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SATS Ltd (S58) Fair Value & Analysis

Industrials · SG · Market cap 6.6B SGD

SL SATS Ltd S58 · SG
Price4.69 SGD
Fair Value4.03 SGD
Upside-14.1%
Quality55/100
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Healthy Growth
Thin margins · 4.5% net margin
Moderate debt · generates free cash flow
1.56% dividend yield
Trails peers (4/15)
Moderate moat 46/100
Evidence: High Range 3.02 SGD – 5.09 SGD Share as image

Fair value as of: Aug 13, 2026

From 24 valuation models · updated yesterday

Share price +2.4% over the past month.

A solid business, but screening 14% overvalued on our models.

What matters now

  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
  • Our model range runs from 3.02 SGD (bear) to 5.09 SGD (bull), base 4.03 SGD. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 55/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

4.83 SGD 2.31 SGD Fair Value 4.03 SGD May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 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 4.69 SGD price screens above the 4.03 SGD fair value. Dashed = 300-day average. As of Aug 13, 2026.

Full chart & analysis →

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Analysis

SATS Ltd (S58) currently trades at 4.69 SGD, while our model-based Fair Value estimate is 4.03 SGD, implying the stock looks roughly 14.1% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: 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 13, 2026

Our scenario range runs from 3.02 SGD (bear case) to 5.09 SGD (bull case); at 4.69 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 near its 52-week high and 57% 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 -14%, S58 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF 5.63 SGD 11.46 SGD 22.21 SGD 80
Residual Income 1.62 SGD 1.80 SGD 2.86 SGD 76
Rev-Margin DCF 3.55 SGD 7.39 SGD 13.11 SGD 74
All 24 models by family
DCF Models
FCF DCF 5.97 SGD 10.37 SGD 22.71 SGD 38
Owner Earnings 4.50 SGD 11.11 SGD 24.46 SGD 31
5Y Revenue Exit 3.55 SGD 6.86 SGD 13.23 SGD 39
5Y EBITDA Exit 6.29 SGD 12.77 SGD 24.62 SGD 41
5Y P/E Exit 3.18 SGD 6.67 SGD 11.03 SGD 38
10Y Revenue Exit 4.14 SGD 8.50 SGD 13.33 SGD 36
10Y EBITDA Exit 6.15 SGD 13.58 SGD 27.14 SGD 37
10Y P/E Exit 4.01 SGD 7.81 SGD 13.99 SGD 35
Earnings-Based
Graham-Dodd 1.30 SGD 9.10 SGD 12.77 SGD 54
Lynch FV 2.73 SGD 3.89 SGD 5.06 SGD 50
PEG = 1.0 2.73 SGD 3.89 SGD 5.06 SGD 46
EPV 2.06 SGD 2.54 SGD 2.94 SGD 59
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 53
EV/EBITDA 6.59 SGD 9.10 SGD 11.61 SGD 54
EV/Revenue 2.40 SGD 3.83 SGD 5.25 SGD 43
Asset-Based
NCAV (Graham) 0.9300 SGD 1.24 SGD 1.85 SGD 50
Growth DCF
Growth DCF 5.63 SGD 11.46 SGD 22.21 SGD 80
Rev-Margin DCF 3.55 SGD 7.39 SGD 13.11 SGD 74
Economic Profit
Residual Income 1.62 SGD 1.80 SGD 2.86 SGD 76
ROIC Compounder 2.25 SGD 3.52 SGD 4.62 SGD 72
Growth Earnings
Growth-Adj P/E 3.71 SGD 5.30 SGD 6.90 SGD 68

Widest divergence: DCF Models (8.50 SGD) versus Asset-Based (1.24 SGD). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 6.3B SGD
Revenue growth (YoY) +8.9%
Net margin 4.5%
Return on equity 10.7%
Free cash flow 686M SGD FY2026
P/E ratio 24.7
More key figures
Operating margin 8.0%
EPS (TTM) 0.1900 SGD
Dividend yield 1.6%
EPS growth (YoY) +23.5%
Net debt 1.6B SGD FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 53 · Market factors (momentum, volatility) 88

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 90
Calm price path (market factor)
Momentum 83
Price trend over the last 3–12 months (market factor)
52W Momentum 94
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.

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. 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. 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. 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%
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

S58 screens 14% overvalued. Compare with Aena S.M.E., S.A →

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SATS Ltd · Fair Value
4.03 SGD −14%Fair Value
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Cite: Fair Value Calculator (2026). "SATS Ltd Fair Value". https://www.fairvalue-calculator.com/stock/S58

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

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 −14% · 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) 1.6% · Below median
Debt / equity 0.77× · Higher than 75% of peers

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

P/E (TTM) 24.7× · Pricier than median
P/B 1.88× · Pricier than median
P/S (TTM) 0.82× · Cheaper than median
P/FCF 7.5× · Pricier than median
EV/EBITDA 5.7× · Cheaper than median
PEG 1.12× · Cheaper than median

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.

VALUE 15 · sector 37
FUTURE 45 · sector 31
PAST 43 · sector 45
HEALTH 61 · sector 89
DIVIDEND 31 · sector 52

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Aena S.M.E., S.A AENA €26.84 €26.90 +0%
Airports of Thailand Public Company TATD 2.43 SGD 1.25 SGD -49%
Grupo Aeroportuario del Pacífico, S.A. PAC $214.96 $250.60 +17%
GMR Airports Limited GMRINFRA ₹102.70 ₹22.29 -78%
Flughafen Zürich AG FHZN CHF 231.40 CHF 121.30 -48%
Shanghai International Airport Co 600009 ¥23.41 ¥17.09 -27%
Auckland International Airport Limited AIA A$7.20 A$2.77 -62%
Fraport AG FRA €66.85 €49.83 -25%
Københavns Lufthavne A/S KBHL kr 5,500 kr 1,821 -67%
Flughafen Wien Aktiengesellschaft, FLU €51.60 €46.33 -10%

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Frequently asked questions

Is SATS Ltd (S58) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 4.03 SGD versus a price of 4.69 SGD, about −14% (overvalued).
What is the fair value of S58?
Our model-based fair value for SATS Ltd is 4.03 SGD (as of Aug 13, 2026), built from audited fundamentals. The current price is 4.69 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 13, 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 1.56% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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