SATS (SPASF) Cyclically Adjusted PB Ratio: 2.28 (As of Jul. 05, 2026) — 12% Below Median


SPASF SATS Ltd SPASF
79 GF Score
Price $3.27
GF Value $2.99
Valuation Fairly Valued
! 9 Warning Signs
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What is SATS Cyclically Adjusted PB Ratio?

SATS SPASF 79 Cyclically Adjusted PB Ratio is 2.28 as of Jul. 05, 2026, which is 12% below its 10-year median of 2.60. GuruFocus rates SPASF with a GF Score™ of 79/100 and a GF Value™ of $2.99 (Fairly Valued). The stock has 9 warning signs investors should review. Among 741 Transportation companies, SATS ranks worse than 77.06% on this metric.

As of today (2026-07-05), SATS's current share price is $3.265. SATS's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $1.43. SATS's Cyclically Adjusted PB Ratio for today is 2.28.

The historical rank and industry rank for SATS's Cyclically Adjusted PB Ratio or its related term are showing as below:

SPASF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.49   Med: 2.6   Max: 4.13
Current: 2.57

During the past years, SATS's highest Cyclically Adjusted PB Ratio was 4.13. The lowest was 1.49. And the median was 2.60.

SPASF's Cyclically Adjusted PB Ratio is ranked worse than
77.06% of 741 companies
in the Transportation industry
Industry Median: 1.25 vs SPASF: 2.57

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

SATS's adjusted book value per share data for the three months ended in Mar. 2026 was $1.455. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $1.43 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


SATS  (OTCPK:SPASF) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


SATS Cyclically Adjusted PB Ratio Related Terms


SATS Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for SATS's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

SATS Cyclically Adjusted PB Ratio Chart

SATS Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.72 1.78 1.61 1.85 2.04

SATS Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.85 0.00 2.00 2.25 2.04

SPASF vs JOBY, CAAP: Cyclically Adjusted PB Ratio Comparison

For the Airports & Air Services subindustry, SATS's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


SATS Cyclically Adjusted PB Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, SATS's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where SATS's Cyclically Adjusted PB Ratio falls into.


SPASF
79GF Score
SATS Ltd SPASF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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SATS Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

SATS's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=3.265/1.43
=2.28

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

SATS's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, SATS's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=1.455/330.2130*330.2130
=1.455

Current CPI (Mar. 2026) = 330.2130.

SATS Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.979 241.018 1.341
201609 0.952 241.428 1.302
201612 0.913 241.432 1.249
201703 0.968 243.801 1.311
201706 1.015 244.955 1.368
201709 0.999 246.819 1.337
201712 1.000 246.524 1.339
201803 1.053 249.554 1.393
201806 1.067 251.989 1.398
201809 0.992 252.439 1.298
201812 0.993 251.233 1.305
201903 1.033 254.202 1.342
201906 1.064 256.143 1.372
201909 1.003 256.759 1.290
201912 1.009 256.974 1.297
202003 0.965 258.115 1.235
202006 0.960 257.797 1.230
202009 0.954 260.280 1.210
202012 0.974 260.474 1.235
202103 0.973 264.877 1.213
202106 0.986 271.696 1.198
202109 0.986 274.310 1.187
202112 0.977 278.802 1.157
202203 0.994 287.504 1.142
202206 0.962 296.311 1.072
202209 0.936 296.808 1.041
202212 0.953 296.797 1.060
202303 1.170 301.836 1.280
202306 1.152 305.109 1.247
202309 1.145 307.789 1.228
202312 1.179 306.746 1.269
202403 1.188 312.332 1.256
202406 1.213 314.175 1.275
202409 1.292 315.301 1.353
202412 1.258 315.605 1.316
202503 1.303 319.799 1.345
202506 0.000 322.561 0.000
202509 1.412 324.800 1.436
202512 1.433 324.054 1.460
202603 1.455 330.213 1.455

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 2.28 mean?
SATS (SPASF) has a Cyclically Adjusted PB Ratio of 2.28 as of Jul. 05, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on SATS and its competitors. This is 12% below median its historical median of 2.60. Over the past decade, SATS's Cyclically Adjusted PB Ratio has ranged from 1.49 to 4.13. According to the industry distribution chart, SATS ranks #571 out of 741 companies in the Transportation industry, placing it in the top 77.1%.
Is SATS's Cyclically Adjusted PB Ratio too high?
SATS's current Cyclically Adjusted PB Ratio of 2.28 is 12% below median its 10-year median of 2.60. Over the past 10 years, this metric has ranged from a low of 1.49 to a high of 4.13. The Transportation industry median Cyclically Adjusted PB Ratio is 1.25. SATS's value of 2.28 is 82.4% above this industry median. Based on the distribution chart, SATS ranks #571 out of 741 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, SATS has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does SATS's Cyclically Adjusted PB Ratio compare to JOBY and CAAP?
According to the Transportation industry distribution chart, SATS ranks #571 out of 741 companies for Cyclically Adjusted PB Ratio. This places SATS in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. SATS's value of 2.28 is 82.4% above this benchmark. Historically, SATS's own Cyclically Adjusted PB Ratio has ranged from 1.49 to 4.13 over the past decade. While the company's 10-year median is 2.60 vs. the industry median of 1.25, SATS has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Transportation company?
The median Cyclically Adjusted PB Ratio among Transportation companies is 1.25, based on 741 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SATS's current Cyclically Adjusted PB Ratio of 2.28 is 82.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on SATS and its competitors. For the Transportation industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SATS's current Cyclically Adjusted PB Ratio is 2.28, which is 12% below median its own 10-year median of 2.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SATS stock overvalued right now?
Based on GuruFocus' analysis, SATS (SPASF) is currently considered Fairly Valued. The stock's GF Value™ is $2.99, compared to a current price of $3.27 — trading 9.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.28, which is 12% below median its 10-year median of 2.60 and 82.4% above the Transportation industry median of 1.25. SATS's overall GF Score™ is 79/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For SATS (SPASF), the current Cyclically Adjusted PB Ratio is 2.28 as of Jul. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is SATS (SPASF) Overvalued in 2026?

Based on GuruFocus' analysis, SATS stock appears to be overvalued. The current stock price of $3.27 is trading 9.2% above its estimated GF Value™ of $2.99. GuruFocus considers SATS to be Fairly Valued.

Key valuation signals for SPASF:

  • Cyclically Adjusted PB Ratio: 2.28 (12% below median its 10-year median of 2.60)
  • GF Value™: $2.99 vs. price of $3.27 (9.2% above fair value)
  • GF Score™: 79/100 with 9 warning signs
  • Industry Position: 82.4% above the Transportation median (#571 of 741)

No single metric tells the full story. See the SPASF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SATS Business Description

Address 20 Airport Boulevard, SATS Inflight Catering Centre 1, Singapore, SGP, 819659
SATS Ltd is a Singapore-based provider of ground-handling and in-flight catering services for air transportation in Asia and Australia. Additionally, it offers food distribution and logistics, industrial catering, and other amenities for hospitality and government agencies. The company has three reportable segments: food solutions (segment by revenue), gateway services, and others. The company has partnerships with multiple airlines to provide catering during flights and offers experience in planning airline menus, institutional catering, linen, and laundry to improve the airline's appearance. Gateway services cover the gamut of procedures airports must handle for each passenger. Baggage, ramp handling, passenger services, and terminal management are all offered to customers.
79GF Score

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Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$3.27
Price
$2.99
GF Value