SANTOS LIMITED (STO)
Share Price Analysis and Chart

Enter the company code or Name for stock analysis:

STO

STO - SANTOS LIMITED

FNArena Sector : NatGas
Year End: December
GICS Industry Group : Energy
Debt/EBITDA: 2.18
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Santos is Australia's number one domestic gas supplier and aims to be a leading Asia-Pacific LNG supplier. Santos was founded in 1954 and made its first significant discovery of natural gas in the Cooper Basin in 1963. the name is an acronym of South Australia Northern Territory Oil Search.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$7.25

04 Mar
2026

-0.030

OPEN

$7.38

-0.41%

HIGH

$7.41

14,557,952

LOW

$7.13

TARGET
$7.352

+0.07 change from previous day

 1.4% upside
Franking for last dividend paid out: 9%
OTHER COMPANIES IN THE SAME SECTOR
AEL . APA . BLU . COI . CRD . CTP . D3E . GHY . GLL . KAR . ORG . STX . TBN . WDS .
FNARENA'S MARKET CONSENSUS FORECASTS
STO: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 48.3 xxx
DPS (cps) 33.6 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 15.2 xxx
Dividend Yield 4.6% xxx
Div Pay Ratio(%) 69.6% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 02/09 - ex-div 20.90c (franking 9%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx39.2
DPS All xxxxxxxxxxxxxxx34.9
Sales/Revenue xxxxxxxxxxxxxxx7,881.3 M
Book Value Per Share xxxxxxxxxxxxxxx725.0
Net Operating Cash Flow xxxxxxxxxxxxxxx3,963.9 M
Net Profit Margin xxxxxxxxxxxxxxx16.10 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx5.22 %
Return on Invested Capital xxxxxxxxxxxxxxx3.68 %
Return on Assets xxxxxxxxxxxxxxx2.59 %
Return on Equity xxxxxxxxxxxxxxx5.22 %
Return on Total Capital xxxxxxxxxxxxxxx6.04 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-231.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx396 M
Long Term Debt xxxxxxxxxxxxxxx10,911 M
Total Debt xxxxxxxxxxxxxxx11,307 M
Goodwill - Gross xxxxxxxxxxxxxxx2,242 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,582 M
Price To Book Value xxxxxxxxxxxxxxx0.85

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx3,188.5 M
Capex % of Sales xxxxxxxxxxxxxxx40.46 %
Cost of Goods Sold xxxxxxxxxxxxxxx5,456 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx290 M
Research & Development xxxxxxxxxxxxxxx16 M
Investments - Total xxxxxxxxxxxxxxx567 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.7

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Citi

19/02/2026

1

Buy

$7.00

-3.45%

Santos delivered an in-line 2025 result that had been largely pre-disclosed, leaving little surprise in the reported numbers, according to Citi.

The broker views the announced Strategic Review of the Australian portfolio as the key next catalyst, potentially enabling portfolio rationalisation and accelerated capital returns, while management shifts to execution of the Barossa and Pikka growth projects.

Balance sheet discipline was also central, with management signalling the company is passing peak gearing as new projects begin contributing cash flow.

Citi makes only minor forecast changes, adjusting 2026 earnings forecasts down -1% and 2027 up 1%, and maintains a Buy rating with a $7.00 target.

FORECAST
Citi forecasts a full year FY26 dividend of 47.24 cents and EPS of 45.41 cents.
Citi forecasts a full year FY27 dividend of 51.81 cents and EPS of 61.87 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial

Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

25/02/2026

4

Underweight

$5.90

-18.62%

In the wake of Santos' FY25 result, Jarden trims its 2027 production forecast by -4%, and highlights softer guidance. 2027 output is now flagged at around 25% above 2025 levels versus prior guidance of growth above 30%.

While 2025 underlying profit of US$898m was in line with the broker's forecast, and 2026 guidance was unchanged, Jarden expects consensus downgrades to follow.

A strategic review of Australian assets is underway, note the analysts, with potential divestments flagged as capital is prioritised towards higher-return projects.

The target eases to $5.90 from $6.00. Underweight rating maintained.

FORECAST
Jarden forecasts a full year FY26 dividend of 34.75 cents and EPS of 39.93 cents.
Jarden forecasts a full year FY27 dividend of 34.90 cents and EPS of 53.34 cents.
Access Extra Coverage Research History >

STO STOCK CHART

FNArena News on STO

1
Australian Broker Call *Extra* Edition – Feb 25, 2026

Feb 25 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 19-02-2026

Feb 19 2026 - Australia
3
Australian Broker Call *Extra* Edition – Feb 16, 2026

Feb 16 2026 - Daily Market Reports
4
Australian Broker Call *Extra* Edition – Feb 11, 2026

Feb 11 2026 - Daily Market Reports
5
Australian Broker Call *Extra* Edition – Jan 29, 2026

Jan 29 2026 - Daily Market Reports

Latest NatGas News

1
Woodside Shares Readying to Target $38

Feb 24 2026 - Technicals
2
A Major Low For Santos Shares (?)

Jan 27 2026 - Technicals
3
Compare The Pair: Woodside Versus Santos

Dec 08 2025 - Commodities
4
LGI: ASX’s Most Compelling Decarbonisation Play

Nov 26 2025 - Small Caps
5
Woodside Targets Significant Dividend Increase

Nov 12 2025 - Commodities
6
Santos Setback: Back To Fundamentals

Sep 24 2025 - Commodities
7
Woodside Shares Targeting $30

Aug 12 2025 - Technicals
8
Meet LGI, Alternative Clean Energy Producer

Apr 10 2025 - Small Caps
9
All Eyes On Woodside’s Lousiana LNG Sell Down

Feb 27 2025 - Commodities
10
Is Santos A Re-Rating In Waiting?

Jan 29 2025 - Commodities