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EchoStar vs Globalstar: revenue, profit, margins and growth compared

EchoStar brought in $15B of revenue in fiscal 2025, Globalstar $273M in fiscal 2025. Revenue changed by -5.2% at EchoStar and +9.0% at Globalstar on the year before, so Globalstar grew faster. EchoStar kept -96.6% of its revenue as net profit, Globalstar -3.2%.

Side by side, latest fiscal year

ECHOGSAT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$15B$273M
Revenue growth-5.2%+9.0%
Net income-$14.5B-$8.7M
Net margin-96.6%-3.2%
Free cash flow-$1.1Bn/a
Free cash flow margin-7.1%n/a
Earnings per share (diluted)-$50.41-$0.15
Cash$1.9B$447.5M
Debt$26B$483.8M
Price to earningsn/an/a
Market value$26.2B$10.7B
Dividend yieldn/an/a
Rank by revenue in sector#89 of 778 · Consumer discretionary#628 of 778 · Consumer discretionary

Over the years

Revenue
ECHO FY2018: $1.8BECHO FY2019: $1.9BECHO FY2020: $1.9BECHO FY2021: $19.8BECHO FY2022: $18.6BECHO FY2023: $17BECHO FY2024: $15.8BECHO FY2025: $15BGSAT FY2018: $130.1MGSAT FY2019: $131.7MGSAT FY2020: $128.5MGSAT FY2021: $124.3MGSAT FY2022: $148.5MGSAT FY2023: $223.8MGSAT FY2024: $250.3MGSAT FY2025: $273MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO $15BGSAT $273M
Net income
ECHO FY2018: -$40.5MECHO FY2019: -$62.9MECHO FY2020: -$40.2MECHO FY2021: $2.5BECHO FY2022: $2.5BECHO FY2023: -$1.7BECHO FY2024: -$119.5MECHO FY2025: -$14.5BGSAT FY2018: -$6.5MGSAT FY2019: $15.3MGSAT FY2020: -$109.6MGSAT FY2021: -$112.6MGSAT FY2022: -$256.9MGSAT FY2023: -$24.7MGSAT FY2024: -$63.2MGSAT FY2025: -$8.7MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO -$14.5BGSAT -$8.7M
Net margin
ECHO FY2018: -2.3%ECHO FY2019: -3.3%ECHO FY2020: -2.1%ECHO FY2021: 12.5%ECHO FY2022: 13.3%ECHO FY2023: -10.0%ECHO FY2024: -0.8%ECHO FY2025: -96.6%GSAT FY2018: -5.0%GSAT FY2019: 11.6%GSAT FY2020: -85.3%GSAT FY2021: -90.6%GSAT FY2022: -173.0%GSAT FY2023: -11.0%GSAT FY2024: -25.2%GSAT FY2025: -3.2%FY18FY19FY20FY21FY22FY23FY24FY25
ECHO -96.6%GSAT -3.2%
Revenue growth
ECHO FY2019: +7.0%ECHO FY2020: +0.1%ECHO FY2021: +949.8%ECHO FY2022: -6.0%ECHO FY2023: -8.7%ECHO FY2024: -7.0%ECHO FY2025: -5.2%GSAT FY2019: +1.2%GSAT FY2020: -2.5%GSAT FY2021: -3.3%GSAT FY2022: +19.5%GSAT FY2023: +50.7%GSAT FY2024: +11.9%GSAT FY2025: +9.0%FY19FY20FY21FY22FY23FY24FY25
ECHO -5.2%GSAT +9.0%
Free cash flow
ECHO FY2018: $179.4MECHO FY2019: $237.7MECHO FY2020: $125.6MECHO FY2021: $3BECHO FY2022: $570.7MECHO FY2023: -$668.3MECHO FY2024: -$292.2MECHO FY2025: -$1.1BGSAT FY2018: -$1.4MGSAT FY2019: -$1.5MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO -$1.1BGSAT -$1.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about EchoStar and Globalstar

Which is bigger by revenue, EchoStar or Globalstar?

EchoStar is bigger by revenue: $15B in fiscal 2025, against $273M for Globalstar in fiscal 2025.

Which keeps more of its revenue as profit, EchoStar or Globalstar?

EchoStar had a net margin of -96.6% in fiscal 2025; Globalstar had -3.2% in fiscal 2025.

Which grew revenue faster, EchoStar or Globalstar?

In their latest fiscal years revenue changed by -5.2% at EchoStar and +9.0% at Globalstar.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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