Recent News
07/22/2025 — TotalEnergies announced a strategic collaboration with Emerson to deploy AspenTech Inmation for industrial data collection across global sites. 07/22/2025 — the company disclosed share repurchases executed mid-July. 07/22/2025 — TotalEnergies signed improved-forest management agreements across 100,000 hectares in the U.S. South. 07/23/2025 — a 50/50 LNG bunkering logistics joint venture with CMA CGM was announced to develop Rotterdam ARA facilities and a 20,000 m3 bunker vessel. 07/29/2025 — TotalEnergies exited selected offshore South African exploration blocks. 10/15/2025 — the company issued a Q3 trading update flagging higher hydrocarbon production and much stronger refining margins, offset by maintenance at an Australian LNG plant that reduced integrated LNG output.
Technical Analysis
ADX at 16.05 indicates no established trend, suggesting price action remains range-defined despite short-term signals; this moderates conviction behind any directional breakout and ties directly to the fair-valued stance.
DI+ shows a dip & reversal while DI- shows a peak & reversal; both directional indicators imply a bullish directional rebalancing, supporting a near-term upside bias to price relative to valuation.
MACD currently at -0.33 with a MACD signal at -0.51 has crossed above its signal line and exhibits a dip & reversal, signaling a transition toward bullish momentum that aligns with the operational uplift cited in recent updates.
MRO sits at -23.69 with a dip & reversal; the negative value indicates price below model target and, combined with the reversal, implies potential upward pressure as valuation metrics reprice toward fair value.
RSI at 48.33 with a dip & reversal reads as neutral-to-firming momentum rather than overbought conditions; this supports constructive short-term moves without immediate exhaustion risk.
Price sits at $61.04 above the 200-day average ($59.64) and above the 12- and 26-day EMAs; the 12-day EMA shows a dip & reversal. Price trades slightly above the 1x Bollinger upper band ($60.92), suggesting short-term strength while remaining inside the 2x band ceiling ($62.30). Ichimoku lines place the Tenkan at $59.49 and Kijun at $60.45 with price above both, reinforcing short-term bullish structure.
Low realized volatility (42-day beta 0.32, 52-week beta 0.49) and volume near recent averages point to measured moves rather than sharp breakouts; SuperTrend lower support sits near $58.91, which anchors downside risk relative to current valuation.
Fundamental Analysis
Earnings: reported EPS $1.57 versus estimate $1.61, an EPS surprise of -2.48%. Forward EPS sits at $2.03. The reported EPS shortfall marginally reduces short-term earnings momentum but leaves forward earnings multiple materially lower than the trailing P/E.
Multiples and valuation: trailing P/E equals 38.79x while forward P/E equals 29.55x; price-to-book equals 1.16x, below the industry peer mean of 1.57x and below the peer median of 1.77x. Enterprise value approximates $171.43B versus market cap $134.81B, producing an enterprise multiple near 18.99x. WMDST values the stock as fair-valued given the balance of multiples, cash flow, and leverage.
Margins and profitability: EBIT margin at 12.69% falls below the industry peer mean of 17.39% and sits slightly under the peer median of 13.65%. Operating margin equals 9.69% and gross margin equals 27.44%. Both EBIT margin QoQ declined by 17.64% and YoY declined by 14.49%, indicating margin compression versus recent periods despite the recent refining margin tailwind cited in operating updates.
Revenue and growth: revenue totaled $44.676B with YoY revenue growth of +29.30% and an overall revenue growth figure of -6.73%; quarter-on-quarter revenue change shows -504.39% as reported. These cadence figures signal sizeable period-to-period swings in top-line recognition and require cautious interpretation when aligning near-term price bias with fundamental growth.
Cash flow and capital allocation: operating cash flow equals $5.96B and free cash flow equals $1.19B, producing a free cash flow yield of 0.89%, below the industry peer mean of 1.28%. Capital expenditures totaled -$4.77B. Cash and short-term investments total $25.61B while net debt stands at $41.80B, producing leverage metrics that sit within the firm’s historical framework but leave limited excess liquidity for outsized buybacks beyond disclosed activity.
Balance sheet and coverage: total debt equals $62.22B, debt-to-EBITDA equals 6.89x, and interest coverage approximates 6.95x, sufficient for near-term coverage but elevated versus lower-leverage peers. Return on equity equals 2.30% and return on assets equals 0.92%, reflecting capital intensity in an integrated energy model. Dividend yield equals 1.41% with a payout ratio near 70.49% and dividend coverage about 1.42x.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-24 |
| NEXT REPORT DATE: | 2025-10-29 |
| CASH FLOW | Begin Period Cash Flow | $ 22.8 B |
| Operating Cash Flow | $ 6.0 B | |
| Capital Expenditures | $ -4.77 B | |
| Change In Working Capital | $ 49.0 M | |
| Dividends Paid | $ -1.89 B | |
| Cash Flow Delta | $ -2.41 B | |
| End Period Cash Flow | $ 20.4 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 44.7 B | |
| Forward Revenue | $ 18.6 B | |
| COSTS | ||
| Cost Of Revenue | $ 32.4 B | |
| Depreciation | $ 3.4 B | |
| Depreciation and Amortization | $ 3.4 B | |
| Research and Development | — | |
| Total Operating Expenses | $ 40.3 B | |
| PROFITABILITY | ||
| Gross Profit | $ 12.3 B | |
| EBITDA | $ 9.0 B | |
| EBIT | $ 5.7 B | |
| Operating Income | $ 4.3 B | |
| Interest Income | $ 327.0 M | |
| Interest Expense | $ 816.0 M | |
| Net Interest Income | $ -263.00 M | |
| Income Before Tax | $ 4.9 B | |
| Tax Provision | $ 2.1 B | |
| Tax Rate | 25.0 % | |
| Net Income | $ 2.7 B | |
| Net Income From Continuing Operations | $ 2.7 B | |
| EARNINGS | ||
| EPS Estimate | $ 1.61 | |
| EPS Actual | $ 1.57 | |
| EPS Difference | $ -0.04 | |
| EPS Surprise | -2.484 % | |
| Forward EPS | $ 2.03 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 292.8 B | |
| Intangible Assets | $ 36.7 B | |
| Net Tangible Assets | $ 80.0 B | |
| Total Current Assets | $ 90.8 B | |
| Cash and Short-Term Investments | $ 25.6 B | |
| Cash | $ 20.4 B | |
| Net Receivables | $ 21.3 B | |
| Inventory | $ 17.3 B | |
| Long-Term Investments | $ 4.1 B | |
| LIABILITIES | ||
| Accounts Payable | $ 39.3 B | |
| Short-Term Debt | $ 14.6 B | |
| Total Current Liabilities | $ 91.2 B | |
| Net Debt | $ 41.8 B | |
| Total Debt | $ 62.2 B | |
| Total Liabilities | $ 173.8 B | |
| EQUITY | ||
| Total Equity | $ 116.6 B | |
| Retained Earnings | — | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 52.94 | |
| Shares Outstanding | 2.203 B | |
| Revenue Per-Share | $ 20.28 | |
| VALUATION | Market Capitalization | $ 134.8 B |
| Enterprise Value | $ 171.4 B | |
| Enterprise Multiple | 18.988 | |
| Enterprise Multiple QoQ | 22.72 % | |
| Enterprise Multiple YoY | 45.491 % | |
| Enterprise Multiple IPRWA | high: 75.659 mean: 30.835 median: 28.835 TTE: 18.988 low: -7.608 |
|
| EV/R | 3.837 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.51 | |
| Asset To Liability | 1.685 | |
| Debt To Capital | 0.348 | |
| Debt To Assets | 0.212 | |
| Debt To Assets QoQ | 4.84 % | |
| Debt To Assets YoY | 426.878 % | |
