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TotalEnergies (TTE) USD

At a glance: strengths & risks
✓Revenue growing (+28% y/y, Q2 2026)✓Profit growing (+102% y/y, Q2 2026)

Sector: Integrated oil & gas

COMM_TTE

Price chart

84.58 USDDay -1.08%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
84.58 USD · -1.08%
Market cap
190.1 bn USD

Growth

Δ revenue y/y
27.8%
Δ EBITDA y/y
38.9%

Multiples

P/E (LTM)
10.7x
3y avg: 8.6x
P/B (FY)
1.7x
P/E (ann.)
8.7x
EV/EBITDA (LTM)
5.4x
3y avg: 4.6x
EV/EBITDA (ann.)
5.3x

Cash return

Dividend yield
3.5%
FCF yield (LTM)
3.6%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-5.7%
↓ details

Liquidity

Daily turnover (listing)
151.2 mln USD

Shares: yahoo_fundamentals_timeseries/TTE

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK57.1
y/y 27.8%
7.6
y/y 75.1%
3.1
y/y -7.8%
10.7
y/y 38.9%
5.4
y/y 102.4%
10.9-4.2313.8
y/y 7.2%
128.4
y/y 10.1%
17.3%35.0Yahoo Finance
2026-03-31Q1 2026 (3M)OK49.5
y/y —
10.2
y/y —
4.1
y/y —
14.3
y/y —
5.8
y/y —
3.4-4.6314.6
y/y —
122.5
y/y —
19.6%38.3Yahoo Finance
2025-12-31Q4 2025 (3M)PARTIAL45.9
y/y —
3.5
y/y —
4.0
y/y —
7.5
y/y —
2.9
y/y —
10.5-4.2291.1
y/y 2.0%
114.9
y/y -2.5%
11.6%40.3Yahoo Finance
2025-09-30Q3 2025 (3M)OK43.8
y/y —
5.7
y/y —
3.4
y/y —
9.1
y/y —
3.7
y/y —
8.3-3.8292.0
y/y —
115.3
y/y —
4.2%40.0Yahoo Finance
2025-06-30Q2 2025 (3M)OK44.7
y/y —
4.3
y/y —
3.4
y/y —
7.7
y/y —
2.7
y/y —
6.0-4.8292.8
y/y —
116.6
y/y —
9.2%41.8Yahoo Finance
2024-12-31FY 2024 (12M)PARTIAL214.6
y/y -9.5%
24.1
y/y -21.9%
13.1
y/y -5.1%
37.2
y/y -16.7%
16.0
y/y -25.5%
30.9-17.3285.5
y/y 0.6%
117.9
y/y 0.9%
13.7%32.1Yahoo Finance
2023-12-31FY 2023 (12M)PARTIAL237.1
y/y —
30.9
y/y —
13.8
y/y —
44.7
y/y —
21.5
y/y —
40.7-17.7283.7
y/y —
116.8
y/y —
—25.1Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)13 183
Long-term debt (incl. LT leases)49 525
− Cash & equivalents27 678
Net debt35 030

Net debt / LTM EBITDA: 0.8x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

050 000100 000150 000200 000250 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-20%0%20%40%2023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-10 000010 00020 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

010 00020 00030 00040 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.93x of reported net profit; after capex, 1.29x.
year20212022202320242025
cash flow / profit1.86x2.25x1.89x1.93x2.05x
accruals, % of assets-4.8%-8.7%-6.8%-5.2%-4.8%
Last twelve months (to 2025-Q3): 1.85x of profit came back as operating cash flow.
net debt / EBITDA 1.0x · capex 0.6x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodProduction
boe/d
Q2 2026-062 395 000
−4.3%
H1 2026-062 474 000
−2.3%
Q1 2026-032 553 000
Q2 2025-062 503 000
H1 2025-062 531 000

Company reports (PLR coverage review 2026-10-01), extracted with DeepSeek and every number checked against the document text: https://totalenergies.com/system/files/documents/totalenergies_pr-results-2q26_2026_en.pdf

Key-commodity price — Brent

Current 100spot vs LTM +30%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -5.7% ▲ +0.6 pp 1d

Main driver: Brent +30% vs LTM; revenue ×1.10 vs costs ×1.04; EBITDA 41 934→46 418; at 4.6× EV/EBITDA → -6%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+12%99.6976.5180.81+30%+6%
Nat. gas in Europe (Dutch TTF) (rev)+3%871.69443.18476.91+97%+8%
US Crack Spread (oil refining) (rev)+3%65.1630.5930.87+113%+1%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue196 382
LTM EBITDA41 934
LTM cash costs (revenue − EBITDA)154 448
2 · Revenue projection
Revenue multiplier — spot×1.099 (+10%)
= Spot revenue215 878
Revenue multiplier — 3y price×1.009 (+1%)
= 3-year-price revenue198 211
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs160 626
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs160 626
4 · EBITDA projection (revenue − costs)
= Spot EBITDA55 252
= 3-year-price EBITDA37 585
Conservative EBITDA = min(spot, avg)46 418
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct, realized earnings)4.6x
Target EV = EV/EBITDA × conservative EBITDA212 132
Net debt35 030
Target market cap = EV − net debt181 235
Current market cap192 185

