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 17,682 - -
Change - 3.38% 4.67% -20.18% -0.43% 32.61% - -
Enterprise Value (EV) 1 20,579 19,480 21,042 18,283 19,098 22,290 21,626 20,900
Change - -5.34% 8.02% -13.11% 4.46% 16.71% -2.98% -3.36%
P/E 15x 7.73x 12x 11x 16.4x 12.1x 11x 11x
PBR 1.14x 1.08x 1.1x 0.87x 0.85x 1.08x 1.07x 1.05x
PEG - 0x -0.4x -0.8x -0.5x 0.2x 1.11x 18.01x
Capitalization / Revenue 3.29x 2.06x 2.85x 2.49x 2.7x 2.67x 2.56x 2.52x
EV / Revenue 4.37x 2.5x 3.57x 3.4x 3.87x 3.36x 3.13x 2.98x
EV / EBITDA 7.68x 3.54x 5.26x 5.03x 5.71x 4.86x 4.43x 4.29x
EV / EBIT 14.3x 5.19x 10.1x 9.08x 12.1x 9.27x 8.31x 8.01x
EV / FCF 17.6x 6.83x 9.89x 40.7x 25.2x 14.7x 9.85x 9.41x
FCF Yield 5.68% 14.6% 10.1% 2.46% 3.96% 6.8% 10.2% 10.6%
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% 5.83% 6.95% 6.74%
EPS 2 0.306 0.628 0.432 0.376 0.251 0.4501 0.4945 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 5.457 5.457 5.457
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.96x3.32x4.81x5.91% 17.44B
13.99x3.47x6.62x5.12% 1,747B
12.66x1.76x5.9x3.69% 379B
8.15x0.63x3.89x6.46% 291B
8.18x0.9x3.93x3.41% 254B
8.18x1.05x4.37x4.65% 195B
5.89x1.75x2.8x7.64% 149B
3.46x1.56x2.94x11.1% 117B
7.26x0.83x2.02x3.94% 94.82B
8.66x0.82x4.05x4.72% 79.46B
Average 8.84x 1.61x 4.13x 5.66% 332.45B
Weighted average by Cap. 11.48x 2.40x 5.46x 5.2%

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

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