Stocks Industrials TSAT
NASDAQ · IndustrialsTelesat Corp (TSAT)
Telesat Corp reported revenue of CA$418M in fiscal 2025, down 26.8% from a year earlier. It posted a net loss of CA$155.4M. In fiscal 2025 capital spending exceeded operating cash flow by CA$73.8M. At December 31, 2025 it held CA$509.8M in cash against CA$3.5B of debt. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on March 17, 2026.
Key facts about Telesat Corp
- Net worth
- Telesat Corp has a market value (market cap) of $1.6B at the latest share price, and shareholders' equity of CA$530.8M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was CA$418M (-26.8% year on year), with a net loss of CA$155.4M.
- Cash flow
- In fiscal 2025 operations brought in CA$66.7M of cash; after CA$140.5M of capital spending, free cash flow was -CA$73.8M.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on March 17, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What Telesat Corp does
Telesat Corp is registered with the SEC under industry code SIC 4899 (Communications Services, NEC). Its shares trade on NASDAQ under the ticker TSAT.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | CA$418M | -CA$155.4M | -CA$10.61 | -CA$73.8M |
| 2024 | CA$571M | -CA$87.7M | -CA$6.29 | -CA$2.3M |
| 2023 | CA$704.2M | CA$157.1M | CA$11.29 | CA$127.1M |
| 2022 | CA$759.2M | -CA$23.8M | -CA$1.93 | CA$206.9M |
| 2021 | CA$758.2M | CA$92.5M | CA$1.99 | CA$261.8M |
| 2021 | CA$820.5M | CA$244.8M | CA$5.35 | CA$355.4M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where TSAT ranks in Industrials
Dividends
It paid out CA$10K in cash dividends, 0% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2021 | n/a | CA$10K | 0% |
| 2021 | n/a | CA$10K | 0% |
| 2019 | n/a | CA$20K | 0% |
Latest SEC filings
What Telesat Corp has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 29, 2026
- October 29, 2026
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 13, 2026
- August 13, 2026
- August 4, 2026
- July 9, 2026
- July 9, 2026Activist stake changed SCHEDULE 13D/A
- July 8, 2026
- June 5, 2026
Insider trades
What the people running Telesat Corp did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns TSAT
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Mark H. Rachesky, M.D.13D, may seek influence with 14 related filers | 35.5% | July 9, 2026 |
| GAMCO Asset Management Inc. I.D. No .13D, may seek influence with 7 related filers | 13.91% | September 26, 2024 |
| GAMCO Asset Management Inc.13D, may seek influence with 8 related filers | 11.6% | April 2, 2026 |
| Greywolf Opportunities Master Fund II LP13G, passive with 4 related filers | 6.2% | February 12, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 103 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Public Sector Pension Investment Board | 18,211,203 | 0 |
| Mhr Fund Management LLC | 18,035,092 | 0 |
| Gamco Investors, Inc. ET AL | 1,723,385 | -45,764 |
| Gabelli Funds LLC | 716,281 | +2,152 |
| Millennium Management LLC | 544,272 | +392,529 |
| Nexpoint Asset Management, L.P. | 396,623 | 0 |
| LM Asset Management Inc. | 266,350 | -116,300 |
| Morgan Stanley | 256,183 | +92,879 |
| PenderFund Capital Management Ltd. | 225,153 | -146,000 |
| Pembroke Management, LTD | 183,478 | +90,649 |
| Mackenzie Financial Corp | 118,830 | new |
| Osaic Holdings, Inc. | 156,844 | +19,809 |
| AYAL Capital Advisors Ltd | 151,500 | +3,500 |
| Senvest Management, LLC | 137,668 | 0 |
| Rokos Capital Management LLP | 137,737 | new |
| Guardian Capital LP | 107,029 | new |
| Connor, Clark & Lunn Investment Management Ltd. | 93,932 | -29,335 |
| CenterBook Partners LP | 71,500 | new |
| Quadrature Capital Ltd | 69,766 | +57,295 |
| K.J. Harrison & Partners Inc | 66,000 | -4,000 |
Insiders
Questions about TSAT
What does Telesat Corp do?
Telesat Corp is a company in the Industrials sector, listed on NASDAQ as TSAT. Its shares trade on NASDAQ under the ticker TSAT.
What is Telesat Corp's net worth?
Telesat Corp has a market value (market cap) of $1.6B at the latest share price, and shareholders' equity of CA$530.8M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Telesat Corp profitable?
No. In fiscal 2025 it reported a net loss of CA$155.4M on revenue of CA$418M.
How much revenue does Telesat Corp make?
In fiscal 2025 Telesat Corp reported revenue of CA$418M. That is 26.8% less than a year earlier.
When did Telesat Corp last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on March 17, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from October 29, 2026.
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Where the numbers come from
Financial figures are the values Telesat Corp tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.