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Satellite and wireless communications company owning Dish Network/Boost Mobile, Sling TV, Hughes satellite broadband and spectrum assets.
Satellite and wireless communications company owning Dish Network/Boost Mobile, Sling TV, Hughes satellite broadband and spectrum assets.
Earns subscription fees from pay-TV, mobile and satellite-broadband customers, but the older pay-TV and satellite lines are shrinking and wireless is the bet. Dish and EchoStar merged in 2023, and in 2025 it agreed to sell wireless spectrum licences to AT&T and to SpaceX, which would move Boost Mobile toward renting other carriers' networks.
Moat: narrow (scale, regulatory licence, installed base). Owns valuable wireless spectrum licenses and satellite infrastructure, though pay-TV is in structural decline and wireless is a distant carrier.
Headquarters: Englewood, Colorado, United States · Founded: 1980 · Employees: 12,100
Size EchoStar (ECHO) is a United States Communication Services company (Specialty Telecommunications) with a market value of $27.5B, the 393rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $94.62 on 6 Nov 2026.
Performance Over six months the shares fell 25.6%, against -16.2% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 8 in its peer set.
Growth Revenue fell 19.8% over the last twelve months (peer median +1.3%); the operating margin is 11.2% (peer median 12.0%).
Valuation It trades at 25.5× forward earnings against a peer median of 12.7× (most expensive of 6).
Capital Return on invested capital runs 0.6 points below its cost of capital (9.0% WACC).
Backlog Backlog (remaining performance obligations) was $1.30B at 30 Jun 2026, down 19% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Credit EchoStar has 3 bonds outstanding ($9.82B), rated B by the agencies and trading like BB- at a weighted spread of 220 bp.
Short interest Short interest is 15.4% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $12.2B | $15.0B | $15.8B | $17.0B | $18.6B |
| Revenue growth | — | -5% | -7% | -9% | — |
| Gross profit | $3.37B | $2.36B | $2.21B | $3.58B | $5.36B |
| EBITDA | $2.00B | $1.49B | $1.63B | $2.08B | $3.41B |
| Net income | $9.89B | -$14.5B | -$120M | -$1.70B | $2.48B |
| Free cash flow | -$533M | -$1.07B | -$292M | -$668M | $571M |
| Capital expenditure | $449M | $966M | $1.54B | $3.10B | $3.05B |
| Total debt | $9.80B | $31.0B | $30.4B | $26.3B | $26.0B |
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 | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| EchoStar ECHO | $27.5B | -26% | -20% | 11% | 25.5× | n/a |
| T-Mobile US TMUS | $172B | -16% | +9% | 22% | 12.0× | -3.0% |
| ViaSat VSAT | $8.81B | -9% | +1% | 2% | n/a | 42.8% |
| AST SpaceMobile ASTS | $12.6B | -57% | +2,257% | -410% | n/a | n/a |
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 | ECHO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.4% | -0.7% | 3rd highest of 8 |
| 6-month return | -25.6% | -16.2% | 3rd lowest of 8 |
| Distance from 52-week high | -35.7% | -23.1% | 3rd lowest of 8 |
| Revenue growth (TTM) | -19.8% | +1.3% | lowest of 8 |
| Operating margin | 11.2% | 12.0% | 4th lowest of 8 |
| Forward P/E | 25.5× | 12.7× | most expensive of 6 |
| ROIC minus cost of capital | -0.6 pp | -1.3 pp | 3rd highest of 8 |
| EV / EBITDA | 11.7× | 8.3× | 2nd most expensive of 6 |
| Net debt / EBITDA | -2.1× | 4.6× | least indebted of 6 |
| Bond spread | 220 bp | 98 bp | widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| EchoStar ECHO | United States | $27.5B | -26% | -20% | 11% | 25.5× | n/a | n/a |
| Telefonica TEF.MC | Spain | $21.4B | -16% | -11% | 5% | 10.8× | 11.7% | -4.0% |
| China Tower 0788.HK | Hong Kong | $20.2B | -18% | +4% | 20% | 9.7× | -1.0% | +3.6% |
| Telia TELIA.ST | Sweden | $19.2B | 0% | 0% | 18% | 21.1× | -1.1% | -1.9% |
| China Satellite Communications 601698.SS | China | $13.9B | -40% | -2% | 10% | n/a | 40.0% | -0.3% |
| AST SpaceMobile ASTS | United States | $12.6B | -57% | +2,257% | -410% | n/a | n/a | n/a |
| Ntt 9432.T | Japan | $86.6B | +5% | +8% | 12% | 12.7× | n/a | n/a |
| Infrastrutture Wireless Italiane INW.MI | Italy | $7.39B | +1% | +1% | 53% | 19.4× | 8.2% | +10.2% |
EchoStar has 3 bonds outstanding with $9.82B face value. The agencies rate it B; its bonds trade like BB-. Weighted yield 6.50%, a spread of 220 bp over government bonds.
EchoStar reported $1.30B of remaining performance obligations at 30 Jun 2026, down 19% from a year earlier and down 7% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.