TSAT
Telesat Corporation
NasdaqGSUSDEQUITY
Technology
DELAYED
Last price
44.29
▼ 0.01 (0.02%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
Lower pane
Tool
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
44.87
Prev close
44.30
Day high
45.66
Day low
43.45
Volume
153.84K
Market cap
$2.28B
P/E (TTM)
—
52W range
19.83 – 61.54
Day trading desk
Gap from prior close
+1.29%
Prior close 44.30
VWAP
44.51
-0.50% from price
Relative volume
0.51×
Quiet session
Session range
5.09%
43.45 – 45.66
Position in range
38%
Mid range
ATR (14D)
5.02
11.33% of price
Prior day high
45.92
PDH
Prior day low
43.05
PDL
Bid / ask spread
—
Quote not published
Session volume
145.38K
Avg 283.53K
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
-12.54%
-11.2%
1M
+12.47%
+8.7%
3M
-15.09%
-18.2%
6M
+47.05%
+36.0%
YTD
+52.20%
+39.9%
1Y
+122.23%
+102.2%
3Y
+185.56%
+111.4%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Flagged1
Total notional$55.00K
Call notional$55.00K
Put notional$0
Tiltcall-weighted
Likely opening1 of 1
| Side | Strike | Expiry | Volume | Open int. | Vol / OI | Notional | IV | Score | |
|---|---|---|---|---|---|---|---|---|---|
| CALL | 80.00 | Oct 16, 26 54d |
250 | 109 | 2.3× | $55.00K | 112% | at ask | 63 |
How this is calculated, and what it cannot see
A contract is flagged when today's volume approaches or exceeds its open interest, the position is worth at least $40,000, and at least 150 contracts changed hands. Open interest is what was outstanding at yesterday's close, so volume above it means the flow cannot all be closing — something is being opened.
The score weights four things: volume against open interest, dollar notional, volume against the rest of that chain, and where the last print sat inside the bid/ask spread.
What it cannot see. Volume here is a daily total, so ten small orders and one large one are indistinguishable — this is not block or sweep detection, which needs exchange-level time and sales. The print column compares the last trade to the current quote, which is a proxy for who was the aggressor, not a tagged flag. Quotes are delayed. A single large trade can be a hedge, a roll, or one leg of a spread, and none of those mean what a naked directional bet would mean.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on TSAT open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
344.72K
Total on file
Fundamentals
Market cap$2.28B
Enterprise value$4.94B
Revenue (TTM)$361.65M
Gross profit$140.45M
EBITDA$134.81M
Net income$-372.09M
EPS (TTM)$-18.21
Free cash flow$659.53M
Total cash$383.24M
Total debt$3.84B
Book value / share$24.07
Shares outstanding15.11M
Float2.96M
Short % of float8.78%
Dividend yield—
Beta (5Y)2.03
Valuation & profitability ratios
Trailing P/E—
Forward P/E-6.08
PEG ratio—
Price / sales—
Price / book1.84
EV / revenue13.66
EV / EBITDA36.64
Gross margin38.83%
Operating margin-15.11%
Profit margin-102.89%
Return on equity-72.97%
Return on assets0.03%
Debt / equity324.07
Current ratio0.17
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $417.96M | $571.04M | $704.16M | $759.17M | -26.8% |
| Operating revenue | $417.96M | $571.04M | $704.16M | $759.17M | -26.8% |
| Cost of revenue | $22.73M | $37.97M | $38.52M | $54.00M | -40.1% |
| Gross profit | $395.23M | $533.07M | $665.65M | $705.16M | -25.9% |
| Selling, general & admin | $92.62M | $110.33M | $117.92M | $152.15M | -16.1% |
