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EchoStar Corporation provides pay-tv services in the United States, Mexico, Canada, South and Central America, Asia, Africa, Australia, Europe, India, and the Middle East. The Pay-TV segment offers a direct broadcast and fixed satellite, owned and leased satellites, leased fiber optic networks, in-home services, and call center operation services; digital broadcast operations, including satellite uplinking/downlinking, transmission and, other services to third-party pay-TV providers; multichannel, live-linear and on-demand streaming over-the-top Internet-based domestic, international, Latino, and Freestream video programming services; and receiver systems. Its Wireless segment provides wireless communication services and products; and a range of wireless devices. The Broadband and Satellite Services offers broadband satellite technologies, and internet products and services to consumer customers, including home and small to medium-sized businesses; managed services, equipment, hardware, satellite services, and communications solutions to government and enterprise customers, as well as to the unserved and underserved consumer, enterprise, aeronautical, and government markets; and integrated multi-transport solutions that enable airline and airline service providers to deliver in-flight network connectivity. This segment also designs, provides, and installs gateway and terminal equipment to customers for other satellite systems; and designs, develops, constructs, and provides telecommunication networks comprising satellite ground segment systems and terminals to mobile system operators and enterprise customers. Its Other segment consists of 5G network and 5G network deployment operations. The company sells its products and services under the Boost Mobile, DISH, Gen Mobile, Hughes, Hughesnet, and Sling brands. The company was formerly known as EchoStar Holding Corporation. EchoStar Corporation was founded in 1980 and is headquartered in Englewood, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $15.0B | $-15.8B | $-14.5B | $-1.7B | -251.4% | -5.2% | 12026.9% |
| 2024 | $15.8B | $2.3B | $-120M | $-1.2B | -0.6% | -7.0% | -93.0% |
| 2023 | $17.0B | $-243M | $-1.7B | $-1.8B | -8.6% | -8.7% | -168.7% |
| 2022 | $18.6B | $4.6B | $2.5B | $-7.6B | 11.5% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 18,634.25 | 17,015.60 | 15,825.52 | 15,004.99 |
| Operating Revenue | - | 18,634.25 | 17,015.60 | 15,825.52 | 15,004.99 |
| Cost Of Revenue | - | 12,210.48 | 11,945.33 | 11,772.58 | 11,130.32 |
| Gross Profit | - | 6,423.77 | 5,070.27 | 4,052.94 | 3,874.67 |
| Operating Expense | - | 4,190.22 | 4,587.08 | 4,357.01 | 3,965.80 |
| Research And Development | 31.78 | 32.81 | - | - | - |
| Selling General And Administration | - | 3,015.32 | 2,989.15 | 2,426.82 | 2,380.25 |
| Total Expenses | - | 16,400.70 | 16,532.41 | 16,129.59 | 15,096.12 |
| Operating Income | - | 2,233.55 | 483.19 | -304.07 | -91.14 |
| Total Operating Income As Reported | - | 2,232.84 | -277.91 | -304.07 | -17,723.15 |
| EBITDA | - | 4,589.41 | -243.40 | 2,336.24 | -15,786.05 |
| Normalized EBITDA | - | 3,497.13 | 2,258.52 | 1,674.89 | 1,733.52 |
| EBIT | - | 3,414.52 | -1,841.33 | 406.05 | -17,371.60 |
| Interest Income | - | 93.24 | 207.37 | 116.62 | 228.73 |
| Interest Expense | - | 79.22 | 90.36 | 481.62 | 1,521.71 |
| Net Interest Income | - | 14.02 | 117.02 | -365 | -1,292.98 |
| Other Non Operating Income Expenses | - | -1.46 | -21.87 | 5.60 | 2.68 |
