A Look at Dish Network’s Financial Metrics
Dish’s financial metrics
Dish Network’s (DISH) stock price closed at $56.66 on August 28. The company had a market capitalization of $26.4 billion and an enterprise value of $41.6 billion on August 28.
At the end of 2Q17, Dish had a cash balance of $2.4 billion on its balance sheet and total debt of $17.2 billion. Dish had a debt-to-total-capital ratio of 77% at the end of 2Q17. Dish has a debt-to-enterprise value of 41%.
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How Dish is looking at acquiring spectrum
At the company’s 2Q17 earnings call, Dish Network (DISH) was asked about the value of its spectrum. The company replied that it was looking at transitioning to a connectivity company through its spectrum holdings. Dish views its pay-TV business as a declining business, but it is focused on generating cash from this business and expand the margins of its Sling TV service.
Dish is looking to finance its spectrum spending through debt, and the company’s interest expense rose on a year-over-year basis in 2Q17. During the company’s 2Q17 earnings call, Dish Network’s CFO, Steven E. Swain, noted that the company expects to spend less cash in taxes this year as a result of “lower 2017 pre-tax income, higher bond interest deduction, and planning for the incremental tax deduction from amortizing our newly acquired 600 megahertz licenses.”