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Santos Limited
(Sydney:STO)
Santos Limited (STO) vs. iShares MSCI Australia ETF (EWA)
Santos Limited Business Overview & Revenue Model
Santos Limited Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.40B | 5.89B | 7.79B | 4.64B | 3.39B |
| Gross Profit | 3.70B | 2.22B | 5.64B | 1.59B | 1.76B |
| EBITDA | 3.67B | 3.97B | 4.97B | 2.65B | 941.00M |
| Net Income | 1.22B | 1.42B | 2.11B | 476.94M | -357.00M |
Balance Sheet | |||||
| Total Assets | 29.63B | 29.76B | 28.86B | 31.02B | 17.66B |
| Cash, Cash Equivalents and Short-Term Investments | 1.86B | 2.28B | 2.46B | 2.97B | 1.32B |
| Total Debt | 6.69B | 6.16B | 5.52B | 8.02B | 5.00B |
| Total Liabilities | 14.10B | 14.48B | 14.01B | 17.45B | 10.43B |
| Stockholders Equity | 15.54B | 15.28B | 14.84B | 13.57B | 7.23B |
Cash Flow | |||||
| Free Cash Flow | 449.00M | 889.00M | 2.15B | 1.07B | 1.29B |
| Operating Cash Flow | 2.85B | 3.26B | 3.86B | 2.14B | 1.48B |
| Investing Cash Flow | -2.69B | -2.90B | -1.67B | -76.29M | -1.46B |
| Financing Cash Flow | -206.00M | -860.00M | -3.40B | -464.50M | 246.00M |
Santos Limited Technical Analysis
Santos Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $24.53B | 13.22 | 7.94% | 4.31% | -7.99% | -12.27% | |
71 Outperform | AU$45.52B | 8.40 | 10.07% | 7.12% | 0.71% | 120.95% | |
68 Neutral | $14.70B | 9.57 | 6.41% | 5.37% | 4.12% | -71.24% | |
58 Neutral | $3.00B | 32.55 | 2.70% | 6.98% | 6.43% | ― | |
45 Neutral | AU$415.70M | 57.35 | -4.01% | ― | 801.92% | -985.71% | |
35 Underperform | AU$376.24M | ― | -10.88% | ― | ― | 56.73% |
Santos Limited Corporate Events
Santos Limited has entered into a process and exclusivity deed with XRG P.J.S.C., a subsidiary of Abu Dhabi National Oil Company, for a potential acquisition of all Santos shares. This agreement grants XRG exclusive due diligence access for six weeks, with provisions for negotiating a binding scheme implementation deed. While the deal could significantly impact Santos’ operations and market positioning, there is no certainty it will proceed.
The most recent analyst rating on (AU:STO) stock is a Hold with a A$7.60 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
Santos Limited has announced a major milestone with the arrival and successful hookup of the BW Opal FPSO vessel at the Barossa gas field, marking progress towards first gas production in the third quarter of 2025. This development is part of the Barossa LNG project, which has seen an investment of US$3.95 billion and is expected to significantly increase Santos’ production capacity. The project is poised to deliver stable cash flows and enhance shareholder returns, while also contributing to energy security in Asia. Additionally, the company is actively investing in community development through the Barossa Aboriginal Future Fund, supporting local infrastructure and cultural projects in the Northern Territory.
The most recent analyst rating on (AU:STO) stock is a Hold with a A$7.60 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
Santos Limited has received a non-binding indicative proposal from the XRG Consortium, led by a subsidiary of Abu Dhabi National Oil Company, to acquire all ordinary shares of Santos at a cash offer price of US$5.76 per share. This proposal represents a significant premium over recent trading prices and is subject to due diligence and regulatory approvals. The Santos Board is considering the proposal and intends to recommend it to shareholders, pending agreement on terms and absence of a superior offer.
The most recent analyst rating on (AU:STO) stock is a Hold with a A$7.60 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
Santos Limited has had its ‘BBB’ credit rating with a stable outlook reaffirmed by Fitch Ratings, highlighting its strong business profile and diversified asset base. The rating reflects Santos’ disciplined low-cost operating model, which has enabled the company to maintain low production costs despite industry inflation and invest in major growth projects. These projects are expected to enhance production and shareholder returns, with a target payout ratio of up to 100% of free cash flow through dividends and share buybacks by 2026. The reaffirmed credit rating supports Santos’ access to global debt capital markets and underscores its financial resilience.
