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EchoStar (ECHO) stock

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NASDAQ: ECHO Nasdaq Wireless Telecommunication Services Next results ~November 5, 2026

C+ Fundamentals grade

EchoStar is a United States communications company providing pay-television, wireless and satellite broadband services. Its television offering trades as DISH TV, its wireless business operates as a Hybrid Mobile Network Operator after discontinuing its own 5G network deployment in 2025, and its satellite broadband operations are run through its subsidiary, Hughes Satellite Systems Corporation.

Customers are mainly residential subscribers who pay recurring fees for television, wireless and broadband connections. The wireless business depends on radio spectrum licensed by the Federal Communications Commission, and the company has agreed to sell a substantial portion of its spectrum holdings under separate transactions with AT&T and SpaceX.

EchoStar is organised into three segments: Pay-TV, Wireless, and Broadband and Satellite Services, the last of which includes operations outside the United States. Its wireless licences are typically granted by the FCC for terms of ten to twelve years, and the company has invested over $30 billion in total to acquire its wireless spectrum holdings.

Based on EchoStar's 10-K filed March 2, 2026.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$110

Valuation models combined (4)

Base case. Range ~$46–$250. Weighted average of 4 models (growth cash-flow model, residual income, justified price-to-book, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

EchoStar valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 6 selling1 purchase and 40 sales by directors and officers, last 12 monthsInsider trades
  • Funds409 adding, 325 cuttingOf 94 active managers that changed their stake, 46 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter EchoStar files

Where EchoStar stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $14.7bn, down 5.2% on a year earlier, about the same pace as a quarter earlier. That puts it 903 of 931 for growth among all the companies we cover. Free-cash-flow margin held at -4.9%. Operating margin narrowed to -112.7% from -3.4%. The diluted share count is down 4.6% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 2 financial-health checks. Our valuation models combined value is $108 a share, against a share price of $86.15.

Source: 10-Q filed August 3, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

EchoStar's trailing-twelve-month revenue fell 19.8% year on year, with a free-cash-flow margin of -4.4%. Where it stands out: net margin of 81.3% ranks 1 of 7 wireless telecommunication services companies we cover. Where it lags: revenue growth of -19.8% ranks 7 of 7 wireless telecommunication services companies we cover.

Current signal Net margin expanding: TTM net margin reached 81.3%, up 166.7pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 114.3 points on a year ago.
  • Shrinking share count. Diluted shares fell 4.6% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $3.8bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 16.2% over 90 days.

Things to watch

  • Revenue shrinking. Revenue fell 19.8% over the last 12 months.
  • Growth slowing. The growth rate is 14.7 points lower than a quarter earlier.
  • Burning cash. Free cash flow was -4.4% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 54% and a beta of 1.6 against the S&P 500.
  • Weak cash conversion. Free cash flow was -5% of net income over the last 12 months.
  • Heavily shorted. 21.6% of the shares available to trade are sold short (6.0 days of average volume to cover).

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
$24.12 against an average estimate of -$0.09: beat by 27515.3%
Revenue
$1.13bn, down 68.8% on a year earlier
Next report
November 5, 2026; average EPS estimate -$0.10

EchoStar's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.3%
  • 1 week+10.0%
  • 1 month+4.2%
  • This year-9.6%
  • 1 year+31.2%
  • 5 years+277.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$12.2B
Operating margin
2.3%
Net margin
81.3%
EPS (TTM, diluted)
$30.91

Growth

Revenue growth
−19.8%
Change in growth rate
−14.7 pts

Cash

Free cash flow (TTM)
-$533M
FCF margin
-4.4%
Stock pay % of revenue
0.3%

Earnings

Last results
February 24, 2017

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Deal
  3. Announcement
  4. Leadership
  5. Deal
  6. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

