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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $72.0M, roughly 1.4× Globalstar, Inc.). Safehold Inc. runs the higher net margin — 28.5% vs -16.1%, a 44.6% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs 6.5%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs 2.5%).
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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
GSAT vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $97.9M |
| Net Profit | $-11.6M | $27.9M |
| Gross Margin | — | 98.6% |
| Operating Margin | -0.5% | 27.4% |
| Net Margin | -16.1% | 28.5% |
| Revenue YoY | 17.6% | 6.5% |
| Net Profit YoY | 76.9% | 7.1% |
| EPS (diluted) | $-0.11 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $73.8M | $96.2M | ||
| Q2 25 | $67.1M | $93.8M | ||
| Q1 25 | $60.0M | $97.7M | ||
| Q4 24 | $61.2M | $91.9M | ||
| Q3 24 | $72.3M | $90.7M | ||
| Q2 24 | $60.4M | $89.9M | ||
| Q1 24 | $56.5M | $93.2M |
| Q4 25 | $-11.6M | $27.9M | ||
| Q3 25 | $1.1M | $29.3M | ||
| Q2 25 | $19.2M | $27.9M | ||
| Q1 25 | $-17.3M | $29.4M | ||
| Q4 24 | $-50.2M | $26.0M | ||
| Q3 24 | $9.9M | $19.3M | ||
| Q2 24 | $-9.7M | $29.7M | ||
| Q1 24 | $-13.2M | $30.7M |
| Q4 25 | — | 98.6% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.8% | ||
| Q4 24 | — | 98.8% | ||
| Q3 24 | — | 98.8% | ||
| Q2 24 | — | 98.8% | ||
| Q1 24 | — | 98.8% |
| Q4 25 | -0.5% | 27.4% | ||
| Q3 25 | 13.8% | 25.9% | ||
| Q2 25 | 9.2% | 25.5% | ||
| Q1 25 | -14.2% | 25.9% | ||
| Q4 24 | -6.9% | 24.6% | ||
| Q3 24 | 13.0% | 17.5% | ||
| Q2 24 | -2.4% | 26.7% | ||
| Q1 24 | -8.3% | 26.4% |
| Q4 25 | -16.1% | 28.5% | ||
| Q3 25 | 1.5% | 30.5% | ||
| Q2 25 | 28.6% | 29.8% | ||
| Q1 25 | -28.9% | 30.1% | ||
| Q4 24 | -82.1% | 28.3% | ||
| Q3 24 | 13.7% | 21.3% | ||
| Q2 24 | -16.0% | 33.0% | ||
| Q1 24 | -23.4% | 33.0% |
| Q4 25 | $-0.11 | $0.38 | ||
| Q3 25 | $-0.01 | $0.41 | ||
| Q2 25 | $0.13 | $0.39 | ||
| Q1 25 | $-0.16 | $0.41 | ||
| Q4 24 | $-0.57 | $0.36 | ||
| Q3 24 | $0.00 | $0.27 | ||
| Q2 24 | $-0.01 | $0.42 | ||
| Q1 24 | $-0.01 | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | $483.8M | $4.6B |
| Stockholders' EquityBook value | $355.7M | $2.4B |
| Total Assets | $2.3B | $7.2B |
| Debt / EquityLower = less leverage | 1.36× | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $21.7M | ||
| Q3 25 | $346.3M | $12.1M | ||
| Q2 25 | $308.2M | $13.9M | ||
| Q1 25 | $241.4M | $17.3M | ||
| Q4 24 | $391.2M | $8.3M | ||
| Q3 24 | $51.9M | $15.6M | ||
| Q2 24 | $64.3M | $13.4M | ||
| Q1 24 | $59.3M | $11.3M |
| Q4 25 | $483.8M | $4.6B | ||
| Q3 25 | $508.6M | $4.5B | ||
| Q2 25 | $491.5M | $4.4B | ||
| Q1 25 | $502.7M | $4.3B | ||
| Q4 24 | $511.4M | $4.3B | ||
| Q3 24 | $394.4M | $4.3B | ||
| Q2 24 | $393.1M | $4.2B | ||
| Q1 24 | $398.7M | $4.1B |
| Q4 25 | $355.7M | $2.4B | ||
| Q3 25 | $364.8M | $2.4B | ||
| Q2 25 | $360.9M | $2.4B | ||
| Q1 25 | $344.3M | $2.4B | ||
| Q4 24 | $358.9M | $2.3B | ||
| Q3 24 | $394.1M | $2.3B | ||
| Q2 24 | $383.0M | $2.3B | ||
| Q1 24 | $377.1M | $2.3B |
| Q4 25 | $2.3B | $7.2B | ||
| Q3 25 | $2.2B | $7.1B | ||
| Q2 25 | $1.9B | $7.1B | ||
| Q1 25 | $1.7B | $6.9B | ||
| Q4 24 | $1.7B | $6.9B | ||
| Q3 24 | $917.6M | $6.8B | ||
| Q2 24 | $926.2M | $6.8B | ||
| Q1 24 | $917.0M | $6.7B |
| Q4 25 | 1.36× | 1.90× | ||
| Q3 25 | 1.39× | 1.89× | ||
| Q2 25 | 1.36× | 1.87× | ||
| Q1 25 | 1.46× | 1.85× | ||
| Q4 24 | 1.43× | 1.84× | ||
| Q3 24 | 1.00× | 1.88× | ||
| Q2 24 | 1.03× | 1.81× | ||
| Q1 24 | 1.06× | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $47.8M | ||
| Q3 25 | $236.0M | $-1.4M | ||
| Q2 25 | $157.9M | $28.0M | ||
| Q1 25 | $51.9M | $8.9M | ||
| Q4 24 | $340.7M | $37.9M | ||
| Q3 24 | $32.0M | $8.3M | ||
| Q2 24 | $36.7M | $24.8M | ||
| Q1 24 | $29.8M | $-3.1M |
| Q4 25 | — | 1.72× | ||
| Q3 25 | 216.53× | -0.05× | ||
| Q2 25 | 8.22× | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | 3.23× | 0.43× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | -0.10× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
