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EchoStar vs Iridium Communications: revenue, profit, margins and growth compared

EchoStar brought in $15B of revenue in fiscal 2025, Iridium Communications $871.7M in fiscal 2025. Revenue changed by -5.2% at EchoStar and +4.9% at Iridium Communications on the year before, so Iridium Communications grew faster. EchoStar kept -96.6% of its revenue as net profit, Iridium Communications 13.1%. Free cash flow was -$1.1B at EchoStar and $299.8M at Iridium Communications.

Side by side, latest fiscal year

ECHOIRDM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$15B$871.7M
Revenue growth-5.2%+4.9%
Net income-$14.5B$114.4M
Net margin-96.6%13.1%
Free cash flow-$1.1B$299.8M
Free cash flow margin-7.1%34.4%
Earnings per share (diluted)-$50.41$1.06
Cash$1.9B$96.5M
Debt$26B$1.8B
Price to earningsn/a46.0
Market value$26.2B$5.2B
Dividend yieldn/an/a
Rank by revenue in sector#89 of 778 · Consumer discretionary#485 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: $15BIRDM FY2018: $523MIRDM FY2019: $560.4MIRDM FY2020: $583.4MIRDM FY2021: $614.5MIRDM FY2022: $721MIRDM FY2023: $790.7MIRDM FY2024: $830.7MIRDM FY2025: $871.7MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO $15BIRDM $871.7M
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: -$14.5BIRDM FY2018: -$13.4MIRDM FY2019: -$162MIRDM FY2020: -$56.1MIRDM FY2021: -$9.3MIRDM FY2022: $8.7MIRDM FY2023: $15.4MIRDM FY2024: $112.8MIRDM FY2025: $114.4MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO -$14.5BIRDM $114.4M
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%IRDM FY2018: -2.6%IRDM FY2019: -28.9%IRDM FY2020: -9.6%IRDM FY2021: -1.5%IRDM FY2022: 1.2%IRDM FY2023: 1.9%IRDM FY2024: 13.6%IRDM FY2025: 13.1%FY18FY19FY20FY21FY22FY23FY24FY25
ECHO -96.6%IRDM 13.1%
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%IRDM FY2019: +7.2%IRDM FY2020: +4.1%IRDM FY2021: +5.3%IRDM FY2022: +17.3%IRDM FY2023: +9.7%IRDM FY2024: +5.1%IRDM FY2025: +4.9%FY19FY20FY21FY22FY23FY24FY25
ECHO -5.2%IRDM +4.9%
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: -$1.1BIRDM FY2018: -$127.7MIRDM FY2019: $80.3MIRDM FY2020: $211.1MIRDM FY2021: $260.7MIRDM FY2022: $273.5MIRDM FY2023: $241.4MIRDM FY2024: $306.1MIRDM FY2025: $299.8MFY18FY19FY20FY21FY22FY23FY24FY25
ECHO -$1.1BIRDM $299.8M

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

Questions about EchoStar and Iridium Communications

Which is bigger by revenue, EchoStar or Iridium Communications?

EchoStar is bigger by revenue: $15B in fiscal 2025, against $871.7M for Iridium Communications in fiscal 2025.

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

EchoStar had a net margin of -96.6% in fiscal 2025; Iridium Communications had 13.1% in fiscal 2025.

Which grew revenue faster, EchoStar or Iridium Communications?

In their latest fiscal years revenue changed by -5.2% at EchoStar and +4.9% at Iridium Communications.

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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