TSAT
Valuation Ratios
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Price to Earnings | -2.61 | 0.89 | -3.95 | 2.18 |
| Price to Sales | 0.40 | 0.20 | 0.12 | 0.45 |
| Book Value Per Common Share | 50.04 | 48.63 | 37.60 | 34.58 |
| Price to Book | 0.33 | 0.21 | 0.20 | 0.83 |
| Price to Operating Cash Flow | 3.67 | 0.82 | 0.39 | 1.17 |
| Price to Free Cash Flow | -95.80 | 1.23 | 0.45 | 1.32 |
| Enterprise Value to EBITDA | 34856.11 | 1247.05 | 2435.11 | 5378.67 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Price to Earnings | -11.13 | 17.09 | -17.44 | -1.83 | 10.37 |
| Price to Sales | 3.88 | 3.38 | 2.32 | 1.81 | 1.34 |
| Book Value Per Common Share | 45.07 | 45.71 | 48.95 | 50.04 | 53.12 |
| Price to Book | 0.59 | 0.53 | 0.38 | 0.33 | 0.25 |
| Price to Operating Cash Flow | -34.56 | -11.70 | 1.95 | -136.89 | -55.57 |
| Price to Free Cash Flow | -9.41 | -5.45 | 2.60 | -12.48 | -9.47 |
| Enterprise Value to EBITDA | 21221.96 | 63157.31 | 11058.64 |
Earnings Data
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Earning YoY | ||||
| Revenue YoY | -18.90 | -7.25 | 0.13 | |
| EBITDA YoY | -94.12 | 188.28 | -38.34 | |
| Net Profit YoY |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Earning YoY | |||||
| Revenue YoY | -4.76 | -9.12 | -8.79 | -7.55 | |
| EBITDA YoY | 294.72 | ||||
| Net Profit YoY |
Financial Strength
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Cash Per Common Share | 39.65 | 124.45 | 136.32 | 120.67 |
| Quick Ratio | 2.89 | 12.81 | 10.14 | 8.66 |
| Current Ratio | 3.98 | 13.19 | 10.43 | 8.89 |
| Debt to Equity | 1.78 | 1.63 | 2.52 | 2.75 |
| Long-Term Debt to Equity | 1.68 | 1.57 | 2.43 | 2.64 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Cash Per Common Share | 32.64 | 37.30 | 55.49 | 39.24 | 76.72 |
| Quick Ratio | 2.66 | 3.61 | 4.34 | 2.89 | 3.96 |
| Current Ratio | 4.11 | 5.08 | 5.63 | 3.98 | 4.36 |
| Debt to Equity | 2.08 | 1.96 | 1.92 | 1.78 | 1.40 |
| Long-Term Debt to Equity | 1.99 | 1.89 | 1.83 | 1.68 | 1.29 |
Profitability
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| ROA | -1.26 | 2.49 | -0.37 | 1.45 |
| ROE | -3.51 | 6.55 | -1.29 | 5.46 |
| Gross Margin | 93.35 | 94.53 | 92.89 | 96.02 |
| Operating Margin | -12.54 | 134.04 | 25.23 | 55.58 |
| EBITDA Margin | 11.74 | 161.84 | 52.07 | 84.56 |
| Net Profit Margin | -15.36 | 22.31 | -3.13 | 12.20 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| ROA | -0.51 | 0.31 | -0.22 | -1.82 | 0.28 |
| ROE | -1.57 | 0.92 | -0.64 | -5.06 | 0.68 |
| Gross Margin | 95.28 | 95.91 | 94.25 | 92.21 | 95.51 |
| Operating Margin | -82.56 | 125.31 | 5.47 | -345.70 | 95.70 |
| EBITDA Margin | -45.48 | 160.70 | 37.00 | -322.34 | 121.01 |
| Net Profit Margin | -34.90 | 19.79 | -13.31 | -98.68 | 12.93 |
Dividends
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Dividend Yield | 0.00 | |||
| Dividend Payout Ratio | 0.01 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Dividend Yield | |||||
| Dividend Payout Ratio |
Financial Statements
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Assets | 6,945,179.00 | 6,313,368.00 | 6,479,593.00 | 6,362,451.00 |
| Current Assets | 1,021,272.00 | 1,816,688.00 | 1,788,288.00 | 1,617,435.00 |
| Cash and Short-Term Investments | 552,629.00 | 1,669,720.00 | 1,678,307.00 | 1,450,454.00 |
| Cash and Cash Equivalents | 552,064.00 | 1,669,089.00 | 1,677,792.00 | 1,449,593.00 |
| Short-Term Investments | 565.00 | 631.00 | 515.00 | 861.00 |
| Net Receivables | 188,183.00 | 94,799.00 | 59,657.00 | 125,917.00 |
| Inventory | 1,457.00 | 4,317.00 | 2,023.00 | 16,982.00 |
| Other Current Assets | 279,003.00 | 47,852.00 | 48,301.00 | 24,082.00 |
| Non-Current Assets | 5,923,907.00 | 4,496,680.00 | 4,691,305.00 | 4,745,016.00 |
| Property, Plant, Equipment Net | 2,277,143.00 | 1,260,298.00 | 1,364,084.00 | 1,429,688.00 |
| Goodwill | 2,612,972.00 | 2,446,603.00 | 2,446,603.00 | 2,446,603.00 |
| Intangible Assets | 497,466.00 | 692,756.00 | 756,878.00 | 762,659.00 |
| Long-Term Investments | 0 | 0 | 10,476.00 | 16,348.00 |
| Non-Current Deferred Assets | 419,490.00 | 2,954.00 | 50,231.00 | 46,698.00 |
| Other Non-Current Assets | 0 | 0 | 63,033.00 | 43,020.00 |
| Liabilities | 4,448,474.00 | 3,914,385.00 | 4,639,441.00 | 4,666,158.00 |
| Current Liabilities | 256,578.00 | 137,727.00 | 171,396.00 | 181,955.00 |
| Payables and Expenses | 186,353.00 | 68,581.00 | 86,882.00 | 81,379.00 |
| Account Payables | 107,952.00 | 4,570.00 | 1,976.00 | 3,456.00 |
| Current Accrued Liabilities | 20,849.00 | 21,719.00 | 38,536.00 | 19,814.00 |
| Short-Term Debt | 2,038.00 | 2,217.00 | 2,120.00 | 1,949.00 |
| Other Current Liabilities | 68,187.00 | 66,929.00 | 82,394.00 | 98,627.00 |
| Non-Current Liabilities | 4,191,896.00 | 3,776,658.00 | 4,468,045.00 | 4,484,203.00 |
| Long-Term Debt | 3,127,952.00 | 3,228,141.00 | 3,882,067.00 | 3,826,326.00 |
| Other Non-Current Liabilities | 1,063,944.00 | 548,517.00 | 585,978.00 | 657,877.00 |
| Equity | 2,496,705.00 | 2,398,983.00 | 1,840,152.00 | 1,696,293.00 |
| Shareholders Equity | 710,280.00 | 661,918.00 | 481,436.00 | 415,674.00 |
| Capital Stock | 59,082.00 | 51,252.00 | 46,554.00 | 42,841.00 |
| Share Premium | 0 | 0 | 0 | 0 |
| Retained Earnings | 467,333.00 | 534,058.00 | 356,273.00 | 350,029.00 |
| Treasury Shares | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 183,865.00 | 76,608.00 | 78,609.00 | 22,804.00 |
| Minority Interest | 1,786,425.00 | 1,737,065.00 | 1,358,716.00 | 1,280,619.00 |
| Debt | 3,129,990.00 | 3,230,358.00 | 3,884,187.00 | 3,828,275.00 |
| Net Debt | 2,544,551.00 | 1,527,930.00 | 2,172,289.00 | 2,343,004.00 |
| Common Shares Outstanding | 14,192.85 | 13,610.34 | 12,805.29 | 12,020.09 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Revenues | 571,044.00 | 704,161.00 | 759,169.00 | 758,212.00 |
| Cost Of Revenue | 37,972.00 | 38,515.00 | 54,004.00 | 30,215.00 |
| Interest Income | 66,146.00 | 64,445.00 | 23,564.00 | 3,418.00 |
| Interest Expense | 243,907.00 | 270,957.00 | 221,756.00 | 187,994.00 |
| Non-Interest Expense | 110,330.00 | 117,917.00 | 152,154.00 | 156,112.00 |
| Gross Profit | 533,072.00 | 665,646.00 | 705,165.00 | 727,997.00 |
| Operating Expenses | 308,406.00 | 17,119.00 | 408,719.00 | 318,026.00 |
| Selling, General and Administrative Expenses | 110,330.00 | 117,917.00 | 152,154.00 | 156,112.00 |