| Other Income Expense | - | 1,087.73 | -2,531.89 | 593.50 | -17,509.20 |
| Interest Income Non Operating | - | 93.24 | 207.37 | 116.62 | 228.73 |
| Interest Expense Non Operating | - | 79.22 | 90.36 | 481.62 | 1,521.71 |
| Net Non Operating Interest Income Expense | - | 14.02 | 117.02 | -365 | -1,292.98 |
| Pretax Income | - | 3,335.30 | -1,931.68 | -75.57 | -18,893.31 |
| Tax Provision | - | 798.41 | -296.86 | 48.94 | -4,386.38 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 261.06 | -385.30 | 138.88 | -4,064.54 |
| Net Income Continuous Operations | - | 2,536.89 | -1,634.82 | -124.52 | -14,506.94 |
| Net Income From Continuing And Discontinued Operation | - | 2,477.72 | -1,702.06 | -119.55 | -14,497.18 |
| Net Income From Continuing Operation Net Minority Interest | - | 2,477.72 | -1,702.06 | -119.55 | -14,497.18 |
| Net Income | - | 2,477.72 | -1,702.06 | -119.55 | -14,497.18 |
| Net Income Common Stockholders | - | 2,477.72 | -1,702.06 | -119.55 | -14,497.18 |
| Net Income Including Noncontrolling Interests | - | 2,536.89 | -1,634.82 | -124.52 | -14,506.94 |
| Normalized Income | - | 1,646.49 | 414.57 | -642.01 | -1,042.14 |
| Diluted NI Availto Com Stockholders | - | 2,477.72 | -1,702.06 | -119.55 | -14,497.18 |
| Basic Average Shares | - | 270.10 | 270.84 | 274.08 | 287.59 |
| Diluted Average Shares | - | 307.73 | 270.84 | 274.08 | 287.59 |
| Reconciled Depreciation | - | 1,174.90 | 1,597.92 | 1,930.19 | 1,585.55 |
| Reconciled Cost Of Revenue | - | 12,210.48 | 11,945.33 | 11,772.58 | 11,130.32 |
| Total Unusual Items | - | 1,092.28 | -2,501.92 | 661.35 | -17,519.58 |
| Total Unusual Items Excluding Goodwill | - | 1,092.28 | -2,501.92 | 661.35 | -17,519.58 |
| Minority Interests | - | -59.17 | -67.23 | 4.97 | 9.76 |
| Net Income Discontinuous Operations | 0 | - | - | - | - |
| Special Income Charges | - | -1.63 | -727.88 | 739.08 | -17,520.52 |
| Other Special Charges | - | 0.92 | -73.02 | -688.66 | -11.46 |
| Write Off | - | 0 | 39.80 | 0 | 0 |
| Impairment Of Capital Assets | - | 0.71 | 761.10 | 0 | 17,632.01 |
| Gain On Sale Of Security | - | 1,093.92 | -1,774.05 | -77.73 | 0.94 |
| Depreciation Amortization Depletion Income Statement | - | 1,174.90 | 1,597.92 | 1,930.19 | 1,585.55 |
| Depreciation And Amortization In Income Statement | - | 1,174.90 | 1,597.92 | 1,930.19 | 1,585.55 |
| Gain On Sale Of Ppe | - | 0 | 0 | 50.42 | 100.03 |
| Earnings From Equity Interest | - | -3.09 | -8.10 | -73.45 | 7.70 |
| Average Dilution Earnings | - | 0 | 0 | 0 | 0 |
| Amortization | - | 376.50 | 487.68 | 510.98 | 410.36 |
| Amortization Of Intangibles Income Statement | - | 376.50 | 487.68 | 510.98 | 410.36 |
| Depreciation Income Statement | - | 798.40 | 1,110.24 | 1,419.21 | 1,175.19 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| EchoStar Corporationthis co. | SATS | $36.1B | -2.49 | 6.26 | -251.4% | -4.08 |
| Electronic Arts Inc. | EA | $51.0B | 57.50 | 7.54 | 13.1% | 31.86 |
| Take-Two Interactive Software, Inc. | TTWO | $40.2B | -134.89 | 11.46 | -8.5% | 33.54 |
| TKO Group Holdings, Inc. | TKO | $38.7B | 198.06 | 10.36 | 5.2% | 31.75 |
| Live Nation Entertainment, Inc. | LYV | $37.5B |
| - |
| - |
| - |
| - |
| - |
| - |
| 75.55 |
| 138.26 |
| 183.0% |
| 20.54 |
| Fox Corporation | FOXA | $27.5B | 12.17 | 2.30 | 18.9% | 7.70 |
| Fox Corporation | FOX | $24.7B | 10.90 | 2.06 | 18.9% | 6.96 |
| Omnicom Group Inc. | OMC | $21.6B | - | 1.79 | -0.5% | 31.05 |
| Charter Communications, Inc. | CHTR | $20.2B | 4.05 | 1.26 | 31.1% | 5.51 |
| Peer Median | - | 12.17 | 4.92 | 16.0% | 25.80 | |