TotalEnergies SE

TTE · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992
Valuation
Market cap	$140,289	$122,652	$158,582	$154,189	$128,868	$109,051	$143,870	$136,057	$138,658	$121,267	$103,162	$116,370	$138,737	$117,341	$114,869	$119,519	$142,848	$123,588	$186,287	$164,917	$148,309	$132,168	$115,055	$93,346	$95,747	$105,498	$33,845	$24,373	$27,305	$19,316	$15,904	$13,652	$11,995	$8,770
Enterprise value	$174,816	$146,255	$175,724	$176,221	$161,697	$152,967	$177,790	$160,405	$156,997	$152,003	$133,570	$149,980	$166,760	$140,586	$143,271	$145,160	$165,422	$140,798	$207,232	$183,998	$165,154	$143,951	$125,165	$103,326	$105,594	$115,929	$49,525	$27,970	$30,680	$22,052	$18,573	$16,205	$14,303	$11,479
P/E (TTM) at period end	10.69×	7.78×	7.42×	7.51×	8.04×	–	12.77×	11.89×	16.07×	19.57×	20.28×	27.42×	12.36×	8.60×	9.33×	11.31×	11.80×	8.38×	9.69×	10.62×	10.20×	8.98×	13.03×	14.96×	14.03×	16.23×	22.06×	23.47×	21.61×	17.74×	34.69×	21.53×	23.79×	17.02×
P/S (TTM) at period end	0.70×	0.57×	0.67×	0.55×	0.63×	0.78×	0.72×	0.65×	0.93×	0.95×	0.72×	0.49×	0.55×	0.46×	0.62×	0.75×	0.89×	0.55×	0.93×	0.94×	1.07×	1.02×	0.87×	0.87×	1.02×	0.98×	0.80×	0.85×	0.86×	0.57×	0.57×	0.53×	0.52×	0.35×
P/B at period end	1.22×	1.04×	1.36×	1.38×	1.15×	1.05×	1.23×	1.18×	1.24×	1.23×	1.12×	1.29×	1.38×	1.25×	1.72×	1.98×	1.90×	1.81×	2.84×	3.10×	3.08×	3.12×	3.01×	2.76×	3.17×	3.46×	1.19×	1.97×	2.41×	1.65×	1.45×	1.37×	1.33×	1.05×
EV / EBITDA (TTM)	5.18×	3.93×	3.93×	2.74×	4.13×	9.24×	5.44×	5.24×	6.44×	7.65×	6.06×	5.15×	4.55×	3.47×	3.68×	4.34×	5.37×	3.45×	4.62×	4.68×	4.65×	4.48×	5.51×	6.01×	23.06×	6.23×	9.49×	8.61×	8.35×	6.70×	6.23×	6.64×	6.98×	5.15×
EV / Sales (TTM)	0.87×	0.68×	0.74×	0.63×	0.79×	1.09×	0.89×	0.77×	1.05×	1.19×	0.93×	0.64×	0.66×	0.55×	0.78×	0.91×	1.03×	0.63×	1.04×	1.05×	1.19×	1.11×	0.95×	0.96×	1.12×	1.07×	1.16×	0.98×	0.97×	0.65×	0.67×	0.63×	0.62×	0.46×
Returns
Return on equity	11.4%	13.4%	18.3%	18.4%	14.3%	(7.0%)	9.6%	9.9%	7.7%	6.3%	5.5%	4.7%	11.2%	14.5%	18.4%	17.5%	16.1%	21.6%	29.3%	29.2%	30.2%	34.8%	23.1%	18.5%	22.6%	21.3%	5.4%	8.4%	11.2%	9.3%	4.2%	6.3%	5.6%	6.2%
Return on invested capital	7.8%	9.7%	13.6%	17.3%	10.0%	(4.2%)	7.0%	7.1%	4.3%	3.5%	1.6%	2.2%	7.9%	10.3%	14.9%	14.3%	11.1%	16.4%	20.9%	19.4%	21.9%	23.6%	18.2%	12.7%	(0.3%)	16.8%	3.9%	6.9%	9.6%	8.3%	5.0%	6.3%	6.0%	7.0%
Dividend yield	5.8%	6.3%	4.7%	6.5%	6.4%	6.1%	4.6%	3.6%	1.9%	2.2%	2.8%	6.3%	5.1%	5.7%	4.5%	4.3%	5.1%	5.6%	3.5%	3.2%	2.8%	4.0%	2.9%	2.9%	–	1.6%	2.9%	2.4%	1.7%	0.9%	1.2%	1.7%	1.0%	3.5%
Financial health
Current ratio	0.97×	1.10×	1.12×	1.15×	1.17×	1.23×	1.21×	1.28×	1.50×	1.33×	1.38×	1.50×	1.39×	1.42×	1.36×	1.45×	1.45×	1.37×	1.35×	1.28×	1.31×	1.20×	1.28×	1.24×	1.23×	1.35×	1.13×	1.37×	1.37×	1.40×	1.59×	1.53×	1.56×	1.54×
Debt / equity	0.49×	0.41×	0.37×	0.49×	0.52×	0.69×	0.48×	0.42×	0.43×	0.53×	0.57×	0.61×	0.46×	0.47×	0.48×	0.51×	0.48×	0.46×	0.42×	0.49×	0.43×	0.42×	0.45×	0.47×	0.43×	0.48×	0.66×	0.47×	0.46×	0.73×	0.73×	0.66×	0.67×	0.61×
Effective tax rate	40.5%	40.2%	38.2%	51.4%	36.9%	(4.5%)	33.9%	36.1%	26.7%	13.5%	25.7%	67.0%	56.2%	54.8%	52.8%	48.6%	47.3%	56.4%	50.1%	53.1%	49.7%	42.7%	43.2%	45.9%	43.4%	47.8%	35.7%	29.2%	34.9%	31.7%	47.4%	33.8%	35.7%	37.9%
Share count
Diluted shares outstanding	2,214	2,315	2,434	2,572	2,647	2,602	2,618	2,624	2,495	2,390	2,304	2,282	2,272	2,267	2,257	2,244	2,237	2,247	2,274	2,312	2,360	2,417	2,498	2,630	2,745	2,816	977	980	979	960	936	926	885	845

