SATS Ltd

SATS Ltd

3.59
SGD
-0.03
(-0.83%)
0.20EPS
18.47P/E
5.20BMarket Cap
Nov 11Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
1.51
1.49
1.45
1.47
1.46
1.55
1.64
0.82
1.01
1.47
3.46
3.91
4.27
4.24
Basic EPS, GAAP
0.15
0.17
0.19
0.22
0.22
0.21
0.14
-0.07
0.02
-0.02
0.04
0.16
0.19
0.19
Free Cash Flow per Basic Share
0.21
0.2
0.23
0.26
0.21
0.25
0.21
0.1
0.05
0.07
0.34
0.6
0.69
0.69
Dividend per Share
0.14
0.12
0.13
0.15
0.16
0.17
0.18
- -
- -
- -
- -
0.03
0.06
0.05
Book Value per Share
1.2
1.23
1.27
1.36
1.38
1.4
1.37
1.31
1.35
1.57
1.59
1.74
1.86
1.86
Tangible Book Value per Share
1.04
1.09
1.13
1.23
1.25
1.1
1.01
0.96
0.89
1.21
-0.76
-0.59
-0.48
-0.48
Basic Weighted Avg Shares
1,184
1,180
1,172
1,176
1,181
1,179
1,181
1,183
1,164
1,193
1,487
1,490
1,488
1,496
Sales/Revenue/Turnover
1,787
1,753
1,698
1,729
1,725
1,828
1,941
970
1,177
1,758
5,150
5,821
6,346
6,346
Operating Margin (%)
9.57
10.15
12.64
13.34
13.13
13.51
11.65
-0.27
-3.6
-2.73
4.74
8.17
8.56
- -
Depreciation Expense
77
68
70
73
78
85
118
130
120
176
536
561
603
- -
Net Income, GAAP
180
196
221
258
261
248
168
-79
20
-26
56
244
285
285
Effective Tax Rate (%)
15.5
15.15
17.64
15.63
17.43
16.73
17.91
- -
- -
- -
47.98
27.5
26.69
- -
Profit Margin (%)
10.1
11.16
12.99
14.92
15.16
13.59
8.67
-8.14
1.73
-1.51
1.1
4.19
4.49
4.49
Working Capital
395
447
359
461
332
321
467
757
665
2,116
-841
-1,442
-73
-73
LT Debt
97
90
1
98
96
96
493
714
695
1,424
2,737
2,242
3,583
3,583
Total Equity
1,514
1,518
1,565
1,691
1,767
1,817
1,806
1,699
1,834
2,515
2,560
2,769
2,937
2,937
Return on Invested Capital (%)
8.62
9.05
10.42
10.85
9.87
10.55
8.35
- -
- -
- -
2.37
4.99
5.57
- -
Return on Capital (%)
11.12
12.41
13.56
14.74
14.05
12.75
7.71
- -
- -
- -
3.44
5.92
6.27
- -
Return on Common Equity (%)
12.79
13.7
15.05
16.67
16.15
15.13
10.31
-4.99
1.29
-1.35
2.4
9.83
10.69
10.69

Capital Structure

SGD

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
1,265
- -
553
LT Borrowings
1,462
- -
2,129
LT Finance Leases
1,467
- -
1,454
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,491
1,486
1,477
Market Capitalization
5,053
5,663
5,199

Working Capital

SGD

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
1,977
- -
2,070
Cash, Cash Equivalents & STI
667
- -
753
Accounts Receivable, Net
1,150
- -
975
Inventories
87
- -
88
Total Current Liabilities
2,604
- -
2,143
Payables & Accruals
- -
- -
- -
ST Debt
1,265
- -
553
Deferred Revenue
- -
- -
- -

Growth Rates

SGD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.99%
12.22%
6.06%
Free Cash Flow
55.74%
122.72%
15.61%
Net Income, GAAP
-48.53%
-63.9%
16.98%
Sales/Revenue/Turnover
24.94%
57.13%
9.01%
Total Cash Common Dividend
- -
- -
83.67%

Quarterly Revenue

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,187
1,282
1,354
- -
5,150
2025
1,370
1,451
1,523
1,477
5,821
2026
1,506
1,572
1,645
1,622
6,346

Quarterly Earnings Per Share

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
-0.03
0.02
- -
0.04
2025
0.04
0.05
0.05
0.02
0.16
2026
0.05
0.05
0.06
0.03
0.19

Quarterly Dividends Per Share

SGD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
0.01
- -
0.03
2026
0.01
0.03
0.02
- -
0.06

Company Description

CEO
Tee Heong Mok
Full Time Employees
57,000
Sector
Transportation
Industry
Other transportation
Address
20 Airport Boulevard Singapore CE Singapore 819659
IPO Date
May 12, 2000
Business
SATS Ltd. SATS Ltd. (SGX: S58), an investment holding company headquartered in Singapore and incorporated in 1972, provides gateway services and food solutions primarily to the aviation, hospitality, healthcare, and logistics industries across Singapore, the Asia-Pacific region, the Americas, Europe, the Middle East, and Africa. Gateway services encompass air cargo handling, passenger services, ramp and baggage handling, aviation security, aircraft interior and exterior cleaning, cargo delivery and management, and cruise terminal operations including at Marina Bay Cruise Centre Singapore; food solutions include inflight and institutional catering, food processing and distribution, airline laundry and linen services, and commercial catering. The company operates over 215 stations in 27 countries, serving airlines, airfreight forwarders, government agencies, and food service chains with a workforce of approximately 55,000 employees. Temasek Holdings maintains a significant stake as the largest shareholder. SATS Ltd. delivers specialized cargo solutions for perishables, pharmaceuticals, high-value goods, and e-commerce; passenger handling covers check-in, boarding, and premium lounge access; security services meet aviation standards at key airports like Changi; and food operations produce millions of meals annually using advanced kitchens and distribution networks. Recent developments include the April 2023 completion of its acquisition of Worldwide Flight Services, positioning SATS Ltd. as the world's largest air cargo handler; the June 2024 acquisition of Terminal & Transporttjanst in Sweden to bolster European ground-handling capabilities; full ownership of SATS Food Solutions Thailand achieved in January 2025 via purchase of the remaining 15% stake from Bangkok Ranch for approximately SGD 3.4 million, alongside a strategic partnership with Mitsui Co., Ltd. announced in July 2024 under which Mitsui plans a 15% stake in the venture to enhance production and distribution; and the November 2024 launch of a unified global visual identity with WFS. These moves support expansion of a new 35,000-square-meter facility in Pathum Thani, Thailand, targeting 108,000 daily meals by late 2025.

Company News

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