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SATS LTD. (S58) Fair Value & Analysis

Industrials · SG · Market cap 6.6B SGD (≈ $5.2B) · ISIN SG1I52882764

What is SATS LTD. really worth?

SL SATS LTD. S58 · SG
Price3.88 SGD
Fair Value4.03 SGD
Upside+3.9%
Quality55/100

A solid business, currently priced close to our fair value of 4.03 SGD.

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Strengths

✓Healthy Growth (revenue 5y +45.6 %/yr)
✓Moderate debt · generates free cash flow

Risks

!Thin margins · 4.5% net margin
!Trails peers (4/15)
!Moderate moat 46/100
!Weak on dividend: 28 out of 100

For context

·1.42% dividend yield
Evidence: High Range 3.02 SGD – 5.09 SGD

Fair value as of: Aug 27, 2026

From 24 valuation models · updated 9 days ago

Share price −19.7% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • The price sits in the lower half of our model range, the side with the larger margin of safety.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

4.83 SGD 2.31 SGD Fair Value 4.03 SGD Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.

How to read this chart

60‑month range 2.31 SGD – 4.83 SGD · fair‑value band 3.02 SGD – 5.09 SGD · the 3.88 SGD price screens below the 4.03 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.

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Analysis

SATS LTD. (S58) currently trades at 3.88 SGD, while our model-based Fair Value estimate is 4.03 SGD, implying the stock looks roughly 3.7% fairly valued today. The Quality Score stands at 55/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of 8.50 SGD per share, and 17 of the 24 models we run sit above the 3.88 SGD price. Bear case: the Asset-Based group reads lowest at 1.24 SGD, and 7 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, SATS LTD. generated revenue of 6.3B SGD at a net margin of 4.5%. Revenue grew 8.9% year over year. It earns a return on equity of 10.7%. Net debt stands at 1.6B SGD. Fundamentals as of Aug 27, 2026

Our scenario range runs from 3.02 SGD (bear case) to 5.09 SGD (bull case); at 3.88 SGD, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 30% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −27% fair-value upside, at 4%, S58 screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly 0.0584 SGD per share, which is 1.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF 5.97 SGD 10.37 SGD 22.71 SGD 75
Residual Income 1.62 SGD 1.80 SGD 2.86 SGD 75
EPV 2.06 SGD 2.54 SGD 2.94 SGD 74
All 24 models by family
DCF Models
FCF DCF 5.97 SGD 10.37 SGD 22.71 SGD 75
Owner Earnings 4.50 SGD 11.11 SGD 24.46 SGD 70
5Y Revenue Exit 3.55 SGD 6.86 SGD 13.23 SGD 69
5Y EBITDA Exit 6.29 SGD 12.77 SGD 24.62 SGD 71
5Y P/E Exit 3.18 SGD 6.67 SGD 11.03 SGD 68
10Y Revenue Exit 4.14 SGD 8.50 SGD 13.33 SGD 65
10Y EBITDA Exit 6.15 SGD 13.58 SGD 27.14 SGD 64
10Y P/E Exit 4.01 SGD 7.81 SGD 13.99 SGD 61
Earnings-Based
Graham-Dodd 1.30 SGD 9.10 SGD 12.77 SGD 63
Lynch FV 2.73 SGD 3.89 SGD 5.06 SGD 61
PEG = 1.0 2.73 SGD 3.89 SGD 5.06 SGD 57
EPV 2.06 SGD 2.54 SGD 2.94 SGD 74
Multiples
P/E Multiple 3.02 SGD 4.03 SGD 5.04 SGD 63
P/S Multiple 2.45 SGD 3.26 SGD 4.08 SGD 58
P/B Multiple 2.45 SGD 3.26 SGD 4.08 SGD 55
EV/EBIT 3.73 SGD 5.29 SGD 6.84 SGD 65
EV/EBITDA 6.59 SGD 9.10 SGD 11.61 SGD 67
EV/Revenue 2.40 SGD 3.83 SGD 5.25 SGD 53
Asset-Based
NCAV (Graham) 0.9300 SGD 1.24 SGD 1.85 SGD 54
Growth DCF
Growth DCF 5.63 SGD 11.46 SGD 22.21 SGD 74
Rev-Margin DCF 3.55 SGD 7.39 SGD 13.11 SGD 69
Economic Profit
Residual Income 1.62 SGD 1.80 SGD 2.86 SGD 75
ROIC Compounder 2.25 SGD 3.52 SGD 4.62 SGD 71
Growth Earnings
Growth-Adj P/E 3.71 SGD 5.30 SGD 6.90 SGD 67

Widest divergence: DCF Models (8.50 SGD) versus Asset-Based (1.24 SGD). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/E ratio 20.4
P/S ratio 0.92 P/E × margin
EPS (TTM) 0.1900 SGD price ÷ EPS = P/E 20.4
Dividend yield 1.4% payout 28.9%
Net margin 4.5% FY2026
Return on equity 10.7% TTM
More key figures
Profitability
Return on assets (EBIT) 2.4% avg 5y
Operating margin 8.0% TTM
Growth
Revenue (TTM) 6.3B SGD TTM
Revenue growth (YoY) +8.9% 3y avg +53.4%
EPS growth (YoY) +23.5%
Balance sheet & cash flow
Free cash flow 686M SGD FY2026
Net debt 1.6B SGD FY2026 · ≈ 2.4 yrs of FCF

Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 53 · Market factors (momentum, volatility) 65

Profitability 35
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 51
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 58
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 86
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

SATS Ltd., an investment holding company, provides gateway services and food solutions in Singapore, the Asia Pacific, the Americas, Europe, the Middle East, Africa, and internationally. It operates through three segments: Food Solutions, Gateway Services, and Others.

