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Globalstar Balance Sheet 2025-2008 | GSAT
Brief overview of Globalstar's balance sheet strength
Balance sheet changes are traced across five available annual reports between 2018 and 2025.
Assets advanced +122.5% to $2.3 billion from $1 billion; annual growth near 12.1% reflects a fast increase in scale.
Liabilities grew faster than assets: +187% versus +122.5%. A substantial part of expansion was externally funded.
The equity ratio equals 15.3%, with a starting level of 34.3%. Stable cash flow is important under this structure.
Net debt to equity stands at 0.04x; the current burden does not look excessive.
Cash represents 19.2% of assets versus 1.5% initially, showing how the immediate liquidity reserve changed.
Retained earnings are negative at -$2.1 billion. This reduces the formal capital cushion, although large shareholder returns may have contributed.
Overall assessment
Globalstar has limited balance sheet resilience and depends heavily on cash generation and refinancing capacity.
Annual Balance Sheet Globalstar
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
12.5 M | 89.9 M | 272 M | 103 M | 226 M | 315 M | 473 M | 448 M | 472 M | 566 M | 632 M | 623 M | 652 M | 739 M | 714 M | 632 M | - | - |
Long Term Debt |
452 M | 477 M | 326 M | 132 M | 238 M | 327 M | 464 M | 367 M | 435 M | 501 M | 606 M | 624 M | 665 M | 95.2 M | 724 M | 665 M | - | - |
Long Term Debt Current |
8 M | 4.25 M | 3 M | 2.75 M | 2.5 M | 1.33 M | 1.63 M | 96.2 M | 79.2 M | 75.8 M | 32.8 M | 6.45 M | 4.05 M | 656 M | - | - | - | - |
Total Non Current Liabilities |
1.77 B | 1.21 B | 369 M | 227 M | 387 M | 351 M | 495 M | 527 M | 678 M | 798 M | 889 M | 1.11 B | 1.12 B | 148 M | 795 M | 760 M | - | - |
Total Current Liabilities |
205 M | 141 M | 176 M | 197 M | 61.6 M | 114 M | 63.1 M | 160 M | 160 M | 172 M | 107 M | 79.2 M | 140 M | 761 M | 91.6 M | 91.2 M | - | - |
Total Liabilities |
1.97 B | 1.35 B | 545 M | - | - | - | 558 M | 687 M | 838 M | 971 M | 996 M | 1.19 B | 1.26 B | 909 M | 887 M | - | - | - |
Deferred Revenue |
62 M | 61.2 M | 53.7 M | 74.6 M | 25.9 M | 26 M | 29.9 M | 31.9 M | 31.7 M | 26.5 M | 23.9 M | 21.7 M | 17.3 M | 18 M | 17.8 M | 16.1 M | - | - |
Retained Earnings |
-2.14 B | -2.13 B | -2.06 B | -2.04 B | -1.78 B | -1.67 B | -1.56 B | -1.57 B | -1.57 B | -1.48 B | -1.35 B | -1.42 B | -959 M | -368 M | -256 M | -201 M | - | - |
Total Assets |
2.33 B | 1.71 B | 924 M | 738 M | 814 M | 888 M | 966 M | 1.05 B | 1.13 B | 1.13 B | 1.23 B | 1.27 B | 1.37 B | 1.4 B | 1.42 B | 1.39 B | - | - |
Cash and Cash Equivalents |
447 M | 391 M | 56.7 M | 32.1 M | 14.3 M | 13.3 M | 7.61 M | 15.2 M | 41.6 M | 10.2 M | 7.48 M | 7.12 M | 17.4 M | 11.8 M | 9.95 M | 33 M | 67.9 M | 12.4 M |
Book Value |
356 M | 359 M | 379 M | 738 M | 814 M | 888 M | 407 M | 359 M | 291 M | 162 M | 237 M | 78.9 M | 117 M | 495 M | 534 M | 1.39 B | - | - |
Total Shareholders Equity |
356 M | 359 M | 379 M | 315 M | 365 M | 423 M | 407 M | 359 M | 291 M | 162 M | 237 M | 78.9 M | 117 M | 495 M | 534 M | 535 M | 596 M | 445 M |
All numbers in USD currency
Quarterly Balance Sheet Globalstar
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
432 M | 485 M | 469 M | 472 M | 477 M | 360 M | 359 M | 364 M | 307 M | 307 M | 182 M | 132 M | 262 M | 257 M | 247 M | 238 M | 287 M | 313 M | 336 M | 327 M | 327 M | 327 M | 327 M | 464 M | 464 M | 464 M | 464 M | 367 M | 367 M | 367 M | 367 M | 435 M | 435 M | 435 M | 435 M | 501 M | 501 M | 501 M | 501 M | 548 M | 548 M | 548 M | 548 M | 624 M | 624 M | 624 M | 624 M | 665 M | 665 M | 665 M | 665 M | 95.2 M | 95.2 M | 95.2 M | 95.2 M | 724 M | 724 M | 724 M | 724 M |
Total Non Current Liabilities |
