Dish Network market cap is $16.6 b, and annual revenue was $12.81 b in FY 2019

Dish Network Gross profit (Q1, 2020)3 B

Dish Network Gross profit margin (Q1, 2020), %92.1%

Dish Network Net income (Q1, 2020)99.3 M

Dish Network EBIT (Q1, 2020)144.1 M

Dish Network Cash, 31-Mar-20202.8 B

Dish Network EV15.2 B

Dish Network revenue breakdown by business segment: 100.0% from Pay-TV and Broadband and 0.0% from Other

Dish Network revenue breakdown by geographic segment: 99.7% from United States and 0.3% from Other

USD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Revenue | 15.1b | 14.4b | 13.6b | 12.8b |

| (5%) | (5%) | ||

## Cost of goods sold | 994.5m | |||

## Gross profit | 11.8b | |||

| 92% | |||

## Sales and marketing expense | 519.9m | |||

## General and administrative expense | 783.2m | 687.1m | 725.6m | 793.5m |

## Operating expense total | 783.2m | 687.1m | 725.6m | 9.9b |

## Depreciation and amortization | 953.1m | 817.6m | 712.0m | 630.6m |

## EBIT | 2.2b | 1.6b | 2.1b | 1.9b |

| 15% | 11% | 16% | 15% |

## Interest expense | 53.0m | 63.2m | 15.0m | 65.1m |

## Interest income | 31.2m | 41.0m | 44.8m | |

## Investment income | 77.2m | |||

## Pre tax profit | 2.3b | 1.7b | 2.2b | 1.9b |

## Income tax expense | 837.0m | 515.3m | 533.7m | 451.4m |

## Net Income | 1.5b | 2.2b | 1.7b | 1.5b |

## EPS | 3.1 | 4.1 | 3.0 |

USD | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 |
---|---|---|---|---|---|---|---|---|---|---|

## Revenue | 3.7b | 3.6b | 3.6b | 3.5b | 3.5b | 3.4b | 3.2b | 3.2b | 3.2b | 3.2b |

## Cost of goods sold | 253.9m | |||||||||

## Gross profit | 3.0b | |||||||||

| 92% | |||||||||

## Sales and marketing expense | 131.1m | |||||||||

## General and administrative expense | 131.0m | 179.8m | 187.0m | 169.8m | 190.6m | 169.3m | 198.9m | 202.8m | 176.6m | 219.0m |

## Operating expense total | 131.0m | 179.8m | 187.0m | 169.8m | 190.6m | 169.3m | 198.9m | 202.8m | 176.6m | 2.8b |

## Depreciation and amortization | 204.6m | 211.7m | 209.3m | 193.0m | 172.7m | 175.3m | 153.1m | 149.7m | 154.2m | 166.8m |

## EBIT | 607.3m | 252.1m | 449.1m | 529.5m | 572.7m | 562.7m | 456.3m | 430.7m | 468.9m | 144.1m |

| 17% | 7% | 13% | 15% | 17% | 17% | 14% | 13% | 15% | 4% |

## Interest expense | 29.2m | 26.3m | 4.4m | 3.0m | 2.9m | 5.4m | 5.9m | 5.7m | 6.0m | |

## Interest income | 14.3m | 12.4m | 7.2m | 9.3m | 10.6m | 10.5m | 15.2m | 18.5m | 32.3m | |

## Investment income | 14.2m | |||||||||

## Pre tax profit | 597.2m | 241.4m | 492.2m | 501.1m | 601.8m | 593.3m | 474.6m | 446.4m | 493.4m | 144.3m |

## Income tax expense | 207.1m | 182.7m | 176.9m | 115.7m | 141.6m | 140.7m | 113.3m | 105.8m | 116.2m | 45.0m |

## Net Income | 390.1m | 58.8m | 315.3m | 385.3m | 460.3m | 452.6m | 361.3m | 340.6m | 377.2m | 99.3m |

USD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Cash | 5.3b | 1.5b | 887.3m | 2.4b |

