EchoStar Corporation — Earnings Quality Grade F
SATS · Communication Services
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 31 days, change +3 days YoY
AR outpaced revenue for 2 consecutive years
Revenue -5.2%, CFFO -107.9%. Cash follows revenue
Expense Quality
Inventory -16.4% vs COGS -5.5%. Normal
CapEx growth -34.3% vs revenue -5.2%. Normal
SG&A/Gross Profit = 61.4%. Normal
Gross margin 25.8%, change +0.2pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-1.7B)
Accruals ratio = -33.5%. Low accruals
Cash $3.0B covers only 10% of debt $30.1B
Balance Sheet Health
Goodwill+Intangibles $34.6B = 600% of equity. Over 50%
Interest coverage = -0.1x (<2x). Financial stress
Other assets -7.1% vs revenue -5.2%. Normal
Write-offs normal
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change -12% YoY. Normal
Manipulation Score
M-Score = -4.10 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-10