Telesat Corporation
NASDAQ•TSAT
CEO: Mr. Daniel S. Goldberg J.D.
Sector: Technology
Industry: Communication Equipment
Listing Date: 2005-07-27
Telesat Corporation, a satellite operator, offers mission-critical communications services to broadcast, enterprise, and consulting customers worldwide. The company's satellite-based services allow direct-to-home (DTH) service providers to deliver television programming, audio, and information channels directly to customers' homes; and allows broadcasters, cable networks, and DTH service providers to transmit television programming services. It offers value-added services, such as satellite capacity, digital encoding of video channels, and uplinking and downlinking services; and occasional use services. The company also offers telecommunication carrier and integrator services that provides satellite capacity and end-to-end services, including space segment services and terrestrial facilities for enterprise connectivity, and internet and cellular backhaul; and rural telephony to telecommunications carriers and network services integrators. In addition, it offers satellite capacity to maritime and aeronautical markets comprising commercial airplanes and vessels; services to the U.S. government through government service integrators, and satellite services to the Canadian government; and direct-to-consumer broadband services. Further, the company operates satellite and terrestrial networks; and communications services for the oil and gas and mining industries. Additionally, it provides satellite operator services; and consulting services related to space and earth segments, government studies, satellite control services, and research and development. The company offers its services primarily through a direct sales force. Telesat Corporation was founded in 1969 and is headquartered in Ottawa, Canada.
Contact Information
Market Cap
$597.84M
P/E (TTM)
-5.4
46.3
Dividend Yield
--
52W High
$43.82
52W Low
$14.77
52W Range
Rank59Top 87.6%
2.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
$67.41M+0.00%
4-Quarter Trend
EPS
-$6.06+0.00%
4-Quarter Trend
FCF
-$179.68M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
GEO Revenue Decline Total revenue $418.0M, down 26.8% from $571.0M; Broadcast revenue fell 28.5% due to contract changes.
Major Impairment Charge Recognized $365.2M impairment loss in 2025, primarily impacting GEO goodwill due to competition pressure.
Lightspeed Financing Advances Received $690.0M in Telesat Lightspeed Financing advances during 2025; $1.85B remains available for deployment costs.
New Arctic Defense Partnership Announced strategic partnership with GoC/MDA in December 2025 to deliver Arctic MILSATCOM capability for Canadian Armed Forces.
Risk Factors
Telesat Canada Debt Refinancing Liquidity pressure exists; $2.3B in Telesat Canada Debt matures in 2026/2027 requiring refinancing success.
GEO Business Competition Intensifying competition, especially from Starlink, expected to cause GEO revenue loss and profitability decline if competition fails.
Amortization Expense Spike Amortization increased 289.7% to $44.2M due to orbital slots reclassified from indefinite to finite life assets effective January 1, 2025.
Key Customer Revenue Concentration Top five GEO customers accounted for 64% of 2025 revenues; loss of major customer severely impacts financial outlook.
Outlook
Lightspeed Commercial Service Expect first Telesat Lightspeed satellites to launch late 2026, targeting commercial operation around the end of 2027.
Mil-Ka Spectrum Addition Addition of Mil-Ka spectrum to Lightspeed network in 2026 to meet anticipated global demand for mission-critical capacity.
Disciplined GEO Strategy Continue maximizing utilization of existing GEO fleet while maintaining disciplined replacement and expansion spending plans.
Focus on Enterprise Growth Growth strategy focuses on deploying Lightspeed to capture growing demand in enterprise, aviation, maritime, and government verticals.
Peer Comparison
Revenue (TTM)
$7.02B
$2.35B
$1.08B
Gross Margin (Latest Quarter)
80.0%
76.8%
75.3%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| ADTN | $973.56M | -21.1 | -30.6% | 20.3% |
| TSAT | $597.84M | -5.4 | -24.0% | 53.5% |
| CCSI | $519.62M | 6.2 | -522.6% | 87.4% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-6.1%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention
Deep Research
Next earnings:Mar 26, 2026
EPS:-$2.43
|Revenue:$67.65M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
|---|
No Data