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TotalEnergies SE (FR:TTE)
:TTE
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TotalEnergies SE
(TTE)
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Rating:78Outperform
Price Target:
€65.00
▲(21.47% Upside)
TotalEnergies SE's strong technical indicators and positive earnings call sentiment are the primary drivers of its high score. The company's solid financial performance and attractive valuation further support its investment appeal. However, challenges in profitability and external risks, such as the French tax environment, slightly temper the overall outlook.
Positive Factors
Renewable Energy Expansion
The agreement to supply renewable electricity for 10 years reflects TotalEnergies' commitment to expanding its renewable energy footprint, aligning with global sustainability trends and enhancing long-term growth prospects.
Strong Upstream Production Growth
Consistent upstream production growth indicates robust operational capabilities and enhances revenue potential, supporting long-term business stability despite volatile oil prices.
Improved Refining Margins
Significant improvement in refining margins enhances profitability and cash flow, strengthening TotalEnergies' competitive position in the downstream segment.
Negative Factors
Declining Cash Flow
A decline in free cash flow poses challenges to sustaining long-term growth and limits financial flexibility, potentially impacting investment in strategic initiatives.
LNG Trading Profitability Pressure
Reduced LNG trading profits due to market normalization could impact earnings, requiring strategic adjustments to maintain profitability in this segment.
Challenges in French Tax Environment
Potential tax increases in France create uncertainty, potentially affecting TotalEnergies' financial performance and strategic decisions in its home market.
TotalEnergies SE (TTE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€118.73B
Dividend Yield5.87%
Average Volume (3M)4.61M
Price to Earnings (P/E)9.5
Beta (1Y)0.57
Revenue Growth-11.20%
EPS Growth-13.26%
CountryFR
Employees95,393
SectorEnergy
Sector Strength52
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)1.52
Shares Outstanding2,206,585,400
10 Day Avg. Volume4,152,678
30 Day Avg. Volume4,611,156
Financial Highlights & Ratios
PEG Ratio-0.35
Price to Book (P/B)1.08
Price to Sales (P/S)0.65
P/FCF Ratio7.96
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€61.52Price Target Upside14.97% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
TotalEnergies SE Business Overview & Revenue Model
Company DescriptionTotalEnergies SE operates as an integrated oil and gas company worldwide. The company operates through four segments: Integrated Gas, Renewables & Power; Exploration & Production; Refining & Chemicals; and Marketing & Services. The Integrated Gas, Renewables & Power segment engages in the liquefied natural gas production, shipping, trading, and regasification activities; trading of liquefied petroleum gas (LPG), petcoke and sulfur, natural gas, and electricity; transportation of natural gas; electricity production from natural gas, wind, solar, hydroelectric, and biogas sources; energy storage activities; and development and operation of biomethane production units, as well as provides energy efficiency services. The Exploration & Production segment is involved in the oil and natural gas exploration and production activities. The Refining & Chemicals segment engages in refining petrochemicals, including olefins and aromatics; and polymer derivatives, such as polyethylene, polypropylene, polystyrene, and hydrocarbon resins, as well as biomass conversion and elastomer processing. This segment is also involved in trading and shipping crude oil and petroleum products. The Marketing & Services segment produces and sells lubricants; supplies and markets petroleum products, including bulk fuel, aviation and marine fuel, special fluids, compressed natural gas, LPG, and bitumen; and provides fuel payment solutions. It operates approximately 16,000 service stations and 25,000 EV charge points. As of December 31, 2021, the company had 12,062 Mboe of combined proved reserves of oil and gas. TotalEnergies SE has strategic partnerships with PureCycle Technologies, Plastic Energy, Freepoint Eco-Systems, and Plastic Omnium for various development projects. The company was formerly known as TOTAL SE and changed its name to TotalEnergies SE in June 2021. TotalEnergies SE was incorporated in 1924 and is headquartered in Courbevoie, France.
