Globalstar, Inc (GSAT) Balance Sheet
GSAT balance sheet, 2025
December 31, 2025 · U.S. dollars$2.33B assets = $1.97B liabilities + $355.7M equity
Both columns are drawn to the same scale: what GSAT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
GSAT financial health
Descriptive bands, not a rating. Fiscal 2025.
GSAT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.13B2016 | $2.33B2025 | +8.3%/yr | |
| Total liabilities | $970.8M2016 | $1.97B2025 | +8.2%/yr | |
| Shareholders’ equity | $161.8M2016 | $355.7M2025 | +9.1%/yr | |
| Cash & short-term investments | $10.2M2016 | $447.5M2025 | +52.2%/yr | |
| Total debt | $576.4M2016 | $546.3M2025 | −0.6%/yr | |
| Net cash (debt) | −$566.1M2016 | −$98.9M2025 | +$467.3M | |
| Working capital | −$134.3M2016 | $291.2M2025 | +$425.6M | |
| Book value per share | $1.522016 | $2.812025 | +7.0%/yr | |
| Current ratio | 0.222016 | 2.422025 | +2.20 | |
| Debt / equity | 3.562016 | 1.542025 | −2.03 | |
| Shares outstanding | 106.4M2016 | 126.8M2025 | +2.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
GSAT assets
GSAT liabilities and equity
GSAT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
GSAT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $447.5M | $391.2M | $56.7M | $32.1M | $14.3M | $13.3M | $7.6M | $15.2M | $41.6M | $10.2M |
| Cash & equivalents | $447.5M | $391.2M | $56.7M | $32.1M | $14.3M | $13.3M | $7.6M | $15.2M | $41.6M | $10.2M |
| Short-term investments | — | — | — | — | — | — | — | — | $63.6M | $0 |
| Receivables | $20.0M | $27.0M | $48.7M | $26.3M | $21.2M | $22.1M | $21.8M | $19.3M | $17.1M | $15.2M |
| Inventory | $9.6M | $10.7M | $14.6M | $9.3M | $13.8M | $13.7M | $16.3M | $14.3M | $7.3M | $8.1M |
| Other current assets | $19.7M | $18.7M | $22.6M | $13.6M | $19.6M | $19.3M | $17.6M | $73.7M | $70.4M | $4.6M |
| Total current assets | $496.7M | $447.6M | $142.7M | $81.2M | $68.9M | $68.5M | $63.3M | $122.5M | $136.4M | $38.1M |
| Property, plant & equipment (net) | $1.37B | $705.5M | $658.2M | $591.2M | $704.2M | $730.3M | $815.8M | $882.7M | $971.1M | $1.04B |
| Goodwill & intangible assets | $122.9M | $115.8M | $91.3M | $30.5M | $31.0M | $27.5M | $25.2M | $5.2M | $2.0M | $16.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $2.1M | $2.1M | $2.1M | $4,000 |
| Other non-current assets | $334.5M | $441.4M | $32.2M | $130.5M | $10.1M | $61.8M | $59.2M | $33.0M | $17.7M | $38.0M |
| Total assets | $2.33B | $1.71B | $924.3M | $833.4M | $814.1M | $888.1M | $965.6M | $1.05B | $1.13B | $1.13B |
| Liabilities | ||||||||||
| Accounts payable | $12.4M | $5.0M | $2.0M | $3.8M | $6.2M | $2.9M | $8.0M | $7.0M | $6.0M | $7.5M |
| Short-term debt | $39.8M | $38.9M | $37.6M | $62.3M | $2.5M | $60.2M | $1.6M | $96.2M | $79.2M | $75.8M |
| Deferred revenue | $62.0M | $61.2M | $53.7M | $74.6M | $25.9M | $26.0M | $29.9M | $31.9M | $31.7M | $26.5M |
| Total current liabilities | $205.5M | $141.5M | $175.9M | $197.1M | $61.6M | $114.2M | $63.1M | $159.7M | $160.3M | $172.4M |
| Long-term debt | $452.0M | $476.8M | $325.7M | $132.1M | $237.9M | $326.6M | $464.2M | $367.2M | $434.7M | $500.5M |
| Lease obligations | $62.5M | $30.5M | $32.2M | $30.4M | $31.7M | $15.1M | $16.4M | $77,000 | $154,000 | $87,000 |
| Other long-term liabilities | $1.31B | $733.0M | $43.7M | $189.4M | $149.2M | $24.2M | $31.0M | $159.7M | $243.1M | $297.8M |
| Total liabilities | $1.97B | $1.35B | $545.3M | $518.6M | $448.7M | $465.0M | $558.2M | $686.5M | $838.0M | $970.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $13,000 | $13,000 | $188,000 | $181,000 | $180,000 | $167,000 | $146,000 | $145,000 | $126,000 | $110,000 |