| Total operating expense | $337.94M | $308.41M | $17.12M | $408.72M | +9.6% |
| Operating income | $57.29M | $224.67M | $648.53M | $296.45M | -74.5% |
| Net interest income | -$193.87M | -$177.76M | -$206.51M | -$198.19M | -9.1% |
| Pre-tax income | -$597.60M | -$315.50M | $672.87M | -$30.19M | -89.4% |
| Tax provision | -$67.38M | -$13.04M | $89.60M | $51.41M | -416.8% |
| Net income | -$155.35M | -$87.72M | $157.12M | -$23.76M | -77.1% |
| Net income to common | -$155.35M | -$87.72M | $157.12M | -$23.76M | -77.1% |
| Basic EPS | -10.61 | -6.29 | 11.71 | -1.90 | -68.7% |
| Diluted EPS | -10.61 | -6.29 | 11.29 | -1.90 | -68.7% |
| EBIT | -$378.86M | -$71.60M | $943.82M | $191.57M | -429.2% |
| EBITDA | -$229.97M | $67.02M | $1.14B | $395.30M | -443.2% |
| Basic shares | 14.64M | 13.94M | 13.42M | 12.31M | +5.0% |
| Diluted shares | 14.64M | 13.94M | 15.29M | 12.31M | +5.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $509.80M | $552.06M | $1.67B | $1.68B | -7.7% |
| Cash & short-term investments | $510.23M | $552.63M | $1.67B | $1.68B | -7.7% |
| Accounts receivable | $30.56M | $48.27M | $47.56M | $29.25M | -36.7% |
| Inventory | $1.49M | $1.46M | $4.32M | $2.02M | +2.0% |
| Total current assets | $832.06M | $1.02B | $1.82B | $1.79B | -18.5% |
| Property, plant & equipment | $2.72B | $2.28B | $1.26B | $1.36B | +19.3% |
| Goodwill & intangibles | $2.66B | $3.11B | $3.14B | $3.20B | -14.6% |
| Total assets | $6.60B | $6.95B | $6.31B | $6.48B | -4.9% |
| Total current liabilities | $3.32B | $256.58M | $137.73M | $171.40M | +1,193.0% |
| Current debt | $2.34B | — | — | — | — |
| Long-term debt | $1.15B | $3.10B | $3.20B | $3.85B | -62.8% |
| Total debt | $3.53B | $3.13B | $3.23B | $3.88B | +12.9% |
| Total liabilities | $4.83B | $4.45B | $3.91B | $4.64B | +8.7% |
| Retained earnings | $330.81M | $467.33M | $534.06M | $356.27M | -29.2% |
| Shareholder equity | $530.82M | $710.28M | $661.92M | $481.44M | -25.3% |
| Working capital | -$2.49B | $764.69M | $1.68B | $1.62B | -425.0% |
| Net tangible assets | -$2.13B | -$2.40B | -$2.48B | -$2.72B | +11.4% |
| Shares issued | 14.84M | 14.19M | 13.61M | 12.81M | +4.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$530.22M | -$302.47M | $583.27M | -$81.60M | — | -75.3% |
| Depreciation & amortisation | $148.89M | $138.61M | $195.76M | $203.73M | — | +7.4% |
| Stock-based compensation | $4.14M | $17.56M | $33.02M | $67.43M | — | -76.4% |
| Change in working capital | $73.31M | -$45.12M | -$39.21M | -$6.74M | — | +262.5% |
| Operating cash flow | $66.70M | $62.46M | $170.06M | $239.55M | — | +6.8% |
| Capital expenditure | -$140.53M | -$64.86M | -$56.19M | -$32.77M | — | -116.7% |
| Investing cash flow | -$761.23M | -$1.09B | $212.05M | $11.70M | — | +30.3% |
| Dividends paid | — | — | $0 | $0 | -$10.00K | — |
| Financing cash flow | $672.36M | -$170.20M | -$355.74M | -$127.19M | — | +495.0% |
| Free cash flow | -$73.82M | -$2.39M | $113.87M | $206.78M | — | -2,986.2% |
| End cash position | $509.80M | $552.06M | $1.67B | $1.68B | — | -7.7% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $87.06M | $94.04M | $101.06M | $106.11M | $116.75M | -7.4% |
| Operating revenue | $87.06M | $94.04M | $101.06M | $106.11M | $116.75M | -7.4% |
| Cost of revenue | $8.63M | $6.89M | $4.77M | $4.34M | $6.72M | +25.2% |
| Gross profit | $78.43M | $87.15M | $96.29M | $101.76M | $110.03M | -10.0% |
