Telesat (TSAT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Telesat

NasdaqGS•Technology•Communication Equipment

$40.30+2.95(0.08%)After hours

Market Cap

$612.66M

P/S

1.8x

P/B

1.8x

Telesat Corporation, a satellite operator, provides mission-critical communications solutions to support the requirements of satellite users in Canada, the United States, Asia, Australia, Latin America, the Caribbean, Europe, the Middle East, and Africa. It operates through Geostationary (GEO) and Low Earth Orbit (LEO) segments. The company offers broadcast services, such as direct-to-home television, video distribution and contribution, and occasional use services; enterprise services, including telecommunication carrier and integrator, government, consumer broadband, resource, maritime and aeronautical, and retail and satellite operator services; and consulting services related to space and earth segments, government studies, satellite control services, and research and development. It also provides satellites for full-time transmission of television programming; and government services. In addition, the company offers satellite capacity and end-to-end services for data and voice transmission to telecommunications carriers and integrators; and space segment services and terrestrial facilities for enterprise connectivity, internet backhaul, and cellular backhaul, as well as rural telephony services to telecommunications carriers and network services integrators. Further, it provides direct-to-consumer broadband services; communications services to offshore, oil and gas, and mining industries; and installation and maintenance of the end user terminal, as well as the provision of satellite capacity and other network elements. Additionally, the company operates satellite and terrestrial networks that support enterprise and retail activities. It offers its services through a direct sales force. Telesat Corporation was founded in 1969 and is headquartered in Ottawa, Canada.

How this company scores

WeakMetricSide Score: 29/100

Strongest: Balance Sheet & Red Flags (11/25); weakest: Growth (2/25).

Profitability8/25

Growth2/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality8/25

Strengths

Long cash runwayImproving leverage

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 4.3x5y range 0.8x – 23.2x

Currently above its 10-quarter median.

P/S · 2.0x5y range 0.1x – 2.0x

Currently above its 20-quarter median.

P/B · 2.1x5y range 0.2x – 2.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $612.66M

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $341.41M
Q. Revenue: $80.63M
TTM EBITDA: $-533.10M
TTM Op. Income: $-27.43M
Q. Op. Income: $-24.46M
TTM Net Income: $-383.93M
Q. Net Income: $-47.02M
EPS: N/A
Shares Out.: $15.20M

$341.41M in TTM revenue declined 24.5% YoY, reaching $80.63M last quarter. TTM EBITDA of $-533.10M and TTM operating income of $-27.43M show growth is flowing through to the bottom line. However, net income is negative at $383.93M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 7 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -91.8%
Op. Margin: -30.3%
Net Margin: -58.3%

Op. margin of -30.3% is down 36.3% YoY — costs are rising relative to revenue. Net margin at -58.3% Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.0x
P/B Ratio: 2.1x

P/S of 2.0x and P/B of 2.1x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $7.51B
Cash: $813.83M
Long-Term Debt: $1.31B
Book Value: $338.92M
D/E Ratio: 3.9
Debt/EBITDA: N/A

With $7.51B in assets and $1.31B in long-term debt, D/E is 3.9and book value is $338.92M — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is down 22% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

TTM Free Cash Flow: $-176.56M
FCF Margin: -51.7%
FCF / Net Income: 0.5

TTM FCF of $-176.56M. The FCF / Net Income ratio of 0.5x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 48% — an improving trend.