Sector: Integrated oil & gas
COMM_TTE
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.
Shares: yahoo_fundamentals_timeseries/TTE
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.
| Date | Period | Status | RevenueB USD | Operating profitB USD | D&AB USD | EBITDAB USD | Net profitB USD | Operating CFB USD | Capex + M&AB USD | AssetsB USD | EquityB USD | ROE (annualized) | Net debtB USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | Q2 2026 (3M) | OK | 57.1 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 | -3.3 | 313.8 y/y 7.2% | 128.4 y/y 10.1% | 17.3% | 35.0 | Yahoo Finance |
| 2026-03-31 | Q1 2026 (3M) | OK | 49.5 y/y — | 10.2 y/y — | 4.1 y/y — | 14.3 y/y — | 5.8 y/y — | 3.4 | -4.3 | 314.6 y/y — | 122.5 y/y — | 19.6% | 38.3 | Yahoo Finance |
| 2025-12-31 | Q4 2025 (3M) | PARTIAL | 45.9 y/y — | 3.5 y/y — | 4.0 y/y — | 7.5 y/y — | 2.9 y/y — | 10.5 | -3.4 | 291.1 y/y 2.0% | 114.9 y/y -2.5% | 11.6% | ≈ 40.0 | Yahoo Finance |
| 2025-09-30 | Q3 2025 (3M) | OK | 43.8 y/y — | 5.7 y/y — | 3.4 y/y — | 9.1 y/y — | 3.7 y/y — | 8.3 | -3.2 | 292.0 y/y — | 115.3 y/y — | 4.2% | 40.0 | Yahoo Finance |
| 2025-06-30 | Q2 2025 (3M) | OK | 44.7 y/y — | 4.3 y/y — | 3.4 y/y — | 7.7 y/y — | 2.7 y/y — | 6.0 | -6.7 | 292.8 y/y — | 116.6 y/y — | 9.2% | 41.8 | Yahoo Finance |
| 2024-12-31 | FY 2024 (12M) | PARTIAL | 214.6 y/y -9.5% | — y/y — | 13.1 y/y -5.1% | 42.3 y/y -16.7% | 16.0 y/y -25.5% | 30.9 | — | 285.5 y/y 0.6% | 117.9 y/y 0.9% | 13.7% | — | Yahoo Finance |
| 2023-12-31 | FY 2023 (12M) | PARTIAL | 237.1 y/y — | — y/y — | 13.8 y/y — | 50.8 y/y — | 21.5 y/y — | 40.7 | — | 283.7 y/y — | 116.8 y/y — | — | — | Yahoo Finance |
| Short-term debt (incl. ST leases) | 13 183 |
| Long-term debt (incl. LT leases) | 49 525 |
| − Cash & equivalents | 27 678 |
| Net debt | 35 030 |
|---|
Net debt / LTM EBITDA: 0.8x
Quarterly values ($ mln)
Year-over-year change
FCF ($ mln)
Net debt / cash ($ mln)
Our earnings breakdowns and investment notes on this issuer.
Current 98spot vs LTM +27%
Target market cap from conservative EBITDA and the historical EV/EBITDA
Upside: +4.3% ▼ -0.0 pp 1d
Main driver: Brent +28% vs LTM; revenue ×1.10 vs costs ×1.04; EBITDA 46 564→50 970; at 4.5× EV/EBITDA → +4%.
Product prices — moves vs the LTM average
| Commodity | Share | Spot | LTM | 3-yr | vs LTM, $ | 3y vs LTM |
|---|---|---|---|---|---|---|
| Brent (rev) | +12% | 97.64 | 76.51 | 80.81 | +28% | +6% |
| Nat. gas in Europe (Dutch TTF) (rev) | +3% | 859.94 | 443.18 | 476.47 | +94% | +8% |
| US Crack Spread (oil refining) (rev) | +3% | 66.60 | 30.59 | 30.84 | +118% | +1% |
How it is calculated — revenue → costs → EBITDA → target market cap
| 1 · Reported baseline (LTM) | |
| LTM revenue | 196 382 |
| LTM EBITDA | 46 564 |
| LTM cash costs (revenue − EBITDA) | 149 818 |
| 2 · Revenue projection | |
| Revenue multiplier — spot | ×1.097 (+10%) |
| = Spot revenue | 215 366 |
| Revenue multiplier — 3y price | ×1.009 (+1%) |
| = 3-year-price revenue | 198 197 |
| 3 · Costs projection | |
| Cost multiplier — spot | ×1.040 (+4%) |
| = Spot cash costs | 155 811 |
| Cost multiplier — 3y price | ×1.040 (+4%) |
| = 3-year-price cash costs | 155 811 |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 59 555 |
| = 3-year-price EBITDA | 42 386 |
| Conservative EBITDA = min(spot, avg) | 50 970 |
| 5 · Valuation → target market cap | |
| Historical EV/EBITDA (75th pct, realized earnings) | 4.5x |
| Target EV = EV/EBITDA × conservative EBITDA | 231 406 |
| Net debt | 35 030 |
| Target market cap = EV − net debt | 200 509 |
| Current market cap | 192 185 |
Upside = target market cap ÷ current − 1 = +4.3%
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.
| Period | Act. rev | Model rev | Δ rev | Act. EBITDA | Model EBITDA | Δ EBITDA |
|---|---|---|---|---|---|---|
| 2023 FY | 237 128 | 268 356 | -11.6% | 50 782 | 37 521 | +35.3% |
| 2024 FY | 214 550 | 233 521 | -8.1% | 42 277 | 39 701 | +6.5% |
| 2025 FY | 201 196 | 211 270 | -4.8% | 38 854 | 32 106 | +21.0% |
Projected EV/EBITDA 6.2x · target 75th pct (3y) 5.4x · LTM avg 4.5x
No dividend rows found for this issuer (checked: Yahoo Finance (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.
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