How the Company Makes MoneyTotalEnergies generates revenue through multiple streams, primarily from the upstream and downstream sectors of the oil and gas industry. In the upstream segment, the company earns money by exploring, producing, and selling crude oil and natural gas. The downstream segment includes refining oil into petroleum products, such as gasoline and diesel, and selling these products through a network of service stations and retail outlets. Additionally, TotalEnergies is investing in renewable energy projects, such as solar and wind, which contribute to its revenue as the demand for clean energy increases. The company also benefits from strategic partnerships and joint ventures that enhance its operational capabilities and expand its market reach, allowing it to capitalize on emerging opportunities in the energy sector.
TotalEnergies SE Earnings Call Summary
Earnings Call Date:Oct 30, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 11, 2026
Earnings Call Sentiment Positive
TotalEnergies demonstrated resilience and strategic growth amid a challenging price environment. Despite lower oil prices, the company delivered strong cash flow and upstream production growth. Refining margins improved significantly, and shareholder returns were enhanced. However, challenges remain in the French tax landscape and the LNG trading environment.Q3-2025 Updates
Positive Updates
Increased Cash Flow Amid Challenging Environment
Despite a significant drop in oil prices, the cash flow for the third quarter increased by 4%. New high-margin barrels contributed an additional $400 million year-on-year.
Strong Upstream Production Growth
Upstream production grew over 4% in the third quarter, marking the highest growth quarter so far this year, and is expected to continue growing more than 4% year-on-year in the fourth quarter.
Improved Refining Margins
European refining margin significantly improved to $63 per ton, up close to 80% from the previous quarter, leading to a 30% increase in downstream adjusted net operating income.
Increased Shareholder Returns
The Board of Directors decided to increase the first interim dividend by close to 8% in euro and more than 10% in dollars compared to 2024. The buyback program was authorized up to $1.5 billion for the fourth quarter of 2025.
Strategic Growth in LNG and Power Segments
Continued growth in the U.S. presence with recent FID on Rio Grande LNG Train 4 and successful farm-downs in Integrated Power, generating around $1.5 billion in cash impact.
Negative Updates
Challenges in French Tax Environment
Ongoing political debates in France regarding potential tax increases, including on share buybacks, creating uncertainty and weighing on the company's share price.
LNG Trading Profitability Pressure
The LNG trading environment has normalized with lower volatility, reducing trading profits compared to exceptional years.
Execution Risks in South Africa
Legal complexities in obtaining drilling permits in South Africa, potentially impacting exploration activities.
Company Guidance
During the TotalEnergies Third Quarter 2025 Results Conference Call, the company provided guidance on several key metrics, illustrating a strong performance despite a challenging environment. The cash flow for the third quarter increased by 4% year-on-year, even though oil pricing dropped by over $10 per barrel. The company achieved a production growth of more than 4%, adding 170,000 barrels per day, which contributed an additional $400 million in cash flow year-on-year. Downstream operations showed resilience with cash flow up by almost $500 million. The company also reduced net investments by $3.5 billion quarter-over-quarter and released $1.3 billion in working capital, improving their gearing to 17% from nearly 18%. Looking forward, TotalEnergies anticipates maintaining a strong momentum into the fourth quarter with upstream production expected to grow more than 4% year-on-year, and net investments are projected to decrease further. The company also announced a share buyback of up to $1.5 billion for the fourth quarter and expects a 2025 payout ratio around 56%, supported by improved refining margins.TotalEnergies SE Financial Statement Overview
