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Building a satellite constellation designed to connect directly to unmodified smartphones for broadband, partnering with mobile carriers.
Building a satellite constellation designed to connect directly to unmodified smartphones for broadband, partnering with mobile carriers.
Plans to be paid as a wholesale network supplier: partner carriers sell the satellite coverage to their own subscribers, and AST would share the revenue rather than sell phones or plans itself. Revenue so far is small, and the build-out is paid for by selling shares and borrowing.
Moat: narrow (IP / patents). Early patented direct-to-cell satellite technology and major carrier partnerships, though it is pre-commercial-scale and capital intensive.
Headquarters: Midland, Texas, United States · Founded: 2017 · Employees: 1,126
Size AST SpaceMobile (ASTS) is a United States Communication Services company (Specialty Telecommunications) with a market value of $12.6B, the 676th largest of 3,117 United States companies the cockpit tracks. Shares closed at $32.33 on 6 Nov 2026.
Performance Over six months the shares fell 56.9%, against -5.4% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 11 in its peer set.
Growth Revenue grew 2,256.9% over the last twelve months (peer median +0.6%); the operating margin is -410.3% (peer median 14.7%).
Valuation It trades at 119.6× enterprise value to sales against a peer median of 2.9× (most expensive of 11).
Capital Return on invested capital runs 26.9 points below its cost of capital (16.6% WACC).
Short interest Short interest is 22.0% of the free float (15 Oct 2026).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $115M | $70.9M | $4.42M | $0 | $13.8M |
| Revenue growth | — | +1,505% | — | -100% | — |
| Gross profit | -$280M | -$158M | -$58.9M | -$54.5M | -$51.8M |
| EBITDA | -$406M | -$237M | -$179M | -$168M | -$140M |
| Net income | -$619M | -$342M | -$300M | -$87.6M | -$31.6M |
| Free cash flow | -$1.64B | -$1.14B | -$300M | -$268M | -$214M |
| Capital expenditure | $1.59B | $1.12B | $174M | $119M | $57.3M |
| Total debt | $2.99B | $2.24B | $173M | $72.9M | $12.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| AST SpaceMobile ASTS | $12.6B | -57% | +2,257% | -410% | 119.6× | n/a |
| Space Exploration Technologies SPCX | $1.82T | n/a | +33% | -11% | 94.9× | n/a |
| Iridium Communications IRDM | $4.68B | +6% | +4% | 19% | 7.4× | 21.0% |
| Globalstar GSAT | $10.9B | +3% | +8% | 5% | 38.9× | n/a |
| ViaSat VSAT | $8.81B | -9% | +1% | 2% | 3.0× | 42.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASTS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.2% | +1.2% | lowest of 11 |
| 6-month return | -56.9% | -5.4% | lowest of 11 |
| Distance from 52-week high | -75.8% | -23.0% | lowest of 11 |
| Revenue growth (TTM) | +2,256.9% | +0.6% | highest of 11 |
| Operating margin | -410.3% | 14.7% | lowest of 11 |
| EV / Sales | 119.6× | 2.9× | most expensive of 11 |
| ROIC minus cost of capital | -26.9 pp | -2.1 pp | lowest of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AST SpaceMobile ASTS | United States | $12.6B | -57% | +2,257% | -410% | 119.6× | n/a | n/a |
| China Satellite Communications 601698.SS | China | $13.9B | -40% | -2% | 10% | 35.3× | 40.0% | -0.3% |
| Telia TELIA.ST | Sweden | $19.2B | 0% | 0% | 18% | 3.3× | -1.1% | -1.9% |
| China Tower 0788.HK | Hong Kong | $20.2B | -18% | +4% | 20% | 2.4× | -1.0% | +3.6% |
| Infrastrutture Wireless Italiane INW.MI | Italy | $7.39B | +1% | +1% | 53% | 11.2× | 8.2% | +10.2% |
| Telefonica TEF.MC | Spain | $21.4B | -16% | -11% | 5% | 1.9× | 11.7% | -4.0% |
| ASR Microelectronics 688220.SS | China | $6.56B | +6% | +28% | 1% | 8.7× | n/a | n/a |
| 1&1 1U1.DE | Germany | $5.79B | +7% | +8% | 3% | 1.2× | 12.5% | +1.8% |
| EchoStar ECHO | United States | $27.5B | -26% | -20% | 11% | 1.9× | n/a | n/a |
| Iridium Communications IRDM | United States | $4.68B | +6% | +4% | 19% | 7.4× | 21.0% | +8.4% |
| PLDT, Inc. Sponsored ADR PHI | United States | $3.88B | -11% | -2% | 22% | 2.6× | -2.9% | +0.8% |