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1. Company Snapshot

1.a. Company Description

Sats ASA provides fitness and training services in Norway, Sweden, Denmark, and Finland.The company offers sportswear, fitness gear, bars, and energy drinks.It operates 262 fitness clubs under the SATS, ELIXIA, Fresh Fitness, HiYoga, and Mentra brands.


The company was founded in 1995 and is headquartered in Oslo, Norway.

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1.b. Last Insights on SATS

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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SATS ASA (FRA:2S0) Q3 2025 Earnings Call Highlights: Strong Growth Driven by Group Training and ...

Oct -30

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SATS (OB:SATS) Margin Expansion Surpasses Expectations, Reinforcing Bullish Community Narrative

Oct -29

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European Stocks Estimated To Be Up To 37.6% Undervalued With Discounts Starting At 11.1%

Aug -28

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.68%)

6. Segments

Membership

Expected Growth: 3.5%

Sats ASA's 3.5% membership growth is driven by increasing health awareness, rising disposable income, and a growing demand for fitness services. Additionally, strategic partnerships, effective marketing, and a strong online presence contribute to the growth. Furthermore, Sats ASA's diversified fitness offerings, convenient locations, and competitive pricing also attract and retain members.

Other

Expected Growth: 4.5%

Sats ASA's 4.5% growth is driven by increasing demand for fitness and wellness services, strategic expansion into new markets, and successful implementation of digital transformation initiatives. Additionally, the company's focus on providing personalized training programs and partnerships with prominent fitness influencers have contributed to its growth momentum.

7. Detailed Products

Fitness Centers

Sats ASA operates a chain of fitness centers offering a variety of exercise equipment, group fitness classes, and personal training services.

Group Fitness Classes

Sats ASA offers a range of group fitness classes, including yoga, Pilates, spinning, and dance-based workouts.

Personal Training

Sats ASA provides one-on-one personal training sessions with certified trainers to help individuals achieve their fitness goals.

Wellness Services

Sats ASA offers wellness services such as nutrition counseling, massage therapy, and physical therapy.

Corporate Wellness

Sats ASA provides corporate wellness services, including fitness classes and workshops, to promote employee health and productivity.

Fitness Consulting

Sats ASA offers fitness consulting services to help individuals and companies develop customized fitness programs.

8. Sats ASA's Porter Forces

Forces Ranking

Threat Of Substitutes

Sats ASA operates in a market with few substitutes, but there are some alternatives available. The score is 3, indicating a moderate threat.

Bargaining Power Of Customers

Sats ASA's customers have a high bargaining power due to the availability of alternatives and the low switching costs. The score is 4, indicating a high threat.

Bargaining Power Of Suppliers

Sats ASA has a diverse supplier base, which reduces the bargaining power of individual suppliers. The score is 2, indicating a low threat.

Threat Of New Entrants

The threat of new entrants in the market is moderate due to the presence of barriers to entry, such as high capital requirements and regulatory hurdles. The score is 3, indicating a moderate threat.

Intensity Of Rivalry

The market in which Sats ASA operates is highly competitive, with several players competing for market share. The score is 4, indicating a high intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 72.34%
Debt Cost 8.27%
Equity Weight 27.66%
Equity Cost 11.06%
WACC 9.04%
Leverage 261.47%

11. Quality Control: Sats ASA passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Technogym

A-Score: 6.6/10

Value: 2.3

Growth: 6.6

Quality: 7.5

Yield: 6.9

Momentum: 8.5

Volatility: 7.7

1-Year Total Return ->

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Compagnie des Alpes

A-Score: 6.2/10

Value: 6.2

Growth: 5.8

Quality: 3.2

Yield: 6.9

Momentum: 8.5

Volatility: 6.7

1-Year Total Return ->

Stock-Card
Sats

A-Score: 5.2/10

Value: 5.5

Growth: 5.9

Quality: 5.6

Yield: 1.2

Momentum: 9.5

Volatility: 3.7

1-Year Total Return ->

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Hollywood Bowl

A-Score: 5.1/10

Value: 4.7

Growth: 8.0

Quality: 5.7

Yield: 5.0

Momentum: 2.0

Volatility: 5.0

1-Year Total Return ->

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Profoto

A-Score: 4.5/10

Value: 9.0

Growth: 2.1

Quality: 6.9

Yield: 8.8

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

Stock-Card
Harvia

A-Score: 3.8/10

Value: 1.8

Growth: 5.1

Quality: 6.6

Yield: 3.8

Momentum: 2.0

Volatility: 3.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

38.85$

Current Price

38.85$

Potential

-0.00%

Expected Cash-Flows