| Other Operating Expenses | 59,465.00 | -296,560.00 | 52,831.00 | -57,841.00 |
| Operating Income | 224,666.00 | 648,527.00 | 296,446.00 | 409,971.00 |
| Net Non-Operating Income | -42,682.00 | 2,694.00 | -88.00 | 0 |
| EBT | -315,503.00 | 672,866.00 | -30,188.00 | 233,402.00 |
| Income Tax | -13,037.00 | 89,596.00 | 51,409.00 | 71,035.00 |
| Net Income Including Non-Controlling Interests | -302,466.00 | 583,270.00 | -81,597.00 | 162,367.00 |
| Net Income Non-Controlling Interests | 214,746.00 | -426,152.00 | 57,833.00 | -69,835.00 |
| Net Income | -87,720.00 | 157,118.00 | -23,764.00 | 92,532.00 |
| EBIT | -71,596.00 | 943,823.00 | 191,568.00 | 421,396.00 |
| Deprecation and Amortization | 138,611.00 | 195,762.00 | 203,734.00 | 219,755.00 |
| EBITDA | 67,015.00 | 1,139,585.00 | 395,302.00 | 641,151.00 |
| EPS | -0.01 | 0.01 | -0.00 | 0.01 |
| Diluted EPS | -0.01 | 0.01 | -0.00 | 0.01 |
| Average Shares Outstanding Basic | 13,937.44 | 13,417.29 | 12,311.26 | 12,020.09 |
| Average Shares Outstanding Diluted | 13,937.44 | 15,288.22 | 12,311.26 | 12,020.09 |
| Breakdown | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|
| Operating Cash Flow | 62,464.00 | 170,059.00 | 239,551.00 | 293,497.00 |
| Operating Net Income | -302,466.00 | 583,270.00 | -81,597.00 | 162,367.00 |
| Deprecation and Amortization | 138,611.00 | 195,762.00 | 203,734.00 | 219,755.00 |
| Deferred Income Tax | -13,037.00 | 89,596.00 | 51,409.00 | 71,035.00 |
| Share Based Compensation | 17,557.00 | 33,015.00 | 67,428.00 | 73,723.00 |
| Change in Working Capital | -45,120.00 | -39,212.00 | -6,744.00 | -58,625.00 |
| Other Operating Activities | 266,919.00 | -692,372.00 | 5,321.00 | -174,758.00 |
| Investing Cash Flow | -1,091,555.00 | 212,049.00 | 11,695.00 | -269,968.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -64,804.00 | -42,920.00 | -32,701.00 | -31,725.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 3,613.00 | 0 | 0 | 0 |
| Other Investing Activities | -1,030,364.00 | 254,969.00 | 44,396.00 | 0 |
| Financing Cash Flow | -170,203.00 | -355,741.00 | -127,189.00 | 605,240.00 |
| Net Issuance/Repayment of Debt | -158,325.00 | -346,185.00 | -99,732.00 | 617,722.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | -10.00 |
| Other Financing Activities | 0 | -9,556.00 | -27,457.00 | -12,472.00 |
| Net Change in Cash | -1,199,294.00 | 26,367.00 | 124,057.00 | 628,769.00 |
| Cash at Beginning of Period | 1,669,089.00 | 1,677,792.00 | 1,449,593.00 | 818,378.00 |
| Cash at End of Period | 552,064.00 | 1,669,089.00 | 1,677,792.00 | 1,449,593.00 |
| Free Cash Flow | -2,392.00 | 113,872.00 | 206,779.00 | 260,610.00 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Assets | 6,926,007.00 | 6,754,282.00 | 7,125,166.00 | 6,945,179.00 | 6,332,161.00 |
| Current Assets | 840,510.00 | 872,351.00 | 1,154,938.00 | 1,021,272.00 | 1,264,645.00 |
| Cash and Short-Term Investments | 483,047.00 | 547,797.00 | 798,056.00 | 552,629.00 | 1,077,618.00 |
| Cash and Cash Equivalents | 482,605.00 | 547,386.00 | 797,371.00 | 552,064.00 | 1,077,399.00 |
| Short-Term Investments | 442.00 | 411.00 | 685.00 | 565.00 | 219.00 |
