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 8,795 - -
Change - -50.57% 73.11% 75.16% 49.09% 8.88% - -
Enterprise Value (EV) 1 9,889 3,431 4,532 6,487 14,231 14,487 14,308 14,098
Change - -65.31% 32.1% 43.13% 119.37% 1.8% -1.23% -1.47%
P/E -7.99x -7.07x 13.8x 16.7x 17.4x 15.4x 12.7x 10.8x
PBR 7.49x 2.02x 3.02x 4.05x 5.67x 5.91x 4.99x 4.15x
PEG - 0.1x -0x 0.4x 0.4x 0.6x 0.6x 0.6x
Capitalization / Revenue 1.11x 0.44x 0.65x 1.07x 1.47x 1.54x 1.45x 1.36x
EV / Revenue 3.05x 0.84x 0.96x 1.28x 2.58x 2.53x 2.35x 2.18x
EV / EBITDA 12.1x 2.89x 2.54x 3.34x 6.75x 6.44x 5.92x 5.42x
EV / EBIT -44.1x 52x 7.47x 8.72x 16x 14x 12.2x 10.6x
EV / FCF 14.5x 4.15x 2.85x 3.89x 8.03x 8.34x 7.39x 6.71x
FCF Yield 6.88% 24.1% 35.1% 25.7% 12.5% 12% 13.5% 14.9%
Dividend per Share 2 - - - - 1.3 1.875 2.398 2.885
Rate of return - - - - 3.2% 4.12% 5.27% 6.34%
EPS 2 -2.64 -1.25 1.1 1.59 2.34 2.947 3.571 4.219
Distribution rate - - - - 55.6% 63.6% 67.1% 68.4%
Net sales 1 3,247 4,082 4,734 5,064 5,509 5,728 6,086 6,482
EBITDA 1 818 1,186 1,784 1,942 2,109 2,248 2,419 2,601
EBIT 1 -224 66 607 744 892 1,036 1,173 1,324
Net income 1 -452 -246 224 326 474 580.3 701.2 828.4
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 45.50 45.50 45.50
Nbr of stocks (in thousands) 171,335 202,136 204,044 204,460 198,968 193,307 - -
Announcement Date 11/02/22 14/02/23 13/02/24 12/02/25 10/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.44x2.53x6.44x4.12% 947M
26.99x3.23x11.44x-.--% 9.63B
17.23x4.24x10.28x-.--% 3.87B
26.75x3.09x6.73x-.--% 2.52B
24.74x2.25x17x0.9% 2.26B
12.72x2.56x5.78x4.74% 2.14B
14.39x3.51x8.27x4.32% 1.09B
16.24x1.92x8.07x3.25% 547M
46.51x2.92x7.33x-.--% 467M
Average 22.33x 2.92x 9.04x 1.92% 2.61B
Weighted average by Cap. 22.92x 3.18x 10.25x 0.96%

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