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

$7.88

11 Aug
2025

0.000

OPEN

$7.88

0.000

HIGH

$7.88

0

LOW

$7.88

TARGET
$8.327 5.7% upside
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) 53.2 xxx
DPS (cps) 28.8 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 14.8 xxx
Dividend Yield 3.7% xxx
Div Pay Ratio(%) 54.1% 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: 6.03%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 5.33

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

0.5

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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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

18/07/2025

1

Buy

$7.90

0.25%

UBS highlights Santos' 2Q25 production beat its forecast by 1.7% and consensus by 1.9%, and revenue beat by 4.1% and 6.3% vs its estimate and consensus, respectively.

Cooper basin production is expected to be weaker than expected, prompting a lowering in the FY25 guidance to 90-95MMboe from 90-97MMboe, but the broker notes consensus was already at the lower end.

The analyst lowered the production cost forecast for Barossa and Cooper basin to reflect a lower cost guidance, lifted the 2025 capex estimate slightly and assumes first gas for Barossa in 3Q25. EPS forecast for FY25 and FY26 increases by 1%.

Buy. Target unchanged at $7.90.

FORECAST
UBS forecasts a full year FY25 dividend of 26.91 cents and EPS of 60.31 cents.
UBS forecasts a full year FY26 dividend of 49.49 cents and EPS of 77.33 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

4

xxxx

$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

22/07/2025

2

Overweight

$8.40

6.60%

It is Jarden's assessment Santos delivered a solid June quarter update, comfortably beating the broker's and consensus forecasts on production and revenue.

Output of 22.2mmboe was 2% ahead of expectations, while sales revenue of US$1.29bn exceeded estimates by 6%. Free cash flow surged to US$1.1bn in 1H25, keeping gearing well within the target range.

Attention now shifts to the ADNOC-led consortium’s indicative bid for Santos at US$5.76/share, with due diligence scheduled to conclude by 8 August.

Jarden expects the share price will remain below the proposed bid price for now but could rally if a Scheme Implementation Agreement is signed post due diligence.

Commentary highlights growth projects remain on track, with Barossa circa 97% complete and targeting first gas this quarter, while Pikka is nearly 89% complete and expected to deliver first oil by mid-2026.

Jarden retains an Overweight rating and an unchanged target price of $8.40, noting corporate activity is likely to drive near-term share price movements.

DPS estimates have been increased noticeably.

FORECAST
Jarden forecasts a full year FY25 dividend of 34.33 cents and EPS of 45.47 cents.
Jarden forecasts a full year FY26 dividend of 35.42 cents and EPS of 63.56 cents.
Access Extra Coverage Research History >

STO STOCK CHART

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