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Globalstar, Inc. (GSAT) stock

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NASDAQ: GSAT Nasdaq Alternative Carriers Next results ~November 5, 2026

C+ Fundamentals grade

Globalstar, Inc. is a US-listed company in the alternative carriers industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$92

Cash-flow model

Base case. Range ~$70–$120 across our lower- and higher-growth cases (5.5%–15.5% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 9% below our base value.

Price used: $84.02, November 3, 2026

Globalstar, Inc. 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
  • Funds175 adding, 139 cuttingOf 53 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Globalstar files

Where Globalstar stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $281m, up 7.7% on a year earlier, slower than 11.5% a quarter earlier. Free-cash-flow margin fell to 201.6% from 221.6% a year earlier. Operating margin widened to 4.7% from 1.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 4 of our 7 financial-health checks. Our cash-flow model value is $88.60 a share, against a share price of $83.38.

Source: 10-Q filed August 6, 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)

Globalstar, Inc.'s trailing-twelve-month revenue grew 7.7% year on year, with a free-cash-flow margin of 201.6%. Where it stands out: free-cash-flow margin of 201.6% ranks 1 of 174 communication services companies we cover.

Our discounted-cash-flow model values the business at ~$92 per share in the base case (~$70–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 2.0% while net income fell 41.9%: a 40pp divergence.

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 3.6 points on a year ago.
  • Strong cash generation. 201.6% of revenue turned into free cash flow, against a median of 7.2% for communication services companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • High sales multiple. The shares trade at 38 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 52% and a beta of 1.6 against the S&P 500.
  • Growth easing. The growth rate is 3.8 points lower than a quarter earlier.
  • Below peers: net margin. Net margin of -19.4% ranks 140 of 182 communication services companies we cover (median 0.0%).
  • Below peers: change in growth rate. Change in growth rate of -3.8pp ranks 138 of 182 communication services companies we cover (median +0.2pp).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.16 against an average estimate of -$0.09: missed by 78.9%
Revenue
$65m, down 3.5% on a year earlier
Share reaction
-0.1% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate -$0.01

Globalstar'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+0.1%
  • 1 month+1.0%
  • This year+35.9%
  • 1 year+66.8%
  • 5 years+231.4%
  • 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)
$281M
Operating margin
4.7%
Net margin
-19.4%
EPS (TTM, diluted)
$-0.43

Growth

Revenue growth
+7.7%
Change in growth rate
−3.8 pts
Share count change
+0.7%

Cash

Free cash flow (TTM)
$566M
FCF margin
201.6%
Stock pay % of revenue
5.7%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

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

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Insider trade
  9. Insider trade
  10. Insider trade
  11. Insider trade
  12. Results

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

Globalstar, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 9.6% a year of cash-flow growth for five years.That is slower than the 17.7% a year revenue growth Globalstar has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in9.6%
  • Last 12 months7.7%
  • 3 years a year13.4%
  • 5 years a year17.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($84.01, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$92
Price used
$84.01close November 3, 2026
Implied change
▲ +10%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Globalstar, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($421M, FY2026 Q2 TTM), growing 12% and 12.5% in the next two years (forecasts, guidance and its record), then back to 10.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$70–~$120 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Globalstar, Inc.'s free cash flow after stock-based pay ( $421M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Globalstar, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.06 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$92 ~$70–$120 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) 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. ~$92 ~$70–$120 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Globalstar, Inc. with Alternative Carriers 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.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −0%
  • Last year's free-cash-flow margin change, if it persists ▼ −9%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $47$64$87$116$154$204
8.5% $36$49$65$86$113$148
10% $30$39$52$68$88$115

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$21.60$23.70$19.65$9.60$7.80$5.10$17.40$19.95$29.10$31.05$61.04$82.94
Market value$1.8bn$1.7bn$1.5bn$813m$861m$558m$2.0bn$2.4bn$3.6bn$3.9bn$7.7bn$10.6bn
+ Net debt (− = net cash)$668m$644m$533m$495m$521m$411m$251m$160m$342m$120m$36m−$51m
Enterprise value$2.4bn$2.3bn$2.1bn$1.3bn$1.4bn$969m$2.3bn$2.6bn$3.9bn$4.0bn$7.8bn$10.5bn
Multiples
Price / sales 19.6x17.4x13.6x6.2x6.5x4.3x16.5x16.1x15.9x15.6x28.3x37.7x
Price / earnings 24.5x———56.2x———————
Price / free cash flow ——183.4x——32.7x16.3x42.2x52.8x9.0x12.6x18.7x
EV / EBITDA n/m164.5xn/m30.4x43.5x25.7x74.8x—44.3x45.8x82.0x116.3x

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

38 /100

Weak moat

How hard Globalstar'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 -7.0% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -43.2%; its worst year was -96.6%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 9 of 10 years, at a median 40.2% of revenue.

  • Discipline 6 / 20

    The diluted share count rose 27.8% over five years; stock-based pay has been a median 5.4% 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 (43 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 $75m and EPS of −$0.01 (range −$0.12 to $0.10) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.49 +455% $289m +6%
Next $0.25 −50% $349m +21%

Next year's EPS estimate has moved −19.6% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is 0.0% on 90 days ago. In the last 30 days, 1 analyst raised Globalstar, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Globalstar, Inc., last 90 days
$0.20 $0.30 $0.40 $0.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.49 Current fiscal year, 60 days ago: $0.49 Current fiscal year, 30 days ago: $0.49 Current fiscal year, 7 days ago: $0.49 Current fiscal year, Now: $0.49 $0.49 Next fiscal year, 90 days ago: $0.31 Next fiscal year, 60 days ago: $0.31 Next fiscal year, 30 days ago: $0.31 Next fiscal year, 7 days ago: $0.31 Next fiscal year, Now: $0.25 $0.25

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.49$0.31
60 days ago $0.49$0.31
30 days ago $0.49$0.31
7 days ago $0.49$0.31
Now $0.49$0.25

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.09 −$0.16 −78.9%
Mar 2026 −$0.01 −$0.09 −1186.5%
Dec 2025 $0.01 −$0.06 −540.6%
Sept 2025 −$0.03 $0.01 +140.1%

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

Management guidance

Earnings release, August 6, 2026

No numeric guidance in Globalstar, Inc.'s latest earnings release (filed August 6, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Globalstar, Inc.'s revenue by +12.0% next year and +12.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+13.8%, weight 45%) and the company's own record (+10.5%, weight 55%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy133%
Hold267%
Sell00%

Monthly trend

  1. Oct 2026123
  2. Sep 2026213

Counts of recommendations published by analysts covering Globalstar, Inc., 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
7.5%
of tradable shares
Days to cover
6.19
at average volume
Short interest, 1 month
−13%
to October 15, 2026
Held by institutions
27%
of shares
Held by insiders
59.4%
of shares
Employees
477
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

What moved the share price

Last 12 months +52.4%

$54.41 on October 31, 2025 to $82.94

ThenNowEffect
Revenue (last 12 months) $261m $281m +7.7%
P/S multiple 26.4x 37.7x +42.6%
Share count 127m 128m −0.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +289.4%

$21.30 on November 3, 2023 to $82.94

ThenNowEffect
Revenue (last 12 months) $193m $281m +45.7%
P/S multiple 13.3x 37.7x +183.1%
Share count 120m 128m −5.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
GSAT+241%+15%+46%+7%+97%+36%
Industry peers (median)+5%−17%−31%−20%−42%−36%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
GSAT42%50%50%42%50%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
GSAT−66%−45%−41%−51%−47%−20%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 91% from May 16, 2016 to March 23, 2020. Getting back needed a 958% gain, reached on October 3, 2025, 2020 days after the low.

Price behaviour

52-week range
$46.92 – $84.43
From 52-week high
−1.8%
vs 50-day average
+0.4%
vs 200-day average
+9.0%
Volatility (1 year)
52%
Beta vs S&P 500
1.57

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
6 up, 6 down
typical move ±5.2%
After a week
6 up, 6 down
typical move ±7.8%
After a month
7 up, 5 down
typical move ±13.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −0.1% +0.5% −1.0% −1.3%
May 7, 2026 +0.1% +0.5% +0.1% −1.0%
February 27, 2026 +7.1% −0.4% −2.5% +6.8%
November 6, 2025 −1.3% −1.0% +23.6% +32.6%
August 7, 2025 +8.9% +0.7% +3.0% +45.1%
May 8, 2025 −12.5% +0.6% −7.2% +5.4%
February 27, 2025 −0.7% −0.1% +3.1% −2.1%
November 7, 2024 +6.5% +1.2% +1.6% +13.4%
August 8, 2024 +7.3% +2.8% +14.7% +15.6%
May 8, 2024 −6.2% +0.6% −3.9% −15.5%
February 28, 2024 −10.3% +0.2% −27.0% −15.5%
November 2, 2023 +1.4% +2.8% −5.7% +7.9%

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.

