Telesat Balance Sheet

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	522.73	509.8	552.06	1,669	1,678	1,450
Cash & Short-Term Investments	522.73	509.8	552.06	1,669	1,678	1,450
Cash Growth	-34.44%	-7.66%	-66.92%	-0.52%	15.74%	77.13%
Accounts Receivable	58.82	58.42	158.93	78.29	41.25	122.7
Other Current Assets	276.26	263.84	310.28	69.31	69.25	45.14
Total Current Assets	857.81	832.06	1,021	1,817	1,788	1,617
Net Property, Plant & Equipment	2,885	2,717	2,277	1,260	1,364	1,430
Other Intangible Assets	435.54	442.28	497.47	692.76	756.88	762.66
Goodwill	2,158	2,215	2,613	2,447	2,447	2,447
Long-Term Investments	17.16	18.28	9.77	6.63	10.48	16.35
Other Long-Term Assets	338.21	379.88	526.56	90.39	113.26	89.72
Total Assets	6,692	6,604	6,945	6,313	6,480	6,362
Accounts Payable	88.85	57.45	158.28	43.63	43.56	54.63
Short-Term Debt	2,375	2,341	-	-	-	-
Current Portion of Leases	889.85	857.64	26.48	29.06	48.4	36.65
Other Current Liabilities	59.75	61.2	71.82	65.04	79.44	90.68
Total Current Liabilities	3,413	3,317	256.58	137.73	171.4	181.96
Long-Term Debt	1,270	1,152	3,097	3,197	3,850	3,793
Long-Term Leases	9.79	10.09	630.56	14.94	19.66	23.84
Other Long-Term Liabilities	335.04	354.2	464.73	564.7	598.3	667.77
Total Long-Term Liabilities	1,615	1,517	4,192	3,777	4,468	4,484
Total Liabilities	5,028	4,834	4,448	3,914	4,639	4,666
Common Stock	87.12	70	59.08	51.25	46.55	42.84
Accumulated Other Comprehensive Income	147.19	130.01	183.87	76.61	78.61	22.8
Retained Earnings	284.71	330.81	467.33	534.06	356.27	350.03
Total Common Shareholders' Equity	519.02	530.82	710.28	661.92	481.44	415.67
Minority Interest	1,145	1,239	1,786	1,737	1,359	1,281
Shareholders' Equity	1,664	1,770	2,497	2,399	1,840	1,696
Total Liabilities & Equity	6,692	6,604	6,945	6,313	6,480	6,362
Total Debt	4,544	4,361	3,754	3,241	3,918	3,853
Net Cash (Debt)	-4,022	-3,852	-3,202	-1,572	-2,240	-2,403
Net Cash Per Share	-263.10	-263.07	-229.71	-102.82	-0.18	-0.20
Book Value	519.02	530.82	710.28	661.92	481.44	415.67
Book Value Per Share	33.95	36.26	50.96	43.30	0.04	0.03
Tangible Book Value	-2,075	-2,126	-2,400	-2,477	-2,722	-2,794
Tangible Book Value Per Share	-135.72	-145.22	-172.21	-162.05	-0.22	-0.23

Updated May 5, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q