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EchoStar cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$48.1M in Q3 2026 · −$533M over twelve months

Operating cash flow$113M
Capital spending−$65.0M
Free cash flow+$48.1M
Cash / net income0.0×
Cash conversion cycle44 days

Analysis

In Q3 2026, EchoStar generated $113M of operating cash flow and spent $65.0M on capital projects, leaving free cash flow of $48.1M. That is $192M more than in Q3 2025 (−$144M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$84.0M; the largest uses were other financing ($9.6B), capital spending ($449M), operating cash flow ($84.0M); besides operations, cash came from other investing ($21.0B); the cash balance rose by $10.8B.

Operating cash flow was $113M against net income of $2.8B — 0.0× profit, less cash than reported earnings, worth checking against working capital. The largest differences: deferred taxes +$132M, depreciation & amortization +$86.4M, stock-based pay +$2.6M.

Its cash conversion cycle was 44 days (receivables 53 + inventory 42 − payables 52).

Free cash flow

EchoStar: free cash flow by quarterEchoStar: free cash flow by quarter−$299MQ4 2024−$51.7MQ1 2025−$286MQ2 2025−$144MQ3 2025−$583MQ4 2025$105MQ1 2026−$102MQ2 2026$48.1MQ3 2026
Operating cash flow less capital spending.
EchoStar: operating cash flow against capital spendingEchoStar: operating cash flow against capital spendingOperating cash flowCapital spending$45.6M$344MQ4 2024$207M$258MQ1 2025$7.5M$293MQ2 2025$112M$256MQ3 2025−$425M$158MQ4 2025$238M$133MQ1 2026−$10.0M$92.3MQ2 2026$113M$65.0MQ3 2026
Latest (Q3 2026): Operating cash flow $113M, Capital spending $65.0M.

Capital allocation, year by year

EchoStar: where the cash came from (up) and went (down), by fiscal yearEchoStar: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $4.7BFY2021: Net borrowing $5.8BFY2021: Shares issued $832KFY2021: Capital spending −$1.6BFY2021: Buybacks −$261M$10.4BFY2021FY2022: Operating cash flow $3.6BFY2022: Net borrowing $2.0BFY2022: Capital spending −$3.1BFY2022: Acquisitions −$7.9MFY2022: Buybacks −$89.3M$5.6BFY2022FY2023: Operating cash flow $2.4BFY2023: Net borrowing $1.3BFY2023: Shares issued $10.6MFY2023: Capital spending −$3.1B$3.7BFY2023FY2024: Operating cash flow $1.3BFY2024: Net borrowing $2.3BFY2024: Capital spending −$1.5B$3.6BFY2024FY2025: Operating cash flow −$99.4MFY2025: Net borrowing $56.8MFY2025: Asset sales $47.2MFY2025: Capital spending −$966MFY2025: Buybacks −$48.5M$104MFY2025
Over these 5 years operating cash flow totalled $11.9B; the largest uses were capital spending ($10.3B) and buybacks ($399M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$14.0B
Debt$9.7B
Net cash$4.3B
Due within a year$14.1M
Cash runwaymore than 10 years

EchoStar is burning cash: its operations consume cash, a free cash flow of −$533M a year at the current rate against $14.0B of cash and investments: a runway of more than ten years at that rate; $14.1M of debt also comes due within a year, which the cash covers before any new financing.

Where the cash came from and went

EchoStar: sources (+) and uses (−) of cash, Q3 2026EchoStar: sources (+) and uses (−) of cash, Q3 2026Other investing$19.6BCash drawn (+) / kept (−)−$12.1BOther financing−$7.5BOperating cash flow$113MCapital spending−$65.0MNet borrowing (+) / repaid (−)−$10.2MExchange rates$1.0M
EchoStar: sources (+) and uses (−) of cash, TTM to Q3 2026EchoStar: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$21.0BCash drawn (+) / kept (−)−$10.8BOther financing−$9.6BCapital spending−$449MOperating cash flow−$84.0MNet borrowing (+) / repaid (−)−$42.0MExchange rates$694K

From profit to cash

EchoStar: net income to operating cash flow, Q3 2026EchoStar: net income to operating cash flow, Q3 2026Net income$2.8BDepreciation & amortization$86.4MStock-based pay$2.6MDeferred taxes$132MOperating cash flow$113M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202653425244
Q2 202628172025
Q1 202631172523
Q4 202529172620
Q3 202529152717
Q2 202529152717
Q1 202528162617
Q4 202427162617

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$113M−$65.0M−$10.2M−$12.1B$48.1M
Q2 2026−$10.0M−$92.3M−$10.6M$42.5M−$102M
Q1 2026$238M−$133M−$5.7M$696M$105M
Q4 2025−$425M−$158M−$14.7M$528M−$583M
Q3 2025$112M−$256M−$20.8M−$64.5M−$144M
Q2 2025$7.5M−$293M−$28.3M$168M−$286M
Q1 2025$207M−$258M−$29.3M$1.8B−$51.7M
Q4 2024$45.6M−$344M−$14.6M−$1.8B−$299M

EchoStar: income statement and cash flow

EchoStar, Q3 2026: revenue $1.1B (-69% year over year), operating margin 13.1%. The chart follows the revenue to costs, profit and cash.

EchoStar: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.