SANTOS LIMITED (STO)
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STO

STO - SANTOS LIMITED

FNArena Sector : NatGas
Year End: December
GICS Industry Group : Energy
Debt/EBITDA: 2.02
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

$7.66

15 Sep
2025

0.070

OPEN

$7.59

0.92%

HIGH

$7.67

9,497,060

LOW

$7.58

TARGET
$8.695 13.5% upside
Franking for last dividend paid out: 9%
OTHER COMPANIES IN THE SAME SECTOR
AEL . APA . BLU . COI . CRD . CTP . GHY . GLL . KAR . ORG . STX . TBN . WDS .
FNARENA'S MARKET CONSENSUS FORECASTS
STO: 1
Title FY25
Forecast		 FY26
Forecast
EPS (cps) 56.5 xxx
DPS (cps) 38.1 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 13.6 xxx
Dividend Yield 5.0% xxx
Div Pay Ratio(%) 67.4% 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: 5.30%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.42

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: 26/08 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx57.3
DPS All xxxxxxxxxxxxxxx35.5
Sales/Revenue xxxxxxxxxxxxxxx8,299.0 M
Book Value Per Share xxxxxxxxxxxxxxx774.5
Net Operating Cash Flow xxxxxxxxxxxxxxx3,797.8 M
Net Profit Margin xxxxxxxxxxxxxxx22.36 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx7.82 %
Return on Invested Capital xxxxxxxxxxxxxxx5.74 %
Return on Assets xxxxxxxxxxxxxxx3.89 %
Return on Equity xxxxxxxxxxxxxxx7.82 %
Return on Total Capital xxxxxxxxxxxxxxx7.95 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1,106.7 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 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx1,433 M
Long Term Debt xxxxxxxxxxxxxxx9,369 M
Total Debt xxxxxxxxxxxxxxx10,802 M
Goodwill - Gross xxxxxxxxxxxxxxx2,415 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,961 M
Price To Book Value xxxxxxxxxxxxxxx0.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx3,640.1 M
Capex % of Sales xxxxxxxxxxxxxxx43.86 %
Cost of Goods Sold xxxxxxxxxxxxxxx5,391 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx233 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx704 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

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Macquarie

26/08/2025

1

Outperform

$8.55

11.62%

Santos' first half results were a little stronger than consensus, Macquarie notes, and the company returned a 40% free cash flow dividend payout (US13.4c with 10% franking) slightly ahead of consensus.

Alaska (Pikka) first oil was brought forward by a quarter to the March quarter 2026. Hay River barge logistics worked, the broker notes, which had been a risk. Barossa is due to produce first gas in the next 4-5 weeks.

The XRG consortium's third offer of US$5.76/sh was announced on 16 June, followed by the original process deed, which allowed six weeks of exclusive due diligence. Macquarie expects the XRG-led proposal progresses to binding once customary protections are fully agreed.

Target slips to $8.55 from $8.60, Outperform retained.

FORECAST
Macquarie forecasts a full year FY25 dividend of 34.74 cents and EPS of 54.59 cents.
Macquarie forecasts a full year FY26 dividend of 35.67 cents and EPS of 51.95 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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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

01/09/2025

2

Overweight

$8.40

9.66%

Update on the ADNOC-led consortium’s indicative bid for Santos took priority over its 1H25 result. The company confirmed it has granted the consortium a further four weeks for due diligence.

It warned the consortium may need to compensate shareholders if delays extend further. Overall, Jarden reckons the deal remains broadly on track, but with some additional delays.

EBITDAX for 1H25 of US$1.758bn was 1% higher than the consensus but -2% below the broker's forecast. Underlying net profit also missed the broker's forecast.

The company announced US13.4c dividend which means the bid price of US$5.76/share will be adjusted by the amount.

Overweight. Target unchanged at $8.40.

FORECAST
Jarden forecasts a full year FY25 dividend of 35.83 cents and EPS of 47.61 cents.
Jarden forecasts a full year FY26 dividend of 36.29 cents and EPS of 62.34 cents.
Access Extra Coverage Research History >

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