Fossil Fuels Valuation Multiples and Public Comps

Fossil Fuels

See analyst estimates and all valuation multiples for Fossil Fuels

Company	EV	EV/Revenue	EV/EBITDA
Saudi Aramco	$1.64T	3.8x	7.2x
Exxon Mobil	$463B	1.4x	6.5x
Chevron	$264B	1.4x	6.1x
Reliance Industries	$239B	2.1x	12.0x
Shell	$235B	0.8x	3.7x
PetroChina	$214B	0.5x	3.3x
Enbridge	$177B	4.7x	12.8x
TotalEnergies	$157B	0.8x	3.7x
China Petroleum	$136B	0.3x	5.0x
Petrobras	$130B	1.5x	3.2x
ConocoPhillips	$125B	2.1x	5.0x
Energy Transfer	$121B	1.4x	7.6x
BP	$112B	0.6x	3.0x
Williams Companies	$101B	8.9x	13.7x
Enterprise Products	$99.1B	1.7x	9.9x
TC Energy	$96.8B	8.6x	12.1x
Kinder Morgan	$94.9B	6.1x	11.7x
CNOOC	$94.3B	1.6x	2.6x
China Shenhua Energy	$89.8B	1.9x	6.2x
ONEOK	$82.3B	3.4x	11.2x
Marathon Petroleum	$77.5B	0.6x	7.5x
Canadian Natural Resources	$76.7B	2.8x	6.2x
Cheniere Energy	$74.2B	4.2x	11.5x
MPLX	$72.6B	5.9x	10.5x
Occidental Petroleum	$72.5B	2.7x	5.3x
Equinor	$69.5B	0.6x	1.7x
Eni	$65.9B	0.7x	3.4x
Phillips 66	$64.0B	0.5x	9.4x
ADNOC Gas	$63.3B	3.3x	8.0x
EOG Resources	$58.4B	2.5x	4.8x
Schlumberger	$55.6B	1.5x	6.2x
Venture Global	$54.9B	6.7x	14.3x
ONGC	$52.5B	0.7x	4.6x
Suncor Energy	$52.4B	1.5x	4.5x
Diamondback Energy	$52.4B	4.2x	6.2x
Targa Resources	$50.4B	2.7x	11.4x
Hess	$49.5B	4.0x	7.2x
Valero Energy	$46.7B	0.4x	7.6x
PTT	$45.0B	0.5x	3.7x
Ecopetrol	$43.7B	1.4x	3.4x
Cheniere Energy Partners	$42.5B	4.4x	11.6x
EQT Corporation	$41.3B	6.3x	9.0x
Baker Hughes	$39.8B	1.4x	8.6x
IndianOil	$39.7B	0.4x	9.0x
Imperial Oil	$38.1B	1.0x	6.8x
SK Innovation	$35.4B	0.6x	14.3x
Woodside Energy	$35.2B	2.7x	3.9x
Pembina Pipeline	$32.5B	6.0x	10.2x
Expand Energy	$32.5B	4.6x	9.0x
Cenovus Energy	$30.4B	0.7x	4.3x
Devon Energy	$27.7B	1.7x	3.7x
Texas Pacific	$27.2B	36.4x	43.2x
ADNOC Drilling Company	$25.2B	5.8x	12.1x
Orlen	$25.2B	0.3x	2.9x
ENEOS Holdings	$24.6B	0.3x	6.6x
Halliburton	$24.0B	1.1x	5.1x
YPF	$23.8B	1.3x	5.0x
Coterra Energy	$23.2B	3.7x	5.6x
Repsol	$21.6B	0.3x	2.6x
Bharat Petroleum	$21.5B	0.4x	7.1x
Western Midstream	$21.1B	5.8x	8.9x
Dian Swastatika Sentosa	$20.8B	n/a	n/a
Inpex	$20.5B	1.4x	2.2x
Plains All American Pipeline	$20.2B	0.4x	7.2x
Santos	$18.7B	3.4x	5.1x
Aker BP	$18.6B	1.5x	1.7x
OMV	$18.2B	0.5x	2.3x
Tourmaline Oil	$17.4B	3.7x	6.4x
Ovintiv	$16.2B	1.9x	3.7x
AltaGas	$15.9B	1.7x	12.3x
Antero Resources	$15.9B	3.3x	10.9x
Sunoco	$15.5B	0.7x	9.3x
Tenaris	$15.1B	1.2x	4.9x
Idemitsu Kosan	$14.4B	0.2x	6.5x
Galp Energia	$14.2B	0.6x	4.2x
DT Midstream	$13.9B	12.8x	13.4x
ARC Resources	$13.8B	3.3x	5.8x
TechnipFMC	$13.7B	1.5x	9.1x
Neste	$13.0B	0.6x	9.4x
Nakilat	$12.8B	12.1x	14.3x
Permian Resources	$12.4B	2.4x	3.3x
Vår Energi	$12.2B	1.5x	1.9x
Antero Midstream	$12.2B	10.7x	11.3x
Plains GP Holdings	$12.0B	0.2x	4.3x
SBM Offshore	$12.0B	2.1x	6.9x
APA	$11.7B	1.4x	2.1x
Quinenco	$11.5B	n/a	n/a
Cosan	$11.4B	0.4x	2.8x
PTTEP	$11.4B	1.2x	1.7x
Formosa Petrochemical	$11.0B	0.5x	17.7x
Oil India	$11.0B	2.6x	9.0x
Range Resources	$10.8B	4.0x	8.3x
HD Hyundai	$10.7B	0.2x	2.7x
National Fuel Gas	$10.3B	4.5x	7.6x
COSCO SHIPPING Energy	$10.2B	3.1x	7.5x
Comstock Resources	$10.0B	6.4x	9.9x
Keyera	$9.8B	1.9x	10.9x
China Merchants Energy	$9.6B	2.6x	6.4x
HF Sinclair	$9.5B	0.3x	7.6x
Parkland	$9.4B	0.5x	7.5x
Capital Power	$9.3B	3.6x	9.1x
MOL Group	$9.2B	0.4x	2.8x
S-Oil	$8.8B	0.3x	9.4x
Matador Resources	$8.8B	2.4x	3.7x
Harbour Energy	$8.7B	1.1x	1.7x
Transocean	$8.7B	2.4x	7.2x
PRIO	$8.7B	3.5x	5.1x
Whitecap Resources	$8.5B	2.5x	4.4x
China Oilfield Services	$8.4B	1.2x	5.2x
Royal Vopak	$8.3B	4.3x	7.1x
Hess Midstream	$7.9B	5.1x	6.7x
DCC	$7.7B	0.3x	6.1x
Civitas Resources	$7.7B	1.5x	2.2x
Shaanxi Energy Investment	$7.6B	2.4x	6.4x
OMV Petrom	$7.6B	1.0x	3.9x
Guanghui Energy	$7.5B	1.4x	7.8x
CNX Resources	$7.3B	5.0x	6.7x
Ades Holding	$7.3B	4.3x	8.6x
Frontline	$7.1B	4.1x	6.9x
Guangzhou Development Group	$7.1B	1.1x	n/a
Icahn Enterprises	$7.1B	0.8x	n/a
CMB.Tech	$6.9B	4.9x	9.3x
Cosmo Energy Holdings	$6.9B	0.4x	5.4x
Archrock	$6.7B	5.2x	9.9x
Sinopec Oilfield Service	$6.7B	0.6x	n/a
Centrica	$6.6B	0.2x	2.6x
NextDecade	$6.6B	n/a	-40.7x
Kinetik Holdings	$6.5B	4.0x	6.4x
Ampol	$6.4B	0.3x	7.8x
Strathcona Resources	$6.4B	2.0x	4.2x
Gaztransport & Technigaz	$6.4B	8.2x	13.0x
Seatrium	$6.3B	0.9x	10.5x
Vista Energy	$6.3B	3.2x	4.8x
INA-Industrija Nafte	$6.2B	n/a	n/a
