Financials Woodside Energy Group Ltd

Equities

WDS

AU0000224040

Oil & Gas Exploration and Production

Market Closed - Australian S.E. Other stock markets 07:10:41 02/05/2024 BST			5-day change	1st Jan Change
27.17 ^AUD	-1.20%		-4.43%	-12.52%

03:22am	Australian shares rangebound after Fed warns of rate cut delays; Woolworths slumps	RE
05-01	Australian shares fall as miners and banks drag; Fed in focus	RE

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	22,726	16,834	15,438	45,846	40,162	33,915	-	-
Enterprise Value (EV) ¹	25,517	20,722	19,210	46,429	44,911	37,960	37,721	36,444
P/E ratio	65.7 x	-4.13 x	7.8 x	5.66 x	24.3 x	12.3 x	13.1 x	15.2 x
Yield	3.77%	2.17%	8.48%	-	6.62%	6.38%	5.77%	4.95%
Capitalization / Revenue	5.13 x	4.88 x	2.28 x	2.76 x	2.86 x	2.59 x	2.53 x	2.6 x
EV / Revenue	5.76 x	6 x	2.83 x	2.79 x	3.2 x	2.9 x	2.82 x	2.8 x
EV / EBITDA	7.23 x	10.8 x	4.65 x	4.13 x	4.8 x	4.18 x	4.15 x	4.37 x
EV / FCF	12.2 x	48.1 x	13.9 x	8.18 x	52.6 x	12.8 x	12 x	10.3 x
FCF Yield	8.2%	2.08%	7.22%	12.2%	1.9%	7.8%	8.32%	9.72%
Price to Book	1.37 x	1.39 x	1.15 x	1.26 x	1.17 x	0.96 x	0.95 x	0.94 x
Nbr of stocks (in thousands)	942,287	962,226	969,638	1,898,750	1,898,750	1,898,750	-	-
Reference price ²	24.12	17.50	15.92	24.15	21.15	17.86	17.86	17.86
Announcement Date	12/02/20	17/02/21	16/02/22	26/02/23	23/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	4,427	3,451	6,778	16,615	14,028	13,091	13,389	13,025
EBITDA ¹	3,531	1,922	4,135	11,234	9,363	9,092	9,082	8,343
EBIT ¹	1,811	-293	2,435	8,286	5,224	4,606	4,470	3,935
Operating Margin	40.91%	-8.49%	35.93%	49.87%	37.24%	35.18%	33.39%	30.21%
Earnings before Tax (EBT) ¹	862	-5,440	3,290	9,174	3,273	4,352	4,409	3,754
Net income ¹	343	-4,028	1,983	6,498	1,660	2,709	2,493	2,055
Net margin	7.75%	-116.72%	29.26%	39.11%	11.83%	20.69%	18.62%	15.78%
EPS ²	0.3670	-4.235	2.041	4.263	0.8690	1.448	1.364	1.175
Free Cash Flow ¹	2,092	431	1,386	5,675	854	2,962	3,136	3,543
FCF margin	47.26%	12.49%	20.45%	34.16%	6.09%	22.62%	23.43%	27.2%
FCF Conversion (EBITDA)	59.25%	22.42%	33.52%	50.52%	9.12%	32.57%	34.53%	42.46%
FCF Conversion (Net income)	609.91%	-	69.89%	87.33%	51.45%	109.34%	125.79%	172.41%
Dividend per Share ²	0.9100	0.3800	1.350	-	1.400	1.140	1.031	0.8844
Announcement Date	12/02/20	17/02/21	16/02/22	26/02/23	23/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2021 S1	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1	2024 Q2	2024 S1	2024 Q3	2024 Q4	2024 S2	2025 Q1	2025 S1	2025 S2
Net sales	2,468	1,907	2,504	-	2,355	3,389	5,748	5,504	5,160	11,018	4,330	3,084	7,414	3,259	3,355	6,614	-	-	-	-	-	-	-	-	-
EBITDA	2,069	1,421	1,496	-	-	-	-	-	-	-	-	-	4,888	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	1,112	474	621	-	-	-	-	-	-	5,304	-	-	2,791	-	-	2,433	-	-	1,869	-	-	2,047	-	2,042	1,911
Operating Margin	45.06%	24.86%	24.8%	-	-	-	-	-	-	48.14%	-	-	37.64%	-	-	36.79%	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	503	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	-	-4,067	317	1,666	-	-	1,640	-	-	4,858	-	-	1,740	-	-	-	698.9	686.5	1,385	713.6	704.5	1,418	695.5	1,335	1,262
Net margin	-	-213.27%	12.66%	-	-	-	28.53%	-	-	44.09%	-	-	23.47%	-	-	-	-	-	-	-	-	-	-	-	-
EPS ²	-0.0810	-	0.3330	-	-	-	1.440	-	-	-	-	-	-	-	-	-	0.3680	0.3620	0.7150	0.3760	0.3710	0.8185	0.3660	0.7265	0.6975
Dividend per Share ²	-	0.2600	0.3000	-	-	-	-	-	-	-	-	-	0.8000	-	-	-	0.2940	0.2890	0.5840	0.3010	0.2970	0.5970	0.2930	0.5620	0.5320
Announcement Date	12/02/20	12/08/20	17/08/21	16/02/22	26/04/22	29/08/22	29/08/22	26/02/23	26/02/23	26/02/23	21/04/23	21/08/23	21/08/23	23/10/23	23/01/24	23/01/24	-	-	-	-	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	2,791	3,888	3,772	583	4,749	4,045	3,806	2,529
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.7904 x	2.023 x	0.9122 x	0.0519 x	0.5072 x	0.4449 x	0.419 x	0.3031 x
Free Cash Flow ¹	2,092	431	1,386	5,675	854	2,962	3,136	3,543
ROE (net income / shareholders' equity)	6.23%	3.12%	12.7%	26.1%	9.39%	7.54%	6.67%	5.7%
ROA (Net income/ Total Assets)	3.77%	1.66%	7.76%	15.1%	5.79%	6.08%	5.82%	5.2%
Assets ¹	9,106	-243,193	25,548	42,898	28,671	44,564	42,862	39,528
Book Value Per Share ²	17.60	12.50	13.90	19.10	18.10	18.50	18.80	19.00
Cash Flow per Share ²	3.530	1.940	3.900	5.780	3.220	3.460	3.450	3.470
Capex ¹	1,213	1,418	2,406	3,136	5,701	5,344	3,984	2,996
Capex / Sales	27.4%	41.09%	35.5%	18.87%	40.64%	40.82%	29.76%	23%
Announcement Date	12/02/20	17/02/21	16/02/22	26/02/23	23/01/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Woodside Energy Group Ltd

Trading Rating

Investor Rating

ESG Refinitiv

A-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

17.86 USD

Average target price

21.24 USD

Spread / Average Target

+18.89%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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