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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and HORIZON BANCORP INC (HBNC). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $63.5M, roughly 1.1× HORIZON BANCORP INC). HORIZON BANCORP INC runs the higher net margin — 42.4% vs -16.1%, a 58.6% gap on every dollar of revenue. On growth, HORIZON BANCORP INC posted the faster year-over-year revenue change (19.5% vs 17.6%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs 9.2%).
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
GSAT vs HBNC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $63.5M |
| Net Profit | $-11.6M | $26.9M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | 51.5% |
| Net Margin | -16.1% | 42.4% |
| Revenue YoY | 17.6% | 19.5% |
| Net Profit YoY | 76.9% | 347.4% |
| EPS (diluted) | $-0.11 | $0.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $72.0M | $63.5M | ||
| Q3 25 | $73.8M | $58.4M | ||
| Q2 25 | $67.1M | $66.3M | ||
| Q1 25 | $60.0M | $68.8M | ||
| Q4 24 | $61.2M | $53.1M | ||
| Q3 24 | $72.3M | $58.4M | ||
| Q2 24 | $60.4M | $55.8M | ||
| Q1 24 | $56.5M | $53.2M |
| Q4 25 | $-11.6M | $26.9M | ||
| Q3 25 | $1.1M | $-222.0M | ||
| Q2 25 | $19.2M | $20.6M | ||
| Q1 25 | $-17.3M | $23.9M | ||
| Q4 24 | $-50.2M | $-10.9M | ||
| Q3 24 | $9.9M | $18.2M | ||
| Q2 24 | $-9.7M | $14.1M | ||
| Q1 24 | $-13.2M | $14.0M |
| Q4 25 | -0.5% | 51.5% | ||
| Q3 25 | 13.8% | -490.4% | ||
| Q2 25 | 9.2% | 36.8% | ||
| Q1 25 | -14.2% | 40.8% | ||
| Q4 24 | -6.9% | -41.3% | ||
| Q3 24 | 13.0% | 31.0% | ||
| Q2 24 | -2.4% | 28.5% | ||
| Q1 24 | -8.3% | 28.8% |
| Q4 25 | -16.1% | 42.4% | ||
| Q3 25 | 1.5% | -380.2% | ||
| Q2 25 | 28.6% | 31.1% | ||
| Q1 25 | -28.9% | 34.8% | ||
| Q4 24 | -82.1% | -20.5% | ||
| Q3 24 | 13.7% | 31.1% | ||
| Q2 24 | -16.0% | 25.4% | ||
| Q1 24 | -23.4% | 26.3% |
| Q4 25 | $-0.11 | $0.44 | ||
| Q3 25 | $-0.01 | $-4.69 | ||
| Q2 25 | $0.13 | $0.47 | ||
| Q1 25 | $-0.16 | $0.54 | ||
| Q4 24 | $-0.57 | $-0.25 | ||
| Q3 24 | $0.00 | $0.41 | ||
| Q2 24 | $-0.01 | $0.32 | ||
| Q1 24 | $-0.01 | $0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $447.5M | $139.5M |
| Total DebtLower is stronger | $483.8M | $248.6M |
| Stockholders' EquityBook value | $355.7M | $688.3M |
| Total Assets | $2.3B | $6.4B |
| Debt / EquityLower = less leverage | 1.36× | 0.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $139.5M | ||
| Q3 25 | $346.3M | $458.3M | ||
| Q2 25 | $308.2M | $137.9M | ||
| Q1 25 | $241.4M | $169.7M | ||
| Q4 24 | $391.2M | $293.4M | ||
| Q3 24 | $51.9M | $234.8M | ||
| Q2 24 | $64.3M | $146.1M | ||
| Q1 24 | $59.3M | — |
| Q4 25 | $483.8M | $248.6M | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | — | ||
| Q4 24 | $511.4M | $1.2B | ||
| Q3 24 | $394.4M | — | ||
| Q2 24 | $393.1M | — | ||
| Q1 24 | $398.7M | — |
| Q4 25 | $355.7M | $688.3M | ||
| Q3 25 | $364.8M | $660.8M | ||
| Q2 25 | $360.9M | $790.9M | ||
| Q1 25 | $344.3M | $776.1M | ||
| Q4 24 | $358.9M | $763.6M | ||
| Q3 24 | $394.1M | $754.8M | ||
| Q2 24 | $383.0M | $726.7M | ||
| Q1 24 | $377.1M | $721.3M |
| Q4 25 | $2.3B | $6.4B | ||
| Q3 25 | $2.2B | $6.7B | ||
| Q2 25 | $1.9B | $7.7B | ||
| Q1 25 | $1.7B | $7.6B | ||
| Q4 24 | $1.7B | $7.8B | ||
| Q3 24 | $917.6M | $7.9B | ||
| Q2 24 | $926.2M | $7.9B | ||
| Q1 24 | $917.0M | $7.9B |
| Q4 25 | 1.36× | 0.36× | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | — | ||
| Q4 24 | 1.43× | 1.61× | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $175.9M | $79.2M |
| Free Cash FlowOCF − Capex | — | $74.3M |
| FCF MarginFCF / Revenue | — | 117.0% |
| Capex IntensityCapex / Revenue | — | 7.8% |
| Cash ConversionOCF / Net Profit | — | 2.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $115.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $79.2M | ||
| Q3 25 | $236.0M | $10.9M | ||
| Q2 25 | $157.9M | $19.5M | ||
| Q1 25 | $51.9M | $15.2M | ||
| Q4 24 | $340.7M | $6.4M | ||
| Q3 24 | $32.0M | $32.3M | ||
| Q2 24 | $36.7M | $15.9M | ||
| Q1 24 | $29.8M | $6.5M |
| Q4 25 | — | $74.3M | ||
| Q3 25 | — | $9.4M | ||
| Q2 25 | — | $18.1M | ||
| Q1 25 | — | $14.1M | ||
| Q4 24 | — | $1.3M | ||
| Q3 24 | — | $31.0M | ||
| Q2 24 | — | $15.1M | ||
| Q1 24 | — | $5.4M |
| Q4 25 | — | 117.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 27.3% | ||
| Q1 25 | — | 20.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 53.1% | ||
| Q2 24 | — | 27.1% | ||
| Q1 24 | — | 10.1% |
| Q4 25 | — | 7.8% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 1.5% | ||
| Q1 24 | — | 2.2% |
| Q4 25 | — | 2.94× | ||
| Q3 25 | 216.53× | — | ||
| Q2 25 | 8.22× | 0.94× | ||
| Q1 25 | — | 0.64× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.23× | 1.78× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
HBNC
Segment breakdown not available.