Delek Group	$6.2B	1.8x	n/a
Chord Energy	$6.2B	1.3x	2.6x
Banpu	$6.2B	1.1x	5.1x
Saipem	$6.2B	0.4x	3.8x
NewMed Energy	$6.1B	6.6x	n/a
Kunlun Energy	$6.0B	0.2x	2.6x
Thaioil	$5.9B	0.4x	8.2x
Tüpraş	$5.9B	0.3x	4.9x
Crescent Energy	$5.9B	1.8x	3.5x
NOV Inc.	$5.8B	0.7x	5.4x
Kodiak Gas Services	$5.8B	4.7x	8.8x
Subsea 7	$5.6B	0.8x	4.5x
USA Compression	$5.5B	5.7x	9.3x
Viper Energy	$5.5B	5.5x	6.1x
SM Energy	$5.5B	1.9x	2.6x
Worley	$5.4B	0.7x	8.3x
Viva Energy Australia	$5.4B	0.3x	11.5x
Grupo Ultra	$5.3B	0.2x	5.4x
Golar LNG	$5.3B	16.2x	20.7x
MEG Energy	$5.3B	1.5x	5.1x
Energean	$5.3B	3.3x	4.8x
Romgaz	$5.2B	2.9x	5.5x
Rubis	$5.1B	0.7x	6.2x
Genesis Energy	$5.0B	2.0x	8.5x
Northern Oil & Gas	$5.0B	2.2x	3.1x
PBF Energy	$4.9B	0.2x	126.0x
Murphy Oil	$4.8B	1.7x	3.1x
HELLENiQ ENERGY	$4.8B	0.4x	4.8x
Bangchak Corporation	$4.8B	0.3x	4.1x
ChampionX	$4.8B	1.4x	6.2x
Motor Oil (Hellas)	$4.8B	0.4x	4.6x
CNOOC Energy Technology	$4.8B	0.6x	4.8x
MedcoEnergi	$4.7B	2.0x	3.8x
California Resources	$4.7B	1.5x	4.4x
Mangalore Refinery	$4.7B	0.4x	14.4x
Brava Energia	$4.7B	2.5x	6.0x
Gibson Energy	$4.6B	0.6x	10.5x
Petronet LNG	$4.6B	0.8x	7.0x
PetroVietnam Gas	$4.5B	1.1x	7.5x
Luberef	$4.5B	1.7x	13.3x
Yinson	$4.5B	2.8x	6.8x
Transportadora de Gas del Sur	$4.4B	3.8x	7.0x
Delek Logistics	$4.4B	4.4x	9.7x
Jereh Group	$4.3B	2.2x	8.0x
Magnolia Oil & Gas	$4.3B	3.2x	4.5x
Weatherford	$4.2B	0.8x	3.4x
Gulfport Energy	$4.2B	3.7x	5.2x
PrairieSky Royalty	$4.0B	10.7x	11.9x
MyMesra	$4.0B	0.4x	8.5x
Global Partners	$3.9B	0.2x	9.8x
PTT Oil and Retail	$3.9B	0.2x	7.1x
Ithaca Energy	$3.9B	1.6x	2.4x
Alliance Res Partners	$3.7B	1.6x	5.4x
Woqod	$3.7B	n/a	n/a
Delek US Holdings	$3.7B	0.3x	10.6x
Peyto	$3.6B	4.0x	5.1x
Kosmos Energy	$3.6B	2.2x	3.9x
CVR Energy	$3.6B	0.5x	11.0x
Helmerich & Payne	$3.6B	1.1x	4.1x
Valaris	$3.5B	1.5x	7.0x
Navitas Petroleum	$3.5B	n/a	n/a
Calumet	$3.5B	0.9x	16.0x
Aegis Logistics	$3.4B	4.5x	28.0x
SK Gas	$3.4B	0.6x	8.7x
TerraVest Industries	$3.4B	3.8x	19.7x
Technip Energies	$3.3B	0.4x	4.7x
Patterson-UTI	$3.2B	0.6x	3.0x
Topaz Energy	$3.2B	13.1x	13.6x
Equital	$3.1B	n/a	n/a
Vital Energy	$3.0B	1.5x	2.3x
Baytex Energy	$2.9B	1.0x	1.9x
Arabian Drilling	$2.7B	2.8x	6.8x
Petrol Group	$2.7B	n/a	n/a
Par Pacific Holdings	$2.6B	0.4x	11.0x
Flex LNG	$2.6B	7.1x	9.2x
Cactus	$2.6B	2.3x	6.8x
ProFrac	$2.5B	1.2x	5.4x
Talos Energy	$2.5B	1.3x	2.0x
Liberty Energy	$2.5B	0.6x	3.0x
Scorpio Tankers	$2.5B	2.3x	3.4x
BlueNord	$2.5B	2.6x	4.5x
TORM	$2.4B	2.3x	3.4x
Sitio Royalties	$2.4B	4.0x	4.5x
Vermilion Energy	$2.4B	1.5x	2.7x
Oceaneering	$2.4B	0.9x	6.6x
Tidewater	$2.3B	1.7x	4.2x
Genesis Energy New Zealand	$2.3B	1.0x	8.4x
International Seaways	$2.3B	2.6x	4.3x
TGS	$2.3B	1.5x	2.5x
Beach Energy	$2.3B	1.8x	3.1x
OGDC	$2.3B	1.5x	2.4x
NuVista Energy	$2.2B	2.3x	4.1x
HighPeak Energy	$2.2B	2.2x	2.8x
Tamarack Valley Energy	$2.2B	1.8x	3.0x
Jiangxi Jovo Energy Co	$2.1B	0.7x	7.1x
DHT Holdings	$2.1B	5.4x	7.1x
LandBridge	$2.1B	14.2x	15.9x
Mach Natural Resources	$2.1B	2.1x	3.5x
BKV Corporation	$2.0B	2.8x	7.3x
Atlas Energy Solutions	$2.0B	1.8x	6.6x
World Kinect	$2.0B	0.0x	5.4x
Odfjell Drilling	$2.0B	2.4x	5.1x
International Petroleum	$1.9B	2.5x	6.5x
Advantage Energy	$1.9B	3.8x	7.2x
BW Offshore	$1.9B	3.0x	5.7x
Athabasca Oil Corporation	$1.8B	1.9x	4.3x
Bukit Asam	$1.8B	0.7x	4.2x
AKSA Enerji	$1.8B	n/a	n/a
Tsakos Energy Navigation	$1.8B	2.7x	4.6x
Navigator Gas	$1.8B	3.2x	6.1x
Birchcliff Energy	$1.8B	3.5x	5.8x
CrossAmerica Partners	$1.7B	0.5x	12.0x
Shanghai Petrochemical	$1.7B	0.2x	5.5x
Afriquia Gaz	$1.6B	1.6x	8.5x
MRC Global	$1.6B	0.5x	7.8x
Kimbell Royalty Partners	$1.5B	4.7x	5.5x
National Gas	$1.5B	n/a	n/a
Fluxys Belgium	$1.5B	n/a	n/a
Fugro	$1.5B	0.6x	3.0x
Wood	$1.4B	0.2x	3.1x
Viridien	$1.4B	1.2x	3.0x
Paramount Resources	$1.4B	1.5x	2.9x
Natural Resources	$1.4B	n/a	n/a
Aker Solutions	$1.4B	0.3x	3.0x
Petrolimex	$1.4B	0.1x	6.1x
Nanjing Tanker	$1.3B	1.5x	3.5x
Dorian LPG	$1.3B	3.7x	6.5x
Dana Gas	$1.3B	3.7x	5.1x
Capex	$1.3B	n/a	n/a
Modec	$1.3B	0.3x	3.0x
Dorchester Minerals	$1.3B	n/a	n/a
Helix Energy Solutions	$1.2B	0.9x	4.3x
DNO	$1.1B	1.1x	2.0x
Select Water	$1.1B	0.8x	4.2x
Maurel & Prom	$1.0B	1.3x	2.9x
Expro	$1.0B	0.6x	3.0x
Headwater Exploration	$991M	2.3x	3.5x
Innovex International	$972M	1.2x	6.3x
Excelerate Energy	$934M	1.0x	2.5x
COOEC	$928M	0.2x	1.7x
