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 48 (worse than 52% compared with investment alternatives), SES (Cable & Satellite, Luxembourg) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of SES are a good value (attractively priced) with a consolidated Value Rank of 61 (better than 61% of alternatives), are safely financed (Safety Rank of 73, which means low debt burdens), but show below-average growth (Growth Rank of 15). ...read more

RECOMMENDATION: A Combined Rank of 48, is a hold recommendation based on SES's financial characteristics. As the company SES's key financial metrics exhibit good value (Obermatt Value Rank of 61) but low growth (Obermatt Growth Rank of 15) while being safely financed (Obermatt Safety Rank of 73), it may be a safer investment because companies with low debt can better withstand times of crises. Yet the good value, better than 61% 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	61
Growth Rank	15
Safety Rank	73
Combined Rank	48

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	Large

This stock has achievements: Top 10 Stock.

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

Further information

Multiple opinions. One number.

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.

Why popular stocks have low ratings

It’s easier said than done. When your stock drops, it’s easy to want to sell it and find a better performer. Think twice, or even three times, before trading. Those fees (especially the hidden ones) can eat up your gains.

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	61
GROWTH
GROWTH	17	43	3	15
SAFETY
SAFETY	65	59	89	73
SENTIMENT
SENTIMENT	60	42	29	^new
360° VIEW
360° VIEW	53	64	46	^new

Most recent update of the stock research: 10-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	61
GROWTH
GROWTH	17	43	3	15
SAFETY
SAFETY	65	59	89	73
COMBINED
COMBINED	51	60	63	48

Last update of combined financial performance: 10-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 61 (better than 61% 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 94% of comparable companies (a Dividend Yield rank of 94), 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 83, which means that the stock price is lower compared with invested capital than for 83% of comparable investments. But in respect to sales and profits, the picture is reversed. Price-to-Sales is 35 which means that the stock price compared with what market professionals expect for future profits is higher than for 65% 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 61, 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	35
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	83
DIVIDEND YIELD
DIVIDEND YIELD	87	92	97	94
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	67	64	73	61

Last update of Value Rank: 10-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 15 (better than 15% compared with alternatives), SES shows one of the most restricted growth dynamics in its industry. There is little momentum in this company. The Growth Rank is based on consolidating four value indicators, with three out of four indicators below average for SES. Sales Growth has a below market rank of 6, which means that, currently, professionals expect the company to grow less than 94% of its competitors. The same is valid for Capital Growth, with a rank of 17, and Profit Growth, with a rank of 44. Currently, professionals expect the company to grow its profits less than 56% of its competitors). Only shareholders are optimistic. Stock Returns are above average at a rank of 79, which means that the stock returns have recently been above 79% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 15, is a sell recommendation for growth and momentum investors. That picture may be the result for a company that has reached the bottom. All went south for SES, and it still looks bad, but some investors already see light at the end of the tunnel, rewarding the stock with recent above-market stock returns. It could also mean that investors are correcting an overreaction to negative news. If that were the case, the positive stock returns are not yet a sign of recovery. Investors should look closely at the Value and Sentiment indicators before they make a stock purchasing decision, because growth is unlikely to be the driving argument behind this investment. 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 low here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	12	1	17	6
PROFIT GROWTH
PROFIT GROWTH	100	100	10	44
CAPITAL GROWTH
CAPITAL GROWTH	6	34	6	17
STOCK RETURNS
STOCK RETURNS	19	45	9	79
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	17	43	3	15

Last update of Growth Rank: 10-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 73 (better than 73% 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 99, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 99% of its competitors. But Leverage is high with a rank of 38, meaning the company has an above-average debt-to-equity ratio. It has more debt than 62% of its competitors. Liquidity is also on the riskier side with a rank of 31, meaning the company generates less profit to service its debt than 69% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 73 (better than 73% 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	38
REFINANCING
REFINANCING	53	59	100	99
LIQUIDITY
LIQUIDITY	34	35	46	31
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	65	59	89	73

Last update of Safety Rank: 10-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: 10-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for SES.
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