Iridium Communications Inc. (IRDM) 10-Year Financial Performance & Capital Metrics

IRDM • • Utilities

Communication ServicesTelecom ServicesSatellite CommunicationsMobile Satellite Services

AboutIridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services. It also provides hosted payload and other data services, such as satellite time and location services, and inbound connections from the public switched telephone network, short message, subscriber identity module, activation, customer reactivation, and other peripheral services. In addition, the company offers voice and data solutions comprising personnel tracking devices; asset tracking devices for equipment, vehicles, and aircrafts; beyond-line-of-sight aircraft communications applications; maritime communications applications; specialized communications solutions for high-value individuals; mobile communications and data devices for the military and intelligence agencies, such as secure satellite handsets, as well as netted voice, messaging, and paging services; and maintenance services for the United States government's dedicated gateway. Further, it provides satellite handsets, personal connectivity devices, voice and data modems, broadband data devices, and IoT data devices; various accessories for its devices that include batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables, charging units, and others; and engineering and support services. Iridium Communications Inc. sells its products and services to commercial end users through a wholesale distribution network that include service providers, and value-added resellers and manufacturers. The company was formerly known as Iridium Holdings LLC and changed its name to Iridium Communications Inc. in September 2009. Iridium Communications Inc. was founded in 2000 and is headquartered in McLean, Virginia.Show more

Revenue $831M +5.1%
EBITDA $407M +1.2%
Net Income $113M +631.6%
Free Cash Flow $195M -19.1%
EBITDA Margin 48.95% -3.6%
Net Margin 13.58% +596.4%
ROE 15.4% +907.2%
Interest Coverage 1.98 +70.1%
Debt/Equity 3.13 +85.4%
Net Debt/EBITDA 4.21 +18.4%
CapEx / Revenue 21.74% +133.9%
CapEx Coverage 2.08 -51.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Healthy dividend yield of 2.8%
✓Share count reduced 5.8% through buybacks

✗Weaknesses

✗High debt to equity ratio of 3.1x
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y7.35%

5Y8.19%

3Y10.57%

TTM7.3%

Profit (Net Income) CAGR

10Y4.17%

5Y-

3Y-

TTM9.95%

EPS CAGR

10Y3.44%

5Y-

3Y-

TTM20%

ROCE

10Y Avg3.28%

5Y Avg3.53%

3Y Avg5.05%

Latest8.09%

Peer Comparison

Mobile Satellite Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IRDMIridium Communications Inc.	2.05B	19.56	20.81	5.05%	14.44%	27.94%	9.53%	3.13
GSATGlobalstar, Inc.	8.09B	63.80	-108.14	11.86%	-19.04%	-13.68%	2.21%	1.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	411.38M	433.64M	448.05M	523.01M	560.44M	583.44M	614.5M	721.03M	790.72M	830.68M
Revenue Growth %	0.01%	0.05%	0.03%	0.17%	0.07%	0.04%	0.05%	0.17%	0.1%	0.05%
Cost of Revenue	152.95M	158.64M	247.11M	361.08M	442.85M	445.87M	455.83M	504.63M	507.62M	433.69M
Gross Profit+	258.43M	275M	200.94M	161.93M	117.59M	137.57M	158.67M	216.4M	283.1M	396.99M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	0.17%	0.06%	-0.27%	-0.19%	-0.27%	0.17%	0.15%	0.36%	0.31%	0.4%
Operating Expenses+	97.59M	98.63M	99.65M	120.28M	107.47M	102.09M	112.36M	139.72M	163.97M	193.5M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	212.68M	225.76M	223.55M	259.86M	307.82M	338.66M	351.75M	380.16M	401.63M	406.61M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	0.07%	0.06%	-0.01%	0.16%	0.18%	0.1%	0.04%	0.08%	0.06%	0.01%
Depreciation & Amortization+	51.83M	49.39M	122.27M	218.21M	297.7M	303.17M	305.43M	303.48M	282.5M	203.13M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	160.84M	176.37M	101.29M	41.65M	10.12M	35.48M	46.31M	76.68M	119.13M	203.48M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.29%	0.1%	-0.43%	-0.59%	-0.76%	2.51%	0.31%	0.66%	0.55%	0.71%
Interest Expense+	3.29M	0	25K	55.14M	140.1M	98.6M	73.91M	72.09M	102.32M	102.76M
Interest Coverage	48.90x	-	4051.64x	0.76x	0.07x	0.36x	0.63x	1.06x	1.16x	1.98x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	73.11M	178.16M	119.57M	-20.65M	-218.12M	-88.96M	-28.89M	9.01M	-10.84M	125.03M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	65.99M	67.13M	-114.28M	-7.26M	-56.12M	-32.91M	-19.57M	292K	-26.25M	12.26M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	7.12M	111.03M	233.86M	-13.38M	-162M	-56.05M	-9.32M	8.72M	15.41M	112.78M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.91%	14.59%	1.11%	-1.06%	-11.1%	0.65%	0.83%	1.94%	0.77%	6.32%
EPS (Diluted)+	-0.09	1.00	2.22	-0.12	-1.29	-0.42	-0.07	0.07	0.12	0.94
EPS Growth %	-1.13%	12.44%	1.22%	-1.05%	-9.75%	0.67%	0.83%	1.96%	0.79%	6.83%
EPS (Basic)	-0.09	1.00	2.22	-0.12	-1.29	-0.42	-0.07	0.07	0.12	0.95
Diluted Shares Outstanding	95.13M	95.88M	98.2M	112.2M	125.17M	133.49M	133.53M	130.13M	127.22M	119.79M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	3.2B	3.5B	3.78B	4.01B	3.62B	3.36B	3.18B	2.95B	2.66B	2.67B
Asset Growth %	0.1%	0.09%	0.08%	0.06%	-0.1%	-0.07%	-0.05%	-0.07%	-0.1%	0%
