Latest Ratios: P/E Ratio -534.1x · EV/EBITDA 102.1x · ROE -2.4%. (2004–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $10.3B | $7.7B | $3.9B | $5.3B | $3.6B | $3.1B | $834M | $1.3B | $1.2B | $2.3B | $2.5B |
| Enterprise Value | $10.4B | $7.8B | $4.1B | $5.7B | $3.8B | $3.3B | $1.2B | $1.8B | $1.7B | $2.8B | $3.1B |
| P/E Ratio → | -534.07 | — | — | — | — | — | — | 836.56 | — | — | — |
| P/S Ratio | 37.79 | 28.34 | 15.61 | 23.86 | 24.19 | 24.71 | 6.49 | 9.78 | 9.37 | 20.35 | 26.04 |
| P/B Ratio | 28.55 | 21.75 | 10.89 | 14.09 | 11.41 | 8.40 | 1.97 | 3.16 | 3.40 | 7.87 | 15.59 |
| P/FCF | 134.36 | 100.76 | 21.88 | — | 150.65 | 35.57 | 108.65 | — | — | — | — |
| P/OCF | 16.60 | 12.45 | 8.90 | 71.83 | 56.31 | 23.29 | 37.56 | 422.49 | 205.87 | 165.43 | 286.25 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 28.71 | 16.21 | 25.36 | 25.47 | 26.76 | 9.51 | 13.37 | 12.81 | 24.54 | 31.89 |
| EV / EBITDA | 102.06 | 76.78 | 46.11 | 64.48 | — | 108.24 | 32.44 | 55.50 | 38.72 | 317.34 | 225.23 |
| EV / EBIT | 710.61 | 534.60 | — | 28664.99 | — | — | — | — | — | — | — |
| EV / FCF | — | 102.04 | 22.73 | — | 158.61 | 38.53 | 159.06 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.8% | 64.8% | 66.9% | 69.0% | 56.2% | 58.2% | 62.1% | 59.3% | 60.0% | 57.6% | 56.8% |
| Operating Margin | 5.4% | 5.4% | -0.4% | -0.1% | -148.8% | -52.7% | -46.0% | -48.6% | -36.4% | -61.1% | -65.7% |
| Net Profit Margin | -3.2% | -3.2% | -25.2% | -11.0% | -173.0% | -90.6% | -85.3% | 11.6% | -5.0% | -79.1% | -136.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.4% | -2.4% | -17.1% | -7.1% | -75.5% | -28.6% | -26.4% | 4.0% | -2.0% | -39.3% | -66.5% |
| ROA | -0.4% | -0.4% | -4.8% | -2.8% | -31.2% | -13.2% | -11.8% | 1.5% | -0.6% | -7.9% | -11.2% |
| ROIC | 2.3% | 2.3% | -0.1% | -0.0% | -29.5% | -6.9% | -5.2% | -5.7% | -4.5% | -6.9% | -6.0% |
| ROCE | 0.8% | 0.8% | -0.1% | -0.0% | -31.8% | -8.6% | -7.1% | -7.2% | -5.1% | -7.1% | -6.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.54 | 1.54 | 1.51 | 1.04 | 0.71 | 0.74 | 0.95 | 1.18 | 1.29 | 1.77 | 3.56 |
| Debt / EBITDA | 5.35 | 5.35 | 6.16 | 4.46 | — | 8.77 | 10.64 | 15.15 | 10.76 | 59.00 | 42.03 |
| Net Debt / Equity | — | 0.28 | 0.42 | 0.89 | 0.60 | 0.70 | 0.92 | 1.16 | 1.25 | 1.62 | 3.50 |
| Net Debt / EBITDA | 0.97 | 0.97 | 1.71 | 3.81 | — | 8.31 | 10.28 | 14.91 | 10.41 | 54.22 | 41.28 |
| Debt / FCF | — | 1.29 | 0.84 | — | 7.97 | 2.96 | 50.41 | — | — | — | — |
| Interest Coverage | — | — | -0.03 | 0.01 | -1.87 | -1.50 | -1.21 | -1.01 | -1.56 | -1.48 | -1.75 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.42 | 2.42 | 3.16 | 0.81 | 0.41 | 1.12 | 0.60 | 1.00 | 0.77 | 0.85 | 0.22 |
| Quick Ratio | 2.37 | 2.37 | 3.09 | 0.73 | 0.37 | 0.89 | 0.48 | 0.74 | 0.68 | 0.81 | 0.17 |
| Cash Ratio | 2.18 | 2.18 | 2.76 | 0.32 | 0.16 | 0.23 | 0.12 | 0.12 | 0.10 | 0.26 | 0.06 |
| Asset Turnover | — | 0.12 | 0.15 | 0.24 | 0.18 | 0.15 | 0.14 | 0.14 | 0.12 | 0.10 | 0.09 |
| Inventory Turnover | 9.99 | 9.99 | 7.71 | 4.76 | 7.02 | 3.76 | 3.54 | 3.28 | 3.65 | 6.57 | 5.17 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.1% | 0.3% | 0.2% | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 0.1% | — | — | — |
| FCF Yield | 0.7% | 1.0% | 4.6% | — | 0.7% | 2.8% | 0.9% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.1% | 0.1% | 0.3% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $127M | $126M | $184M | $180M | $177M | $164M | $166M | $127M | $117M | $106M |
Spectrum Monetization Execution Risk
Based on reported figures, Globalstar's P/S ratio of 37.86 significantly exceeds traditional telecommunications peers, suggesting that market participants are pricing the company as a speculative infrastructure play on terrestrial 5G spectrum rights rather than a conventional satellite messaging provider with stable, recurring cash flows.
The extreme valuation multiples, including a negative P/E and an EV/EBITDA of 102.24, imply that investors are discounting future monetization of Band n53 rather than current operational performance. This valuation gap warrants caution, as it assumes a successful transition to high-margin licensing that remains unproven in the current financial data.
As reported in recent financial statements, Globalstar's ROIC has fluctuated near zero, reaching only 1.3% in 2026Q1, which indicates that the company is currently struggling to generate returns on its massive infrastructure investments that exceed its cost of capital.
The persistent inability to maintain positive ROIC suggests that the heavy depreciation of the satellite constellation is structurally suppressing returns. Investors should monitor whether future terrestrial spectrum deployments can achieve the scale necessary to drive returns above the company's weighted average cost of capital.
According to quarterly filings, Globalstar's cash conversion cycle has swung wildly from 134 days in 2023Q4 to -85 days in 2026Q1, reflecting the lumpy nature of wholesale contract payments and the company's reliance on deferred revenue to manage its working capital requirements.
The negative CCC in recent periods appears to be driven by favorable payment terms from wholesale partners rather than inherent operational efficiency. This reliance on large, non-recurring contract milestones makes the company's working capital position highly sensitive to the timing of specific partnership deliverables.
Based on the provided data, Globalstar maintains a debt-to-equity ratio of 1.54, which, when combined with inconsistent interest coverage ratios that frequently dip below 1.0, suggests that the company's ability to service its debt obligations remains precarious without continued external financing or capital injections.
The reliance on debt to fund constellation replenishment creates a structural risk, particularly if interest rates remain elevated. The company's leverage profile appears strained compared to more mature telecommunications peers, necessitating a close watch on future refinancing activities and covenant compliance.
The P/E ratio is fundamentally misapplied to Globalstar, as the company's heavy depreciation of satellite assets and lumpy wholesale revenue recognition render GAAP earnings a poor proxy for the underlying economic value of its spectrum-heavy business model.
Investors should instead focus on Adjusted EBITDA and Free Cash Flow to evaluate the company's true earning power. Relying on P/E obscures the fact that the company is currently in a capital-intensive investment phase where accounting losses are a byproduct of infrastructure deployment rather than operational failure.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying GSAT stock.
Globalstar, Inc.'s current P/E ratio is -534.1x. This places it at the 50th percentile of its historical range.
Globalstar, Inc.'s current EV/EBITDA is 102.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 53.0x.
Globalstar, Inc.'s return on equity (ROE) is -2.4%. The historical average is -41.9%.
Based on historical data, Globalstar, Inc. is trading at a P/E of -534.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Globalstar, Inc.'s current dividend yield is 0.10%.
Globalstar, Inc. has 64.8% gross margin and 5.4% operating margin.
Globalstar, Inc.'s Debt/EBITDA ratio is 5.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.