QualityDipStocks / Industrials · Metal Fabrications
Telesat and Variable Voting Shares TSAT
Outside our quality screen, so we don’t track its dips. It’s 39% below its 52-week high.
Outside our quality screen. No fair value estimate for now: its free cash flow is negative.
- Fair value est.
- n/a
- Market Value
- —
- Off 52-wk high
- −39%
- Risk vs market
- Highbeta 3.43
52-week range 36% of the way from its 52-week low to its high
Price $37.35
0 bullish · 5 bearish See why
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
No estimate for TSAT: negative free cash flow. We’d rather show nothing than a made-up number.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much TSAT moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Swings much more than the market, and its own price swings are 7.2× the S&P 500’s.
- Beta vs S&P 500
- 3.43
- Volatility
- 91% vs 13% SPY
- Correlation SPY
- 0.48
- Correlation QQQ
- 0.52
How it ranks
Where TSAT stands vs every one of the 2,467 stocks we cover that has the number. Longer bar = better.
Not in the top quarter on any of these 3 measures
- Free cash flow yield−3.8% · free cash flow vs market capLowest 11%of 1,690
- Revenue growth, last 12 months−27% · vs the 12 months beforeLowest 1%of 2,184
- Operating margin−73% · of sales kept as operating profitLowest 2%of 1,549
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 0 of 5
Nothing in our data makes a clear bull case right now.
Top bearish points 5 of 5
ValuationFree cash flow is negative (−$53M over the last 12 months), so there’s no cash-flow value under the price.
ProfitabilityOperating margin narrowed to −72.7% in FY2025 from 80.8% in FY2023 (SEC filings).
Balance sheetOperating income covers interest only -1.4× over the last 12 months.
GrowthSales fell 27% over the last 12 months vs the 12 months before (SEC filings).
QualityDoesn’t pass our quality screen: ROE under 12% and ROIC under 10%; sales down vs the year-ago quarter; net debt 33.4× EBITDA (limit 3×).
All fundamentals
FCF yield -3.8% · ROE -25% · Sales −27%
Valuation
- P/E
- n/aloss over the last 12 months
- Price / FCF
- n/anegative free cash flow
- FCF yield
- −3.8%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 4.69×
- Price / book
- 3.69×
- Market cap
- $1.4Blisted
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $298M
- Sales growth, 12 months
- −26.8%vs the 12 months before
- Sales growth, 3 yrs
- −18.0%/yrfrom FY2022
- Diluted EPS, 12 months
- −$10.61
- EPS growth, last FY
- n/afewer than two years of diluted EPS
- Net income, 12 months
- −$111M
- Net income growth
- n/anot reported in its SEC filings
Profitability
- Gross margin
- n/agross profit isn't reported (common for service and financial companies)
- Operating margin
- −72.7%
- Net margin
- −37.2%
- FCF margin
- −17.7%
- Return on equity
- −25%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $364M
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- -1.4×operating income / interest
Cash flow & returns
- Free cash flow, 12 months
- −$53M
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- n/ano dividend payments tagged
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Dec 31, 2025; balance sheet at Dec 31, 2025. From Telesat and Variable Voting Shares’s SEC filings, reported in CAD and converted to US dollars. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
Sales −20%
- Gross margin30%
- Operating margin−29%
- Return on invested capital−2%
- Return on equity−79%
- Sales growth (latest quarter vs year-ago quarter)−20%
- Net debt / EBITDA33.4×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $37.35
- 52-wk lowlowest close, 1 year$23.58−36.9%
- PriceMon Nov 2 close$37.35you are here
- 52-wk highhighest close, 1 year$61.40+64.4%
Momentum & 52-week range
RSI 36 · 5 days −16.4%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
TSAT is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Telesat and Variable Voting Shares in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 5:14 PM ET.
Compare with peers
Closest in size in Metal Fabrications
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.