Tool · XLSX · version 1.0
Who can afford to build a second mobile network
Five incumbents modelled to the money left after capex and dividends, and four satellite operators as filed beside them.
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Who it is for
Investors, corporate development, and anyone sizing a competitive response.
What is in it
- Five American incumbents and four satellite operators, FY2025 and H1 2026, as filed
- Operating cash flow less capex less dividends for the five incumbents, per company and in total
- A scenario: put a build cost against it and see what share of the sector’s discretionary cash it consumes
- A switch for whether the cable operators count, since the published $33.8B headline is the three mobile carriers only
- The four satellite operators as filed, for comparison. Reference figures, not modelled
What it will not do
It measures capacity, not intent. A company with the money may have no reason to spend it this way.
Sources
Company Forms 10-K (FY2025) and 10-Q (Q2 2026) as filed with the SEC, via EDGAR XBRL company facts. Retrieved 17 September 2026.
The analysis behind it
If you use this and find an error, tell us at hello@blueprysm.com and we will correct it and say what changed. Last updated 29 September 2026.
Start with a diagnosis
Tell us what you are trying to decide. We reply in writing within two working days, with how we would approach it, what it would take and what it would cost.