Satellite operators’ financial KPIs 2024

11 December 2024 | Research

Luke Wyles

Report | PPTX and PDF (21 slides); Excel | Satellite Capacity


"There is general pressure on EBITDA margins across the satcom industry as satellite operators transition away from broadcasting and wholesale business and towards providing services."

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This report provides financial data for major satellite communications (satcom) operators. Our analysis of metrics provides comparison of operators’ performance, and allows for competitive ranking across the industry.

Report coverage

  • Financial analysis of reports from 14 major satellite operators, including global and regional geostationary orbit (GEO) players, as well as mobile satellite services (MSS) providers.
  • Reported and calculated financial metrics for the operators covered for the past 5 years.
  • Financial data as reported, in original currencies and financial periods, as well as converted calendar-year figures in US dollars for easy comparison.
  • Analysis of the state of the satellite industry in 2023, including the most significant changes in operator performance.
  • Strategic recommendations for satellite operators in response to current and anticipated financial trends.

Report segmentation

Operators Global:
  • EchoStar (Hughes)
  • Eutelsat
  • Intelsat
  • SES
  • Telesat
  • Viasat

Regional:

  • APT Satellite
  • Hispasat
  • SKY Perfect JSAT
  • Spacecom
  • Thaicom
  • Yahsat

Mobile satellite services (MSS):

  • Globalstar
  • Iridium
Metrics

Absolute:

  • Revenue
  • (Adjusted) EBITDA
  • Backlog
  • Capex
  • Free cash flow

Comparative:

  • (Adjusted) EBITDA margin
  • Backlog/revenue ratio
  • Capex/revenue ratio
  • (Adjusted) EBITDA/cash conversion ratio
  • Net debt/(adjusted) EBITDA ratio
  • Times interest earned
  • Turnover ratio
  • Return on capital employed

USD8995

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Author

Luke Wyles

Analyst