Teekay Tankers	$868M	1.3x	2.3x
CIMC Enric	$834M	0.2x	3.0x
Hallador Energy	$782M	2.0x	33.6x
JANAF	$775M	n/a	n/a
Star Group	$714M	n/a	n/a
RPC Inc.	$708M	0.5x	3.0x
Sea1 Offshore	$704M	2.1x	4.1x
Core Laboratories	$675M	1.3x	8.9x
Schoeller-Bleckmann	$654M	1.0x	5.6x
Archer	$653M	0.5x	4.2x
Gas Arabian Services	$635M	2.1x	21.6x
2G Energy	$577M	1.3x	11.6x
Tetra Technologies	$538M	0.9x	5.2x
Sinopec Kantons Holdings	$537M	6.2x	n/a
KN Energies	$438M	n/a	n/a
Dynagas LNG Partners	$390M	2.6x	n/a
Deutsche Rohstoff	$376M	1.6x	2.2x
Prosafe	$374M	2.4x	14.1x
Reach Subsea	$365M	1.4x	3.2x
Oil States International	$359M	0.5x	4.4x
Akastor	$333M	5.0x	8.5x
Petrolina (Hldgs)	$316M	n/a	n/a
Esso	$302M	n/a	n/a
Tamboran Resources	$292M	n/a	-11.6x
Infinity Natural Resources	$265M	0.9x	1.2x
Deep Value Driller	$239M	4.2x	4.6x
La Francaise de l'Energie	$222M	6.4x	9.5x
Makpetrol	$212M	n/a	n/a
Gas Plus	$209M	n/a	n/a
Awilco LNG	$193M	n/a	n/a
HMS Bergbau	$154M	0.1x	6.6x
Eidesvik Offshore	$149M	n/a	n/a
Conpet	$123M	n/a	n/a
A.b.p. Nocivelli	$123M	1.3x	6.8x
Oil Terminal	$109M	n/a	n/a
NorAm Drilling	$86.6M	0.8x	3.8x
Okea	$82.9M	0.1x	0.1x
Daldrup & Söhne	$79.5M	1.3x	8.6x
Pyxis Tankers	$76.5M	1.6x	3.3x
Docks Petroles d Ambes	$71.9M	n/a	n/a
SeaBird Exploration	$61.5M	0.7x	1.6x
Uni-Fuels	$61.5M	n/a	n/a
Dolphin Drilling	$59.0M	0.5x	-3.5x
Bumech	$56.2M	n/a	n/a
Argeo	$56.0M	1.0x	6.2x
Robit	$54.8M	0.5x	6.8x
Geospace Technologies	$52.8M	n/a	n/a
Onico	$52.4M	n/a	n/a
PTL Limited	$48.9M	n/a	n/a
Teekay	$37.2M	n/a	n/a
ElectroMagnetic	$36.9M	n/a	n/a
InterOil Explr	$35.4M	n/a	n/a
Crown LNG Holdings	$34.1M	n/a	n/a
Rompetrol Well Servs	$30.0M	n/a	n/a
Toplivo	$25.3M	n/a	n/a
Aquila Holdings	$25.2M	n/a	n/a
Ecoslops	$16.2M	n/a	n/a
Petrolia	$15.6M	n/a	n/a
Atlantic Petroleum	$12.1M	n/a	n/a
Acceleware	$10.4M	n/a	n/a
Hunter Group	$7.1M	n/a	n/a
Robin Energy	$6.6M	n/a	n/a
Oil and Gas Explr and Pro	$4.9M	n/a	n/a
Igrene	$3.4M	n/a	n/a
Clean & Carbon Energy	$2.6M	n/a	n/a
Condmag	-$0.5M	n/a	n/a
Standard Supply	-$1.3M	n/a	n/a
S.D. Standard ETC	-$3.4M	n/a	n/a
Maha Energy	-$41.3M	n/a	n/a
LW Bogdanka	-$66.0M	-0.1x	-0.3x
Imperial Ptrl	-$130M	-0.9x	-2.3x