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Iqstel Inc (IQST) stock

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NASDAQ: IQST Nasdaq Integrated Telecommunication Services

B Fundamentals grade

Iqstel Inc is a US-listed company in the integrated telecommunication services 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

Under review: every model's value for Iqstel Inc is far from the share price, which usually points to a data problem (a merger, a share-count change, a one-off) rather than a bargain or a bubble.

Price vs value

Under review: share count (152m) is 14x the cover-page count (11m). We'll show the comparison once resolved.

Iqstel 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.

  • Funds6 adding, 4 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Iqstel files

Where Iqstel stands after its latest 10-Q/A

Revenue for the twelve months to June 2026 was $394m, up 39.3% on a year earlier, faster than the 23.4% growth a quarter earlier. Free-cash-flow margin held at -1.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks.

Our model value for Iqstel is under review, so past values are not shown until it is resolved.

Source: 10-Q/A filed August 20, 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

Iqstel Inc's trailing-twelve-month revenue grew 39.3% year on year, with a free-cash-flow margin of -1.0%. Where it stands out: revenue growth of 39.3% ranks 1 of 16 integrated telecommunication services companies we cover. Where it lags: gross margin of 2.7% ranks 8 of 8 integrated telecommunication services companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 147.2% while net income fell 43.7%: a 103pp 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

  • Fast growth. Revenue grew 39.3% over the last 12 months, against a median of 3.5% for integrated telecommunication services companies we cover.
  • Growth speeding up. The growth rate is 15.9 points higher than a quarter earlier.

Things to watch

  • Loss-making. Operating margin is -1.3%: costs exceed revenue.
  • Burning cash. Free cash flow was -1.0% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 208.2% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 110% and a beta of 1.1 against the S&P 500.
  • Below peers: gross margin. Gross margin of 2.7% ranks 8 of 8 integrated telecommunication services companies we cover (median 62.1%).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed August 20, 2026
Earnings per share
-$0.20 against an average estimate of -$0.23: beat by 11.8%
Revenue
$109m, up 51.1% on a year earlier
Share reaction
+40.7% in the first session after the results on July 16, 2026, against -1.5% for the S&P 500
Guidance given
pro forma annual revenue run rate $560m (this quarter); adjusted EBITDA run rate $9m (this quarter)

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

Price chart

  • 1 day-7.4%
  • 1 week-12.8%
  • 1 month-27.0%
  • This year-74.2%
  • 1 year-86.6%
  • 5 years-97.8%
  • 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)
$394M
Operating margin
-1.3%
Net margin
-2.2%

Growth

Revenue growth
+39.3%
Change in growth rate
+15.9 pts

Cash

Free cash flow (TTM)
-$3.9M
FCF margin
-1.0%
Stock pay % of revenue
0.2%

Earnings

Last results
July 16, 2026

News & updates

Updated October 31, 2026

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

  1. Agreement
  2. Agreement
  3. Announcement
  4. Results
  5. Guidance
  6. Agreement
  7. 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

Iqstel Inc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: share count (152m) is 14x the cover-page count (11m): held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Iqstel Inc as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.85 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$55 ~$48–$89 Left out: out of range vs price (73.43x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Iqstel Inc with Integrated 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 20182019202020212022
Share price$275.32$3.38$15.73$73.16$14.55
Market value$3.8bn$53m$2.1bn$9.9bn$2.2bn
+ Net debt (− = net cash)$384544$1m$2m−$3m−$1m
Enterprise value$3.8bn$54m$2.1bn$9.9bn$2.2bn
Multiples
Price / sales n/m2.9x32.9x153.1x23.7x
Price / earnings —————
Price / free cash flow —————
EV / EBITDA —————

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

15 /100

Weak moat

How hard Iqstel'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 -16.3% of total assets over 10 years.

  • Pricing power 0 / 20

    Gross margin has been a median 3.5%, moving by 25.3 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -2.4%; its worst year was -8.2%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 8 years, at a median -2.7% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 1284.2% over five years; stock-based pay has been a median 0.1% 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 (20 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

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.19 — $462m +46%
Next $0.58 +405% $553m +20%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −72.5% on 90 days ago. In the last 30 days, 0 analysts raised Iqstel Inc's forecast and 1 cut it.

