TotalEnergies SE (TTE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+111.4%

$196.32

vs $92.88 price

Levered DCF

$246.77

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.26

Grey zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	11.2×	7.94×	7.61×	7.73×	8.12×	-15.08×	12.77×	12.22×
P/B	1.25×	1.08×	1.4×	1.42×	1.16×	1.05×	1.23×	1.18×
P/S	0.79×	0.65×	0.74×	0.6×	0.7×	0.91×	0.82×	0.74×
EV / EBITDA	4.6×	3.67×	3.61×	3.16×	4.09×	8.67×	4.97×	4.65×
Gross margin	28.4%	28.4%	28.5%	30.8%	28.2%	16.4%	25.0%	23.9%
Operating margin	10.9%	12.3%	14.1%	18.9%	13.0%	0.0%	8.7%	8.3%
Net margin	7.2%	8.1%	9.8%	7.8%	8.7%	-6.0%	6.4%	6.2%
Current ratio	0.97×	1.1×	1.12×	1.15×	1.17×	1.23×	1.21×	1.28×
Debt / equity	0.53×	0.45×	0.41×	0.54×	0.56×	0.75×	0.54×	0.46×
Interest coverage	7.79×	6.26×	13.84×	24.09×	13.73×	0×	6.94×	7.9×
Dividend yield	5.9%	6.1%	4.6%	6.3%	6.3%	6.1%	4.6%	3.6%
Payout ratio	64.4%	49.0%	35.2%	48.7%	51.3%	-92.4%	58.9%	42.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.4%	13.4%	18.3%	18.4%	14.3%	-7.0%	9.6%	9.9%
Return on invested capital	5.6%	6.9%	9.3%	11.5%	7.1%	0.0%	4.7%	4.7%
Return on assets	4.5%	5.5%	7.5%	6.8%	5.5%	-2.7%	4.1%	4.5%
Free cash flow yield	7.5%	12.5%	14.1%	20.0%	13.9%	3.7%	8.9%	5.6%
Earnings yield	9.2%	12.4%	13.1%	12.9%	12.3%	-6.6%	7.8%	8.4%
Enterprise value	$178.6B	$155.1B	$183.5B	$186.3B	$171.9B	$155.1B	$179.1B	$161.6B
Net debt / EBITDA	0.91×	0.66×	0.41×	0.47×	0.99×	2.57×	0.98×	0.73×
Cash conversion cycle (days)	-23	21	20	45	63	46	40	32