Santos Ltd (STO) — Capital Reinvestment Ratio
Latest as of December 2025:
0.83x
Santos Ltd (STO) has a Capital Reinvestment Ratio of 0.83x as of December 2025, meaning it reinvests 1% of its operating cash flow (AU$1.12 Billion) in capital expenditures (AU$930.22 Million). See Santos Ltd (STO) free cash flow to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
0.83x
Capex / Operating Cash Flow
Operating Cash Flow
AU$1.12 Billion
AUD
Capital Expenditures
AU$930.22 Million
AUD
Data as of
Dec 2025
Most recent filing
Santos Ltd Capital Reinvestment Ratio (1991–2025)
This chart tracks Santos Ltd's Capital Reinvestment Ratio across 35 annual periods.
Annual Capital Reinvestment Ratio for Santos Ltd (1991–2025)
Year-by-year Capital Reinvestment Ratio for Santos Ltd from 1991 to 2025. For live market cap and broader valuation context, see STO market cap.
| Year | Reinvestment Ratio | Operating CF (AUD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.76x | AU$2.65 Billion | AU$2.00 Billion | ▼ -10.1% |
| 2024 | 0.84x | AU$2.85 Billion | AU$2.40 Billion | ▲ +15.9% |
| 2023 | 0.73x | AU$3.26 Billion | AU$2.37 Billion | ▲ +64.4% |
| 2022 | 0.44x | AU$3.86 Billion | AU$1.71 Billion | ▼ -8.9% |
| 2021 | 0.49x | AU$2.27 Billion | AU$1.10 Billion | ▲ +285.2% |
| 2020 | 0.13x | AU$1.48 Billion | AU$186.00 Million | ▼ -0.1% |
| 2019 | 0.13x | AU$2.05 Billion | AU$258.00 Million | ▲ +271.0% |
| 2018 | 0.03x | AU$2.24 Billion | AU$76.00 Million | ▼ -94.9% |
| 2017 | 0.67x | AU$1.02 Billion | AU$683.00 Million | ▲ +31.1% |
| 2016 | 0.51x | AU$1.31 Billion | AU$667.00 Million | ▼ -68.7% |
| 2015 | 1.62x | AU$899.59 Million | AU$1.46 Billion | ▼ -9.9% |
| 2014 | 1.80x | AU$1.53 Billion | AU$2.76 Billion | ▼ -38.6% |
| 2013 | 2.93x | AU$1.29 Billion | AU$3.78 Billion | ▲ +61.3% |
| 2012 | 1.82x | AU$1.77 Billion | AU$3.22 Billion | ▲ +7.0% |
| 2011 | 1.70x | AU$1.30 Billion | AU$2.21 Billion | ▲ +23.6% |
| 2010 | 1.38x | AU$1.25 Billion | AU$1.73 Billion | ▼ -1.2% |
| 2009 | 1.39x | AU$1.11 Billion | AU$1.54 Billion | ▲ +82.1% |
| 2008 | 0.76x | AU$1.44 Billion | AU$1.10 Billion | ▼ -30.0% |
| 2007 | 1.09x | AU$1.06 Billion | AU$1.16 Billion | ▲ +33.0% |
| 2006 | 0.82x | AU$1.22 Billion | AU$999.21 Million | ▲ +15.5% |
| 2005 | 0.71x | AU$1.10 Billion | AU$778.79 Million | ▼ -46.7% |
| 2004 | 1.33x | AU$475.77 Million | AU$634.66 Million | ▲ +59.4% |
| 2003 | 0.84x | AU$681.77 Million | AU$570.66 Million | ▼ -3.0% |
| 2002 | 0.86x | AU$450.90 Million | AU$388.89 Million | ▼ -22.9% |
| 2001 | 1.12x | AU$315.98 Million | AU$353.54 Million | ▲ +75.8% |
| 2000 | 0.64x | AU$607.29 Million | AU$386.50 Million | ▼ -21.9% |
| 1999 | 0.81x | AU$339.78 Million | AU$276.86 Million | ▲ +92.3% |
| 1998 | 0.42x | AU$268.69 Million | AU$113.85 Million | ▼ -5.4% |
| 1997 | 0.45x | AU$284.94 Million | AU$127.63 Million | ▼ -46.0% |
| 1996 | 0.83x | AU$341.96 Million | AU$283.41 Million | ▲ +51.5% |
| 1995 | 0.55x | AU$266.78 Million | AU$145.90 Million | ▼ -22.2% |
| 1994 | 0.70x | AU$285.00 Million | AU$200.44 Million | ▲ +6.9% |
| 1993 | 0.66x | AU$286.26 Million | AU$188.29 Million | ▲ +27.6% |
| 1992 | 0.52x | AU$257.86 Million | AU$132.96 Million | ▼ -19.5% |
| 1991 | 0.64x | AU$242.28 Million | AU$155.10 Million | — |
Capital Reinvestment Ratio = ABS(Capital Expenditures) / Operating Cash Flow