Stock SESGL SES S.A.
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Financials SES S.A.

Equities

SESGL

LU0088087324

Wireless Telecommunications Services

End-of-day quote LUXEMBOURG S.E.
Other stock markets
 06:00:00 2024-04-24 pm EDT 		5-day change 1st Jan Change
5.45 EUR -1.45% Intraday chart for SES S.A. -1.89% -8.56%
Apr. 24 SES to Roll Out High-Performance Connectivity Via Software-Enabled Satellite MT
Apr. 24 SES: O3b mPower system now operational CF

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,682 3,514 3,173 2,682 2,618 2,410 - -
Enterprise Value (EV) 1 8,996 6,319 5,705 5,983 3,870 3,618 3,316 2,849
P/E ratio 23.1 x -25.7 x 7.58 x -38.1 x -2.79 x 13.1 x 13.4 x 17.8 x
Yield 3.2% 5.18% 7.17% 8.21% 8.39% 11.5% 9.95% 11.3%
Capitalization / Revenue 2.86 x 1.87 x 1.78 x 1.38 x 1.29 x 1.23 x 1.21 x 1.16 x
EV / Revenue 4.53 x 3.37 x 3.2 x 3.08 x 1.91 x 1.84 x 1.67 x 1.38 x
EV / EBITDA 7.39 x 5.86 x 3.06 x 4.82 x 3.78 x 3.68 x 3.32 x 2.72 x
EV / FCF 10.9 x 7.53 x 5.63 x 49 x 1.26 x 6.11 x 5.64 x 4.33 x
FCF Yield 9.21% 13.3% 17.8% 2.04% 79.4% 16.4% 17.7% 23.1%
Price to Book 1.16 x 0.83 x 0.71 x 0.61 x 0.9 x 0.41 x 0.41 x -
Nbr of stocks (in thousands) 454,560 455,441 455,047 440,401 439,184 436,134 - -
Reference price 2 12.50 7.716 6.972 6.090 5.960 5.525 5.525 5.525
Announcement Date 3/2/20 2/25/21 2/24/22 2/27/23 2/29/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,984 1,876 1,782 1,944 2,030 1,966 1,987 2,069
EBITDA 1 1,217 1,079 1,862 1,242 1,025 984.1 999.2 1,046
EBIT 1 365.4 82 468 140 -686 312.5 279.9 261.9
Operating Margin 18.42% 4.37% 26.26% 7.2% -33.79% 15.9% 14.08% 12.66%
Earnings before Tax (EBT) 1 199.5 -102 397 52 -728 229.6 211.4 235.4
Net income 1 296.2 -86 453 -34 -905 172.9 174.6 193.9
Net margin 14.93% -4.58% 25.42% -1.75% -44.58% 8.79% 8.78% 9.37%
EPS 2 0.5400 -0.3000 0.9200 -0.1600 -2.140 0.4208 0.4124 0.3100
Free Cash Flow 1 828.8 839 1,014 122 3,074 591.9 588.3 657.7
FCF margin 41.78% 44.72% 56.9% 6.28% 151.43% 30.11% 29.6% 31.8%
FCF Conversion (EBITDA) 68.12% 77.76% 54.46% 9.82% 299.9% 60.14% 58.87% 62.86%
FCF Conversion (Net income) 279.81% - 223.84% - - 342.39% 337% 339.17%
Dividend per Share 2 0.4000 0.4000 0.5000 0.5000 0.5000 0.6375 0.5500 0.6250
Announcement Date 3/2/20 2/25/21 2/24/22 2/27/23 2/29/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 S1 2024 S2
Net sales 1 1,022 947.5 928 875 444 463 907 448 451 899 501 544 1,045 490 497 987 507 536 1,043 952.7 1,017
EBITDA 1 - - - - 272 1,064 - 266 263 - 271 442 - 265 247 - 262 233 - - -
EBIT 1 - - - - 105 168 - 107 78 - 97 -142 - 87 72 - 88 -2,089 - - -
Operating Margin - - - - 23.65% 36.29% - 23.88% 17.29% - 19.36% -26.1% - 17.76% 14.49% - 17.36% -389.74% - - -
Earnings before Tax (EBT) - - - - - 164 - - - - - - - - - - - - - - -
Net income 1 - - - - 68 248 - 82 19 - 97 -232 - 55 37 - 770 -1,767 - - -
Net margin - - - - 15.32% 53.56% - 18.3% 4.21% - 19.36% -42.65% - 11.22% 7.44% - 151.87% -329.66% - - -
EPS 0.2200 0.1400 -0.4400 0.2500 0.1400 0.5300 0.6700 - - 0.1900 - - -0.3500 - - - - - -2.310 0.1400 0.1400
Dividend per Share - - - - - - - - - - - - - - - - - - - - -
Announcement Date 3/2/20 8/7/20 2/25/21 8/4/21 11/4/21 2/24/22 2/24/22 5/5/22 8/4/22 8/4/22 11/3/22 2/27/23 2/27/23 5/4/23 8/3/23 8/3/23 10/31/23 2/29/24 2/29/24 - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 3,314 2,805 2,532 3,301 1,252 1,208 906 439
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.724 x 2.6 x 1.36 x 2.658 x 1.221 x 1.228 x 0.9067 x 0.42 x
Free Cash Flow 1 829 839 1,014 122 3,074 592 588 658
ROE (net income / shareholders' equity) 4.81% 3.88% 8.21% 3.36% 4.63% 5.17% 4.28% 6.98%
ROA (Net income/ Total Assets) 2.27% 1.62% 3.56% 1.48% -7.94% 1.98% 2.38% -
Assets 1 13,048 -5,297 12,734 -2,298 11,396 8,718 7,328 -
Book Value Per Share 2 10.80 9.330 9.860 10.00 6.640 13.40 13.60 -
Cash Flow per Share - - - - - - - -
Capex 1 305 210 280 1,354 405 487 394 315
Capex / Sales 15.39% 11.19% 15.71% 69.65% 19.95% 24.78% 19.83% 15.23%
Announcement Date 3/2/20 2/25/21 2/24/22 2/27/23 2/29/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for SES S.A.

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
4
Last Close Price
5.525 EUR
Average target price
7.375 EUR
Spread / Average Target
+33.48%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Satellite Service Operators

1st Jan change Capi.
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AL YAH SATELLITE COMMUNICATION COMPANY Stock Al Yah Satellite Communication Company
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Satellite Service Operators
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