Santos Ltd (STO) — Tangible Net Worth Ratio
Santos Ltd (STO) has a Tangible Net Worth Ratio of 99.6% as of December 2025. This metric is calculated by deducting intangible assets (AU$59.04 Million) from net assets (AU$15.68 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Santos Ltd working capital to net assets to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Santos Ltd Tangible Net Worth Ratio (1987–2025)
This chart shows how Santos Ltd's Tangible Net Worth Ratio has changed across 36 annual periods from 1987 to 2025. As of December 2025, the ratio stands at 99.6%, reflecting net assets of AU$15.68 Billion with intangible assets of AU$59.04 Million AUD. See Santos Ltd (STO) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Santos Ltd (1987–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Santos Ltd from 1987 to 2025, covering 36 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see Santos Ltd stock valuation.
| Year | Tangible NW Ratio | Net Assets (AUD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 99.6% | AU$15.68 Billion | AU$59.04 Million | AU$32.05 Billion | ▼ -0.3 pp |
| 2024 | 99.9% | AU$15.54 Billion | AU$15.00 Million | AU$29.63 Billion | ▼ -0.1 pp |
| 2023 | 100.0% | AU$15.28 Billion | AU$1.00 Million | AU$29.76 Billion | ▲ +11.8 pp |
| 2022 | 88.2% | AU$14.84 Billion | AU$1.75 Billion | AU$28.86 Billion | ▼ -1.1 pp |
| 2021 | 89.3% | AU$13.57 Billion | AU$1.46 Billion | AU$31.02 Billion | ▼ -3.9 pp |
| 2020 | 93.1% | AU$7.23 Billion | AU$496.34 Million | AU$17.66 Billion | ▲ +2.0 pp |
| 2019 | 91.1% | AU$7.68 Billion | AU$684.26 Million | AU$16.51 Billion | ▲ +0.5 pp |
| 2018 | 90.6% | AU$7.28 Billion | AU$683.24 Million | AU$17.13 Billion | ▼ -9.4 pp |
| 2017 | 100.0% | AU$7.15 Billion | AU$0.00 | AU$13.71 Billion | ▲ +0.0 pp |
| 2016 | 100.0% | AU$7.08 Billion | AU$0.00 | AU$15.26 Billion | ▲ +0.0 pp |
| 2015 | 100.0% | AU$7.43 Billion | AU$0.00 | AU$15.96 Billion | ▲ +6.7 pp |
| 2014 | 93.3% | AU$7.70 Billion | AU$517.88 Million | AU$18.28 Billion | ▲ +1.0 pp |
| 2013 | 92.2% | AU$9.11 Billion | AU$707.25 Million | AU$18.38 Billion | ▼ -2.3 pp |
| 2012 | 94.5% | AU$9.73 Billion | AU$533.99 Million | AU$17.70 Billion | ▲ +4.5 pp |
| 2011 | 90.0% | AU$9.16 Billion | AU$918.78 Million | AU$16.16 Billion | ▼ -10.0 pp |
| 2010 | 100.0% | AU$7.72 Billion | AU$0.00 | AU$13.98 Billion | ▲ +0.0 pp |
| 2009 | 100.0% | AU$6.26 Billion | AU$0.00 | AU$10.21 Billion | ▲ +13.0 pp |
| 2008 | 87.0% | AU$3.13 Billion | AU$406.68 Million | AU$6.85 Billion | ▼ -13.0 pp |
| 2007 | 100.0% | AU$2.90 Billion | AU$0.00 | AU$6.42 Billion | ▲ +0.0 pp |
| 2006 | 100.0% | AU$2.65 Billion | AU$0.00 | AU$5.45 Billion | ▲ +0.0 pp |
| 2005 | 100.0% | AU$2.17 Billion | AU$0.00 | AU$4.53 Billion | ▲ +0.1 pp |
| 2004 | 99.9% | AU$2.73 Billion | AU$4.00 Million | AU$4.65 Billion | ▲ +0.1 pp |
| 2003 | 99.7% | AU$2.32 Billion | AU$6.40 Million | AU$3.93 Billion | ▲ +0.3 pp |
| 2002 | 99.4% | AU$1.61 Billion | AU$9.81 Million | AU$2.98 Billion | ▲ +0.4 pp |
| 2001 | 99.0% | AU$1.39 Billion | AU$13.53 Million | AU$2.58 Billion | ▲ +0.6 pp |
| 2000 | 98.5% | AU$1.29 Billion | AU$19.83 Million | AU$2.60 Billion | ▲ +1.2 pp |
| 1998 | 97.2% | AU$1.18 Billion | AU$32.69 Million | AU$2.58 Billion | ▲ +0.5 pp |
| 1997 | 96.7% | AU$1.25 Billion | AU$40.72 Million | AU$2.63 Billion | ▼ -3.3 pp |
| 1995 | 100.0% | AU$1.13 Billion | AU$0.00 | AU$2.17 Billion | ▲ +0.0 pp |
| 1994 | 100.0% | AU$1.19 Billion | AU$0.00 | AU$2.25 Billion | ▲ +0.0 pp |
| 1993 | 100.0% | AU$935.07 Million | AU$0.00 | AU$1.92 Billion | ▲ +0.0 pp |
| 1992 | 100.0% | AU$847.65 Million | AU$0.00 | AU$1.95 Billion | ▲ +0.0 pp |
| 1991 | 100.0% | AU$923.83 Million | AU$0.00 | AU$2.13 Billion | ▲ +0.0 pp |
| 1990 | 100.0% | AU$1.07 Billion | AU$0.00 | AU$2.29 Billion | ▲ +0.0 pp |
| 1989 | 100.0% | AU$886.68 Million | AU$0.00 | AU$2.31 Billion | ▲ +0.0 pp |
| 1987 | 100.0% | AU$860.30 Million | AU$0.00 | AU$2.37 Billion | — |