Woodside Energy Group Ltd WDS

EnergyOil & GasAustralia

Last close 22.85 USD on Nov 1, 2026, +58.9% year to date

Quant rating

Quant rating D Rank 102 of 113 in Energy

Growth D 97 of 113
Valuation C 68 of 113
Quality D 99 of 113
Revisions D 91 of 113
Momentum C 54 of 113

Wall Street consensus Hold (3.00)Average target 24.26 USD +6.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 44.5B
Enterprise value: 59.4B
52-week range: 14.58 – 25.18
3-year range: 11.50 – 25.18
Dividend yield: 4.93%
Beta (5 years): 0.55
Shares outstanding: 1,901M
Next earnings: Feb 23, 2027

About the company

Woodside Energy Group Ltd is a global energy company. Its segments include Australia, International, Marketing and Corporate. The Australia segment is engaged in the exploration, evaluation, development, production and sale of liquefied natural gas, pipeline gas, crude oil and condensate and natural gas liquids. International segment is engaged in the exploration, evaluation, development, production and sale of LPG, pipeline gas, crude oil and condensate and natural gas liquids in international jurisdictions outside of Australia. Marketing segment is engaged in the marketing, shipping and trading of its oil and gas portfolio. Its projects include Pluto LNG, North West Shelf Project, Woodside Solar, Scarborough Energy Project, Beaumont New Ammonia Project, Sangomar, and others. It holds an interest in Woodside Louisiana LNG, which is an under-construction LNG production and export terminal in Lake Charles, Louisiana. The Sangomar oil and gas is located 100 kilometers south of Dakar.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	12,984	13,179	13,994	16,817	6,962	–
Revenue growth	−1.5%	−5.8%	−16.8%	141.6%	93.4%	29.2%
EPS (basic, normalized)	–	–	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	34.9%	43.1%	46.3%	61.1%	44.8%	46.0%
Net margin	20.9%	27.1%	11.9%	38.6%	28.5%	25.4%
ROE	7.6%	10.2%	4.7%	26.1%	15.5%	12.8%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	12,984	−1.5%	4.6x	–	–	–	–	–	–
2026	16,690	+28.5%	3.6x	11,047	–	5.4x	1.89	–	12.1x
2027	16,487	−1.2%	3.6x	11,027	−0.2%	5.4x	1.91	+1.1%	12.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	16,690	–	–	–	1.89	–	–	–
2027	16,487	–	–	–	1.91	–	–	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	1,121	–	608	–	623	–	533	–	689
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Oil & Gas

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
WDS Woodside Energy Group Ltd	44.5B	–	20.9%	1.24x	12.1x	12.0x	5.4x	5.4x
COP ConocoPhillips	185.0B	0.62x	12.8%	2.83x	13.8x	14.8x	5.9x	6.2x
FANG Diamondback Energy, Inc.	59.4B	1.91x	11.0%	1.57x	9.6x	10.6x	5.7x	6.0x
DVN Devon Energy Corporation	57.4B	1.41x	15.4%	1.44x	9.5x	9.7x	5.2x	4.7x
EQT EQT Corporation	34.6B	1.68x	23.6%	1.36x	14.2x	15.1x	7.0x	6.6x
VG Venture Global, Inc.	37.0B	6.78x	16.4%	4.31x	8.8x	11.5x	8.7x	9.5x
Mean		2.48x	16.7%	2.13x	11.3x	12.3x	6.3x	6.4x
Median		1.68x	15.9%	1.50x	10.8x	11.7x	5.8x	6.1x

Technical analysis

1M+6.6%
3M+9.0%
1Y+56.1%
3Y+28.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Woodside Energy Group Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	12,984	13,179	13,994	16,817	6,962	3,600
Cost of revenue	8,448	7,501	7,519	6,540	3,845	2,985
Gross profit	4,536	5,678	6,475	10,277	3,117	615
Selling, general & administrative expenses	482	445	453	791	158	190
Research & development	179	320	279	296	54.0	67.0
Depreciation/amortization	202	239	183	150	141	135
Interest expense (income), operating	−341	319	50.0	960	–	–
Unusual expense (income)	−14.0	9.0	1,994	−736	−783	5,271
Other operating expenses	139	−168	209	−370	54.0	123
Operating income	3,889	4,514	3,307	9,186	3,493	−5,171
Net interest income (expense)	287	178	253	134	−148	−208
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−327	−323	−287	−146	−55.0	−61.0
Net income before taxes	3,849	4,369	3,273	9,174	3,290	−5,440
Provision for taxes	1,112	723	1,551	2,599	1,254	−1,465
Minority interest	−19.0	−73.0	−62.0	−77.0	−53.0	−53.0
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	2,718	3,573	1,660	6,498	1,983	−4,028
Extraordinary items	–	–	–	–	–	–
Net income	2,718	3,573	1,660	6,498	1,983	−4,028
EBIT, normalized	3,185	4,933	6,249	9,097	3,007	−339
EBITDA, normalized	8,452	9,716	10,388	12,045	4,697	1,485
Basic EPS, normalized	–	–	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Woodside Energy Group Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	5,941	4,108	1,949	6,866	3,345	3,776
Receivables	1,865	2,678	1,635	1,651	368	303
Total inventory	693	684	616	678	202	125
Prepaid expenses	–	–	–	–	–	–
Other current assets	123	93.0	918	95.0	363	48.0
Total current assets	8,622	7,563	5,118	9,290	4,278	4,252
Property, plant & equipment	48,773	44,648	42,689	41,990	20,343	18,495
Goodwill	3,952	3,866	3,995	4,614	–	–
Intangibles	901	960	–	–	–	–
Long-term investments	324	367	369	385	107	54.0
Note receivable	823	876	839	845	653	404
Other long-term assets	3,106	2,984	2,351	2,197	1,093	1,418
Total assets	66,501	61,264	55,361	59,321	26,474	24,623
Liabilities
Accounts payable	–	–	–	759	191	100
Payable/accrued	–	–	–	–	–	–
Accrued expenses	689	679	564	396	327	335
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	941	1,179	298	584	468	870
Other current liabilities	3,787	3,999	4,120	4,869	1,636	789
Total current liabilities	5,417	5,857	4,982	6,608	2,622	2,094
Long-term debt	12,781	10,441	6,200	6,188	6,329	6,622
Minority interest	3,929	754	771	791	786	800
Other liabilities	8,460	8,813	9,009	9,398	3,294	3,032
Total liabilities	30,587	25,865	20,962	22,985	13,031	12,548
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	29,036	29,001	29,001	29,001	9,409	9,297
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	5,977	5,660	4,564	7,165	3,671	2,079
Treasury stock	−82.0	−58.0	−49.0	−38.0	−30.0	−23.0
Other equity	983	796	883	208	393	722
Total equity	35,914	35,399	34,399	36,336	13,443	12,075
Total liabilities & shareholders' equity	66,501	61,264	55,361	59,321	26,474	24,623

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Woodside Energy Group Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	2,737	3,646	1,722	6,575	2,036	−3,975
Depreciation, depletion & amortization	5,245	4,762	4,139	2,948	1,690	1,824
Deferred taxes	–	–	–	–	–	–
Non-cash items	988	1,055	3,849	2,114	708	4,469
Changes in working capital	−1,778	−3,616	−3,565	−2,826	−642	−469
Cash from operations	7,192	5,847	6,145	8,811	3,792	1,849
Investing activities
Capital expenditures	−7,974	−4,902	−5,291	−3,136	−2,406	−1,418
Other investing cash flows	63.0	−845	−294	871	−535	−694
Cash from investing	−7,911	−5,747	−5,585	−2,265	−2,941	−2,112
Financing activities
Financing cash flow items	2,841	−117	−123	−270	−196	−218
Cash dividends paid	−2,012	−2,449	−4,253	−2,558	−289	−454
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	1,662	4,667	−624	−536	−939	469
Cash from financing	2,491	2,101	−5,000	−3,364	−1,424	−203
Foreign exchange effects	17.0	−18.0	−21.0	−6.0	−6.0	12.0
Net change in cash	1,789	2,183	−4,461	3,176	−579	−454
Free cash flow	−782	945	854	5,675	1,386	431

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.