Options strategies

All options ideas

How Globalstar, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Globalstar, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

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) Globalstar, Inc.
$200M $220M $240M $260M $280M $300M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $212.7M Revenue (TTM), FY23 Q4: $223.8M Revenue (TTM), FY24 Q1: $221.6M Revenue (TTM), FY24 Q2: $227M Revenue (TTM), FY24 Q3: $241.6M Revenue (TTM), FY24 Q4: $250.3M Revenue (TTM), FY25 Q1: $253.9M Revenue (TTM), FY25 Q2: $260.7M Revenue (TTM), FY25 Q3: $262.2M Revenue (TTM), FY25 Q4: $273M Revenue (TTM), FY26 Q1: $283M Revenue (TTM), FY26 Q2: $280.6M $280.6M

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $212.7M
FY23 Q4 $223.8M
FY24 Q1 $221.6M
FY24 Q2 $227M
FY24 Q3 $241.6M
FY24 Q4 $250.3M
FY25 Q1 $253.9M
FY25 Q2 $260.7M
FY25 Q3 $262.2M
FY25 Q4 $273M
FY26 Q1 $283M
FY26 Q2 $280.6M
Revenue growth, TTM YoY Globalstar, Inc.
0% 20% 40% 60% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 50.1% Revenue growth, TTM YoY, FY23 Q4: 50.7% Revenue growth, TTM YoY, FY24 Q1: 27.1% Revenue growth, TTM YoY, FY24 Q2: 17.8% Revenue growth, TTM YoY, FY24 Q3: 13.6% Revenue growth, TTM YoY, FY24 Q4: 11.9% Revenue growth, TTM YoY, FY25 Q1: 14.6% Revenue growth, TTM YoY, FY25 Q2: 14.9% Revenue growth, TTM YoY, FY25 Q3: 8.5% Revenue growth, TTM YoY, FY25 Q4: 9.0% Revenue growth, TTM YoY, FY26 Q1: 11.5% Revenue growth, TTM YoY, FY26 Q2: 7.7% 7.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 50.1%
FY23 Q4 50.7%
FY24 Q1 27.1%
FY24 Q2 17.8%
FY24 Q3 13.6%
FY24 Q4 11.9%
FY25 Q1 14.6%
FY25 Q2 14.9%
FY25 Q3 8.5%
FY25 Q4 9.0%
FY26 Q1 11.5%
FY26 Q2 7.7%
Operating margin (TTM) Globalstar, Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 1.2% Operating margin (TTM), FY23 Q4: -0.1% Operating margin (TTM), FY24 Q1: -5.4% Operating margin (TTM), FY24 Q2: -7.1% Operating margin (TTM), FY24 Q3: -3.6% Operating margin (TTM), FY24 Q4: -0.4% Operating margin (TTM), FY25 Q1: -1.9% Operating margin (TTM), FY25 Q2: 1.1% Operating margin (TTM), FY25 Q3: 1.4% Operating margin (TTM), FY25 Q4: 2.7% Operating margin (TTM), FY26 Q1: 8.5% Operating margin (TTM), FY26 Q2: 4.7% 4.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 1.2%
FY23 Q4 -0.1%
FY24 Q1 -5.4%
FY24 Q2 -7.1%
FY24 Q3 -3.6%
FY24 Q4 -0.4%
FY25 Q1 -1.9%
FY25 Q2 1.1%
FY25 Q3 1.4%
FY25 Q4 2.7%
FY26 Q1 8.5%
FY26 Q2 4.7%
FCF margin (TTM) Globalstar, Inc.
0% 100% 200% 300% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 44.4% FCF margin (TTM), FY23 Q4: 30.1% FCF margin (TTM), FY24 Q1: 34.1% FCF margin (TTM), FY24 Q2: 39.5% FCF margin (TTM), FY24 Q3: 40.0% FCF margin (TTM), FY24 Q4: 172.7% FCF margin (TTM), FY25 Q1: 179.3% FCF margin (TTM), FY25 Q2: 221.6% FCF margin (TTM), FY25 Q3: 297.9% FCF margin (TTM), FY25 Q4: 225.7% FCF margin (TTM), FY26 Q1: 211.7% FCF margin (TTM), FY26 Q2: 201.6% 201.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 44.4%
FY23 Q4 30.1%
FY24 Q1 34.1%
FY24 Q2 39.5%
FY24 Q3 40.0%
FY24 Q4 172.7%
FY25 Q1 179.3%
FY25 Q2 221.6%
FY25 Q3 297.9%
FY25 Q4 225.7%
FY26 Q1 211.7%
FY26 Q2 201.6%

