TotalEnergies SE (FR:TTE)
:TTE
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TotalEnergies SE
(TTE)
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Rating:73Outperform
Price Target:
€88.00
▲(20.43% Upside)
Action:ReiteratedDate:05/01/26
The score is driven primarily by solid financial fundamentals tempered by weaker cash conversion/FCF volatility. Technicals add support with a clear uptrend and positive momentum. Valuation is favorable with a moderate P/E and strong dividend yield, while earnings-call guidance is constructive but balanced by near-term refining/LNG and geopolitical uncertainties.
Positive Factors
Cash generation and profitability
Large, sustained operating cash flow (~$28bn) and meaningful free cash flow (~€11bn TTM) provide durable capacity to fund capex, dividends, buybacks and strategic deals. This cash base supports capital allocation flexibility and resilience through commodity cycles over months to years.
Negative Factors
Cash conversion volatility
Weakened cash conversion and volatile free cash flow reduce predictability of internal funding and shareholder distributions. Lower OCF relative to profit implies working‑capital or timing drags that can constrain near‑term reinvestment and force reliance on balance‑sheet levers during adverse commodity swings.
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Positive Factors
Negative Factors
Cash generation and profitability
Large, sustained operating cash flow (~$28bn) and meaningful free cash flow (~€11bn TTM) provide durable capacity to fund capex, dividends, buybacks and strategic deals. This cash base supports capital allocation flexibility and resilience through commodity cycles over months to years.
Read all positive factors
TotalEnergies SE (TTE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€177.16B
Dividend Yield5.87%
Average Volume (3M)4.61M
Price to Earnings (P/E)8.6
Beta (1Y)0.34
Revenue Growth-11.10%
EPS Growth5.79%
CountryFR
Employees95,393
SectorEnergy
Sector Strength52
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)6.83
Shares Outstanding2,283,837,000
10 Day Avg. Volume4,152,678
30 Day Avg. Volume4,611,156
Financial Highlights & Ratios
PEG Ratio-1.12
Price to Book (P/B)1.28
Price to Sales (P/S)0.80
P/FCF Ratio13.57
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€82.48Price Target Upside12.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering18
EPS Forecast (FY)10.6
Revenue Forecast (FY)€197.93B
TotalEnergies SE Business Overview & Revenue Model
Company Description
TotalEnergies 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,...
How the Company Makes Money
TotalEnergies primarily makes money by producing, transforming, trading, and selling energy and related products across multiple business segments. (1) Upstream (Exploration & Production): It generates revenue from selling crude oil, natural gas, ...
TotalEnergies SE Earnings Call Summary
Earnings Call Date:Feb 11, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive picture: the company delivered solid 2025 financial and operational results (CFFO $28bn, strong ROACE/TSR), exceeded emissions targets (methane -65%), grew upstream and power businesses (upstream +4%, power ~+20%, renewables +8 GW), and advanced strategic deals (Namibia, EPH, NYSE listing). Challenges were noted but are largely operational or market-driven—one fatality in operations, near-term refining/chemical headwinds, LNG market softness and geopolitical/legal uncertainty around Russian LNG marketing. Management has set conservative 2026 planning assumptions (e.g., $60/bbl and TTF $10/MMBtu), tightened capex guidance ($15bn), launched a $12.5bn cash-savings program, and anchored a ~15% gearing target to address investor concerns. Overall, the positives (growth, decarbonization progress, deal pipeline, strong cash generation and capital discipline) outweigh the listed challenges.Positive Updates
Strong cash flow and profitability in 2025
Operating cash flow (CFFO) of $28 billion (in line with guidance); net adjusted income $15.6 billion; IFRS net income $13.1 billion; ROACE ~12.6%; total shareholder returns (TSR) best-in-class at 28% for 2025; shareholder distributions (dividend + buybacks) of $15.6 billion (~55% payout of CFFO).
Negative Updates
Workplace fatality and safety shortfall
One fatality in 2025 (Angola offloading incident). Company reinforced dock/supply-vessel procedures and physical barriers; while total recordable injury rate fell below 0.5 events/million man-hours, the fatality remains a significant safety failure and priority for corrective action.
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Q4-2025 Updates
Positive
Negative
Strong cash flow and profitability in 2025
Operating cash flow (CFFO) of $28 billion (in line with guidance); net adjusted income $15.6 billion; IFRS net income $13.1 billion; ROACE ~12.6%; total shareholder returns (TSR) best-in-class at 28% for 2025; shareholder distributions (dividend + buybacks) of $15.6 billion (~55% payout of CFFO).
Read all positive updates
Company Guidance
Management guided 2026 as a continuation year with broad targets: overall energy production +5% (oil & gas +3%), electricity net production +25 to ~60 TWh, LNG sales +6% (keeping >44 Mt) and renewable gross capacity rising to 34–42 GW. Financial guidance is CapEx $15bn (flexible to $14bn) with ~ $3bn to low‑carbon/integrated power, net M&A ≈ −$1bn, a cash‑savings program raised to $12.5bn (including $500m OpEx savings in 2026 of which ~$200m from Integrated Power) and additional procurement/offshoring savings >$100m. At $60/bbl Brent and $10/MMBtu gas they expect roughly $26bn CFFO and ~ $11bn free cash after $15bn CapEx; dividend breakeven ≈ $50/bbl, priority to maintain gearing ~15%, and a buyback range reset to $3–6bn (starting at the low end). Operational/emissions goals include accelerating methane cuts toward −70% in 2026 (−65% vs 2020 achieved in 2025) and lifecycle carbon intensity ~−19–20% vs 2015 en route to −25% by 2030; upstream growth is accretive (3% production → ~+7% upstream CFFO) and Integrated Power is expected to generate >$3bn CFFO and become free‑cash‑positive imminently.TotalEnergies SE Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
70
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 183.96B | 182.34B | 195.61B | 218.94B | 263.31B | 184.63B |
| Gross Profit | 56.76B | 51.85B | 55.53B | 62.37B | 81.21B | 52.01B |
| EBITDA | 43.05B | 38.85B | 42.28B | 50.78B | 59.04B | 42.07B |
| Net Income | 15.09B | 13.13B | 15.76B | 21.38B | 20.53B | 16.03B |
Balance Sheet | ||||||
| Total Assets | 314.23B | 291.09B | 285.49B | 283.65B | 303.86B | 293.46B |
| Cash, Cash Equivalents and Short-Term Investments | 29.83B | 29.54B | 30.55B | 33.43B | 41.77B | 33.66B |
| Total Debt | 63.94B | 61.04B | 51.24B | 47.87B | 61.25B | 64.55B |
| Total Liabilities | 189.13B | 173.55B | 165.23B | 164.20B | 189.29B | 178.46B |
| Stockholders Equity | 122.41B | 114.90B | 117.86B | 116.75B | 111.72B | 111.74B |
Cash Flow | ||||||
| Free Cash Flow | 11.04B | 10.81B | 15.95B | 22.96B | 31.68B | 18.07B |
| Operating Cash Flow | 28.34B | 28.46B | 30.85B | 40.68B | 47.37B | 30.41B |
| Investing Cash Flow | -17.19B | -18.57B | -17.33B | -16.45B | -15.12B | -13.66B |
| Financing Cash Flow | -8.75B | -10.64B | -14.43B | -29.73B | -19.27B | -25.50B |
TotalEnergies SE Technical Analysis
Neutral
73.07
Price Trends
70.95
Positive
63.36
Positive
57.23
Positive
Market Momentum
1.57
Positive
44.32
Neutral
43.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:TTE, the sentiment is Neutral. The current price of 73.07 is below the 20-day moving average (MA) of 77.65, above the 50-day MA of 70.95, and above the 200-day MA of 57.23, indicating a neutral trend. The MACD of 1.57 indicates Positive momentum. The RSI at 44.32 is Neutral, neither overbought nor oversold. The STOCH value of 43.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | €1.96B | 3.06 | 34.90% | 6.70% | -31.49% | 65.21% | |
73 Outperform | €177.16B | 8.58 | 12.75% | 5.87% | -11.10% | 5.79% | |
69 Neutral | €7.12B | 15.94 | ― | 2.64% | 7.22% | -6.61% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
62 Neutral | €804.05M | -5.71 | -5.05% | 6.89% | -36.65% | -187.32% | |
60 Neutral | €3.63B | 10.76 | 14.24% | 8.70% | -1.65% | -9.39% |
* Energy Sector Average
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TotalEnergies SE
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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.