| Retained earnings (deficit) | −$2.14B | −$2.13B | −$2.06B | −$2.04B | −$1.78B | −$1.67B | −$1.56B | −$1.57B | −$1.57B | −$1.48B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $3.3M | $13.5M | $5.1M | $9.2M | $1.9M | −$2.9M | −$3.4M | −$3.8M | −$6.9M | −$5.4M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $355.7M | $358.9M | $379.0M | $314.8M | $365.4M | $423.1M | $407.3M | $358.9M | $291.2M | $161.8M |
| Key figures | ||||||||||
| Total debt | $546.3M | $541.9M | $392.5M | $222.1M | $269.7M | $400.5M | $480.6M | $463.5M | $514.0M | $576.4M |
| Net cash (debt) | −$98.9M | −$150.8M | −$335.8M | −$190.0M | −$255.4M | −$387.1M | −$473.0M | −$448.3M | −$472.4M | −$566.1M |
| Working capital | $291.2M | $306.1M | −$33.3M | −$115.8M | $7.3M | −$45.7M | $200,000 | −$37.2M | −$23.9M | −$134.3M |
| Tangible book value | $232.8M | $243.1M | $287.7M | $284.3M | $334.4M | $395.5M | $382.1M | $353.7M | $289.3M | $145.0M |
| Book value per share | $2.81 | $2.85 | $2.07 | $1.75 | $2.07 | $2.58 | $2.46 | $2.83 | $2.50 | $1.52 |
| Shares outstanding | 126.8M | 125.9M | 183.5M | 180.1M | 176.5M | 164.2M | 165.5M | 127.0M | 116.7M | 106.4M |
| Current ratio | 2.42 | 3.16 | 0.81 | 0.41 | 1.12 | 0.60 | 1.00 | 0.77 | 0.85 | 0.22 |
| Quick ratio | 2.27 | 2.96 | 0.60 | 0.30 | 0.58 | 0.31 | 0.47 | 0.22 | 0.37 | 0.15 |
| Debt / equity | 1.54 | 1.51 | 1.04 | 0.71 | 0.74 | 0.95 | 1.18 | 1.29 | 1.77 | 3.56 |
| Equity / assets | 15.3% | 21.0% | 41.0% | 37.8% | 44.9% | 47.6% | 42.2% | 34.3% | 25.8% | 14.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $409.8M | $358.4M | $447.5M | $346.3M | $308.2M | $241.4M | $391.2M | $51.9M | $64.3M | $59.3M | $56.7M | $64.1M |
| Cash & equivalents | $409.8M | $358.4M | $447.5M | $346.3M | $308.2M | $241.4M | $391.2M | $51.9M | $64.3M | $59.3M | $56.7M | $64.1M |
| Receivables | $20.5M | $19.8M | $20.0M | $26.0M | $24.8M | $22.9M | $27.0M | $43.0M | $43.1M | $42.8M | $48.7M | $43.2M |
| Inventory | $10.9M | $10.1M | $9.6M | $11.4M | $11.5M | $10.2M | $10.7M | $11.9M | $13.1M | $14.4M | $14.6M | $12.2M |
| Other current assets | $22.2M | $18.3M | $19.7M | $17.3M | $18.9M | $18.0M | $18.7M | $20.6M | $23.4M | $19.5M | $22.6M | $24.1M |
| Total current assets | $463.5M | $406.5M | $496.7M | $401.0M | $363.4M | $292.5M | $447.6M | $127.5M | $144.0M | $136.0M | $142.7M | $143.6M |
| Property, plant & equipment (net) | $1.61B | $1.50B | $1.37B | $1.28B | $961.3M | $814.3M | $705.5M | $651.4M | $655.0M | $659.1M | $658.2M | $647.2M |
| Goodwill & intangible assets | $145.7M | $145.5M | $122.9M | $143.3M | $143.1M | $138.5M | $115.8M | $138.7M | $127.3M | $109.5M | $91.3M | $106.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $227.1M | $329.7M | $334.5M | $341.4M | $441.3M | $483.9M | $441.4M | $0 | $0 | $12.5M | $32.2M | $13.6M |
| Total assets | $2.44B | $2.38B | $2.33B | $2.16B | $1.91B | $1.73B | $1.71B | $917.6M | $926.2M | $917.0M | $924.3M | $910.6M |
| Liabilities | ||||||||||||
| Accounts payable | $120.8M | $51.4M | $20.7M | $45.2M | $39.0M | $31.7M | $5.0M | $34.4M | $25.6M | $28.3M | $2.0M | $3.6M |
| Short-term debt | $51.4M | $51.3M | $39.8M | $31.0M | $22.7M | $30.8M | $38.9M | $34.6M | $34.6M | $34.6M | $37.6M | $32.2M |
| Deferred revenue | $56.2M | $54.0M | $62.0M | $61.6M | $51.2M | $54.0M | $61.2M | $46.5M | $57.7M | $53.8M | $53.7M | $58.1M |
| Total current liabilities | $299.9M | $253.5M | $205.5M | $158.4M | $129.2M | $129.1M | $141.5M | $116.9M | $138.3M | $135.7M | $175.9M | $184.7M |
| Long-term debt | $307.4M | $432.2M | $452.0M | $485.1M | $468.8M | $472.0M | $476.8M | $359.8M | $358.5M | $364.1M | $325.7M | $307.1M |
| Lease obligations | $53.0M | $54.3M | $62.5M | $56.2M | $51.4M | $34.2M | $30.5M | $28.6M | $28.8M | $28.5M | $32.2M | $29.5M |
