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Forensic Analysis · Satellite & Other Communications · as of Nov 9, 2026

Globalstar, Inc. (GSAT)

A forensic read on Globalstar, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective
Forensic grade
Clean
Earnings quality
2
Forensic signals
-2.4%
ROE
9.0%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Globalstar, Inc. earns a C (Mixed — selective) forensic quality grade. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

0.4%
FY2025
Return on invested capital. Return on invested capital is 0.4% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.5-point range. After-tax operating profit was ($130,350) in FY2023 and $6M in FY2025, with operating income at -0.1% of revenue in FY2023, -0.4% in FY2024 and 2.7% in FY2025. The capital base behind it grew +101% across FY2023–FY2025, from $726M to $1.5B, and the return did not fall doing it, so the dollars added over that window earned at least the 0.0% the older base was already earning.
-13%
FY2023→FY2024
Dividend — cut. The payout was CUT ~13% in FY2024 (from FY2023). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.

Key fundamentals

Latest Revenue$273.0M
Revenue Growth YoY+9.0%
Revenue CAGR (2yr)+10.4%
Net Margin-3.2%
Free Cash Flow$616.1M
Return on Equity-2.4%
Debt / Equity1.36x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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