| Net Receivables | 61,513.00 | 71,370.00 | 91,114.00 | 188,183.00 | 70,190.00 |
| Inventory | 0 | 0 | 0 | 1,457.00 | 0 |
| Other Current Assets | 0 | 0 | 0 | 279,003.00 | 0 |
| Non-Current Assets | 6,085,497.00 | 5,881,931.00 | 5,970,228.00 | 5,923,907.00 | 5,067,516.00 |
| Property, Plant, Equipment Net | 2,653,619.00 | 2,485,903.00 | 2,428,957.00 | 2,277,143.00 | 1,838,641.00 |
| Goodwill | 2,545,357.00 | 2,499,892.00 | 2,613,409.00 | 2,612,972.00 | 2,487,797.00 |
| Intangible Assets | 461,403.00 | 470,211.00 | 487,298.00 | 497,466.00 | 685,673.00 |
| Long-Term Investments | 17,662.00 | 14,921.00 | 12,953.00 | 0 | 6,222.00 |
| Non-Current Deferred Assets | 4,038.00 | 3,351.00 | 2,791.00 | 419,490.00 | 2,515.00 |
| Other Non-Current Assets | 403,418.00 | 407,653.00 | 424,820.00 | 0 | 46,668.00 |
| Liabilities | 4,677,984.00 | 4,475,085.00 | 4,681,694.00 | 4,448,474.00 | 3,689,467.00 |
| Current Liabilities | 204,351.00 | 171,676.00 | 204,979.00 | 256,578.00 | 290,058.00 |
| Payables and Expenses | 112,417.00 | 91,083.00 | 99,377.00 | 186,353.00 | 161,849.00 |
| Account Payables | 111,577.00 | 89,990.00 | 92,664.00 | 107,952.00 | 157,467.00 |
| Current Accrued Liabilities | 0 | 0 | 0 | 20,849.00 | 0 |
| Short-Term Debt | 0 | 0 | 0 | 2,038.00 | 16,911.00 |
| Other Current Liabilities | 0 | 0 | 0 | 68,187.00 | 111,298.00 |
| Non-Current Liabilities | 4,473,633.00 | 4,303,409.00 | 4,476,715.00 | 4,191,896.00 | 3,399,409.00 |
| Long-Term Debt | 3,309,132.00 | 3,186,770.00 | 3,353,208.00 | 3,127,952.00 | 2,911,284.00 |
| Other Non-Current Liabilities | 1,164,501.00 | 1,116,639.00 | 1,123,507.00 | 1,063,944.00 | 488,125.00 |
| Equity | 2,248,023.00 | 2,279,197.00 | 2,443,472.00 | 2,496,705.00 | 2,642,694.00 |
| Shareholders Equity | 667,024.00 | 676,265.00 | 708,616.00 | 710,280.00 | 746,504.00 |
| Capital Stock | 68,530.00 | 68,426.00 | 65,971.00 | 59,082.00 | 56,467.00 |
| Share Premium | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 452,125.00 | 487,342.00 | 456,692.00 | 467,333.00 | 585,522.00 |
| Treasury Shares | 0 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | 146,369.00 | 120,497.00 | 185,953.00 | 183,865.00 | 104,515.00 |
| Minority Interest | 1,580,999.00 | 1,602,932.00 | 1,734,856.00 | 1,786,425.00 | 1,896,190.00 |
| Debt | 3,309,132.00 | 3,186,770.00 | 3,353,208.00 | 3,129,990.00 | 2,928,195.00 |
| Net Debt | 2,826,527.00 | 2,639,384.00 | 2,555,837.00 | 2,544,551.00 | 1,850,796.00 |
| Common Shares Outstanding | 14,798.22 | 14,795.16 | 14,475.38 | 14,192.85 | 14,052.93 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Revenues | 101,060.00 | 106,106.00 | 116,749.00 | 127,995.00 | 138,441.00 |
| Cost Of Revenue | 4,772.00 | 4,344.00 | 6,718.00 | 9,970.00 | 6,214.00 |
| Interest Income | 5,986.00 | 6,834.00 | 6,473.00 | 8,997.00 | 15,706.00 |
| Interest Expense | 54,465.00 | 53,631.00 | 56,929.00 | 57,976.00 | 59,481.00 |
| Non-Interest Expense | 22,439.00 | 21,553.00 | 26,073.00 | 34,574.00 | 22,085.00 |
| Gross Profit | 96,288.00 | 101,762.00 | 110,031.00 | 118,025.00 | 132,227.00 |
| Operating Expenses | 90,562.00 | 88,240.00 | 83,132.00 | 78,368.00 | 74,761.00 |
