Fossil Fuels Valuation Multiples and Public Comps

Fossil Fuels

See analyst estimates and all valuation multiples for Fossil Fuels

Company	EV	EV/LTM Revenue	EV/LTM EBITDA
Saudi Aramco	$1.57T	3.7x	7.0x
Exxon Mobil	$512B	1.5x	7.3x
Chevron	$349B	1.8x	8.2x
Shell	$255B	0.9x	4.3x
PetroChina	$227B	0.6x	3.6x
Reliance Industries	$225B	n/a	n/a
Enbridge	$181B	4.6x	12.9x
TotalEnergies	$171B	0.9x	4.2x
ConocoPhillips	$142B	2.4x	5.6x
China Petroleum	$142B	0.3x	5.3x
Petrobras	$134B	1.5x	3.2x
BP	$128B	0.7x	3.5x
Energy Transfer	$122B	1.5x	7.7x
CNOOC	$103B	1.8x	2.8x
Enterprise Products	$101B	1.9x	10.2x
Williams Companies	$98.4B	8.7x	13.1x
TC Energy	$97.0B	8.7x	12.2x
Kinder Morgan	$92.4B	5.7x	11.3x
China Shenhua Energy	$85.4B	1.9x	6.1x
Marathon Petroleum	$83.0B	0.6x	7.9x
ONEOK	$80.5B	2.8x	10.5x
Canadian Natural Resources	$77.3B	2.8x	6.1x
Occidental Petroleum	$77.0B	2.9x	5.7x
Cheniere Energy	$76.9B	4.0x	11.5x
Eni	$74.3B	0.8x	3.8x
Phillips 66	$73.9B	0.5x	10.5x
MPLX	$72.2B	5.9x	10.4x
Equinor	$71.9B	0.7x	1.8x
EOG Resources	$67.5B	2.9x	5.5x
ADNOC Gas	$65.8B	3.4x	8.3x
SLB	$64.9B	1.8x	7.5x
Venture Global	$59.8B	5.5x	12.0x
Suncor Energy	$58.2B	1.6x	5.2x
Diamondback Energy	$58.0B	4.5x	6.3x
Valero Energy	$53.3B	0.4x	8.5x
Targa Resources	$52.8B	2.9x	11.6x
ONGC	$51.7B	0.7x	4.6x
Baker Hughes	$47.7B	1.7x	10.3x
Imperial Oil	$46.9B	1.3x	8.3x
PTT	$46.5B	0.5x	3.9x
Ecopetrol	$45.4B	1.5x	3.6x
Cheniere Energy Partners	$41.5B	4.0x	11.3x
Woodside Energy	$40.5B	3.2x	4.5x
EQT Corporation	$40.1B	5.4x	8.0x
Dian Swastatika Sentosa	$37.8B	n/a	n/a
IndianOil	$37.4B	0.4x	7.7x
SK Innovation	$37.4B	0.7x	16.1x
Cenovus Energy	$35.3B	0.9x	5.2x
Pembina Pipeline	$32.6B	5.8x	10.4x
Devon Energy	$30.1B	1.8x	4.0x
ENEOS Holdings	$27.6B	0.3x	6.8x
Expand Energy	$27.5B	3.0x	6.4x
Orlen	$26.6B	0.3x	2.8x
ADNOC Drilling Company	$26.0B	5.8x	12.1x
Halliburton	$25.9B	1.2x	6.0x
Repsol	$25.0B	0.4x	2.9x
Inpex	$23.7B	1.7x	2.7x
Coterra Energy	$22.8B	3.3x	5.1x
YPF	$22.2B	1.3x	4.8x
Western Midstream	$21.8B	5.8x	9.0x
Santos	$21.6B	4.0x	6.0x
Aker BP	$21.4B	1.9x	2.1x
Texas Pacific	$21.1B	27.1x	31.8x
Plains All American Pipeline	$21.1B	0.4x	7.5x
Bharat Petroleum	$20.7B	0.4x	6.6x
OMV	$19.2B	0.5x	2.4x
Neste	$19.1B	0.8x	12.3x
Ovintiv	$17.4B	2.1x	4.0x
Galp Energia	$16.8B	0.7x	4.9x
Tourmaline Oil	$16.5B	3.6x	6.3x
Tenaris	$16.3B	1.3x	5.4x
AltaGas	$16.2B	1.8x	12.3x
TechnipFMC	$15.8B	1.6x	9.5x
Idemitsu Kosan	$15.5B	0.3x	9.0x
Sunoco	$15.4B	0.7x	8.5x
PTTEP	$13.9B	1.5x	2.1x
DT Midstream	$13.9B	12.0x	12.9x
Vår Energi	$13.8B	n/a	n/a
Permian Resources	$13.7B	2.7x	3.6x
Antero Resources	$13.4B	2.7x	8.4x
APA	$12.9B	1.4x	2.4x
SBM Offshore	$12.7B	2.3x	7.5x
ARC Resources	$12.5B	2.9x	5.1x
Plains GP Holdings	$12.2B	0.2x	4.3x
Nakilat	$11.8B	11.7x	14.6x
HF Sinclair	$11.8B	0.4x	7.6x
Whitecap Resources	$11.7B	3.2x	5.7x
Antero Midstream	$11.6B	10.0x	10.6x
Quinenco	$11.4B	1280.6x	n/a
HD Hyundai	$11.3B	0.2x	2.6x
Capital Power	$11.3B	4.6x	10.4x
Formosa Petrochemical	$11.2B	0.6x	20.7x
Cosan	$11.1B	0.4x	2.8x
National Fuel Gas	$10.5B	4.4x	7.5x
COSCO SHIPPING Energy	$10.4B	3.1x	7.7x
OMV Petrom	$10.4B	1.3x	5.4x
China Merchants Energy	$10.3B	2.8x	7.1x
Keyera	$10.0B	2.0x	11.5x
Oil India	$9.9B	3.9x	8.8x
Matador Resources	$9.6B	2.7x	4.0x
Range Resources	$9.5B	3.4x	6.9x
S-Oil	$9.4B	0.4x	12.0x
Parkland	$9.2B	0.5x	7.1x
Hess Midstream	$9.1B	5.7x	7.4x
Transocean	$9.0B	2.4x	7.2x
China Oilfield Services	$9.0B	1.3x	5.5x
PRIO	$8.9B	3.5x	5.4x
MOL Group	$8.8B	0.3x	2.6x
Civitas Resources	$8.7B	1.8x	2.6x
Royal Vopak	$8.6B	5.3x	7.9x
Harbour Energy	$8.6B	1.0x	1.5x
Shaanxi Energy Investment	$8.0B	2.6x	6.8x
NextDecade	$8.0B	n/a	-45.4x
Frontline	$7.9B	5.2x	8.0x
Comstock Resources	$7.8B	4.6x	7.4x
Icahn Enterprises	$7.8B	0.9x	n/a
Viper Energy	$7.8B	6.4x	7.1x
DCC	$7.7B	0.3x	6.5x
Sinopec Oilfield Service	$7.7B	0.6x	n/a
Ades Holding	$7.6B	4.5x	8.6x
CMB.Tech	$7.6B	5.4x	9.4x
Strathcona Resources	$7.6B	2.5x	5.8x
Cosmo Energy Holdings	$7.4B	0.4x	5.8x
Chord Energy	$7.3B	1.6x	3.1x
Tüpraş	$7.3B	0.4x	5.5x
Guangzhou Development Group	$7.1B	1.1x	n/a
Seatrium	$7.1B	0.9x	11.2x
Archrock	$7.0B	5.1x	9.3x
Centrica	$6.9B	0.2x	3.2x
Guanghui Energy	$6.9B	1.4x	7.0x
CNX Resources	$6.9B	4.1x	6.1x
Romgaz	$6.8B	3.7x	6.9x
Delek Group	$6.8B	1.9x	n/a
Subsea 7	$6.8B	0.9x	5.2x
Ampol	$6.7B	0.3x	8.0x
Grupo Ultra	$6.6B	0.3x	5.7x
Vista Energy	$6.6B	3.1x	4.7x
Kinetik Holdings	$6.6B	3.7x	6.4x
NewMed Energy	$6.5B	7.2x	n/a
Gaztransport & Technigaz	$6.4B	7.4x	11.4x
Banpu	$6.3B	1.2x	5.5x
INA-Industrija Nafte	$6.3B	n/a	n/a
NOV Inc.	$6.2B	0.7x	6.0x
Saipem	$6.1B	0.4x	3.4x
HELLENiQ ENERGY	$6.1B	0.4x	6.1x
Jereh Group	$6.0B	2.8x	10.2x
Crescent Energy	$5.9B	1.7x	3.1x
SM Energy	$5.9B	1.9x	2.7x
Worley	$5.8B	0.7x	9.0x
Viva Energy Australia	$5.8B	0.3x	13.0x
MEG Energy	$5.8B	1.7x	6.3x
PBF Energy	$5.8B	0.2x	-109.2x
Kodiak Gas Services	$5.7B	4.5x	8.4x
Ithaca Energy	$5.7B	2.1x	3.1x
Golar LNG	$5.7B	16.1x	22.5x
Motor Oil (Hellas)	$5.6B	0.4x	5.1x
USA Compression	$5.5B	5.6x	9.2x
Energean	$5.4B	3.1x	4.7x
Thaioil	$5.4B	0.4x	7.7x
Weatherford	$5.4B	1.1x	4.7x
Murphy Oil	$5.3B	1.9x	3.5x
Genesis Energy	$5.2B	2.6x	9.1x
California Resources	$5.2B	1.6x	4.4x
Rubis	$5.2B	0.7x	6.1x
Gibson Energy	$5.0B	0.7x	11.5x
Yinson	$5.0B	3.5x	7.4x
CNOOC Energy Technology	$4.9B	0.6x	5.2x
Kunlun Energy	$4.9B	0.2x	2.1x
Northern Oil & Gas	$4.9B	2.2x	3.1x
Magnolia Oil & Gas	$4.8B	3.6x	5.1x
Technip Energies	$4.8B	0.6x	6.4x
Bangchak Corporation	$4.7B	0.3x	4.0x
Brava Energia	$4.7B	2.3x	5.1x
MedcoEnergi	$4.7B	2.0x	3.9x
Delek Logistics	$4.6B	4.6x	9.7x
PetroVietnam Gas	$4.5B	1.1x	7.0x
CVR Energy	$4.3B	0.6x	12.7x
Delek US Holdings	$4.2B	0.4x	10.3x
Transportadora de Gas del Sur	$4.2B	3.6x	6.8x
PrairieSky Royalty	$4.2B	11.4x	12.5x
Valaris	$4.2B	1.8x	7.8x
Navitas Petroleum	$4.2B	n/a	n/a
MyMesra	$4.1B	0.5x	8.8x
PTT Oil and Retail	$4.1B	0.2x	7.3x
Helmerich & Payne	$4.1B	1.1x	4.5x
Diversified Energy	$4.0B	3.9x	7.3x
Luberef	$4.0B	1.6x	12.4x
Mangalore Refinery	$3.9B	0.4x	11.4x
SK Gas	$3.8B	0.7x	8.7x
Global Partners	$3.8B	0.2x	9.3x
Gulfport Energy	$3.8B	3.0x	4.5x
Woqod	$3.7B	n/a	n/a
Petronet LNG	$3.7B	0.6x	5.8x
Kosmos Energy	$3.7B	2.4x	4.4x
Calumet	$3.6B	0.9x	15.3x
Peyto	$3.6B	4.0x	5.1x
Aegis Vopak Terminals	$3.5B	40.7x	53.7x
Alliance Res Partners	$3.4B	1.5x	5.0x
Patterson-UTI	$3.3B	0.7x	3.4x
Sable Offshore	$3.3B	n/a	-23.9x
Equital	$3.2B	n/a	n/a
Tidewater	$3.2B	2.4x	5.7x
Baytex Energy	$3.2B	1.2x	2.3x
Par Pacific Holdings	$3.2B	0.4x	10.8x
Topaz Energy	$3.1B	12.7x	13.2x
OGDC	$3.1B	n/a	n/a
Vital Energy	$3.1B	1.6x	2.3x
Warrior Met Coal	$3.0B	2.2x	10.6x
TerraVest Industries	$2.9B	3.0x	16.4x
Scorpio Tankers	$2.9B	2.9x	4.4x
Aegis Logistics	$2.9B	3.7x	22.1x
Petrol Group	$2.9B	n/a	n/a
TORM	$2.8B	2.9x	4.4x
Flex LNG	$2.8B	8.0x	10.5x
Oceaneering	$2.8B	1.0x	7.3x
Black Stone Minerals	$2.7B	6.1x	7.7x
International Seaways	$2.7B	3.2x	5.5x
Talos Energy	$2.6B	1.4x	2.2x
Vermilion Energy	$2.5B	1.7x	3.2x
Modec	$2.5B	0.6x	5.9x
Cactus	$2.5B	2.3x	7.1x
Arabian Drilling	$2.5B	2.6x	6.7x
Jiangxi Jovo Energy Co	$2.5B	0.8x	8.0x
Tamarack Valley Energy	$2.5B	2.1x	3.5x
International Petroleum	$2.4B	3.5x	9.2x
Odfjell Drilling	$2.4B	2.8x	5.9x
Shanghai Petrochemical	$2.4B	0.2x	7.5x
DNO	$2.3B	1.8x	3.1x
Genesis Energy New Zealand	$2.3B	1.1x	8.6x
Liberty Energy	$2.3B	0.6x	3.2x
NuVista Energy	$2.3B	2.4x	4.3x
Mach Natural Resources	$2.3B	2.1x	3.6x
BlueNord	$2.2B	2.3x	4.0x
TGS	$2.2B	1.5x	2.6x
BKV Corporation	$2.2B	2.7x	6.7x
DHT Holdings	$2.1B	5.6x	7.5x
Athabasca Oil Corporation	$2.1B	2.2x	4.9x
AKSA Enerji	$2.0B	n/a	n/a
Fugro	$2.0B	0.8x	4.6x
Tsakos Energy Navigation	$2.0B	3.0x	5.0x
Beach Energy	$2.0B	1.5x	2.8x
HighPeak Energy	$2.0B	2.1x	2.6x
Atlas Energy Solutions	$1.9B	1.7x	7.0x
ProFrac	$1.9B	0.9x	4.8x
World Kinect	$1.9B	0.0x	5.4x
BW Offshore	$1.9B	3.6x	6.7x
Navigator Gas	$1.9B	3.4x	6.4x
Advantage Energy	$1.8B	3.6x	6.4x
MRC Global	$1.8B	0.6x	9.0x
Dorian LPG	$1.8B	4.7x	8.2x
Excelerate Energy	$1.8B	1.9x	4.5x
Kimbell Royalty Partners	$1.7B	5.3x	6.3x
Paramount Resources	$1.7B	2.2x	2.2x
Ramaco Resources	$1.7B	2.9x	23.2x
Birchcliff Energy	$1.7B	3.3x	5.6x
LandBridge	$1.7B	10.1x	11.4x
Afriquia Gaz	$1.7B	1.7x	9.7x
CrossAmerica Partners	$1.6B	0.5x	11.5x
Fluxys Belgium	$1.6B	2.2x	4.5x
Organizacion Terpel	$1.5B	n/a	n/a
Alpha Metallurgical	$1.5B	0.6x	6.4x
Bukit Asam	$1.5B	0.6x	4.5x
National Gas	$1.5B	n/a	n/a
Viridien	$1.4B	1.2x	3.0x
Expro	$1.4B	0.9x	4.2x
Natural Resources	$1.4B	n/a	n/a
Wood	$1.4B	0.2x	3.0x
Aker Solutions	$1.4B	0.3x	3.1x
Nanjing Tanker	$1.4B	1.7x	4.2x
Dana Gas	$1.4B	4.1x	5.7x
Petrolimex	$1.3B	0.1x	7.2x
Helix Energy Solutions	$1.3B	1.0x	5.1x
COOEC	$1.2B	0.3x	2.1x
Innovex International	$1.2B	1.4x	7.3x
National Energy Services	$1.2B	0.9x	3.9x
Dorchester Minerals	$1.2B	n/a	n/a
Select Water	$1.2B	0.8x	4.6x
Vitesse Energy	$1.1B	4.1x	6.5x
CIMC Enric	$1.1B	0.3x	4.1x
Headwater Exploration	$1.1B	2.6x	4.0x
Teekay Tankers	$1.0B	1.5x	3.1x
Maurel & Prom	$1.0B	1.5x	3.2x
Granite Ridge Resources	$990M	2.2x	3.1x
RPC Inc.	$971M	0.6x	4.2x
SunCoke Energy	$964M	0.6x	4.1x
Capex	$918M	n/a	n/a
JANAF	$840M	n/a	n/a
TXO Partners	$783M	2.2x	5.5x
Tetra Technologies	$775M	1.3x	7.4x
Gas Arabian Services	$754M	2.6x	28.8x
Hallador Energy	$748M	1.8x	22.0x
GeoPark	$726M	1.4x	2.2x
2G Energy	$723M	1.5x	13.5x
Clean Energy Fuels	$710M	1.7x	10.7x
Core Laboratories	$687M	1.3x	9.3x
Archer	$676M	0.5x	4.5x
Empresas Lipigas	$654M	n/a	n/a
Star Group	$651M	n/a	n/a
Berry Corp	$651M	0.9x	2.5x
Martin Midstream Partners	$627M	0.9x	5.7x
Sea1 Offshore	$615M	2.0x	3.9x
