Telesat Corp. (TSAT) intrinsic value & 10-year financials
Telesat Corp. (TSAT) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 8 fiscal years revenue shrank 12.2% a year to CAD 418.0M, with an average return on invested capital of 5.2%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- CAD 418.0M
- Revenue growth (8-yr CAGR)
- -12.2%
- ROIC (10-yr avg)
- 5.2%
- Free cash flow (FY2025)
- -CAD 73.8M
TSAT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | CAD 418.0M | -CAD 530.2M | -CAD 10.61 | -CAD 73.8M | -72.7% | -5.5% |
| FY2024 | CAD 571.0M | -CAD 302.5M | -CAD 6.29 | -CAD 2.3M | -7.1% | -0.9% |
| FY2023 | CAD 704.2M | CAD 583.3M | CAD 11.29 | CAD 126.2M | 80.8% | 12.4% |
| FY2022 | CAD 759.2M | -CAD 80.1M | -CAD 1.90 | CAD 196.1M | 39.0% | 7.4% |
| FY2021 | CAD 758.2M | CAD 157.8M | CAD 2.22 | CAD 261.8M | 54.3% | 7.0% |
| FY2020 | CAD 820.5M | CAD 245.6M | CAD 4.93 | CAD 355.4M | 49.4% | 10.6% |
| FY2019 | CAD 910.9M | CAD 187.2M | CAD 3.76 | CAD 367.3M | 52.5% | — |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in CAD.
Executive summary
Telesat Corp revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Telesat Corp has historically struggled to out-earn its cost of capital, averaging just 5.2% ROIC.
Telesat Corp capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Telesat Corp is modeled at -12.2% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-154.48 per share.