Summary
TotalEnergies SE demonstrates strong operational efficiency and a stable financial position, although recent periods have shown some pressure on revenue growth and cash flow generation. The company maintains a solid balance sheet with manageable leverage, but needs to address declining cash flow to sustain long-term growth.Income Statement
TotalEnergies SE has shown strong profitability with a consistent gross profit margin around 34.7% in recent periods. However, the net profit margin has slightly decreased to 6.8% in the TTM, reflecting some pressure on net income. Revenue has declined by 2.35% in the TTM, indicating challenges in maintaining growth. Despite this, EBIT and EBITDA margins remain robust, suggesting efficient operations.Balance Sheet
The company's debt-to-equity ratio has improved to 0.53 in the TTM, indicating a stable leverage position. Return on equity has decreased to 10.9%, reflecting a decline in profitability. The equity ratio remains strong, suggesting a solid capital structure. Overall, the balance sheet reflects stability with manageable debt levels.Cash Flow
Free cash flow has decreased by 26.48% in the TTM, highlighting potential cash flow challenges. The operating cash flow to net income ratio is 0.31, indicating moderate cash flow generation relative to net income. The free cash flow to net income ratio has decreased, suggesting reduced cash conversion efficiency. Despite these challenges, the company maintains positive operating cash flow.| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 183.34B | 195.61B | 218.94B | 263.31B | 184.63B | 119.70B |
| Gross Profit | 45.67B | 55.53B | 62.37B | 81.21B | 52.01B | 19.61B |
| EBITDA | 39.98B | 42.28B | 50.78B | 59.04B | 42.07B | 17.88B |
| Net Income | 14.16B | 15.76B | 21.38B | 20.53B | 16.03B | -7.24B |
Balance Sheet | ||||||
| Total Assets | 291.96B | 285.49B | 283.65B | 303.86B | 293.46B | 266.13B |
| Cash, Cash Equivalents and Short-Term Investments | 28.30B | 30.55B | 33.43B | 41.77B | 33.66B | 35.90B |
| Total Debt | 63.37B | 51.24B | 47.87B | 61.25B | 64.55B | 77.30B |
| Total Liabilities | 174.29B | 165.23B | 164.20B | 189.29B | 178.46B | 160.05B |
| Stockholders Equity | 115.28B | 117.86B | 116.75B | 111.72B | 111.74B | 103.70B |
Cash Flow | ||||||
| Free Cash Flow | 12.92B | 15.95B | 22.96B | 31.68B | 18.07B | 4.04B |
| Operating Cash Flow | 29.38B | 30.85B | 40.68B | 47.37B | 30.41B | 14.80B |
| Investing Cash Flow | -18.39B | -17.33B | -16.45B | -15.12B | -13.66B | -13.08B |
| Financing Cash Flow | -13.65B | -14.43B | -29.73B | -19.27B | -25.50B | 1.40B |
TotalEnergies SE Technical Analysis
Negative
53.51
Price Trends
54.67
Negative
52.91
Positive
51.84
Positive
Market Momentum
0.07
Positive
37.65
Neutral
17.07
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:TTE, the sentiment is Negative. The current price of 53.51 is below the 20-day moving average (MA) of 54.98, below the 50-day MA of 54.67, and above the 200-day MA of 51.84, indicating a neutral trend. The MACD of 0.07 indicates Positive momentum. The RSI at 37.65 is Neutral, neither overbought nor oversold. The STOCH value of 17.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:TTE.
TotalEnergies SE Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | €118.73B | 9.51 | 12.75% | 5.87% | -11.20% | -13.26% | |
77 Outperform | €1.16B | 5.39 | 21.70% | 6.70% | -14.28% | -9.30% | |
76 Outperform | €5.82B | 16.34 | 77.67% | 4.99% | 35.00% | 24.05% | |
75 Outperform | €837.00M | 15.04 | 4.13% | 47.20% | -8.54% | 47.48% | |
71 Outperform | €5.74B | 14.50 | ― | 2.64% | 17.19% | 11.76% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
* Energy Sector Average
FR:TTE
TotalEnergies SE
53.51
1.48
2.83%
FR:GTT
Gaztransport et technigaz
157.20
22.18
16.42%
FR:MAU
Etablissements Maurel & Prom
5.75
-0.18
-2.99%
FR:EC
Totalenergies EP Gabon
183.50
36.97
25.23%
FR:TE
Technip Energies NV
32.40
6.17
23.52%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.