## Accounts Receivable | 753.1m | 653.9m | 639.9m | 588.4m |

## Prepaid Expenses | 243.5m | |||

## Inventories | 464.8m | 321.0m | 290.7m | 322.9m |

## Current Assets | 8.3b | 3.3b | 3.3b | 4.0b |

## PP&E | 2.6b | 2.2b | 1.9b | 2.7b |

## Total Assets | 28.1b | 29.8b | 30.6b | 33.2b |

## Accounts Payable | 506.0m | 393.3m | 233.8m | 280.6m |

## Short-term debt | 937.6m | 1.1b | 1.3b | 1.2b |

## Current Liabilities | 4.5b | 4.8b | 4.8b | 4.5b |

## Long-term debt | 34.1b | 32.8b | 30.6b | 13.1b |

## Non-Current Liabilities | 16.6b | |||

## Total Debt | 35.1b | 33.8b | 31.9b | 14.2b |

## Total Liabilities | 23.1b | 22.5b | 21.5b | 21.1b |

## Common Stock | 4.7m | 4.7m | 4.7m | |

## Additional Paid-in Capital | 3.3b | 3.3b | 3.4b | 4.9b |

## Retained Earnings | 1.4b | 3.6b | 5.2b | 6.6b |

## Total Equity | 4.6b | 6.9b | 8.6b | 11.6b |

## Debt to Equity Ratio | 7.6 x | 4.9 x | 3.7 x | |

## Debt to Assets Ratio | 1.2 x | 1.1 x | 1 x | |

## Financial Leverage | 6.1 x | 4.3 x | 3.6 x | 2.9 x |

USD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Net Income | 1.5b | 2.2b | 1.7b | 1.5b |

## Depreciation and Amortization | 953.1m | 817.6m | 712.0m | 630.6m |

## Accounts Receivable | 115.1m | 126.8m | 14.7m | 49.2m |

## Inventories | (49.6m) | 37.9m | 14.8m | (79.5m) |

## Accounts Payable | 35.8m | (131.4m) | (161.0m) | 46.9m |

## Cash From Operating Activities | 2.8b | 2.8b | 2.5b | 2.7b |

## Purchases of PP&E | (603.0m) | (431.8m) | (393.9m) | (581.1m) |

## Cash From Investing Activities | (1.7b) | (6.5b) | (2.0b) | (717.8m) |

## Long-term Borrowings | (34.8m) | (42.4m) | (42.8m) | (41.5m) |

## Cash From Financing Activities | 3.2b | (103.2m) | (1.1b) | (328.2m) |

## Net Change in Cash | 4.3b | (3.8b) | (592.0m) | 1.6b |

USD | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 |
---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 390.1m | 448.8m | 764.1m | 385.3m | 845.6m | 1.3b | 361.3m | 701.9m | 1.1b | 99.3m |

## Depreciation and Amortization | 204.6m | 416.3m | 625.6m | 193.0m | 365.7m | 541.0m | 153.1m | 302.8m | 457.0m | 166.8m |

## Cash From Operating Activities | 936.8m | 1.5b | 2.2b | 751.6m | 1.3b | 2.0b | 732.9m | 1.3b | 2.0b | 876.0m |

## Purchases of PP&E | (114.9m) | (212.4m) | (324.1m) | (70.5m) | (168.1m) | (282.8m) | (120.9m) | (281.7m) | (461.4m) | (97.2m) |

## Cash From Investing Activities | (463.0m) | (5.4b) | (6.0b) | (56.6m) | (697.5m) | (1.2b) | (40.3m) | (361.6m) | (142.2m) | (481.1m) |

## Long-term Borrowings | (9.2m) | (20.1m) | (32.4m) | (10.5m) | (20.2m) | (32.7m) | (6.6m) | (11.5m) | (21.1m) | (16.7m) |

## Cash From Financing Activities | 984.0m | 983.4m | 78.2m | (59.1m) | (1.1b) | (1.1b) | 4.8m | 43.0m | (1.3b) | (11.2m) |

## Net Change in Cash | 1.5b | (3.0b) | (3.7b) | 635.9m | (471.7m) | (249.8m) | 697.4m | 1.0b | 575.9m | 383.6m |

USD | Y, 2020 |
---|---|

## EV/EBIT | 105.6 x |

## EV/CFO | 17.4 x |

## Financial Leverage | 2.9 x |

Dish Network's Pay-TV Subscribers was reported to be 12.2 m in Q3, 2019. Dish Network's Broadband Subscribers was reported to be 459 k in Q3, 2017.

FY, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | FY, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | FY, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | FY, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | FY, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Broadband Subscribers | 577 k | 591 k | 595 k | 608 k | 623 k | 628 k | 613 k | 593 k | 580 k | 555 k | 509 k | 459 k | ||||||||

## Pay-TV ARPU | $83.77 | $85.73 | $87.91 | $86.33 | $86.79 | $87.94 | $89.98 | $89.44 | $88.66 | $86.55 | $87.25 | $87.23 | $86.43 | $84.50 | $85.54 | $86.29 | $85.46 | $85.03 | $86.34 | $85.29 |

## Pay-TV Subscribers | 13.98 m | 14.01 m | 13.93 m | 13.91 m | 13.90 m | 13.87 m | 13.59 m | 13.64 m | 13.67 m | 13.53 m | 13.33 m | 13.20 m | 13.24 m | 13.15 m | 13 m | 12.66 m | 12.32 m | 12.06 m | 12.03 m | 12.18 m |

## Satellite Fleet | 16 | 14 | 15 | 12 | 11 | |||||||||||||||

## Sling TV Subscribers | 2.20 m | 2.30 m | 2.34 m | 2.37 m | 2.42 m | 2.42 m | 2.47 m | 2.69 m |