"I think for that comparison to have any meaning, debt should be figured into the market cap. "
I did not mean to compare them to each other. But, to compare them each to Bankrupt Globalstar with 3.5 Billion in debt.
But here are the debt figures along with cash and equivs. (not including credit avail.)
Maybe an interesting metric would be "Debt per subscriber" To achieve this I subtracted Cash and Equivs from Long Term Debt and Divided it by the subscriber base.
Globasltar LP via GTL. 23 million........68,000..3,500 M BANKRUPT
Airgate PCSA..................23 million.......505,000...555 M/ 25M... $1,053
Leap Wireless................37 million.....1,390,000..1,871 M/270M.. $1,151
UBIQUITEL.......................65 million........202,000..405 M/105M.. $1,485
Dobson..............................87 million........640,000 1,278 M/ 248M $1,609
Alamosa...........................109 million.......551.000 846 M / 129M... $1,301
Western Wireless...........237 million.....1,159,500 ..2,258M **/ 50M ... $1,904
US Unwired.....................389 million.......310.000 390 M / 58M $1,070
Which shows that the company with the lowest debt per subscriber basis compared is Airgate which comes in at $1,053 (which has the LOWEST market cap). Next comes Unwired at $1,070 (which has the highest market cap) and Leap at $1,151. Which shoudl be noted. That LWIN holds licenses to cover some 53 million POP's. While the Sprint Affiliates (in large) own little or no spectrum and only use Sprint Spectrum licensed airwaves.
Which WWCA has the Highest Debt per subscriber, (with a declining subscriber base) and they require substantial funding to convert much of their system to CDMA.
If LWIN subs come in at 1.5 Million and the rest of the companies hit their sub targets. LWIN will have the lowest Debt per Sub of any operator in this list.
PCSTEL |