Consensus EPS forecast Iqstel Inc, last 90 days
−$1.00 −$0.50 $0.00 $0.50 $1.00 90 days ago 60 days ago Now Current fiscal year, 90 days ago: −$0.69 Current fiscal year, 60 days ago: −$0.69 Current fiscal year, Now: −$0.19 −$0.19 Next fiscal year, 90 days ago: −$0.11 Next fiscal year, 60 days ago: −$0.11 Next fiscal year, Now: $0.58 $0.58

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.69−$0.11
60 days ago −$0.69−$0.11
Now −$0.19$0.58

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.23 −$0.20 +11.8%
Mar 2026 −$0.12 −$0.29 −141.7%
Dec 2025 −$0.23 −$0.28 −25.6%
Sept 2025 −$0.40 −$0.25 +37.6%

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

Management guidance

Earnings release, July 16, 2026
  • pro forma annual revenue run rate this quarter about $560m
    “Upon the anticipated closing of the proposed ULTRANET acquisition, expected this quarter, IQSTEL projects a pro forma annual revenue run rate of approximately $560 million and an adjusted EBITDA run rate approaching $9 million.” source
  • annual revenue contribution from ULTRANET acquisition · ULTRANET Telecom Group acquisition annual about $130m
    “$130 million in annual revenue” source
  • annual net income contribution from ULTRANET acquisition · ULTRANET Telecom Group acquisition annual about $4.5m
    “$4.5 million in annual net income” source
  • combined Adjusted EBITDA contribution from ULTRANET acquisition · ULTRANET Telecom Group acquisition annual about $6m Non-GAAP
    “Approximately $6 million in combined Adjusted EBITDA” source
  • adjusted EBITDA run rate this quarter about $9m Non-GAAP
    “Upon the anticipated closing of the proposed ULTRANET acquisition, expected this quarter, IQSTEL projects a pro forma annual revenue run rate of approximately $560 million and an adjusted EBITDA run rate approaching $9 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611
  2. Sep 202611

Counts of recommendations published by analysts covering Iqstel 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
3.3%
of tradable shares
Days to cover
1.26
at average volume
Short interest, 1 month
−47%
to October 15, 2026
Held by institutions
2%
of shares
Held by insiders
2.9%
of shares
Employees
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

What moved the share price

Last 12 months −86.6%

$5.59 on October 31, 2025 to $0.75

ThenNowEffect
Revenue (last 12 months) $283m $394m +39.3%
P/S multiple 2.8x 0.3x −90.3%
Share count 144m 144m 0.0%

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

Last 3 years −95.1%

$15.34 on November 3, 2023 to $0.75

ThenNowEffect
Revenue (last 12 months) $108m $394m +266.3%
P/S multiple 20.5x 0.3x −98.7%
Share count 144m 144m 0.0%

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
IQST+365%−80%−19%+100%−88%−74%
Industry peers (median)−6%−36%+19%+8%+9%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
IQST50%25%25%50%0%9%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
IQST−79%−83%−59%−61%−90%−75%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since July 9, 2018: 100% from July 23, 2018 to November 2, 2026. Getting back needed a 50110% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.75 – $5.73
From 52-week high
−86.9%
vs 50-day average
−21.3%
vs 200-day average
−47.0%
Volatility (1 year)
110%
Beta vs S&P 500
1.07

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
3 up, 9 down
typical move ±13.9%
After a week
4 up, 8 down
typical move ±19.3%
After a month
3 up, 9 down
typical move ±26.2%
Results releasedNext dayS&P 500 next day5 days21 days
July 16, 2026 +40.7% −1.5% +21.5% +32.8%
April 10, 2026 −21.9% +0.9% −28.1% −40.2%
November 17, 2025 −16.2% −1.8% −18.2% −39.1%
October 10, 2025 −8.1% −1.2% −13.7% −26.4%
September 19, 2025 +0.5% +1.0% +2.7% +2.5%
August 27, 2025 −2.0% +0.6% −7.6% −7.6%
August 14, 2025 −10.9% −0.2% −12.2% −22.8%
June 25, 2025 −3.8% +0.8% +0.2% −8.5%
June 11, 2025 −10.2% +0.1% −16.6% −21.0%
June 3, 2025 −13.2% +0.5% −11.6% −23.7%
May 15, 2025 −7.1% +1.1% −20.4% −20.3%
May 8, 2025 +32.3% +0.6% +78.3% +69.7%

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.

