AST SpaceMobile
ASTS Nasdaq Wireless Telecommunication Services 金融 FY2021–FY2025
AST SpaceMobile's revenue rose 1511.8% to $71 million in fiscal 2025. Its net margin was −482.2%, up from −6,820.1% a year earlier. Free cash flow was −$1.1 billion. The diluted share count rose 65.7%.
关于这些数据。 AST SpaceMobile's figures start in 2021, the year it listed by merging with New Providence Acquisition Corp; the 2020 figures in its filings mix that blank-check company's and AST's own. AST SpaceMobile's income statement has no operating income line in the SEC's structured data, so operating income and the ratios built on it are left blank. AST SpaceMobile's filings from 2022 tag its earnings per share only for its Class A shares, so per-share figures are blank from then.
AST SpaceMobile 的业务
AST SpaceMobile is building a network of satellites in low Earth orbit meant to give ordinary smartphones cellular broadband service where land-based coverage does not reach. The company calls the planned product the SpaceMobile Service. It is still in development, and the company has not yet started to earn revenue from it. It also pursues government uses for its technology and patents.
The plan is to work through mobile network operators (MNOs), the phone companies that already serve users. AST says it has partnerships with over 50 of them, with nearly 3 billion subscribers worldwide. Users would not need new equipment or have to sign up with AST. AST intends to use a revenue-sharing model in its agreements with the operators, though it describes this as an intention.
The network uses spectrum, the radio frequencies that carry signals, that belongs to the operators, and AST has signed usage agreements for more. These include an agreement with Ligado Networks for mid-band spectrum, which still depends on conditions including regulatory approval. AST says it owns the technology and controls the manufacturing, itself or through contract makers, for approximately 95% of the sub-systems in its Block 2 satellites. It reported a net loss attributable to common stockholders of $341.9 million for 2025.
- 法定名称
- AST SPACEMOBILE, INC.
- 财年结束日
- 2025年12月31日
- 最新年报
- 10-K · 2026年3月2日
- 登记号 · CIK
- 0001780312-26-000006
0001780312
营收与利润率
AST SpaceMobile 在 2025 财年 营收为 $70.9M，同比增长 1,511.8%。
净利润与每股收益
亏损期间以红色显示。
资本回报率
税后营业利润占投入业务资金(债务加股东权益减现金)的比例。
现金流
2025 财年 的自由现金流为 −$1.1B，占营收的 −1,602.2%。 经营现金流减资本支出。
股息、回购与股数
AST SpaceMobile 在 2025 财年 向股东返还 $0.0M。 稀释股数增加 65.7%。
自己评估 AST SpaceMobile
调整假设，查看对应的每股价值。这些是模型，不是预测或目标价，结果完全取决于你的输入。
现金流折现
每股价值
—
加上净现金 $2.1B，再除以 256.0M 稀释股数。十年现金流加终值，折现至今天。
资产负债表
现金、债务以及显示 AST SpaceMobile 承担债务能力的指标。
| 财年末 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| 现金及短期投资 | $637M | $469M | $155M | $1.1B | $4.3B |
