Santos Ltd (STO) — Capital Reinvestment Ratio
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). Check Santos Ltd (STO) tangible net worth to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Santos Ltd Capital Reinvestment Ratio (1991–2025)
This chart tracks Santos Ltd's Capital Reinvestment Ratio across 35 annual periods. For the full cash flow conversion analysis, see STO cash flow metrics.
Annual Capital Reinvestment Ratio for Santos Ltd (1991–2025)
Year-by-year Capital Reinvestment Ratio for Santos Ltd from 1991 to 2025. See cash generation quality of Santos Ltd to measure how efficiently the company converts operating cash flow to free cash.
| 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 | — |