Sats ASA (SATS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Sats ASA stock NOK 54.29, price NOK 45.20, upside +20.1%, quality 66 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range kr 6.10 – kr 46.95 · fair‑value band kr 40.72 – kr 67.86 · the kr 45.20 price screens below the kr 54.29 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Sats ASA provides fitness and training services in Norway, Sweden, Denmark, and Finland. It offers sportswear, fitness gear, bars, and energy drinks. The company operates fitness clubs under the SATS, ELIXIA, Fresh Fitness, and SATSYoga brand names.
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Sats ASA was founded in 1995 and is headquartered in Oslo, Norway.
Stock analysis
Sats ASA (SATS) currently trades at kr 45.20, while our model-based Fair Value estimate is kr 54.29, implying the stock looks roughly 17% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 118.79 per share, and 14 of the 24 models we run sit above the kr 45.20 price.
Bear case: the Dividend Discount group reads lowest at kr 9.34, and 10 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 40.72 (bear) to kr 67.86 (bull), the price of kr 45.20 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Sats ASA reported revenue of 5.5B NOK in FY2025 versus 3.2B NOK in FY2021, a compound +14.1%/yr. Reported net income was 474M NOK in FY2025.
Key figures
Market cap 9.0B NOK (≈ $953M) Small · P/E ratio 16.1 · P/S ratio 1.58 · EPS (TTM) kr 2.81 · Dividend yield 2.9% · Net margin 9.8% · Return on equity 39.8% · Return on assets (EBIT) 4.3% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 63 out of 100 (low confidence).
What moves the price
The share trades about 4% below its 52-week high and 30% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at 20%, SATS screens cheaper than that median.
Fair Value models
Bearkr 40.72Fair Value kr 54.29Bullkr 67.86
Price kr 45.20 · Upside +20.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 1.29 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.84/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+8.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.3%
Start year 2020 (pandemic). Over 10 years: +6.7% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.7%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +12.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.4%
Dividend (yield on the price)2.9%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 16%
⚠ Approximate: the rate leans on 2025, which sits 77% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−11.4%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about −13.5% a year for the price and +1.4% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Leisure · 169 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside+20.1% · Above median
Profitability
Return on equity (12 months)39.8% · Top 25%
Return on assets4.9% · Above median
Net margin (12 months)9.8% · Above median
Operating margin (12 months)18.1% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)2.4% · Below median
Dividend yield (12 months)2.9% · Above median
Balance sheet
Debt / equity1.02× · Highest 25%
Valuation Multiplesvs Leisure median · lower = cheaper
P/E (12 months)16.1× · Cheaper than median
P/B6.18× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Sats ASA Fair Value". https://www.fairvalue-calculator.com/stock/SATS
Frequently asked questions
Is Sats ASA (SATS) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of kr 54.29 versus a price of kr 45.20, about +20% upside (undervalued).
What is the fair value of SATS?
Our model-based fair value for Sats ASA is kr 54.29 (as of Nov 5, 2026), built from audited fundamentals. The current price: kr 45.20.
What is the quality score of SATS?
Sats ASA has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sats ASA (SATS)?
Our model-based price target is the fair value of kr 54.29 (as of Nov 5, 2026) from 24 valuation models. Cautious scenario kr 40.72, optimistic scenario kr 67.86. It is a calculation from audited fundamentals, not an analyst target.
What is the Sats ASA stock forecast for 2026?
Our models put fair value at kr 54.29, about +20% upside versus a price of kr 45.20 (undervalued). Cautious scenario kr 40.72, optimistic scenario kr 67.86. The calculation is refreshed regularly with new filings.
What is the revenue of Sats ASA (SATS)?
Sats ASA reported trailing-twelve-month revenue of about 5.7B NOK (latest available figure, as of Nov 5, 2026).
Does Sats ASA pay a dividend?
Sats ASA currently shows a dividend yield of 2.88% relative to its recent price (as of Nov 5, 2026).
How much is the dividend of Sats ASA (SATS) and when is the ex-dividend date?
Sats ASA pays a dividend of kr 1.30 per share a year, a dividend yield of 2.9%. The last ex-dividend date was Aug 24, 2026. The payout ratio is 46.3% of earnings. Free cash flow covers the dividend 7.10 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into Sats ASA (SATS)?
