Globalstar, Inc. (GSAT) Stock

Globalstar, Inc. (GSAT) is a Communication Services stock trading at $82.02 (as of 2026-08-20), with a market capitalization of $10.59B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Globalstar provides mobile and fixed satellite voice and data communications services and related equipment for uses such as remote communications and safety. It also sells SPOT consumer satellite GPS and tracking products, offers one-way IoT data transmission for asset and utility monitoring, provides wholesale airtime, and supplies engineering, gateway, and antenna services.

Understand Globalstar, Inc.: how it makes money

Globalstar provides mobile satellite communications, including duplex two-way voice and data services, fixed site voice and data services, and SPOT consumer satellite products, and it makes money primarily through recurring service revenue and wholesale capacity service revenue.

Profit is driven by recurring satellite communications monetization, reflected in Service Revenue, with additional contribution from Wholesale Capacity Service Revenue.

Revenue by segment (latest quarter)
Service	$0.1B
WholesaleCap	$0.0B

Business quality (Weak): The provided data supports a clear split between Service Revenue and Wholesale Capacity Service Revenue, but the KPI set is heavier on service metrics than on equipment, so quarter-to-quarter performance looks most tied to usage monetization and service demand.

Bull case

Recurring services are the core of revenue: In the latest quarter, Service Revenue is the largest segment (0.07B), supplemented by Wholesale Capacity Service Revenue (0.03B), aligning with a usage-based satellite service model.
Commercial Internet of Things has an identified subscriber base: The company reports Average Commercial Internet of Things Subscribers of 543,000, indicating it tracks demand for its commercial IoT offering.
Profitability is positive in the latest quarter: The company reported an operating margin of 11.7% for the period ending 2026-03-31.

Bear case

Equipment revenue is not showing up in the provided segment candidates: Subscriber Equipment Sales Revenue is shown as 0.0 in the provided data, suggesting this quarter's results may be more dependent on service monetization than on device or equipment sales.
Service monetization can vary by offering: The company tracks Average Monthly Revenue per User separately by service type (Duplex, SPOT, and Commercial Internet of Things), so results can be sensitive if any subset of users underperforms.
Ongoing network expansion introduces execution risk: The company reports approximate additions for satellites and infrastructure (for example, Operational C-3 Satellites planned additions, ground stations, and antennas), which can bring timing and delivery uncertainty.

Valuation — source: SEC EDGAR (first-party)
Price	$82.02
Market Cap	$10.59B
EV / EBITDA	105.8
Price / Book	36.19
Price / Sales	38.39
DCF Value (model)	$79.96
DCF Upside vs Price	-2.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$272.99M
Net Margin	-3.2%
Revenue Growth (YoY)	9.0%
EPS Growth (YoY)	-74.6%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.16 (grey)

Valuation vs Sector & Industry
Sector P/E (Communication Services)	24.4
Industry P/E (Communication)	17.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($309.28M)
Institutional Holders Tracked	10

Company
Sector	Communication Services
Industry	Communication
CEO	Paul E. Jacobs
Employees	389
Country	US
IPO Date	2006-11-02

Related Companies (Business model: Telecom Carrier; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.