Full company description

SATS Ltd., an investment holding company, provides gateway services and food solutions in Singapore, the Asia Pacific, the Americas, Europe, the Middle East, Africa, and internationally. It operates through three segments: Food Solutions, Gateway Services, and Others. The Food Solutions segment offers inflight and institutional catering, food processing, distribution services, and airline laundry services. The Gateway Services segment provides airport services, which include airfreight handling services, passenger services, aviation security services, baggage handling services, and apron services, as well as cruise terminal services; and manages and operates marine bay cruise center. The Others segment offers rental and other services. The company also provides air cargo handling, travel retail, security, and passenger and private jet services; linen and laundry; training; food services-solution and distribution; and commercial, institutional, and aviation catering services. It serves airline, hospitality, healthcare, food, air transport, cruise, events, education, and government agencies; and airfreight and logistics industries. The company was formerly known as Singapore Airport Terminal Services Limited and changed its name to SATS Ltd. in July 2010. The company was incorporated in 1972 and is headquartered in Singapore.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

SATS LTD. reported revenue of 6.3B SGD in FY2026 versus 1.2B SGD in FY2022, a compound +52.4%/yr. Reported net income was 285M SGD in FY2026, compounding +93.4%/yr from FY2022.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
6.3B SGD
Latest YoY
+9.0%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+53.4%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+45.6%
Avg. revenue growth/yr (12Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+11.1%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+19.4% (18.0 + 1.4)
Revenue +52.4%/yr
FY22 1.2B SGD
FY23 1.8B SGD
FY24 5.1B SGD
FY25 5.8B SGD
FY26 6.3B SGD
Net income +93.4%/yr
FY22 20.4M SGD
FY23 −26.5M SGD
FY24 56.4M SGD
FY25 244M SGD
FY26 285M SGD

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SATS LTD. · Fair Value
4.03 SGD +4%Fair Value
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Cite: Fair Value Calculator (2026). "SATS LTD. Fair Value". https://www.fairvalue-calculator.com/stock/S58

Peer Group

Airports & Air Services · 54 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 55 · Below median
Fair Value upside +4% · Below median
Return on equity (TTM) 11% · Below median
Return on assets 4% · Below median
Net margin (TTM) 4% · Below median
Operating margin (TTM) 8% · Below median
Revenue growth 9% · Above median
Dividend yield (TTM) 1.4% · Bottom 25%
Debt / equity 0.77× · Higher than 75% of peers

Valuation Multiples vs Airports & Air Services median · lower = cheaper

P/E (TTM) 20.4× · Pricier than median
P/B 1.90× · Pricier than median
P/S (TTM) 0.82× · Cheaper than 75% of peers
P/FCF 7.6× · Pricier than median
EV/EBITDA 5.8× · Cheaper than median
PEG 1.12× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE39 · sector 39
FUTURE45 · sector 32
PAST43 · sector 45
HEALTH61 · sector 88
DIVIDEND28 · sector 59

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).

Stock Price Fair Value vs Fair Value
Aena S.M.E., S.A AENA €26.42 €26.90 +2%
Airports of Thailand Public Company TATD 2.58 SGD 1.25 SGD −52%
Grupo Aeroportuario del Pacífico, S.A. PAC $214.87 $253.64 +18%
GMR Airports Limited GMRINFRA ₹102.70 ₹22.29 −78%
Shanghai International Airport Co 600009 ¥23.41 ¥17.09 −27%
Flughafen Zürich AG FHZN CHF 208.80 CHF 121.30 −42%
Auckland International Airport Limited AIA A$7.09 A$2.76 −61%
Fraport AG FRA €62.40 €49.83 −20%
Københavns Lufthavne A/S KBHL kr 5,440 kr 1,821 −67%
Flughafen Wien Aktiengesellschaft, FLU €53.00 €46.33 −13%

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Frequently asked questions

Is SATS LTD. (S58) overvalued or undervalued?
As of Aug 27, 2026, our model estimates a fair value of 4.03 SGD versus a price of 3.88 SGD, about +4% upside (fairly valued).
What is the fair value of S58?
Our model-based fair value for SATS LTD. is 4.03 SGD (as of Aug 27, 2026), built from audited fundamentals. The current price: 3.88 SGD.
What is the quality score of S58?
SATS LTD. has a Quality Score of 55/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of SATS LTD. (S58)?
SATS LTD. reported trailing-twelve-month revenue of about 6.3B SGD (latest available figure, as of Aug 27, 2026).
What is the net profit margin of S58?
The net profit margin of SATS LTD. is about 4.5%, meaning it keeps roughly 4.5% of revenue as net income. Based on the latest reported figures.
Does SATS LTD. pay a dividend?
SATS LTD. currently shows a dividend yield of about 1.42% relative to its recent price (as of Aug 27, 2026).
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