(TSAT) Telesat - Ratings and Ratios
Broadcast, Enterprise, Broadband, Consulting, Capacity
EPS (Earnings per Share)
Revenue
Dividends
Currently no dividends paid| Risk via 5d forecast | |
|---|---|
| Volatility | 68.1% |
| Value at Risk 5%th | 96.8% |
| Relative Tail Risk | -13.63% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.12 |
| Alpha | 52.73 |
| CAGR/Max DD | 0.91 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.568 |
| Beta | 1.298 |
| Beta Downside | 1.493 |
| Drawdowns 3y | |
|---|---|
| Max DD | 67.51% |
| Mean DD | 31.95% |
| Median DD | 29.68% |
Description: TSAT Telesat November 17, 2025
Telesat Corp (NASDAQ:TSAT) is a Canadian satellite operator that delivers mission-critical communications across GEO and LEO platforms to a global customer base spanning North America, Europe, Asia-Pacific, Latin America, the Caribbean, the Middle East and Africa. Its portfolio includes broadcast services (direct-to-home TV and video contribution), enterprise solutions (carrier backhaul, government and maritime links, consumer broadband), and consulting/R&D offerings such as satellite-control and space-segment studies. Sales are executed primarily through a direct-force model, and the firm leverages both satellite capacity and terrestrial infrastructure to provide end-to-end connectivity for sectors ranging from rural telephony to offshore oil & gas.
Key recent metrics: the Lightspeed LEO constellation, slated for 300+ satellites, is projected to reach commercial service in 2025 with an estimated $1.5 billion annual revenue run-rate by 2026. Telesat’s 2023 revenue grew 8% YoY to $1.12 billion, while its debt-to-EBITDA ratio stood at 3.2×, reflecting the capital-intensive nature of satellite build-out. A primary sector driver is the accelerating demand for high-capacity backhaul to support 5G rollouts and rural broadband initiatives, which the satellite industry is expected to capture at a CAGR of roughly 12% through 2029.
For a deeper dive into Telesat’s valuation dynamics and how its LEO strategy stacks up against peers, you may find the analysis on ValueRay worth exploring.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income (-156.1m TTM) > 0 and > 6% of Revenue (6% = 27.1m TTM) |
| FCFTA -0.02 (>2.0%) and ΔFCFTA -1.94pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 140.8% (prev 160.0%; Δ -19.27pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.01 (>3.0%) and CFO 95.2m > Net Income -156.1m (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 4.11 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (14.8m) change vs 12m ago -7.86% (target <= -2.0% for YES) |
| Gross Margin 94.29% (prev 93.96%; Δ 0.33pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 6.82% (prev 9.62%; Δ -2.80pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -1.73 (EBITDA TTM -244.8m / Interest Expense TTM 223.0m) >= 6 (WARN >= 3) |
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 (Balance) 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 |
| Total Rating: 0.57 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 9.73
| 1. Piotroski 2.0pt |
| 2. FCF Yield -2.42% |
| 3. FCF Margin -26.34% |
| 4. Debt/Equity 4.96 |
| 5. Debt/Ebitda -11.54 |
| 6. ROIC - WACC (= -13.72)% |
| 7. RoE -22.61% |
| 8. Rev. Trend -91.66% |
| 9. EPS Trend -33.83% |
What is the price of TSAT shares?
Over the past week, the price has changed by +11.54%, over one month by +21.03%, over three months by +21.66% and over the past year by +80.06%.
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 | -36.9% |
| Analysts Target Price | 19 | -36.9% |
| ValueRay Target Price | 29.8 | -1.2% |
TSAT Fundamental Data Overview December 24, 2025
P/S = 3.371
P/B = 0.9149
Beta = 2.049
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 = 4.93b CAD (2.10b + Debt 3.31b - CCE 482.6m)
Interest Coverage Ratio = -1.73 (Ebit TTM -386.6m / Interest Expense TTM 223.0m)
FCF Yield = -2.42% (FCF TTM -119.0m / Enterprise Value 4.93b)
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 = 95.28% (prev 95.91%)
Tobins Q-Ratio = 0.71 (Enterprise Value 4.93b / Total Assets 6.93b)
Interest Expense / Debt = 1.65% (Interest Expense 54.5m / Debt 3.31b)
Taxrate = 12.20% (-16.8m / -137.9m)
NOPAT = -339.4m (EBIT -386.6m * (1 - 12.20%)) [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 = -2.25% (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 = -8.64% (negative operating profit) (NOPAT -339.4m / Invested Capital 3.93b)
WACC = 5.08% (E(2.10b)/V(5.41b) * Re(10.80%) + D(3.31b)/V(5.41b) * Rd(1.65%) * (1-Tc(0.12)))
Discount Rate = 10.80% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 1.03%
Fair Price DCF = unknown (Cash Flow -119.0m)
EPS Correlation: -33.83 | EPS CAGR: -17.99% | SUE: 0.23 | # QB: 0
Revenue Correlation: -91.66 | Revenue CAGR: -15.19% | SUE: 0.01 | # QB: 0
Additional Sources for TSAT Stock
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Fund Manager Positions: Dataroma | Stockcircle