Company Valuation: Santos Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 15,506 16,030 16,778 13,392 13,334 17,350 - -
Change - 3.38% 4.67% -20.18% -0.43% 30.12% - -
Enterprise Value (EV) 1 20,579 19,480 21,042 18,283 19,098 21,957 21,294 20,568
Change - -5.34% 8.02% -13.11% 4.46% 14.97% -3.02% -3.41%
P/E 15x 7.73x 12x 11x 16.4x 11.9x 10.8x 10.8x
PBR 1.14x 1.08x 1.1x 0.87x 0.85x 1.06x 1.05x 1.03x
PEG - 0x -0.4x -0.8x -0.5x 0.2x 1.09x 17.34x
Capitalization / Revenue 3.29x 2.06x 2.85x 2.49x 2.7x 2.62x 2.51x 2.47x
EV / Revenue 4.37x 2.5x 3.57x 3.4x 3.87x 3.31x 3.08x 2.93x
EV / EBITDA 7.68x 3.54x 5.26x 5.03x 5.71x 4.79x 4.36x 4.23x
EV / EBIT 14.3x 5.19x 10.1x 9.08x 12.1x 9.13x 8.18x 7.88x
EV / FCF 17.6x 6.83x 9.89x 40.7x 25.2x 14.5x 9.7x 9.26x
FCF Yield 5.68% 14.6% 10.1% 2.46% 3.96% 6.91% 10.3% 10.8%
Dividend per Share 2 0.14 0.151 0.262 0.233 0.237 0.3183 0.3793 0.368
Rate of return 3.05% 3.11% 5.06% 5.64% 5.76% 5.94% 7.08% 6.87%
EPS 2 0.306 0.628 0.432 0.376 0.251 0.4501 0.4944 0.4975
Distribution rate 45.8% 24% 60.6% 62% 94.4% 70.7% 76.7% 74%
Net sales 1 4,713 7,790 5,889 5,381 4,939 6,634 6,910 7,018
EBITDA 1 2,679 5,498 3,997 3,637 3,342 4,583 4,887 4,867
EBIT 1 1,436 3,751 2,075 2,013 1,574 2,406 2,604 2,609
Net income 1 658 2,112 1,416 1,224 818 1,470 1,622 1,647
Net Debt 1 5,073 3,450 4,264 4,891 5,764 4,607 3,944 3,218
Reference price 2 4.588 4.853 5.181 4.134 4.116 5.354 5.354 5.354
Nbr of stocks (in thousands) 3,379,649 3,303,215 3,238,575 3,239,501 3,239,897 3,240,271 - -
Announcement Date 2/15/22 2/21/23 2/20/24 2/18/25 1/21/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.93x3.62x6.56x5.69% 1,733B
12.48x1.73x5.65x3.75% 374B
8.05x0.62x3.85x6.54% 286B
7.99x0.88x3.85x3.49% 248B
7.95x1.02x4.26x4.78% 190B
5.85x1.73x2.77x7.7% 148B
3.42x1.54x2.92x11.24% 115B
7.1x0.81x1.98x4.03% 92.76B
8.6x0.8x3.99x4.81% 78.04B
Average 8.37x 1.42x 3.98x 5.78% 362.8B
Weighted average by Cap. 11.39x 2.47x 5.39x 5.54%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield