Echostar (SATS) AI Stock Analysis

• Market Cap: $31.52B
• Dividend Yield: N/A
• Average Volume (3M): 4.04M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: -44.95%
• EPS Growth: -430.47%
• Country: US
• Employees: 13,700
• Sector: Communication Services
• Sector Strength: 97
• Industry: Communication Equipment
• EPS (TTM): -4.27
• Shares Outstanding: 157,527,390
• 10 Day Avg. Volume: 4,812,031
• 30 Day Avg. Volume: 4,042,729
• PEG Ratio: >-0.01
• Price to Book (P/B): 5.42
• Price to Sales (P/S): 2.08
• P/FCF Ratio: -29.35
• Enterprise Value/Market Cap: 1.89
• Enterprise Value/Revenue: 3.97
• Enterprise Value/Gross Profit: 10.73
• Enterprise Value/Ebitda: -3.78
• 1Y Price Target: $125.67
• Price Target Upside: 15.18% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -1.69
• Revenue Forecast (FY): $14.39B

• Rating: 46 Neutral
• Price Target: $107.00 ▼(-1.93% Downside)
• Action: Reiterated Date: 03/20/26
• Date: Action: Reiterated 03/20/26

The score is held down primarily by sharply deteriorated financial performance (large losses, higher leverage, and negative free cash flow). Technical signals are mildly weak/neutral, while earnings-call and corporate-event updates provide some offset via potential cash inflows and deleveraging actions, though regulatory and litigation risks remain meaningful.

Positive Factors

Deleveraging via Restructuring Support Agreement

A formal RSA and prepayment of ~$1.6B materially reduce high-cost liabilities and interest burden, improving solvency and strategic optionality. This durable balance-sheet cleanup increases financial flexibility for M&A, capex, or accelerating debt paydown over the next several quarters.

Strategic SpaceX/Starlink partnership & D2D positioning

Relying on SpaceX for direct‑to‑device services avoids the capital intensity of building a proprietary DDD constellation, preserving cash and accelerating time‑to‑market. A structural partnership paired with potential equity upside creates a long‑term competitive option versus heavy in‑house capex.

Customer migration and ongoing cost reductions

Completing customer migration and consensual tower settlements materially lowers recurring connectivity and operational costs. With decommissioning expenses shifting lower and much of remaining costs non‑cash accretion, margins and OIBDA should structurally improve as decommissioning finishes in coming quarters.

Negative Factors

Severely elevated leverage

A ~9.5x debt‑to‑equity ratio after equity shrinkage indicates materially constrained financial flexibility and heightened solvency risk. Such leverage limits investment options, increases refinancing exposure, and leaves little cushion against further earnings or cash‑flow volatility over the next several quarters.

Weak cash generation and negative free cash flow

A lack of operating cash inflows and negative free cash flow increase reliance on asset monetizations or financing to meet obligations. Persistently weak cash generation strains capacity to fund decommissioning, taxes, and debt servicing without executing planned spectrum or restructuring actions.

Regulatory overhang and litigation

An FCC probe triggered force majeure, paused tower payments and spawned litigation; regulatory constraints and the Auction 113 quiet period create uncertainty around spectrum monetization timing. Protracted disputes can delay proceeds and impair the company’s deleveraging timetable and operational stability.

Echostar Business Overview & Revenue Model

Company Description

EchoStar Corporation, together with its subsidiaries, provides networking technologies and services worldwide. The company operates in two segments, Hughes and EchoStar Satellite Services (ESS). The Hughes segment offers broadband network technologies, managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers. The segment also designs, provides, and installs gateway and terminal equipment to customers for other satellite systems. In addition, it designs, develops, constructs, and provides telecommunication networks comprising satellite ground segment systems and terminals to mobile system operators and enterprise customers. Further, this segment designs, provides, and installs gateway and terminal equipment to customers for other satellite systems, as well as offers satellite ground segment systems and terminals for other satellite systems, including mobile system operators. The ESS segment provides satellite services using its owned and leased in-orbit satellites and related licenses to offer satellite services on a full-time and/or occasional-use basis to the U.S. government service providers, internet service providers, broadcast news organizations, content providers, and private enterprise customers. It serves customers in North America, South and Central America, Asia, Africa, Australia, Europe, India, and the Middle East. The company was incorporated in 2007 and is headquartered in Englewood, Colorado.

How the Company Makes Money

EchoStar primarily makes money by selling satellite communications capacity and delivering managed connectivity services built on that capacity. Key revenue streams typically include: (1) Satellite services/capacity: leasing transponder or bandwidth capacity on EchoStar satellites to customers such as broadcasters, media networks, enterprise network operators, and government users who need reliable wide-area coverage; revenue is earned via recurring service contracts tied to bandwidth, coverage, and term length. (2) Managed and network services: providing end-to-end connectivity solutions (e.g., satellite-based data links, network management, gateways/teleports, and service-level commitments) where EchoStar charges recurring fees for operating and managing customer networks rather than only leasing raw capacity. (3) Equipment and technology-related sales: selling or licensing satellite communications equipment and related technologies (e.g., terminals and ground systems) and earning associated installation, integration, and support revenue where applicable. (4) Professional services and support: implementation, engineering, maintenance, and other support services that are often attached to larger connectivity or capacity agreements. Factors that influence earnings include utilization of satellite capacity (filling available bandwidth with contracted customers), long-term customer contracts (which can stabilize recurring revenue), and relationships with media, enterprise, and government customers that drive renewals and multi-year service arrangements. Specific significant partnerships are null.