| Debt To Assets IPRWA | high: 0.609 mean: 0.237 TTE: 0.212 median: 0.21 low: 0.002 |
|
| Debt To Equity | 0.533 | |
| Debt To Equity QoQ | 6.662 % | |
| Debt To Equity YoY | 455.551 % | |
| Debt To Equity IPRWA | high: 1.807 mean: 0.734 TTE: 0.533 median: 0.418 low: 0.002 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.156 | |
| Price To Book QoQ | 3.276 % | |
| Price To Book YoY | -12.018 % | |
| Price To Book IPRWA | high: 3.756 median: 1.768 mean: 1.571 TTE: 1.156 low: 0.005 |
|
| Price To Earnings (P/E) | 38.792 | |
| Price To Earnings QoQ | 19.416 % | |
| Price To Earnings YoY | 15.059 % | |
| Price To Earnings IPRWA | high: 185.623 mean: 52.576 median: 48.382 TTE: 38.792 low: -96.671 |
|
| PE/G Ratio | -2.73 | |
| Price To Sales (P/S) | 3.018 | |
| Price To Sales QoQ | 9.493 % | |
| Price To Sales YoY | -3.75 % | |
| Price To Sales IPRWA | high: 30.921 mean: 6.183 median: 5.84 TTE: 3.018 low: 0.012 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 29.55 | |
| Forward PE/G | -2.08 | |
| Forward P/S | 7.243 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.446 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.153 | |
| Asset Turnover Ratio QoQ | -7.902 % | |
| Asset Turnover Ratio YoY | -12.474 % | |
| Asset Turnover Ratio IPRWA | high: 0.422 median: 0.165 mean: 0.154 TTE: 0.153 low: 0.002 |
|
| Receivables Turnover | 1.937 | |
| Receivables Turnover Ratio QoQ | -10.717 % | |
| Receivables Turnover Ratio YoY | -11.706 % | |
| Receivables Turnover Ratio IPRWA | high: 6.047 mean: 1.94 TTE: 1.937 median: 1.804 low: 0.322 |
|
| Inventory Turnover | 1.785 | |
| Inventory Turnover Ratio QoQ | -0.044 % | |
| Inventory Turnover Ratio YoY | 2.817 % | |
| Inventory Turnover Ratio IPRWA | high: 23.002 mean: 3.374 median: 2.469 TTE: 1.785 low: 0.051 |
|
| Days Sales Outstanding (DSO) | 47.116 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -14.247 | |
| Cash Conversion Cycle Days QoQ | -26.806 % | |
| Cash Conversion Cycle Days YoY | 5782.624 % | |
| Cash Conversion Cycle Days IPRWA | high: 82.233 median: 6.538 mean: 3.157 TTE: -14.247 low: -110.2 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | -120.746 | |
| CapEx To Revenue | -0.107 | |
| CapEx To Depreciation | -1.418 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 164.2 B | |
| Net Invested Capital | $ 178.9 B | |
| Invested Capital | $ 178.9 B | |
| Net Tangible Assets | $ 80.0 B | |
| Net Working Capital | $ -370.00 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.281 | |
| Current Ratio | 0.996 | |
| Current Ratio QoQ | -7.241 % | |
| Current Ratio YoY | -10.644 % | |
| Current Ratio IPRWA | high: 5.453 median: 1.249 mean: 1.206 TTE: 0.996 low: 0.329 |
|
| Quick Ratio | 0.807 | |
| Quick Ratio QoQ | -6.566 % | |
| Quick Ratio YoY | -7.232 % | |
| Quick Ratio IPRWA | high: 3.791 mean: 0.944 median: 0.919 TTE: 0.807 low: 0.247 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 6.892 | |
| Cost Of Debt | 1.01 % | |
| Interest Coverage Ratio | 6.946 | |
| Interest Coverage Ratio QoQ | -31.754 % | |
| Interest Coverage Ratio YoY | -30.987 % | |
| Interest Coverage Ratio IPRWA | high: 22.447 mean: 6.959 TTE: 6.946 median: 6.558 low: -20.714 |
|
| Operating Cash Flow Ratio | 0.09 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 110.302 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.419 | |
| Dividend Payout Ratio | 0.705 | |
| Dividend Rate | $ 0.86 | |
| Dividend Yield | 0.014 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.605 % | |
| Revenue Growth | -6.729 % | |
| Revenue Growth QoQ | -504.387 % | |
| Revenue Growth YoY | 29.304 % | |
| Revenue Growth IPRWA | high: 43.755 % median: -3.744 % mean: -4.948 % TTE: -6.729 % low: -35.032 % |
|
| Earnings Growth | -14.208 % | |
| Earnings Growth QoQ | 285.668 % | |
| Earnings Growth YoY | 90.023 % | |
| Earnings Growth IPRWA | high: 122.222 % TTE: -14.208 % median: -21.739 % mean: -24.218 % low: -180.0 % |
|
| MARGINS | ||
| Gross Margin | 27.442 % | |
| Gross Margin QoQ | -6.418 % | |
| Gross Margin YoY | -4.21 % | |
| Gross Margin IPRWA | high: 82.166 % TTE: 27.442 % mean: 24.775 % median: 22.581 % low: -39.892 % |
|
| EBIT Margin | 12.687 % | |
| EBIT Margin QoQ | -17.644 % | |
| EBIT Margin YoY | -14.485 % | |
| EBIT Margin IPRWA | high: 95.08 % mean: 17.391 % median: 13.652 % TTE: 12.687 % low: -39.515 % |
|
| Return On Sales (ROS) | 9.69 % | |
| Return On Sales QoQ | -37.098 % | |
| Return On Sales YoY | -34.686 % | |
| Return On Sales IPRWA | high: 90.781 % mean: 14.097 % median: 11.212 % TTE: 9.69 % low: -39.515 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 1.2 B | |
| Free Cash Flow Yield | 0.886 % | |
| Free Cash Flow Yield QoQ | -170.485 % | |
| Free Cash Flow Yield YoY | -74.259 % | |
| Free Cash Flow Yield IPRWA | high: 8.634 % median: 1.349 % mean: 1.28 % TTE: 0.886 % low: -11.931 % |
|
| Free Cash Growth | -171.971 % | |
| Free Cash Growth QoQ | 44.763 % | |
| Free Cash Growth YoY | -67.2 % | |
| Free Cash Growth IPRWA | high: 300.833 % mean: -7.42 % median: -24.008 % TTE: -171.971 % low: -616.098 % |
|
| Free Cash To Net Income | 0.444 | |
| Cash Flow Margin | 18.289 % | |
| Cash Flow To Earnings | 3.041 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.92 % | |
| Return On Assets QoQ | -31.138 % | |
| Return On Assets YoY | -31.649 % | |
| Return On Assets IPRWA | high: 4.797 % mean: 1.21 % median: 0.982 % TTE: 0.92 % low: -3.385 % |
|
| Return On Capital Employed (ROCE) | 2.811 % | |
| Return On Equity (ROE) | 0.023 | |
| Return On Equity QoQ | -29.433 % | |
| Return On Equity YoY | -28.58 % | |
| Return On Equity IPRWA | high: 0.111 mean: 0.029 median: 0.027 TTE: 0.023 low: -0.087 |
|
| DuPont ROE | 2.291 % | |
| Return On Invested Capital (ROIC) | 2.377 % | |
| Return On Invested Capital QoQ | -4.996 % | |
| Return On Invested Capital YoY | -108.149 % | |
| Return On Invested Capital IPRWA | high: 6.932 % mean: 2.645 % TTE: 2.377 % median: 2.373 % low: -4.078 % |
|