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992
Revenue and gross profit
Revenue	$205,703	$201,196	$214,550	$237,128	$280,999	$205,863	$140,685	$200,316	$209,363	$149,099	$127,925	$143,421	$236,122	$251,725	$257,037	$184,693	$159,269	$160,687	$223,197	$199,490	$175,123	$138,642	$129,127	$131,568	$107,698	$93,870	$107,890	$42,566	$28,507	$31,720	$34,062	$27,696	$25,612	$23,037	$24,732
Cost of revenue	($136,164)	($130,497)	($140,078)	($156,572)	($182,099)	–	–	($116,221)	($125,816)	($99,411)	($83,377)	($96,671)	($152,975)	($173,135)	($175,465)	($113,892)	($93,171)	($101,808)	($154,556)	($128,023)	($109,984)	($83,253)	($76,445)	($109,257)	($90,979)	($78,220)	($89,928)	($37,349)	($25,257)	($28,044)	($30,769)	($24,714)	($23,171)	($20,988)	($22,501)
Gross profit	$60,218	$51,847	$55,532	$62,373	$81,211	–	–	$84,095	$83,547	$49,688	$44,548	$46,750	$83,147	$54,834	$58,751	$70,801	$66,098	$58,879	$68,640	$71,467	$65,139	$55,390	$52,682	$22,311	$16,719	$15,650	$17,962	$5,217	$3,250	$3,676	$3,293	$2,982	$2,441	$2,048	$2,230
Operating expenses
Research and development	–	($810)	($805)	($774)	($762)	($824)	($895)	($968)	($986)	($912)	($1,050)	($980)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	($26,590)	($25,430)	($25,784)	–	($22,717)	–	–	–	–	–	–	–	–	–	–	–	–
Total operating expenses	($33,287)	($31,922)	($31,427)	($31,516)	($30,658)	–	–	($67,838)	($67,530)	($41,933)	($39,089)	($44,056)	($74,870)	($31,517)	($31,650)	($40,466)	($41,786)	($38,266)	($36,437)	($35,263)	($33,178)	($27,097)	($29,619)	($6,257)	($6,084)	($15,875)	($4,576)	($2,499)	($1,627)	($1,506)	($1,536)	($1,681)	($1,244)	($987)	($986)
Total costs and expenses	($178,772)	($181,271)	($190,445)	($206,271)	($230,446)	($181,041)	($147,000)	($184,059)	($193,346)	($141,344)	($122,466)	($140,727)	($227,845)	($228,408)	($229,936)	($154,358)	($134,957)	($140,074)	($190,993)	($163,286)	($143,163)	($110,349)	($106,064)	($115,514)	($97,063)	($94,095)	($94,504)	($39,848)	($26,885)	($29,550)	($32,305)	($26,395)	($24,414)	($21,975)	($23,488)
Operating income	$26,931	$19,925	$24,105	$30,857	$50,553	$24,822	($6,315)	$16,257	$16,017	$7,755	$5,459	$2,694	$8,277	$23,317	$27,101	$30,335	$24,312	$20,613	$32,203	$36,204	$31,960	$28,293	$23,063	$16,054	$10,635	($225)	$13,386	$2,718	$1,622	$2,170	$1,756	$1,301	$1,198	$1,062	$1,244
Earnings
EBITDA	$41,438	$33,772	$37,212	$44,675	$64,233	$39,165	$16,546	$32,658	$30,601	$24,366	$19,882	$22,028	$29,136	$36,675	$40,567	$38,963	$33,429	$30,795	$40,830	$44,887	$39,291	$35,498	$32,114	$22,723	$17,190	$4,579	$18,623	$5,217	$3,250	$3,676	$3,293	$2,982	$2,441	$2,048	$2,230
