DISH Network Corp  DISH

Summary (from latest annual report – 2015)

• Total equity  : 5.87 billion USD
• Market Cap is 22.2 billion USD ( last price of the stock is 47.90 USD)
• DISH Network Corp provides a direct broadcast satellite subscription television service in the United States. The Company offers subscription television, audio programming and interactive television services in the United States
• Equity of total company increased from 5.13 billion USD in 2014 to 5.87 billion in 2015
• Company has 1.05 billion USD in cash on account (from latest annual report  2015 year)
• Total equity – cash on account = 5.87 billion usd – 1.05 billion usd = 4.82 billion usd
• In 2015 company has 12.5 billion usd long-term debt, short – term debt was zero                  (In 2014 company had 13.8 billion usd long-term debt , short-term debt was zero)
• DISH balance sheet has become stronger  in 2015 (In latest annual report - total equity increased to 5.87 billion  USD from 5.13 in 2014, total debt was zero in 2015)
• Company's revenue increased in 2015 to 15.06 billion usd from 14.64 billion in 2014
• Net income decreased in 2015 to 769 million USD from 929 billion usd in 2014

DISH Network Corp Subsidiaries

DISH Network Corporation, incorporated on April 26, 1995, is a holding company. The company provides satellite television, satellite internet, audio programming, and interactive television services to commercial and residential customers in the United States. The Company operates through two segments: DISH and Wireless. In 2015, the company provided services to 13.93 million television and 595,000 broadband subscribers. In January 2008, Dish Network was spun off from EchoStar, its former parent company.

DISH Network Corporation standalone subsidiaries are :

• In 2011 DISH acquired  Blockbuster  for 320 million usd
• In 2011 DISH acquired  DBSD North America  for 1 billion usd
• In 2011 DISH acquired TerreStar Networks for 1.38 billion usd
• DISH acquired Liberty Bell Telecom for undisclosed amount, worth 100 million usd

On September 27, 2012, Dish Network announced a satellite broadband service called DishNET, the Company also offers Sling TV, a live, linear streaming over-the-top (OTT) service, including 14 channels offered for a monthly subscription ( DishNet and Sling TV worth together 1 billion usd)

The Company owns a range of wireless spectrum licenses and related assets (700 megahertz (MHz) Licenses, AWS-4 Licenses and H Block Licenses)

Dish Network acquired H-Block Spectrum for 1.56 billion usd

DISH owns an 85% non-controlling interest in Northstar Spectrum. Doyon owns 15 percent of Northstar, a stake it acquired for $120 million, DISH owns the other 85 percent, acquired for 680 million usd.

 Total =6.04 billion usd

Opinion about the company

Fundamentally it is a good company and in the future we can expect its growth (Total debt is very big (12.5 billion usd), big amount of cash on company's account, ROE is around 31 %).