| Selling, general & admin | $24.49M | $22.55M | $22.44M | $21.55M | $26.07M | +8.6% |
| Total operating expense | $77.45M | $80.48M | $90.56M | $83.77M | $85.90M | -3.8% |
| Operating income | $983.00K | $6.67M | $5.73M | $18.00M | $30.85M | -85.3% |
| Net interest income | -$45.81M | -$48.14M | -$48.48M | -$46.80M | -$50.46M | +4.8% |
| Pre-tax income | -$160.30M | -$488.48M | -$137.90M | $79.33M | -$50.54M | +67.2% |
| Tax provision | -$9.35M | -$55.27M | -$16.82M | $3.80M | $918.00K | +83.1% |
| Net income | -$45.49M | -$125.54M | -$35.27M | $21.00M | -$15.54M | +63.8% |
| Net income to common | -$45.49M | -$125.54M | -$35.27M | $21.00M | -$15.54M | +63.8% |
| Basic EPS | -2.99 | -8.48 | -2.38 | 1.43 | -1.08 | +64.7% |
| Diluted EPS | -2.99 | -8.48 | -2.38 | 1.38 | -1.08 | +64.7% |
| EBIT | -$109.84M | -$435.04M | -$83.44M | $133.23M | $6.13M | +74.8% |
| EBITDA | -$79.10M | -$397.99M | -$45.96M | $170.78M | $42.93M | +80.1% |
| Basic shares | 15.22M | 14.81M | 14.80M | 14.68M | 14.38M | +2.8% |
| Diluted shares | 15.22M | 14.81M | 14.80M | 16.56M | 14.38M | +2.8% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | YoY |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $522.73M | $509.80M | $482.61M | $547.39M | $797.37M | — | +2.5% |
| Cash & short-term investments | $523.15M | $510.23M | $483.05M | $547.80M | $798.06M | — | +2.5% |
| Accounts receivable | $58.82M | $30.56M | $53.19M | $50.85M | $62.30M | — | +92.5% |
| Inventory | — | $1.49M | — | — | — | $1.46M | — |
| Total current assets | $857.81M | $832.06M | $840.51M | $872.35M | $1.15B | — | +3.1% |
| Property, plant & equipment | $2.89B | $2.72B | $2.65B | $2.49B | $2.43B | — | +6.2% |
| Goodwill & intangibles | $2.59B | $2.66B | $3.01B | $2.97B | $3.10B | — | -2.4% |
| Total assets | $6.69B | $6.60B | $6.93B | $6.75B | $7.13B | — | +1.3% |
| Total current liabilities | $3.41B | $3.32B | $204.35M | $171.68M | $204.98M | — | +2.9% |
| Current debt | $2.37B | $2.34B | — | — | — | — | +1.4% |
| Long-term debt | $1.27B | $1.15B | $3.31B | $3.19B | $3.35B | — | +10.2% |
| Total debt | $3.64B | $3.53B | $3.31B | $3.19B | $3.35B | — | +3.1% |
| Total liabilities | $5.03B | $4.83B | $4.68B | $4.48B | $4.68B | — | +4.0% |
| Retained earnings | $284.70M | $330.81M | $452.13M | $487.34M | $456.69M | — | -13.9% |
| Shareholder equity | $519.01M | $530.82M | $667.02M | $676.26M | $708.62M | — | -2.2% |
| Working capital | -$2.56B | -$2.49B | $636.16M | $700.67M | $949.96M | — | -2.8% |
| Net tangible assets | -$2.07B | -$2.13B | -$2.34B | -$2.29B | -$2.39B | — | +2.4% |
| Shares issued | 15.22M | 14.84M | 14.80M | 14.80M | 14.48M | — | +2.5% |
| Line item | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$150.95M | -$433.21M | -$121.08M | $75.53M | -$51.46M | +65.2% |
| Depreciation & amortisation | $30.74M | $37.05M | $37.48M | $37.55M | $36.81M | -17.0% |
| Stock-based compensation | $3.13M | -$4.46M | $3.02M | $2.35M | $3.24M | +170.1% |
| Change in working capital | $12.75M | -$1.93M | -$33.61M | -$9.93M | $118.77M | +761.4% |
| Operating cash flow | $3.62M | -$30.21M | -$11.35M | -$30.67M | $138.92M | +112.0% |
| Capital expenditure | -$43.15M | -$40.25M | -$30.33M | -$35.20M | -$34.74M | -7.2% |
| Investing cash flow | -$118.56M | -$221.31M | -$127.20M | -$182.16M | -$230.56M | +46.4% |
| Financing cash flow | $120.38M | $283.88M | $64.06M | -$8.09M | $332.51M | -57.6% |
| Free cash flow | -$39.52M | -$70.45M | -$41.68M | -$65.87M | $104.18M | +43.9% |
| End cash position | $522.73M | $509.80M | $482.61M | $547.39M | $797.37M | +2.5% |
Options analytics
Put / call volume
0.49
Call-heavy session
Put / call open interest
1.91
Positioning, not flow
Max pain
45.00
+1.6% from spot
ATM implied vol
72.2%
Nearest strike to spot
Skew (10% OTM)
-3.6%
Calls bid over puts
Call volume
59
Contracts, this expiry
Put volume
29
Contracts, this expiry
Heaviest call OI
55.00
106 contracts
Heaviest put OI
40.00
271 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | — | — | $77.17M | -23.6% |
| Next quarter | — | — | $74.89M | -20.4% |
| Current year | — | — | $318.18M | -23.9% |
| Next year | — | — | $275.23M | -13.5% |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
ConsensusNONE
Strong buy / Buy— / —
Hold—
Sell / Strong sell— / —
Held by insiders2.27%
Held by institutions50.50%
Institutions holding125
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
51.34
-13.74% from price
SMA 20
47.82
-7.39% from price
SMA 50
44.89
-1.33% from price
SMA 100
46.83
-5.43% from price
SMA 200
38.57
+14.83% from price
EMA 12
48.43
-8.54% from price
EMA 26
47.33
-6.43% from price
EMA 50
46.28
-4.31% from price
RSI (14)
45.4
Neutral
MACD (12,26,9)
1.09
Hist -1.06
ATR (14)
5.02
11.33% of price
Realised vol 30D
123.7%
Annualised
Bollinger upper
64.35
20, 2σ
Bollinger lower
31.30
20, 2σ
50 / 200 cross
Golden
44.89 vs 38.57
Trend bias
Above 200
+14.83%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
3.36
More volatile than market
Correlation to SPY
0.46
Loosely linked
Realised vol 30D
123.7%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-41.2%
Peak to trough
Max drawdown 5Y
-88.8%
Peak to trough
ATR 14
5.02
11.33% of price
Beta (reported)
2.03
5Y monthly, from filing
Short interest
Shares short
1.22M
Prior 1.07M
Change vs prior
+13.7%
Shorts adding
% of float
8.78%
Normal
% of shares out
8.00%
Against total outstanding
Days to cover
5.9
Crowded exit
Float
2.96M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Mar 19, 26 | Deutsche Bank | MAINTAINED | Hold | Hold |
| Apr 30, 24 | Deutsche Bank | INITIATED | — | Hold |
SEC filings
Corporate Changes & Voting Matters
6-K · 2026-08-13
Corporate Changes & Voting Matters
6-K · 2026-08-04
Corporate Changes & Voting Matters
6-K · 2026-07-09
Corporate Changes & Voting Matters
6-K · 2026-07-08
Corporate Changes & Voting Matters
6-K · 2026-06-05
Corporate Changes & Voting Matters
6-K · 2026-05-05
Corporate Changes & Voting Matters
6-K · 2026-04-28
Periodic Financial Reports
20-F · 2026-03-17
Headlines
Telesat (TSAT) Q2 2026 Earnings Call Transcript
Motley Fool · 3d ago
Telesat: Q2 Earnings Snapshot
Associated Press · 9d ago
Telesat Q2 Earnings Call Highlights
MarketBeat · 10d ago
Telesat Corporation Q2 2026 Earnings Call Summary
Moby · 10d ago
Telesat Down 6.4% Premarket as It Swings to a Second-Quarter Loss, Revenue Falls
MT Newswires · 10d ago
Telesat Swings to Q2 Loss; Revenue Falls
MT Newswires · 10d ago
Telesat reports results for the three and six months ended June 30, 2026
GlobeNewswire · 10d ago
Telesat (TSAT) Could Be Deeply Undervalued On Its C$2.3b Lightspeed Deal
Simply Wall St. · 16d ago
PRIVATE STRATEGY · BY QUALIFICATION
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