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Telesat Corp (TSAT) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · COMMUNICATION EQUIPMENT · DATA UPDATED 2026-09-06

Telesat Corp (TSAT) operates in the COMMUNICATION EQUIPMENT industry and is headquartered in Ottawa, Canada with about 711 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2025-12-31, TSAT reported C$418M in revenue and (C$155M) in net income.

Telesat Corporation, a satellite operator, provides mission-critical communications solutions to support the requirements of satellite users in Canada, the United States, Asia, Australia, Latin America, the Caribbean, Europe, the Middle East, and Africa.

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TSAT Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Total Revenue	C$362M	C$418M	C$571M	C$704M	C$759M	C$758M	C$820M	C$911M	C$903M	C$927M	C$931M	C$955M	C$923M	C$897M	C$846M
Gross Profit	C$165M	C$154M	C$533M	C$666M	C$705M	C$728M	C$787M	C$874M	C$514M	C$740M	C$756M	C$771M	C$735M	C$703M	C$607M
Gross Margin %	45.6%	36.8%	93.3%	94.5%	92.9%	96.0%	95.9%	95.9%	56.9%	79.8%	81.2%	80.7%	79.7%	78.4%	71.7%
Operating Income (EBIT)	C$3M	C$57M	(C$40M)	C$569M	C$296M	C$409M	C$405M	C$478M	C$468M	C$486M	C$496M	C$529M	C$482M	C$445M	C$348M
Operating Margin %	0.8%	13.7%	-7.0%	80.8%	39.1%	54.0%	49.3%	52.5%	51.8%	52.4%	53.3%	55.4%	52.3%	49.6%	41.1%
Net Income	(C$372M)	(C$155M)	(C$88M)	C$157M	(C$24M)	C$93M	C$245M	C$187M	(C$91M)	C$505M	C$293M	(C$267M)	C$13M	C$68M	C$24M
Net Margin %	-102.9%	-37.2%	-15.4%	22.3%	-3.1%	12.2%	29.8%	20.5%	-10.1%	54.5%	31.5%	-28.0%	1.4%	7.6%	2.9%
EBITDA	(C$505M)	(C$230M)	C$67M	C$1.1B	C$395M	C$641M	C$678M	C$740M	C$711M	C$733M	C$749M	C$764M	C$730M	C$688M	C$593M
Earnings Per Share (EPS)	C$-24.78	C$-10.60	C$-6.29	C$10.28	C$-1.93	C$7.70	C$18.57	C$7.82	C$-3.80	C$21.10	C$12.24	C$-11.17	C$0.55	C$2.85	C$1.02
Shares Outstanding (M)	15M	15M	14M	15M	12M	12M	13M	24M	24M	24M	24M	24M	24M	24M	24M

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TSAT Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	C$80M	C$87M	C$94M	C$101M	C$106M	C$117M	C$128M	C$138M
Gross Profit	C$18M	C$23M	C$28M	C$96M	C$102M	C$110M	C$118M	C$132M
Gross Margin %	22.7%	26.7%	29.3%	95.3%	95.9%	94.2%	92.2%	95.5%
Operating Income (EBIT)	(C$13M)	C$3M	C$7M	C$6M	C$18M	C$31M	(C$228M)	C$60M
Operating Margin %	-16.0%	3.5%	7.1%	5.9%	16.8%	26.4%	-177.8%	43.1%
Net Income	(C$166M)	(C$46M)	(C$125M)	(C$35M)	C$21M	(C$16M)	(C$126M)	C$18M
Net Margin %	-208.6%	-52.3%	-133.5%	-34.9%	19.8%	-13.3%	-98.7%	12.9%
EBITDA	C$18M	(C$80M)	(C$398M)	(C$46M)	C$171M	C$43M	(C$413M)	C$168M
Earnings Per Share (EPS)	C$-10.90	C$-3.05	C$-8.45	C$-2.38	C$1.27	C$-1.08	C$-8.97	C$1.11
Shares Outstanding (M)	15M	15M	15M	15M	17M	14M	14M	16M

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TSAT Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Cash from Operations (CFO)	(C$113M)	C$67M	C$62M	C$170M	C$229M	C$296M	C$372M	C$376M	C$466M	C$487M	C$527M	C$422M	C$412M	C$481M	C$300M
Capital Expenditures (CapEx)	C$625M	C$764M	C$65M	C$56M	C$65M	C$36M	C$16M	C$36M	C$103M	C$147M	C$244M	C$194M	C$95M	C$80M	C$170M
Free Cash Flow (FCF)	(C$738M)	(C$698M)	(C$2M)	C$114M	C$164M	C$261M	C$355M	C$340M	C$363M	C$340M	C$284M	C$229M	C$317M	C$401M	C$130M
FCF Margin %	-204.1%	-167.1%	-0.4%	16.2%	21.6%	34.4%	43.3%	37.3%	40.2%	36.7%	30.5%	23.9%	34.3%	44.7%	15.3%
Dividends Paid	—	—	—	C$0M	C$0M	C$0M	C$0M	C$0M	C$0M	C$0M	C$0M	C$0M	C$0M	C$0M	—

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TSAT Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	(C$76M)	C$4M	(C$30M)	(C$11M)	(C$31M)	C$139M	(C$2M)	(C$2M)
Capital Expenditures (CapEx)	C$159M	C$118M	C$220M	C$127M	C$35M	C$35M	C$17M	C$16M
Free Cash Flow (FCF)	(C$235M)	(C$114M)	(C$250M)	(C$139M)	(C$66M)	C$104M	(C$19M)	(C$18M)
FCF Margin %	-295.2%	-131.0%	-266.5%	-137.3%	-62.1%	89.2%	-14.5%	-13.3%

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

TSAT Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31
Total Assets	C$6.8B	C$6.6B	C$6.9B	C$6.3B	C$6.5B	C$6.4B	C$4.4B	C$4.6B	C$5.9B	C$5.7B	C$6.1B	C$6.0B	C$5.7B	C$5.7B	C$5.8B
Cash & Cash Equivalents	C$383M	C$494M	C$552M	C$1.7B	C$1.7B	C$1.4B	C$540M	C$418M	C$768M	C$479M	C$782M	C$691M	C$497M	C$299M	C$181M
Total Liabilities	C$5.6B	C$4.8B	C$4.4B	C$3.9B	C$4.6B	C$4.7B	C$3.2B	C$3.6B	C$4.8B	C$4.6B	C$4.9B	C$5.1B	C$4.6B	C$4.6B	C$4.8B
Total Debt (Short + Long-Term)	C$3.8B	C$3.5B	C$3.1B	C$3.2B	C$3.9B	C$3.8B	C$3.2B	C$20M	C$8M	C$14M	C$23M	C$94M	C$70M	C$89M	C$0M
Total Shareholders' Equity	C$377M	C$530M	C$710M	C$662M	C$481M	C$416M	C$1.1B	C$960M	C$1.1B	C$1.1B	C$1.2B	C$918M	C$1.1B	C$1.1B	C$1.0B

CAD; C$M / C$B as marked (reporting currency). Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive TSAT viewer.

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