EchoStar valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value EchoStar as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$50 ~$39–$58 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$250 ~$170–$370 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$170 ~$140–$210 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: fewer than 5 peers with a usable multiple
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$46 ~$46–$56 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$110 ~$46–$250 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare EchoStar with Wireless Telecommunication Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$31.69$41.65$48.54$29.76$43.31$21.19$26.35$16.68$16.57$22.90$108.70$98.23
Market value$10.6bn$14.0bn$16.8bn$10.2bn$15.0bn$7.4bn$8.3bn$5.1bn$4.5bn$6.3bn$31.3bn$31.4bn
+ Net debt (− = net cash)$1.3bn$1.1bn−$2.4bn−$928m$871m$1.5bn$960m$20.4bn$20.9bn$22.8bn$24.5bn−$3.6bn
Enterprise value$11.8bn$15.1bn$14.3bn$9.3bn$15.8bn$8.9bn$9.2bn$25.5bn$25.4bn$29.1bn$55.7bn$27.8bn
Multiples
Price / sales 5.7x7.8x11.0x5.8x7.9x3.9x0.4x0.3x0.3x0.4x2.1x2.6x
Price / earnings 69.0x78.0x42.7x———3.3x2.1x———3.2x
Price / free cash flow —173.3x116.7x57.0x62.9x59.0x2.7x9.0x————
EV / EBITDA 16.1x20.7x34.4x18.8x28.1x25.4x2.0x7.5x19.3x17.9x—30.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

30 /100

Weak moat

How hard EchoStar's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.9% of total assets over 10 years.

  • Durability 0 / 20

    Operating margin has been a median 5.7%; its worst year was -112.1%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 6 of 10 years, at a median 4.9% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 6.8% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (34 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $3.5bn and EPS of −$0.10 (range −$0.10 to −$0.10) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $24.58 +149% $14.2bn −5%
Next $12.05 −51% $13.4bn −6%

Next year's EPS estimate has moved +16.2% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −3876.2% on 90 days ago. In the last 30 days, 0 analysts raised EchoStar's forecast and 0 cut it.

Consensus EPS forecast EchoStar, last 90 days
−$10.00 $0.00 $10.00 $20.00 $30.00 $40.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.65 Current fiscal year, 60 days ago: $31.72 Current fiscal year, 30 days ago: $30.26 Current fiscal year, 7 days ago: $29.58 Current fiscal year, Now: $24.58 $24.58 Next fiscal year, 90 days ago: $10.38 Next fiscal year, 60 days ago: $17.43 Next fiscal year, 30 days ago: $13.29 Next fiscal year, 7 days ago: $13.68 Next fiscal year, Now: $12.05 $12.05

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.65$10.38
60 days ago $31.72$17.43
30 days ago $30.26$13.29
7 days ago $29.58$13.68
Now $24.58$12.05

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.09 $24.12 +27515.3%
Mar 2026 −$0.56 −$0.51 +9.2%
Dec 2025 −$0.75 −$4.16 −453.3%
Sept 2025 −$1.13 −$44.37 −3810.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, February 24, 2017

No numeric guidance in EchoStar's latest earnings release (filed February 24, 2017). Some companies give their outlook only on the earnings call.

Analyst recommendations

9 analysts, Oct 2026
Buy9100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026369
  2. Sep 2026268
  3. Aug 2026156
  4. Jul 2026156

Counts of recommendations published by analysts covering EchoStar, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
21.6%
of tradable shares
Days to cover
6.02
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
13.5%
of shares
Employees
12,100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ECHO+24%−37%−1%+38%+375%−10%
Industry peers (median)−13%−37%+20%+26%−6%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ECHO50%33%42%58%58%82%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ECHO−23%−42%−59%−31%−49%−41%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 81% from June 19, 2017 to November 16, 2023. Getting back needed a 421% gain, reached on August 26, 2025, 649 days after the low.

Price behaviour

52-week range
$66.93 – $141.80
From 52-week high
−30.7%
vs 50-day average
+7.7%
vs 200-day average
−7.9%
Volatility (1 year)
54%
Beta vs S&P 500
1.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 0 down
typical move ±6.4%
After a week
3 up, 1 down
typical move ±6.7%
After a month
2 up, 2 down
typical move ±5.6%
Results releasedNext dayS&P 500 next day5 days21 days
February 24, 2017 +0.1% +0.3% −3.0% −1.2%
January 31, 2017 +7.4% 0.0% +5.7% +5.3%
July 20, 2016 +0.4% 0.0% +0.1% −0.5%
February 24, 2016 +17.6% +1.7% +17.9% +15.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

EchoStar in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) EchoStar
$12B $14B $16B $18B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $17B Revenue (TTM), FY24 Q1: $16.6B Revenue (TTM), FY24 Q2: $16.2B Revenue (TTM), FY24 Q3: $16B Revenue (TTM), FY24 Q4: $15.8B Revenue (TTM), FY25 Q1: $15.7B Revenue (TTM), FY25 Q2: $15.5B Revenue (TTM), FY25 Q3: $15.2B Revenue (TTM), FY25 Q4: $15B Revenue (TTM), FY26 Q1: $14.8B Revenue (TTM), FY26 Q2: $14.7B Revenue (TTM), FY26 Q3: $12.2B $12.2B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $17B
FY24 Q1 $16.6B
FY24 Q2 $16.2B
FY24 Q3 $16B
FY24 Q4 $15.8B
FY25 Q1 $15.7B
FY25 Q2 $15.5B
FY25 Q3 $15.2B
FY25 Q4 $15B
FY26 Q1 $14.8B
FY26 Q2 $14.7B
FY26 Q3 $12.2B
Revenue growth, TTM YoY EchoStar
-20% -15% -10% -5% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -8.7% Revenue growth, TTM YoY, FY24 Q1: -8.6% Revenue growth, TTM YoY, FY24 Q2: -9.1% Revenue growth, TTM YoY, FY24 Q3: -7.9% Revenue growth, TTM YoY, FY24 Q4: -7.0% Revenue growth, TTM YoY, FY25 Q1: -5.8% Revenue growth, TTM YoY, FY25 Q2: -4.8% Revenue growth, TTM YoY, FY25 Q3: -5.3% Revenue growth, TTM YoY, FY25 Q4: -5.2% Revenue growth, TTM YoY, FY26 Q1: -5.6% Revenue growth, TTM YoY, FY26 Q2: -5.2% Revenue growth, TTM YoY, FY26 Q3: -19.8% -19.8%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -8.7%
FY24 Q1 -8.6%
FY24 Q2 -9.1%
FY24 Q3 -7.9%
FY24 Q4 -7.0%
FY25 Q1 -5.8%
FY25 Q2 -4.8%
FY25 Q3 -5.3%
FY25 Q4 -5.2%
FY26 Q1 -5.6%
FY26 Q2 -5.2%
FY26 Q3 -19.8%
Operating margin (TTM) EchoStar
-150% -100% -50% 0% 50% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -1.6% Operating margin (TTM), FY24 Q1: -3.9% Operating margin (TTM), FY24 Q2: -5.9% Operating margin (TTM), FY24 Q3: -6.8% Operating margin (TTM), FY24 Q4: -1.9% Operating margin (TTM), FY25 Q1: -2.4% Operating margin (TTM), FY25 Q2: -3.4% Operating margin (TTM), FY25 Q3: -112.1% Operating margin (TTM), FY25 Q4: -118.1% Operating margin (TTM), FY26 Q1: -116.5% Operating margin (TTM), FY26 Q2: -112.7% Operating margin (TTM), FY26 Q3: 2.3% 2.3%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -1.6%
FY24 Q1 -3.9%
FY24 Q2 -5.9%
FY24 Q3 -6.8%
FY24 Q4 -1.9%
FY25 Q1 -2.4%
FY25 Q2 -3.4%
FY25 Q3 -112.1%
FY25 Q4 -118.1%
FY26 Q1 -116.5%
FY26 Q2 -112.7%
FY26 Q3 2.3%
FCF margin (TTM) EchoStar
-8% -6% -4% -2% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -3.9% FCF margin (TTM), FY24 Q1: -4.6% FCF margin (TTM), FY24 Q2: -2.7% FCF margin (TTM), FY24 Q3: -0.9% FCF margin (TTM), FY24 Q4: -1.8% FCF margin (TTM), FY25 Q1: -1.8% FCF margin (TTM), FY25 Q2: -4.5% FCF margin (TTM), FY25 Q3: -5.1% FCF margin (TTM), FY25 Q4: -7.1% FCF margin (TTM), FY26 Q1: -6.1% FCF margin (TTM), FY26 Q2: -4.9% FCF margin (TTM), FY26 Q3: -4.4% -4.4%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -3.9%
FY24 Q1 -4.6%
FY24 Q2 -2.7%
FY24 Q3 -0.9%
FY24 Q4 -1.8%
FY25 Q1 -1.8%
FY25 Q2 -4.5%
FY25 Q3 -5.1%
FY25 Q4 -7.1%
FY26 Q1 -6.1%
FY26 Q2 -4.9%
FY26 Q3 -4.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1.9 2.4 2.8 3.1 3.3 3.4 1.8 1.8 1.5 1.8 1.9 1.9 19.8 18.6 17.0 15.8 15.0 12.2
EBITDA 0.2 0.4 0.5 0.6 0.6 0.9 0.7 0.7 0.4 0.5 0.6 0.4 4.6 3.4 1.3 1.6 −16.1 0.9
Operating income 0.0 0.1 0.1 0.1 0.1 0.3 0.3 0.3 0.0 0.0 0.1 0.1 3.4 2.2 −0.3 −0.3 −17.7 0.3
Net income 0.4 0.2 0.0 0.2 0.0 0.2 0.2 0.2 0.4 −0.0 −0.1 −0.0 2.5 2.5 −1.7 −0.1 −14.5 9.9
Diluted EPS $1.19 $0.67 $0.01 $0.67 $0.01 $0.50 $0.49 $0.54 $1.14 −$0.12 −$0.18 −$0.11 $7.94 $8.05 −$6.28 −$0.44 −$50.41 $30.91
Growth (year on year)
Revenue −11.5% +23.5% +17.5% +13.0% +5.1% +5.0% −46.3% −2.1% −15.8% +15.6% +7.0% +0.1% +949.8% −6.0% −8.7% −7.0% −5.2% −19.8%
EBITDA — +49.1% +25.7% +19.4% +9.6% +44.9% −17.0% −0.8% −42.9% +18.5% +14.3% −37.8% +>999% −26.5% −61.3% +23.2% <−999% —
Operating income — — −43.2% +23.6% +3.7% +216.7% −16.6% +8.2% −89.7% +18.2% +102.2% +53.9% +>999% −34.8% −112.4% — — —
Net income — −44.0% −98.2% — −98.8% — +0.3% +17.3% +118.2% −110.3% — — — −0.3% −168.7% — — —
Diluted EPS — −43.4% −98.3% — −98.8% — −1.7% +9.7% +112.0% −110.3% — — — +1.4% −178.0% — — —
Margins
EBITDA margin 13.1% 15.8% 16.9% 17.8% 18.6% 25.7% 39.7% 40.3% 27.3% 28.0% 29.9% 18.6% 23.4% 18.3% 7.8% 10.3% −107.5% 7.5%
Operating margin 0.3% 6.1% 2.9% 3.2% 3.2% 9.5% 14.8% 16.4% 2.0% 2.1% 3.9% 6.0% 17.3% 12.0% −1.6% −1.9% −118.1% 2.3%
Net margin 19.2% 8.7% 0.1% 6.8% 0.1% 4.4% 8.3% 9.9% 25.7% −2.3% −3.3% −2.1% 12.5% 13.3% −10.0% −0.8% −96.6% 81.3%
Free-cash-flow margin −0.9% 8.8% 2.5% −0.3% 1.8% 4.6% −1.8% 4.5% 9.4% 10.2% 12.6% 6.7% 15.3% 3.1% −3.9% −1.8% −7.1% −4.4%
Cash flow
Cash from operations 0.2 0.4 0.4 0.5 0.5 0.8 0.8 0.8 0.7 0.7 0.7 0.5 4.7 3.6 2.4 1.3 −0.1 −0.1
Capital spending 0.2 0.2 0.4 0.5 0.4 0.7 0.8 0.7 0.6 0.6 0.4 0.4 1.6 3.1 3.1 1.5 1.0 0.4
Free cash flow −0.0 0.2 0.1 −0.0 0.1 0.2 −0.0 0.1 0.1 0.2 0.2 0.1 3.0 0.6 −0.7 −0.3 −1.1 −0.5
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0
Free cash flow after stock pay −0.0 0.2 0.1 −0.0 0.0 0.1 −0.1 0.1 0.1 0.2 0.2 0.1 3.0 0.5 −0.7 −0.3 −1.1 −0.6
Balance sheet
Cash 0.0 0.1 0.6 0.7 0.6 0.5 0.9 2.6 2.4 0.9 1.5 0.9 0.5 2.5 1.8 4.3 1.9 13.4
Total debt 0.4 0.4 2.5 2.5 2.4 2.4 2.2 3.7 — — 2.4 2.4 1.5 22.9 22.8 27.1 26.4 9.8
Net debt (negative = net cash) 0.4 0.3 1.9 1.8 1.8 1.8 1.3 1.1 −2.4 −0.9 0.9 1.5 1.0 20.4 20.9 22.8 24.5 −3.6
Diluted shares 307m 304m 311m 314m 325m 331m 334m 337m 345m 344m 345m 350m 313m 308m 271m 274m 288m 320m
Returned to shareholders
Buybacks 0.0 0.0 — — — — — 0.0 0.0 0.0 0.0 0.0 0.3 0.1 — — 0.0 —
Total returned 0.0 0.0 — — — — — 0.0 0.0 0.0 0.0 0.0 0.3 0.1 — — 0.0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · September 30, 2026
What it owns · $36.3bn
Short-term assets $14.9bnLonger-term assets $21.4bn
What it owes, and who funded it · $36.3bn
Short-term liabilities $1.5bnLonger-term liabilities $17.8bnShareholders' equity $16.9bn
  • Short-term assets cover short-term liabilities $14.9bn of assets due within a year against $1.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $14.9bn short-term assets against $17.8bn of longer-dated liabilities.
  • More cash than debt $13.4bn of cash against $9.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 57% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 43% to 57% over five years.
  • A year's operating cash flow covers at least 20% of debt −$84m of operating cash flow against $9.6bn of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From EchoStar's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Buybacks, last 3 fiscal years
$399M
R&D spending
0.4%
of revenue
Sales & admin spending
16.1%
of revenue
Days sales outstanding
12 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in wireless telecommunication services
Last 12 months unless stated ECHO VOD TMUS SPOK ASTS SURG Median
Revenue, last 12 months $12.2bn $46.9bn $93.8bn $135m $115m $67m $135m
Revenue growth, last 12 months −19.8% 16.6% 9.3% −3.3% 706.3% 83.9% 16.6%
Revenue growth, 3-year average −11.2% — 6.2% −0.8% 160.0% −22.3% −0.8%
Revenue growth, latest quarter −68.8% — 7.4% −2.6% >999% 40.7% 7.4%
Gross margin — 31.5% 85.1% 78.6% 0.0% −19.6% 15.7%
Operating margin 2.3% 7.0% 20.7% 12.9% −38.6% −41.0% 2.3%
Operating margin, 3-year average −38.9% 10.6% 21.4% 13.6% — −58.6% 10.6%
Net margin 81.3% −1.0% 12.0% 13.9% −536.7% −47.9% −1.0%
Cash from operations / revenue −0.7% 35.3% 30.6% 24.7% −125.5% −23.0% −0.7%
Free-cash-flow margin −4.4% 23.3% 19.9% 22.3% <−999% −23.0% 7.8%
Free-cash-flow margin, 3-year average −3.5% 26.2% 18.9% 19.8% <−999% −36.1% 7.7%
Stock pay / revenue 0.3% 0.3% 0.9% 4.4% 128.3% 0.2% 0.6%
Change in share count −4.6% −8.1% −4.2% 2.4% — 14.9% −4.2%

