What is the primary revenue source for EchoStar (SATS)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze SATS's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out EchoStar's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How EchoStar Makes Money: SATS Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Neutral

Revenue and operating profit showed little change or moved in different directions year over year, with no clear trend.

The largest revenue segment accounts for 92.18% of revenue, indicating concentration.

Revenue: USD 7.24B
Largest revenue segment share (Service revenue): 92.18%
Income tax expense: USD 1.31B
Selling, general and administrative: USD 1.19B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Income tax expenseIncome tax expense (benefit) · IncomeTaxExpenseBenefit
Largest revenue segment share (Service revenue)Service revenue · segment_value / revenue * 100
RevenueTotal revenue · RevenueFromContractWithCustomerExcludingAssessedTax
Selling, general and administrativeSelling, general and administrative expenses · SellingGeneralAndAdministrativeExpense

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Property, plant and equipment: USD 1.76B
Accounts receivable: USD 905.61M
Cash and cash equivalents: USD 439.99M
Total liabilities: USD 25.22B
Shareholder equity: USD 14.20B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Property, plant and equipmentProperty, plant and equipment, net. · PropertyPlantAndEquipmentNet
Shareholder equityStockholders' equity, including portion attributable to noncontrolling interest · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesLiabilities · Liabilities
Accounts receivableAccounts receivable, net, current · AccountsReceivableNetCurrent
Cash and cash equivalentsCash and cash equivalents · CashAndCashEquivalentsAtCarryingValue

Cash

Did accounting profit ultimately turn into cash?

Watch

Operating cash flow is positive, but profit-to-cash conversion is relatively weak.

Operating cash flow equals 2.75% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 8.32B
Operating cash flow: USD 228.32M
Cash conversion: 2.75%
Free cash flow: USD 2.59M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeProfitLoss - NetIncomeLossAttributableToNoncontrollingInterest
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

There was no material cash return; earnings stayed in the business without significant dilution.

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?