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TSAT · Nasdaq · United States · Communications Services, Nec
In shortTelesat Corp is loss-making, burns cash and carries heavy debt, with revenue shrinking (−26.8% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -72.7% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -37.2% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -25.0% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -6.7% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.25× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 6.58× | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -1.40× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -2.50 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -17.7% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 5 | 40/100 |
|---|---|---|
| Years of revenue decline (last 5) | 4 of 5 | 0/100 |
| Revenue growth volatility | 10.7% | 72/100 |
| Operating margin volatility | 60.3% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -18.0% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
2 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
CAD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 758 | 759 | 704 | 571 | 418 |
| Cost of revenue | 30 | 54 | 39 | 38 | – |
| Gross profit | 728 | 705 | 666 | 533 | – |
| Research & development | – | – | – | 12 | 12 |
| Operating income | 409 | 296 | 569 | (40) | (304) |
| Interest expense | 188 | 222 | 270 | 244 | 218 |
| Pre-tax income | 233 | (30) | 673 | (316) | (598) |
| Income tax | 71 | 51 | 90 | (13) | (67) |
| Net income | 93 | (24) | 157 | (88) | (155) |
| Diluted EPS | C$1.99 | −C$1.93 | C$11.29 | −C$6.29 | −C$10.61 |
| Diluted shares (millions) | 47 | 12 | 15 | 14 | 15 |
2 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 4 reported quarters (10-Q and 10-K filings), in CAD millions. The fourth quarter is derived from the annual report.
The last 4 quarters of Telesat Corp are included in the Investor plan. Try free for 7 days →
−2.50 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
3/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Mar 17, 2026