Telesat (TSX:TSAT) EBIT: C$-495.1 Mil (TTM As of Mar. 2026)


TSX:TSAT Telesat Corp TSX:TSAT
52 GF Score
Price C$61.03
GF Value C$11.00
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Telesat EBIT?

Telesat TSX:TSAT -1.33% 52 EBIT is C$-495.1 Mil as of Mar. 2026. GuruFocus rates TSX:TSAT with a GF Score™ of 52/100 and a GF Value™ of C$11.00 (Significantly Overvalued). The stock has 7 warning signs investors should review.

Telesat's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was C$-109.8 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was C$-495.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Telesat's annualized ROC % for the quarter that ended in Mar. 2026 was 0.04%. Telesat's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -15.69%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Telesat's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -9.53%.

Telesat  (TSX:TSAT) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Telesat's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=3.932 * ( 1 - 5.83% )/( (9008.281 + 9158.349)/ 2 )
=3.7027644/9083.315
=0.04 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6603.783 - 80.876 - ( 510.228 - max(0, 3317.432 - 832.058+510.228))
=9008.281

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6692.066 - 88.889 - ( 523.151 - max(0, 3412.98 - 857.808+523.151))
=9158.349

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Telesat's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-439.356/( ( (2716.708 + max(-685.545, 0)) + (2885.263 + max(-713.84, 0)) )/ 2 )
=-439.356/( ( 2716.708 + 2885.263 )/ 2 )
=-439.356/2800.9855
=-15.69 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(30.561 + 1.486 + 255.97) - (80.876 + 45.329 + 847.357)
=-685.545

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(58.823 + 0 + 265.78) - (88.889 + 0 + 949.554)
=-713.84

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Telesat's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=-495.087/5195.439
=-9.53 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Telesat EBIT Related Terms

Telesat EBIT Historical Data

* Premium members only.

The historical data trend for Telesat's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Telesat EBIT Chart

Telesat Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial 421.40 191.57 943.82 -71.60 -378.86

Telesat Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.13 133.23 -83.44 -435.04 -109.84

TSX:TSAT vs CSCO, CIEN, MSI: EBIT Comparison

For the Communication Equipment subindustry, Telesat's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Telesat EV-to-EBIT vs Hardware Industry

For the Hardware industry and Technology sector, Telesat's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Telesat's EV-to-EBIT falls into.


TSX:TSAT
52GF Score
Telesat Corp TSX:TSAT
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telesat EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$-495.1 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of C$-495.1 Mil mean?
Telesat (TSX:TSAT) has a EBIT of C$-495.1 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Telesat.
Is Telesat's EBIT too high?
Telesat's current EBIT is C$-495.1 Mil. Overall, Telesat has a GF Score™ of 52/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Telesat's EBIT compare to CSCO and CIEN?
Telesat's EBIT of C$-495.1 Mil can be compared against companies in the Hardware industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Hardware company?
A good EBIT depends on the Hardware industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Telesat. Telesat's current EBIT is C$-495.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telesat stock overvalued right now?
Based on GuruFocus' analysis, Telesat (TSX:TSAT) is currently considered Significantly Overvalued. The stock's GF Value™ is C$11.00, compared to a current price of C$61.03 — trading 454.8% above its estimated fair value. The current EBIT is C$-495.1 Mil. Telesat's overall GF Score™ is 52/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Telesat (TSX:TSAT), the current EBIT is C$-495.1 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Telesat (TSX:TSAT) Overvalued in 2026?

Based on GuruFocus' analysis, Telesat stock appears to be overvalued. The current stock price of C$61.03 is trading 454.8% above its estimated GF Value™ of C$11.00. GuruFocus considers Telesat to be Significantly Overvalued.

Key valuation signals for TSX:TSAT:

  • EBIT: C$-495.1 Mil
  • GF Value™: C$11.00 vs. price of C$61.03 (454.8% above fair value)
  • GF Score™: 52/100 with 7 warning signs

No single metric tells the full story. See the TSX:TSAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Telesat Business Description

Other Exchanges TSAT:USAZE2:Germany
Address 160 Elgin Street, Ottawa, ON, CAN, K2P 2P7
Telesat Corp is a satellite operator, that provides its customers with mission-critical communications services. It operates in a single operating segment, in which it provides satellite-based services to its broadcast, enterprise, and consulting customers around the world. The company has two operating segments: GEO services (GEO) segment that refers to the operation of the fleet of GEO satellite and LEO services (LEO) segment that refers to the deployment and operation of the Telesat Lightspeed constellation Geographically, it derives a majority of its revenue from Canada. It derives revenue from Broadcast, Enterprise, Consulting, and others.
52GF Score

Get the complete analysis for TSX:TSAT

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$61.03
Price
C$11.00
GF Value