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Santos Valuation Multiples
Discover revenue and EBITDA valuation multiples for Santos and similar public comparables like Kansai Electric Power, EDP Renovaveis, Jereh Group, Power Assets Holdings and more.
Santos Overview
About Santos
Santos was founded in 1954. The company's name is an acronym for South Australia Northern Territory Oil Search. The first Cooper Basin gas discovery came in 1963, with initial supplies in 1969. Santos became a major enterprise, though over-reliance on the Cooper Basin, along with the Moomba field's inexorable decline, saw it struggle to maintain relevance in the first decade of the 21st century. However, the stage was set for a renaissance via conversion of coal seam gas into LNG in Queensland and conventional gas to LNG in PNG.
Founded
1954
HQ
Employees
4.0K
Website
Sectors
Financials (LTM)
EV
$24B
Santos Financials
Santos reported last 12-month revenue of $6B and EBITDA of $4B.
In the same LTM period, Santos generated $4B in gross profit, $4B in EBITDA, and $1B in net income.
Revenue (LTM)
Santos P&L
In the most recent fiscal year, Santos reported revenue of $5B and EBITDA of $3B.
Santos expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $6B | XXX | $5B | XXX | XXX | XXX |
| Gross Profit | $4B | XXX | $3B | XXX | XXX | XXX |
| Gross Margin | 72% | XXX | 70% | XXX | XXX | XXX |
| EBITDA | $4B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 70% | XXX | 68% | XXX | XXX | XXX |
| EBIT Margin | 37% | XXX | 31% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $818M | XXX | XXX | XXX |
| Net Margin | 22% | XXX | 17% | XXX | XXX | XXX |
| Net Debt | — | — | $4B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Santos Stock Performance
Santos has current market cap of $18B, and enterprise value of $24B.
Market Cap Evolution
Santos' stock price is $5.49.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $24B | $18B | -0.4% | XXX | XXX | XXX | $0.25 |
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Start Free TrialSantos Valuation Multiples
Santos trades at 4.2x EV/Revenue multiple, and 6.0x EV/EBITDA.
EV / Revenue (LTM)
Santos Financial Valuation Multiples
As of April 17, 2026, Santos has market cap of $18B and EV of $24B.
Equity research analysts estimate Santos' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Santos has a P/E ratio of 14.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $18B | XXX | $18B | XXX | XXX | XXX |
| EV (current) | $24B | XXX | $24B | XXX | XXX | XXX |
| EV/Revenue | 4.2x | XXX | 4.8x | XXX | XXX | XXX |
| EV/EBITDA | 6.0x | XXX | 7.1x | XXX | XXX | XXX |
| EV/EBIT | 11.2x | XXX | 15.5x | XXX | XXX | XXX |
| EV/Gross Profit | 5.9x | XXX | 6.9x | XXX | XXX | XXX |
| P/E | 14.7x | XXX | 21.8x | XXX | XXX | XXX |
| EV/FCF | 13.0x | XXX | 13.3x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Santos Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Santos Margins & Growth Rates
Santos' revenue in the last 12 month grew by 30%.
Santos' revenue per employee in the last FY averaged $1.2M, while opex per employee averaged $0.6M for the same period.
Santos' rule of 40 is 122% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Santos' rule of X is 194% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Santos Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 30% | XXX | 48% | XXX | XXX | XXX |
| EBITDA Margin | 70% | XXX | 68% | XXX | XXX | XXX |
| EBITDA Growth | 36% | XXX | 62% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 122% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 194% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 3% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 0% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 46% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Santos Public Comps
See public comps and valuation multiples for other Energy Production and Oil & Gas comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Santos | XXX | XXX | XXX | XXX | XXX | XXX |
| Kansai Electric Power | XXX | XXX | XXX | XXX | XXX | XXX |
| EDP Renovaveis | XXX | XXX | XXX | XXX | XXX | XXX |
| Jereh Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Power Assets Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| Tourmaline Oil | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Santos M&A Activity
Santos acquired XXX companies to date.
Last acquisition by Santos was on XXXXXXXX, XXXXX. Santos acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Santos
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialSantos Investment Activity
Santos invested in XXX companies to date.
Santos made its latest investment on XXXXXXXX, XXXXX. Santos invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Santos
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Santos
| When was Santos founded? | Santos was founded in 1954. |
| Where is Santos headquartered? | Santos is headquartered in Australia. |
| How many employees does Santos have? | As of today, Santos has over 4K employees. |
| Who is the CEO of Santos? | Santos' CEO is Kevin Thomas Gallagher. |
| Is Santos publicly listed? | Yes, Santos is a public company listed on Australian Securities Exchange. |
| What is the stock symbol of Santos? | Santos trades under STO ticker. |
| When did Santos go public? | Santos went public in 1954. |
| Who are competitors of Santos? | Santos main competitors are Kansai Electric Power, EDP Renovaveis, Jereh Group, Power Assets Holdings. |
| What is the current market cap of Santos? | Santos' current market cap is $18B. |
| What is the current revenue of Santos? | Santos' last 12 months revenue is $6B. |
| What is the current revenue growth of Santos? | Santos revenue growth (NTM/LTM) is 30%. |
| What is the current EV/Revenue multiple of Santos? | Current revenue multiple of Santos is 4.2x. |
| Is Santos profitable? | Yes, Santos is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Santos? | Santos' last 12 months EBITDA is $4B. |
| What is Santos' EBITDA margin? | Santos' last 12 months EBITDA margin is 70%. |
| What is the current EV/EBITDA multiple of Santos? | Current EBITDA multiple of Santos is 6.0x. |
| What is the current FCF of Santos? | Santos' last 12 months FCF is $2B. |
| What is Santos' FCF margin? | Santos' last 12 months FCF margin is 32%. |
| What is the current EV/FCF multiple of Santos? | Current FCF multiple of Santos is 13.0x. |
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