Company Valuation: Santos Limited

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 15,506 16,030 16,778 13,392 13,334 17,644 - -
Change - 3.38% 4.67% -20.18% -0.43% 32.33% - -
Enterprise Value (EV) 1 20,579 19,480 21,042 18,283 19,098 21,953 21,474 21,067
Change - -5.34% 8.02% -13.11% 4.46% 14.95% -2.18% -1.89%
P/E ratio 15x 7.73x 12x 11x 16.4x 8.99x 9.32x 9.67x
PBR 1.14x 1.08x 1.1x 0.87x 0.85x 1.04x 1.03x 1.02x
PEG - 0x -0.4x -0.8x -0.5x 0x -2.58x -2.72x
Capitalization / Revenue 3.29x 2.06x 2.85x 2.49x 2.7x 2.46x 2.43x 2.5x
EV / Revenue 4.37x 2.5x 3.57x 3.4x 3.87x 3.06x 2.96x 2.99x
EV / EBITDA 7.68x 3.54x 5.26x 5.03x 5.71x 4.28x 4.11x 4.23x
EV / EBIT 14.3x 5.19x 10.1x 9.08x 12.1x 7.08x 7.08x 7.42x
EV / FCF 17.6x 6.83x 9.89x 40.7x 25.2x 11.8x 8.76x 9.17x
FCF Yield 5.68% 14.6% 10.1% 2.46% 3.96% 8.49% 11.4% 10.9%
Dividend per Share 2 0.14 0.151 0.262 0.233 0.237 0.3664 0.4134 0.385
Rate of return 3.05% 3.11% 5.06% 5.64% 5.76% 6.73% 7.59% 7.07%
EPS 2 0.306 0.628 0.432 0.376 0.251 0.6059 0.584 0.5633
Distribution rate 45.8% 24% 60.6% 62% 94.4% 60.5% 70.8% 68.4%
Net sales 1 4,713 7,790 5,889 5,381 4,939 7,184 7,248 7,047
EBITDA 1 2,679 5,498 3,997 3,637 3,342 5,129 5,225 4,981
EBIT 1 1,436 3,751 2,075 2,013 1,574 3,102 3,035 2,840
Net income 1 658 2,112 1,416 1,224 818 1,926 1,884 1,809
Net Debt 1 5,073 3,450 4,264 4,891 5,764 4,309 3,829 3,423
Reference price 2 4.588 4.853 5.181 4.134 4.116 5.445 5.445 5.445
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 ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
8.99x3.06x4.31x6.73% 17.64B
14.17x3.54x6.61x5.11% 1,754B
13.45x1.71x5.68x3.93% 359B
8.63x0.63x4.07x5.86% 293B
8.02x0.84x4.07x3.61% 237B
7.55x1.05x4x4.55% 190B
6.51x1.83x2.94x6.89% 166B
4.25x1.61x3.16x12.53% 127B
7.43x0.81x1.9x4.3% 91.32B
9.11x0.74x3.82x4.81% 78.83B
Average 8.81x 1.58x 4.06x 5.83% 331.45B
Weighted average by Cap. 11.68x 2.44x 5.43x 5.26%

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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