S58 Stock Analysis: SATS | SG
Airports & Air Services | SG, Singapore | Market Cap: 6.971m SGD | 12M Return: 45% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 24.8M
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
SATS Ltd. (S58) is a Singapore-based investment holding company that operates across two core pillars: gateway (airport and cruise terminal) services and food solutions. It is organized into three reporting segments - Food Solutions, Gateway Services, and Others - and serves clients in over a dozen sectors including airlines, hospitality, healthcare, food logistics, cruise operators, government, and education. The Food Solutions arm covers inflight and institutional catering, food processing, distribution, and airline laundry, while the Gateway Services arm handles airfreight, passenger, baggage, apron, and aviation security functions, along with the management of a cruise center in Singapore. The company, incorporated in 1972 and previously known as Singapore Airport Terminal Services Limited, is classified under the Industrials sector, specifically the Airport Services sub-industry. Its revenue model is closely tied to global travel volumes, as its inflight catering and airport-handling contracts are predominantly linked to airline throughput and passenger traffic cycles. SATS is a mid-cap stock with a market capitalization of approximately USD 5 billion and derives a significant share of revenue from Singapore while maintaining a growing international footprint across the Asia Pacific, the Americas, Europe, the Middle East, and Africa.
- Singapore air travel recovery boosts handling and catering volumes
- Changi Terminal 5 expansion drives long-term gateway services capacity
- Food Solutions margins pressured by Singapore labor cost inflation
| Net Income: 285.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 3.46 > 1.0 |
| NWC/Revenue: -1.15% < 20% (prev -24.77%; Δ 23.61% < -1%) |
| CFO/TA 0.11 > 3% & CFO 1.03b > Net Income 285.2m |
| Net Debt (1.01b) to EBITDA (1.15b): 0.88 < 3 |
| Current Ratio: 0.97 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.48b) vs 12m ago -0.59% < -2% |
| Gross Margin: 17.40% > 18% (prev 16.35%; Δ 1.06% > 0.5%) |
| Asset Turnover: 70.68% > 50% (prev 65.53%; Δ 5.14% > 0%) |
| Interest Coverage Ratio: 2.26 > 6 (EBIT TTM 543.3m / Interest Expense TTM 240.4m) |
| DSRI: 0.92 (Receivables 975.4m/973.3m, Revenue 6.35b/5.82b) |
| GMI: 0.94 (GM 16.35% / 17.40%) |
| AQI: 0.99 (AQ_t 0.48 / AQ_t-1 0.49) |
| SGI: 1.09 (Revenue 6.35b / 5.82b) |
| TATA: -0.08 (NI 285.2m - CFO 1.03b) / TA 9.07b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of July 29, 2026, the stock is trading at SGD 4.77 with a total of 5,645,600 shares traded. Over the past week, the price has changed by +5.04%, over one month by +5.73%, over three months by +43.92% and over the past year by +45.02%.
Current recommended Stop Loss: 4.60 (which is 3.6% or 1.5 ATR below the current price).
SATS has no consensus analysts rating.
P/E Trailing = 24.6842
P/E Forward = 20.79
P/S = 1.0986
P/B = 2.4807
P/EG = 1.1349
Revenue TTM = 6.35b SGD
EBIT TTM = 543.3m SGD
EBITDA TTM = 1.15b SGD
Long Term Debt = 2.13b SGD (from longTermDebt, last quarter)
Short Term Debt = 246.5m SGD (from shortLongTermDebt, last quarter)
Debt = 1.76b SGD (Leases only: 1.76b)
Net Debt = 1.01b SGD (calculated: Debt 1.76b - CCE 752.5m)
Enterprise Value = 7.98b SGD (6.97b + Debt 1.76b - CCE 752.5m)
Interest Coverage Ratio = 2.26 (Ebit TTM 543.3m / Interest Expense TTM 240.4m)
EV/FCF = 11.64x (Enterprise Value 7.98b / FCF TTM 685.5m)
FCF Yield = 8.59% (FCF TTM 685.5m / Enterprise Value 7.98b)
FCF Margin = 10.80% (FCF TTM 685.5m / Revenue TTM 6.35b)
Net Margin = 4.49% (Net Income TTM 285.2m / Revenue TTM 6.35b)
Gross Margin = 17.40% ((Revenue TTM 6.35b - Cost of Revenue TTM 5.24b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.88 (Enterprise Value 7.98b / Total Assets 9.07b)
Interest Expense / Debt = 13.65% (Interest Expense 240.4m / Debt 1.76b)
Taxrate = 26.69% (111.1m / 416.2m)
NOPAT = 398.3m (EBIT 543.3m * (1 - 26.69%))
Current Ratio = 0.97 (Total Current Assets 2.07b / Total Current Liabilities 2.14b)
Debt / Equity = 0.64 (Debt 1.76b / totalStockholderEquity, last quarter 2.75b)
Debt / EBITDA = 0.88 (Net Debt 1.01b / EBITDA 1.15b)
Debt / FCF = 1.47 (Net Debt 1.01b / FCF TTM 685.5m)
Total Stockholder Equity = 2.70b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.18% (Net Income 285.2m / Total Assets 9.07b)
RoE = 10.57% (Net Income TTM 285.2m / Total Stockholder Equity 2.70b)
RoCE = 11.26% (EBIT 543.3m / Capital Employed (Equity 2.70b + L.T.Debt 2.13b))
RoIC = 6.02% (NOPAT 398.3m / Invested Capital 6.61b)
WACC = 8.22% (E(6.97b)/V(8.73b) * Re(7.77%) + D(1.76b)/V(8.73b) * Rd(13.65%) * (1-Tc(0.27)))
Discount Rate = 7.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.28 | Cagr: 13.71%
[DCF] Terminal Value 77.97% ; FCFF base≈556.9m ; Y1≈638.4m ; Y5≈939.5m
[DCF] Fair Price = 8.83 (EV 14.1b - Net Debt 1.01b = Equity 13.1b / Shares 1.49b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
Revenue Correlation: 84.55 | Revenue CAGR: 56.93% | SUE: 0.28 | # QB: 0
EPS current Year (2027-03-31): EPS=0.22 | Chg30d=+1.34% | Revisions=+50% | GrowthEPS=+12.9% | GrowthRev=+3.8%
EPS next Year (2028-03-31): EPS=0.25 | Chg30d=+3.69% | Revisions=+50% | GrowthEPS=+15.4% | GrowthRev=+5.5%
[Analyst] Revisions Ratio: +67% (up=6, down=0)