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SATS ASA (SATS.OL) Stock Fundamental Analysis

OSL:SATS - Euronext Oslo - NO0010863285 - Common Stock - Currency: NOK

36.2  -0.05 (-0.14%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to SATS. SATS was compared to 60 industry peers in the Hotels, Restaurants & Leisure industry. SATS scores excellent on profitability, but there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on SATS.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year SATS was profitable.
SATS had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: SATS reported negative net income in multiple years.
In the past 5 years SATS always reported a positive cash flow from operatings.
SATS.OL Yearly Net Income VS EBIT VS OCF VS FCFSATS.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B

1.2 Ratios

The Return On Assets of SATS (3.71%) is better than 61.67% of its industry peers.
SATS's Return On Equity of 25.60% is amongst the best of the industry. SATS outperforms 88.33% of its industry peers.
SATS's Return On Invested Capital of 8.05% is fine compared to the rest of the industry. SATS outperforms 66.67% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for SATS is significantly below the industry average of 11.95%.
The 3 year average ROIC (4.85%) for SATS is below the current ROIC(8.05%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 3.71%
ROE 25.6%
ROIC 8.05%
ROA(3y)1.05%
ROA(5y)-1.17%
ROE(3y)5.86%
ROE(5y)-22.54%
ROIC(3y)4.85%
ROIC(5y)N/A
SATS.OL Yearly ROA, ROE, ROICSATS.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 -40 -60 -80

1.3 Margins

SATS has a better Profit Margin (6.66%) than 61.67% of its industry peers.
In the last couple of years the Profit Margin of SATS has grown nicely.
With a decent Operating Margin value of 14.79%, SATS is doing good in the industry, outperforming 76.67% of the companies in the same industry.
SATS's Operating Margin has improved in the last couple of years.
With an excellent Gross Margin value of 97.27%, SATS belongs to the best of the industry, outperforming 96.67% of the companies in the same industry.
In the last couple of years the Gross Margin of SATS has remained more or less at the same level.
Industry RankSector Rank
OM 14.79%
PM (TTM) 6.66%
GM 97.27%
OM growth 3YN/A
OM growth 5Y2.73%
PM growth 3YN/A
PM growth 5Y6.54%
GM growth 3Y0.15%
GM growth 5Y0.01%
SATS.OL Yearly Profit, Operating, Gross MarginsSATS.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80

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2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SATS is still creating some value.
Compared to 1 year ago, SATS has about the same amount of shares outstanding.
SATS has more shares outstanding than it did 5 years ago.
SATS has a better debt/assets ratio than last year.
SATS.OL Yearly Shares OutstandingSATS.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
SATS.OL Yearly Total Debt VS Total AssetsSATS.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

Based on the Altman-Z score of 0.91, we must say that SATS is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of SATS (0.91) is worse than 61.67% of its industry peers.
The Debt to FCF ratio of SATS is 3.96, which is a good value as it means it would take SATS, 3.96 years of fcf income to pay off all of its debts.
SATS's Debt to FCF ratio of 3.96 is fine compared to the rest of the industry. SATS outperforms 75.00% of its industry peers.
SATS has a Debt/Equity ratio of 4.11. This is a high value indicating a heavy dependency on external financing.
SATS has a worse Debt to Equity ratio (4.11) than 63.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 4.11
Debt/FCF 3.96
Altman-Z 0.91
ROIC/WACC1.32
WACC6.12%
SATS.OL Yearly LT Debt VS Equity VS FCFSATS.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.3 Liquidity

A Current Ratio of 0.40 indicates that SATS may have some problems paying its short term obligations.
Looking at the Current ratio, with a value of 0.40, SATS is doing worse than 75.00% of the companies in the same industry.
SATS has a Quick Ratio of 0.40. This is a bad value and indicates that SATS is not financially healthy enough and could expect problems in meeting its short term obligations.
SATS has a Quick ratio of 0.38. This is in the lower half of the industry: SATS underperforms 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.4
Quick Ratio 0.38
SATS.OL Yearly Current Assets VS Current LiabilitesSATS.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 46.09% over the past year.
SATS shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.89% yearly.
Looking at the last year, SATS shows a small growth in Revenue. The Revenue has grown by 7.00% in the last year.
SATS shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.90% yearly.
EPS 1Y (TTM)46.09%
EPS 3YN/A
EPS 5Y0.89%
EPS Q2Q%24.32%
Revenue 1Y (TTM)7%
Revenue growth 3Y15.97%
Revenue growth 5Y4.9%
Sales Q2Q%7.81%

3.2 Future

The Earnings Per Share is expected to grow by 25.38% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 5.66% on average over the next years.
EPS Next Y46.52%
EPS Next 2Y31.36%
EPS Next 3Y25.38%
EPS Next 5YN/A
Revenue Next Year6.9%
Revenue Next 2Y6.26%
Revenue Next 3Y5.66%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
SATS.OL Yearly Revenue VS EstimatesSATS.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2B 4B 6B
SATS.OL Yearly EPS VS EstimatesSATS.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1 2 -2 3

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7

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 21.55, SATS is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of SATS indicates a somewhat cheap valuation: SATS is cheaper than 73.33% of the companies listed in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.20, SATS is valued at the same level.
With a Price/Forward Earnings ratio of 13.19, SATS is valued correctly.
Based on the Price/Forward Earnings ratio, SATS is valued cheaper than 86.67% of the companies in the same industry.
SATS is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.13, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 21.55
Fwd PE 13.19
SATS.OL Price Earnings VS Forward Price EarningsSATS.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

