SATS Ltd (SGX: S58) heads into mid-December with investors focused on three things: an active share buyback streak, steady post-acquisition momentum at Worldwide Flight Services (WFS), and whether recent margin gains can hold up as global trade patterns keep shifting.
As of 13 December 2025 (a Saturday, when Singapore’s market is closed), SATS shares last closed at S$3.48 on Friday, 12 December, up 1.75% on the day, with 5.37 million shares traded. [1]
Below is a detailed, publication-ready breakdown of the latest SATS stock news, operational updates, earnings context, and current analyst forecasts available as of today.
SATS share price snapshot: where the stock stands now
SATS’ last close of S$3.48 (12 Dec) puts the stock near the upper end of its recent trading range after a choppy first half of December. From 8 Dec to 12 Dec, SATS moved from S$3.41 to S$3.48—about a 2.1% gain across the week, based on closing prices. [2]
On current reference data, SATS has a market capitalization around S$5.18 billion, with roughly 1.49 billion shares outstanding. [3]
What’s new for SATS stock this week: buybacks (and what they imply)
One of the clearest “hard signals” in SATS’ near-term tape is that the company has been buying its own shares in the market under its buyback mandate.
Recent daily share buybacks (SGX filings)
- 11 Dec 2025: SATS bought 300,000 shares at S$3.42 per share for total consideration of about S$1.03 million. Cumulative shares bought since the mandate began: 6,321,200 (about 0.4232% of issued shares excluding treasury shares, per filing). [4]
- 9 Dec 2025: SATS bought 101,200 shares at S$3.41 per share for total consideration of about S$345,506. [5]
- 8 Dec 2025: SATS bought 419,700 shares, with prices between S$3.40 and S$3.42, for total consideration of about S$1.43 million. [6]
Why this matters
Share buybacks don’t magically create demand, but they can:
- provide incremental support during weak sessions,
- signal management’s confidence in valuation,
- and (over time) help earnings per share if shares are retired or held as treasury stock.
It’s also simply “real money” activity—unlike a hot take, it shows up in filings.
Operational news: WFS expansion and tech upgrades keep the cargo story alive
SATS’ investment narrative increasingly runs through WFS, its global cargo and ground handling platform. Recent operational updates have leaned into two themes: network expansion and digitisation.
1) WFS uses machine learning to forecast cargo volumes (workforce efficiency angle)
WFS (part of the SATS Group) announced it is leveraging a machine-learning forecasting tool to better predict air cargo volumes and align manpower. The company says data shows the tool achieving 92–98% accuracy, aiming to reduce service-level breaches and avoid unnecessary overtime or idle time. [7]
For investors, this kind of announcement is less about buzzwords and more about a practical goal: protecting margins in a labor-heavy business where forecasting errors can become costly.
2) Denmark: JetPak partnership for first/last-mile deliveries (e-commerce logistics angle)
In late November, SATS said WFS is expanding its Denmark offering via a nationwide cooperation with JetPak for shipment pick-ups and deliveries. SATS also noted JetPak signed a six-year contract for dedicated warehouse capacity in WFS’ newer E-Commerce & Freight Forwarder Handling facility at Copenhagen Airport. [8]
This speaks to a bigger shift: air cargo handlers increasingly want to own (or tightly coordinate) more of the end-to-end logistics chain, especially for e-commerce and time-critical shipments.
3) Paris CDG: WFS wins China Cargo Airlines freighter handling contract
WFS also announced it won a freighter handling contract at Paris Charles de Gaulle supporting China Cargo Airlines’ resumption of all-cargo flights, including warehouse services, full ramp handling, and road feeder services. The contract covers three Boeing 777F flights per week, starting with a first scheduled arrival on 20 November (per WFS). [9]
Contract wins like this aren’t always massive individually, but they reinforce WFS’ positioning inside major cargo hubs.
Aviation catering still matters: SATS wins a multi-year Turkish Airlines deal in Japan
SATS also continues to build out its Food Solutions business outside Singapore.
In a November update, SATS said its subsidiary TFK Corporation (SATS TFK) secured a three-year inflight catering contract with Turkish Airlines, commencing at the start of October 2025. SATS TFK will provide daily inflight meal services for Turkish Airlines flights from Narita (NRT) and Haneda (HND) to Istanbul (IST), with meals prepared to halal standards in certified facilities. [10]
For the SATS investment case, these kinds of wins help answer a recurring question: can the catering business grow sustainably outside its legacy home base?
Earnings recap: what SATS reported in its latest quarterly results
The most recent earnings anchor remains SATS’ 2Q FY26 update (for the quarter ended 30 September 2025), released on 13 November 2025.
2Q FY26 headline numbers (YoY)
SATS reported:
- Revenue:S$1.572 billion (up 8.4%)
- EBITDA:S$307.4 million (up 15.7%), with EBITDA margin rising to 19.6%
- Operating profit (EBIT):S$157.4 million (up 23.7%)
- Profit attributable to owners (PATMI):S$78.9 million (up 13.3%) [11]
1H FY26 (YTD) numbers (YoY)
For the first half:
- Revenue:S$3.079 billion (up 9.1%)
- EBITDA:S$581.2 million (up 12.9%)
- Operating profit (EBIT):S$282.6 million (up 17.7%)
- PATMI:S$149.8 million (up 11.2%) [12]
Operating statistics: cargo and meals (signals behind the numbers)
SATS’ operating stats for 2Q FY26 included:
- Cargo processed:2,381.9 (‘000 tonnes) (up 7.1% YoY)
- Gross meals produced:29.3 million (up 1.4% YoY) [13]
Management tone: resilient quarter, but watch the trade-policy distortions
In the outlook section, SATS described performance as resilient and highlighted ongoing operational efficiency and cost discipline amid uncertainty in global trade flows. It also flagged that some volumes were influenced by accelerated shipments ahead of tariff implementations, and emphasised adapting operations as trade patterns adjust. [14]
That’s an important nuance for investors: part of the cargo strength may be timing-related rather than purely structural.
