Globalstar (GSAT) gained fresh attention after reporting second quarter 2026 results that showed revenue of US$64.77 million and a net loss of US$26.54 million. Shortly after, the company announced the successful deployment of new low Earth orbit satellites.

Against the backdrop of new satellite launches and a wider low Earth orbit build out, Globalstar’s share price is up 28.75% year to date and the 1 year total shareholder return of 212.68% highlights how strongly sentiment has shifted, even with a recent 1 week share price pullback.

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With Globalstar up sharply over the past year yet still reporting losses, the real tension is whether to accept today’s price after the rally or wait for a pullback. The valuation numbers offer a clearer view of that trade off.

Most Popular Narrative: 8.5% Undervalued

Globalstar last closed at $82.39, compared with a widely followed fair value narrative of $90. This gap is small enough that the underlying assumptions really matter.

Progress in monetizing proprietary spectrum assets (notably Band 53/n53), including new licensing and international expansion, facilitates new revenue streams from terrestrial and hybrid wireless markets, a diversification that enhances revenue stability and long-term earnings power.

Want to see what is baked into that $90 figure? The narrative leans on faster revenue growth, rising margins and a rich future earnings multiple. The exact mix may surprise you.

At the core of this Globalstar narrative is a forecast that revenue steps up meaningfully while margins move from losses into solid profitability, all under a discount rate of 7.108%. The fair value also assumes the stock trades on a very high earnings multiple several years out, well above typical telecom levels, with share count gradually increasing over time as the business scales.

Result: Fair Value of $90 (UNDERVALUED)

However, Globalstar’s story also hinges on execution, since long sales cycles, high capital needs, and any delay to the Amazon milestones could quickly challenge this upbeat narrative.

Another View on Globalstar’s Valuation

While the popular Globalstar narrative leans on earnings forecasts and a rich future P/E, current trading multiples tell a tougher story. The stock sits on a P/S of 38x, compared with about 1.5x for the broader US Telecom industry and 2.4x for peers, and a fair ratio estimate of 3.1x. That gap suggests investors are already paying a large premium. How comfortable are you with everything that needs to go right to support it?

For a closer look at how these numbers stack up against revenue and earnings expectations, it is worth reviewing the See what the numbers say about this price — find out in our valuation breakdown.

Next Steps

If the mix of optimism and concern around Globalstar leaves you uncertain, act quickly to review the underlying drivers and weigh both sides for yourself with 1 key reward and 1 important warning sign

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.