Updated
EchoStar CORPECHO · Communication Services
$94.62+5.23%
Market cap$27.5B
IndustryTelecom Services
EchoStar CORP (ECHO) Financial statements
EchoStar CORP reported revenue of $15.0B in fiscal 2025, up 26.5% a year over 9 years.
Key figures
Net income was -$14.5B and the operating margin -118.1%, against 16.4% in 2016. Free cash flow was -$1.1B, and the company returned $49M in net buybacks. The diluted share count rose 205% over the period (dilution).
- Revenue, FY2025
- $15.0B-5.2% on 2024
- Net income
- -$14.5B+12026.9% on 2024
- Operating margin
- -118.1%
- Free cash flow
- -$1.1B+264.5% on 2024
Revenue and free cash flow
Fiscal years, from EchoStar CORP's 10-K filings.
EchoStar CORP revenue and free cash flow
FY2016–FY2025ECHORevenue$15.0BECHOFree cash flow-$1.1B
Margins
How much of each dollar of revenue is left after the cost of sales, after operating costs, and at the bottom line.
EchoStar CORP margins
FY2016–FY2025ECHOGross margin37%ECHOOperating margin-118%ECHONet margin-97%
Financial statements
Fiscal 2016–2025.
EchoStar CORP income statement, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.5B | $1.8B | $1.9B | $1.9B | $19.8B | $18.6B | $17.0B | $15.8B | $15.0B |
| Cost of revenue | $204M | $212M | — | — | — | $10.7B | $10.1B | $9.5B | $10.1B | $9.4B |
| Gross profit | $1.6B | $1.3B | — | — | — | $9.1B | $8.5B | $7.5B | $5.7B | $5.6B |
| Research and development | $31M | $32M | $28M | $26M | $29M | $32M | $33M | $110M | $91M | $68M |
| Selling, general and admin | $325M | $370M | $436M | $509M | $475M | $2.7B | $3.0B | $3.0B | $2.4B | $2.4B |
| Operating income | $296M | $31M | $36M | $73M | $112M | $3.4B | $2.2B | -$278M | -$304M | -$17.7B |
| Interest expense | $123M | $184M | $219M | $251M | $148M | $96M | $57M | $90M | — | — |
| Pre-tax income | $217M | -$32M | -$126M | -$93M | -$28M | $3.3B | $3.3B | -$1.9B | -$76M | -$18.9B |
| Income tax | $80M | -$155M | $7M | $20M | $24M | $828M | $798M | -$297M | $49M | -$4.4B |
| Net income | $180M | $393M | -$40M | -$63M | -$40M | $2.5B | $2.5B | -$1.7B | -$120M | -$14.5B |
| EPS (diluted) | $1.92 | $4.07 | -$0.42 | -$0.65 | -$0.41 | $7.94 | $8.05 | -$6.28 | -$0.44 | -$50.41 |
| Diluted shares | 94M | 97M | 96M | 97M | 98M | 313M | 308M | 271M | 274M | 288M |
| Gross margin | 88.7% | 86.1% | — | — | — | 45.9% | 45.7% | 44.1% | 36.0% | 37.1% |
| Operating margin | 16.4% | 2.0% | 2.1% | 3.9% | 6.0% | 17.3% | 12.0% | -1.6% | -1.9% | -118.1% |
| Net margin | 9.9% | 25.7% | -2.3% | -3.3% | -2.1% | 12.5% | 13.3% | -10.0% | -0.8% | -96.6% |
EchoStar CORP balance sheet, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $3.1B | $3.2B | $3.2B | $2.5B | $2.5B | $1.5B | $4.3B | $2.4B | $5.5B | $3.0B |
| Receivables | $183M | $197M | $201M | $197M | $184M | $182M | $1.2B | $1.1B | $1.2B | $1.3B |
| Inventory | $63M | $84M | $75M | $80M | $98M | $103M | $626M | $665M | $455M | $381M |
| Total current assets | $3.7B | $3.7B | $3.6B | $2.8B | $2.9B | $1.9B | $6.8B | $4.9B | $8.1B | $5.1B |
| Property, plant and equipment | $3.4B | $3.5B | $2.5B | $2.5B | $2.4B | $2.3B | $7.9B | $9.6B | $9.2B | $2.2B |
| Goodwill | $504M | $504M | $504M | $507M | $512M | $511M | $532M | $0 | $0 | $0 |
| Total assets | $9.0B | $8.8B | $8.7B | $7.2B | $7.1B | $6.0B | $58.7B | $57.1B | $60.9B | $43.0B |
| Total current liabilities | $531M | $414M | $1.3B | $496M | $1.4B | $460M | $6.4B | $8.0B | $5.8B | $12.4B |
| Long-term debt | $3.6B | $3.6B | $2.4B | $2.4B | $1.5B | $1.5B | $1.5B | $19.7B | $25.7B | $18.7B |
| Total liabilities | $5.0B | $4.6B | $4.5B | $3.4B | $3.5B | $2.6B | $36.7B | $36.7B | $40.7B | $37.2B |
| Shareholders' equity | $3.9B | $4.2B | $4.1B | $3.7B | $3.5B | $3.4B | $21.5B | $19.9B | $20.2B | $5.8B |
| Net debt | $1.1B | $1.2B | $2.4B | $870M | $1.5B | $960M | $552M | $20.9B | $22.3B | $24.1B |
EchoStar CORP cash flow, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $803M | $727M | $735M | $656M | $534M | $4.7B | $3.6B | $2.4B | $1.3B | -$99M |
| Capital spending | $746M | $615M | $587M | $448M | $447M | $1.7B | $3.1B | $3.1B | $1.5B | $966M |
| Free cash flow | $58M | $112M | $148M | $208M | $87M | $3.0B | $548M | -$668M | -$292M | -$1.1B |
| Stock-based compensation | $15M | $10M | $10M | $9M | $9M | $59M | $83M | $52M | $36M | $36M |
| Share buybacks (net) | $0 | $0 | -$33M | $0 | -$43M | -$261M | -$89M | — | — | -$49M |
| Net borrowing | $1.5B | $0 | $0 | — | — | — | — | — | $2.5B | — |
| Free cash flow margin | 3.2% | 7.4% | 8.4% | 11.1% | 4.6% | 15.1% | 2.9% | -3.9% | -1.8% | -7.1% |
How EchoStar CORP compares
EchoStar CORP's operating margin is higher than 35% of Communication Services companies and 33% of the 2,820 companies with an operating margin figure.
| Higher than | Communication Services | All stocks |
|---|---|---|
| Operating margin | 35% | 33% |
| Net margin | 98% | 99% |
| Gross margin | 35% | 56% |
| Revenue growth | 3% | 6% |
| ROE | 96% | 96% |
| P/E | 7% | 3% |
Questions about EchoStar CORP
What was EchoStar CORP's revenue in 2025?
$15.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does EchoStar CORP generate?
-$1.1B in fiscal 2025 (operating cash flow minus capital spending).
From EchoStar CORP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.