SBO	$608M	1.0x	5.6x
Greenfire Resources	$546M	n/a	n/a
Prosafe	$508M	3.6x	20.0x
W&T Offshore	$501M	0.9x	3.3x
VAALCO Energy	$489M	1.2x	2.3x
KN Energies	$450M	n/a	n/a
Oil States International	$420M	0.6x	5.0x
Sinopec Kantons Holdings	$402M	4.7x	2.8x
American Resources	$397M	n/a	n/a
Deutsche Rohstoff	$391M	1.7x	2.4x
Dynagas LNG Partners	$385M	2.6x	n/a
Tamboran Resources	$365M	125.5x	-17.8x
Okea	$352M	0.4x	0.6x
Petrolina (Hldgs)	$351M	n/a	n/a
Reach Subsea	$349M	1.3x	3.0x
NACCO Industries	$346M	1.5x	n/a
SandRidge Energy	$332M	2.3x	3.9x
KLX Energy Services Hldgs	$324M	0.5x	4.3x
Akastor	$307M	6.0x	12.6x
Amplify Energy	$300M	1.0x	3.2x
Gas Plus	$297M	n/a	n/a
PrimeEnergy Resources	$263M	n/a	n/a
Deep Value Driller	$261M	4.6x	4.9x
Infinity Natural Resources	$256M	0.8x	1.1x
HMS Bergbau	$254M	0.2x	10.9x
La Francaise de l'Energie	$234M	6.3x	11.1x
Geospace Technologies	$229M	n/a	n/a
Kolibri Global Energy	$226M	3.6x	4.7x
Makpetrol	$213M	n/a	n/a
OMS Energy Technologies	$207M	1.0x	3.4x
Awilco LNG	$206M	n/a	n/a
Bumech	$197M	n/a	n/a
Uni-Fuels	$184M	n/a	n/a
A.b.p. Nocivelli	$169M	1.6x	8.8x
Drilling Tools Intl	$150M	1.0x	4.1x
Eidesvik Offshore	$146M	n/a	n/a
AleAnna	$144M	n/a	n/a
Conpet	$137M	n/a	n/a
Smart Sand	$122M	0.4x	3.1x
Vivakor	$120M	1.3x	n/a
Epsilon Energy	$120M	3.8x	n/a
Oil Terminal	$119M	n/a	n/a
NorAm Drilling	$108M	1.1x	5.2x
Daldrup & Söhne	$88.7M	1.4x	9.3x
Delixy Holdings	$88.4M	n/a	n/a
NCS Multistage Holdings	$85.1M	0.5x	3.6x
TMD Energy	$84.6M	n/a	n/a
Docks Petroles d Ambes	$83.8M	n/a	n/a
Dolphin Drilling	$80.2M	0.6x	14.5x
Stabilis Solutions	$71.8M	1.0x	7.7x
Pyxis Tankers	$68.6M	1.6x	3.9x
Maha Capital	$61.8M	10.2x	-10.8x
Robit	$52.4M	0.5x	7.2x
Recon Technology	$49.7M	n/a	n/a
InterOil Exploration	$43.3M	n/a	n/a
ElectroMagnetic	$36.0M	n/a	n/a
Onico	$32.6M	n/a	n/a
Rompetrol Well Servs	$29.1M	n/a	n/a
Toplivo	$23.1M	n/a	n/a
Petrolia	$20.9M	n/a	n/a
Ecoslops	$17.7M	n/a	n/a
Atlantic Petroleum	$12.5M	n/a	n/a
Robin Energy	$11.8M	n/a	n/a
Acceleware	$9.7M	n/a	n/a
Oil and Gas Explr and Pro	$8.2M	n/a	n/a
Hunter Group	$7.9M	n/a	n/a
Clean & Carbon Energy	$3.0M	n/a	n/a
Igrene	$2.0M	n/a	n/a
PTL Limited	$1.6M	n/a	n/a
Condmag	-$1.0M	n/a	n/a
S.D. Standard ETC	-$5.4M	n/a	n/a
Mammoth Energy Services	-$7.8M	-0.0x	n/a
LW Bogdanka	-$72.2M	-0.1x	-0.3x
Imperial Ptrl	-$109M	-0.7x	-2.0x
Teekay	-$179M	n/a	n/a
Esso	-$220M	n/a	n/a