SATS dividend: the latest payout and timing
SATS declared an interim dividend of S$0.02 per share, payable on 5 December 2025, with a book closure date stated as 24 November 2025 in its earnings release. [15]
Third-party corporate action listings reflect:
- Ex-date:20 Nov 2025
- Record date:21 Nov 2025
- Payment date:5 Dec 2025
- Amount:S$0.02 [16]
Dividends matter here because SATS’ post-pandemic recovery narrative has included a return to more “normal” capital returns alongside balance-sheet management.
Analyst forecasts for SATS stock: targets, consensus, and what they imply
Forecasting is where finance gets weirdly philosophical (“the future is a place we invent and then pretend we discovered”), so it’s worth treating analyst targets as ranges, not promises.
Consensus target prices (as of mid-Dec 2025)
A few commonly cited aggregators currently show:
- ValueInvesting.io: average 12‑month target price S$4.11, with a range of S$3.88 to S$4.46, and a consensus recommendation listed as BUY (based on 12 analysts, per the site). [17]
- Versus the last close S$3.48, an average target of S$4.11 implies roughly ~18% upside (purely arithmetic, not destiny). [18]
- MarketScreener: shows mean consensus BUY, last close S$3.480, and an average target price around S$4.021 (8 analysts), implying about ~15.6% upside from the last close. [19]
- Beansprout (Growbeansprout): shows a consensus estimate of S$3.815 “as of 13 Dec 2025,” implying about ~9.6% upside from S$3.48 (as presented on that page). [20]
Brokerage targets (examples of named coverage)
SGinvestors’ compilation lists selected broker calls such as:
- UOB Kay Hian:BUY, target S$4.20 (17 Nov 2025)
- DBS Research:BUY, target S$3.80 (22 Aug 2025)
- OCBC Investment:BUY, target S$3.73 (21 Aug 2025)
- Phillip Securities:ACCUMULATE, target S$3.66 (22 Aug 2025) [21]
Growth assumptions (earnings/revenue trajectory)
Simply Wall St’s forward view (last updated 8 Dec 2025) includes forecasts such as:
- earnings growth around 8.5% per year
- revenue growth around 3.1% per year
- forecast ROE around 11.7% in 3 years [22]
These aren’t “official company guidance,” but they give a sense of what the analyst ecosystem is implicitly underwriting.
What to watch next: catalysts that could move SATS shares
Here are the practical, investor-relevant variables likely to shape SATS stock into early 2026:
1) Cargo volumes vs. policy-driven volatility
SATS itself flagged that some cargo patterns reflected front-loading ahead of tariffs, and that trade flows remain uncertain. If that front-loading unwinds, quarterly comparisons can get messy. [23]
2) Cost discipline and staffing efficiency
The WFS machine-learning forecasting push is explicitly about resource planning and reducing operational waste. If it works at scale, it supports margins in a cost-sensitive segment. [24]
3) Commercial momentum at WFS (contracts and network reach)
Contract wins like China Cargo Airlines at Paris CDG and network expansions (Denmark first/last-mile tie-ups) help reinforce SATS’ cargo platform narrative—especially if they translate into measurable profit growth. [25]
4) Capital returns: buybacks + dividend follow-through
Active buybacks plus an interim dividend signal a more shareholder-return-friendly stance. The market will also watch the pace and pricing of buybacks going forward. [26]
The risk list (because gravity exists)
No SATS stock update is complete without acknowledging what can go wrong:
- Air cargo cyclicality: freight demand is notoriously sensitive to global growth, consumer spending, and trade disruptions.
- Cost inflation and labor constraints: operational businesses live or die on productivity and staffing efficiency.
- Execution risk: contracts and partnerships matter, but the profit comes from delivering service quality consistently across a sprawling network.
- Policy shocks: tariffs, geopolitical disruptions, or sudden route changes can reshape volumes quickly—sometimes faster than cost structures can adapt. [27]
Bottom line on SATS stock as of 13 Dec 2025
SATS enters the year-end stretch with a supportive mix of buybacks, a reinstated dividend cadence, and a stream of WFS operational wins that keep the cargo thesis intact. The latest reported quarter showed rising revenue, expanding EBITDA margins, and higher net profit, but management also pointed to trade-flow uncertainty and some tariff-related shipment timing effects that investors should keep in view. [28]
Analyst target prices generally cluster above the latest close, but estimates vary by provider and methodology—use them as a map, not a prophecy. [29]
References
1. stockanalysis.com, 2. stockanalysis.com, 3. stockanalysis.com, 4. classic.shareinvestor.com, 5. classic.shareinvestor.com, 6. links.sgx.com, 7. www.sats.com.sg, 8. www.sats.com.sg, 9. www.wfs.aero, 10. www.sats.com.sg, 11. www.sats.com.sg, 12. www.sats.com.sg, 13. www.sats.com.sg, 14. www.sats.com.sg, 15. www.sats.com.sg, 16. sginvestors.io, 17. www.valueinvesting.io, 18. www.valueinvesting.io, 19. www.marketscreener.com, 20. growbeansprout.com, 21. sginvestors.io, 22. simplywall.st, 23. www.sats.com.sg, 24. www.sats.com.sg, 25. www.wfs.aero, 26. classic.shareinvestor.com, 27. www.sats.com.sg, 28. www.sats.com.sg, 29. www.valueinvesting.io
