Satellite and wireless connectivity provider
EchoStar Corporation
EchoStar earns revenue from DISH TV and Sling TV pay television, Boost Mobile wireless service, and Hughes satellite broadband and equipment. It relies on AT&T and T-Mobile networks to serve wireless subscribers and agreed in 2025 to sell major spectrum assets to AT&T and SpaceX.
Business categories Satellite Connectivity · Space Infrastructure · primary Connectivity Operators · Communications & Media
ECHO Updated Sep 24, 2026 4 AI consumers· 3 recurring
Per the valuechain.wiki graph, EchoStar Corporation is directly linked to 3 companies (2 supply, 2 revenue, 2 investment relationships) and reaches 23 companies within two hops; the links are backed by 8 dated sources, 3 of them primary filings (as of 2026-09-24).
Financials & Segments
- Total revenue · FY2025 total revenue of USD 15,004,989,000
- Segments · Pay-TV · Wireless · Broadband and Satellite Services · Other
Revenue from
- AT&T Inc. High confidence· Contract value $22.6B · agreement announced 2025 · Unadjusted cash purchase price under the AT&T spectrum license sale agreement
EchoStar agreed to sell its 3.45 GHz and 600 MHz spectrum licenses and extend AT&T's use of certain Hawaii licenses for $22.65 billion in cash. The transaction was awaiting regulatory approval at year-end 2025.Confirms KO Hana Securities Published Sep 23, 2025: U.S. Spectrum Auctions and Investment Are Set to Accelerate - SpaceX High confidence· Contract value $20B · amended agreement 2025 · Total consideration under the amended SpaceX spectrum transaction
EchoStar agreed to transfer AWS-4, H-Block, and additional AWS-3 spectrum rights to SpaceX for approximately $20 billion. The consideration combines cash and SpaceX shares.Mentions KO Hana Securities Published Sep 23, 2025: U.S. Spectrum Auctions and Investment Are Set to AccelerateMentions EN Associated Press Published Sep 8, 2025: Musk's SpaceX spends $17 billion to acquire spectrum licenses from EchoStar
Pays to
- T-Mobile US, Inc. High confidence
EchoStar uses T-Mobile's wireless network for Boost Mobile subscribers under an agreement with a minimum purchase commitment. It continued to rely on T-Mobile after shifting to an AT&T-centered hybrid MNO model. - AT&T Inc. High confidence
EchoStar uses AT&T's network to serve Boost Mobile wireless subscribers. It met the hybrid MNO transition thresholds in the fourth quarter of 2025, and AT&T agreed to provide network services through 2031.
Investors
- AT&T Inc. High confidence· Amount $23B · acquisition completed 2026-07-28 · Purchase price for EchoStar's 600 MHz and 3.45 GHz spectrum licenses
EchoStar sold approximately 50 MHz of nationwide low-band 600 MHz and mid-band 3.45 GHz spectrum to AT&T for about $23 billion in a transaction that closed on July 28, 2026.Confirms EN AT&T Newsroom Published Jul 28, 2026: AT&T Closes Acquisition of Spectrum Licenses from EchoStarConfirms KO Hana Securities Published Sep 9, 2025: AT&T (T US): More Upside Considering Shareholder Return PotentialConfirms EN SEC EDGAR Published Aug 26, 2025: AT&T Inc. Current Report on Form 8-K dated August 26, 2025
Investments
- SpaceX High confidence· Amount $11B · amended agreement 2025 · Maximum transaction consideration payable in SpaceX Class A common stock
EchoStar agreed to receive up to $11 billion of the amended spectrum transaction consideration in SpaceX Class A common stock. Closing would give EchoStar an equity position in SpaceX.Mentions EN Associated Press Published Sep 8, 2025: Musk's SpaceX spends $17 billion to acquire spectrum licenses from EchoStar
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Satellogic | lead2 | · | -68.6 | -42.6 | +62.9 | -34.4 | +175.4 |
| Iridium Communications | lead2 | +5 | +24.5 | -19.1 | -28.1 | -38.5 | +174.2 |
| Viasat | lead2 | +36.4 | -28.9 | -11.7 | -69.6 | +304.9 | +109 |
| Deere & Company | lead2 | +28.9 | +26.6 | -5.5 | +7.6 | +11.4 | +49.8 |
| Globalstar | lead2 | +241.2 | +14.7 | +45.9 | +6.7 | +96.6 | +37.3 |
| BlackSky Technology | lead2 | -57.1 | -65.7 | -9.1 | -3.7 | +73.8 | +11.6 |
| Royal Caribbean Cruises Ltd. | lead2 | +3 | -35.7 | +162 | +79 | +22.5 | +2.9 |
| Planet Labs | lead2 | · | -29.3 | -43.2 | +63.6 | +388.1 | -8.1 |
| Firefly Aerospace | lead2 | · | · | · | · | · | -10.6 |
| Toyota Motor Corporation | lead2 | +58.1 | -13.4 | +63 | +1.8 | +21.8 | -14.3 |
| Northrop Grumman | lead2 | +29.3 | +43 | -12.8 | +1.9 | +23.6 | -14.7 |
| Intuitive Machines | lead2 | · | +3.7 | -74.4 | +610.8 | -10.6 | -18.7 |
| Eutelsat Group | lead2 | +17.8 | -30.7 | -51.8 | -48.9 | +32.1 | -21.7 |
| Carnival Corporation | lead2 | -7.1 | -59.9 | +130 | +34.4 | +22.6 | -21.8 |
| SES S.A. | lead2 | +2.8 | +10.6 | -13 | -36 | +141.5 | -43.7 |
| Sidus Space | lead2 | · | · | -91.9 | -44.4 | -35.9 | -50.6 |
| SpaceX | lead1 | · | · | · | · | · | +0.7 |
| AT&T Inc. | lead1 | -5.9 | +6.5 | -2.7 | +44.1 | +14 | -6.4 |
| EchoStar Corporation | node | +24.4 | -36.7 | -0.7 | +38.2 | +374.7 | -17.4 |
| SpaceX | benef1 | · | · | · | · | · | +0.7 |
| AT&T Inc. | benef1 | -5.9 | +6.5 | -2.7 | +44.1 | +14 | -6.4 |
| T-Mobile US, Inc. | benef1 | -14 | +20.7 | +15 | +39.7 | -6.6 | -25.6 |
| STMicroelectronics | benef2 | +32.4 | -26.8 | +41.7 | -49.7 | +5.3 | +102.2 |
| Corning | benef2 | +5.9 | -11.6 | -1.2 | +60.6 | +87.8 | +77.2 |
| Apple | benef2 | +34.6 | -26.4 | +49 | +30.7 | +9.1 | +18 |
| Crown Castle | benef2 | +35.1 | -32.6 | -10.2 | -16.4 | +3 | -6.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
EchoStar Corporation operates across Satellite and wireless connectivity provider. After +374.7% in 2025, it corrected -17.4% in 2026. The demand side (avg +3.9%) is well ahead of the stock (-17.4%). Customer money has not fully worked its way down to this layer, which leaves catch-up room if propagation continues and a hardened gap if it stalls. Among connected nodes the furthest ahead is AT&T Inc. (+7.1%) and the furthest behind is T-Mobile US, Inc. (-9.2%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It relies on AT&T and T-Mobile networks to serve wireless subscribers and agreed in 2025 to sell major spectrum assets to AT&T and SpaceX.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple