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TotalEnergies SE (TTE)

TotalEnergies produces oil and natural gas, liquefies and sells gas, generates and sells electricity, refines and makes chemicals, and markets petroleum products. It reports in five business segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals and Marketing & Services. Exploration and production is conducted in about 50 countries. Figures are stated in US dollars except where the filing gives a euro amount. Hydrocarbon production averaged 2,529 thousand barrels of oil equivalent a day in 2025, up nearly 4% on 2024.

TotalEnergies SE

TotalEnergies produces oil and natural gas, liquefies and sells gas, generates and sells electricity, refines and makes chemicals, and markets petroleum products. It reports in five business segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals and Marketing & Services. Exploration and production is conducted in about 50 countries. Figures are stated in US dollars except where the filing gives a euro amount. Hydrocarbon production averaged 2,529 thousand barrels of oil equivalent a day in 2025, up nearly 4% on 2024.

Exploration & Production

The segment produced 1,990 kboe/d in 2025, being 1,467 kb/d of liquids and 2,794 million cubic feet a day of gas. Seven projects started up or ramped up during the year: Mero-2, Mero-3 and Mero-4 in Brazil, Anchor and Ballymore in the United States, Fenix in Argentina and Tyra in Denmark. The average liquids price realised was $66.2 a barrel, 14% below 2024, and production costs were held at $5 a barrel. Adjusted net operating income was 16% lower than in 2024. The reserve replacement rate was 116% and the company states that proven reserves life remains above 12 years.

Integrated LNG

The LNG segment covers the integrated gas chain plus biogas and gas trading. Production for LNG was 539 kboe/d in 2025 against 487 kboe/d in 2024. Overall LNG sales were 43.9 million tonnes, of which 15.1 Mt came from equity production. The average realised LNG price was $9.14 per million British thermal units, 7% below 2024. Adjusted net operating income was 16% lower than in 2024. During the year the company took the investment decision for Train 4 of the Rio Grande LNG project, including the purchase of 1.5 Mt a year of LNG, and bought upstream gas interests in the Anadarko Basin.

Integrated Power

Integrated Power covers generation, storage, electricity trading and gas and electricity distribution to business and consumer customers. Net power production was 48.1 TWh in 2025, up 17%, of which 31.4 TWh came from renewables and 16.7 TWh from gas flexible capacities. Net installed generation capacity was 26.0 GW at the end of the year, 19.0 GW of it renewable, and gross installed renewable capacity reached 34.1 GW, up 31%, within a gross renewable portfolio of 108.7 GW. It served 6.0 million power customers and 2.7 million gas customers, selling them 48.8 TWh of power and 89.2 TWh of gas. The company agreed with EPH to acquire 50% of a flexible power generation portfolio with more than 14 GW of gross capacity, and recycled $2 billion of capital by selling 50% of a 2.7 GW portfolio.

Downstream

Downstream is Refining & Chemicals, holding refining, petrochemicals, specialty chemicals, oil supply and trading, maritime transport and hydrogen, plus Marketing & Services, the marketing of petroleum products worldwide. Refinery throughput was 1,526 kb/d in 2025, of which 470 kb/d in France, 606 kb/d in the rest of Europe and 449 kb/d in the rest of the world, at a crude utilisation rate of 86%. Monomer production was 4,967 kilotonnes and polymer production 4,658 kilotonnes, with steam crackers running at 79%. The European Refining Margin marker averaged $7.1 a barrel against $5.3 in 2024. Adjusted net operating income rose 10%, which the filing attributes to higher refining margins offsetting a decline in petrochemical margins. Petroleum product sales were 1,276 kb/d in 2025, of which 743 kb/d in Europe and 533 kb/d in the rest of the world, 5% lower than 2024 as the portfolio was focused on higher margin activities, where better unit margins left segment income level with the prior year.

Capital and payout

Gearing ended the year at 15%. The company bought back 122,637,294 of its own shares on the market during 2025, 5.56% of the share capital at 31 December 2025, of which 116,292,328 were for cancellation. The board is putting a final 2025 dividend of €0.85 a share to the shareholders' meeting of 29 May 2026, which would take the full year to €3.40 a share, 5.6% above the 2024 dividend.

From TotalEnergies' annual report on Form 20-F for the year ended 31 December 2025. That filing answers Item 4, the business description, with page references to a document attached to it rather than with text, so this description is written from Item 5, the operating and financial review, alone. The filing

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TotalEnergies SE files a 20-F with the SEC once a year, in US dollars. In the year to 31 December 2025 it reported revenue of USD 201,196 million, down 6.2% on the year before. Its profit attributable to shareholders was USD 13,127 million, down 16.7%, and diluted earnings per share USD 5.78.

TotalEnergies (TTE) in brief

TotalEnergies (TTE) reported revenue of USD 201 billion for the year to 31 December 2025, down 6.2% on the year before.
Read moreProfit attributable to shareholders was USD 13.1 billion and diluted earnings per share USD 5.78. Revenue was USD 215 billion in 2024, USD 237 billion in 2023, USD 281 billion in 2022 and USD 206 billion in 2021. Profit attributable to shareholders in the same years was USD 15.8 billion, USD 21.4 billion, USD 20.5 billion and USD 16.0 billion. Revenue grew 7.4% a year, compounded, over the five years to 2025. At the close of 10 November 2026 the market cap of TotalEnergies was $193.9 billion, 15.2 times its earnings for 2025.

The share in the US

Last close$87.88 on 10 November 2026
52-week range$62.74 (7 January 2026) to $95.36 (30 October 2026)
Over one yearup 38.5%
Market cap$193.9 billion: 2,206,585,543 shares outstanding at 31 December 2025 (20-F), each US share standing for one ordinary share
P/E, latest fiscal year15.2: the last close over diluted EPS for the year to Dec 2025, USD 5.78 per ordinary share. The company reports once a year, so this is the latest fiscal year, not the last four quarters.

US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.

Ratios

From the latest annual report, the year to Dec 2025, in dollars

ROE11.4%
ROCEn/a
Operating marginn/a
Net margin6.5%
FCF marginn/a
Interest covern/a
Debt to equity0.53
Cash conversion2.08
Share count, last 12 monthsn/a
Sales CAGR, 3 years-10.5%
Profit CAGR, 3 years-13.8%
EPS$5.78

At the close of 10 November 2026

Price$87.88
Market cap$193.9 billion
Stock P/E15.20
Price to book1.69
EV / EBITDAn/a
Dividend yield4.2%
Market cap / sales0.96
52-week high$95.36
52-week low$62.74
Price, 1 year38.5%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of TotalEnergies SE's balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
TTEgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed. Sales and margin are each year's revenue and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet and its share count per US share. The dashed line is the median over the range shown. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on TTE

Dividends$8.12 billion paid in cash dividends in FY2025
Filings27 in twelve months: 21 reports on Form 6-K, most often disclosure of Transactions in Own Shares (4); operating and financial review and prospects (4); renewables in Europe: TotalEnergies Acquires Shell’s Renewables Business and Sells a 50% Stake in a Portfolio of Developed Assets to KKR (1); malaysia: TotalEnergies Divests its Minority Non-Operated Interest in Marjoram Gas Field (1); déclaration des Transactions sur Actions Propres (1)
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.91 by open interest at the 10 November 2026 close; the straddle prices a 3.6% move to 20 November 2026
13F holders1,018 funds reported a position for the quarter to 30 June 2026; largest Amundi
Congress0 House trades disclosed in six months
Short interest4.2 million shares short, 2.26 days to cover at 30 October 2026

Income statement (profit and loss), 11 fiscal years

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Revenue143,421127,925149,099209,363200,316140,685205,863280,999237,128214,550201,196
Cost of sales96,67183,37799,411125,816116,221n/an/an/an/an/an/a
Research and development9801,050912986968895824762774805810
Operating profit2,6945,4597,75516,01716,257-6,31524,82250,553n/an/an/a
Income tax1,6539703,0296,5165,8723189,58722,24213,30110,7759,092
Profit for the year4,7866,2068,29911,55011,438-7,33616,36621,04421,51016,03113,357
Profit attributable to shareholders5,0876,1968,63111,44611,267-7,24216,03220,52621,38415,75813,127
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
USD million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed.
Read moreA line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Dec 2018, Dec 2019); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.
Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Diluted EPS2.162.513.344.244.17-2.905.927.858.676.695.78
Basic EPS2.172.523.364.274.20-2.905.957.918.726.745.84
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

USD per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.

Revenue by segment

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Share
of the parts, latest year
Refining & Chemicals92,02587,59856,61587,600121,618101,20393,51587,20743.3%
Marketing & Services90,20687,28063,45180,288100,66189,90983,34178,70839.1%
Integrated Powern/an/an/a15,80127,45327,33722,12719,5879.7%
Integrated LNGn/an/an/a14,90321,30012,0869,88510,0965.0%
Exploration & Production9,8897,2614,9737,2469,9426,5615,6555,5902.8%
Corporate7.010.017.025.025.032.027.08.0under 0.1%
Integrated Gas, Renewables & Power17,23618,16715,629n/an/an/an/an/an/a
Refining & ChemicalsMarketing & ServicesIntegrated Power FY2021 to FY2025Integrated LNG FY2021 to FY2025Exploration & ProductionCorporateIntegrated Gas, Renewables & Power FY2018 to FY2020
209.4Dec 2018200.3Dec 2019140.7Dec 2020205.9Dec 2021281.0Dec 2022237.1Dec 2023214.6Dec 2024201.2Dec 2025

USD billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

USD million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Revenue by region

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025Share
of the parts, latest year
Rest of Europe99,46599,17667,29285,072122,64197,66289,07790,55845.0%
France47,71643,87732,74843,31658,41155,61049,26945,86622.8%
Rest of the world17,67616,01411,37634,95742,17739,92836,38830,29715.1%
Africa22,26321,30316,01119,52024,58221,70921,90120,0129.9%
North America22,24319,94613,25822,99833,18822,21917,91514,4637.2%
Rest of EuropeFranceRest of the worldAfricaNorth America
209.4Dec 2018200.3Dec 2019140.7Dec 2020205.9Dec 2021281.0Dec 2022237.1Dec 2023214.6Dec 2024201.2Dec 2025

USD billion; hover a block for its figure and share

USD million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.

Cash flow statement

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Cash from operations19,94616,52122,31924,70324,68514,80330,41047,36740,67930,85427,343
Cash from investing-20,449-17,653-11,632-14,946-17,177-13,079-13,656-15,116-16,454-17,332-18,131
Cash from financing1,0603,532-5,540-13,925-7,7091,398-25,497-19,272-29,730-14,425-9,934
Buybacks237n/an/a4,3282,8106111,8237,7119,1677,9957,714
Dividends paid2,8452,6612,6434,9136,6416,6888,2289,9867,5177,7178,121
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
USD million, from the cash flow statement as filed.
Read morePurchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.

Balance sheet at year end

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Funded by
Equity attributable to shareholders92,49498,680111,556115,640116,778103,702111,736111,724116,753117,858114,883
Non-controlling interests2,9152,8942,4812,4742,5272,3833,2632,8462,7002,3972,640
Borrowings, as filed56,95256,98752,43653,43562,59277,30264,54760,76650,06853,55761,033
Lease liabilitiesn/an/an/an/a7,4658,9439,0349,7149,4779,9179,927
Other liabilities72,12372,41776,15885,21383,93273,802104,878118,814104,656101,758102,572
Total equity and liabilities224,484230,978242,631256,762273,294266,132293,458303,864283,654285,487291,055
Owned
Property, plant and equipment109,518111,971109,397113,324116,408108,335106,559107,101108,916109,095114,694
Goodwilln/a1,1571,4278,1748,3468,8078,8298,6509,95111,26512,501
Cash and cash equivalents23,26924,59733,18527,90727,35231,26821,34233,02627,26325,84426,202
Inventories13,11615,24716,52014,88017,13214,73019,95222,93619,31718,86816,663
Other assets78,58178,00682,10292,477104,056102,992136,776132,151118,207120,415120,995
Total assets224,484230,978242,631256,762273,294266,132293,458303,864283,654285,487291,055
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F
USD million, at each fiscal year end.
Read moreBoth totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.

Ratios on the filed lines

Year toDec 2015Dec 2016Dec 2017Dec 2018 †Dec 2019 †Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024Dec 2025
Operating margin1.9%4.3%5.2%7.7%8.1%-4.5%12.1%18.0%n/an/an/a
Net margin3.5%4.8%5.8%5.5%5.6%-5.1%7.8%7.3%9.0%7.3%6.5%
Return on year-end equity5.5%6.3%7.7%9.9%9.6%-7.0%14.3%18.4%18.3%13.4%11.4%
Filing20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F20-F

Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.

Questions

What was TotalEnergies' revenue in 2025?

TotalEnergies (TTE) reported revenue of USD 201 billion for the year to 31 December 2025, down 6.2% on the year before.

How much did TotalEnergies earn in 2025?

Profit attributable to shareholders was USD 13.1 billion for the year to 31 December 2025, and diluted earnings per share USD 5.78.

What is TotalEnergies' P/E ratio?

At the close of 10 November 2026, TotalEnergies traded at 15.2 times its earnings for 2025.

What is TotalEnergies' market cap?

The market cap of TotalEnergies was $193.9 billion at the close of 10 November 2026.

Peers: Petroleum and Natural Gas

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Shell plc SHEL *$276.8 billion16.2110.2%n/a-6.1%0.433.1%
TotalEnergies SE TTE *$193.9 billion15.2011.4%n/a-6.2%0.534.2%
Petróleo Brasileiro S.A. (Petrobras) PBR *$117.6 billion6.0026.0%29.3%-2.4%0.356.9%
Canadian Natural Resources Limited CNQ *$100.4 billion13.1924.4%n/a8.7%0.373.5%
Eni S.p.A. E *$81.5 billion31.665.4%6.1%-7.5%0.594.3%
EOG Resources Inc. EOG$78.6 billion9.7924.7%35.8%31.7%0.242.7%
Occidental Petroleum Corp. OXY$56.9 billionn/an/an/an/a0.251.7%
Diamondback Energy, Inc. FANG$49.7 billion24.365.3%12.6%21.1%0.342.4%
Devon Energy Corp. DVN$49.5 billion10.868.6%16.2%27.1%0.252.6%
Woodside Energy Group Ltd. WDS *$40.1 billion14.847.6%30.0%-1.5%0.335.0%
EQT Corp. EQT$32.5 billion12.3310.4%41.8%18.6%0.221.3%
Expand Energy Corp. EXE$20.3 billion7.6214.1%25.7%28.2%0.242.6%
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TTM
Debt to equityDiv. yield
ExxonMobil Holdings Corp. XOM$670.8 billion16.8915.3%14.0%19.0%0.132.5%
Chevron Corp. CVX$415.1 billion15.4513.9%16.7%20.0%0.173.3%
Shell plc SHEL *$276.8 billion16.2110.2%n/a-6.1%0.433.1%
TotalEnergies SE TTE *$193.9 billion15.2011.4%n/a-6.2%0.534.2%
ConocoPhillips COP$160.3 billion14.2517.5%n/a13.3%0.352.5%
BP plc BP *$122.5 billionn/a0.1%6.6%-1.1%1.094.1%
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Marathon Petroleum Corp. MPC$106.1 billion7.6263.0%12.5%31.2%1.421.0%
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Suncor Energy Inc. SU *$80.9 billion19.7113.1%n/a-4.6%0.222.5%
EOG Resources Inc. EOG$78.6 billion9.7924.7%35.8%31.7%0.242.7%
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Dorchester Minerals, L.P. DMLP$1.4 billion13.18n/a49.8%38.2%n/an/a
Nabors Industries Ltd. NBR$1.3 billionn/a-6.8%14.0%4.8%3.57n/a
Kosmos Energy Ltd. KOS$1.3 billionn/a-68.9%-21.9%20.9%3.87n/a
RPC Inc. RES$1.2 billionn/a-3.0%-2.2%17.8%0.033.1%
Hornbeck Offshore Services, Inc. HOS$1.2 billionn/a-3.4%-2.8%-7.1%0.36n/a
Tamboran Resources Corp. TBN$994 millionn/a-3.3%n/an/a0.07n/a
Diversified Energy Co. DEC$947 million16.7411.0%14.7%n/a4.298.7%
Riley Exploration Permian, Inc. REPX$913 million8.9016.0%45.6%45.5%0.383.9%
Tetra Technologies Inc. TTI$884 million99.332.1%6.9%6.1%0.46n/a
HighPeak Energy, Inc. HPK$864 millionn/an/an/an/a0.782.3%
ProPetro Holding Corp. PUMP$840 millionn/a0.2%0.5%-6.0%0.86n/a
Infinity Natural Resources, Inc. INR$825 million8.3412.8%42.1%107.6%1.39n/a
Granite Ridge Resources, Inc. GRNT$795 millionn/a-9.7%13.7%24.2%0.857.3%
TXO Partners, L.P. TXO$761 millionn/an/a-23.7%-1.2%n/an/a
Atlas Energy Solutions Inc. AESI$669 millionn/a-13.0%-10.2%-3.7%0.9214.0%
ProFrac Holding Corp. ACDC$645 millionn/a-76.9%-12.0%-3.3%2.01n/a
Vitesse Energy, Inc. VTS$626 millionn/a-8.1%12.0%10.6%0.3312.6%
Vaalco Energy Inc. EGY$565 millionn/a-44.6%1.6%11.8%0.714.7%
Sandridge Energy Inc. SD$466 million4.7817.1%38.4%24.9%0.004.6%
W&T Offshore Inc. WTI$448 millionn/an/a5.0%20.3%n/a1.4%
Core Laboratories Inc. CLB$410 million22.955.6%7.5%-0.1%0.410.4%
Natural Gas Services Group Inc. NGS$372 million18.236.8%21.2%24.2%1.141.8%
Gran Tierra Energy Inc. GTE$336 millionn/a-308.1%-54.4%6.2%6.53n/a
Ring Energy, Inc. REI$296 millionn/a-25.1%-20.5%7.4%0.47n/a
Ranger Energy Services, Inc. RNGR$267 million17.325.1%3.9%16.9%0.000.5%
Pedevco Corp. PED$177 millionn/an/a14.0%229.4%0.00n/a
Epsilon Energy Ltd. EPSN$159 millionn/a-2.7%1.0%53.7%0.31n/a
Sable Offshore Corp. SOC$158 millionn/a-182.8%-111.9%n/a2.96n/a
Mammoth Energy Services, Inc. TUSK$157 million11.285.1%-10.6%-10.4%0.00n/a
Evolution Petroleum Corp. EPM$146 millionn/a-9.5%6.2%2.8%0.9213.3%
Amplify Energy Corp. AMPY$144 million6.915.9%23.0%-28.2%0.00n/a
Nine Energy Service, Inc. NINE$102 millionn/a61.5%-4.3%-4.4%0.78n/a
Empire Petroleum Corp. EP$101 millionn/a-974.5%-224.1%-20.8%2.07n/a
BIG SKY Industrial Inc. BSIN$69 millionn/a-31.7%-145.5%-30.4%0.25n/a
56 companies share its SEC industry code (Crude Petroleum & Natural Gas); the rest are the names nearest in size in its wider industry, Petroleum and Natural Gas, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Annual reports on EDGAR

FormYear toFiled
20-F31 December 202527 March 2026EDGAR
20-F31 December 202431 March 2025EDGAR
20-F31 December 202329 March 2024EDGAR
20-F31 December 202224 March 2023EDGAR
20-F31 December 202125 March 2022EDGAR
20-F31 December 202031 March 2021EDGAR
20-F/A31 December 201914 April 2020EDGAR
20-F31 December 201920 March 2020EDGAR
20-F/A31 December 201826 April 2019EDGAR
20-F31 December 201820 March 2019EDGAR
20-F31 December 201716 March 2018EDGAR
20-F31 December 201617 March 2017EDGAR