SATS LTD. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.53 SGD | +0.80% |
|
+4.55% | -8.00% |
| Apr. 26 | SATS Unit Completes Sale of Stake in Indonesia-based Cardig Aero Service | MT |
| Apr. 17 | SATS Initiates Partial Divestment of Indonesian Subsidiary | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 5,694 | 3,533 | 4,871 | 4,870 | 4,150 | 3,771 | - | - |
| Enterprise Value (EV) 1 | 5,440 | 3,609 | 4,669 | 4,595 | 4,922 | 6,760 | 6,687 | 6,610 |
| P/E ratio | 23 x | 21.1 x | -61.3 x | 241 x | -127 x | 59.5 x | 25.5 x | 16.6 x |
| Yield | 3.72% | 1.9% | - | - | - | 0.6% | 2.11% | 3.21% |
| Capitalization / Revenue | 3.12 x | 1.82 x | 5.02 x | 4.14 x | 2.36 x | 0.74 x | 0.7 x | 0.67 x |
| EV / Revenue | 2.98 x | 1.86 x | 4.81 x | 3.9 x | 2.8 x | 1.33 x | 1.24 x | 1.17 x |
| EV / EBITDA | 14.2 x | 10.1 x | 38.8 x | 48.8 x | 28.4 x | 8.68 x | 7.44 x | 6.57 x |
| EV / FCF | 26.1 x | 21.4 x | 83.1 x | -295 x | -124 x | 26.9 x | 12.3 x | 10.1 x |
| FCF Yield | 3.83% | 4.67% | 1.2% | -0.34% | -0.81% | 3.72% | 8.13% | 9.93% |
| Price to Book | 3.45 x | 2.18 x | 3.15 x | 3.04 x | 1.62 x | 1.58 x | 1.51 x | 1.44 x |
| Nbr of stocks (in thousands) | 1,114,359 | 1,118,189 | 1,119,693 | 1,122,088 | 1,487,296 | 1,490,631 | - | - |
| Reference price 2 | 5.110 | 3.160 | 4.350 | 4.340 | 2.790 | 2.530 | 2.530 | 2.530 |
| Announcement Date | 5/16/19 | 7/9/20 | 5/27/21 | 5/30/22 | 5/29/23 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,828 | 1,941 | 970 | 1,177 | 1,758 | 5,101 | 5,408 | 5,650 |
| EBITDA 1 | 383.8 | 355.6 | 120.3 | 94.2 | 173.2 | 779.2 | 899.2 | 1,005 |
| EBIT 1 | 247 | 226.2 | -10.1 | -42.6 | -48 | 221.1 | 313.1 | 399 |
| Operating Margin | 13.51% | 11.65% | -1.04% | -3.62% | -2.73% | 4.33% | 5.79% | 7.06% |
| Earnings before Tax (EBT) 1 | 307.7 | 213.9 | -145.5 | -27.1 | -43.8 | 102.9 | 226.5 | 325.1 |
| Net income 1 | 248.4 | 168.4 | -78.9 | 20.4 | -26.5 | 48.1 | 149.6 | 226.5 |
| Net margin | 13.59% | 8.68% | -8.13% | 1.73% | -1.51% | 0.94% | 2.77% | 4.01% |
| EPS 2 | 0.2220 | 0.1500 | -0.0710 | 0.0180 | -0.0220 | 0.0425 | 0.0992 | 0.1526 |
| Free Cash Flow 1 | 208.1 | 168.4 | 56.2 | -15.6 | -39.8 | 251.2 | 543.5 | 656.2 |
| FCF margin | 11.38% | 8.68% | 5.79% | -1.33% | -2.26% | 4.92% | 10.05% | 11.61% |
| FCF Conversion (EBITDA) | 54.22% | 47.36% | 46.72% | - | - | 32.23% | 60.44% | 65.26% |
| FCF Conversion (Net income) | 83.78% | 100% | - | - | - | 522.14% | 363.38% | 289.69% |
| Dividend per Share 2 | 0.1900 | 0.0600 | - | - | - | 0.0151 | 0.0535 | 0.0812 |
| Announcement Date | 5/16/19 | 7/9/20 | 5/27/21 | 5/30/22 | 5/29/23 | - | - | - |
1SGD in Million2SGD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2023 S1 | 2023 Q3 |
|---|---|---|---|
| Net sales 1 | - | 804.5 | 475.7 |
| EBITDA | - | - | - |
| EBIT | - | - | - |
| Operating Margin | - | - | - |
| Earnings before Tax (EBT) | - | - | - |
| Net income 1 | - | -32.5 | 0.5 |
| Net margin | - | -4.04% | 0.11% |
| EPS | - | - | - |
| Dividend per Share | 0.0600 | - | - |
| Announcement Date | 11/12/19 | 11/9/22 | 2/13/23 |
1SGD in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | 75.3 | - | - | 772 | 2,989 | 2,916 | 2,839 |
| Net Cash position 1 | 254 | - | 202 | 275 | - | - | - | - |
| Leverage (Debt/EBITDA) | - | 0.2118 x | - | - | 4.458 x | 3.836 x | 3.243 x | 2.823 x |
| Free Cash Flow 1 | 208 | 168 | 56.2 | -15.6 | -39.8 | 251 | 544 | 656 |
| ROE (net income / shareholders' equity) | 15.1% | 10.3% | -5% | 1.3% | -1.3% | 2.33% | 6.52% | 9% |
| ROA (Net income/ Total Assets) | 10.4% | 6.66% | -0.78% | 0.64% | -0.67% | 1.6% | 2.61% | 3.72% |
| Assets 1 | 2,378 | 2,530 | 10,077 | 3,192 | 3,953 | 3,014 | 5,722 | 6,093 |
| Book Value Per Share 2 | 1.480 | 1.450 | 1.380 | 1.430 | 1.720 | 1.600 | 1.680 | 1.760 |
| Cash Flow per Share 2 | 0.2600 | 0.2200 | 0.0200 | 0.0600 | 0.0700 | -0.2500 | 0.3400 | 0.3900 |
| Capex 1 | 87.6 | 75.7 | 61.5 | 77.9 | 119 | 208 | 246 | 249 |
| Capex / Sales | 4.79% | 3.9% | 6.34% | 6.62% | 6.79% | 4.08% | 4.54% | 4.4% |
| Announcement Date | 5/16/19 | 7/9/20 | 5/27/21 | 5/30/22 | 5/29/23 | - | - | - |
1SGD in Million2SGD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
BUY
Number of Analysts
8
Last Close Price
2.53
SGD
Average target price
3.191
SGD
Spread / Average Target
+26.14%
EPS Revisions
Annual profits - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| -8.00% | 2.77B | |
| +7.13% | 28.15B | |
| +14.40% | 12.88B | |
| +1.11% | 12.49B | |
| +22.68% | 10.66B | |
| +6.10% | 9.26B | |
| -11.93% | 6.8B | |
| +12.66% | 6.57B | |
| +6.89% | 6.3B | |
| +38.59% | 3.57B |
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- Financials SATS Ltd.
