Restructuring and cost reductionsnegative · 4 filings
“This change was primarily driven by no depreciation expense for the 5G Network assets impaired during the third quarter of 2025 .”10-Q · May 11, 2026 ↗
SATS
SATS
Market read
SATS's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 102 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 13 directly disclosed connections are confirming.
Company+8.3% todayVolume comparison unavailable
Market group0 of 102 activeBiotech and Gold · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- EchoStar says 2026 capital expenditures include costs for its Hybrid MNO network and subscriber premises equipment.
- Management identifies 2026 capital spending for the Hybrid MNO network and subscriber premises equipment as an ongoing requirement.
Invalidation: The isolated read changes if SATS's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 102 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 13 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- EchoStar says 2026 capital expenditures include costs for its Hybrid MNO network and subscriber premises equipment.
- Management identifies 2026 capital spending for the Hybrid MNO network and subscriber premises equipment as an ongoing requirement.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods4
Price observations555
Usable filing statements188
Verified relationships15
Evidence supporting the case
- Macroeconomic conditions has repeated favorable evidence across 3 filings.
- Pricing and mix has repeated favorable evidence across 3 filings.
Evidence challenging the case
- Latest annual revenue changed -5.2% year over year.
- Operating margin changed -116.2 percentage points in the latest annual period.
- Net margin changed -95.9 percentage points in the latest annual period.
- Diluted shares increased 4.9% in the latest annual period.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
Questions before a position
- EV/sales is 49% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Jul 17, 2026
92.036m-18.0%12m+193.5%24m+419.6%
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2016-12-31$1.8B———
2021-12-31$19.8B+994.7%$7.94—
2024-12-31$15.8B-20.1%$-0.44-12.5%
2025-12-31$15.0B-5.2%$-50.41+4.9%
What management says matters
Persistent and emerging business drivers
Capital investment and capacitynegative · 3 filings
“Certain of our capital expenditures for 2026 are expected to be driven by costs associated with our Hybrid MNO network and subscriber premises equipment.”10-Q · May 11, 2026 ↗
Macroeconomic conditionspositive · 3 filings
“We expect these costs to continue to increase due to contractual price increases and the renewal of long-term programming contracts on less favorable pricing terms and certain programming costs are rising at a much faster rate than wages or inflation.”10-Q · May 11, 2026 ↗
Pricing and mixmixed · 3 filings
“We expect these costs to continue to increase due to contractual price increases and the renewal of long-term programming contracts on less favorable pricing terms and certain programming costs are rising at a much faster rate than wages or inflation.”10-Q · May 11, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.8× · EV/sales 1.6×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
103.94+8.3% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 23 Jun, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SATS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for SATS. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind SATS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
GILTGilat Satellite Networks Ltd.competitorMay 11, 2026 ▾
“Our principal competitors for the supply of satellite technology platforms are Gilat Satellite Networks Ltd, ViaSat and ST Engineering iDirect, Inc.”
TAT&T Inc.competitorMay 11, 2026 ▾
“We compete with a number of national wireless carriers, including Verizon, AT&T and T-Mobile, all of which are significantly larger than us, serve a significant percentage of all wireless subscribers and enjoy scale advantages compared to us as the only natio…”
Depended on by
OPTUOptimum Communications, Inc.competitorMay 7, 2026 ▾
“Our competitors include Verizon Communications Inc., AT&T Inc., T-Mobile US, Inc., Charter Communications, Inc., Comcast Corporation, and emerging satellite-based broadband providers, as well as DirecTV, DISH Network (a wholly-owned subsidiary of EchoStar Cor…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SATS is currently a Follower in the organic co-movement group Biotech and Gold. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for SATS; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.