IRDM Financials Iridium Communications Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Oct 23, 2026, 11:09 UTC Overview →

Growth & profitability

Revenue has grown 8.4% per year over the past 5 years.
Operating margin has expanded, at 27.1% in the latest year.
Free cash flow has grown 7.3% per year over the past 5 years.

Financial health

Total debt ($1.8B) exceeds cash ($97M); net debt is $1.7B.
Total debt has grown slower than revenue (1.8% vs 8.4% per year).
Operating income covered interest expense 16× in the latest year.
Total debt is 3.9× EBITDA.

Shareholder returns

Dividends have been paid for 3 consecutive years, consuming 55.0% of earnings and 21.0% of free cash flow.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$872M	$114M	0.0%	27.1%	24.7%	4.5%	$300M	$1.8B	$97M
2024	$831M	$113M	0.0%	24.1%	19.6%	4.2%	$306M	$1.8B	$94M
2023	$791M	$15M	0.0%	10.3%	1.7%	0.6%	$241M	$1.5B	$72M
2022	$721M	$9M	0.0%	10.6%	0.8%	0.3%	$273M	$1.5B	$169M
2021	$615M	-$9M	0.0%	7.5%	-0.7%	-0.3%	$261M	$1.6B	$321M
2020	$583M	-$56M	0.0%	6.1%	-3.9%	-1.7%	$211M	$1.6B	$237M
2019	$560M	-$162M	0.0%	1.8%	-11.1%	-4.5%	$80M	$1.8B	$224M
2018	—	-$13M	—	—	-0.8%	-0.3%	-$128M	$1.8B	$273M
2017	—	$234M	—	—	14.6%	6.2%	-$140M	$1.6B	$286M
2016	—	$111M	—	—	8.3%	3.2%	—	$1.8B	$371M
2015	—	$7M	—	—	0.6%	0.2%	—	—	$186M
2014	—	$75M	—	—	6.1%	2.6%	—	—	$211M
2013	—	$63M	—	—	6.7%	2.7%	—	—	$186M
2012	—	$65M	—	—	7.4%	3.4%	-$268M	—	$254M
2011	—	$41M	—	—	5.8%	3.0%	-$176M	—	$136M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$246M	$107M	0.0%	12.9%	18.5%	3.5%	$68M	—	$98M
Jun '26	$225M	$10M	0.0%	15.1%	2.0%	0.4%	$92M	—	$184M
Mar '26	$219M	$22M	0.0%	23.2%	4.6%	0.9%	$42M	—	$112M
Dec '25	$213M	$25M	0.0%	25.9%	5.4%	1.0%	$75M	$1.8B	$97M
Sep '25	$227M	$37M	0.0%	30.9%	8.2%	1.5%	$79M	—	$89M
Jun '25	$217M	$22M	0.0%	23.2%	4.6%	0.9%	$109M	—	$79M
Mar '25	$215M	$30M	0.0%	28.1%	5.9%	1.2%	$37M	—	$51M
Dec '24	$213M	$36M	0.0%	24.5%	6.3%	1.4%	$81M	$1.8B	$94M
Sep '24	$213M	$24M	0.0%	25.8%	3.7%	0.9%	$100M	—	$160M
Jun '24	$201M	$32M	0.0%	21.7%	4.1%	1.2%	$69M	—	$64M
Mar '24	$204M	$20M	0.0%	24.4%	2.3%	0.7%	$57M	—	$174M
Dec '23	$195M	$38M	0.0%	23.8%	4.3%	1.4%	$72M	$1.5B	$72M
Sep '23	$198M	-$2M	0.0%	14.2%	-0.2%	-0.1%	$59M	—	$68M
Jun '23	$193M	-$31M	0.0%	-8.3%	-3.1%	-1.1%	$65M	$1.5B	$103M
Mar '23	$205M	$10M	0.0%	11.3%	0.9%	0.3%	$46M	$1.5B	$127M
Dec '22	$194M	-$808000	0.0%	9.7%	-0.1%	-0.0%	$64M	$1.5B	$169M
Sep '22	$184M	$2M	0.0%	9.7%	0.2%	0.1%	$75M	$1.6B	$219M
Jun '22	$175M	$5M	0.0%	11.9%	0.4%	0.1%	$82M	$1.6B	$227M
Mar '22	$168M	$3M	0.0%	11.4%	0.2%	0.1%	$52M	$1.6B	$232M
Dec '21	$156M	-$6M	0.0%	6.8%	-0.5%	-0.2%	$76M	$1.6B	$321M

Valuation over time

How the market has priced IRDM against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 753.5× (Mar '23) to 40.6× (Nov '26).
The price-to-sales ratio has fallen from 9.1× (Mar '23) to 5.3× (Nov '26).
The dividend yield has fallen from 1.7% (Jan '24) to 1.4% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is IRDM growing its revenue and profit?

Over the past 5 years, Iridium Communications Inc.'s revenue has grown 8.4% per year. These are computed facts, not advice.

How much debt does IRDM have?

As of FY2025, Iridium Communications Inc. reported $1.8B of total debt against $97M of cash; operating income covered interest expense 16×.

What is IRDM's profit margin?

In FY2025, gross margin was —, operating margin 27.1%, and net margin 13.1%.

What is IRDM's P/E ratio?

Iridium Communications Inc.'s P/E (TTM) is 28.49 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the IRDM stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 40.6× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.