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

Financial statements

US$ millions 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 Jun 2026
Income
Revenue 64 68 73 76 83 90 90 97 113 130 132 128 124 149 224 250 273 281
EBITDA −32 −32 −23 −25 3 −10 11 14 9 43 32 38 31 −127 88 88 95 90
Operating income −54 −60 −73 −95 −87 −96 −67 −63 −68 −47 −64 −59 −66 −221 −0 −1 7 13
Net income −75 −97 −55 −112 −591 −463 72 −133 −89 −7 15 −110 −113 −257 −25 −63 −9 −54
Diluted EPS −$8.70 −$5.10 −$2.70 −$4.35 −$14.40 −$7.50 $1.05 −$1.80 −$1.20 −$0.15 −$1.05 −$1.05 −$0.90 −$2.15 −$0.29 −$0.59 −$0.15 −$0.43
Growth (year on year)
Revenue — +5.7% +7.2% +4.8% +8.4% +8.9% +0.5% +7.0% +16.3% +15.5% +1.2% −2.5% −3.3% +19.5% +50.7% +11.9% +9.0% +7.7%
EBITDA — — — — — −405.0% — +32.8% −36.0% +375.7% −26.3% +18.7% −18.4% −513.7% — +0.0% +7.7% −2.6%
Net income — — — — — — — −283.4% — — — −815.5% — — — — — —
Diluted EPS — — — — — — — −271.4% — — — — — — — — — —
Margins
EBITDA margin −49.7% −47.6% −31.8% −33.0% 3.9% −10.8% 11.8% 14.6% 8.0% 33.1% 24.1% 29.3% 24.7% −85.6% 39.3% 35.2% 34.7% 32.2%
Operating margin −83.7% −88.0% −100.6% −124.5% −105.7% −106.5% −73.6% −65.3% −60.8% −36.4% −48.6% −46.0% −52.7% −148.8% −0.1% −0.4% 2.7% 4.7%
Net margin −116.6% −143.5% −75.4% −147.0% −714.7% −513.9% 79.9% −136.9% −79.1% −5.0% 11.6% −85.3% −90.6% −173.0% −11.0% −25.2% −3.2% −19.4%
Free-cash-flow margin −32.2% −45.1% −11.1% 8.0% −9.8% 0.8% −3.7% −0.6% 7.4% −1.1% −1.2% 13.3% 101.0% 38.2% 30.1% 172.7% 225.7% 201.6%
Cash flow
Cash from operations −18 −23 −6 7 −6 4 2 9 14 6 3 22 132 64 74 439 622 572
Capital spending 2 7 3 1 2 3 6 9 6 7 5 5 6 7 7 7 6 6
Free cash flow −21 −31 −8 6 −8 1 −3 −1 8 −1 −2 17 126 57 67 432 616 566
Stock-based pay 10 1 2 1 2 3 3 5 5 7 6 6 7 11 22 36 23 16
Free cash flow after stock pay −31 −32 −10 5 −10 −3 −6 −5 3 −8 −7 11 119 46 45 397 593 550
Balance sheet
Cash 68 33 10 12 17 7 7 10 42 15 8 13 14 32 57 391 447 410
Total debt 0 665 724 751 745 673 676 654 575 510 528 424 265 192 399 511 484 359
Net debt (negative = net cash) −68 632 714 739 728 666 668 644 533 495 521 411 251 160 342 120 36 −51
Diluted shares 9m 19m 20m 26m 41m 62m 82m 71m 78m 85m 110m 109m 118m 120m 122m 126m 127m 128m
Returned to shareholders
Dividends — — — — — — — — — — — — 0 0 12 11 11 11
Total returned — — — — — — — — — — — — 0 0 12 11 11 11

