EchoStar Corporation (SATS) Financial Statements

Financials
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EchoStar financial statements at a glance

EchoStar reported revenue of $15.00 billion for fiscal year 2025 (ended December 31, 2025), down 5.2% from fiscal year 2024. Net income was -$14.50 billion, a net margin of 96.6% loss, and diluted earnings per share were -$50.41.

At the end of fiscal year 2025 it had total assets of $43.02 billion, total liabilities of $37.20 billion and shareholders' equity of $5.77 billion, with cash and short-term investments of $2.98 billion and total debt of $30.12 billion.

Its operations brought in -$99.37 million of cash; capital spending was $1.64 billion, leaving free cash flow of -$1.74 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

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EchoStar Corporation

SATS
Communication Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
15.00B
Prev Year: 15.83B
YoY: -5.2%
Operating Revenue
15.00B
Prev Year: 15.83B
YoY: -5.2%
Tax Rate for Calcs
0.232
Prev Year: 0
Tax Effect of Unusual Items
-4.06B
Prev Year: 138.88M
YoY: -3026.6%
Weighted Average Shares (diluted)
287.59M
Prev Year: 274.08M
YoY: +4.9%
Weighted Average Shares (basic)
287.59M
Prev Year: 274.08M
YoY: +4.9%
Diluted EPS
-50.41
Prev Year: -0.44
YoY: -11356.8%
Basic EPS
-50.41
Prev Year: -0.44
YoY: -11356.8%
Other Income Expense
-17.51B
Prev Year: 593.50M
YoY: -3050.2%
Gain on Sale of Property, Plant and Equipment
100.03M
Prev Year: 50.42M
YoY: +98.4%
Impairment of Capital Assets
17.63B
Equity in Earnings of Affiliates
7.70M
Prev Year: -73.45M
YoY: +110.5%
Gain on Sale of Securities
941.0K
Prev Year: -77.73M
YoY: +101.2%
Depreciation Amortization Depletion
1.59B
Prev Year: 1.93B
YoY: -17.9%
Amortization
410.36M
Prev Year: 510.98M
YoY: -19.7%
Amortization of Intangibles
410.36M
Prev Year: 510.98M
YoY: -19.7%
Cost of Revenue
11.13B
Prev Year: 11.77B
YoY: -5.5%
Gross Profit
3.87B
Prev Year: 4.05B
YoY: -4.4%
Operating Expense
3.97B
Prev Year: 4.36B
YoY: -9.0%
Selling General and Administrative
2.38B
Prev Year: 2.43B
YoY: -1.9%
Depreciation and amortization
1.59B
Prev Year: 1.93B
YoY: -17.9%
Research and Development
-
Depreciation
1.18B
Prev Year: 1.42B
YoY: -17.2%
Operating Income
-91.14M
Prev Year: -304.07M
YoY: +70.0%
Net Non Operating Interest Income Expense
-1.29B
Prev Year: -365.00M
YoY: -254.2%
Non-operating Interest Income
228.73M
Prev Year: 116.63M
YoY: +96.1%
Non-operating Interest Expense
1.52B
Prev Year: 481.62M
YoY: +216.0%
Special Income Charges
-17.52B
Prev Year: 739.08M
YoY: -2470.6%
Other Special Charges
-11.46M
Prev Year: -688.66M
YoY: +98.3%
Other Non-operating Income (expense)
2.68M
Prev Year: 5.60M
YoY: -52.2%
Pre-tax Income
-18.89B
Prev Year: -75.57M
YoY: -24901.1%
Provision for Income Taxes
-4.39B
Prev Year: 48.95M
YoY: -9061.8%
Net Income Common Stockholders
-14.50B
Prev Year: -119.55M
YoY: -12026.9%
Net Income
-14.50B
Prev Year: -119.55M
YoY: -12026.9%
Net Income Including Non-Controlling Interests
-14.51B
Prev Year: -124.52M
YoY: -11550.8%
Net Income from Continuing Operations
-14.51B
Prev Year: -124.52M
YoY: -11550.8%
Noncontrolling Interests
9.76M
Prev Year: 4.97M
YoY: +96.4%
Diluted NI Available to Com Stockholders
-14.50B
Prev Year: -119.55M
YoY: -12026.9%
Total Operating Income as Reported
-17.72B
Prev Year: -304.07M
YoY: -5728.6%
Total Expenses
15.10B
Prev Year: 16.13B
YoY: -6.4%
Net Income from Continuing and Discontinued Operation
-14.50B
Prev Year: -119.55M
YoY: -12026.9%
Normalized Income
-1.04B
Prev Year: -642.01M
YoY: -62.3%
Interest Income
228.73M
Prev Year: 116.63M
YoY: +96.1%
Interest Expense
1.52B
Prev Year: 481.62M
YoY: +216.0%
Net Interest Income
-1.29B
Prev Year: -365.00M
YoY: -254.2%
EBIT
-17.37B
Prev Year: 406.05M
YoY: -4378.2%
EBITDA
-15.79B
Prev Year: 2.34B
YoY: -775.7%
Reconciled Cost of Revenue
11.13B
Prev Year: 11.77B
YoY: -5.5%
Reconciled Depreciation
1.59B
Prev Year: 1.93B
YoY: -17.9%
Net Income from Continuing Operation Net Minority Interest
-14.50B
Prev Year: -119.55M
YoY: -12026.9%
Total Unusual Items Excluding Goodwill
-17.52B
Prev Year: 661.35M
YoY: -2749.1%
Total Unusual Items
-17.52B
Prev Year: 661.35M
YoY: -2749.1%
Normalized EBITDA
1.73B
Prev Year: 1.67B
YoY: +3.5%
Values in USD

EchoStar key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$15.0B$15.8B$17.0B$18.6B$19.8B
Gross profit$3.9B$4.1B$5.1B$6.4B$7.3B
Operating income-$91.1M-$304.1M$483.2M$2.2B$3.4B
Net income-$14.5B-$119.5M-$1.7B$2.5B$2.5B
Diluted EPS-$50.41-$0.44-$6.28$8.05$7.94
Total assets$43.0B$60.9B$57.1B$58.7B$6.0B
Total liabilities$37.2B$40.7B$36.7B$36.7B$2.6B
Shareholders' equity$5.8B$20.2B$19.9B$21.5B$3.4B
Cash and short-term investments$3.0B$5.5B$2.4B$4.3B$1.5B
Total debt$30.1B$29.8B$25.9B$25.7B$1.6B
Operating cash flow-$99.4M$1.3B$2.4B$3.6B$4.7B
Capital spending$1.6B$2.5B$4.3B$11.2B$2.5B
Free cash flow-$1.7B-$1.2B-$1.8B-$7.6B$2.1B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was EchoStar's revenue in fiscal year 2025?

$15.00 billion, down 5.2% from $15.83 billion in fiscal year 2024.

How much profit does EchoStar make?

EchoStar reported net income of -$14.50 billion for fiscal year 2025 (96.6% of revenue); operating income was -$91.14 million.

How much cash and debt does EchoStar have?

At the end of fiscal year 2025: cash and short-term investments of $2.98 billion and total debt of $30.12 billion.

What is EchoStar's free cash flow?

-$1.74 billion in fiscal year 2025 (operating cash flow of -$99.37 million minus capital spending of $1.64 billion).

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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