Company Valuation: Sats ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,615 1,787 3,093 5,418 8,078 8,728 - -
Change - -50.57% 73.11% 75.16% 49.09% 8.04% - -
Enterprise Value (EV) 1 9,889 3,431 4,532 6,487 14,231 14,419 14,241 14,030
Change - -65.31% 32.1% 43.13% 119.37% 1.32% -1.24% -1.48%
P/E -7.99x -7.07x 13.8x 16.7x 17.4x 15.3x 12.8x 11.1x
PBR 7.49x 2.02x 3.02x 4.05x 5.67x 5.89x 4.94x 4.23x
PEG - 0.1x -0x 0.4x 0.4x 0.6x 0.7x 0.7x
Capitalization / Revenue 1.11x 0.44x 0.65x 1.07x 1.47x 1.52x 1.43x 1.34x
EV / Revenue 3.05x 0.84x 0.96x 1.28x 2.58x 2.52x 2.33x 2.16x
EV / EBITDA 12.1x 2.89x 2.54x 3.34x 6.75x 6.42x 5.9x 5.44x
EV / EBIT -44.1x 52x 7.47x 8.72x 16x 13.9x 12.2x 10.8x
EV / FCF 14.5x 4.15x 2.85x 3.89x 8.03x 8.3x 7.35x 6.68x
FCF Yield 6.88% 24.1% 35.1% 25.7% 12.5% 12.1% 13.6% 15%
Dividend per Share 2 - - - - 1.3 1.883 2.24 2.931
Rate of return - - - - 3.2% 4.17% 4.96% 6.49%
EPS 2 -2.64 -1.25 1.1 1.59 2.34 2.947 3.522 4.076
Distribution rate - - - - 55.6% 63.9% 63.6% 71.9%
Net sales 1 3,247 4,082 4,734 5,064 5,509 5,728 6,110 6,499
EBITDA 1 818 1,186 1,784 1,942 2,109 2,246 2,415 2,580
EBIT 1 -224 66 607 744 892 1,036 1,163 1,294
Net income 1 -452 -246 224 326 474 580.3 694.8 803.6
Net Debt 1 6,274 1,644 1,439 1,069 6,153 5,691 5,513 5,303
Reference price 2 21.10 8.84 15.16 26.50 40.60 45.15 45.15 45.15
Nbr of stocks (in thousands) 171,335 202,136 204,044 204,460 198,968 193,307 - -
Announcement Date 11/2/22 14/2/23 13/2/24 12/2/25 10/2/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.32x2.52x6.42x4.17% 931M
27.25x3.26x11.54x-.--% 9.72B
17.85x4.34x10.52x-.--% 4.01B
28.07x2.54x19.22x0.79% 2.56B
26.99x3.11x6.77x-.--% 2.54B
12.06x2.5x5.64x5% 1.99B
14.78x3.57x8.43x4.21% 1.12B
16.33x1.93x8.12x3.23% 535M
46.74x2.92x7.34x-.--% 470M
16.27x - - - 434M
Average 22.16x 2.97x 9.33x 1.93% 2.43B
Weighted average by Cap. 23.42x 3.23x 10.69x 0.93%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield