EchoStar (SATS)
Market Price (6/19/2026): $108.22 | Market Cap: $31.3 BilSector: Communication Services | Industry: Wireless Telecommunication Services
EchoStar (SATS)
Market Price (6/19/2026): $108.22Market Cap: $31.3 BilSector: Communication ServicesIndustry: Wireless Telecommunication Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Wireless Services, Telecom Infrastructure, Show more. | Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85% Stock price has recently run up significantly12M Rtn12 month market price return is 339% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12%, Rev Chg QQuarterly Revenue Change % is -5.2% Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.9% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50% Key risksSATS key risks include [1] potential FCC penalties or spectrum revocation over its 5G buildout compliance and [2] a precarious financial state burdened by a high debt load, Show more. |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Wireless Services, Telecom Infrastructure, Show more. |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 14% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 85% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 339% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.6%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -12%, Rev Chg QQuarterly Revenue Change % is -5.2% |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -9.9% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -50% |
| Key risksSATS key risks include [1] potential FCC penalties or spectrum revocation over its 5G buildout compliance and [2] a precarious financial state burdened by a high debt load, Show more. |
Qualitative Assessment
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EchoStar (SATS) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Missed Interest Payment and Heightened Liquidity Concerns.
EchoStar's DISH DBS subsidiary elected not to make approximately $183 million in cash interest payments due on June 1, 2026, on certain notes. This action constitutes a default, subject to a 30-day grace period, and significantly intensified credit-risk and liquidity concerns among investors. The company stated this decision was made to conserve liquidity while awaiting proceeds from pending AT&T-related transactions.
2. SpaceX IPO Triggered "Proxy Premium" Unwinding.
The highly anticipated public debut of SpaceX on June 12, 2026, led to a sharp decline in EchoStar's stock, which fell 10.97% on that day. Investors previously viewing EchoStar as a proxy for exposure to privately held SpaceX, due to EchoStar's estimated 52 million shares in SpaceX (valued at approximately $11.1 billion as of November 2025), rotated capital directly into the newly available SpaceX shares, unwinding this "proxy premium."
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EchoStar (SATS) stock has lost about 5% since 2/28/2026 because of the following key factors:
1. Missed Interest Payment and Heightened Liquidity Concerns.
EchoStar's DISH DBS subsidiary elected not to make approximately $183 million in cash interest payments due on June 1, 2026, on certain notes. This action constitutes a default, subject to a 30-day grace period, and significantly intensified credit-risk and liquidity concerns among investors. The company stated this decision was made to conserve liquidity while awaiting proceeds from pending AT&T-related transactions.
2. SpaceX IPO Triggered "Proxy Premium" Unwinding.
The highly anticipated public debut of SpaceX on June 12, 2026, led to a sharp decline in EchoStar's stock, which fell 10.97% on that day. Investors previously viewing EchoStar as a proxy for exposure to privately held SpaceX, due to EchoStar's estimated 52 million shares in SpaceX (valued at approximately $11.1 billion as of November 2025), rotated capital directly into the newly available SpaceX shares, unwinding this "proxy premium."
3. Underperforming Core Businesses and Subscriber Attrition.
Despite beating EPS expectations in its fiscal Q1 2026 (ended March 31, 2026), EchoStar reported a 5.2% year-over-year decrease in total revenue to $3.67 billion. The company continued to experience significant subscriber losses, with its Pay-TV segment decreasing by approximately 366,000 net subscribers and its Broadband segment losing approximately 58,000 subscribers in fiscal Q1 2026. Retail wireless subscriber growth of 16,000 was substantially lower than the 150,000 increase in the year-ago quarter.
4. Significant Overvaluation and Notable Insider Selling.
EchoStar's stock has shown signs of being significantly overvalued, with its price of around $111-$120 in mid-June 2026 substantially exceeding intrinsic value estimates, such as GuruFocus' GF Value of $19.78, indicating a 464.7% overvaluation. This is further highlighted by a forward P/E ratio of 367.2x, contrasting sharply with its 5-year median P/E of 0.7x. Concurrently, company insiders, including CEO Hamid Akhavan ($13.99 million in sales) and President of Technology & COO John Swieringa ($5.69 million in sales), sold approximately $19.7 million worth of shares over the last three months, with no reported insider buying, which can be interpreted as a bearish signal by the market.
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Stock Movement Drivers
Fundamental Drivers
The -5.5% change in SATS stock from 2/28/2026 to 6/18/2026 was primarily driven by a -2.8% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 115.53 | 109.17 | -5.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,176 | 14,803 | -2.5% |
| P/S Multiple | 2.2 | 2.1 | -2.8% |
| Shares Outstanding (Mil) | 288 | 289 | -0.3% |
| Cumulative Contribution | -5.5% |
Market Drivers
2/28/2026 to 6/18/2026| Return | Correlation | |
|---|---|---|
| SATS | -5.5% | |
| Market (SPY) | 9.2% | 40.3% |
| Sector (XLC) | -7.0% | 47.9% |
Fundamental Drivers
The 49.0% change in SATS stock from 11/30/2025 to 6/18/2026 was primarily driven by a 53.2% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 73.29 | 109.17 | 49.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,176 | 14,803 | -2.5% |
| P/S Multiple | 1.4 | 2.1 | 53.2% |
| Shares Outstanding (Mil) | 288 | 289 | -0.3% |
| Cumulative Contribution | 49.0% |
Market Drivers
11/30/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| SATS | 49.0% | |
| Market (SPY) | 9.9% | 32.2% |
| Sector (XLC) | -4.5% | 29.3% |
Fundamental Drivers
The 515.7% change in SATS stock from 5/31/2025 to 6/18/2026 was primarily driven by a 557.9% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.73 | 109.17 | 515.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 15,680 | 14,803 | -5.6% |
| P/S Multiple | 0.3 | 2.1 | 557.9% |
| Shares Outstanding (Mil) | 287 | 289 | -0.9% |
| Cumulative Contribution | 515.7% |
Market Drivers
5/31/2025 to 6/18/2026| Return | Correlation | |
|---|---|---|
| SATS | 515.7% | |
| Market (SPY) | 28.1% | 20.2% |
| Sector (XLC) | 9.3% | 17.5% |
Fundamental Drivers
The 592.3% change in SATS stock from 5/31/2023 to 6/18/2026 was primarily driven by a 1028.1% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6182026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.77 | 109.17 | 592.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 22,520 | 14,803 | -34.3% |
| P/S Multiple | 0.2 | 2.1 | 1028.1% |
| Shares Outstanding (Mil) | 270 | 289 | -6.6% |
| Cumulative Contribution | 592.3% |
Market Drivers
5/31/2023 to 6/18/2026| Return | Correlation | |
|---|---|---|
| SATS | 592.3% | |
| Market (SPY) | 85.7% | 24.7% |
| Sector (XLC) | 81.7% | 21.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SATS Return | 24% | -37% | -1% | 38% | 375% | 3% | 427% |
| Peers Return | -7% | -14% | 12% | 15% | -8% | -11% | -16% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| SATS Win Rate | 50% | 33% | 42% | 58% | 58% | 83% | |
| Peers Win Rate | 48% | 43% | 60% | 62% | 52% | 33% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SATS Max Drawdown | -23% | -42% | -59% | -31% | -49% | -21% | |
| Peers Max Drawdown | -24% | -34% | -22% | -18% | -28% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: T, VZ, TMUS, CMCSA, CHTR. See SATS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | SATS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -46.7% | -18.8% |
| % Gain to Breakeven | 87.7% | 23.1% |
| Time to Breakeven | 28 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -13.1% | -7.8% |
| % Gain to Breakeven | 15.1% | 8.5% |
| Time to Breakeven | 4 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -49.5% | -9.5% |
| % Gain to Breakeven | 97.9% | 10.5% |
| Time to Breakeven | 197 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -15.3% | -6.7% |
| % Gain to Breakeven | 18.0% | 7.1% |
| Time to Breakeven | 58 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -42.2% | -24.5% |
| % Gain to Breakeven | 73.0% | 32.4% |
| Time to Breakeven | 735 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.6% | -33.7% |
| % Gain to Breakeven | 48.3% | 50.9% |
| Time to Breakeven | 1987 days | 140 days |
In The Past
EchoStar's stock fell -46.7% during the 2025 US Tariff Shock. Such a loss loss requires a 87.7% gain to breakeven.
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Asset Allocation
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| Event | SATS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -46.7% | -18.8% |
| % Gain to Breakeven | 87.7% | 23.1% |
| Time to Breakeven | 28 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -49.5% | -9.5% |
| % Gain to Breakeven | 97.9% | 10.5% |
| Time to Breakeven | 197 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -42.2% | -24.5% |
| % Gain to Breakeven | 73.0% | 32.4% |
| Time to Breakeven | 735 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.6% | -33.7% |
| % Gain to Breakeven | 48.3% | 50.9% |
| Time to Breakeven | 1987 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -26.5% | -19.2% |
| % Gain to Breakeven | 36.0% | 23.8% |
| Time to Breakeven | 198 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -28.6% | -12.2% |
| % Gain to Breakeven | 40.0% | 13.9% |
| Time to Breakeven | 238 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -33.8% | -6.8% |
| % Gain to Breakeven | 51.0% | 7.3% |
| Time to Breakeven | 286 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -42.3% | -17.9% |
| % Gain to Breakeven | 73.2% | 21.8% |
| Time to Breakeven | 483 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -60.0% | -53.4% |
| % Gain to Breakeven | 149.9% | 114.4% |
| Time to Breakeven | 819 days | 1085 days |
In The Past
EchoStar's stock fell -46.7% during the 2025 US Tariff Shock. Such a loss loss requires a 87.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About EchoStar (SATS)
EchoStar Corporation (SATS) is a global provider of networking technologies and services, primarily leveraging satellite communications. The company's operations are divided into two main segments: Hughes and EchoStar Satellite Services (ESS), both contributing to its mission of connecting people and businesses worldwide through advanced communication solutions.
The Hughes segment specializes in a comprehensive range of broadband network technologies and managed services. This includes providing equipment, hardware, and satellite services, along with designing and installing gateway and terminal equipment for various satellite systems. Hughes also develops and builds telecommunication networks, including satellite ground segment systems and terminals. Its primary customers are government agencies, large enterprise clients, and mobile system operators who require robust and reliable communication infrastructure.
The EchoStar Satellite Services (ESS) segment utilizes its fleet of owned and leased in-orbit satellites and associated licenses to offer satellite services. These services are provided on both full-time and occasional-use bases. ESS serves a diverse client base, including U.S. government service providers, internet service providers (ISPs), broadcast news organizations, content providers, and private enterprises across North America, South and Central America, Asia, Africa, Australia, Europe, India, and the Middle East.
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Here are 1-3 brief analogies to describe EchoStar (SATS):
- Think of them as a global AT&T or Verizon, but with their communication networks built around satellites in space.
- It's like Cisco, but specializing exclusively in designing, building, and managing satellite communication networks and equipment for large organizations and governments.
- Imagine AWS or Microsoft Azure, but providing global infrastructure-as-a-service for satellite connectivity and managed communication networks.
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- Broadband Network Technologies: Provides advanced technologies for establishing and operating broadband networks.
- Managed Services: Offers comprehensive management for various communication and network systems for customers.
- Satellite Equipment & Hardware: Designs, provides, and installs specialized gateway and terminal equipment for satellite systems.
- Telecommunication Networks (Ground Segment): Designs, develops, constructs, and provides the terrestrial infrastructure for satellite telecommunication networks.
- Satellite Services: Delivers satellite capacity and related services utilizing owned and leased in-orbit satellites.
- Communication Solutions: Provides integrated solutions to address diverse communication requirements for government and enterprise clients.
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EchoStar (SATS) primarily sells its networking technologies and services to other companies and government entities, not primarily to individuals. The provided background description does not list specific customer company names. Instead, it details categories of customers that EchoStar serves:
- Government and Government Service Providers: This includes government customers and U.S. government service providers that utilize EchoStar's broadband network technologies, managed services, satellite services, and communication solutions.
- Enterprise Customers: This broad category encompasses private enterprise customers, broadcast news organizations, and content providers who leverage EchoStar's network technologies, managed services, equipment, hardware, and satellite services.
- Telecommunications and Internet Service Providers/Operators: This includes mobile system operators and internet service providers (ISPs) that acquire satellite ground segment systems, terminals, and satellite services from EchoStar.
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EchoStar's major suppliers include:
- MDA Corporation (TSX: MDA)
- SpaceX
- Arianespace
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Charlie Ergen, Co-founder, Chairman, President and Chief Executive Officer
Charlie Ergen co-founded EchoStar Corporation in 1980 and currently serves as Chairman of the Board of Directors, President, and Chief Executive Officer. In this role, he directs EchoStar's long-term business development and strategy and oversees the day-to-day operations of EchoStar's Pay-TV and Wireless business units, as well as its shared services operations. He is a prominent leader in the satellite and telecommunications industries and returned as CEO in November 2025.
Paul Orban, Executive Vice President and Chief Financial Officer
Paul Orban was named Chief Financial Officer of EchoStar Corporation, effective December 31, 2023. Prior to joining EchoStar, he served as the CFO of Aviat Networks. Mr. Orban has held various leadership positions with increasing responsibility, including Executive Vice President and Chief Financial Officer at DISH, Director of Accounting, Vice President of Accounting, and Senior Vice President and Chief Accounting Officer. He played key roles in significant debt offerings, acquisitions, and divestitures, including the "spinoff" of EchoStar Corporation in 2008. He also served as Senior Vice President and Corporate Controller for both DISH Network Corporation and EchoStar Corporation until 2012.
Hamid Akhavan, Chief Executive Officer, EchoStar Capital
Hamid Akhavan serves as the Chief Executive Officer of EchoStar Capital, where he directs the company's capital management and strategic investment activities. He previously served as CEO and President of EchoStar Corporation from March 2022 to November 2025. Prior to joining EchoStar, Mr. Akhavan was a Partner at Twin Point Capital, an investment firm, from April 2018 to March 2022, and a Founding Partner of Long Arc Capital LLC from March 2016 to April 2018, both indicating involvement with private equity. He also held executive leadership positions including CEO of Unify, Inc. (formerly Siemens Enterprise Communications), Chief Operating Officer at Deutsche Telekom, and CEO of T-Mobile International, where he also served as a member of the Board of Management of Deutsche Telekom.
John Swieringa, President, Technology, and Chief Operating Officer
John Swieringa serves as President, Technology, and Chief Operating Officer for EchoStar Corporation.
Dean Manson, Chief Legal Officer and Secretary
Dean Manson serves as the Chief Legal Officer and Secretary of EchoStar Corporation.
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The emergence of Low Earth Orbit (LEO) satellite constellations, such as Starlink, OneWeb, and Amazon Kuiper, poses a clear emerging threat to EchoStar. These LEO systems offer significantly lower latency and potentially higher speeds compared to the traditional Geostationary Earth Orbit (GEO) satellites used by EchoStar for its broadband and satellite services. This technological advancement directly challenges EchoStar's core offerings in providing internet service, managed network solutions to enterprises and governments, and satellite capacity, by offering a superior user experience for latency-sensitive applications.
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- Fixed Satellite Broadband Services: The global fixed satellite broadband market is projected to grow from an estimated $10 billion in 2025 to $20 billion by 2030. In the U.S., the satellite broadband market was valued at USD 4.10 billion in 2024 and is expected to reach USD 10.76 billion by 2032.
- Enterprise Satellite Communication (SATCOM) Services: The global enterprise SATCOM services market reached USD 7.8 billion in 2024 and is forecasted to expand to USD 17.2 billion by 2033. North America accounted for approximately 35% of these global revenues in 2024, equating to about USD 2.7 billion.
- Government & Defense Satellite Communication: The global government & defense satellite communication market was valued at US$ 13,258.3 million (approximately USD 13.26 billion) in 2025 and is estimated to grow to US$ 33,673.8 million by 2033. North America was the largest revenue-generating market for this segment in 2025.
- Managed Network Services (Enterprise): The global managed network services market was estimated at USD 66.24 billion in 2024 and is anticipated to reach USD 115.83 billion by 2034. North America held approximately 33% of the global market share, generating around USD 21.91 billion in revenue in 2024.
- Satellite Ground Station Market (including equipment and hardware): The global satellite ground station market was valued at USD 53.8 billion in 2024 and is projected to reach USD 176.6 billion by 2034. The U.S. satellite ground station market size was USD 18.50 billion in 2025.
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- Strategic Partnership with SpaceX/Starlink for Direct-to-Device (D2D) Services: EchoStar has pivoted its direct-to-device strategy by forming a strategic partnership with SpaceX/Starlink. This collaboration is anticipated to position EchoStar advantageously in the emerging direct-to-device market, opening new avenues for revenue generation.
- Growth and Profitability of the Wireless Segment (Boost Mobile): The company is transitioning its wireless segment to an MVNO-focused strategy with a strong emphasis on profitable customer acquisition. While this segment has faced subscriber fluctuations, the strategic realignment and efforts to achieve breakeven are expected to contribute to future revenue growth.
- Leveraging Spectrum Assets for 5G Network Deployment and Service Contracts: EchoStar is focused on utilizing its extensive spectrum portfolio for 5G network deployment and securing new service contracts in the broadband and 5G sectors. This strategic direction aims to build sustainable service revenues with recurring margins.
- Strategic Investments from Spectrum Sale Proceeds: EchoStar anticipates a significant influx of capital from pending spectrum sales in the first half of 2026. These proceeds are slated for strategic investments, including debt reduction and other opportunities designed to maximize shareholder returns and fund initiatives that will ultimately drive future revenue growth.
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Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases
- Information regarding company-initiated share repurchases over the last 3-5 years for EchoStar (SATS) was not readily available in the provided search results.
Share Issuance
- In November 2024, EchoStar completed a private placement resulting in the issuance of Class A common stock, which provided approximately $400 million of incremental cash to its balance sheet.
Inbound Investments
- EchoStar secured a $5.1 billion capital investment from current stakeholders through the purchase of EchoStar secured notes maturing in 2029, intended to fund the development and expansion of the Boost Mobile 5G network.
- In October 2024, an additional $2.5 billion investment from TPG Angelo Gordon and co-investors was secured to provide interim liquidity and enable DISH Network (a subsidiary) to refinance its November 2024 debt maturity.
Outbound Investments
- As part of spectrum asset sales to SpaceX, EchoStar received over $11 billion in SpaceX equity. This represents a significant strategic holding in another company.
Capital Expenditures
- Historically, EchoStar incurred substantial capital expenditures, with approximately $2 billion annually primarily directed towards the buildout of its 5G network.
- In the third quarter of 2025, capital expenditures amounted to $965.7 million.
- Following significant spectrum divestitures and a strategic pivot, expected maintenance capital expenditures are projected to decrease to approximately $400 million annually. The primary focus has shifted from building a standalone nationwide 5G Open RAN network to a hybrid model utilizing existing infrastructure and strategic partnerships.
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 77.27 |
| Mkt Cap | 118.4 |
| Rev LTM | 107,904 |
| Op Inc LTM | 18,700 |
| FCF LTM | 16,696 |
| FCF 3Y Avg | 13,599 |
| CFO LTM | 30,282 |
| CFO 3Y Avg | 26,909 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.0% |
| Rev Chg 3Y Avg | 1.0% |
| Rev Chg Q | 3.2% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Inc Chg LTM | -0.6% |
| Op Inc Chg 3Y Avg | 0.7% |
| Op Mgn LTM | 20.0% |
| Op Mgn 3Y Avg | 20.3% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 28.2% |
| CFO/Rev 3Y Avg | 27.6% |
| FCF/Rev LTM | 14.2% |
| FCF/Rev 3Y Avg | 12.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Pay-TV | 9,700 | 10,688 | 11,571 | 12,505 | |
| Wireless | 3,796 | 3,594 | 3,692 | 4,135 | |
| Broadband and Satellite Services | 1,456 | 1,576 | 1,756 | 1,998 | |
| Other | 295 | 157 | |||
| Eliminations | -242 | -189 | -95 | -70 | |
| 5G Network Deployment | 92 | 66 | |||
| Corporate and Other | 12 | ||||
| EchoStar Satellite Services (ESS) | 18 | ||||
| Hughes | 1,956 | ||||
| Total | 15,005 | 15,826 | 17,016 | 18,634 | 1,986 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Pay-TV | 2,425 | 2,648 | 2,700 | 2,934 |
| Eliminations | 2 | -2 | 5 | 6 |
| Wireless | -495 | -478 | -643 | -77 |
| Broadband and Satellite Services | -1,607 | -118 | -459 | 182 |
| Other | -18,048 | -2,354 | ||
| 5G Network Deployment | -1,881 | -811 | ||
| Total | -17,723 | -304 | -278 | 2,233 |
| $ Mil | 2023 | 2022 |
|---|---|---|
| Pay-TV | 3,510 | 2,859 |
| Eliminations | 6 | 5 |
| Broadband and Satellite Services | -513 | 159 |
| Wireless | -2,300 | 666 |
| 5G Network Deployment | -2,338 | -1,152 |
| Total | -1,635 | 2,537 |
| $ Mil | 2023 | 2022 |
|---|---|---|
| Pay-TV | 49,438 | 46,295 |
| 5G Network Deployment | 46,793 | 43,462 |
| Broadband and Satellite Services | 5,812 | 6,254 |
| Wireless | 778 | 2,799 |
| Eliminations | -45,712 | -40,062 |
| Total | 57,109 | 58,748 |
Price Behavior
| Market Price | $109.17 | |
| Market Cap ($ Bil) | 31.6 | |
| First Trading Date | 01/02/2008 | |
| Distance from 52W High | -23.0% | |
| 50 Days | 200 Days | |
| DMA Price | $124.95 | $102.76 |
| DMA Trend | up | up |
| Distance from DMA | -12.6% | 6.2% |
| 3M | 1YR | |
| Volatility | 65.5% | 94.7% |
| Downside Capture | 152.92 | 97.07 |
| Upside Capture | 88.65 | 244.75 |
| Correlation (SPY) | 36.2% | 21.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.23 | 0.94 | 1.32 | 1.25 | 1.63 | 1.33 |
| Up Beta | 7.72 | 0.72 | 1.01 | 0.71 | 0.86 | 1.11 |
| Down Beta | -1.84 | 1.26 | 1.73 | 1.30 | 1.95 | 1.68 |
| Up Capture | 114% | 83% | 134% | 246% | 642% | 423% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 11 | 22 | 33 | 68 | 136 | 393 |
| Down Capture | 148% | 147% | 135% | 87% | 53% | 99% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 9 | 19 | 30 | 56 | 113 | 354 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SATS | |
|---|---|---|---|---|
| SATS | 323.5% | 94.6% | 1.88 | - |
| Sector ETF (XLC) | 7.2% | 13.4% | 0.27 | 14.0% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 21.4% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 11.3% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -5.3% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 4.5% |
| Bitcoin (BTCUSD) | -38.3% | 42.4% | -1.02 | 18.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SATS | |
|---|---|---|---|---|
| SATS | 30.6% | 69.5% | 0.65 | - |
| Sector ETF (XLC) | 7.6% | 20.7% | 0.28 | 22.5% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 26.4% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 7.5% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 4.6% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 22.7% |
| Bitcoin (BTCUSD) | 11.6% | 54.2% | 0.41 | 14.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SATS | |