Interest income	$964	$2,552	$3,189	$3,086	$2,039	$1,141	$951	$773	$932	$819	$975	$976	$929	$781	$845	$882	$573	$189	$1,672	$1,703	$1,716	$1,098	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($2,828)	($4,063)	($3,851)	($3,551)	($2,919)	($2,443)	($2,837)	($3,097)	($1,927)	($1,395)	($1,111)	($965)	($748)	($1,591)	($1,504)	($1,142)	($872)	($759)	($1,845)	($2,130)	($0)	($388)	($179)	($183)	($195)	–	–	–	–	–	–	–	–	–	–
Pre-tax income	$29,292	$22,449	$26,806	$34,811	$43,286	$25,953	($7,018)	$17,310	$18,066	$11,328	$7,176	$6,439	$12,864	$26,288	$30,583	$26,705	$21,035	$23,468	$34,940	$39,526	$34,130	$28,114	$27,320	$15,562	$11,527	$12,061	$12,456	$2,385	$1,467	$1,940	$1,595	$871	$958	$784	$829
Income tax expense	($11,195)	($9,092)	($10,775)	($13,301)	($22,242)	($9,587)	($318)	($5,872)	($6,516)	($3,029)	($970)	($1,653)	($8,614)	($14,767)	($16,747)	($14,091)	($10,228)	($11,105)	($19,693)	($19,792)	($18,108)	($13,983)	($11,654)	($6,730)	($5,287)	($5,235)	($5,954)	($851)	($429)	($677)	($506)	($412)	($324)	($280)	($314)
Net income	$17,821	$13,127	$15,758	$21,384	$20,526	$16,032	($7,242)	$11,267	$11,446	$8,631	$6,196	$5,087	$4,244	$11,228	$13,648	$12,309	$10,571	$12,102	$14,742	$19,218	$15,531	$14,536	$14,720	$8,832	$6,240	$6,826	$6,502	$1,534	$1,038	$1,263	$1,089	$458	$634	$504	$515
Per share
Diluted EPS (GAAP)	$7.95	$5.78	$6.69	$8.67	$7.85	$5.92	($2.90)	$4.17	$4.24	$3.34	$2.51	$2.16	$1.86	$4.94	$6.02	$5.45	$4.71	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Basic EPS (GAAP)	$8.04	$5.84	$6.74	$8.72	$7.91	$5.95	($2.90)	$4.20	$4.27	$3.36	$2.52	$2.17	$1.87	$4.96	$6.05	$5.48	$4.73	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Basic shares outstanding	2,203	2,191	2,298	2,417	2,555	2,631	2,602	2,602	2,607	2,482	2,379	2,295	2,270	2,264	2,256	2,247	2,235	2,231	2,235	2,255	2,293	2,347	2,407	2,488	2,611	2,726	2,816	977	980	979	960	936	926	885	845
Margins
Gross margin	29.3%	25.8%	25.9%	26.3%	28.9%	–	–	42.0%	39.9%	33.3%	34.8%	32.6%	35.2%	21.8%	22.9%	38.3%	41.5%	36.6%	30.8%	35.8%	37.2%	40.0%	40.8%	17.0%	15.5%	16.7%	16.6%	12.3%	11.4%	11.6%	9.7%	10.8%	9.5%	8.9%	9.0%
Operating margin	13.1%	9.9%	11.2%	13.0%	18.0%	12.1%	(4.5%)	8.1%	7.7%	5.2%	4.3%	1.9%	3.5%	9.3%	10.5%	16.4%	15.3%	12.8%	14.4%	18.1%	18.3%	20.4%	17.9%	12.2%	9.9%	(0.2%)	12.4%	6.4%	5.7%	6.8%	5.2%	4.7%	4.7%	4.6%	5.0%
Net margin	8.7%	6.5%	7.3%	9.0%	7.3%	7.8%	(5.1%)	5.6%	5.5%	5.8%	4.8%	3.5%	1.8%	4.5%	5.3%	6.7%	6.6%	7.5%	6.6%	9.6%	8.9%	10.5%	11.4%	6.7%	5.8%	7.3%	6.0%	3.6%	3.6%	4.0%	3.2%	1.7%	2.5%	2.2%	2.1%

Analyst consensus

Buy34 analysts

Bearish · 1 · Hold · 13 · Bullish · 20

Earnings history

	EPS	Estimate
Q3 2024	$1.74	$1.96	Miss
Q4 2024	$1.90	$1.74	Beat
Q1 2025	$1.83	$1.88	Miss
Q2 2025	$1.57	$1.62	Miss
Q3 2025	$1.77	$1.81	Miss
Q4 2025	$1.73	$1.80	Miss
Q1 2026	$2.45	$2.22	Beat
Q2 2026	$2.68	$2.66	Beat

Peers

Company overview

IPO dateOct 25, 1991

CEOPatrick Pouyanne

Employees94,847

SectorEnergy

IndustryOil & Gas Integrated

CountryFR

ExchangeNew York Stock Exchange

Websitewww.totalenergies.com

TotalEnergies SE, headquartered in Courbevoie, France, traces its origins back to its incorporation in 1924. Known as TOTAL SE until its rebranding in June 2021, it stands as a global, integrated energy powerhouse. Its extensive worldwide operations are structured across four key business segments: The Integrated Gas, Renewables & Power division encompasses the entire liquefied natural gas (LNG) value chain, from production and shipping to trading and regasification. It also actively trades various energy commodities including liquefied petroleum gas (LPG), natural gas, and electricity, alongside petcoke and sulfur. This segment is deeply involved in natural gas transportation, electricity generation from a diverse mix of sources—ranging from natural gas to wind, solar, hydroelectric, and biogas—as well as energy storage solutions and the development of biomethane facilities. Furthermore, it offers energy efficiency services. Its Exploration & Production arm is dedicated to discovering and extracting crude oil and natural gas deposits. The Refining & Chemicals segment is responsible for refining petrochemicals, such as olefins and aromatics, and producing various polymer derivatives including polyethylene, polypropylene, and polystyrene, as well as hydrocarbon resins. This segment also ventures into biomass conversion and elastomer processing, complemented by the trading and shipping of crude oil and refined petroleum products. Finally, the Marketing & Services division focuses on manufacturing and distributing lubricants, alongside supplying and marketing a wide array of petroleum products. These include bulk fuel, specialized fluids, aviation and marine fuels, compressed natural gas (CNG), LPG, and bitumen. The company further supports its customers with fuel payment solutions and maintains a vast retail network, comprising approximately 16,000 service stations and 25,000 electric vehicle (EV) charging points globally. TotalEnergies also reported substantial combined proved reserves of oil and gas, totaling 12,062 Mboe as of December 31, 2021. Demonstrating its commitment to innovation and sustainability, the company has forged strategic alliances with partners like PureCycle Technologies, Plastic Energy, Freepoint Eco-Systems, and Plastic Omnium for various developmental initiatives.

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