The most recent analyst rating on (AU:STO) stock is a Hold with a A$7.60 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
Santos Limited announced a change in the registry address for its Sydney office of Computershare Investor Services Pty Limited, effective 10 June 2025. This administrative update is part of the company’s ongoing efforts to streamline operations, with no changes to telephone numbers or postal addresses, ensuring minimal disruption for stakeholders.
The most recent analyst rating on (AU:STO) stock is a Hold with a A$7.60 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.
Santos Limited announced the issuance of 3,428,591 share acquisition rights as part of an employee incentive scheme. This move is likely to enhance employee engagement and align their interests with the company’s growth objectives, potentially strengthening Santos’ position in the competitive energy market.
Santos Limited announced the cessation of 7,639 share acquisition rights under the ASX security code STOAZ due to the lapse of conditional rights, as the conditions were not met or became incapable of being satisfied. This announcement may impact the company’s capital structure and could have implications for stakeholders, highlighting the importance of meeting conditional requirements in securities management.
Santos Limited has announced the issuance and conversion of unquoted equity securities, specifically 466 ordinary fully paid shares, as of April 28, 2025. This move is part of the company’s ongoing financial strategies and may impact its market positioning by potentially increasing shareholder value and enhancing capital structure.
Santos Limited has announced an ambitious carbon storage target, aiming to enhance its operations in carbon storage projects. This target, while not a forecast, represents a significant growth goal for the company and requires extensive collaboration with stakeholders, including customers, governments, and regulators. The projects to achieve this target are in the early planning stages, and their commercial and economic viability is yet to be confirmed.
Santos Limited announced a change in the director’s interest, specifically regarding Kevin Thomas Gallagher, who has acquired an additional 566,343 share acquisition rights. This change, effective from May 2, 2025, was a result of the Long-Term Incentive Grant approved by shareholders, indicating a strategic move to align the director’s interests with the company’s long-term performance goals.
Santos Limited has announced a change in the director’s interest, specifically involving Kevin Thomas Gallagher, who has acquired 139,466 fully paid ordinary shares. This change reflects a transfer of beneficial interest in shares held by the employee share plan trustee, deferred for two years as part of the 2024 STI award. The announcement highlights the company’s ongoing commitment to aligning the interests of its leadership with its operational goals, potentially impacting stakeholder confidence and market perception.
Santos Limited reported strong financial results for the first quarter of 2025, with a 9% increase in free cash flow from operations, driven by higher production in Western Australia and robust LNG sales. The company is nearing completion of significant development projects, including the Barossa LNG and Pikka phase 1, which are expected to boost production by over 30% by 2027. Santos continues to focus on operational excellence and project execution, maintaining resilience amid volatile markets. The company’s carbon capture and storage initiative, Moomba CCS, is performing well, supporting its decarbonization strategy.
Santos Limited announced the cessation of 29,191 share acquisition rights due to the lapse of conditional rights that were not met. This development may impact the company’s capital structure and could influence investor sentiment, reflecting the challenges in meeting certain operational or financial conditions.
Santos Limited has announced the issuance of 6,474 ordinary fully paid securities, effective from April 11, 2025. This move is part of the company’s ongoing financial strategies, potentially impacting its market position and offering implications for stakeholders regarding the company’s growth and investment opportunities.
Santos Limited announced significant progress in its key projects during the 2025 Annual General Meeting. The Pikka project’s pipeline is nearly complete a year ahead of schedule, potentially allowing for early production. The Barossa LNG project is 95.2% complete and is expected to start gas production in the third quarter of 2025. The company received strong shareholder support for its climate strategy, reflecting confidence in its decarbonization efforts. Santos remains resilient amid global market volatility, with a strong balance sheet and plans to increase production by over 30% by 2027, positioning itself well for future growth.
At the 2025 Annual General Meeting, Santos Limited highlighted its strong cash flow generation and successful execution of major projects, contributing to new production. The company achieved its best personal safety performance in a decade, despite facing global challenges such as geopolitical instability and energy security concerns. Santos continues to focus on sustainable growth and decarbonization, positioning itself to navigate the evolving energy landscape.