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Side-by-side financial comparison of Telesat Corp (TSAT) and UNITED STATES LIME & MINERALS INC (USLM). Click either name above to swap in a different company.

UNITED STATES LIME & MINERALS INC is the larger business by last-quarter revenue ($87.9M vs $73.8M, roughly 1.2× Telesat Corp). UNITED STATES LIME & MINERALS INC runs the higher net margin — 34.7% vs -119.8%, a 154.6% gap on every dollar of revenue. Over the past eight quarters, UNITED STATES LIME & MINERALS INC's revenue compounded faster (10.8% CAGR vs -64.0%).

Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.

United States Lime & Minerals Inc is a leading US-based natural resources enterprise that produces high-calcium lime, dolomitic lime, limestone and related mineral products. Its core client segments cover infrastructure construction, steel manufacturing, agricultural soil amendment, environmental emission control and industrial processing, serving customers across North America.

TSAT vs USLM — Head-to-Head

Bigger by revenue
USLM
USLM
1.2× larger
USLM
$87.9M
$73.8M
TSAT
Higher net margin
USLM
USLM
154.6% more per $
USLM
34.7%
-119.8%
TSAT
Faster 2-yr revenue CAGR
USLM
USLM
Annualised
USLM
10.8%
-64.0%
TSAT

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
TSAT
TSAT
USLM
USLM
Revenue
$73.8M
$87.9M
Net Profit
$-88.4M
$30.5M
Gross Margin
95.3%
48.0%
Operating Margin
5.9%
41.0%
Net Margin
-119.8%
34.7%
Revenue YoY
9.8%
Net Profit YoY
13.2%
EPS (diluted)
$1.06

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.

Revenue
TSAT
TSAT
USLM
USLM
Q4 25
$87.9M
Q3 25
$73.8M
$102.0M
Q2 25
$77.5M
$91.5M
Q1 25
$152.2M
$91.3M
Q4 24
$80.1M
Q3 24
$89.4M
Q2 24
$363.2M
$76.5M
Q1 24
$71.7M
Net Profit
TSAT
TSAT
USLM
USLM
Q4 25
$30.5M
Q3 25
$-88.4M
$38.8M
Q2 25
$55.1M
$30.8M
Q1 25
$-52.3M
$34.1M
Q4 24
$27.0M
Q3 24
$33.4M
Q2 24
$547.4M
$26.1M
Q1 24
$22.4M
Gross Margin
TSAT
TSAT
USLM
USLM
Q4 25
48.0%
Q3 25
95.3%
51.2%
Q2 25
95.9%
45.8%
Q1 25
50.6%
Q4 24
44.3%
Q3 24
48.2%
Q2 24
45.5%
Q1 24
42.7%
Operating Margin
TSAT
TSAT
USLM
USLM
Q4 25
41.0%
Q3 25
5.9%
45.3%
Q2 25
16.8%
39.0%
Q1 25
43.7%
Q4 24
38.8%
Q3 24
42.6%
Q2 24
39.1%
Q1 24
35.9%
Net Margin
TSAT
TSAT
USLM
USLM
Q4 25
34.7%
Q3 25
-119.8%
38.0%
Q2 25
71.2%
33.7%
Q1 25
-34.4%
37.4%
Q4 24
33.7%
Q3 24
37.3%
Q2 24
150.7%
34.0%
Q1 24
31.3%
EPS (diluted)
TSAT
TSAT
USLM
USLM
Q4 25
$1.06
Q3 25
$1.35
Q2 25
$1.07
Q1 25
$1.19
Q4 24
$-2.20
Q3 24
$1.16
Q2 24
$0.91
Q1 24
$3.92

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
TSAT
TSAT
USLM
USLM
Cash + ST InvestmentsLiquidity on hand
$352.3M
$371.1M
Total DebtLower is stronger
$0
Stockholders' EquityBook value
$1.6B
$630.8M
Total Assets
$5.1B
$681.0M
Debt / EquityLower = less leverage
0.00×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
TSAT
TSAT
USLM
USLM
Q4 25
$371.1M
Q3 25
$352.3M
$349.5M
Q2 25
$399.6M
$319.9M
Q1 25
$552.1M
$300.6M
Q4 24
$278.0M
Q3 24
$255.0M
Q2 24
$1.7B
$222.5M
Q1 24
$207.0M
Total Debt
TSAT
TSAT
USLM
USLM
Q4 25
$0
Q3 25
$0
Q2 25
$0
Q1 25
$0
Q4 24
$0
Q3 24
$0
Q2 24
$0
Q1 24
$0
Stockholders' Equity
TSAT
TSAT
USLM
USLM
Q4 25
$630.8M
Q3 25
$1.6B
$602.3M
Q2 25
$1.7B
$563.3M
Q1 25
$2.5B
$532.2M
Q4 24
$497.7M
Q3 24
$474.2M
Q2 24
$2.4B
$441.1M
Q1 24
$415.3M
Total Assets
TSAT
TSAT
USLM
USLM
Q4 25
$681.0M
Q3 25
$5.1B
$652.8M
Q2 25
$4.9B
$607.4M
Q1 25
$6.9B
$585.3M
Q4 24
$543.2M
Q3 24
$521.8M
Q2 24
$6.3B
$484.2M
Q1 24
$464.0M
Debt / Equity
TSAT
TSAT
USLM
USLM
Q4 25
0.00×
Q3 25
0.00×
Q2 25
0.00×
Q1 25
0.00×
Q4 24
0.00×
Q3 24
0.00×
Q2 24
0.00×
Q1 24
0.00×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
TSAT
TSAT
USLM
USLM
Operating Cash FlowLast quarter
$45.6M
Free Cash FlowOCF − Capex
$25.7M
FCF MarginFCF / Revenue
29.2%
Capex IntensityCapex / Revenue
22.6%
Cash ConversionOCF / Net Profit
1.49×
TTM Free Cash FlowTrailing 4 quarters
$102.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
TSAT
TSAT
USLM
USLM
Q4 25
$45.6M
Q3 25
$45.9M
Q2 25
$34.0M
Q1 25
$39.4M
Q4 24
$38.6M
Q3 24
$39.0M
Q2 24
$21.2M
Q1 24
$27.2M
Free Cash Flow
TSAT
TSAT
USLM
USLM
Q4 25
$25.7M
Q3 25
$31.3M
Q2 25
$20.8M
Q1 25
$24.6M
Q4 24
$27.6M
Q3 24
$33.9M
Q2 24
$16.8M
Q1 24
$20.3M
FCF Margin
TSAT
TSAT
USLM
USLM
Q4 25
29.2%
Q3 25
30.7%
Q2 25
22.7%
Q1 25
26.9%
Q4 24
34.4%
Q3 24
37.9%
Q2 24
21.9%
Q1 24
28.4%
Capex Intensity
TSAT
TSAT
USLM
USLM
Q4 25
22.6%
Q3 25
14.4%
Q2 25
14.5%
Q1 25
16.3%
Q4 24
13.8%
Q3 24
5.8%
Q2 24
5.7%
Q1 24
9.5%
Cash Conversion
TSAT
TSAT
USLM
USLM
Q4 25
1.49×
Q3 25
1.18×
Q2 25
1.10×
Q1 25
1.16×
Q4 24
1.43×
Q3 24
1.17×
Q2 24
0.81×
Q1 24
1.21×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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