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

4 of 7 checks passed · June 30, 2026
What it owns · $2.4bn
Short-term assets $463mLonger-term assets $2.0bn
What it owes, and who funded it · $2.4bn
Short-term liabilities $300mLonger-term liabilities $1.9bnShareholders' equity $293m
  • Short-term assets cover short-term liabilities $463m of assets due within a year against $300m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $463m short-term assets against $1.9bn of longer-dated liabilities.
  • More cash than debt $410m of cash against $359m of debt.
  • Debt below 40% of shareholders' equity Debt is 123% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 65% to 123% over five years.
  • A year's operating cash flow covers at least 20% of debt $572m of operating cash flow against $359m of debt.
  • Operating profit covers interest at least five times over No material interest expense reported.

From Globalstar, Inc.'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

Dividends (TTM)
$10.6M
Returned to shareholders
2%
of free cash flow
Diluted share count
+0.7%
year over year
Total shareholder yield
0.1%
dividends 0.1% + buybacks 0.0% of market value
Sales & admin spending
24.2%
of revenue
Days sales outstanding
27 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in alternative carriers
Last 12 months unless stated GSAT IRDM CCOI UCL Median
Revenue, last 12 months $281m $903m $957m $81m $592m
Revenue growth, last 12 months 7.7% 3.6% −4.5% −11.1% −0.5%
Revenue growth, 3-year average 13.4% 4.6% 11.2% — 11.2%
Revenue growth, latest quarter −3.5% 8.3% −4.3% — −3.5%
Gross margin — — 46.3% 52.4% 49.3%
Operating margin 4.7% 19.0% 8.0% 9.8% 8.9%
Operating margin, 3-year average −0.4% 23.2% −9.8% — −0.4%
Net margin −19.4% 18.1% −4.7% 7.7% 1.5%
Cash from operations / revenue 203.7% 43.2% 1.6% 3.9% 23.6%
Free-cash-flow margin 201.6% 30.7% −14.9% 2.8% 16.8%
Free-cash-flow margin, 3-year average 154.2% 34.1% −20.9% — 34.1%
Stock pay / revenue 5.7% 6.5% 3.2% 1.3% 4.4%
Change in share count 0.7% −2.5% 0.9% 0.6% 0.6%

Median of all 4 companies we cover in alternative carriers. 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

182 communication services companies
Measure Company Peer median Rank
Revenue growth Growth 7.7% 3.1% 73 of 182
Change in growth rate Growth -3.8pp +0.2pp 138 of 182
Operating margin Profitability 4.7% 2.3% 70 of 175
Net margin Profitability -19.4% 0.0% 140 of 182
Free-cash-flow margin Cash generation 201.6% 7.2% 1 of 174
Stock pay as % of revenue Cash generation 5.7% 2.4% 120 of 161
Long-term debt as % of assets Balance sheet 12.6% 27.9% 39 of 119
Change in share count Balance sheet 0.7% 1.3% 71 of 156
Days sales outstanding Balance sheet 27 days 47 days 34 of 156

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 $257M 94.4% ▲ 8.3%
Services Wholesale Capacity $173M 67.1% ▲ 18.9%
Services SPOT $37.3M 14.5% ▼ 9.3%
Commercial Lo T $27.3M 10.6% ▲ 3.9%
Products $15.7M 6.1% ▲ 23.8%
Services Other $4.8M 1.9% ▼ 1.7%
Services Duplex $15.2M 5.6% ▼ 24.4%

From Globalstar, Inc.'s 10-K filed February 27, 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
$2.7B
Institutions reporting
312
Shares held vs prior quarter
▲ 6.4%
Positions opened / closed
86 / 59

Top buyers and sellers, Q2 2026: 175 institutions bought and 139 sold ; the biggest buyer was Pentwater Capital Management LP (+1.4M shares) and the biggest seller Greenhouse Funds LLLP (−2.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $263M 3.2M 9.6% ▼ 19.2%
Vanguard Capital Management LLC $188M 2.3M 6.9% ▲ 1.9%
Vanguard Portfolio Management LLC $178M 2.2M 6.5% ▼ 9.0%
Norges Bank $169M 2.1M 6.2% —
Van Eck Associates Corp $116M 1.4M 4.3% ▲ 46.5%
Pentwater Capital Management LP $110M 1.4M 4.0% New
State Street Corp $105M 1.3M 3.8% ▼ 16.2%
Geode Capital Management, LLC $98.1M 1.2M 3.6% ▼ 16.9%
Beck Mack & Oliver LLC $89.8M 1.1M 3.3% ▼ 1.1%
Millennium Management LLC $83.7M 1.0M 3.1% ▲ 25201.7%
Arrowstreet Capital, Limited Partnership $80.6M 991K 3.0% ▲ 1059.1%
LMR Partners LLP $69.1M 850K 2.5% New

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 Globalstar, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $29.8M 1 trade by 1 insider, last 12 months Insider sales History → $66.6M 40 trades by 6 insiders · 2% under pre-set plans
Net ▼ $36.8M net selling
Insider Date Trade Shares Price Value
Ponder L Barbee Iv General Counsel September 21, 2026 Sell 1,692 $82.96 $140,368
Monroe James Iii Director September 18, 2026 Buy 361,600 $82.52 $29.8M
Lynch James F Director September 18, 2026 Sell 361,600 $82.52 $29.8M
Wolff Benjamin G Director August 27, 2026 Sell 19,998 $81.98 $1.6M
Lynch James F Director August 26, 2026 Sell 110,000 $81.78 $9M
Wolff Benjamin G Director August 21, 2026 Sell 19,998 $82.21 $1.6M
Clary Rebecca VP & Chief Financial Officer August 14, 2026 Sell 24,100 $82.17 $2M
Taylor Timothy Evan VP, Finance & Operations August 13, 2026 Sell 75,000 $82.82 $6.2M
Wolff Benjamin G Director August 12, 2026 Sell 32,711 $83.19 $2.7M
Taylor Timothy Evan VP, Finance & Operations August 12, 2026 Sell 75,000 $83.15 $6.2M
Ponder L Barbee Iv General Counsel August 11, 2026 Sell 4,720 $83.52 $394,214
Wolff Benjamin G Director August 11, 2026 Sell 24,000 $83.54 $2M

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.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 27, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Globalstar, Inc. 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.

Globalstar, Inc. in brief

What does Globalstar, Inc. do?
Globalstar, Inc. is a US-listed company in the alternative carriers industry. Its financial year ends in December.
What is Globalstar, Inc.'s stock ticker?
Globalstar, Inc. trades under the ticker GSAT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Globalstar, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Globalstar, Inc. reported revenue of $281M, 7.7% higher than a year earlier, according to its SEC filings.
What is Globalstar, Inc.'s free cash flow?
Globalstar, Inc.'s free-cash-flow margin is 201.6% of revenue over the trailing twelve months, ranking 1 of the 174 communication services companies we cover.
What is Globalstar, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Globalstar, Inc.'s free cash flow after stock-based pay gives ~$92 per share in the base case, and ~$70–$120 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Globalstar, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Globalstar, Inc.'s market cap?
On November 2, 2026, Globalstar, Inc.'s market capitalisation was about $10.6B and net debt of -$51M. Market figures come from third-party market data and may be delayed.
Does Globalstar, Inc. pay a dividend?
Yes: Globalstar, Inc. paid $10.6M in dividends over the trailing twelve months, a dividend yield of 0.10%.
How much debt does Globalstar, Inc. have?
Globalstar, Inc.'s debt-to-equity ratio is 122.6%, from its latest balance sheet (65.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Globalstar, Inc.'s competitors?
In our Alternative Carriers peer group, the companies closest to Globalstar, Inc. are Iridium Communications Inc., Cogent Communications Holdings, Inc. and Ucloudlink Group Inc. The side-by-side comparison below sets their revenue, margins and growth against Globalstar, Inc.'s.
Are insiders buying or selling Globalstar, Inc. stock?
Over the last 12 months, Globalstar, Inc.'s directors and officers reported 1 open-market purchases and 40 sales on Form 4. The insider trading page charts every trade.
When is Globalstar, Inc.'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 — Globalstar, Inc. announces its own schedule.