TSAT Stock Analysis: Telesat | NASDAQ
Communication Equipment | NASDAQ, USA | Market Cap: 1.768m USD | 12M Return: 130.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 7.71M
Qual. Beats: 0
Rev. Trend: -98.9%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.6 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 August 05, 2026, the stock is trading at USD 54.75 with a total of 1,314,912 shares traded. Over the past week, the price has changed by +48.01%, over one month by +18.07%, over three months by +12.61% and over the past year by +130.24%.
Current recommended Stop Loss: 51.20 (which is 6.5% or 1.2 ATR below the current price).
Telesat has no consensus analysts rating.
| Analysts Target Price | 19 | -65.2% |
Market Cap CAD = 2.49b (1.77b USD * 1.4063 USD.CAD)
P/S = 4.5534
P/B = 1.4253
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 = 4.77b CAD (2.49b + Debt 2.66b - CCE 375.8m)
Interest Coverage Ratio = -2.34 (Ebit TTM -495.5m / Interest Expense TTM 211.9m)
EV/FCF = -8.38x (Enterprise Value 4.77b / FCF TTM -569.5m)
FCF Yield = -11.94% (FCF TTM -569.5m / Enterprise Value 4.77b)
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 = 0.99 (Enterprise Value 4.77b / 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 = 10.33% (E(2.49b)/V(5.15b) * Re(14.65%) + D(2.66b)/V(5.15b) * Rd(7.96%) * (1-Tc(0.21)))
Discount Rate = 14.65% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
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=-13.9%