FirmAtlas
Company handbook · ECHO · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
ECHO · CIK 1415404 · LATEST FILING: 10-Q JUN '26 · FILED AUG 3, 2026
EchoStar Corporation
$85.37
−1.48 (−1.70%)
Close, Oct 16, 2026 · 52-week $66–147
Last fiscal year
EchoStar Corporation reported revenue of $15.0B for the year ended Dec 31, 2025 (FY25), down 5.2% from FY24. Net loss was $14.5B, operating cash flow −$99M and free cash flow −$1.1B. Source: 10-K filed Mar 2, 2026.
Market cap
$24.6B
P/B
1.7
ROIC
−39.2%
Revenue 1Y
−5.2%/yr
EPS 1Y
n/m
Shares 1Y
+5%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOCharles W. Ergen
HQEnglewood, CO
AuditorKPMG LLP
Employees12,100
Year endsDecember
Revenue by segment · FY25
Pay Tv64%
Retail Wireless25%
Broadband And Satellite Services10%
Network Deployment5g2%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
6.4%
27.4%
81.7%
18.0%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$2.6B deployed
Capex
$2.5B
98.1%
Buybacks
$49M
1.9%
Operating cash flow over the period: $1.2B. Total debt changed by −$623M. R&D of $159M is already inside operating costs.
Capex was more than operating cash flow in FY25.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
Per-share figures are split-adjusted (3-for-1 split after FY20).
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
15,826
15,005−5.2%
14,654
YoY
−5.2%
Operating income
(304)
(17,723)n/m
(16,516)
Operating margin
−1.9%
−118.1%−116.2 pp
—
EBITDA
1,626
(16,138)−1092.4%
—
EBITDA margin
10.3%
−107.5%−117.8 pp
—
Net income
(120)
(14,497)n/m
(5,673)
YoY
n/m
Net margin
−0.8%
−96.6%−95.9 pp
—
EPS (diluted, $)
−0.44
−50.41n/m
−24.96
YoY
n/m
Balance sheet
Total assets
60,939
43,016−29.4%
39,425
Cash & short-term investments
5,836
3,283−43.7%
—
Accounts receivable
1,199
1,274+6.3%
—
Inventory
455
381−16.4%
—
Net PP&E
9,187
2,244−75.6%
—
Other assets
44,262
35,835−19.0%
—
Total liabilities
40,747
37,251−8.6%
25,270
Accounts payable
741
542−26.9%
—
Total debt
26,603
25,980−2.3%
17,432
Other liabilities
13,403
10,729−20.0%
—
Shareholders’ equity
20,191
5,766−71.4%
14,155
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,253
(99)−107.9%
(85)
Net income
(125)
(14,507)n/m
—
Depreciation & amortization
1,930
1,586−17.9%
—
Stock-based compensation
36
36−0.3%
—
Working capital & other
(589)
12,786n/m
—
Cash from investing
(3,048)
(1,405)n/m
—
Capex
(1,545)
(966)n/m
—
Investments bought
(1,254)
(3,069)n/m
—
Investments sold / matured
573
3,228+463.4%
—
Other investing
(823)
(598)n/m
—
Cash from financing
4,484
(910)−120.3%
—
Debt raised
7,886
150−98.1%
—
Buybacks
—
(49)
—
Other financing
(3,402)
(1,012)n/m
—
Net change in cash
2,682
(2,412)−189.9%
—
Free cash flow (OCF − capex)
(292)
(1,065)n/m
(725)
Where the cash went
Operating cash flow
1,253
(99)−107.9%
(85)
Reinvested in the business
1,545
966−37.5%
—
% of operating cash flow
123.3%
—
Capex
1,545
966−37.5%
640
R&D (memo, already in costs)
91
68−25.3%
—
Free cash flow
(292)
(1,065)n/m
(725)
YoY
n/m
Returned to shareholders
—
49
—
% of free cash flow
—
—
Buybacks
—
49
—
Change in total debt
—
(623)
—
Cash left over
—
(1,737)
—
Owner earnings
—
(14,077)
—
Owner earnings margin
—
−93.8%
—
Returns & ratios
ROIC (all capital)
−0.7%
−39.2%−38.5 pp
—
ROIC (operating)
−3.0%
−202.3%−199.2 pp
—
Net debt / EBITDA
12.77x
—
—
Debt / equity
1.32x
4.51x+3.19x
—
ROE
−0.6%
−251.4%−250.8 pp
—
ROA
−0.2%
−33.7%−33.5 pp
—
ROCE
−0.6%
−57.8%−57.3 pp
—
NOPAT
(304)
(13,608)n/m
—
Invested capital (operating)
10,100
3,356−66.8%
—
Invested capital (all)
40,959
28,463−30.5%
—
Reinvestment rate
—
49.6%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
3,614
3,796
3,667
3,576
vs year-ago quarter
Operating income
(16,642)
(780)
393
513
Net income
(12,781)
(1,207)
(147)
8,462
vs year-ago quarter
Net margin
−353.6%
−31.8%
−4.0%
236.6%
EPS (diluted, $)
−44.37
−4.20
−0.51
24.12
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
45,271
43,016
41,376
39,425
Cash & equivalents
2,710
3,283
1,486
1,443
Total debt
26,311
25,980
24,253
17,432
Shareholders’ equity
6,951
5,766
5,631
14,155
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
112
(425)
238
(10)
Capex
256
158
133
92
Free cash flow
(144)
(583)
105
(102)
vs year-ago quarter