SATS (S58) AI Stock Analysis

• Market Cap: $4.86B
• Dividend Yield: 1.53%
• Average Volume (3M): 5.00M
• Price to Earnings (P/E): 20.0
• Beta (1Y): 1.12
• Revenue Growth: 12.54%
• EPS Growth: 332.80%
• Country: SG
• Employees: 52,000
• Sector: Industrials
• Sector Strength: 76
• Industry: Airlines, Airports & Air Services
• EPS (TTM): N/A
• Shares Outstanding: 1,495,069,000
• 10 Day Avg. Volume: 5,031,090
• 30 Day Avg. Volume: 5,002,356
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.72
• Enterprise Value/Revenue: 1.44
• Enterprise Value/Gross Profit: 1.44
• Enterprise Value/Ebitda: 9.39
• 1Y Price Target: $3.82
• Price Target Upside: 16.85% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 65 Neutral
• Price Target: S$3.50 ▲(7.03% Upside)

SATS's overall stock score is driven primarily by its strong financial performance, characterized by robust cash flow management and improved profitability. Technical analysis supports a positive trend, although valuation metrics suggest the stock is fairly valued. The absence of earnings call data and corporate events means these factors did not influence the score.

Positive Factors

Contracts

SATS won a contract from Starbucks in China, which will help improve utilisation of its Tianjin central kitchen and support profitability for its food solutions business.

Financial Performance

Free cash flow turned positive at S$228.3mn, reversing from a deficit, as PATMI margin improved nearly fourfold YoY to 4.2%.

Market Share

SATS's cargo tonnage handled has outpaced global cargo demand, reflecting market share gains.

Negative Factors

Macroeconomic Instability

Global macroeconomic instability and trade disruptions could negatively impact air cargo volumes and air passenger traffic growth.

Margin Compression

A decline in SATS's EBIT margin is attributed to higher leases from expanded cargo operations.

Trade Disruptions

Trade disruptions are expected to weigh on FY26F earnings, impacting SATS' air cargo division due to trade tensions and policy changes in the US.

SATS Business Overview & Revenue Model

Company Description

SATS Ltd., an investment holding company, provides gateway services and food solutions in Singapore, Japan, and internationally. The company 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 Other Services segment provides rental and other services. In addition, the company offers air cargo, travel retail, security, passenger and private jet services; linen and laundry; food services-solution and distribution; commercial, institutional and aviation catering. The company serves airline, hospitality, healthcare, food, education, and government agencies; and airfreight and logistics industries. SATS Ltd. 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.

How the Company Makes Money

SATS generates revenue through multiple streams, predominantly from its gateway services and food solutions. The gateway services segment includes airport ground handling, cargo handling, and passenger services, which contribute significantly to its revenue by charging airlines and airport operators for these essential operations. The food solutions segment focuses on inflight catering and institutional catering services, supplying meals and related services to airlines, hotels, and other institutions. Additionally, SATS benefits from strategic partnerships and joint ventures across Asia, expanding its market reach and enhancing its service offerings. These partnerships allow SATS to tap into new markets and customer bases, further driving its revenue growth.

SATS Financial Statement Overview

Summary

SATS demonstrates a commendable financial recovery and stability. The income statement reflects strong revenue growth and improved profitability, though operational efficiency can be enhanced. The balance sheet shows a balanced approach to leveraging, with a healthy return on equity. Cash flow metrics are robust, indicating efficient cash management and strong cash generation, positioning the company well for future growth opportunities despite some reliance on debt.

Income Statement

SATS has demonstrated a strong recovery in its revenue with a growth rate of 13.04% from 2024 to 2025, indicating a positive trajectory post-pandemic. Gross Profit Margin remained stable at around 16.34% in 2025. The Net Profit Margin has improved significantly to 4.19% in 2025 from 1.09% in 2024, showing better profitability. However, the EBIT and EBITDA margins, at 8.17% and 20.03% respectively, suggest room for improvement in operational efficiency.

Balance Sheet

The company's balance sheet indicates reasonable stability with a Debt-to-Equity ratio of 1.64, reflecting moderate leverage. The Return on Equity (ROE) improved to 9.42% in 2025, showcasing effective utilization of shareholders' equity. The Equity Ratio at 29.11% suggests that SATS is maintaining a solid equity base relative to its total assets, although there is still substantial reliance on debt financing.

Cash Flow

SATS has shown robust cash flow management with a Free Cash Flow growth rate of 104.98% from 2024 to 2025, indicating strong cash generation capabilities. The Operating Cash Flow to Net Income ratio of 3.66 in 2025 highlights efficient cash conversion from profits. The Free Cash Flow to Net Income ratio at 2.75 further confirms strong cash flow relative to net income, providing flexibility for future investments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.82B	5.82B	5.15B	1.76B	1.18B	970.00M
Gross Profit	5.82B	951.50M	1.73B	354.37M	195.40M	187.50M
EBITDA	891.70M	1.17B	800.80M	105.22M	92.48M	41.69M
Net Income	243.80M	243.80M	56.40M	-26.51M	20.37M	-78.93M
Balance Sheet
Total Assets	8.88B	8.88B	8.48B	4.67B	3.29B	3.09B
Cash, Cash Equivalents and Short-Term Investments	694.00M	694.00M	659.00M	374.46M	786.04M	879.85M
Total Debt	4.24B	4.24B	4.10B	1.48B	837.84M	873.43M
Total Liabilities	6.11B	6.11B	5.92B	2.16B	1.46B	1.39B
Stockholders Equity	2.59B	2.59B	2.38B	2.33B	1.60B	1.55B
Cash Flow
Free Cash Flow	648.30M	669.40M	326.50M	-39.85M	-15.67M	56.22M
Operating Cash Flow	858.00M	891.10M	512.10M	79.55M	62.32M	117.75M
Investing Cash Flow	-100.80M	-100.80M	68.00M	-1.83B	31.11M	-28.38M
Financing Cash Flow	-765.20M	-765.20M	-292.00M	1.34B	-189.30M	239.52M

SATS Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:S58, the sentiment is Positive. The current price of 3.27 is above the 20-day moving average (MA) of 3.24, above the 50-day MA of 3.17, and above the 200-day MA of 3.22, indicating a bullish trend. The MACD of 0.02 indicates Positive momentum. The RSI at 55.15 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:S58.