SATS's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. SATS is cheaper than 76.67% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, SATS is valued cheaply inside the industry as 93.33% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 4.52
EV/EBITDA 6.92
SATS.OL Per share dataSATS.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
SATS has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as SATS's earnings are expected to grow with 25.38% in the coming years.
PEG (NY)0.46
PEG (5Y)24.2
EPS Next 2Y31.36%
EPS Next 3Y25.38%

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0

5. Dividend

5.1 Amount

SATS does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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SATS ASA

OSL:SATS (5/28/2025, 7:00:00 PM)

36.2

-0.05 (-0.14%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-21 2025-08-21
Inst Owners24.3%
Inst Owner ChangeN/A
Ins Owners2.76%
Ins Owner ChangeN/A
Market Cap7.41B
Analysts85.45
Price Target39.78 (9.89%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)7%
Min EPS beat(2)-3.01%
Max EPS beat(2)17.01%
EPS beat(4)3
Avg EPS beat(4)5.84%
Min EPS beat(4)-3.01%
Max EPS beat(4)17.01%
EPS beat(8)7
Avg EPS beat(8)127.83%
EPS beat(12)10
Avg EPS beat(12)111.81%
EPS beat(16)12
Avg EPS beat(16)69.32%
Revenue beat(2)1
Avg Revenue beat(2)-0.13%
Min Revenue beat(2)-1.28%
Max Revenue beat(2)1.01%
Revenue beat(4)1
Avg Revenue beat(4)-1.04%
Min Revenue beat(4)-1.97%
Max Revenue beat(4)1.01%
Revenue beat(8)2
Avg Revenue beat(8)-1.15%
Revenue beat(12)3
Avg Revenue beat(12)-1.57%
Revenue beat(16)5
Avg Revenue beat(16)-1.76%
PT rev (1m)4.7%
PT rev (3m)4.7%
EPS NQ rev (1m)5.11%
EPS NQ rev (3m)16.13%
EPS NY rev (1m)0%
EPS NY rev (3m)-0.26%
Revenue NQ rev (1m)1.54%
Revenue NQ rev (3m)1.46%
Revenue NY rev (1m)0.91%
Revenue NY rev (3m)1.08%
Valuation
Industry RankSector Rank
PE 21.55
Fwd PE 13.19
P/S 1.43
P/FCF 4.52
P/OCF 3.79
P/B 5.51
P/tB N/A
EV/EBITDA 6.92
EPS(TTM)1.68
EY4.64%
EPS(NY)2.74
Fwd EY7.58%
FCF(TTM)8.01
FCFY22.13%
OCF(TTM)9.54
OCFY26.36%
SpS25.23
BVpS6.57
TBVpS-6.35
PEG (NY)0.46
PEG (5Y)24.2
Profitability
Industry RankSector Rank
ROA 3.71%
ROE 25.6%
ROCE 10.98%
ROIC 8.05%
ROICexc 8.52%
ROICexgc 14.26%
OM 14.79%
PM (TTM) 6.66%
GM 97.27%
FCFM 31.75%
ROA(3y)1.05%
ROA(5y)-1.17%
ROE(3y)5.86%
ROE(5y)-22.54%
ROIC(3y)4.85%
ROIC(5y)N/A
ROICexc(3y)5.1%
ROICexc(5y)N/A
ROICexgc(3y)8.52%
ROICexgc(5y)N/A
ROCE(3y)6.62%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y5.23%
ROICexc growth 3YN/A
ROICexc growth 5Y5.59%
OM growth 3YN/A
OM growth 5Y2.73%
PM growth 3YN/A
PM growth 5Y6.54%
GM growth 3Y0.15%
GM growth 5Y0.01%
F-Score9
Asset Turnover0.56
Health
Industry RankSector Rank
Debt/Equity 4.11
Debt/FCF 3.96
Debt/EBITDA 2.82
Cap/Depr 26.19%
Cap/Sales 6.06%
Interest Coverage 2.55
Cash Conversion 99.69%
Profit Quality 476.74%
Current Ratio 0.4
Quick Ratio 0.38
Altman-Z 0.91
F-Score9
WACC6.12%
ROIC/WACC1.32
Cap/Depr(3y)20.33%
Cap/Depr(5y)20.75%
Cap/Sales(3y)5.16%
Cap/Sales(5y)5.82%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)46.09%
EPS 3YN/A
EPS 5Y0.89%
EPS Q2Q%24.32%
EPS Next Y46.52%
EPS Next 2Y31.36%
EPS Next 3Y25.38%
EPS Next 5YN/A
Revenue 1Y (TTM)7%
Revenue growth 3Y15.97%
Revenue growth 5Y4.9%
Sales Q2Q%7.81%
Revenue Next Year6.9%
Revenue Next 2Y6.26%
Revenue Next 3Y5.66%
Revenue Next 5YN/A
EBIT growth 1Y17%
EBIT growth 3YN/A
EBIT growth 5Y7.76%
EBIT Next Year190.64%
EBIT Next 3Y48.12%
EBIT Next 5YN/A
FCF growth 1Y51.29%
FCF growth 3Y34.29%
FCF growth 5Y9.06%
OCF growth 1Y48.18%
OCF growth 3Y28.52%
OCF growth 5Y7.74%