Median of all 7 companies we cover in wireless telecommunication services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

7 wireless telecommunication services companies
Measure Company Peer median Rank
Revenue growth Growth -19.8% 16.6% 7 of 7
Change in growth rate Growth -14.7pp +15.6pp 7 of 7
Operating margin Profitability 2.3% 7.0% 4 of 6
Net margin Profitability 81.3% -1.0% 1 of 7
Free-cash-flow margin Cash generation -4.4% 19.9% 4 of 6
Long-term debt as % of assets Balance sheet 26.6% 37.0% 1 of 5
Days sales outstanding Balance sheet 12 days 38 days 2 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Services $14B 93.5% ▼ 6.2%
Equipment Sales and Other Revenue $981M 6.5% ▲ 12.9%
Geography
Region Revenue Share YoY
North America $14.7B 98.1% ▼ 5.1%
Other Excluding North America $288M 1.9% ▼ 9.2%

From EchoStar's 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$17.5B
Institutions reporting
698
Shares held vs prior quarter
▲ 0.1%
Positions opened / closed
144 / 109

Top buyers and sellers, Q2 2026: 409 institutions bought and 325 sold ; the biggest buyer was Citadel Advisors LLC (+2.9M shares) and the biggest seller FMR LLC (−8.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.3B 12.7M 7.4% ▼ 32.5%
State Street Corp $1.1B 10.7M 6.2% ▼ 26.7%
Vanguard Capital Management LLC $897M 8.8M 5.1% ▲ 1.7%
Wellington Management Group LLP $853M 8.4M 4.9% ▲ 13.1%
Vanguard Portfolio Management LLC $599M 5.9M 3.4% ▼ 7.9%
Darsana Capital Partners LP $508M 5.0M 2.9% ▼ 28.6%
UBS Group AG $496M 4.9M 2.8% ▲ 42.6%
Arini Capital Management Ltd $491M 4.8M 2.8% ▲ 40.2%
Geode Capital Management, LLC $401M 4.0M 2.3% ▼ 15.1%
Pentwater Capital Management LP $392M 3.9M 2.2% ▲ 63.6%
Apollo Management Holdings, L.P. $375M 3.7M 2.1% ▲ 96.3%
Goldman Sachs Group Inc $373M 3.7M 2.1% ▲ 81.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not EchoStar's complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $68,070 1 trade by 1 insider, last 12 months Insider sales History → $57.4M 40 trades by 6 insiders · 68% under pre-set plans
Net ▼ $57.3M net selling
Insider Date Trade Shares Price Value
Wade William David Director August 13, 2026 Sell 2,425 $91.48 $221,839
Wade William David Director August 12, 2026 Sell 2,575 $92.65 $238,574
Bye Stephen J Director August 7, 2026 Sell 5,000 $89.90 $449,500
Bye Stephen J Director August 7, 2026 Sell 3,508 $89.73 $314,773
Manson Dean CHIEF LEGAL OFFICER June 12, 2026 Sell pre-set plan 4,000 $130.39 $521,560
Manson Dean CHIEF LEGAL OFFICER June 12, 2026 Sell pre-set plan 6,000 $130.39 $782,340
Akhavan Hamid CEO, EchoStar Capital June 5, 2026 Sell pre-set plan 7,513 $121.00 $909,073
Akhavan Hamid CEO, EchoStar Capital June 5, 2026 Sell pre-set plan 45,073 $121.00 $5.5M
Manson Dean CHIEF LEGAL OFFICER June 4, 2026 Sell pre-set plan 10,000 $119.50 $1.2M
Akhavan Hamid CEO, EchoStar Capital March 6, 2026 Sell 71,005 $107.52 $7.6M
Manson Dean CHIEF LEGAL OFFICER March 5, 2026 Sell 11,400 $114.60 $1.3M
Manson Dean CHIEF LEGAL OFFICER March 5, 2026 Sell 7,631 $114.51 $873,826

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

No trades in EchoStar disclosed in the last 12 months; 4 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

  • February 24, 2017
  • January 31, 2017
  • July 20, 2016
  • February 24, 2016
  • February 23, 2012
  • December 1, 2011

Recent SEC filings

Data status

When each part of this page on EchoStar was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

EchoStar in brief

What does EchoStar do?
EchoStar is a US-listed company in the wireless telecommunication services industry. Its financial year ends in December.
What is EchoStar's stock ticker?
EchoStar trades under the ticker ECHO on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is EchoStar's revenue, and how fast is it growing?
Over its most recent trailing twelve months, EchoStar reported revenue of $12.2B, 19.8% lower than a year earlier, according to its SEC filings.
What is EchoStar's free cash flow?
EchoStar's free-cash-flow margin is -4.4% of revenue over the trailing twelve months, ranking 4 of the 6 wireless telecommunication services companies we cover.
Who are EchoStar's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., State Street Corp and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is EchoStar's market cap?
On November 2, 2026, EchoStar's market capitalisation was about $31.4B, with a price-to-earnings ratio of 3.2 and net debt of -$3.6B. Market figures come from third-party market data and may be delayed.
How much debt does EchoStar have?
EchoStar's debt-to-equity ratio is 56.9%, from its latest balance sheet (43.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are EchoStar's competitors?
In our Wireless Telecommunication Services peer group, the companies closest to EchoStar are Vodafone Group Public LTD Co, T-Mobile US, Spok Holdings, Inc, AST Spacemobile, Inc. and Surgepays, Inc. The side-by-side comparison below sets their revenue, margins and growth against EchoStar's.
Are insiders buying or selling EchoStar stock?
Over the last 12 months, EchoStar's directors and officers reported 1 open-market purchases and 40 sales on Form 4. The insider trading page charts every trade.
When is EchoStar's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — EchoStar announces its own schedule.