Company Valuation: SATS Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 4,870 4,150 3,876 4,577 5,199 7,031 - -
Change - -14.79% -6.6% 18.09% 13.61% 35.22% - -
Enterprise Value (EV) 1 4,595 4,922 7,309 8,127 8,583 9,976 9,678 8,750
Change - 7.12% 48.5% 11.19% 5.62% 16.23% -2.99% -9.59%
P/E 241x -127x 68.4x 19x 18.7x 21.5x 18.2x 15.8x
PBR 3.04x 1.62x 1.63x 1.77x 1.89x 2.33x 2.14x 2x
PEG - 1x -0x 0x 1.2x 1.3x 1x 1x
Capitalization / Revenue 4.14x 2.36x 0.75x 0.79x 0.82x 1.06x 1x 0.93x
EV / Revenue 3.9x 2.8x 1.42x 1.4x 1.35x 1.5x 1.37x 1.16x
EV / EBITDA 48.8x 28.4x 8.21x 7.84x 7.49x 8.17x 7.5x 6.26x
EV / EBIT -108x -103x 29.9x 17.1x 15.8x 17.4x 15.1x 12.2x
EV / FCF -295x -124x 22.4x 12.1x 12.5x 22.6x 16.3x 12.6x
FCF Yield -0.34% -0.81% 4.47% 8.24% 7.99% 4.42% 6.12% 7.92%
Dividend per Share 2 - - 0.015 0.05 0.07 0.0717 0.0853 0.1043
Rate of return - - 0.58% 1.62% 1.99% 1.52% 1.8% 2.2%
EPS 2 0.018 -0.022 0.038 0.162 0.188 0.22 0.2596 0.2995
Distribution rate - - 39.5% 30.9% 37.2% 32.6% 32.9% 34.8%
Net sales 1 1,177 1,758 5,150 5,821 6,346 6,658 7,045 7,537
EBITDA 1 94.2 173.2 890.6 1,036 1,146 1,222 1,290 1,398
EBIT 1 -42.6 -48 244.2 475.7 543.3 574.8 641 720.1
Net income 1 20.4 -26.5 56.4 243.8 285.2 329.5 386.9 437.7
Net Debt 1 -275.2 772 3,433 3,550 3,384 2,946 2,647 1,719
Reference price 2 4.340 2.790 2.600 3.080 3.520 4.730 4.730 4.730
Nbr of stocks (in thousands) 1,122,088 1,487,296 1,490,631 1,485,900 1,477,101 1,486,416 - -
Announcement Date 5/30/22 5/29/23 5/29/24 5/23/25 5/25/26 - - -
1SGD in Million2SGD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.5x1.5x8.17x1.52% 5.45B
17.08x6.64x11.12x4.54% 45.6B
18.54x5.81x10.97x5.73% 12.85B
17.66x2.85x8.43x3.73% 11.99B
673.88x9.91x24.7x-.--% 11.75B
22.7x6.15x11.11x3.24% 8.74B
21.92x2.92x6.65x2.25% 8.71B
46x16.72x23.5x1.55% 8.46B
9.81x3.76x6.79x5.16% 8.07B
12.1x2.14x5.86x2.34% 4.11B
Average 86.12x 5.84x 11.73x 3% 12.57B
Weighted average by Cap. 80.88x 6.33x 12.06x 3.54%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield