Company Valuation: SATS Ltd.

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,871 4,870 4,150 3,876 4,577 6,411 - -
Change - -0.02% -14.79% -6.6% 18.09% 40.07% - -
Enterprise Value (EV) 1 4,669 4,595 4,922 7,309 8,127 8,583 9,350 9,044
Change - -1.59% 7.12% 48.5% 11.19% 5.62% -1.39% -3.27%
P/E -61.3x 241x -127x 68.4x 19x 18.7x 20.7x 17.8x
PBR 3.15x 3.04x 1.62x 1.63x 1.77x 1.89x 2.16x 1.99x
PEG - -2x 1x -0x 0x 1.2x 2.41x 1.1x
Capitalization / Revenue 5.02x 4.14x 2.36x 0.75x 0.79x 0.82x 0.98x 0.93x
EV / Revenue 4.81x 3.9x 2.8x 1.42x 1.4x 1.35x 1.42x 1.31x
EV / EBITDA 38.8x 48.8x 28.4x 8.21x 7.84x 7.49x 7.71x 7.19x
EV / EBIT -462x -108x -103x 29.9x 17.1x 15.8x 17x 15x
EV / FCF 83.1x -295x -124x 22.4x 12.1x 12.5x 21.6x 15.7x
FCF Yield 1.2% -0.34% -0.81% 4.47% 8.24% 7.99% 4.63% 6.37%
Dividend per Share 2 - - - 0.015 0.05 0.07 0.0694 0.0803
Rate of return - - - 0.58% 1.62% 1.99% 1.58% 1.83%
EPS 2 -0.071 0.018 -0.022 0.038 0.162 0.188 0.2116 0.2461
Distribution rate - - - 39.5% 30.9% 37.2% 32.8% 32.6%
Net sales 1 970 1,177 1,758 5,150 5,821 6,346 6,571 6,916
EBITDA 1 120.3 94.2 173.2 890.6 1,036 1,146 1,212 1,259
EBIT 1 -10.1 -42.6 -48 244.2 475.7 543.3 550.5 603.3
Net income 1 -78.9 20.4 -26.5 56.4 243.8 285.2 317.4 365.3
Net Debt 1 -201.7 -275.2 772 3,433 3,550 3,384 2,940 2,634
Reference price 2 4.350 4.340 2.790 2.600 3.080 4.390 4.390 4.390
Nbr of stocks (in thousands) 1,119,693 1,122,088 1,487,296 1,490,631 1,485,900 1,477,101 - -
Announcement Date 5/27/21 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.($)
22.53x1.56x8.65x1.39% 5.01B
17.13x6.65x11.11x4.55% 45.59B
18.99x6.13x11.73x4.55% 14.83B
18.22x2.91x8.61x3.4% 12.59B
680.55x9.99x24.89x-.--% 12.09B
24.29x6.47x11.73x3.02% 9.43B
12.5x4.13x7.65x5.26% 9.04B
21.59x2.86x6.52x2.29% 8.57B
45.64x16.62x23.34x1.57% 8.3B
12.78x2.25x6.16x2.22% 4.34B
Average 87.42x 5.96x 12.04x 2.82% 12.98B
Weighted average by Cap. 81.60x 6.40x 12.24x 3.41%

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

-40%: Exceptional extension
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