Communication Services · Wireless Telecommunication Services · US stock · price as of 22 Oct 2026
Key indicators
Price
$85.79
52-week range
$65.76 – $147.25
Market cap
$30.2B
P/E (trailing)
3.0×
EV / EBITDA
–
Free-cash-flow yield
−2.4%
Dividend yield
–
Revenue (last 12 months)
$14.7B
Revenue growth (3y a year)
−7.0%
Operating margin
−112.7%
Return on invested capital
−41.8%
Net debt / EBITDA
–
Fair value
Fair value (average of valid models)$62.17 middle half of models $52 – $70
Versus priceOvervalued−28% to fair value
P/E multiple
$85.17
P/B multiple
$64.93
P/S multiple
$53.71
EV/revenue multiple
$44.88
Model uncertainty
Medium
X-Ray Score
11/ 100 · Medium confidence · ahead of 0% of sector peers
Valuation12
Growth3
Profitability3
Financial health27
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
EchoStar is a communications company with satellite, pay television and wireless operations. Its businesses include Hughes satellite broadband, DISH and Sling pay television, and Boost Mobile wireless service. It also develops satellite and mobile network technology. Customers are consumers, businesses, government agencies and enterprises that need connectivity in places terrestrial networks do not reach.
Monthly subscriptions for television, broadband and mobile service, together with equipment and network services, generated revenue of $14.7 billion over the last twelve months. Revenue has changed at -7.0% a year across the last three years. The operating margin is -112.7%, a large operating loss, and the business earns -42% on the capital invested in it. No dividend is paid.
StocksXray gives EchoStar CORP an X-Ray Score of 11 out of 100 (medium confidence), ahead of 0% of the S&P 500 stocks in its sector. Its strongest lens is financial health (27) and its weakest is growth (3).
Our fair value (the average of the valid models) is $62.17 (range $51.50 to $69.99). At $85.79 the stock trades 38% above that value, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
EchoStar CORP (ECHO)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$26.35
$16.68
$16.57
$22.90
$108.70
$85.79
Market cap
$8.3B
$5.1B
$4.5B
$6.3B
$31.3B
$30.2B
P/E
3.3×
2.1×
–
–
–
3.0×
EV / revenue
0.4×
0.2×
1.5×
1.7×
3.6×
3.2×
EV / EBITDA
1.8×
1.2×
18.8×
16.8×
–
–
Price / free cash flow
2.7×
9.0×
–
–
–
–
Free-cash-flow yield
36.8%
11.1%
−14.9%
−4.7%
−3.4%
−2.4%
Price / book
2.5×
0.2×
0.2×
0.3×
5.4×
2.1×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 1 Good · ● 0 Average · ● 10 Bad · each check graded against the sector
Cash quality
Earnings backed by cash22.5%Bad
Free-cash-flow yield−2.4%Bad
Risk models
Altman Z score0.9×Bad
Piotroski F-Score2 of 9Bad
Growth
Revenue growth (3y)−7.0%Bad
Growth consistency0%Bad
Balance sheet
Current ratio5.2×Good
Valuation
Fair value vs price0.7×Bad
EBIT / EV yield−34.9%Bad
Profitability
Return on invested capital−41.8%Bad
Operating margin−112.7%Bad
XStocksXray
EchoStar CORP (ECHO)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
19,819
18,634
17,016
15,826
15,005
14,654
Gross profit
–
–
–
–
–
–
Operating income
3,422
2,233
-278
-304
-17,723
-16,516
Net income
63
167
-496
-125
-52
8,774
Diluted EPS ($)
7.94
8.05
-6.28
-0.44
-50.41
28.85
Free cash flow
3,036
571
-668
-292
-1,065
-725
Gross margin
–
–
–
–
–
–
Operating margin
17.3%
12.0%
−1.6%
−1.9%
−118.1%
−112.7%
Net margin
0.3%
0.9%
−2.9%
−0.8%
−0.3%
59.9%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
6,045
58,748
57,109
60,939
43,016
39,425
Cash
536
2,498
1,821
4,305
1,883
440
Total debt
1,496
3,049
22,764
26,603
25,980
17,432
Equity
3,354
21,488
19,880
20,191
5,766
14,155
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