Echostar Financial Statement Overview

Summary

Fundamentals are highly pressured in the TTM period: a sharp revenue decline with deeply negative profitability, a material leverage spike (debt-to-equity ~9.5x as equity shrank), and negative free cash flow with no reported operating cash flow—collectively signaling elevated solvency and funding risk until earnings and cash generation stabilize.

Income Statement

Results deteriorated sharply in TTM (Trailing-Twelve-Months): revenue fell ~113% versus the prior period and profitability collapsed, with deeply negative operating and net margins. While gross margin held near ~37%, the scale of operating losses (EBIT and EBITDA far below revenue) indicates severe cost/impairment pressure and a major earnings reset versus 2024’s near-breakeven net results.

Balance Sheet

Leverage spiked materially in TTM (Trailing-Twelve-Months), with debt rising to ~55B while equity fell to ~5.8B, pushing debt-to-equity to ~9.5x (vs ~1.5x in 2024). Assets also declined, and return on equity is strongly negative, signaling weakened solvency and reduced financial flexibility; the key offset is that the company still reports positive equity, but the cushion is much thinner.

Cash Flow

Cash generation weakened meaningfully in TTM (Trailing-Twelve-Months): operating cash flow is reported at 0 and free cash flow is negative (~-$454M), worsening versus 2024’s already negative free cash flow. Prior years show the business can generate operating cash flow, but the current period’s lack of operating cash inflow and deeper cash burn increases funding risk given the higher leverage.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	15.00B	15.83B	17.02B	18.63B	19.82B
Gross Profit	5.56B	5.69B	5.07B	6.42B	7.32B
EBITDA	-15.79B	2.34B	-247.35M	4.59B	4.67B
Net Income	-23.28B	-119.55M	-1.70B	2.48B	2.49B
Balance Sheet
Total Assets	43.02B	60.94B	57.11B	58.75B	6.05B
Cash, Cash Equivalents and Short-Term Investments	2.06B	5.55B	2.44B	4.31B	1.55B
Total Debt	31.01B	29.81B	25.89B	25.72B	1.65B
Total Liabilities	37.20B	40.69B	36.72B	36.70B	2.63B
Stockholders Equity	5.77B	20.19B	19.88B	21.49B	3.35B
Cash Flow
Free Cash Flow	-1.07B	-292.18M	-668.27M	570.72M	160.25M
Operating Cash Flow	-99.37M	1.25B	2.43B	3.62B	632.23M
Investing Cash Flow	-1.40B	-3.05B	-2.81B	-9.06B	168.81M
Financing Cash Flow	-910.31M	4.48B	-277.12M	-274.45M	-1.16B

Echostar Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 109.11
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SATS, the sentiment is Negative. The current price of 109.11 is below the 20-day moving average (MA) of 110.61, below the 50-day MA of 115.13, and above the 200-day MA of 73.08, indicating a neutral trend. The MACD of -0.87 indicates Positive momentum. The RSI at 47.22 is Neutral, neither overbought nor oversold. The STOCH value of 40.98 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SATS.

Echostar Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GILT	67 Neutral	$1.30B	37.11	5.50%	―	29.67%	41.90%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
ASTS	54 Neutral	$35.94B	-54.37	-30.27%	―	641.24%	41.70%
VSAT	53 Neutral	$7.08B	44.93	-7.45%	―	1.23%	-31.80%
AMPG	50 Neutral	$65.22M	-106.24	-21.04%	―	93.47%	37.19%
CMTL	48 Neutral	$111.00M	―	-9999.00%	―	-1.89%	76.61%
SATS	46 Neutral	$31.52B	-1.34	-177.50%	―	-44.95%	-430.47%

Echostar Corporate Events

EchoStar Launches Major Debt Restructuring and Deleveraging Plan

On March 19, 2026, EchoStar Corporation, DISH Network Corporation, DISH DBS Corporation and certain subsidiaries entered into a Restructuring Support Agreement with an ad hoc group representing more than 82% of holders of DDBS debt securities. The contemplated transactions are designed to significantly deleverage the company by enabling the prepayment, without penalty, of certain DDBS notes, strengthening its capital structure and reducing interest burden for stakeholders.

As part of the broader balance-sheet actions, the company also fully repaid, without penalty, financing arrangements at DISH DBS Issuer L.L.C. On March 16, 2026, DBS SubscriberCo prepaid its outstanding 11.25% term loan and 13.75% preferred membership interests totaling approximately $1.6 billion, marking a substantial step in lowering leverage and improving financial flexibility.

The most recent analyst rating on (SATS) stock is a Buy with a $129.00 price target. To see the full list of analyst forecasts on Echostar stock, see the SATS Stock Forecast page.

Echostar Updates CEO Hamid Akhavan’s Compensation Agreement

On December 26, 2025, EchoStar Corporation entered into a new letter agreement with recently appointed Chief Executive Officer Hamid Akhavan, replacing his prior October 2, 2023 arrangement while keeping his base salary and bonus opportunity unchanged. The updated agreement, which runs through December 31, 2026, enhances Akhavan’s compensation package by accelerating vesting of the final tranche of his December 31, 2023 option award upon a qualifying termination and clarifies that any future equity awards will be granted at the discretion of the chairman and the executive compensation committee, underscoring the board’s tailored approach to CEO incentives and retention.

The most recent analyst rating on (SATS) stock is a Hold with a $111.00 price target. To see the full list of analyst forecasts on Echostar stock, see the SATS Stock Forecast page.