| Selling, General and Administrative Expenses | 22,439.00 | 21,553.00 | 26,073.00 | 34,574.00 | 22,085.00 |
| Other Operating Expenses | 30,641.00 | 50,687.00 | 20,251.00 | 13,893.00 | 17,636.00 |
| Operating Income | 5,726.00 | 17,866.00 | 26,899.00 | 39,657.00 | 57,466.00 |
| EBT | -137,904.00 | 79,327.00 | -50,539.00 | -500,459.00 | 73,006.00 |
| Income Tax | -16,821.00 | 3,798.00 | 918.00 | -53,229.00 | 5,164.00 |
| Net Income Including Non-Controlling Interests | -121,083.00 | 75,529.00 | -51,457.00 | -447,230.00 | 67,842.00 |
| Net Income Non-Controlling Interests | 85,814.00 | -54,533.00 | 35,919.00 | 320,919.00 | -49,941.00 |
| Net Income | -35,269.00 | 20,996.00 | -15,538.00 | -126,311.00 | 17,901.00 |
| EBIT | -83,439.00 | 132,958.00 | 6,390.00 | -442,483.00 | 132,487.00 |
| Deprecation and Amortization | 37,482.00 | 37,553.00 | 36,808.00 | 29,901.00 | 35,040.00 |
| EBITDA | -45,957.00 | 170,511.00 | 43,198.00 | -412,582.00 | 167,527.00 |
| EPS | -0.00 | 0.00 | -0.00 | -0.01 | 0.00 |
| Diluted EPS | -0.00 | 0.00 | -0.00 | -0.01 | 0.00 |
| Average Shares Outstanding Basic | 14,797.24 | 14,684.49 | 14,381.20 | 14,083.70 | 14,046.26 |
| Average Shares Outstanding Diluted | 14,797.24 | 16,562.44 | 14,381.20 | 14,083.70 | 16,059.10 |
| Breakdown | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 |
|---|---|---|---|---|---|
| Operating Cash Flow | -11,346.00 | -30,668.00 | 138,924.00 | -1,692.00 | -3,329.00 |
| Operating Net Income | -121,083.00 | 75,529.00 | -51,457.00 | -447,230.00 | 67,842.00 |
| Deprecation and Amortization | 37,482.00 | 37,553.00 | 36,808.00 | 29,901.00 | 35,040.00 |
| Deferred Income Tax | -16,821.00 | 3,798.00 | 918.00 | -53,229.00 | 5,164.00 |
| Share Based Compensation | 3,018.00 | 2,351.00 | 3,241.00 | 3,053.00 | 3,061.00 |
| Change in Working Capital | -33,606.00 | -9,925.00 | 118,772.00 | 30,527.00 | -46,437.00 |
| Other Operating Activities | 119,664.00 | -139,974.00 | 30,642.00 | 435,286.00 | -67,999.00 |
| Investing Cash Flow | -127,203.00 | -182,155.00 | -230,557.00 | -557,425.00 | -314,212.00 |
| Capital Expenditure | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of PPE | -30,333.00 | -35,201.00 | -34,744.00 | -16,866.00 | -16,213.00 |
| Net Purchase/Sale of Investments Net | 0 | 0 | 0 | 0 | 0 |
| Net Purchase/Sale of Business | 0 | 0 | 0 | 2,400.00 | 0 |
| Other Investing Activities | 0 | 0 | 0 | -542,959.00 | 0 |
| Financing Cash Flow | 64,057.00 | -8,089.00 | 332,507.00 | -12,120.00 | -21,092.00 |
| Net Issuance/Repayment of Debt | 64,373.00 | -5,538.00 | 339,485.00 | -8,609.00 | -19,951.00 |
| Net Issuance/Repurchase of Equity | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | -316.00 | -2,551.00 | -6,978.00 | -3,511.00 | -1,141.00 |
| Net Change in Cash | -74,492.00 | -220,912.00 | 240,874.00 | -571,237.00 | -338,633.00 |
| Cash at Beginning of Period | 547,386.00 | 797,371.00 | 552,064.00 | 1,077,399.00 | 1,427,238.00 |
| Cash at End of Period | 482,605.00 | 547,386.00 | 797,371.00 | 552,064.00 | 1,077,399.00 |
| Free Cash Flow | -41,679.00 | -65,869.00 | 104,180.00 | -18,558.00 | -19,542.00 |