| 债务(含融资租赁) | $5.0M | $4.8M | $59.5M | $159M | $2.2B |
| 债务 / 股东权益 | 0.0x | 0.0x | 0.3x | 0.2x | 0.9x |
| 利息保障倍数 | −5,609.0x | −511.5x | −48.1x | −27.1x | −13.4x |
| 流动比率 | 15.7x | 9.7x | 2.3x | 7.9x | 16.4x |
| 速动比率 | 15.6x | 9.7x | 2.3x | 7.9x | 16.3x |
| 总资产 | $444M | $438M | $361M | $955M | $5.0B |
| 总负债 | $92.0M | $78.5M | $147M | $285M | $2.6B |
| 股东权益 | $352M | $360M | $214M | $669M | $2.4B |
| 净债务 (− = 净现金) | −$632M | −$465M | −$95.8M | −$917M | −$2.1B |
内部人交易
高管、董事和持股超过 10% 的股东在公开市场的买卖，数据来自 Form 4 申报。“计划”表示依据事先制定的 Rule 10b5-1 计划进行的交易。
买入(12 个月)
$0.7M
2 名内部人士
卖出(12 个月)
$287M
5 名内部人士
卖出中按计划执行的比例
3%
$9.8M
| 日期 | 内部人士 | 交易 | 股数 | 股价 | 金额 | 文件 |
|---|---|---|---|---|---|---|
| 2026年9月16日 | Huiwen YaoChief Technology Officer | 卖出 计划 | 40,000 | $58.93 | $2.4M | Form 4 |
| 2026年9月16日 | Shanti B. GuptaChief Operating Officer | 卖出 | 12,000 | $58.89 | $0.7M | Form 4 |
| 2026年8月31日 | Adriana CisnerosDirector | 买入 | 10,822 | $57.22 | $0.6M | Form 4 |
| 2026年6月11日 | Andrew Martin JohnsonCFO and CLO, Director | 卖出 | 45,809 | $93.81 | $4.3M | Form 4 |
| 2026年6月5日 | Huiwen YaoChief Technology Officer | 卖出 计划 | 40,000 | $96.37 | $3.9M | Form 4 |
| 2026年5月20日 | Andrew Martin JohnsonCFO and CLO, Director | 卖出 | 5,000 | $90.25 | $0.5M | Form 4 |
| 2026年5月13日 | Julio A. TorresDirector | 卖出 | 15,000 | $76.34 | $1.1M | Form 4 |
| 2026年4月15日 | Rakuten Group Inc.10% owner | 卖出 | 1,350,000 | $86.22 | $116M | Form 4 |
| 2026年4月14日 | Rakuten Group Inc.10% owner | 卖出 | 1,690,000 | $91.42 | $154M | Form 4 |
| 2026年3月23日 | Huiwen YaoChief Technology Officer | 卖出 计划 | 40,000 | $88.88 | $3.6M | Form 4 |
| 2025年12月24日 | Keith R LarsonDirector | 买入 计划 | 625 | $80.00 | $0.1M | Form 4 |
| 2025年12月17日 | Keith R LarsonDirector | 买入 计划 | 715 | $70.02 | $0.1M | Form 4 |
Piotroski F 分数
关于盈利能力、融资和效率的九项通过/未通过测试。8–9 为强，0–2 为弱。
| 测试项 | FY23 | FY24 | FY25 |
|---|---|---|---|
| 净利润为正 | ✕ | ✕ | ✕ |
| 经营现金流为正 | ✕ | ✕ | ✕ |
| 资产回报率上升 | ✕ | ✕ | ✓ |
| 经营现金流高于净利润 | ✕ | ✓ | ✓ |
| 债务相对资产下降 | ✕ | ✕ | ✕ |
| 流动比率上升 | ✕ | ✓ | ✓ |
| 股数未增加 | — | ✕ | ✕ |
| 毛利率上升 | — | — | — |
| 营收相对资产上升 | ✕ | ✓ | ✓ |
| F 分数 | — / 9 | 3 / 8 | 4 / 8 |
| 应计比率 | 15.4% | −26.5% | −9.1% |
| Altman Z'' | −3.12 | 0.83 | 2.87 |
相似公司
各公司最近一个财年的数据。各公司财年结束月份不同，因此期间并不完全一致。
| 公司 | 市值 | 增长 | 营业利润率 | 自由现金流利润率 | ROIC | 市盈率 | F 分数 | |
|---|---|---|---|---|---|---|---|---|
| AST SpaceMobile ASTS | $11.9B | 1,511.8% | — | −1,602.2% | — | — | 4 | |
| Shenandoah Telecommunications SHEN | $575M | 9.1% | −6.5% | −72.1% | −1.3% | — | 3 | 比较 → |
| EchoStar ECHO | $31.3B | −5.2% | −118.1% | −7.1% | −39.9% | — | 1 | 比较 → |
| T-Mobile US TMUS | $158.6B | 8.5% | 20.7% | 20.4% | 9.8% | 15.3x | 6 | 比较 → |
| Rumble RUM | $1.6B | 5.4% | −125.9% | −74.0% | — | — | — | 比较 → |
