TSAT Stock Analysis: Telesat | NASDAQ
Communication Equipment | NASDAQ, USA | Market Cap: 2.477m USD | 12M Return: 49.9% | CA8795123097 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.49M
Qual. Beats: 1
Rev. Trend: -99.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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: -372.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.11 > 0.02 and ΔFCF/TA -10.94 > 1.0 |
| NWC/Revenue: -961.7% < 20% (prev 143.2%; Δ -1.10k% < -1%) |
| CFO/TA -0.02 > 3% & CFO -113.4m > Net Income -372.2m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (15.2m) vs 12m ago -8.11% < -2% |
| Gross Margin: 45.63% > 18% (prev 94.43%; Δ -48.80% > 0.5%) |
| Asset Turnover: 5.35% > 50% (prev 7.24%; Δ -1.89% > 0%) |
| Interest Coverage Ratio: -3.07 > 6 (EBIT TTM -641.2m / Interest Expense TTM 209.0m) |
| A: -0.51 (Total Current Assets 714.4m - Total Current Liabilities 4.19b) / Total Assets 6.76b |
| B: 0.02 (Retained Earnings 119.0m / Total Assets 6.76b) |
| C: -0.09 (EBIT TTM -641.2m / Avg Total Assets 6.76b) |
| D: 0.07 (Book Value of Equity 376.8m / Total Liabilities 5.58b) |
| Altman-Z'' = -3.88 = D |
| DSRI: 1.40 (Receivables 74.0m/71.4m, Revenue 361.8m/489.3m) |
| GMI: 2.07 (GM 94.43% / 45.63%) |
| AQI: 0.88 (AQ_t 0.44 / AQ_t-1 0.50) |
| SGI: 0.74 (Revenue 361.8m / 489.3m) |
| TATA: -0.04 (NI -372.2m - CFO -113.4m) / TA 6.76b) |
| Beneish M = -1.99 (Cap -4..+1) = B |
As of October 06, 2026, the stock is trading at USD 46.17 with a total of 95,274 shares traded. Over the past week, the price has changed by -2.57%, over one month by -2.10%, over three months by -0.43% and over the past year by +49.90%.
Current recommended Stop Loss: 40.80 (which is 11.6% or 1.9 ATR below the current price).
Telesat has no consensus analysts rating.
| Analysts Target Price | 19 | -58.8% |
Market Cap CAD = 3.53b (2.48b USD * 1.4264 USD.CAD)
P/S = 6.8488
P/B = 2.7595
Revenue TTM = 361.8m CAD
EBIT TTM = -641.2m CAD
EBITDA TTM = -505.0m CAD
Long Term Debt = 1.05b CAD (from longTermDebt, last quarter)
Short Term Debt = 2.74b CAD (from shortTermDebt, last quarter)
Debt = 3.84b CAD (from shortLongTermDebtTotal, last quarter) + Leases 40.1m
Net Debt = 3.45b CAD (calculated: Debt 3.84b - CCE 383.4m)
Enterprise Value = 6.99b CAD (3.53b + Debt 3.84b - CCE 383.4m)
Interest Coverage Ratio = -3.07 (Ebit TTM -641.2m / Interest Expense TTM 209.0m)
EV/FCF = -9.46x (Enterprise Value 6.99b / FCF TTM -738.4m)
FCF Yield = -10.57% (FCF TTM -738.4m / Enterprise Value 6.99b)
FCF Margin = -204.1% (FCF TTM -738.4m / Revenue TTM 361.8m)
Net Margin = -102.9% (Net Income TTM -372.2m / Revenue TTM 361.8m)
Gross Margin = 45.63% ((Revenue TTM 361.8m - Cost of Revenue TTM 196.7m) / Revenue TTM)
Gross Margin QoQ = 22.70% (prev 26.65%)
Tobins Q-Ratio = 1.03 (Enterprise Value 6.99b / Total Assets 6.76b)
Interest Expense / Debt = 5.45% (Interest Expense 209.0m / Debt 3.84b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -506.5m (EBIT -641.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.17 (Total Current Assets 714.4m / Total Current Liabilities 4.19b)
Debt / Equity = 10.18 (Debt 3.84b / totalStockholderEquity, last quarter 376.8m)
Debt / EBITDA = -6.84 (negative EBITDA) (Net Debt 3.45b / EBITDA -505.0m)
Debt / FCF = -4.68 (negative FCF - burning cash) (Net Debt 3.45b / FCF TTM -738.4m)
Total Stockholder Equity = 486.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.51% (Net Income -372.2m / Total Assets 6.76b)
RoE = -76.45% (Net Income TTM -372.2m / Total Stockholder Equity 486.8m)
RoCE = -41.68% (EBIT -641.2m / Capital Employed (Equity 486.8m + L.T.Debt 1.05b))
RoIC = -9.57% (negative operating profit) (NOPAT -506.5m / Invested Capital 5.30b)
WACC = 9.04% (E(3.53b)/V(7.37b) * Re(14.18%) + D(3.84b)/V(7.37b) * Rd(5.45%) * (1-Tc(0.21)))
Discount Rate = 14.18% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 11.67 | Cagr: 4.76%
[DCF] Fair Price = unknown (Cash Flow -738.4m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 3.64 | # QB: 1
Revenue Correlation: -99.48 | Revenue CAGR: -23.48% | SUE: -0.01 | # QB: 0
EPS current 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=-23.9%
EPS next Year (2027-12-31): EPS=0.00 | Chg30d=N/A | Revisions=N/A | GrowthEPS=+0.0% | GrowthRev=-13.5%