Telesat Corp (TSAT) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Telesat Corp $8.98, price $48.00, upside -81.3%, quality 17 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Telesat Corporation, a satellite operator, provides mission-critical communications solutions to support the requirements of satellite users in Canada, the United States, Asia, Australia, Latin America, the Caribbean, Europe, the Middle East, and Africa. It operates through Geostationary (GEO) and Low Earth Orbit (LEO) segments.
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Telesat Corporation, a satellite operator, provides mission-critical communications solutions to support the requirements of satellite users in Canada, the United States, Asia, Australia, Latin America, the Caribbean, Europe, the Middle East, and Africa. It operates through Geostationary (GEO) and Low Earth Orbit (LEO) segments. The company offers broadcast services, such as direct-to-home television, video distribution and contribution, and occasional use services; enterprise services, including telecommunication carrier and integrator, government, consumer broadband, resource, maritime and aeronautical, and retail and satellite operator services; and consulting services related to space and earth segments, government studies, satellite control services, and research and development. It also provides satellites for full-time transmission of television programming; and government services. In addition, the company offers satellite capacity and end-to-end services for data and voice transmission to telecommunications carriers and integrators; and space segment services and terrestrial facilities for enterprise connectivity, internet backhaul, and cellular backhaul, as well as rural telephony services to telecommunications carriers and network services integrators. Further, it provides direct-to-consumer broadband services; communications services to offshore, oil and gas, and mining industries; and installation and maintenance of the end user terminal, as well as the provision of satellite capacity and other network elements. Additionally, the company operates satellite and terrestrial networks that support enterprise and retail activities. It offers its services through a direct sales force. Telesat Corporation was founded in 1969 and is headquartered in Ottawa, Canada.
Stock analysis
Telesat Corp (TSAT) currently trades at $48.00, while our model-based Fair Value estimate is $8.98, 81.3% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $9.51 per share, and 0 of the 4 models we run sit above the $48.00 price.
Bear case: the Asset-Based group reads lowest at $4.72, and 4 of the 4 models stay below the price. Evidence for this calculation is low.
Quality & growth
The Quality Score stands at 17/100 (below-average quality), in the Technology sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Telesat Corp reported revenue of C$418M in FY2025 versus C$758M in FY2021, a compound −13.9%/yr. Reported net income was −C$155M in FY2025.
Key figures
Market cap $2.3B · P/S ratio 5.80 · EPS (TTM) $−8.84 · Net margin −37.2% · Return on equity −30.7% · Return on assets (EBIT) 4.1% · Operating margin 2.0% · Revenue (TTM) C$388M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 22% below its 52-week high and 104% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −62% fair-value upside, at −81%, TSAT screens richer than that median.
Fair Value models
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.0/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−26.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−18.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−12.6%
Start year 2020 (pandemic). Over 10 years: −7.9% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−5.3%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
52.5% (2019) → −7.1% (2024)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Communication Equipment · 295 stocks
Beats the industry median on 0/9 measures
Overall it trails its industry peers.
Valuation
Quality Score17 · Bottom 25%
Fair Value upside−80.7% · Bottom 25%
Profitability
Return on assets0.3% · Below median
Net margin (TTM)−47.7% · Bottom 25%
Operating margin (TTM)2.0% · Below median
Growth and dividend
Revenue growth−25.4% · Bottom 25%
Balance sheet
Debt / equity2.17× · Highest 25%
Valuation Multiplesvs Communication Equipment median · lower = cheaper
P/B4.24× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Telesat Corp Fair Value". https://www.fairvalue-calculator.com/stock/TSAT
Frequently asked questions
Is Telesat Corp (TSAT) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of $8.98 versus a price of $48.00, about −81% upside (overvalued).
What is the fair value of TSAT?
Our model-based fair value for Telesat Corp is $8.98 (as of Sep 28, 2026), built from audited fundamentals. The current price: $48.00.
What is the quality score of TSAT?
Telesat Corp has a Quality Score of 17/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Telesat Corp (TSAT)?
Our model-based price target is the fair value of $8.98 (as of Sep 28, 2026) from 4 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Telesat Corp stock forecast for 2026?
Our models put fair value at $8.98, about −81% upside versus a price of $48.00 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Telesat Corp (TSAT)?
Telesat Corp reported trailing-twelve-month revenue of about C$388M (latest available figure, as of Sep 28, 2026).
What is the intrinsic value of Telesat Corp (TSAT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Telesat Corp it is $8.98 per share (as of Sep 28, 2026), against a price of $48.00. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is Telesat Corp stock overvalued or undervalued in 2026?
As of Sep 28, 2026, TSAT trades above its calculated fair value: price $48.00, fair value $8.98, a gap of about −81% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TSAT?
No. The price is what the market pays today ($48.00); the fair value is what the company's own numbers justify ($8.98). For Telesat Corp the two are $39.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Telesat Corp worth?
The market values Telesat Corp at about $2.3B (market capitalisation, as of Sep 28, 2026). Per share that is $48.00; our models calculate a fair value of $8.98 per share.
How solid is the balance sheet of Telesat Corp (TSAT)?
Balance-sheet figures for Telesat Corp (as of Sep 28, 2026): return on equity −30.7%, debt of 2.17 per unit of equity. They feed the Quality Score of 17/100, which measures business quality independently of the share price.
How far is TSAT from its 52-week high?
Telesat Corp trades at $48.00, about 22% below its 52-week high of $61.40 and 104% above the low of $23.58 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $8.98 is for.
Which stocks are comparable to Telesat Corp?
From the same area (Technology) we also value Cisco Systems, Inc, Foxconn Industrial Internet Co, Zhongji Innolight Co, Eoptolink Technology Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Telesat Corp stock attractive at the current price?
The data as of Sep 28, 2026: price $48.00, calculated fair value $8.98 (−81%), Quality Score 17/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TSAT calculated?
We run Telesat Corp through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $8.98, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Telesat Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Telesat Corp (TSAT)?
The closing price on Oct 2, 2026 was $48.00. Our model-based fair value is $8.98, about −81% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Telesat Corp right now?
Weak quality (17/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Telesat Corp
How large is the market capitalisation of Telesat Corp (TSAT)?
The market capitalisation of Telesat Corp is $2.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Telesat Corp (TSAT)?
The price-to-sales ratio of Telesat Corp is 5.80 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Telesat Corp (TSAT)?
Earnings per share at Telesat Corp are $−8.84. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Telesat Corp (TSAT)?
The net margin of Telesat Corp is −37.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Telesat Corp (TSAT)?
The return on equity (ROE) of Telesat Corp is −30.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Telesat Corp (TSAT)?
On an EBIT basis the return on assets of Telesat Corp is 4.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Telesat Corp (TSAT)?
The operating margin of Telesat Corp is 2.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Telesat Corp (TSAT)?
Revenue at Telesat Corp is growing −25.4% versus a year earlier (3y avg −18.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Telesat Corp (TSAT)?
Earnings per share at Telesat Corp are growing −43.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Telesat Corp (TSAT) generate?
The free cash flow of Telesat Corp is −C$698M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Telesat Corp (TSAT) carry?
The net debt of Telesat Corp is C$3.0B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Sep 28, 2026