5 年数据
金额单位为 USD。将鼠标悬停在指标名称上可查看定义。
| 财年 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| 利润表 | |||||
| 营收 | $12.4M | $13.8M | $0.0M | $4.4M | $70.9M |
| 毛利 | $4.8M | $7.1M | $0.0M | — | — |
| 研发支出 | $23.4M | $45.6M | $47.5M | $28.8M | $28.1M |
| 利息支出 | $0.0M | $0.2M | $4.5M | $18.7M | $31.8M |
| 税前利润 | −$72.9M | −$103M | −$221M | −$525M | −$457M |
| 所得税 | $0.3M | $0.6M | $1.7M | $1.3M | $3.9M |
| 净利润 | −$30.6M | −$31.6M | −$87.6M | −$300M | −$342M |
| 稀释每股收益 | −$0.37 | — | — | — | — |
| 稀释股数 | 0.05B | — | 0.08B | 0.15B | 0.26B |
| 现金流 | |||||
| 经营现金流 | −$80.1M | −$157M | −$149M | −$126M | −$71.5M |
| 资本支出 | $15.1M | $57.3M | $119M | $174M | $1.1B |
| 自由现金流 | −$95.2M | −$214M | −$268M | −$300M | −$1.1B |
| 折旧与摊销 | $2.9M | $4.7M | $54.5M | $63.3M | $51.1M |
| 股权激励 | $3.7M | $9.4M | $13.3M | $32.0M | $47.5M |
| 收购 | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| 股票回购 | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| 已付股息 | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| 股息与回购 | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| 资产负债表 | |||||
| 现金及短期投资 | $637M | $469M | $155M | $1.1B | $4.3B |
| 总债务 | $5.0M | $4.8M | $59.5M | $159M | $2.2B |
| 融资租赁负债 | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| 流动资产 | $336M | $268M | $107M | $600M | $2.5B |
| 流动负债 | $21.4M | $27.8M | $46.2M | $75.9M | $150M |
| 存货 | $1.4M | $0.0M | $0.0M | $1.1M | $12.0M |
| 固定资产净额 | $95.9M | $146M | $239M | $338M | $1.4B |
| 总资产 | $444M | $438M | $361M | $955M | $5.0B |
| 总负债 | $92.0M | $78.5M | $147M | $285M | $2.6B |
| 股东权益 | $352M | $360M | $214M | $669M | $2.4B |
| 利润率 | |||||
| 毛利率 | 39.0% | 51.4% | — | — | — |
| EBITDA 利润率 | −564.3% | −705.9% | — | −10,067.3% | −527.7% |
| 净利率 | −246.3% | −228.9% | — | −6,820.1% | −482.2% |
| 自由现金流利润率 | −767.2% | −1,546.1% | — | −6,824.3% | −1,602.2% |
| 回报率 | |||||
| 已动用资本回报率 | — | −24.6% | −59.7% | −84.9% | −14.8% |
| 股本回报率 | — | −8.9% | −30.5% | −68.0% | −22.3% |
| 资产回报率 | — | −7.2% | −21.9% | −45.6% | −11.5% |
| 增长 | |||||
| 营收增长 | — | 11.5% | −100.0% | — | 1,511.8% |
| 股数变化 | — | — | — | 88.8% | 65.7% |
| 财务健康 | |||||
| 债务 / 股东权益 | 0.0x | 0.0x | 0.3x | 0.2x | 0.9x |
| 利息保障倍数 | −5,609.0x | −511.5x | −48.1x | −27.1x | −13.4x |
| 流动比率 | 15.7x | 9.7x | 2.3x | 7.9x | 16.4x |
| 速动比率 | 15.6x | 9.7x | 2.3x | 7.9x | 16.3x |
| 资本配置 | |||||
| 资本支出 / 营收 | 121.6% | 414.4% | — | 3,957.4% | 1,501.4% |
| 股权激励 / 营收 | 30.1% | 67.9% | — | 728.2% | 67.0% |
| 质量评分 | |||||
| Piotroski F 分数 | — | — | — | 3.0 | 4.0 |
| Altman Z'' | 7.0 | 6.1 | −3.1 | 0.8 | 2.9 |
| 应计比率 | — | 28.3% | 15.4% | −26.5% | −9.1% |
来源：SEC EDGAR XBRL 文件 (CIK 0001780312). 数据更新于 2026年10月11日。 第四季度数据为全年减去前九个月。 仅供参考，不构成投资建议。依赖任何数字前，请核对原始文件。