EchoStar Corporation (ECHO) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ECHO SEC filings page.
EchoStar Corporation (ECHO) reported $14.7B in revenue over the twelve months to Jun 30, 2026, down 5.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
EchoStar’s reported economics deteriorated sharply: modest gross-margin recovery in FY2025 did not prevent operating losses, cash outflow, and heavier leverage.
Profit quality split apart from operating performance in FY2025: operating income was a loss of$17.7B , yet net loss was only$51M after a$4.4B tax benefit and other non-operating effects. That gap means the bottom-line result substantially understates the weakness visible before financing and tax items.
Margin recovery was not operating recovery. Gross margin improved from
Financing pressure increased while cash conversion weakened. Debt-to-equity rose from 0.4x in FY2021 to 3.2x in FY2025, while operating cash flow shifted from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of EchoStar Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
EchoStar Corporation's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 8/100.
EchoStar Corporation's revenue declined 5.2% year-over-year, from $15.8B to $15.0B. This contraction results in a growth score of 14/100.
EchoStar Corporation has elevated debt relative to equity (D/E of 3.24), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 20/100, reflecting increased financial risk.
EchoStar Corporation's current ratio of 0.42 is below the typical benchmark, resulting in a score of 3/100. This tight liquidity could limit financial flexibility if cash inflows slow.
EchoStar Corporation's operations used $99.4M of cash, and capex of $965.7M added to the outflow, for a free cash flow shortfall of $1.1B. This results in a cash flow score of 16/100.
EchoStar Corporation posts a -0.9% return on equity (ROE), meaning it loses $1 for every $100 of shareholders' equity. This results in a returns score of 7/100. This is down from -0.6% the prior year.
EchoStar Corporation scores -0.86, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($27.6B) relative to total liabilities ($37.2B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
EchoStar Corporation passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
EchoStar Corporation reported a net loss of $51.9M while operations used $99.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
EchoStar Corporation generated $3.6B in revenue in Q2 2026. This represents a decrease of 4.0% from the same quarter a year earlier. Against the prior quarter it is down 2.5%.
EchoStar Corporation's EBITDA was $683.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 144.4% from the same quarter a year earlier. Against the prior quarter it is up 22.2%.
EchoStar Corporation reported $8.5B in net income in Q2 2026. This represents an increase of 2864.3% from the same quarter a year earlier. Against the prior quarter it is up 5861.2%.
EchoStar Corporation earned $24.12 per diluted share (EPS) in Q2 2026. This represents an increase of 2375.5% from the same quarter a year earlier. Against the prior quarter it is up 4829.4%.
Cash & Balance Sheet
EchoStar Corporation recorded an outflow of $102.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 64.2% from the same quarter a year earlier. Against the prior quarter it is down 197.5%.
EchoStar Corporation held $440.0M in cash against $16.0B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
EchoStar Corporation's gross margin was 46.1% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 12.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
EchoStar Corporation's operating margin was 14.3% in Q2 2026, reflecting core business profitability. This is up 20.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.6 percentage points.
EchoStar Corporation's ROE was 59.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 61.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 62.4 percentage points.
Not shown for Q2 2026: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
EchoStar Corporation invested $14.0M in research and development in Q2 2026. This represents a decrease of 12.5% from the same quarter a year earlier. Against the prior quarter it is down 12.5%.
EchoStar Corporation invested $92.3M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 68.5% from the same quarter a year earlier. Against the prior quarter it is down 30.8%.
Not reported for Q2 2026.
ECHO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6B-4.0% | $3.7B-5.2% | $3.8B-4.3% | $3.6B-7.1% | $3.7B-5.8% | $3.9B-3.6% | $4.0B-4.7% | $3.9B-5.3% |
| Cost of Revenue | $1.9B-21.7% | $2.0B-17.8% | $2.2B-13.9% | $2.4B-6.6% | $2.5B-1.8% | $2.4B-4.9% | $2.5B | $2.5B+7.2% |
| Gross Profit | $1.6B+30.5% | $1.7B+16.1% | $1.6B+12.6% | $1.2B-8.1% | $1.3B-12.6% | $1.4B-1.4% | $1.4B | $1.4B-22.3% |
| R&D Expenses | $14.0M-12.5% | $16.0M-11.1% | $15.0M-11.8% | $19.0M-5.0% | $16.0M-44.8% | $18.0M-28.0% | $17.0M | $20.0M-23.1% |
| SG&A Expenses | $547.8M-13.0% | $639.0M+6.9% | $531.4M-5.8% | $621.5M-3.4% | $629.5M+5.8% | $597.9M-4.3% | $564.2M | $643.1M-15.6% |
| Operating Income | $512.9M+340.4% | $392.8M+545.7% | -$779.7M-1143.8% | -$16.6B-10251.5% | -$213.4M-226.5% | -$88.1M-478.1% | -$62.7M+92.6% | -$160.8M-412.8% |
| EBITDA | $683.5M+144.4% | $559.4M+39.8% | -$566.9M-242.7% | -$16.3B-5231.8% | $279.6M-36.8% | $400.2M-14.9% | $397.1M+207.4% | $316.7M-13.4% |
| Income Tax | $1.3B+1656.5% | -$20.9M+67.3% | -$81.6M-179.5% | -$4.2B-11718.0% | -$85.3M-412.4% | -$64.0M-3224.0% | $102.7M | -$35.2M+40.8% |
| Net Income | $8.5B+2864.3% | -$146.9M+27.5% | $13.2B+3908.2% | -$12.8B-8912.8% | -$306.1M-48.9% | -$202.7M-88.7% | $330.3M+116.3% | -$141.8M-19.4% |
| EPS (Basic) | $29.17+2851.9% | -$0.51+28.2% | -$4.16-438.2% | -$44.37-8432.7% | -$1.06-39.5% | -$0.71-77.5% | $1.23+116.4% | -$0.52-2.0% |
| EPS (Diluted) | $24.12+2375.5% | -$0.51+28.2% | -$4.16-438.2% | -$44.37-8432.7% | -$1.06-39.5% | -$0.71-77.5% | $1.23+116.4% | -$0.52-2.0% |
| Diluted Shares (Avg) | 352M+22.3% | 289M+0.9% | N/A | 288,051+6.0% | 288M+105759.2% | 287M+105422.3% | N/A | 271,736+0.2% |
Not reported in any period shown, so not listed: Interest Expense.
ECHO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $39.4B-34.2% | $41.4B-31.7% | $43.0B-29.4% | $45.3B-21.3% | $59.9B+8.4% | $60.6B+9.0% | $60.9B+6.7% | $57.5B+823.6% |
| Current Assets | $19.9B+187.1% | $3.5B-53.6% | $5.1B-36.6% | $6.0B+20.6% | $6.9B+148.1% | $7.6B+145.4% | $8.1B+65.5% | $5.0B+102.2% |
| Cash & Equivalents | $440.0M-81.2% | $1.3B-46.9% | $1.9B-56.3% | $2.4B+290.6% | $2.3B+459.4% | $2.5B+312.2% | $4.3B+136.4% | $622.6M-43.1% |
| Short-Term Investments | $56.2M-97.2% | $172.3M-93.2% | $1.1B-11.4% | $1.5B+2763.0% | $2.0B+1861.9% | $2.5B+1556.9% | $1.2B+99.3% | $51.8M-94.2% |
| Inventory | $322.4M-14.1% | $395.1M-4.4% | $380.6M-16.4% | $416.1M-5.8% | $375.1M-32.7% | $413.4M-34.7% | $455.2M-31.6% | $441.7M+163.7% |
| Accounts Receivable | $905.6M-21.8% | $1.3B+6.3% | $1.3B+6.3% | $1.1B+2.5% | $1.2B+10.0% | $1.2B+15.7% | $1.2B+6.8% | $1.1B+367.1% |
| Long-Term Investments | $145.0M+35.6% | $123.0M+3.5% | $109.0M+801.6% | $109.9M+899.2% | $106.9M+529.1% | $118.9M+204.9% | $12.1M-97.5% | $11.0M-88.0% |
| Goodwill | N/A | N/A | $0 | N/A | N/A | N/A | $0 | N/A |
| Total Liabilities | $25.2B-37.1% | $35.7B-11.9% | $37.2B-8.6% | $38.3B+0.6% | $40.1B+12.5% | $40.5B+13.4% | $40.7B+10.8% | $38.0B+1383.5% |
| Current Liabilities | $3.8B-32.7% | $11.8B+94.3% | $12.4B+112.0% | $10.0B+33.2% | $5.7B-18.7% | $6.1B-13.6% | $5.8B-27.3% | $7.5B+1785.4% |
| Non-Current Liabilities | $21.4B-37.8% | $23.9B-30.5% | $24.8B-28.7% | $28.3B-7.4% | $34.4B+20.1% | $34.5B+20.0% | $34.9B+21.5% | $30.6B+1310.0% |
| Long-Term Debt | $16.0B-37.1% | $18.0B-28.9% | $18.7B-27.3% | $21.8B | $25.4B | $25.3B+2563.3% | $25.7B+30.1% | N/A |
| Total Equity | $14.2B-28.3% | $5.6B-71.9% | $5.8B-71.4% | $7.0B-64.2% | $19.7B+0.8% | $20.0B+1.2% | $20.2B+1.6% | $19.4B+444.1% |
| Retained Earnings | $5.4B-51.1% | -$3.0B-126.5% | -$2.9B-124.8% | -$1.7B-114.8% | $11.1B-2.8% | $11.4B-1.8% | $11.6B-1.0% | $11.3B+1186.6% |
ECHO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.0M-232.6% | $238.3M+15.2% | -$425.3M-1033.7% | $111.7M-59.6% | $7.5M-98.4% | $206.8M-54.2% | $45.6M-88.9% | $276.2M-42.8% |
| Depreciation & Amortization | $170.5M-65.4% | $166.6M-65.9% | $212.9M-53.7% | $391.3M-18.0% | $493.1M-2.9% | $488.3M+0.6% | $459.8M-4.7% | $477.4M+20.2% |
| Stock-Based Compensation | N/A | $10.2M+34.5% | N/A | N/A | N/A | $7.6M-16.0% | N/A | N/A |
| Capital Expenditures | $92.3M-68.5% | $133.4M-48.4% | $158.1M-54.1% | $256.0M-23.3% | $293.2M-15.6% | $258.4M-50.3% | $344.3M-39.3% | $333.7M-59.9% |
| Free Cash Flow | -$102.3M+64.2% | $104.8M+302.9% | -$583.4M-95.3% | -$144.4M-150.9% | -$285.7M-315.7% | -$51.7M+24.4% | -$298.7M-91.4% | -$57.5M+83.6% |
| Investing Cash Flow | -$37.4M+73.9% | $849.1M+151.3% | $245.4M+113.1% | $149.7M+145.5% | -$143.0M+76.6% | -$1.7B-595.7% | -$1.9B-368.5% | -$329.2M-108.0% |
| Financing Cash Flow | $4.6M+113.4% | -$1.8B-437.4% | -$347.4M-109.6% | -$196.9M-108.5% | -$34.1M-44.5% | -$331.8M+76.6% | $3.6B+2611.8% | $2.3B+2646.5% |
| Share Buybacks | N/A | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
ECHO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.1%+12.2pp | 45.5%+8.4pp | 42.5%+6.4pp | 34.4%-0.4pp | 33.9%-2.6pp | 37.1%+0.8pp | 36.1% | 34.8%-7.6pp |
| Operating Margin | 14.3%+20.1pp | 10.7%+13.0pp | -20.5%-19.0pp | -460.4% | -5.7%-4.1pp | -2.3%-1.9pp | -1.6%+18.9pp | -4.1%-3.4pp |
| Net Margin | 236.6% | -4.0%+1.2pp | 348.7% | -353.6% | -8.2%-3.0pp | -5.2%-2.6pp | 8.3%+56.9pp | -3.6%-0.8pp |
| Return on Equity | 59.8%+61.3pp | -2.6%-1.6pp | 229.6%+228.0pp | -183.9%-183.1pp | -1.6%-0.5pp | -1.0%-0.5pp | 1.6%+11.8pp | -0.7%+2.6pp |
| Return on Assets | 21.5%+22.0pp | -0.4%0.0pp | 30.8%+30.2pp | -28.2%-28.0pp | -0.5%-0.1pp | -0.3%-0.1pp | 0.5%+4.1pp | -0.3%+1.7pp |
| Current Ratio | 5.20+4.0x | 0.30-1.0x | 0.42-1.0x | 0.61-0.1x | 1.22+0.8x | 1.26+0.8x | 1.39+0.8x | 0.67-5.6x |
| Debt-to-Equity | 1.13-0.2x | 3.20+1.9x | 3.24+2.0x | 3.13+1.2x | 1.29-0.5x | 1.27+1.2x | 1.27+0.3x | 1.96+1.5x |
| Asset Turnover | 0.090.0x | 0.090.0x | 0.090.0x | 0.080.0x | 0.060.0x | 0.060.0x | 0.070.0x | 0.07-0.6x |
| FCF Margin | -2.9%+4.8pp | 2.9%+4.2pp | -15.4%-7.8pp | -4.0%-2.5pp | -7.7%-11.0pp | -1.3%+0.4pp | -7.5%-3.8pp | -1.5%+7.1pp |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: The current ratio is below 1.0 (0.42), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where EchoStar Corporation Ranks
Frequently Asked Questions
What is EchoStar Corporation's annual revenue?
