Break even costs aren't simular. STO has higher sustaining CAPEX, higher OPEX, buys 3rd party gas as an extra cost.
EBITDA for WPL is 2 times STO in 2017, but it's not a perfect metric. Above I've mentioned the main causes of these differences.
STO boosted earnings by a 1B impairment (reducing tax), improving its net debt by $800m in 2017, should have been 500m without impairment, 90% of CAPEX was sustaining production, so around 560m underlying cashflow + growth investment.
WPL was at around $2b using the same metric, about half invested into Wheatstone plus GE (growth) the other half returned to holders via dividends.
Break even costs aren't simular. STO has higher sustaining...
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Last
$29.23 |
Change
-0.220(0.75%) |
Mkt cap ! $55.27B | |||
| Open | High | Low | Value | Volume |
| $29.04 | $29.86 | $28.55 | $205.8M | 7.028M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 583 | $29.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.24 | 691 | 9 |
View Market Depth
| Last trade - 14.08pm 19/04/2024 (20 minute delay) ? |
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Last
$29.32 |
Change
-0.220 ( 0.61 %) |
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| Open | High | Low | Volume | ||
| $29.02 | $29.85 | $28.55 | 619878 | ||
| Last updated 14.28pm 19/04/2024 ? | |||||
| WDS (ASX) Chart |