Santos Limited stock analysis
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Santos Limited (STO) Share Price & Analysis
STO Stock Chart & Stats
- Day’s Range
- AUD 8.49 - AUD 8.64
- 52-Week Range
- AUD 5.90 - AUD 9.42
- Previous Close
- AUD 8.56
- Volume
- N/A
- Average Volume (3M)
- 11.20M
- Market Cap
- AUD 27.87B
- Enterprise Value
- AUD 32.46B
- Total Cash (Recent Filing)
- AUD 1.13B
- Total Debt (Recent Filing)
- AUD 7.36B
- Price to Earnings (P/E)
- 25.9
- Beta
- 0.09
- Next Earnings
- Feb 23, 2027 (Est.)
- EPS Estimate
- 0.56
- Last Dividend Ex-Date
- Aug 24, 2026
- Dividend Yield
- 3.58%
Bulls Say, Bears Say
Bulls Say
Growth Project Ramp-up
Barossa and Pikka provide tangible production growth beyond the existing portfolio, with both projects already online and moving toward higher output. Their ramp-up can expand volumes, improve operating leverage, and strengthen Santos’ medium-term cash-generation capacity.
Strong Margins And Cost Discipline
A high EBITDAX margin and relatively low production cost indicate a resilient operating model with meaningful cash generation capacity. Continued cost discipline, including the stated path below $7/boe, could help protect profitability through changes in commodity pricing.
Operational Reliability
Consistently high plant reliability supports dependable production, cargo scheduling and customer supply. The absence of major safety incidents and strong performance across several facilities also indicate operational capabilities that can underpin stable execution as new projects ramp.
Bears Say
Declining Revenue And Earnings
The multi-year revenue contraction shows that recent project growth has not yet offset pressure across the broader portfolio. Lower revenue and reduced net income can weaken internal funding capacity and make Santos more dependent on successful production growth.
Elevated Leverage
Leverage above management’s target reduces financial flexibility while Santos is still funding major projects and seeking to lower debt. The balance sheet remains investment grade, but debt reduction needs could constrain discretionary capital allocation and dividends.
Pressed Free Cash Flow
Weak near-term free cash flow reflects the cash burden of commissioning and project timing, even though some items are expected to reverse. Until those effects unwind and ramp-up delivers higher output, cash conversion may remain uneven and limit deleveraging speed.
Santos Limited News
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Santos Limited Stock Smart Score
Company Description
Santos Limited
Santos Limited explores, develops, produces, transports, and markets hydrocarbons in Australia and Papua New Guinea. The company’s assets are located in the Alaska, Cooper Basin, Queensland and New South Wales, Papua New Guinea, Northern Australia, Timor-Leste and Western Australia. It also engages in the development of decarbonization technologies. In addition, the company produces crude oil, liquefied petroleum gas, ethane, liquefied natural gas, and condensate, as well as natural gas. Santos Limited was incorporated in 1954 and is headquartered in Adelaide, Australia.
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- CEO
- Kevin Thomas Gallagher FIEAust
- Employees
- 4,028
- Website
- www.santos.com
- Address
- Santos Centre, Adelaide, SA, 5000, AU
Santos Limited (STO) Earnings & Revenues
STO Company Deck
STO Earnings Call
Earnings Call SentimentPositive
The call presents a constructive and forward-looking picture: Santos brought major growth projects online (Pikka, Barossa), delivered strong plant reliability and safety, declared a dividend, and set clear targets (breakeven $45–$50/bbl, $2.5bn net debt reduction by 2030). Near-term H1 cash generation was constrained by expected commissioning costs, cargo timing and an underlift position, and gearing remains above target, but management expects these effects to unwind and for materially stronger cash generation in H2 as Barossa and Pikka ramp towards plateau and realized LNG pricing improves. Overall the positives (project starts, rising H2 guidance, operational reliability, pricing tailwinds and disciplined capital framework) outweigh the near-term lowlights tied largely to timing and commissioning.
View all AU:STO earnings summariesSTO Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 8 | 4 | 10 |
| Technical Analysis | 4 | 4 | 2 |
| Moving Averages | 4 | 0 | 8 |