EchoStar Corporation (ECHO) reported $15.0B in total revenue for fiscal year 2025. This represents a -5.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is EchoStar Corporation's revenue growing?
EchoStar Corporation (ECHO) revenue declined by 5.2% year-over-year, from $15.8B to $15.0B in fiscal year 2025.
Is EchoStar Corporation profitable?
No, EchoStar Corporation (ECHO) reported a net income of -$51.9M in fiscal year 2025, with a net profit margin of -0.4%.
What is EchoStar Corporation's EBITDA?
EchoStar Corporation (ECHO) had EBITDA of -$16.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does EchoStar Corporation have?
As of fiscal year 2025, EchoStar Corporation (ECHO) had $1.9B in cash and equivalents against $18.7B in long-term debt.
What is EchoStar Corporation's gross margin?
EchoStar Corporation (ECHO) had a gross margin of 37.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is EchoStar Corporation's net profit margin?
EchoStar Corporation (ECHO) had a net profit margin of -0.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is EchoStar Corporation's return on equity (ROE)?
EchoStar Corporation (ECHO) has a return on equity of -0.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is EchoStar Corporation's free cash flow?
EchoStar Corporation (ECHO) recorded an outflow of $1.1B in free cash flow during fiscal year 2025. This represents a -264.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is EchoStar Corporation's operating cash flow?
EchoStar Corporation (ECHO) recorded an outflow of $99.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are EchoStar Corporation's total assets?
EchoStar Corporation (ECHO) had $43.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What are EchoStar Corporation's capital expenditures?
EchoStar Corporation (ECHO) invested $965.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does EchoStar Corporation spend on research and development?
EchoStar Corporation (ECHO) invested $68.0M in research and development during fiscal year 2025.
What is EchoStar Corporation's current ratio?
EchoStar Corporation (ECHO) had a current ratio of 0.42 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is EchoStar Corporation's debt-to-equity ratio?
EchoStar Corporation (ECHO) had a debt-to-equity ratio of 3.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is EchoStar Corporation's return on assets (ROA)?
EchoStar Corporation (ECHO) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is EchoStar Corporation's P/E ratio?
EchoStar Corporation (ECHO) trades at 3.1x earnings, its market capitalization divided by net income of $8.8B net income, trailing 12 months to June 30, 2026. The market capitalization is $27.6B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is EchoStar Corporation's price-to-sales ratio?
EchoStar Corporation (ECHO) trades at 1.9x sales, its market capitalization divided by revenue of $14.7B revenue, trailing 12 months to June 30, 2026. The market capitalization is $27.6B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is EchoStar Corporation's Altman Z-Score?
EchoStar Corporation (ECHO) has an Altman Z-Score of -0.86, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is EchoStar Corporation's Piotroski F-Score?
EchoStar Corporation (ECHO) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are EchoStar Corporation's earnings high quality?
EchoStar Corporation (ECHO) reported a net loss of $51.9M while operations used $99.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is EchoStar Corporation?
EchoStar Corporation (ECHO) scores 11 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.