Iqstel Inc in five measures

Fundamentals grade B
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) Iqstel Inc
$0 $100M $200M $300M $400M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $125.4M Revenue (TTM), FY23 Q4: $144.5M Revenue (TTM), FY24 Q1: $171.3M Revenue (TTM), FY24 Q2: $217.1M Revenue (TTM), FY24 Q3: $231.6M Revenue (TTM), FY24 Q4: $283.2M Revenue (TTM), FY25 Q1: $289.4M Revenue (TTM), FY25 Q2: $282.9M Revenue (TTM), FY25 Q3: $331.6M Revenue (TTM), FY25 Q4: $316.9M Revenue (TTM), FY26 Q1: $357.2M Revenue (TTM), FY26 Q2: $394.1M $394.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $125.4M
FY23 Q4 $144.5M
FY24 Q1 $171.3M
FY24 Q2 $217.1M
FY24 Q3 $231.6M
FY24 Q4 $283.2M
FY25 Q1 $289.4M
FY25 Q2 $282.9M
FY25 Q3 $331.6M
FY25 Q4 $316.9M
FY26 Q1 $357.2M
FY26 Q2 $394.1M
Revenue growth, TTM YoY Iqstel Inc
0% 50% 100% 150% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 51.2% Revenue growth, TTM YoY, FY23 Q4: 55.0% Revenue growth, TTM YoY, FY24 Q1: 73.9% Revenue growth, TTM YoY, FY24 Q2: 101.8% Revenue growth, TTM YoY, FY24 Q3: 84.7% Revenue growth, TTM YoY, FY24 Q4: 96.0% Revenue growth, TTM YoY, FY25 Q1: 69.0% Revenue growth, TTM YoY, FY25 Q2: 30.3% Revenue growth, TTM YoY, FY25 Q3: 43.2% Revenue growth, TTM YoY, FY25 Q4: 11.9% Revenue growth, TTM YoY, FY26 Q1: 23.4% Revenue growth, TTM YoY, FY26 Q2: 39.3% 39.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 51.2%
FY23 Q4 55.0%
FY24 Q1 73.9%
FY24 Q2 101.8%
FY24 Q3 84.7%
FY24 Q4 96.0%
FY25 Q1 69.0%
FY25 Q2 30.3%
FY25 Q3 43.2%
FY25 Q4 11.9%
FY26 Q1 23.4%
FY26 Q2 39.3%
Operating margin (TTM) Iqstel Inc
-3% -2% -1% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -2.3% Operating margin (TTM), FY23 Q4: -0.2% Operating margin (TTM), FY24 Q1: -0.1% Operating margin (TTM), FY24 Q2: -0.1% Operating margin (TTM), FY24 Q3: -0.2% Operating margin (TTM), FY24 Q4: -0.3% Operating margin (TTM), FY25 Q1: -0.4% Operating margin (TTM), FY25 Q2: -0.6% Operating margin (TTM), FY25 Q3: -0.6% Operating margin (TTM), FY25 Q4: -1.3% Operating margin (TTM), FY26 Q1: -1.3% Operating margin (TTM), FY26 Q2: -1.3% -1.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -2.3%
FY23 Q4 -0.2%
FY24 Q1 -0.1%
FY24 Q2 -0.1%
FY24 Q3 -0.2%
FY24 Q4 -0.3%
FY25 Q1 -0.4%
FY25 Q2 -0.6%
FY25 Q3 -0.6%
FY25 Q4 -1.3%
FY26 Q1 -1.3%
FY26 Q2 -1.3%
FCF margin (TTM) Iqstel Inc
-2% -1.5% -1% -0.5% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -0.7% FCF margin (TTM), FY23 Q4: -1.2% FCF margin (TTM), FY24 Q1: -1.4% FCF margin (TTM), FY24 Q2: -1.9% FCF margin (TTM), FY24 Q3: -1.6% FCF margin (TTM), FY24 Q4: -1.1% FCF margin (TTM), FY25 Q1: -1.5% FCF margin (TTM), FY25 Q2: -0.6% FCF margin (TTM), FY25 Q3: -0.9% FCF margin (TTM), FY25 Q4: -1.2% FCF margin (TTM), FY26 Q1: -0.6% FCF margin (TTM), FY26 Q2: -1.0% -1.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -0.7%
FY23 Q4 -1.2%
FY24 Q1 -1.4%
FY24 Q2 -1.9%
FY24 Q3 -1.6%
FY24 Q4 -1.1%
FY25 Q1 -1.5%
FY25 Q2 -0.6%
FY25 Q3 -0.9%
FY25 Q4 -1.2%
FY26 Q1 -0.6%
FY26 Q2 -1.0%

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 2013 Jun 2013 2014 Jun 2014 2015 Jun 2015 2016 Jun 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 0 0 0 0 8 14 18 65 65 93 145 283 317 394
Gross profit 0 0 0 — 1 1 1 2 2 2 5 8 9 10
EBITDA — — — — −0 −0 −1 −3 −3 −3 −0 −0 −4 −4
Operating income — — 0 0 −0 −0 −1 −3 −3 −3 −0 −1 −4 −5
Net income 0 −0 −0 −0 −0 −2 −5 −4 −4 −6 −1 −5 −9 −9
Diluted EPS $0.00 $0.00 $0.00 $0.00 −$0.03 −$0.15 −$0.35 −$0.03 −$0.03 −$0.04 −$0.01 −$2.86 −$2.86 —
Growth (year on year)
Revenue — +339.1% −100.0% — — +83.3% +30.9% +258.8% 0.0% +44.1% +55.0% +96.0% +11.9% +39.3%
Operating income — — — +645.5% −130.2% — — — — — — — — —
Net income — −222.4% — — — — — — — — — — — —
Margins
Gross margin 81.9% 88.0% — — 8.2% 8.7% 4.3% 2.4% 2.4% 1.9% 3.2% 2.9% 3.0% 2.7%
EBITDA margin — — — — −0.3% −0.1% −3.5% −4.5% −4.5% −3.3% −0.1% −0.1% −1.1% −1.1%
Operating margin — — — — −1.0% −0.2% −3.7% −4.6% −4.6% −3.4% −0.2% −0.3% −1.3% −1.3%
Net margin >999% −326.4% — — −4.7% −15.3% −30.3% −5.9% −5.9% −6.4% −0.5% −1.8% −2.7% −2.2%
Free-cash-flow margin — — — — −3.6% −2.6% −7.1% −5.1% −5.1% −2.0% −1.2% −1.1% −1.2% −1.0%
Cash flow
Cash from operations −0 −0 −0 −0 −0 −0 −1 −3 −3 −2 −1 −3 −4 −4
Capital spending — — — — 0 0 0 0 0 0 0 0 0 0
Free cash flow — — — — −0 −0 −1 −3 −3 −2 −2 −3 −4 −4
Stock-based pay — — — — — — — 1 1 0 0 0 0 1
Free cash flow after stock pay — — — — — — — −5 −5 −2 −2 −3 −4 −5
Balance sheet
Cash — — — — 0 0 0 1 3 1 1 3 2 2
Total debt 0 0 0 0 0 0 2 3 1 0 0 5 4 3
Net debt (negative = net cash) — — — — 0 0 1 2 −3 −1 −1 3 2 1
Diluted shares 10m 400m 400m 151m 11m 14m 16m 135m 135m 152m — — — —

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 6 checks passed · June 30, 2026
What it owns · $48m
Short-term assets $34mLonger-term assets $15m
What it owes, and who funded it · $48m
Short-term liabilities $31mLonger-term liabilities $0mShareholders' equity $17m
  • Short-term assets cover short-term liabilities $34m of assets due within a year against $31m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $34m short-term assets against $196,087 of longer-dated liabilities.
  • More cash than debt $2m of cash against $3m of debt.
  • Debt below 40% of shareholders' equity Debt is 15% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 2% to 15% over five years.
  • A year's operating cash flow covers at least 20% of debt −$4m of operating cash flow against $3m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Iqstel 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

Days sales outstanding
26 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in integrated telecommunication services
Last 12 months unless stated IQST SHEN ATNI KYIV IDT CXDO Median
Revenue, last 12 months $394m $371m $734m $1.2bn $1.3bn $81m $4.6bn
Revenue growth, last 12 months 39.3% 5.5% 2.0% 25.9% 5.4% 25.5% 3.3%
Revenue growth, 3-year average 54.2% 13.7% −0.6% — 1.6% 21.0% 1.9%
Revenue growth, latest quarter 51.1% 4.6% 1.8% — 7.1% 48.9% 5.3%
Gross margin 2.7% 67.0% — — 38.3% 62.0% 61.2%
Operating margin −1.3% −3.9% 37.7% 23.7% 9.3% 4.9% 20.3%
Operating margin, 3-year average −0.7% −6.3% 13.0% — 7.6% 4.0% 16.7%
Net margin −2.2% −10.2% 22.5% 10.7% 6.7% 5.3% 10.5%
Cash from operations / revenue −1.0% 28.4% 17.4% 48.2% 7.0% 14.3% 28.5%
Free-cash-flow margin −1.0% −58.5% 5.6% 26.9% 5.2% 14.3% 13.9%
Free-cash-flow margin, 3-year average −1.1% −67.8% 2.5% — 6.3% 11.0% 10.2%
Stock pay / revenue 0.2% 2.8% 1.0% — 0.8% 3.8% 0.8%
Change in share count 208.2% 1.0% 1.1% 4.4% −1.1% 6.7% 0.5%

Median of all 16 companies we cover in integrated 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

16 integrated telecommunication services companies
Measure Company Peer median Rank
Revenue growth Growth 39.3% 3.5% 1 of 16
Change in growth rate Growth +15.9pp +0.9pp 2 of 16
Gross margin Profitability 2.7% 62.1% 8 of 8
Operating margin Profitability -1.3% 20.3% 13 of 15
Net margin Profitability -2.2% 10.7% 14 of 16
Free-cash-flow margin Cash generation -1.0% 13.8% 13 of 15
Stock pay as % of revenue Cash generation 0.2% 0.8% 2 of 9
Long-term debt as % of assets Balance sheet 0.1% 26.0% 1 of 13
Days sales outstanding Balance sheet 26 days 33 days 5 of 12

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
Segments
Line of business Revenue YoY
Telecom $331M ▲ 8.0%
USA $195M ▼ 1.2%
United Kingdom $142M ▲ 48.0%
Fintech $28M —
Switzerland $22.4M ▲ 67.7%
Corporate $220,755 —
Industrial Elimination -$41.8M —
Elimination -$41.8M —

These categories overlap or exclude eliminations, so shares aren't shown.

From Iqstel Inc's 10-K filed April 6, 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
$288,952
Institutions reporting
18
Shares held vs prior quarter
▲ 17.2%
Positions opened / closed
3 / 1

Top buyers and sellers, Q2 2026: 6 institutions bought and 4 sold ; the biggest buyer was Virtu Financial LLC (+48K shares) and the biggest seller Geode Capital Management, LLC (−15K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Virtu Financial LLC $56,000 48K 19.4% New
UBS Group AG $55,748 48K 19.3% ▼ 9.4%
Geode Capital Management, LLC $50,165 43K 17.4% ▼ 25.8%
Vanguard Capital Management LLC $42,624 37K 14.8% 0.0%
Vanguard Fiduciary Trust Co $19,423 17K 6.7% 0.0%
Stonex Group Inc. $18,116 15K 6.3% New
State Street Corp $15,681 14K 5.4% 0.0%
Northern Trust Corp $12,315 11K 4.3% ▲ 4.1%
Tower Research Capital LLC (TRC) $6,962 6K 2.4% ▲ 93.3%
Osaic Holdings, Inc. $5,895 5K 2.0% 0.0%
Federation Des Caisses Desjardins Du Quebec $4,500 4K 1.6% ▲ 106.4%
Wells Fargo & Company $1,179 1K 0.4% 0.0%

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 Iqstel Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

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

  • July 16, 2026
  • April 10, 2026
  • November 17, 2025
  • October 10, 2025
  • September 19, 2025
  • August 27, 2025

Recent SEC filings

Data status

When each part of this page on Iqstel 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.

Iqstel Inc in brief

What does Iqstel Inc do?
Iqstel Inc is a US-listed company in the integrated telecommunication services industry. Its financial year ends in December.
What is Iqstel Inc's stock ticker?
Iqstel Inc trades under the ticker IQST on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Iqstel Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Iqstel Inc reported revenue of $394M, 39.3% higher than a year earlier, according to its SEC filings.
What is Iqstel Inc's free cash flow?
Iqstel Inc's free-cash-flow margin is -1.0% of revenue over the trailing twelve months, ranking 13 of the 15 integrated telecommunication services companies we cover.
Who are Iqstel Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Virtu Financial LLC, UBS Group AG and Geode Capital Management, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Iqstel Inc's market cap?
On December 30, 2022, Iqstel Inc's market capitalisation was about $2.2B and net debt of -$1M. Market figures come from third-party market data and may be delayed.
How much debt does Iqstel Inc have?
Iqstel Inc's debt-to-equity ratio is 14.8%, from its latest balance sheet (1.6% five years earlier). The financial health section below sets out its other solvency checks.
Who are Iqstel Inc's competitors?
In our Integrated Telecommunication Services peer group, the companies closest to Iqstel Inc are Shenandoah Telecommunications Co, ATN International, Inc., Kyivstar Group Ltd., IDT Corp and Crexendo, Inc. The side-by-side comparison below sets their revenue, margins and growth against Iqstel Inc's.