PP&E (Net)+	2.44B	2.81B	3.21B	3.37B	3.21B	2.94B	2.68B	2.45B	2.21B	2.09B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	481.72M	516.77M	411.07M	390.38M	342.94M	343.97M	424.41M	306.2M	271.08M	292.73M
Cash & Equivalents	185.66M	371.17M	285.87M	273.35M	223.56M	237.18M	320.91M	168.77M	71.87M	93.53M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	27.93M	18.2M	20.07M	27.54M	39.94M	32.48M	29.04M	39.78M	91.14M	81.28M
Other Current Assets	13.13M	30.7M	25.35M	18.28M	10.74M	5.61M	11.04M	15.38M	16.36M	19.12M
Long-Term Investments	91.11M	113.14M	102.38M	191.94M	800K	0	4.9M	142.15M	133.63M	89.82M
Goodwill	0	0	0	0	0	0	0	0	0	98.19M
Intangible Assets	46.59M	45.8M	50.02M	48.54M	46.98M	45.5M	44M	42.58M	41.09M	90.88M
Other Assets	141.24M	-155.25M	8.41M	12.56M	23.54M	26.53M	23.68M	12.85M	2.27M	3.23M
Total Liabilities	1.98B	2.16B	2.19B	2.41B	2.16B	1.94B	1.89B	1.83B	1.77B	2.09B
Total Debt+	1.52B	1.66B	1.7B	1.96B	1.81B	1.64B	1.62B	1.51B	1.5B	1.81B
Net Debt	1.34B	1.29B	1.42B	1.68B	1.58B	1.4B	1.3B	1.34B	1.43B	1.71B
Long-Term Debt	1.39B	1.66B	1.62B	1.83B	1.77B	1.6B	1.58B	1.47B	1.47B	1.76B
Short-Term Borrowings	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	26.86M	23.26M	19.59M	15.8M	14.09M	16.1M
Total Current Liabilities+	101.61M	83.19M	214.23M	262.72M	113.75M	113.07M	108.84M	141.58M	131.55M	169.21M
Accounts Payable	31.52M	11.13M	43.1M	12.87M	6.71M	14.39M	16.2M	21.37M	28.67M	19.71M
Accrued Expenses	0	0	0	0	0	0	0	0	0	0
Deferred Revenue	36.97M	34.09M	38.39M	37.43M	39.08M	32.41M	28.02M	35.74M	33.06M	51.57M
Other Current Liabilities	33.12M	37.98M	47.24M	86.42M	53.69M	45.67M	44.42M	64.18M	50.5M	59.77M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	26.67M	17.45M	59.52M	4.16M	2.42M	1.95M	560K	559K	1.94M	4.39M
Total Equity+	1.23B	1.34B	1.6B	1.6B	1.46B	1.42B	1.29B	1.13B	888.1M	576.64M
Equity Growth %	-0%	0.09%	0.19%	0%	-0.09%	-0.03%	-0.09%	-0.12%	-0.21%	-0.35%
Shareholders Equity	1.23B	1.34B	1.6B	1.6B	1.46B	1.42B	1.29B	1.13B	888.1M	576.64M
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	95K	96K	98K	112K	132K	134K	131K	126K	123K	110K
Additional Paid-in Capital	1.04B	1.06B	1.08B	1.11B	1.13B	1.16B	1.15B	1.12B	1.09B	964.35M
Retained Earnings	193.2M	288.8M	518.79M	501.71M	331.97M	275.92M	140.81M	-47.74M	-235.4M	-406.09M
Accumulated OCI	-9.06M	-5.45M	-3.8M	-8.8M	-6.87M	-17.18M	-7.05M	51.56M	33.91M	18.27M
Return on Assets (ROA)	0%	0.03%	0.06%	-0%	-0.04%	-0.02%	-0%	0%	0.01%	0.04%
Return on Equity (ROE)	0.01%	0.09%	0.16%	-0.01%	-0.11%	-0.04%	-0.01%	0.01%	0.02%	0.15%
Debt / Equity	1.24x	1.23x	1.07x	1.22x	1.24x	1.16x	1.26x	1.34x	1.69x	3.13x
Debt / Assets	0.47%	0.47%	0.45%	0.49%	0.5%	0.49%	0.51%	0.51%	0.56%	0.68%
Net Debt / EBITDA	6.28x	5.70x	6.34x	6.47x	5.14x	4.14x	3.70x	3.52x	3.56x	4.21x
Book Value per Share	12.92	14.02	16.26	14.27	11.66	10.63	9.65	8.67	6.98	4.81

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	217.48M	225.2M	259.62M	263.71M	198.14M	249.77M	302.87M	344.73M	314.91M	375.95M
Operating CF Growth %	0.01%	0.04%	0.15%	0.02%	-0.25%	0.26%	0.21%	0.14%	-0.09%	0.19%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	7.12M	111.03M	233.86M	-13.38M	-162M	-56.05M	-9.32M	8.72M	15.41M	112.78M
Depreciation & Amortization	51.83M	49.39M	122.27M	218.21M	297.7M	303.17M	305.43M	303.48M	320M	203.13M
Deferred Taxes	63.38M	63.81M	-115.81M	-8.33M	-53.9M	-33.68M	-21.31M	-1.19M	-31.83M	6.56M
Other Non-Cash Items	89.43M	2.81M	-14.14M	17.61M	146.7M	34.99M	4.92M	7.92M	10.56M	-12.01M
Working Capital Changes	-2.89M	-15.55M	17.5M	35.12M	-30.37M	-15.37M	-3.63M	-17.94M	-56.69M	2.05M
Capital Expenditures+	-494.81M	-405.69M	-400.11M	-391.39M	-117.82M	-38.69M	-42.15M	-121.27M	-73.49M	-180.6M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-439.37M	-242.36M	-372.68M	-378.91M	-127.82M	-46.47M	-36.38M	-121.27M	-83.49M	-180.6M
Acquisitions	494.81M	494.81M	400.11M	391.39M	0	-152K	42.15M	0	0	-110.71M
Purchase of Investments	-204.67M	-19.86M	-7.01M	-235.53M	-10M	-7.78M	-1.64M	-50M	0	0
Sale of Investments	1000K	1000K	1000K	1000K	0	1000K	1000K	0	0	0
Other Investing	-494.81M	-494.81M	-400.11M	-391.39M	0	-7.78M	-42.15M	0	-10M	0
Cash from Financing+	197.07M	224.18M	16.87M	193.5M	-313.28M	-188.19M	-182.47M	-374.98M	-327.05M	-170.48M
Dividends Paid	-15.44M	-15.44M	-3.86M	-15.43M	-8.39M	0	0	0	-64.77M	-64.74M
Dividend Payout Ratio %	-	-	-	-	-	-	-	-	4.2%	0.57%
Debt Issuance (Net)	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K
Stock Issued	0	0	0	0	13.47M	12.71M	0	0	0	0
Share Repurchases	0	-627K	-1.86M	-1.98M	0	0	-163.44M	-257.06M	-247.02M	-407.73M
Other Financing	-20.07M	-11.26M	-1.48M	-8.79M	-4.6M	-7.08M	-2.53M	-5.29M	-6.88M	-3.61M
Net Change in Cash+	-25.58M	185.5M	-96.05M	77.03M	-49.79M	13.62M	83.73M	-152.14M	-96.9M	21.66M
Exchange Rate Effect	-755K	512K	144K	-1000K	1000K	-1000K	-288K	-625K	-1000K	-1000K
Cash at Beginning	211.25M	185.66M	484.31M	388.26M	273.35M	223.56M	237.18M	320.91M	168.77M	71.87M
Cash at End	185.66M	371.17M	388.26M	465.29M	223.56M	237.18M	320.91M	168.77M	71.87M	93.53M
Free Cash Flow+	-277.33M	-180.49M	-140.49M	-127.68M	80.32M	211.08M	260.73M	223.46M	241.43M	195.35M
FCF Growth %	-0.23%	0.35%	0.22%	0.09%	1.63%	1.63%	0.24%	-0.14%	0.08%	-0.19%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	0.58%	8.63%	15.91%	-0.84%	-10.59%	-3.89%	-0.69%	0.72%	1.53%	15.4%
EBITDA Margin	51.7%	52.06%	49.9%	49.69%	54.93%	58.04%	57.24%	52.72%	50.79%	48.95%
Net Debt / EBITDA	6.28x	5.70x	6.34x	6.47x	5.14x	4.14x	3.70x	3.52x	3.56x	4.21x
Interest Coverage	48.90x	-	4051.64x	0.76x	0.07x	0.36x	0.63x	1.06x	1.16x	1.98x
CapEx / Revenue	120.28%	93.55%	89.3%	74.83%	21.02%	6.63%	6.86%	16.82%	9.29%	21.74%
Dividend Payout Ratio	-	-	-	-	-	-	-	-	420.2%	57.4%
Debt / Equity	1.24x	1.23x	1.07x	1.22x	1.24x	1.16x	1.26x	1.34x	1.69x	3.13x
EPS Growth	-113.04%	1244.16%	122%	-105.41%	-975%	67.44%	83.38%	195.99%	79.1%	683.33%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Service	-	-	-	406.76M	447.16M	463.1M	491.99M	534.72M	584.45M	614.91M
Service Growth	-	-	-	-	9.93%	3.56%	6.24%	8.69%	9.30%	5.21%
Engineering and Support Services	-	-	-	18.4M	30.43M	34.23M	30.44M	51.6M	101.13M	124.35M
Engineering and Support Services Growth	-	-	-	-	65.35%	12.47%	-11.07%	69.52%	96.00%	22.96%
Subscription and Circulation	-	-	-	-	-	86.12M	92.07M	134.71M	105.14M	91.42M
Subscription and Circulation Growth	-	-	-	-	-	-	6.91%	46.32%	-21.96%	-13.05%
Commercial Service Revenue	-	-	-	-	350.03M	-	-	-	-	-
Commercial Service Revenue Growth	-	-	-	-	-	-	-	-	-	-
Commercial Voice and Data Services	-	-	-	193.18M	203.62M	-	-	-	-	-
Commercial Voice and Data Services Growth	-	-	-	-	5.41%	-	-	-	-	-
Government Services	-	-	-	88M	97.13M	-	-	-	-	-
Government Services Growth	-	-	-	-	10.38%	-	-	-	-	-
Commercial IoT Data Services	-	-	-	85.05M	96.44M	-	-	-	-	-
Commercial IoT Data Services Growth	-	-	-	-	13.38%	-	-	-	-	-
Hosted Payload and Other Data Services	-	-	-	40.53M	49.97M	-	-	-	-	-
Hosted Payload and Other Data Services Growth	-	-	-	-	23.30%	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	226.19M	229.74M	276.4M	300.49M	323.61M	330.95M	374.69M	431.48M	437.98M
UNITED STATES Growth	-	-	1.57%	20.31%	8.72%	7.69%	2.27%	13.22%	15.16%	1.51%
Non-US	-	-	-	-	-	-	-	346.35M	359.25M	304.31M
Non-US Growth	-	-	-	-	-	-	-	-	3.72%	-15.29%
Other Countries	120.53M	117.94M	127.95M	146.75M	156.35M	212.35M	283.55M	-	-	-
Other Countries Growth	-	-2.14%	8.49%	14.69%	6.54%	35.82%	33.53%	-	-	-
CANADA	-	42.37M	44.11M	48.51M	53.2M	-	-	-	-	-
CANADA Growth	-	-	4.09%	9.98%	9.66%	-	-	-	-	-
U S	204.78M	-	-	-	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-
C A	42.06M	-	-	-	-	-	-	-	-	-
C A Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Iridium Communications Inc. (IRDM) has a price-to-earnings (P/E) ratio of 20.8x. This is roughly in line with market averages.

Growth & Financials

Iridium Communications Inc. (IRDM) reported $871.7M in revenue for fiscal year 2024. This represents a 127% increase from $384.3M in 2011.

Iridium Communications Inc. (IRDM) grew revenue by 5.1% over the past year. This is steady growth.

Yes, Iridium Communications Inc. (IRDM) is profitable, generating $125.8M in net income for fiscal year 2024 (13.6% net margin).

Dividend & Returns

Yes, Iridium Communications Inc. (IRDM) pays a dividend with a yield of 2.76%. This makes it attractive for income-focused investors.

Iridium Communications Inc. (IRDM) has a return on equity (ROE) of 15.4%. This is reasonable for most industries.

Iridium Communications Inc. (IRDM) generated $305.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

Iridium Communications Inc. (IRDM) has a dividend payout ratio of 57%. This suggests the dividend is well-covered and sustainable.

US Stock Screener

...