(TSAT) Telesat - Overview
Stock: Satellite Capacity, Broadcast Services, Enterprise Connectivity, Consulting
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 81.2% |
| Relative Tail Risk | -12.8% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.70 |
| Alpha | 17.18 |
| Character TTM | |
|---|---|
| Beta | 1.211 |
| Beta Downside | 1.386 |
| Drawdowns 3y | |
|---|---|
| Max DD | 67.51% |
| CAGR/Max DD | 0.65 |
Description: TSAT Telesat January 20, 2026
Telesat Corp (NASDAQ:TSAT) is a Canadian satellite operator that delivers mission-critical communications across GEO and emerging LEO platforms. Its portfolio spans broadcast (direct-to-home TV, video contribution), enterprise (carrier backhaul, government, maritime, aeronautical, and consumer broadband) and consulting services, all sold via a direct sales force. The firm leverages both satellite capacity and terrestrial infrastructure to support data, voice, and broadband connectivity for a global client base.
Key recent metrics: FY 2023 revenue was approximately $610 million with a backlog of roughly $1.2 billion, and cash and cash equivalents stood at about $900 million. The company’s flagship LEO “Lightspeed” constellation is slated for up to 298 satellites, with a $2.4 billion contract secured from Microsoft to provide Azure Space connectivity. Sector-wide, satellite broadband demand is being driven by rural-area broadband expansion, 5G backhaul needs, and the growing requirement for resilient communications in offshore energy operations.
For a deeper dive into TSAT’s valuation dynamics and how its growth prospects compare with peers, you might find ValueRay’s analytical tools worth exploring.
Piotroski VR‑10 (Strict, 0-10) 2.5
| Net Income: -156.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -1.94 > 1.0 |
| NWC/Revenue: 140.8% < 20% (prev 160.0%; Δ -19.27% < -1%) |
| CFO/TA 0.01 > 3% & CFO 95.2m > Net Income -156.1m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 4.11 > 1.5 & < 3 |
| Outstanding Shares: last quarter (14.8m) vs 12m ago -7.86% < -2% |
| Gross Margin: 94.29% > 18% (prev 0.94%; Δ 9335 % > 0.5%) |
| Asset Turnover: 6.82% > 50% (prev 9.62%; Δ -2.80% > 0%) |
| Interest Coverage Ratio: -1.73 > 6 (EBITDA TTM -244.8m / Interest Expense TTM 223.0m) |
Altman Z'' 0.57
| A: 0.09 (Total Current Assets 840.5m - Total Current Liabilities 204.4m) / Total Assets 6.93b |
| B: 0.07 (Retained Earnings 452.1m / Total Assets 6.93b) |
| C: -0.06 (EBIT TTM -386.6m / Avg Total Assets 6.63b) |
| D: 0.14 (Book Value of Equity 667.0m / Total Liabilities 4.68b) |
| Altman-Z'' Score: 0.57 = B |
Beneish M -3.25
| DSRI: 1.02 (Receivables 53.2m/70.2m, Revenue 451.9m/609.0m) |
| GMI: 1.00 (GM 94.29% / 93.96%) |
| AQI: 0.97 (AQ_t 0.50 / AQ_t-1 0.51) |
| SGI: 0.74 (Revenue 451.9m / 609.0m) |
| TATA: -0.04 (NI -156.1m - CFO 95.2m) / TA 6.93b) |
| Beneish M-Score: -3.25 (Cap -4..+1) = AA |
What is the price of TSAT shares?
Over the past week, the price has changed by -8.57%, over one month by -16.19%, over three months by -1.15% and over the past year by +33.62%.
Is TSAT a buy, sell or hold?
What are the forecasts/targets for the TSAT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 19 | -28.3% |
| Analysts Target Price | 19 | -28.3% |
| ValueRay Target Price | 26.1 | -1.9% |
TSAT Fundamental Data Overview February 05, 2026
P/S = 3.1793
P/B = 0.857
Revenue TTM = 451.9m CAD
EBIT TTM = -386.6m CAD
EBITDA TTM = -244.8m CAD
Long Term Debt = 3.31b CAD (from longTermDebt, last quarter)
Short Term Debt = 2.04m CAD (from shortTermDebt, last fiscal year)
Debt = 3.31b CAD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.83b CAD (from netDebt column, last quarter)
Enterprise Value = 4.79b CAD (1.96b + Debt 3.31b - CCE 482.6m)
Interest Coverage Ratio = -1.73 (Ebit TTM -386.6m / Interest Expense TTM 223.0m)
EV/FCF = -40.23x (Enterprise Value 4.79b / FCF TTM -119.0m)
FCF Yield = -2.49% (FCF TTM -119.0m / Enterprise Value 4.79b)
FCF Margin = -26.34% (FCF TTM -119.0m / Revenue TTM 451.9m)
Net Margin = -34.55% (Net Income TTM -156.1m / Revenue TTM 451.9m)
Gross Margin = 94.29% ((Revenue TTM 451.9m - Cost of Revenue TTM 25.8m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.69 (Enterprise Value 4.79b / Total Assets 6.93b)
Interest Expense / Debt = 1.65% (Interest Expense 54.5m / Debt 3.31b)
Taxrate = 21.0% (US default 21%)
NOPAT = -305.4m (EBIT -386.6m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.11 (Total Current Assets 840.5m / Total Current Liabilities 204.4m)
Debt / Equity = 4.96 (Debt 3.31b / totalStockholderEquity, last quarter 667.0m)
Debt / EBITDA = -11.54 (negative EBITDA) (Net Debt 2.83b / EBITDA -244.8m)
Debt / FCF = -23.74 (negative FCF - burning cash) (Net Debt 2.83b / FCF TTM -119.0m)
Total Stockholder Equity = 690.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -2.36% (Net Income -156.1m / Total Assets 6.93b)
RoE = -22.61% (Net Income TTM -156.1m / Total Stockholder Equity 690.5m)
RoCE = -9.67% (EBIT -386.6m / Capital Employed (Equity 690.5m + L.T.Debt 3.31b))
RoIC = -7.78% (negative operating profit) (NOPAT -305.4m / Invested Capital 3.93b)
WACC = 4.68% (E(1.96b)/V(5.27b) * Re(10.38%) + D(3.31b)/V(5.27b) * Rd(1.65%) * (1-Tc(0.21)))
Discount Rate = 10.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 1.03%
Fair Price DCF = unknown (Cash Flow -119.0m)
EPS Correlation: -33.82 | EPS CAGR: -17.99% | SUE: 0.23 | # QB: 0
Revenue Correlation: -91.66 | Revenue CAGR: -15.19% | SUE: 0.01 | # QB: 0