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French integrated energy major producing oil and gas and rapidly growing its renewable power and electricity business.
French integrated energy major producing oil and gas and rapidly growing its renewable power and electricity business.
Earns from oil and gas it produces, LNG, refining and chemicals, and fuel stations, plus a growing power business of renewables and electricity sold to households and firms. Long-term LNG and power contracts give steadier earnings than spot oil alone. It was renamed from Total in 2021 to signal a multi-energy strategy.
In one line: France's Chevron/ExxonMobil, with a bigger renewables push..
Moat: narrow (scale, installed base). Large integrated upstream-to-power value chain gives cost and trading advantages smaller energy firms lack.
Headquarters: Paris, France · Founded: 1924 · Employees: 101,513
Size TotalEnergies (TTE.PA) is a France Energy company (Integrated Oil) with a market value of $200B, the 3rd largest of 206 France companies the cockpit tracks. Shares closed at €79.73 on 6 Nov 2026.
Performance Over six months the shares gained 1.9%, against +9.2% for the median peer and -0.4% for the France market (cap-weighted) — 4th lowest of 15 in its peer set.
Growth Revenue grew 10.8% over the last twelve months (peer median +17.4%); the operating margin is 16.7% (peer median 22.0%).
Valuation It trades at 7.0× forward earnings against a peer median of 8.4× (5th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about -16% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 9.6 points above its cost of capital (6.1% WACC).
Credit TotalEnergies has 26 bonds outstanding ($30.8B), rated A+ by the agencies and trading like AA at a weighted spread of 63 bp.
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €185B | €162B | €181B | €203B | €251B |
| Revenue growth | — | -11% | -11% | -19% | — |
| Gross profit | €30.9B | €17.8B | €22.3B | €28.9B | €47.6B |
| EBITDA | €43.2B | €30.4B | €34.3B | €41.5B | €59.7B |
| Net income | €19.3B | €11.6B | €14.6B | €19.8B | €19.5B |
| Free cash flow | €19.6B | €9.21B | €14.7B | €21.2B | €30.1B |
| Capital expenditure | €15.0B | €15.0B | €13.8B | €16.4B | €14.9B |
| Total debt | €55.5B | €52.0B | €51.7B | €45.3B | €56.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| TotalEnergies TTE.PA | $200B | +2% | +11% | 17% | 7.0× | -15.6% |
| Shell SHEL.L | $284B | +18% | +15% | 16% | 7.7× | -10.9% |
| Bp PLC BP..L | $116B | +2% | +23% | 13% | 5.4× | -16.3% |
| ExxonMobil XOM | $677B | +16% | +21% | 14% | 11.8× | -5.9% |
| Chevron CVX | $415B | +18% | +22% | 15% | 11.4× | -3.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TTE.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.8% | -1.2% | 3rd highest of 15 |
| 6-month return | +1.9% | +9.2% | 4th lowest of 15 |
| Distance from 52-week high | -7.2% | -12.6% | highest of 15 |
| Revenue growth (TTM) | +10.8% | +17.4% | 5th lowest of 15 |
| Operating margin | 16.7% | 22.0% | 7th lowest of 15 |
| Forward P/E | 7.0× | 8.4× | 5th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | -15.6% | -10.9% | 3rd least demanding of 14 |
| Growth delivered (Del g) | +9.0% | +14.3% | 4th lowest of 14 |
| Hurdle (Req g minus delivered) | -24.6 pp | -18.9 pp | 7th least demanding of 14 |
| ROIC minus cost of capital | +9.6 pp | +12.2 pp | 7th lowest of 15 |
| EV / EBITDA | 4.7× | 5.3× | 7th cheapest of 15 |
| Net debt / EBITDA | 0.5× | 0.3× | 6th most indebted of 15 |
| Bond spread | 63 bp | 66 bp | 4th tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| TotalEnergies TTE.PA | France | $200B | +2% | +11% | 17% | 7.0× | -15.6% | +9.0% |
| Cnooc 0883.HK | Hong Kong | $148B | -9% | +11% | 46% | 5.8× | n/a | n/a |
| Shell SHEL.L | United Kingdom | $284B | +18% | +15% | 16% | 7.7× | -10.9% | +8.1% |
| PetroChina 601857.SS | China | $336B | +4% | -3% | 9% | 12.1× | -5.1% | +8.6% |
| Petroleo Brasileiro SA Sponsored ADR PBR | United States | $118B | -9% | +21% | 35% | 3.7× | -19.8% | +11.0% |
| Bp PLC BP..L | United Kingdom | $116B | +2% | +23% | 13% | 5.4× | -16.3% | +11.7% |
| Equinor EQNR.OL | Norway | $102B | +12% | +2% | 33% | 7.2× | -15.4% | +20.7% |
| Canadian Natural Resources CNQ.TO | Canada | $101B | +12% | +18% | 27% | 10.3× | 2.8% | +18.1% |
| Chevron CVX | United States | $415B | +18% | +22% | 15% | 11.4× | -3.0% | +14.3% |
| Suncor Energy SU.TO | Canada | $81.0B | +12% | +27% | 24% | 8.6× | -11.7% | +14.7% |
| EOG Resources EOG | United States | $77.2B | +13% | +17% | 35% | 8.3× | -13.5% | +17.9% |
| Imperial Oil IMO.TO | Canada | $59.5B | +3% | +19% | 14% | 10.5× | -0.2% | +17.1% |
| ExxonMobil XOM | United States | $677B | +16% | +21% | 14% | 11.8× | -5.9% | +12.7% |
| Occidental Petroleum OXY | United States | $56.4B | +7% | -11% | 23% | 9.1× | -2.5% | +4.7% |
| Cenovus Energy CVE.TO | Canada | $50.2B | 0% | +12% | 21% | 6.7× | -14.4% | +29.7% |
TotalEnergies has 26 bonds outstanding with $30.8B face value. The agencies rate it A+; its bonds trade like AA. Weighted yield 3.88%, a spread of 63 bp over government bonds.