Author argues Eutelsat is an undervalued GEO+LEO satellite operator with government backing and long-term contracts, offering upside versus hyped US peers.
ETL.PA — LONG Eutelsat combines GEO and LEO networks after the OneWeb merger, placing it alongside US names like Iridium and AST SpaceMobile but with far less hype and a much lower valuation. The stock has been crushed by high debt and execution risk, yet it has strong backing from France/EU governments and long-term contracts across defense, aviation, telecom and government services. Rising geopolitical noise and strategic interest in space infrastructure could bring the name back onto investors' radar. The author explicitly flags high risk and high volatility as the main caveat.
Eutelsat is one of the few global satellite players combining GEO and LEO networks after the OneWeb merger. That puts it in the same lane as US names like Iridium ($IRDM) or AST SpaceMobile ($ASTS) — just with way less hype and a much lower valuation.