| Other long-term liabilities | $1.54B | $1.35B | $1.31B | $1.15B | $950.2M | $783.8M | $733.0M | $46.9M | $46.4M | $40.1M | $43.7M | $35.5M |
| Total liabilities | $2.15B | $2.03B | $1.97B | $1.80B | $1.55B | $1.38B | $1.35B | $523.5M | $543.3M | $540.0M | $545.3M | $527.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $13,000 | $189,000 | $189,000 | $188,000 | $188,000 | $188,000 |
| Retained earnings (deficit) | −$2.21B | −$2.15B | −$2.14B | −$2.13B | −$2.13B | −$2.15B | −$2.13B | −$2.08B | −$2.09B | −$2.08B | −$2.06B | −$2.05B |
| Accumulated other comprehensive income | $6.7M | $5.3M | $3.3M | $4.0M | $3.0M | $10.6M | $13.5M | $5.6M | $9.3M | $7.5M | $5.1M | $9.0M |
| Total shareholders' equity | $292.6M | $342.8M | $355.7M | $364.8M | $360.9M | $344.3M | $358.9M | $394.1M | $383.0M | $377.1M | $379.0M | $383.4M |
| Key figures | ||||||||||||
| Total debt | $411.8M | $537.8M | $546.3M | $572.3M | $542.9M | $537.0M | $541.9M | $422.9M | $421.9M | $427.2M | $392.5M | $368.9M |
| Net cash (debt) | −$2.0M | −$179.4M | −$98.9M | −$226.0M | −$234.7M | −$295.5M | −$150.8M | −$371.0M | −$357.5M | −$367.9M | −$335.8M | −$304.7M |
| Working capital | $163.6M | $153.0M | $291.2M | $242.6M | $234.2M | $163.4M | $306.1M | $10.6M | $5.7M | $295,000 | −$33.3M | −$41.0M |
| Tangible book value | $146.9M | $197.3M | $232.8M | $221.5M | $217.8M | $205.8M | $243.1M | $255.4M | $255.7M | $267.6M | $287.7M | $277.2M |
| Book value per share | $2.27 | $2.67 | $2.80 | $2.88 | $2.82 | $2.72 | $2.84 | $2.06 | $2.03 | $2.00 | $2.02 | $2.09 |
| Shares outstanding | 129.1M | 128.4M | 127.2M | 126.7M | 127.9M | 126.5M | 126.2M | 191.0M | 188.4M | 188.3M | 187.8M | 183.6M |
| Current ratio | 1.55 | 1.60 | 2.42 | 2.53 | 2.81 | 2.27 | 3.16 | 1.09 | 1.04 | 1.00 | 0.81 | 0.78 |
| Quick ratio | 1.43 | 1.49 | 2.27 | 2.35 | 2.58 | 2.05 | 2.96 | 0.81 | 0.78 | 0.75 | 0.60 | 0.58 |
| Debt / equity | 1.41 | 1.57 | 1.54 | 1.57 | 1.50 | 1.56 | 1.51 | 1.07 | 1.10 | 1.13 | 1.04 | 0.96 |
| Equity / assets | 12.0% | 14.4% | 15.3% | 16.9% | 18.9% | 19.9% | 21.0% | 43.0% | 41.3% | 41.1% | 41.0% | 42.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
GSAT financial position
At the end of fiscal 2025 (December 31, 2025), Globalstar had total assets of $2.3 billion (up 36.0% from a year earlier), total liabilities of $2.0 billion and shareholders' equity of $355.7 million. It held $447.5 million in cash and short-term investments against $546.3 million of debt, net debt of $98.9 million. Its current ratio was 2.42. In the latest quarter (ended June 30, 2026) total assets were $2.4 billion and equity $292.6 million.
Related: GSAT income statement, GSAT cash flow statement, GSAT key metrics. See the GSAT stock overview for the latest quote and news.
GSAT balance sheet FAQ
What are Globalstar's total assets?
Globalstar reported total assets of $2.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.7 billion a year earlier.
How much debt does Globalstar have?
Globalstar had $546.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.54.
How much cash does Globalstar have?
Globalstar held $447.5 million in cash and short-term investments at the end of fiscal 2025; with $546.3 million of debt that is net debt of $98.9 million.
What is Globalstar's book value?
Globalstar's shareholders' equity (book value) was $355.7 million at the end of fiscal 2025, or $2.81 per share.
What is Globalstar's current ratio?
Globalstar had current assets of $496.7 million and current liabilities of $205.5 million, a current ratio of 2.42 (it can cover its short-term obligations).
How much goodwill does Globalstar have?
Globalstar carried $122.9 million of goodwill and intangible assets, 5.3% of total assets, at the end of fiscal 2025.