|---|---|---|---|---|
| SATS | 12.0% | 54.2% | 0.41 | - |
| Sector ETF (XLC) | 9.0% | 22.2% | 0.47 | 27.5% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 32.3% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 4.8% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 11.2% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 27.0% |
| Bitcoin (BTCUSD) | 60.4% | 66.8% | 1.00 | 12.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Insider Activity
Updated 6/17/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 6162026 | 130.39 | 10,000 | 1,303,900 | 659,513 | Form |
| 2 | Akhavan, Hamid | CEO, EchoStar Capital | Direct | Sell | 6092026 | 121.00 | 52,586 | 6,362,906 | 104,741,593 | Form |
| 3 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 6082026 | 119.50 | 10,000 | 1,195,000 | 604,431 | Form |
| 4 | Akhavan, Hamid | CEO, EchoStar Capital | Direct | Sell | 3102026 | 107.52 | 71,005 | 7,634,458 | 88,520,463 | Form |
| 5 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 3092026 | 114.56 | 19,031 | 2,180,266 | 274,724 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 6162026 | 130.39 | 10,000 | 1,303,900 | 659,513 | Form |
| 2 | Akhavan, Hamid | CEO, EchoStar Capital | Direct | Sell | 6092026 | 121.00 | 52,586 | 6,362,906 | 104,741,593 | Form |
| 3 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 6082026 | 119.50 | 10,000 | 1,195,000 | 604,431 | Form |
| 4 | Akhavan, Hamid | CEO, EchoStar Capital | Direct | Sell | 3102026 | 107.52 | 71,005 | 7,634,458 | 88,520,463 | Form |
| 5 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 3092026 | 114.56 | 19,031 | 2,180,266 | 274,724 | Form |
| 6 | Swieringa, John | PRES, TECH & COO | Direct | Sell | 3062026 | 113.58 | 50,088 | 5,689,228 | 28,797,686 | Form |
| 7 | Akhavan, Hamid | CEO, EchoStar Capital | Direct | Sell | 12152025 | 105.33 | 285,832 | 30,106,499 | 39,688,625 | Form |
| 8 | Ortolf, Tom A | Direct | Sell | 12152025 | 104.06 | 1,754 | 182,521 | 384,814 | Form | |
| 9 | Swieringa, John | PRES, TECH & COO | Direct | Sell | 11252025 | 67.34 | 22,000 | 1,481,480 | 19,091,496 | Form |
| 10 | Brokaw, George R | Direct | Buy | 11202025 | 68.07 | 1,000 | 68,070 | 187,465 | Form | |
| 11 | Akhavan, Hamid | PRESIDENT AND CEO | Direct | Sell | 9162025 | 75.35 | 233,918 | 17,626,533 | 28,393,565 | Form |
| 12 | Gaske, Paul | COO, HUGHES | I | Sell | 9162025 | 78.32 | 750 | Form | ||
| 13 | Gaske, Paul | COO, HUGHES | Direct | Sell | 9162025 | 75.87 | 9,483 | 719,450 | 11,304 | Form |
| 14 | Swieringa, John | PRES, TECH & COO | Direct | Sell | 9112025 | 81.20 | 154,835 | 12,573,120 | 35,080 | Form |
| 15 | Orban, Paul W | EVP, CFO, DISH | I | Sell | 9112025 | 82.37 | 744 | Form | ||
| 16 | Abernathy, Kathleen Q | Direct | Sell | 9112025 | 82.35 | 16,754 | Form | |||
| 17 | Gaske, Paul | COO, HUGHES | Direct | Sell | 9102025 | 80.25 | 45,000 | 3,611,250 | 127,838 | Form |
| 18 | Orban, Paul W | EVP, CFO, DISH | Direct | Sell | 9032025 | 61.25 | 50,062 | 3,066,527 | 28,790 | Form |
| 19 | Orban, Paul W | EVP, CFO, DISH | Direct | Sell | 8292025 | 55.65 | 29,060 | 1,617,189 | 26,156 | Form |
| 20 | Orban, Paul W | EVP, CFO, DISH | Direct | Sell | 8282025 | 54.20 | 2,089 | 113,224 | 153,278 | Form |
| 21 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 7112025 | 81.24 | 60,000 | 4,874,400 | 188,639 | Form |
| 22 | Manson, Dean | CHIEF LEGAL OFFICER | Direct | Sell | 7112025 | 33.00 | 25,000 | 825,000 | 76,626 | Form |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Wireless Telecommunication Services Resources |
| Fierce Wireless |
| RCR Wireless News |
| Mobile World Live |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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