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Financials · ECHO

EchoStar Corporation (ECHO) financials

For the twelve months ended Sep 30, 2026, EchoStar Corporation reported $12.17B of revenue and $9.89B of net income.

Revenue, TTM
$12.17B
Revenue growth, YoY
-19.8%
Net income, TTM
$9.89B
Net margin
81.3%
Free cash flow, TTM
-$532.75M
EPS, diluted, TTM
$27.31
Cash
$13.44B
Total debt
$9.64B
P/E
3.06
P/S
2.49
Market cap
$30.31B
Annual revenue$15.00B
FY2016FY2025
Annual net income-$14.50B
FY2016FY2025
Annual free cash flow-$1.07B
FY2016FY2025

ECHO revenue and earnings growth

ECHO revenueQ3 2026$1.13B

Quarter YoY
-68.8%
QoQ
-68.5%
FY YoY
-5.2%
5Y CAGR
+51.4%
10Y CAGR
+23.3%

ECHO revenue was $1.13B in fiscal Q3 2026 (ended Sep 30, 2026), down 68.8% from a year earlier and down 68.5% from the prior quarter. For the full fiscal 2025 it was $15.00B, down 5.2% from fiscal 2024. Compound annual growth was +51.4% over 5 years and +23.3% over 10 years. It rose in 4 of the last 10 fiscal years.

ECHO net incomeQ3 2026$2.78B

QoQ
-67.1%

ECHO net income was $2.78B in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$12.78B a year earlier and down 67.1% from the prior quarter. For the full fiscal 2025 it was -$14.50B, compared with -$119.55M in fiscal 2024.

ECHO EPSQ3 2026$7.97

QoQ
-67.0%

ECHO diluted EPS was $7.97 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$44.37 a year earlier and down 67.0% from the prior quarter. For the full fiscal 2025 it was -$50.41, compared with -$0.44 in fiscal 2024.

ECHO free cash flowQ3 2026$48.08M

ECHO free cash flow was $48.08M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$144.35M a year earlier. For the full fiscal 2025 it was -$1.07B, compared with -$292.18M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$15.00B$15.83B$17.02B$18.63B$19.82B$1.89B$1.89B$1.76B$1.53B$1.81B
Cost of revenue--------$212.17M$203.97M
Gross profit--------$1.31B$1.61B
Research and development$68.00M$91.00M$110.00M$110.00M$91.00M$29.45M$25.74M$27.57M$31.75M$31.17M
Selling, general and admin$2.38B$2.43B$2.99B$3.02B$2.69B$474.91M$509.14M$436.09M$370.50M$325.04M
Operating income-$17.72B-$304.07M-$277.91M$2.23B$3.42B$112.47M$73.08M$36.14M$30.56M$296.16M
Interest expense---$57.17M$95.51M$147.93M$251.02M$219.29M$184.39M$123.48M
Pre-tax income-$18.89B-$75.57M-$1.93B$3.34B$3.35B-$27.84M-$93.17M-$125.79M-$32.20M$216.63M
Income tax-$4.39B$48.95M-$296.86M$798.41M$828.44M$24.07M$20.49M$6.58M-$155.11M$80.25M
Net income-$14.50B-$119.55M-$1.70B$2.48B$2.49B-$40.15M-$62.92M-$40.48M$392.56M$179.93M
EPS, basic-$50.41-$0.44-$6.28$9.17$9.04-$0.41-$0.65-$0.42$4.13$1.94
EPS, diluted-$50.41-$0.44-$6.28$8.05$7.94-$0.41-$0.65-$0.42$4.07$1.92
Diluted shares287.6M274.1M270.8M307.7M313.1M97.9M96.7M96.3M96.7M94.4M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.88B$4.59B$1.91B$2.56B$8.28B$4.36B$1.52B$928.31M$2.43B$2.57B
Short-term investments$1.10B$1.24B$623.04M$1.81B$1.01B$1.64B$940.62M$2.28B$814.16M$522.52M
Receivables$1.27B$1.20B$1.12B$1.18B$182.06M$183.99M$196.63M$201.10M$196.84M$182.53M
Inventory$380.65M$455.20M$665.17M$625.98M$103.08M$97.99M$79.62M$75.38M$83.59M$62.62M
Current assets$5.13B$8.10B$4.89B$6.76B$1.93B$2.91B$2.84B$3.58B$3.72B$3.72B
Goodwill$0$0$0$757.51M$736.10M$511.60M$506.95M$504.17M$504.17M$504.17M
Total assets$43.02B$60.94B$57.11B$58.75B$6.05B$7.07B$7.15B$8.66B$8.75B$9.01B
Current liabilities$12.36B$5.83B$8.02B$6.44B$460.12M$1.43B$496.02M$1.35B$413.89M$531.44M
Short-term debt----$0$898.24M$0---
Long-term debt$18.66B$25.66B$19.72B$1.50B$1.50B$1.50B$2.39B$2.39B$3.59B$3.62B
Total debt$18.66B$25.66B$19.72B$1.50B$1.50B$2.39B$2.39B$2.39B$3.59B$3.62B
Total liabilities$37.20B$40.69B$36.72B$36.70B$2.63B$3.47B$3.41B$4.51B$4.57B$5.00B
Shareholders' equity$5.77B$20.25B$19.95B$21.59B$18.99B$17.43B$3.75B$4.16B$4.18B$4.01B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$99.37M$1.25B$2.43B$3.62B$4.66B$534.39M$656.32M$734.52M$726.89M$803.34M
Capital expenditures$965.73M$1.54B$3.10B$3.05B$1.62B$408.80M$418.58M$555.14M$583.21M$722.34M
Free cash flow-$1.07B-$292.18M-$668.27M$570.72M$3.04B$125.59M$237.74M$179.38M$143.68M$81.00M
Investing cash flow-$1.40B-$3.05B-$2.81B-$9.06B-$4.25B-$1.14B$821.96M-$2.10B-$867.93M-$632.20M
Financing cash flow-$910.31M$4.48B-$277.12M-$274.45M$3.52B-$15.62M-$885.31M-$136.56M$72.0K$1.48B
Share repurchases$48.51M--$89.30M$261.44M$43.46M$0$33.29M$0$0
Stock-based compensation$36.27M$36.38M$51.51M$82.99M$59.38M$8.89M$9.35M$9.99M$10.10M$15.23M
Depreciation and amortization$1.59B$1.93B$1.60B$1.17B$1.21B$238.00M$490.76M$457.12M$385.66M$432.90M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-5.2%-7.0%-8.7%-6.0%949.8%0.1%7.0%15.6%-15.8%-2.1%
Net income growth, YoY----0.3%----118.2%17.3%
EPS growth, YoY---1.4%----112.0%9.7%
Gross margin--------86.1%88.7%
Operating margin-118.1%-1.9%-1.6%12.0%17.3%6.0%3.9%2.1%2.0%16.4%
Net margin-96.6%-0.8%-10.0%13.3%12.5%-2.1%-3.3%-2.3%25.7%9.9%
Free cash flow margin-7.1%-1.8%-3.9%3.1%15.3%6.7%12.6%10.2%9.4%4.5%
Return on equity-251.4%-0.6%-8.5%11.5%13.1%-0.2%-1.7%-1.0%9.4%4.5%
Return on assets-33.7%-0.2%-3.0%4.2%41.1%-0.6%-0.9%-0.5%4.5%2.0%
Current ratio0.421.390.611.054.192.045.722.668.987.01
Debt to equity3.241.270.990.070.080.140.640.570.860.90