For today's price to be fair in a discounted-cash-flow model, Sats ASA would have to grow free cash flow by -11.4 % per year for five years (discount rate 10.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.3 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of SATS use?
Our models discount Sats ASA at 10.6 %: a base by market capitalisation (small), damped by beta 0.84, country premium for Norway. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Sats ASA that is -11.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.6 %) and the same formula as our fair value.
How much growth has Sats ASA (SATS) delivered so far?
Over the past 5 years revenue at Sats ASA grew +9.3 % a year. The price currently implies free-cash-flow growth of -11.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Sats ASA (SATS) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Sats ASA (-11.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Sats ASA (SATS)?
The free-cash-flow yield on the price is 19.71 %: that much free cash flow Sats ASA produces per unit of market value. When it exceeds the discount rate of our models (10.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Sats ASA (SATS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sats ASA it is kr 54.29 per share (as of Nov 5, 2026), against a price of kr 45.20. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Sats ASA stock overvalued or undervalued in 2026?
As of Nov 5, 2026, SATS trades below its calculated fair value: price kr 45.20, fair value kr 54.29, a gap of about +20% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SATS?
No. The price is what the market pays today (kr 45.20); the fair value is what the company's own numbers justify (kr 54.29). For Sats ASA the two are kr 9.09 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sats ASA worth?
The market values Sats ASA at about 9.0B NOK (market capitalisation, as of Nov 5, 2026). Per share that is kr 45.20; our models calculate a fair value of kr 54.29 per share.
What do the bullish and bearish scenarios say about SATS?
Our models span a range for Sats ASA: cautious scenario kr 40.72, base kr 54.29, optimistic kr 67.86 per share (as of Nov 5, 2026, price kr 45.20). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SATS?
Sats ASA trades at a price-to-earnings ratio of 16.1 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 54.29 is built from several models across several years. Other multiples: P/B 6.2, P/S 1.6, EV/EBITDA 8.6.
How solid is the balance sheet of Sats ASA (SATS)?
Balance-sheet figures for Sats ASA (as of Nov 5, 2026): return on equity 39.8%, debt of 1.02 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is SATS from its 52-week high?
Sats ASA trades at kr 45.20, about 4% below its 52-week high of kr 46.95 and 30% above the low of kr 34.70 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 54.29 is for.
Which stocks are comparable to Sats ASA?
From the same area (Consumer Cyclical) we also value Pop Mart International Group, Amer Sports, Inc, Hasbro, Inc, Life Time Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sats ASA stock attractive at the current price?
The data as of Nov 5, 2026: price kr 45.20, calculated fair value kr 54.29 (+20%), Quality Score 66/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SATS calculated?
We run Sats ASA through 24 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 54.29 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Sats ASA currently trades 17% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sats ASA (SATS)?
The closing price on Nov 6, 2026 was kr 45.20. Our model-based fair value is kr 54.29, about +20% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sats ASA right now?
Solid quality (66/100) at a price below fair value, the discount is the argument here, not the business quality. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Sats ASA
How large is the market capitalisation of Sats ASA (SATS)?
The market capitalisation of Sats ASA is 9.0B NOK (≈ $953M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sats ASA (SATS)?
The price-to-sales ratio of Sats ASA is 1.58 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sats ASA (SATS)?
Earnings per share at Sats ASA are kr 2.81 (price ÷ EPS = P/E 16.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Sats ASA (SATS)?
The dividend yield of Sats ASA is 2.9% (payout 46.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Sats ASA (SATS)?
The net margin of Sats ASA is 9.8% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Sats ASA (SATS)?
The return on equity (ROE) of Sats ASA is 39.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sats ASA (SATS)?
On an EBIT basis the return on assets of Sats ASA is 4.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sats ASA (SATS)?
The operating margin of Sats ASA is 18.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sats ASA (SATS)?
Revenue at Sats ASA is growing +2.4% versus a year earlier (3y avg +10.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Sats ASA (SATS)?
Earnings per share at Sats ASA are growing +43.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Sats ASA (SATS) carry?
The net debt of Sats ASA is 977M NOK (fiscal year 2025, ≈ 0.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 5, 2026