Telesat Corporation (TSAT) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 3.63M | -30.18M | -11.35M | -30.67M | 138.92M | -1.69M | -2.24M | -9.19M | 76.67M | 13.07M | 53.67M | 39.7M | 62.65M | 67.83M | 91.84M | 25.74M | 43.44M | 48.34M | 95.56M | 53.44M |
| Operating CF Margin % | 4.16% | -32.12% | -11.23% | -28.9% | 118.99% | -1.32% | -1.62% | -6.03% | 50.38% | 7.88% | 30.65% | 22.09% | 34.16% | 32.82% | 50.99% | 13.79% | 23.39% | 25.78% | 49.68% | 28.44% |
| Operating CF Growth % | -97.39% | -1683.77% | -405.61% | -233.86% | 81.19% | -112.95% | -104.18% | -123.14% | 22.38% | -80.73% | -41.56% | 54.26% | 44.21% | 40.32% | -3.89% | -51.84% | -56.14% | -33.56% | -37.33% | 38.07% |
| Net Income | -45.61M | -125.44M | -35.27M | 75.53M | -51.46M | -447.23M | 67.84M | 129.26M | -52.34M | 37.97M | -3.27M | 519.94M | 28.63M | 92.34M | -228.71M | -4.38M | 60.63M | 115.67M | -52.24M | 53.01M |
| Depreciation & Amortization | 30.82M | 37.02M | 37.48M | 37.55M | 36.81M | 29.9M | 35.04M | 34.45M | 39.22M | 45.77M | 50.22M | 50.03M | 49.74M | 50.47M | 50.03M | 50.23M | 53.01M | 54.46M | 54.65M | 56.32M |
| Stock-Based Compensation | 0 | 0 | 0 | 2.35M | 3.24M | 3.05M | 3.06M | 6.01M | 5.43M | 6.95M | 7.06M | 10.05M | 8.96M | 11.97M | 12.6M | 18.69M | 24.17M | 23.55M | 23.59M | 24.88M |
| Deferred Taxes | -11.57M | -59.36M | 0 | 3.8M | 918K | -53.23M | 5.16M | 28.55M | 6.48M | -8.86M | 18.2M | 71.92M | 8.33M | 1.79M | 4.67M | 24.05M | 19.43M | 30.79M | 12.76M | 13.06M |
| Other Non-Cash Items | 17.2M | 119.52M | 33.8M | -139.97M | 30.64M | 435.29M | -68.89M | -171.29M | 70.92M | -61.19M | -14.81M | -605.39M | -11.95M | -110.82M | 229.71M | -45.67M | -78.6M | -120.25M | 68.74M | -86.23M |
| Working Capital Changes | 12.78M | -1.93M | -47.36M | -9.93M | 118.77M | 30.53M | -44.46M | -36.16M | 6.95M | -7.57M | -3.73M | -6.85M | -21.06M | 22.09M | 23.55M | -17.19M | -35.19M | -55.87M | -11.95M | -7.59M |
| Change in Receivables | -756.95K | -6.43M | -104.99M | 6.93M | 98.06M | -8.56M | -4.26M | -13.37M | 12.39M | -7.41M | -6.74M | -396K | -9.89M | 3.06M | 13.76M | -3.13M | -11.4M | -63.46M | -3.07M | -7.06M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 9.93M | -5.35M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.83M | -16.94M | 1.97M | 4.47M | 9.63M | -16.15M | -5.02M | 0 | 0 | 0 |
| Cash from Investing | -118.86M | -221.13M | -127.2M | -182.16M | -230.56M | -557.42M | -314.1M | -199.99M | -19.93M | -52.52M | 331.2M | -41.78M | -24.96M | -18.27M | -13.03M | -15.22M | 46.6M | -150.61M | -32.28M | -69.93M |
| Capital Expenditures | -117.99M | -220.27M | -127.46M | -35.2M | -34.74M | -16.87M | -16.21M | -12.45M | -19.28M | -16.04M | -54.39M | -20.16M | -12.44M | -9.28M | -6.09M | -7.77M | -9.63M | -9.5M | -13.59M | -8.23M |
| CapEx % of Revenue | 135.18% | 234.42% | 126.12% | 33.18% | 29.76% | 13.18% | 11.71% | 8.17% | 12.67% | 9.67% | 31.07% | 11.21% | 6.78% | 4.49% | 3.38% | 4.16% | 5.19% | 5.07% | 7.07% | 4.38% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 2.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -872.25K | -857.3K | 254K | -146.95M | -195.81M | -542.96M | -297.89M | -187.54M | -648K | -36.48M | 385.59M | -21.63M | -12.52M | -8.98M | -6.95M | -7.46M | 56.23M | -141.11M | -18.69M | -61.7M |
| Cash from Financing | 120.69M | 283.65M | 64.06M | -8.09M | 332.51M | -12.12M | -22.29M | -133.52M | -3.47M | -30.39M | -161.05M | -161.16M | -2.05M | -16.68M | 5.55M | -81.66M | -12.07M | -970K | -2.15M | 610.7M |
| Debt Issued (Net) | 130.55M | 284.56M | 64.37M | -5.54M | 339.49M | -8.61M | -19.95M | -129.12M | -647K | -27.84M | -158.22M | -159.6M | -523K | -694K | -932K | -82.86M | -15.25M | -398K | -425K | -750K |
| Equity Issued (Net) | 600.55K | 549.55K | -120K | -1.54M | -6.79M | -2.34M | 0 | 0 | 0 | 0 | -2.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | -120K | -1.54M | -6.79M | -2.34M | 0 | 0 | 0 | 0 | -2.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -10.46M | -1.46M | -196K | -1.01M | -190K | -1.18M | -2.33M | -4.4M | -2.83M | -2.54M | -113K | -1.56M | -1.53M | -15.99M | 6.48M | 1.2M | 3.18M | -572K | -1.73M | 611.45M |
| Net Change in Cash | 6.36M | 18.41M | -64.78M | -249.99M | 245.31M | -525.34M | -349.84M | -329.06M | 87.21M | -105.95M | 258.05M | -192.58M | 31.79M | 2.75M | 192.79M | -30.34M | 63M | -109.05M | 92.54M | 583.01M |
| Free Cash Flow | -114.36M | -250.46M | -138.8M | -65.87M | 104.18M | -18.56M | -18.46M | -21.68M | 57.39M | -3.03M | -723K | 19.54M | 50.21M | 58.55M | 85.75M | 17.97M | 33.81M | 37.68M | 81.97M | 45.21M |
| FCF Margin % | -131.02% | -266.54% | -137.35% | -62.08% | 89.23% | -14.5% | -13.33% | -14.23% | 37.72% | -1.82% | -0.41% | 10.87% | 27.38% | 28.33% | 47.61% | 9.63% | 18.2% | 20.1% | 42.62% | 24.06% |
| FCF Growth % | -209.77% | -1249.58% | -652.03% | -203.75% | 81.52% | -513.08% | -2452.84% | -210.97% | 14.3% | -105.17% | -100.84% | 8.76% | 48.52% | 55.39% | 4.61% | -60.26% | -64.69% | -34.85% | -2.93% | 49.59% |
| FCF per Share | -7.63 | -16.87 | -9.38 | -3.98 | 7.24 | -1.32 | -1.15 | -1.37 | 4.19 | -0.21 | -0.05 | 1.42 | 3.64 | 4.24 | 7.05 | 1.48 | 2.78 | 3.13 | 6.22 | 3.43 |
| FCF Conversion (FCF/Net Income) | -0.08x | 0.24x | 0.32x | -1.46x | -8.94x | 0.01x | -0.13x | -0.26x | -5.19x | 1.29x | -49.42x | 0.28x | 7.82x | 2.93x | -1.57x | -13.21x | 3.11x | 0.96x | -1.83x | 1.01x |
| Interest Paid | 0 | 0 | 0 | 0 | 36.71M | 0 | 0 | 0 | 40.34M | 83.66M | 0 | 0 | 39.08M | 0 | 0 | 0 | 23.12M | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18.38M | 0 | 0 | 0 | 17.51M | 0 | 0 | 0 | 29.48M | 0 | 0 | 0 |