(ETL) Eutelsat Communications - Overview
Stock: Satellite Capacity, Video, Connectivity, Mobility, Government
| Risk 5d forecast | |
|---|---|
| Volatility | 68.6% |
| Relative Tail Risk | -20.6% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.89 |
| Alpha | 57.20 |
| Character TTM | |
|---|---|
| Beta | -0.598 |
| Beta Downside | -0.853 |
| Drawdowns 3y | |
|---|---|
| Max DD | 82.30% |
| CAGR/Max DD | -0.31 |
Description: ETL Eutelsat Communications January 15, 2026
Eutelsat Communications S.A. (ticker ETL) is a French-based operator of geostationary (GEO) and low-Earth-orbit (LEO) telecommunications satellites, serving video, broadband, mobile and government markets across Europe, the Americas, the Middle East, Africa and Asia.
The firm monetises satellite capacity through direct sales and a network of distributors, offering services such as fixed-line broadband, maritime and in-flight connectivity, and technical support for earth-station operators. Its customer base includes international telecom carriers, broadcasters, corporate network integrators, and sovereign agencies.
As of FY 2023, Eutelsat reported revenue of roughly €1.2 billion, an adjusted EBITDA margin near 30 %, and free cash flow of €180 million, supported by a fleet of 39 operational satellites (including the newly launched Konnect L-band LEO constellation).
Key drivers for the business are the accelerating demand for high-throughput satellite broadband in underserved regions, the growth of connectivity services for maritime and aviation sectors, and competitive pressure from emerging LEO constellations (e.g., SpaceX Starlink) that are compressing pricing and prompting consolidation in the satellite industry.
For a deeper, data-rich assessment of Eutelsat’s valuation dynamics, you may find the analyst tools on ValueRay worth a look.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: -1.39b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA -11.43 > 1.0 |
| NWC/Revenue: 17.90% < 20% (prev 27.79%; Δ -9.89% < -1%) |
| CFO/TA 0.10 > 3% & CFO 713.0m > Net Income -1.39b |
| Net Debt (2.65b) to EBITDA (1.03b): 2.58 < 3 |
| Current Ratio: 1.38 > 1.5 & < 3 |
| Outstanding Shares: last quarter (475.9m) vs 12m ago 91.46% < -2% |
| Gross Margin: 53.69% > 18% (prev 0.64%; Δ 5304 % > 0.5%) |
| Asset Turnover: 34.10% > 50% (prev 22.91%; Δ 11.19% > 0%) |
| Interest Coverage Ratio: -3.56 > 6 (EBITDA TTM 1.03b / Interest Expense TTM 307.5m) |
Altman Z'' -1.20
| A: 0.06 (Total Current Assets 1.59b - Total Current Liabilities 1.15b) / Total Assets 7.00b |
| B: -0.14 (Retained Earnings -993.0m / Total Assets 7.00b) |
| C: -0.15 (EBIT TTM -1.10b / Avg Total Assets 7.20b) |
| D: -0.12 (Book Value of Equity -517.8m / Total Liabilities 4.34b) |
| Altman-Z'' Score: -1.20 = CCC |
Beneish M -3.03
| DSRI: 1.07 (Receivables 340.8m/220.8m, Revenue 2.46b/1.70b) |
| GMI: 1.20 (GM 53.69% / 64.18%) |
| AQI: 0.58 (AQ_t 0.18 / AQ_t-1 0.31) |
| SGI: 1.45 (Revenue 2.46b / 1.70b) |
| TATA: -0.30 (NI -1.39b - CFO 713.0m) / TA 7.00b) |
| Beneish M-Score: -3.03 (Cap -4..+1) = AA |
What is the price of ETL shares?
Over the past week, the price has changed by -7.88%, over one month by +14.53%, over three months by -15.57% and over the past year by +55.73%.
Is ETL a buy, sell or hold?
What are the forecasts/targets for the ETL price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 2.4 | 13.3% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 1.6 | -24.2% |
ETL Fundamental Data Overview February 03, 2026
P/E Forward = 6.9735
P/S = 2.1263
P/B = 1.0376
P/EG = 45.03
Revenue TTM = 2.46b EUR
EBIT TTM = -1.10b EUR
EBITDA TTM = 1.03b EUR
Long Term Debt = 2.49b EUR (from longTermDebt, last quarter)
Short Term Debt = 531.4m EUR (from shortTermDebt, last quarter)
Debt = 3.17b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.65b EUR (from netDebt column, last quarter)
Enterprise Value = 5.24b EUR (2.64b + Debt 3.17b - CCE 574.6m)
Interest Coverage Ratio = -3.56 (Ebit TTM -1.10b / Interest Expense TTM 307.5m)
EV/FCF = -172.2x (Enterprise Value 5.24b / FCF TTM -30.4m)
FCF Yield = -0.58% (FCF TTM -30.4m / Enterprise Value 5.24b)
FCF Margin = -1.24% (FCF TTM -30.4m / Revenue TTM 2.46b)
Net Margin = -56.65% (Net Income TTM -1.39b / Revenue TTM 2.46b)
Gross Margin = 53.69% ((Revenue TTM 2.46b - Cost of Revenue TTM 1.14b) / Revenue TTM)
Gross Margin QoQ = 22.48% (prev 79.84%)
Tobins Q-Ratio = 0.75 (Enterprise Value 5.24b / Total Assets 7.00b)
Interest Expense / Debt = 2.91% (Interest Expense 92.0m / Debt 3.17b)
Taxrate = 25.0% (EU avg default 25%)
NOPAT = -821.5m (EBIT -1.10b * (1 - 25.00%)) [loss with tax shield]
Current Ratio = 1.38 (Total Current Assets 1.59b / Total Current Liabilities 1.15b)
Debt / Equity = 1.22 (Debt 3.17b / totalStockholderEquity, last quarter 2.59b)
Debt / EBITDA = 2.58 (Net Debt 2.65b / EBITDA 1.03b)
Debt / FCF = -87.12 (negative FCF - burning cash) (Net Debt 2.65b / FCF TTM -30.4m)
Total Stockholder Equity = 3.37b (last 4 quarters mean from totalStockholderEquity)
RoA = -19.32% (Net Income -1.39b / Total Assets 7.00b)
RoE = -41.27% (Net Income TTM -1.39b / Total Stockholder Equity 3.37b)
RoCE = -18.68% (EBIT -1.10b / Capital Employed (Equity 3.37b + L.T.Debt 2.49b))
RoIC = -12.90% (negative operating profit) (NOPAT -821.5m / Invested Capital 6.37b)
WACC = 2.88% (E(2.64b)/V(5.81b) * Re(3.71%) + D(3.17b)/V(5.81b) * Rd(2.91%) * (1-Tc(0.25)))
Discount Rate = 3.71% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 100.0 | Cagr: 14.72%
Fair Price DCF = unknown (Cash Flow -30.4m)
EPS Correlation: -54.51 | EPS CAGR: -7.80% | SUE: 0.0 | # QB: 0
Revenue Correlation: 10.99 | Revenue CAGR: 0.48% | SUE: 0.09 | # QB: 0
EPS current Year (2026-06-30): EPS=-0.41 | Chg30d=+0.007 | Revisions Net=+1 | Growth EPS=+82.1% | Growth Revenue=-2.6%
EPS next Year (2027-06-30): EPS=-0.29 | Chg30d=+0.022 | Revisions Net=+3 | Growth EPS=+28.9% | Growth Revenue=+5.3%