SANTOS LIMITED (STO)
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STO

STO - SANTOS LIMITED

FNArena Sector : NatGas
Year End: December
GICS Industry Group : Energy
Debt/EBITDA: 2.18
Index: 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

$8.00

30 Apr
2026

0.230

OPEN

$7.89

2.96%

HIGH

$8.01

23,866,661

LOW

$7.84

TARGET
$8.158 2.0% 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) 81.9 xxx
DPS (cps) 53.7 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 9.8 xxx
Dividend Yield 6.7% xxx
Div Pay Ratio(%) 65.6% 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

0.6

No. Of Recommendations

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

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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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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Morgan Stanley

24/04/2026

3

Equal-weight

$7.50

-6.25%

Morgan Stanley anticipates a "muted" response to Santos' March 2026 results with unchanged FY26 guidance.

March quarter production rose 2% q/q some -4% below the analyst's forecast and -5% below consensus due to timing in PNG LNS.

The sales revenue over the period lifted 3% q/q and was down -2% y/y and capex was down -29% q/q to US$441m some -10% below the broker's expectations and 6% higher than consensus.

Target remains at $7.50. Equal-weight. Industry view In-Line.

FORECAST
Morgan Stanley forecasts a full year FY26 EPS of 97.41 cents.
Morgan Stanley forecasts a full year FY27 EPS of 105.64 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

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

23/04/2026

2

Upgrade to Overweight from Underweight

$8.80

10.00%

Jarden upgrades Santos to an Overweight rating from Underweight and lowers its target price to $8.80 following a solid quarterly production update clouded by ongoing commissioning issues.

Operations delivered 22.5m barrels of oil equivalent, reflecting a 1% sequential increase, though management was forced to procure four spot LNG cargoes to meet contracted commitments amid delays at the Barossa project.

Slower ramp-up profiles at both Barossa and the Pikka oil development prompt Jarden to anticipate an impending downgrade to 2026 production guidance.

Despite these near-term operational hurdles, the company is anticipated to transition from a prolonged capital investment phase into a period of robust free cash flow generation by the second half of 2026.

The conclusion drawn is valuation remains compelling, further supported by an elevated global energy pricing environment driven by persistent Middle Eastern supply risks.

FORECAST
Jarden forecasts a full year FY26 dividend of 101.45 cents and EPS of 99.06 cents.
Jarden forecasts a full year FY27 dividend of 144.25 cents and EPS of 125.99 cents.
Access Extra Coverage Research History >

STO STOCK CHART

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