Fact based stock research
SES (BDL:SESGL)

LU0088087324

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

SES stock research in summary

ses.com

ANALYSIS: With an Obermatt Combined Rank of 72 (better than 72% compared with investment alternatives), SES (Cable & Satellite, Luxembourg) shares have above-average financial characteristics compared with similar stocks. Shares of SES are a good value (attractively priced) with a consolidated Value Rank of 65 (better than 65% of alternatives), are safely financed (Safety Rank of 67, which means low debt burdens), but show below-average growth (Growth Rank of 43). ...read more

RECOMMENDATION: A Combined Rank of 72, is a buy recommendation based on SES's financial characteristics. As the company SES's key financial metrics exhibit good value (Obermatt Value Rank of 65) but low growth (Obermatt Growth Rank of 43) while being safely financed (Obermatt Safety Rank of 67), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 65% of comparable companies, may also indicate that the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity and the downside is limited due to below-average financing risks. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	65
Growth Rank	43
Safety Rank	67
Combined Rank	72

Country	Luxembourg
Industry	Cable & Satellite
Index	CAC All, SBF 120, SDG 10, SDG 3, SDG 4, SDG 8, SDG 9, Sound Pay Europe
Size class	Medium

This stock has achievements: Top 10 Stock.

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: SES

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	67	64	73	65
GROWTH
GROWTH	17	43	3	43
SAFETY
SAFETY	65	59	89	67
SENTIMENT
SENTIMENT	60	42	29	^new
360° VIEW
360° VIEW	53	64	46	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Dec-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better SES is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	67	64	73	65
GROWTH
GROWTH	17	43	3	43
SAFETY
SAFETY	65	59	89	67
COMBINED
COMBINED	51	60	63	72

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of SES the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 65 (better than 65% compared with alternatives), SES shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for SES. Expected dividend yields are higher than for 93% of comparable companies (a Dividend Yield rank of 93), making the stock attractive. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 87, which means that the stock price is lower compared with invested capital than for 87% of comparable investments. But in respect to sales and profits, the picture is reversed. Price-to-Sales is 38 which means that the stock price compared with what market professionals expect for future profits is higher than for 62% of comparable companies, indicating a low value concerning SES's sales levels. The Price-to-Profit ratio (also referred to as price-earnings (P/E) ratio) is also unfavorable for SES with a rank of 16. This means that the stock price, compared with what market professionals expect for future profits, is higher than for 84% of comparable companies, indicating a low value concerning SES's profit levels. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 65, is a buy recommendation based on SES's stock price compared with the company's operational size and dividend yields. The company seems confident that it can generate a reasonable return on invested capital, because it pays an above-average dividend while profits are below what you would expect for a company with this stock price. If you agree with this practice and believe that profits will return to higher levels, as the current dividend policy suggests, SES may be an attractive investment. If this is not the case, you may want to be careful with this stock as it is also expensive compared with its expected revenue levels. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	35	34	54	38
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	46	12	12	16
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	95	91	88	87
DIVIDEND YIELD
DIVIDEND YIELD	87	92	97	93
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	67	64	73	65

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of SES; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 43 (better than 43% compared with alternatives), SES shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for SES. Profit Growth has a rank of 53, which means that currently professionals expect the company to grow its profits more than 53% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 73 (above 73% of alternative investments). But Sales Growth has a below the median rank of 14, which means that, currently, professionals expect the company to grow less than 86% of its competitors, and Capital Growth also has a lower rank of 30. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 43, is a hold recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for SES. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	12	1	17	14
PROFIT GROWTH
PROFIT GROWTH	100	100	10	53
CAPITAL GROWTH
CAPITAL GROWTH	6	34	6	30
STOCK RETURNS
STOCK RETURNS	19	45	9	73
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	17	43	3	43

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of SES.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 67 (better than 67% compared with alternatives), the company SES has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of SES is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for SES and the other two below average. Refinancing is at 100, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 100% of its competitors. But Leverage is high with a rank of 36, meaning the company has an above-average debt-to-equity ratio. It has more debt than 64% of its competitors. Liquidity is also on the riskier side with a rank of 30, meaning the company generates less profit to service its debt than 70% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 67 (better than 67% compared with alternatives), SES has a financing structure that is safer than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for SES are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with SES and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	72	61	51	36
REFINANCING
REFINANCING	53	59	100	100
LIQUIDITY
LIQUIDITY	34	35	46	30
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	65	59	89	67

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of SES and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	34	23	^new
OPINIONS CHANGE
OPINIONS CHANGE	40	60	56	^new
PRO HOLDINGS
PRO HOLDINGS	47	32	5	^new
MARKET PULSE
MARKET PULSE	86	57	74	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	60	42	29	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for SES.
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