Telesat Corporation (TSAT)

Telesat Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	-156.12	-87.72	157.12	-23.76	92.53	244.82
Depreciation & Amortization	141.51	138.37	195.52	203.73	219.76	234.08
Other Amortization	0.24	0.24	0.24	-	-	-
Loss (Gain) From Sale of Assets	-3.9	-2.09	-0.06	-0.01	0.85	0.22
Asset Writedown & Restructuring Costs	267.02	267.02	79.74	-	-	-
Stock-Based Compensation	11.66	17.56	33.02	67.43	73.72	12.5
Other Operating Activities	-270.95	-225.8	-256.31	-1.1	-34.74	-134.95
Change in Accounts Receivable	94.19	-13.8	-24.43	2.3	-55.43	-4.17
Change in Accounts Payable	21.42	18.28	-4.09	-7.07	14.07	1.86
Change in Other Net Operating Assets	-9.83	-49.6	-10.7	-1.97	-17.27	17.33
Operating Cash Flow	95.22	62.46	170.06	239.55	293.5	371.68
Operating Cash Flow Growth	23.30%	-63.27%	-29.01%	-18.38%	-21.04%	-1.05%
Capital Expenditures	-1,105	-1,110	-126.24	-64.51	-311.67	-92.2
Sale of Property, Plant & Equipment	4.52	-	-	-	-	-
Divestitures	2.64	3.61	-	-	-	-
Sale (Purchase) of Intangibles	-	-0.05	-13.27	-0.07	-1.16	-0.03
Other Investing Activities	0.33	15.36	351.56	76.27	42.86	-
Investing Cash Flow	-1,097	-1,092	212.05	11.7	-269.97	-92.23
Long-Term Debt Issued	-	-	-	-	619.9	-
Long-Term Debt Repaid	-	-158.33	-346.19	-99.73	-2.18	-455.39
Net Debt Issued (Repaid)	389.71	-158.33	-346.19	-99.73	617.72	-455.39
Issuance of Common Stock	0.43	0.43	0.03	-	0.02	-
Repurchase of Common Stock	-10.78	-7.73	-3.2	-	-	-
Preferred Dividends Paid	-	-	-	-	-0.01	-0.01
Dividends Paid	-	-	-	-	-0.01	-0.01
Other Financing Activities	-3	-4.57	-6.39	-27.46	-12.49	5.15
Financing Cash Flow	376.36	-170.2	-355.74	-127.19	605.24	-450.24
Foreign Exchange Rate Adjustments	30.97	82.27	-35.07	104.14	2.45	-38.05
Net Cash Flow	-594.79	-1,117	-8.7	228.2	631.22	-208.84
Free Cash Flow	-1,010	-1,048	43.82	175.05	-18.17	279.48
Free Cash Flow Growth	-	-	-74.97%	-	-	-23.14%
Free Cash Flow Margin	-223.41%	-183.53%	6.22%	23.06%	-2.40%	34.06%
Free Cash Flow Per Share	-69.79	-75.19	2.87	14.22	-0.39	5.61
Cash Interest Paid	210.24	231.32	271.93	184.78	158.81	188.97
Cash Income Tax Paid	11.7	60.51	66.84	98.14	94.24	53.44
Levered Free Cash Flow	-1,274	-1,169	254.76	305.25	54.01	328.37
Unlevered Free Cash Flow	-1,135	-1,017	423.2	442.36	169.2	453.16
Change in Working Capital	105.77	-45.12	-39.21	-6.74	-58.63	15.02

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q