Santos Ltd (STO) - Net Assets

Latest as of June 2025: AU$15.71 Billion AUD

Based on the latest financial reports, Santos Ltd (STO) has net assets worth AU$15.71 Billion AUD as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (AU$29.88 Billion) and total liabilities (AU$14.17 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric	Value
Current Net Assets	AU$15.71 Billion
% of Total Assets	52.59%
Annual Growth Rate	8.13%
5-Year Change	114.99%
10-Year Change	109.17%
Growth Volatility	24.46

Santos Ltd - Net Assets Trend (1987–2024)

This chart illustrates how Santos Ltd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Santos Ltd (1987–2024)

The table below shows the annual net assets of Santos Ltd from 1987 to 2024.

Year	Net Assets	Change
2024-12-31	AU$15.54 Billion	+1.72%
2023-12-31	AU$15.28 Billion	+2.91%
2022-12-31	AU$14.84 Billion	+9.39%
2021-12-31	AU$13.57 Billion	+87.75%
2020-12-31	AU$7.23 Billion	-5.85%
2019-12-31	AU$7.68 Billion	+5.45%
2018-12-31	AU$7.28 Billion	+1.79%
2017-12-31	AU$7.15 Billion	+1.00%
2016-12-31	AU$7.08 Billion	-4.69%
2015-12-31	AU$7.43 Billion	-3.54%
2014-12-31	AU$7.70 Billion	-15.45%
2013-12-31	AU$9.11 Billion	-6.39%
2012-12-31	AU$9.73 Billion	+6.21%
2011-12-31	AU$9.16 Billion	+18.63%
2010-12-31	AU$7.72 Billion	+23.38%
2009-12-31	AU$6.26 Billion	+99.86%
2008-12-31	AU$3.13 Billion	+7.88%
2007-12-31	AU$2.90 Billion	+9.67%
2006-12-31	AU$2.65 Billion	+21.96%
2005-12-31	AU$2.17 Billion	-20.49%
2004-12-31	AU$2.73 Billion	+17.46%
2003-12-31	AU$2.32 Billion	+44.67%
2002-12-31	AU$1.61 Billion	+15.41%
2001-12-31	AU$1.39 Billion	+8.13%
2000-12-31	AU$1.29 Billion	+8.85%
1998-12-31	AU$1.18 Billion	-5.27%
1997-12-31	AU$1.25 Billion	+10.38%
1995-12-31	AU$1.13 Billion	-4.84%
1994-12-31	AU$1.19 Billion	+27.11%
1993-12-31	AU$935.07 Million	+10.31%
1992-12-31	AU$847.65 Million	-8.25%
1991-12-31	AU$923.83 Million	-13.27%
1990-12-31	AU$1.07 Billion	+20.14%
1989-12-31	AU$886.68 Million	+3.07%
1987-12-31	AU$860.30 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Santos Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 330.2% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	AU$1.09 Billion	7.00%
Common Stock	AU$14.35 Billion	92.33%
Other Comprehensive Income	AU$105.00 Million	0.68%
Total Equity	AU$15.54 Billion	100.00%

Santos Ltd Competitors by Market Cap

The table below lists competitors of Santos Ltd ranked by their market capitalization.

Company	Market Cap
TENARIS S.A. DL 1 F:TW10	$17.66 Billion
Fortum Oyj HE:FORTUM	$17.67 Billion
CK Asset Holdings Limited F:1CK	$17.68 Billion
RBC Bearings Incorporated NYSE:RBC	$17.69 Billion
STMicroelectronics N.V F:SGM	$17.57 Billion
FIBRA Prologis MX:FIBRAPL14	$17.55 Billion
Genmab AS NASDAQ:GMAB	$17.53 Billion
Sprott Physical Gold Trust TO:PHYS	$17.52 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Santos Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 15,275,000,000 to 15,537,000,000, a change of 262,000,000 (1.7%).
Net income of 1,224,000,000 contributed positively to equity growth.
Dividend payments of 991,000,000 reduced retained earnings.
Share repurchases of 15,000,000 reduced equity.
Other comprehensive income decreased equity by 433,000,000.
Other factors increased equity by 477,000,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	AU$1.22 Billion	+7.88%
Dividends Paid	AU$991.00 Million	-6.38%
Share Repurchases	AU$15.00 Million	-0.1%
Other Comprehensive Income	AU$-433.00 Million	-2.79%
Other Changes	AU$477.00 Million	+3.07%
Total Change	AU$-	1.72%

Book Value vs Market Value Analysis

This analysis compares Santos Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.61x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 2.65x to 1.61x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1987-12-31	AU$2.89	AU$7.65	x
1989-12-31	AU$2.05	AU$7.65	x
1990-12-31	AU$2.50	AU$7.65	x
1991-12-31	AU$2.09	AU$7.65	x
1992-12-31	AU$1.71	AU$7.65	x
1993-12-31	AU$1.85	AU$7.65	x
1994-12-31	AU$2.27	AU$7.65	x
1995-12-31	AU$2.11	AU$7.65	x
1996-12-31	AU$2.39	AU$7.65	x
1997-12-31	AU$2.12	AU$7.65	x
1998-12-31	AU$1.95	AU$7.65	x
1999-12-31	AU$2.22	AU$7.65	x
2000-12-31	AU$2.12	AU$7.65	x
2001-12-31	AU$2.27	AU$7.65	x
2002-12-31	AU$2.77	AU$7.65	x
2003-12-31	AU$3.98	AU$7.65	x
2004-12-31	AU$4.67	AU$7.65	x
2005-12-31	AU$3.49	AU$7.65	x
2006-12-31	AU$4.27	AU$7.65	x
2007-12-31	AU$4.90	AU$7.65	x
2008-12-31	AU$5.08	AU$7.65	x
2009-12-31	AU$7.66	AU$7.65	x
2010-12-31	AU$9.21	AU$7.65	x
2011-12-31	AU$10.28	AU$7.65	x
2012-12-31	AU$10.15	AU$7.65	x
2013-12-31	AU$9.38	AU$7.65	x
2014-12-31	AU$7.88	AU$7.65	x
2015-12-31	AU$6.45	AU$7.65	x
2016-12-31	AU$3.94	AU$7.65	x
2017-12-31	AU$3.44	AU$7.65	x
2018-12-31	AU$3.47	AU$7.65	x
2019-12-31	AU$3.66	AU$7.65	x
2020-12-31	AU$3.47	AU$7.65	x
2021-12-31	AU$6.31	AU$7.65	x
2022-12-31	AU$4.41	AU$7.65	x
2023-12-31	AU$4.66	AU$7.65	x
2024-12-31	AU$4.76	AU$7.65	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Santos Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 7.88%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 22.65%
• Asset Turnover: 0.18x
• Equity Multiplier: 1.91x
Recent ROE (7.88%) is above the historical average (6.13%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1987	-1.70%	0.00%	0.00x	3.11x	AU$-88.92 Million
1989	-0.16%	0.00%	0.00x	2.82x	AU$-83.24 Million
1990	-0.41%	0.00%	0.00x	2.29x	AU$-104.09 Million
1991	-0.23%	0.00%	0.00x	2.39x	AU$-91.17 Million
1996	12.35%	0.00%	0.00x	0.00x	AU$29.67 Million
1997	10.75%	0.00%	0.00x	2.10x	AU$9.30 Million
1998	9.09%	0.00%	0.00x	2.18x	AU$-10.74 Million
1999	15.03%	0.00%	0.00x	0.00x	AU$67.66 Million
2000	21.07%	18.11%	0.58x	2.02x	AU$142.43 Million
2001	16.35%	30.55%	0.29x	1.85x	AU$88.43 Million
2002	-0.87%	-1.65%	0.28x	1.86x	AU$-174.53 Million
2003	-0.37%	-0.78%	0.28x	1.69x	AU$-241.03 Million
2004	-1.07%	-2.45%	0.26x	1.70x	AU$-302.06 Million
2005	25.71%	30.75%	0.40x	2.09x	AU$341.00 Million
2006	23.11%	28.56%	0.39x	2.06x	AU$347.11 Million
2007	13.31%	17.80%	0.34x	2.21x	AU$96.06 Million
2008	36.00%	57.80%	0.28x	2.19x	AU$814.14 Million
2009	6.09%	18.90%	0.20x	1.63x	AU$-244.97 Million
2010	6.57%	21.54%	0.17x	1.81x	AU$-264.56 Million
2011	8.40%	28.75%	0.17x	1.76x	AU$-146.86 Million
2012	5.54%	15.79%	0.19x	1.82x	AU$-434.26 Million
2013	5.05%	14.17%	0.18x	2.02x	AU$-450.93 Million
2014	-9.93%	-23.16%	0.18x	2.37x	AU$-1.54 Billion
2015	-26.45%	-83.12%	0.15x	2.15x	AU$-2.71 Billion
2016	-14.79%	-40.36%	0.17x	2.16x	AU$-1.75 Billion
2017	-5.03%	-11.59%	0.23x	1.92x	AU$-1.08 Billion
2018	8.66%	17.21%	0.21x	2.35x	AU$-97.90 Million
2019	8.78%	16.71%	0.24x	2.15x	AU$-93.60 Million
2020	-4.94%	-10.54%	0.19x	2.44x	AU$-1.08 Billion
2021	4.85%	13.96%	0.15x	2.29x	AU$-698.84 Million
2022	14.23%	27.11%	0.27x	1.94x	AU$627.70 Million
2023	9.27%	24.04%	0.20x	1.95x	AU$-111.50 Million
2024	7.88%	22.65%	0.18x	1.91x	AU$-329.70 Million

Industry Comparison

This section compares Santos Ltd's net assets metrics with peer companies in the Oil & Gas E&P industry.

Industry Context

Industry: Oil & Gas E&P
Average net assets among peers: $81,915,682
Average return on equity (ROE) among peers: -276.98%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Santos Ltd (STO)	AU$15.71 Billion	-1.70%	0.90x	$17.58 Billion
88 Energy Ltd (88E)	$16.19 Million	-29.48%	0.03x	$18.83 Million
ADX Energy Ltd (ADX)	$1.75 Million	-43.66%	0.02x	$20.25 Million
Amplitude Energy Ltd (AEL)	$376.52 Million	-10.98%	2.12x	$370.26 Million
Australis Oil & Gas Ltd (ATS)	$221.65 Million	0.05%	0.22x	$22.60 Million
Bass Oil Ltd (BAS)	$6.55 Million	0.65%	0.73x	$13.11 Million
Blue Energy Ltd (BLU)	$68.25K	-2502.67%	0.02x	$12.79 Million
Blue Star Helium Ltd (BNL)	$10.43 Million	-125.30%	1.18x	$21.57 Million
Beach Energy Ltd (BPT)	$47.59 Million	6.02%	0.23x	$1.94 Billion
Brookside Energy Ltd (BRK)	$8.45 Million	-40.07%	0.25x	$41.25 Million
Buru Energy Ltd (BRU)	$129.97 Million	-24.35%	0.40x	$12.77 Million

About Santos Ltd

AU:STO Australia Oil & Gas E&P

Market Cap

$17.58 Billion

AU$24.85 Billion AUD

Market Cap Rank

#1281 Global

#22 in Australia

Share Price

AU$7.65

Change (1 day)

+0.00%

52-Week Range

AU$5.61 - AU$8.09

All Time High

AU$8.09