Upside = target market cap ÷ current − 1 = -5.7%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 FY237 128268 356-11.6%44 67537 521+19.1%
2024 FY214 550233 521-8.1%42 27733 349+26.8%
2025 FY201 196211 270-4.8%38 85432 106+21.0%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth -6% vs -10% the year before — a +3.3 pp move. 3-year CAGR -11%.
revenue growth by year: 2023 -16% · 2024 -10% · 2025 -6%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 6.2x · target 75th pct (3y) 5.4x · LTM avg 4.6x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: Integrated oil & gas. Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
OMVglobal26.04.1x
YPFglobal19.64.1x
Shellglobal282.75.1x
Ecopetrolglobal33.95.3x
Eniglobal82.110.1x
Group median5.1x
Group average5.8x
This companyglobal192.25.4x

Group median 5.1x; this company 5.4x — a 5% premium.

Group average 5.8x; against the average this company is at a 6% discount.

At the adjusted group median the market cap would be -6% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 22.2x, Russia 3.8x, South Africa 5.1x, Kazakhstan 6.6x, India 18.5x, Indonesia 4.8x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-01; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-301.021 USDEx-dividend: 1.021 USD per sharePaidYahoo Finance (ex-div)
2026-03-310.974 USDEx-dividend: 0.974 USD per sharePaidYahoo Finance (ex-div)
2025-12-310.995 USDEx-dividend: 0.995 USD per sharePaidYahoo Finance (ex-div)
2025-09-300.994 USDEx-dividend: 0.994 USD per sharePaidYahoo Finance (ex-div)
2025-06-180.999 USDEx-dividend: 0.999 USD per sharePaidYahoo Finance (ex-div)
2025-03-250.831 USDEx-dividend: 0.831 USD per sharePaidYahoo Finance (ex-div)
2024-12-310.831 USDEx-dividend: 0.831 USD per sharePaidYahoo Finance (ex-div)
2024-09-240.874 USDEx-dividend: 0.874 USD per sharePaidYahoo Finance (ex-div)
2024-06-180.858 USDEx-dividend: 0.858 USD per sharePaidYahoo Finance (ex-div)
2024-03-180.81 USDEx-dividend: 0.81 USD per sharePaidYahoo Finance (ex-div)
2023-12-280.809 USDEx-dividend: 0.809 USD per sharePaidYahoo Finance (ex-div)
2023-09-150.806 USDEx-dividend: 0.806 USD per sharePaidYahoo Finance (ex-div)
2023-06-160.793 USDEx-dividend: 0.793 USD per sharePaidYahoo Finance (ex-div)
2023-03-200.737 USDEx-dividend: 0.737 USD per sharePaidYahoo Finance (ex-div)
2022-12-290.719 USDEx-dividend: 0.719 USD per sharePaidYahoo Finance (ex-div)
2022-12-021.06 USDEx-dividend: 1.06 USD per sharePaidYahoo Finance (ex-div)
2022-09-190.687 USDEx-dividend: 0.687 USD per sharePaidYahoo Finance (ex-div)
2022-06-160.693 USDEx-dividend: 0.693 USD per sharePaidYahoo Finance (ex-div)
2022-03-180.739 USDEx-dividend: 0.739 USD per sharePaidYahoo Finance (ex-div)
2021-12-300.748 USDEx-dividend: 0.748 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of TotalEnergies (TTE) — from primary filings.

Frequently asked questions

What is TotalEnergies (TTE)'s P/E ratio?
TotalEnergies (TTE) trades at a P/E of 10.7x (price to trailing 12-month earnings).
What is TotalEnergies (TTE)'s EV/EBITDA?
TotalEnergies (TTE) trades at 5.4x EV/EBITDA.
What is TotalEnergies (TTE)'s P/B ratio?
TotalEnergies (TTE) trades at a P/B of 1.7x.
What is TotalEnergies (TTE)'s dividend yield?
TotalEnergies (TTE)'s trailing 12-month dividend yield is 3.5%.
What is TotalEnergies (TTE)'s return on equity (ROE)?
TotalEnergies (TTE)'s ROE is 17.3%.
What is TotalEnergies (TTE)'s market capitalization?
TotalEnergies (TTE)'s market cap is 190.1 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map