SATS Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
S58	65 Neutral	$4.86B	20.05	9.89%	1.53%	12.54%	332.80%
Sector *	64 Neutral	$10.95B	16.37	8.81%	1.96%	2.68%	-15.33%
CDGLF	―	$2.44B	12.71	8.37%	6.47%	―	―
SEGSF	―	$2.72B	27.39	8.24%	2.12%	―	―
SINGF	―	$15.96B	8.49	17.47%	5.99%	―	―
SMBMF	―	$6.18B	29.66	4.07%	0.67%	―	―
YSHLF	―	$9.12B	8.25	30.76%	3.72%	―	―

SATS Corporate Events

SATS Ltd. Issues S$300 Million Fixed Rate Notes Under Debt Programme

SATS Ltd. has issued S$300 million in fixed rate notes due in 2032 as part of its US$3 billion multicurrency debt issuance program. This move, facilitated by DBS Bank Ltd. and Oversea-Chinese Banking Corporation Limited, aims to strengthen SATS’ financial position and enhance its market competitiveness, with the notes expected to be listed on the Singapore Exchange.

The most recent analyst rating on (SG:S58) stock is a Buy with a S$4.26 price target. To see the full list of analyst forecasts on SATS stock, see the SG:S58 Stock Forecast page.

SATS Ltd. Prices S$300 Million Fixed Rate Notes Due 2032

SATS Ltd. has announced the pricing of S$300,000,000 in 2.45% fixed rate notes due in 2032, under its US$3,000,000,000 multicurrency debt issuance program. The issuance, managed by DBS Bank Ltd. and Oversea-Chinese Banking Corporation Limited, aims to refinance existing borrowings and is expected to be listed on the Singapore Exchange. The notes have been rated ‘A3’ by Moody’s, indicating a stable credit outlook, and will be offered under specific exemptions in Singapore, potentially impacting the company’s financial strategy and market positioning.

The most recent analyst rating on (SG:S58) stock is a Buy with a S$4.37 price target. To see the full list of analyst forecasts on SATS stock, see the SG:S58 Stock Forecast page.

SATS Ltd. Issues US$100 Million Fixed Rate Notes to Bolster Financial Strategy

SATS Ltd. announced that its wholly-owned subsidiary, World Flight Services, Inc., has issued US$100 million in fixed rate notes due 2030 under its multicurrency debt issuance programme. This strategic financial move, coordinated by MUFG Securities EMEA plc, is part of SATS’ broader efforts to strengthen its financial position and support its operational capabilities, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (SG:S58) stock is a Buy with a S$4.26 price target. To see the full list of analyst forecasts on SATS stock, see the SG:S58 Stock Forecast page.

SATS Ltd. Launches US$100 Million Fixed-Rate Notes for Debt Refinancing

SATS Ltd. has announced that its wholly-owned subsidiary, World Flight Services, Inc., has launched and priced US$100,000,000 worth of fixed-rate notes due in 2030, as part of its US$3,000,000,000 multicurrency debt issuance programme. The issuance, which is guaranteed by SATS Ltd., aims to refinance existing borrowings without increasing the Group’s overall debt, thereby maintaining its financial stability and potentially enhancing its market position.

The most recent analyst rating on (SG:S58) stock is a Buy with a S$4.26 price target. To see the full list of analyst forecasts on SATS stock, see the SG:S58 Stock Forecast page.

SATS Ltd. Announces Board and Committee Changes

SATS Ltd. is undergoing changes in its Board and Board Committees, with the retirement of Mr. Chia Kim Huat and the stepping down of Mr. Achal Agarwal as part of a renewal process. These changes are in line with the Singapore Exchange’s guidelines for maintaining board effectiveness and independence. The company expresses gratitude for the contributions of Mr. Chia and Mr. Agarwal, acknowledging their roles in the company’s success.

The most recent analyst rating on (SG:S58) stock is a Buy with a S$4.26 price target. To see the full list of analyst forecasts on SATS stock, see the SG:S58 Stock Forecast page.

SATS Invests S$250 Million to Enhance Changi Airport Operations

SATS Ltd. announced a significant investment of over S$250 million to upgrade and transform its capabilities at Changi Airport. This investment aims to enhance ground operations and cargo handling infrastructure, with S$150 million allocated for renewing and expanding the ground support equipment fleet over five years and S$100 million for enhancing cargo operations over two years. These initiatives are expected to improve operational reliability, safety, and efficiency, supporting increased cargo volumes and the future expansion of Changi Airport. The investment underscores SATS’ commitment to the Changi ecosystem and highlights the strategic importance of the Singapore Air Hub to its global business operations.

The most recent analyst rating on (SG:S58) stock is a Buy with a S$3.60 price target. To see the full list of analyst forecasts on SATS stock, see the SG:S58 Stock Forecast page.