS next Year (2027-12-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=-14.1%