1.78 B | 1.64 B | 1.42 B | 1.26 B | 1.21 B | 407 M | 405 M | 404 M | 343 M | 343 M | 372 M | 227 M | 464 M | 475 M | 398 M | 387 M | 418 M | 403 M | 364 M | 351 M | 351 M | 351 M | 351 M | 495 M | 495 M | 495 M | 495 M | 527 M | 527 M | 527 M | 527 M | 678 M | 678 M | 678 M | 678 M | 798 M | 798 M | 798 M | 798 M | 831 M | 831 M | 831 M | 831 M | 1.11 B | 1.11 B | 1.11 B | 1.11 B | 1.12 B | 1.12 B | 1.12 B | 1.12 B | 148 M | 148 M | 148 M | 148 M | 795 M | 795 M | 795 M | 795 M |
Total Liabilities |
2.03 B | 1.8 B | 1.55 B | 1.38 B | 1.35 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
54 M | 61.6 M | 51.2 M | 54 M | 61.2 M | 46.5 M | 57.7 M | 53.8 M | 58.1 M | 56.7 M | 80.9 M | 74.6 M | 53.1 M | 39.9 M | 37.2 M | 25.9 M | 26.5 M | 26.8 M | 25.9 M | 26 M | 26 M | 26 M | 26 M | 29.9 M | 29.9 M | 29.9 M | 29.9 M | 31.9 M | 35 M | 31.9 M | 31.8 M | 31.7 M | 33.1 M | 29.5 M | 26.9 M | 26.5 M | 26.5 M | 26.5 M | 26.5 M | 23.9 M | 23.9 M | 23.9 M | 23.9 M | 21.7 M | 21.7 M | 21.7 M | 21.7 M | 17.3 M | 17.3 M | 17.3 M | 17.3 M | 18 M | 18 M | 18 M | 18 M | 14.6 M | 14.6 M | 14.6 M | 14.6 M |
Retained Earnings |
-2.15 B | -2.13 B | -2.13 B | -2.15 B | -2.13 B | -2.08 B | -2.09 B | -2.08 B | -2.05 B | -2.04 B | -2.04 B | -2.04 B | -2.03 B | -1.83 B | -1.8 B | -1.78 B | -1.76 B | -1.73 B | -1.71 B | -1.67 B | -1.67 B | -1.67 B | -1.67 B | -1.56 B | -1.56 B | -1.56 B | -1.56 B | -1.57 B | -1.57 B | -1.57 B | -1.57 B | -1.57 B | -1.57 B | -1.57 B | -1.57 B | -1.48 B | -1.48 B | -1.48 B | -1.48 B | -1.35 B | -1.35 B | -1.35 B | -1.35 B | -1.42 B | -1.42 B | -1.42 B | -1.42 B | -959 M | -959 M | -959 M | -959 M | -368 M | -368 M | -368 M | -368 M | -256 M | -256 M | -256 M | -256 M |
Total Assets |
2.38 B | 2.16 B | 1.91 B | 1.73 B | 1.71 B | 918 M | 926 M | 917 M | 911 M | 832 M | 845 M | 738 M | 747 M | 944 M | 850 M | 814 M | 884 M | 876 M | 913 M | 888 M | 888 M | 888 M | 888 M | 966 M | 966 M | 966 M | 966 M | 1.05 B | 1.05 B | 1.05 B | 1.05 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.18 B | 1.18 B | 1.18 B | 1.18 B | 1.27 B | 1.27 B | 1.27 B | 1.27 B | 1.37 B | 1.37 B | 1.37 B | 1.37 B | 1.4 B | 1.4 B | 1.4 B | 1.4 B | 1.42 B | 1.42 B | 1.42 B | 1.42 B |
Cash and Cash Equivalents |
358 M | 346 M | 308 M | 241 M | 391 M | 51.9 M | 64.3 M | 59.3 M | 64.1 M | 65.3 M | 20.5 M | 32.1 M | 14.7 M | 13.1 M | 11.5 M | 14.3 M | 62.4 M | 66.7 M | 8.37 M | 68 M | 13.3 M | 13.3 M | 13.3 M | 7.61 M | 7.61 M | 7.61 M | 7.61 M | 15.2 M | 15.2 M | 15.2 M | 15.2 M | 41.6 M | 41.6 M | 41.6 M | 41.6 M | 10.2 M | 10.2 M | 10.2 M | 10.2 M | 7.48 M | 7.48 M | 7.48 M | 7.48 M | 7.12 M | 7.12 M | 7.12 M | 7.12 M | 17.4 M | 17.4 M | 17.4 M | 17.4 M | 11.8 M | 11.8 M | 11.8 M | 11.8 M | 9.95 M | 9.95 M | 9.95 M | 9.95 M |
Book Value |
343 M | 365 M | 361 M | 344 M | 359 M | 918 M | 926 M | 917 M | 911 M | 832 M | 845 M | 738 M | 747 M | 944 M | 850 M | 814 M | 884 M | 876 M | 913 M | 888 M | 888 M | 888 M | 888 M | 966 M | 966 M | 966 M | 966 M | 1.05 B | 1.05 B | 1.05 B | 1.05 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.13 B | 1.18 B | 1.18 B | 1.18 B | 1.18 B | 1.27 B | 1.27 B | 1.27 B | 1.27 B | 1.37 B | 1.37 B | 1.37 B | 1.37 B | 1.4 B | 1.4 B | 1.4 B | 1.4 B | 1.42 B | 1.42 B | 1.42 B | 1.42 B |
Total Shareholders Equity |
343 M | 365 M | 361 M | 344 M | 359 M | 394 M | 383 M | 377 M | 383 M | 315 M | 310 M | 315 M | 136 M | 329 M | 349 M | 365 M | 385 M | 412 M | 436 M | 423 M | 423 M | 423 M | 423 M | 407 M | 407 M | 407 M | 407 M | 359 M | 359 M | 359 M | 359 M | 291 M | 291 M | 291 M | 291 M | 162 M | 162 M | 162 M | 162 M | 237 M | 237 M | 237 M | 237 M | 78.9 M | 78.9 M | 78.9 M | 78.9 M | 117 M | 117 M | 117 M | 117 M | 495 M | 495 M | 495 M | 495 M | 534 M | 534 M | 534 M | 534 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Globalstar, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
Balance sheet of other industry stocks – Communication services
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