SES S.A (SESG) Fair Value & Analysis
Communication Services · FR · Market cap €3.1B
Fair value as of: Jul 17, 2026
From 7 valuation models · updated 24 days ago
Fair value updated Jul 17, 2026, revised from €15.57 to €15.46 (−0.7%) since Jun 25, 2026. Share price −30.6% over the past month.
Below-average quality, screening 183% undervalued on our models.
What matters now
- The model range is unusually wide (€5.32 to €18.88). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid quality (45/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.
How to read this chart
60‑month range €2.54 – €9.89 · fair‑value band €5.32 – €18.88 · the €5.47 price screens below the €15.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.
Analysis
SES S.A (SESG) currently trades at €5.47, while our model-based Fair Value estimate is €15.46, implying the stock looks roughly 182.9% undervalued today. The Quality Score stands at 45/100 (below-average quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, SES S.A generated revenue of €3.0B at a net margin of -4.7%. Revenue grew 66.4% year over year. It earns a return on equity of -3.0%. Net debt stands at €5.9B. Fundamentals as of Jul 17, 2026
Our scenario range runs from €5.32 (bear case) to €18.88 (bull case); at €5.47, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 45% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -2% fair-value upside, at 183%, SESG screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 7 models by family
Widest divergence: Multiples (€23.05) versus Asset-Based (€5.09). Highest evidence: Gordon GGM (70).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 42 · Market factors (momentum, volatility) 32
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
SES S.A. provides satellite-based data transmission capacity and ancillary services worldwide. The company offers content connectivity solutions, including network spanning satellite and ground infrastructure to create, deliver, and manage video and data solutions.
Full company description
SES S.A. provides satellite-based data transmission capacity and ancillary services worldwide. The company offers content connectivity solutions, including network spanning satellite and ground infrastructure to create, deliver, and manage video and data solutions. It also provides data connectivity services through its fleet of geostationary earth orbit and medium earth orbit satellites, and ground infrastructures to the aviation, media and broadcast, cloud, cruise, energy, government, maritime, and telco and mobile network operator industries. In addition, the company provides linear video aggregation and distribution to direct-to-home, direct-to-cable, and internet protocol TV homes; channel management solutions comprising playout; and capacity, live feeds and redundancy features for sports and events organizations. It serves broadcasters, platform operators, and content owners. The company was formerly known as SES Global SA and changed its name to SES S.A. in December 2006. SES S.A. was founded in 1985 and is headquartered in Betzdorf, Luxembourg.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
SES S.A reported revenue of €2.6B in FY2025 versus €1.8B in FY2021, a compound +10.7%/yr. Reported net income was −€95.0M in FY2025.
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Peer Group
Broadcasting · 69 stocks
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.
Valuation Multiples vs Broadcasting median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Broadcasting stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nexstar Media Group NXST | $183.71 | $78.52 | -57% |
| PT Elang Mahkota Teknologi Tbk, through its subsidiaries, EMTK | 505.00 IDR | 1,094 IDR | +117% |
| MFE-Mediaforeurope N.V MFEB | €3.64 | €5.38 | +48% |
| Jiangsu Broadcasting Cable Information Network Corporation 600959 | ¥3.07 | ¥1.14 | -63% |
| Sun TV Network Limited SUNTV | ₹489.20 | ₹586.58 | +20% |
| MBC Group 4072 | 20.06 SAR | 19.56 SAR | -2% |
| Beijing Gehua Catv Network Co 600037 | ¥7.13 | ¥3.64 | -49% |
| PT Surya Citra Media Tbk, SCMA | 206.00 IDR | 229.91 IDR | +12% |
| Zee Entertainment Enterprises Limited ZEEL | ₹92.61 | ₹53.22 | -43% |
| Sinclair, Inc SBGI | $15.42 | $4.29 | -72% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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