EchoStar looks cheap at a 5.8x forward P/E with 27.2% upside to the analyst target, but it is cash-burning (free cash flow at -129% of revenue), revenue is shrinking 4%, and the chart is in a confirmed downtrend with 22% short interest.
Thesis pillars
- Cash Burn Weak Quality→Stable
- Declining Revenue Base→Stable
- Cheap Forward Valuation Upside→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Oct 24, 2026, based on the 10-K filed Mar 2, 2026
EchoStar Corporation (ECHO) Stock Analysis
Recovery setup
Communication Services · Telecom Services
Sell if holding. Engine safety override at $94.30: Quality below floor (2.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.0/10 and A.R:R 1.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 22%; Elevated put/call ratio: 1.56; Below-average business quality.
EchoStar Corporation is a holding company operating four segments — Pay-TV (DISH® and SLING® TV, 6.998 million subscribers), Wireless (Boost Mobile® and Gen Mobile®, 7.511 million subscribers), Broadband and Satellite Services (739,000 subscribers), and Other — after... Read more
Sell if holding. Engine safety override at $94.30: Quality below floor (2.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.0/10 and A.R:R 1.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 22%; Elevated put/call ratio: 1.56; Below-average business quality. Chart setup: Death cross but MACD improving, RSI 51. Score 5.0/10, moderate confidence.
Passes 6/9 gates (positive momentum, favorable risk/reward ratio, clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on earnings proximity 7d<=7d. Suitability: moderate.
About EchoStar Corporation
About EchoStar Corporation
EchoStar Corporation operates four segments generating revenue from 6.998 million Pay-TV subscribers under the DISH and SLING brands, 7.511 million Wireless subscribers under Boost Mobile and Gen Mobile, and 739,000 Broadband subscribers, following a 2025 pivot away from its own 5G Network after the FCC determined the company's spectrum utilization was inconsistent with the public interest.
EchoStar's Pay-TV segment earns subscription revenue from DISH satellite television and SLING TV streaming services, competing against larger cable, satellite, and internet-based video providers; SLING subscribers generate lower average revenue per user than DISH TV subscribers, and continued mix shift toward SLING has weighed on blended Pay-TV ARPU. The Wireless segment sells nationwide service under the Boost Mobile and Gen Mobile brands and, following the AT&T Transactions, operates as a Hybrid MNO in which EchoStar runs its own network core and billing systems while AT&T supplies radio access network infrastructure and spectrum through December 2031, with two additional two-year extension options available. Broadband and Satellite Services provides consumer and enterprise satellite connectivity, including in-flight connectivity for commercial and business aviation, and depends on continuous utilization of EchoStar's available satellite capacity to generate revenue.
Show full overview
EchoStar's Wireless segment now runs on a two-counterparty network dependency: the 10-K states the company depends on T-Mobile and AT&T under the MNSA and NSA agreements to provide network services to its Wireless subscribers, and any system failure or termination of either agreement could materially harm results. This dependency deepened after the FCC's 2025 review forced EchoStar to abandon its own 5G Network buildout and sell spectrum to AT&T for up to $22.65 billion and to SpaceX for up to $20 billion, transactions that remain subject to FCC and Department of Justice approval and are not expected to close before the first half of 2026.
See also: Communication Services · Telecom Services
From EchoStar Corporation's most recent 10-K filing, extracted July 6, 2026.
Recent developments
updated 2026-10-29Recent Developments — EchoStar Corporation
Latest news
- NEWS 10 Communication Services Stocks Whale Activity In Today’s Session — benzinga Oct 28, 2026 neutral
- NEWS EchoStar Corporation Joins Agentic AI Foundation — fiscal.ai Oct 22, 2026 neutral
- NEWS SpaceX Jumps 10%, Nasdaq 100 Rises as AI Trade Returns: Stock Market Today — benzinga Oct 21, 2026 neutral
- NEWS Winnebago Industries Posts Upbeat Q4 Earnings, Joins SpaceX, Super Micro Computer And Other Big Stocks Moving Higher On — benzinga Oct 21, 2026 neutral
- NEWS This Semtech Analyst Turns Bullish; Here Are Top 5 Upgrades For Friday — benzinga Oct 16, 2026 neutral
Generated 2026-10-29T11:48:39Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMSupplierT-Mobile and AT&T network services10-K Item 1A: 'Through the MNSA and the NSA, we depend on T-Mobile and AT&T to provide network services to our Wireless subscribers.'
Material Events(8-K, last 90d)
- 2026-06-25Item 5.02MEDIUMDean Manson resigned as Chief Legal Officer and Secretary effective June 26, 2026, after 26 years with EchoStar and Hughes Network Systems, and will remain as Senior Advisor during the transition. The filing indicates EVP of Government Affairs Jeffrey Blum will take on related responsibilities, though further detail was not captured in the retrieved text.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
3 floor-breakers
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Unprofitable operations — net margin -38.7%. Quality floor flags this regardless of sector context.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $94.30: Quality below floor (2.6 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.0/10 and A.R:R 1.6:1 is above the 1.5:1 BUY gate. Specifically: High short interest: 22%; Elevated put/call ratio: 1.56; Below-average business quality. Chart setup: Death cross but MACD improving, RSI 51. Prior stop was $87.70. Score 5.0/10, moderate confidence.
Analyst target: $113.27 (+20.1% upside). Prior stop was $87.70. Stop-loss: $87.70.
Quality below floor (2.6 < 4.0).
EchoStar Corporation trades at a P/E of N/A (forward 6.1). TrendMatrix value score: 7.3/10. Verdict: Sell.
13 analysts cover ECHO with a consensus score of 4.2/5. Average price target: $130.
What does EchoStar Corporation do?EchoStar Corporation is a holding company operating four segments — Pay-TV (DISH® and SLING® TV, 6.998 million...
EchoStar Corporation is a holding company operating four segments — Pay-TV (DISH® and SLING® TV, 6.998 million subscribers), Wireless (Boost Mobile® and Gen Mobile®, 7.511 million subscribers), Broadband and Satellite Services (739,000 subscribers), and Other — after transitioning to a Hybrid MNO model reliant on AT&T's network. In 2025, the company agreed to sell a material portion of its spectrum to AT&T for up to $22.65 billion and to SpaceX for up to $20 billion.