TSAT Fundamental Analysis - TELESAT CORP

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to TSAT. TSAT was compared to 35 industry peers in the Diversified Telecommunication Services industry. Both the profitability and the financial health of TSAT get a neutral evaluation. Nothing too spectacular is happening here. TSAT does not seem to be growing, but still is valued expensively.

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1. Profitability

1.1 Basic Checks

In the past year TSAT has reported negative net income.

TSAT had a positive operating cash flow in the past year.

The reported net income has been mixed in the past 5 years: TSAT reported negative net income in multiple years.

In the past 5 years TSAT always reported a positive cash flow from operatings.

1.2 Ratios

TSAT has a Return On Assets of -1.52%. This is comparable to the rest of the industry: TSAT outperforms 42.86% of its industry peers.

TSAT has a Return On Equity of -15.22%. This is in the lower half of the industry: TSAT underperforms 71.43% of its industry peers.

Looking at the Return On Invested Capital, with a value of 1.87%, TSAT is in line with its industry, outperforming 45.71% of the companies in the same industry.

The Average Return On Invested Capital over the past 3 years for TSAT is below the industry average of 6.32%.

		Industry Rank	Sector Rank
ROA	-1.52%
ROE	-15.22%
ROIC	1.87%

ROA(3y)0.29%

ROA(5y)1.38%

ROE(3y)2.17%

ROE(5y)9.65%

ROIC(3y)3.76%

ROIC(5y)4.41%

1.3 Margins

The Operating Margin of TSAT (29.03%) is better than 94.29% of its industry peers.

In the last couple of years the Operating Margin of TSAT has declined.

TSAT has a better Gross Margin (94.43%) than 100.00% of its industry peers.

In the last couple of years the Gross Margin of TSAT has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	29.03%
PM (TTM)	N/A
GM	94.43%

OM growth 3Y-0.65%

OM growth 5Y-5.65%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-0.93%

GM growth 5Y-0.54%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so TSAT is destroying value.

The number of shares outstanding for TSAT has been increased compared to 1 year ago.

TSAT has less shares outstanding than it did 5 years ago.

TSAT has a better debt/assets ratio than last year.

2.2 Solvency

TSAT has an Altman-Z score of 0.56. This is a bad value and indicates that TSAT is not financially healthy and even has some risk of bankruptcy.

TSAT's Altman-Z score of 0.56 is on the low side compared to the rest of the industry. TSAT is outperformed by 65.71% of its industry peers.

A Debt/Equity ratio of 4.71 is on the high side and indicates that TSAT has dependencies on debt financing.

TSAT's Debt to Equity ratio of 4.71 is on the low side compared to the rest of the industry. TSAT is outperformed by 80.00% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	4.71
Debt/FCF	N/A
Altman-Z	0.56

ROIC/WACC0.32

WACC5.77%

2.3 Liquidity

A Current Ratio of 5.08 indicates that TSAT has no problem at all paying its short term obligations.

TSAT's Current ratio of 5.08 is amongst the best of the industry. TSAT outperforms 97.14% of its industry peers.

TSAT has a Quick Ratio of 5.08. This indicates that TSAT is financially healthy and has no problem in meeting its short term obligations.

With an excellent Quick ratio value of 5.08, TSAT belongs to the best of the industry, outperforming 97.14% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	5.08
Quick Ratio	5.08

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

The earnings per share for TSAT have decreased strongly by -34.84% in the last year.

Looking at the last year, TSAT shows a very negative growth in Revenue. The Revenue has decreased by -24.21% in the last year.

Measured over the past years, TSAT shows a decrease in Revenue. The Revenue has been decreasing by -8.92% on average per year.

EPS 1Y (TTM)-34.84%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-65.31%

Revenue 1Y (TTM)-24.21%

Revenue growth 3Y-9.02%

Revenue growth 5Y-8.92%

Sales Q2Q%-30.39%

3.2 Future

Based on estimates for the next years, TSAT will show a very negative growth in Earnings Per Share. The EPS will decrease by -25.06% on average per year.

Based on estimates for the next years, TSAT will show a quite strong growth in Revenue. The Revenue will grow by 15.49% on average per year.

EPS Next Y-17.42%

EPS Next 2Y-54.85%

EPS Next 3Y-25.06%

EPS Next 5YN/A

Revenue Next Year-26.26%

Revenue Next 2Y-20.55%

Revenue Next 3Y-7.09%

Revenue Next 5Y15.49%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for TSAT. In the last year negative earnings were reported.

Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for TSAT. No positive earnings are expected for the next year.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

TSAT's Enterprise Value to EBITDA ratio is in line with the industry average.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	15.41

4.3 Compensation for Growth

A cheap valuation may be justified as TSAT's earnings are expected to decrease with -25.06% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y-54.85%

EPS Next 3Y-25.06%

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5. Dividend

5.1 Amount

No dividends for TSAT!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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TELESAT CORP

NASDAQ:TSAT (9/18/2025, 8:00:01 PM)

24.31

-1.03 (-4.06%)

Chartmill FA Rating

GICS SectorCommunication Services

GICS IndustryGroupTelecommunication Services

GICS IndustryDiversified Telecommunication Services

Earnings (Last)08-06 2025-08-06/bmo

Earnings (Next)11-12 2025-11-12

Inst Owners56.89%

Inst Owner Change-0.16%

Ins Owners5.98%

Ins Owner Change0%

Market Cap1.24B

Analysts80

Price Target32.13 (32.17%)

Short Float %5.57%

Short Ratio7.23

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DP0%

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)2

Avg EPS beat(2)162.74%

Min EPS beat(2)139.87%

Max EPS beat(2)185.61%

EPS beat(4)3

Avg EPS beat(4)148.14%

Min EPS beat(4)-110.16%

Max EPS beat(4)377.21%

EPS beat(8)N/A

Avg EPS beat(8)N/A

EPS beat(12)N/A

Avg EPS beat(12)N/A

EPS beat(16)N/A

Avg EPS beat(16)N/A

Revenue beat(2)1

Avg Revenue beat(2)-0.7%

Min Revenue beat(2)-5.43%

Max Revenue beat(2)4.03%

Revenue beat(4)2

Avg Revenue beat(4)0.42%

Min Revenue beat(4)-5.43%

Max Revenue beat(4)4.03%

Revenue beat(8)N/A

Avg Revenue beat(8)N/A

Revenue beat(12)N/A

Avg Revenue beat(12)N/A

Revenue beat(16)N/A

Avg Revenue beat(16)N/A

PT rev (1m)0%

PT rev (3m)0%

EPS NQ rev (1m)-37.34%

EPS NQ rev (3m)-37.34%

EPS NY rev (1m)25.44%

EPS NY rev (3m)11.97%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)1.03%

Revenue NY rev (1m)-0.38%

Revenue NY rev (3m)-0.38%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	3.5
P/FCF	N/A
P/OCF	16.41
P/B	2.53
P/tB	N/A
EV/EBITDA	15.41

EPS(TTM)-3.44

EYN/A

EPS(NY)-9.5

Fwd EYN/A

FCF(TTM)-17.09

FCFYN/A

OCF(TTM)1.48

OCFY6.09%

SpS6.95

BVpS9.6

TBVpS-32.58

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-1.52%
ROE	-15.22%
ROCE	2.16%
ROIC	1.87%
ROICexc	2.04%
ROICexgc	4.02%
OM	29.03%
PM (TTM)	N/A
GM	94.43%
FCFM	N/A

ROA(3y)0.29%

ROA(5y)1.38%

ROE(3y)2.17%

ROE(5y)9.65%

ROIC(3y)3.76%

ROIC(5y)4.41%

ROICexc(3y)4.87%

ROICexc(5y)5.57%

ROICexgc(3y)14.76%

ROICexgc(5y)17.44%

ROCE(3y)4.34%

ROCE(5y)5.08%

ROICexcg growth 3Y-28.13%

ROICexcg growth 5Y-25.47%

ROICexc growth 3Y-17.12%

ROICexc growth 5Y-18.41%

OM growth 3Y-0.65%

OM growth 5Y-5.65%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-0.93%

GM growth 5Y-0.54%

F-Score3

Asset Turnover0.07

Health

		Industry Rank	Sector Rank
Debt/Equity	4.71
Debt/FCF	N/A
Debt/EBITDA	11.33
Cap/Depr	938.76%
Cap/Sales	267.27%
Interest Coverage	0.8
Cash Conversion	37.08%
Profit Quality	N/A
Current Ratio	5.08
Quick Ratio	5.08
Altman-Z	0.56

F-Score3

WACC5.77%

ROIC/WACC0.32

Cap/Depr(3y)301.38%

Cap/Depr(5y)217.49%

Cap/Sales(3y)74.26%

Cap/Sales(5y)55.15%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-34.84%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-65.31%

EPS Next Y-17.42%

EPS Next 2Y-54.85%

EPS Next 3Y-25.06%

EPS Next 5YN/A

Revenue 1Y (TTM)-24.21%

Revenue growth 3Y-9.02%

Revenue growth 5Y-8.92%

Sales Q2Q%-30.39%

Revenue Next Year-26.26%

Revenue Next 2Y-20.55%

Revenue Next 3Y-7.09%

Revenue Next 5Y15.49%

EBIT growth 1Y-47.95%

EBIT growth 3Y-9.61%

EBIT growth 5Y-14.06%

EBIT Next Year-11.36%

EBIT Next 3Y-3.2%

EBIT Next 5Y26.1%

FCF growth 1Y-834.22%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y-60.17%

OCF growth 3Y-40.49%

OCF growth 5Y-30.15%

TELESAT CORP (TSAT) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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