Source: XBRL data EchoStar Corporation files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ECHO peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ECHO$12.17B-19.8%$9.89B81.3%$30.31B
VZ$139.39B+1.4%$16.42B11.8%$191.94B
TMUS$93.82B+9.3%$11.30B12.0%$179.10B
T$128.85B+3.5%$13.13B10.2%$147.76B
GLW$17.72B+18.8%$2.24B12.6%$96.58B
AMXMXN 943.64B+8.6%MXN 82.82B8.8%$77.52B
LITE$3.74B+103.2%-$6.58B-175.8%$53.11B
CIEN$6.02B+32.6%$654.41M10.9%$38.59B
CHTNT$236.11B+2.7%NT$38.70B16.4%$37.86B

ECHO FAQ

8 questions
  • What is ECHO revenue?
    EchoStar Corporation (ECHO) reported $12.17B of revenue for the twelve months ended Sep 30, 2026. That is down 19.8% from the year before. Revenue for fiscal 2025 was $15.00B.
  • Is ECHO profitable?
    Yes. EchoStar Corporation earned $9.89B in net income for the twelve months ended Sep 30, 2026, a net margin of 81.3%.
  • How much cash and debt does ECHO have?
    EchoStar Corporation reported $13.44B in cash and cash equivalents and $9.64B of debt on its most recent balance sheet in SEC filings.
  • How fast is ECHO revenue growing?
    EchoStar Corporation's revenue changed -5.2% in fiscal 2025, to $15.00B. Its compound annual growth rate was +51.4% over 5 years and +23.3% over 10 years.
  • What is ECHO free cash flow?
    EchoStar Corporation generated -$532.75M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$83.95M less capital expenditures.
  • What is ECHO earnings per share?
    Diluted earnings per share were $27.31 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ECHO last report financial results?
    The latest statements here come from EchoStar Corporation's 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.
  • Where does this ECHO financial data come from?
    Quantisnow builds these statements from the structured XBRL data EchoStar Corporation files with the SEC. It is provided for information only and is not investment advice.