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	3.6x	7.0x
Exxon Mobil	$531B	1.6x	7.6x
Chevron	$335B	1.8x	8.1x
PetroChina	$259B	0.6x	4.0x
Reliance Industries	$250B	2.2x	12.3x
Shell	$249B	0.9x	4.4x
Enbridge	$183B	4.2x	12.7x
TotalEnergies	$176B	0.9x	4.5x
China Petroleum	$147B	0.3x	5.5x
China Petroleum	$147B	0.3x	5.5x
Petrobras	$133B	1.5x	3.2x
ConocoPhillips	$131B	2.1x	5.1x
BP	$128B	0.7x	3.5x
Energy Transfer	$117B	1.4x	7.3x
TC Energy	$103B	9.3x	12.9x
Enterprise Products	$103B	2.0x	10.5x
CNOOC	$101B	1.7x	2.8x
Williams Companies	$101B	8.9x	13.0x
China Shenhua Energy	$99.6B	2.3x	6.8x
Kinder Morgan	$92.9B	5.5x	11.2x
Marathon Petroleum	$81.4B	0.6x	7.2x
Canadian Natural Resources	$81.0B	2.8x	6.2x
MPLX	$79.3B	6.1x	11.3x
ONEOK	$78.6B	2.3x	9.8x
Eni	$77.5B	0.8x	3.9x
Phillips 66	$71.6B	0.5x	9.0x
ADNOC Gas	$71.2B	3.6x	8.9x
Occidental Petroleum	$68.4B	2.6x	5.0x
Equinor	$66.5B	0.7x	1.7x
SLB	$65.9B	1.9x	7.8x
Cheniere Energy	$65.1B	3.3x	9.5x
EOG Resources	$61.0B	2.7x	5.0x
Suncor Energy	$60.3B	1.7x	5.3x
Diamondback Energy	$58.2B	4.2x	5.7x
Targa Resources	$56.7B	3.3x	11.7x
Valero Energy	$56.0B	0.5x	7.8x
Venture Global	$49.1B	3.6x	7.8x
Baker Hughes	$48.1B	1.8x	10.1x
PTT	$48.0B	0.5x	3.9x
Ecopetrol	$46.5B	1.5x	3.8x
ONGC	$46.0B	0.7x	4.0x
Imperial Oil	$44.2B	1.2x	8.0x
EQT Corporation	$41.6B	5.0x	7.7x
Cheniere Energy Partners	$40.8B	3.8x	11.3x
IndianOil	$39.9B	0.5x	7.0x
Dian Swastatika Sentosa	$39.2B	n/a	n/a
Woodside Energy	$38.0B	3.0x	4.3x
Cenovus Energy	$37.6B	1.0x	5.2x
Orlen	$34.3B	0.5x	3.4x
Pembina Pipeline	$33.0B	6.0x	10.5x
SK Innovation	$32.9B	0.6x	13.9x
Expand Energy	$30.5B	2.7x	6.2x
Halliburton	$30.1B	1.4x	7.3x
Devon Energy	$30.0B	1.8x	4.0x
Yankuang Energy Gr	$29.8B	1.7x	5.7x
ENEOS Holdings	$29.5B	0.4x	7.1x
Repsol	$27.5B	0.4x	3.1x
Inpex	$26.7B	2.1x	3.0x
ADNOC Drilling Company	$25.6B	5.4x	11.7x
YPF	$25.1B	1.4x	5.0x
Coterra Energy	$23.6B	3.1x	5.0x
Western Midstream	$23.0B	5.9x	9.1x
Neste	$22.4B	1.0x	12.3x
Aker BP	$21.9B	2.0x	2.4x
Bharat Petroleum	$21.4B	0.4x	5.8x
Plains All American Pipeline	$21.0B	0.4x	7.3x
Texas Pacific	$19.9B	24.9x	29.1x
OMV	$19.6B	0.6x	2.5x
Tourmaline Oil	$18.7B	4.2x	7.2x
TechnipFMC	$18.5B	1.9x	10.2x
Santos	$18.2B	3.6x	5.4x
AltaGas	$17.5B	1.8x	12.9x
Tenaris	$17.0B	1.4x	5.9x
Sunoco	$16.7B	0.7x	8.0x
Idemitsu Kosan	$16.3B	0.3x	10.6x
Ovintiv	$16.0B	1.8x	3.9x
DT Midstream	$15.5B	12.5x	13.6x
PTTEP	$15.5B	1.7x	2.4x
Quinenco	$15.1B	1564.3x	n/a
Galp Energia	$14.8B	0.6x	4.1x
Antero Resources	$14.1B	2.8x	8.6x
Permian Resources	$13.9B	2.6x	3.6x
ARC Resources	$13.5B	3.1x	5.5x
China Merchants Energy	$13.4B	3.5x	8.9x
Vår Energi	$13.3B	n/a	n/a
SBM Offshore	$13.1B	2.6x	7.9x
Cosan	$13.0B	0.5x	3.4x
Formosa Petrochemical	$12.8B	0.7x	16.2x
Whitecap Resources	$12.8B	3.1x	5.7x
APA	$12.8B	1.6x	2.5x
OMV Petrom	$12.6B	1.6x	6.5x
HD Hyundai	$12.5B	0.3x	2.5x
Plains GP Holdings	$12.2B	0.3x	4.3x
Nakilat	$11.8B	11.3x	14.8x
Antero Midstream	$11.6B	9.7x	10.4x
Capital Power	$11.6B	4.5x	10.1x
COSCO SHIPPING Energy	$11.2B	3.2x	7.6x
S-Oil	$10.8B	0.5x	15.9x
HF Sinclair	$10.3B	0.4x	4.8x
Oil India	$10.2B	4.2x	9.5x
National Fuel Gas	$10.2B	4.3x	7.0x
Keyera	$10.2B	2.0x	12.3x
Comstock Resources	$10.0B	5.2x	9.3x
Transocean	$9.8B	2.5x	7.2x
Range Resources	$9.7B	3.3x	6.9x
Jereh Group	$9.6B	4.1x	15.8x
PRIO	$9.2B	3.7x	6.4x
Viper Energy	$9.0B	6.5x	7.0x
China Oilfield Services	$9.0B	1.2x	5.2x
Romgaz	$8.7B	4.7x	8.7x
Matador Resources	$8.5B	2.4x	3.6x
Ades Holding	$8.4B	4.8x	9.1x
Shaanxi Energy Investment	$8.3B	2.8x	6.3x
CMB.Tech	$8.3B	5.9x	10.7x
Royal Vopak	$8.3B	4.8x	7.3x
MOL Group	$8.3B	0.3x	2.5x
Hess Midstream	$8.3B	5.0x	6.6x
Sinopec Oilfield Service	$8.2B	0.7x	n/a
CNX Resources	$8.1B	4.0x	6.7x
Harbour Energy	$8.1B	0.8x	1.2x
Delek Group	$8.0B	2.1x	n/a
NextDecade	$8.0B	n/a	-41.5x
NewMed Energy	$8.0B	9.2x	n/a
Frontline	$7.8B	6.2x	8.2x
Guangzhou Development Group	$7.6B	1.1x	n/a
Vista Energy	$7.6B	3.1x	4.5x
Civitas Resources	$7.4B	1.6x	2.3x
Ampol	$7.3B	0.3x	7.7x
Icahn Enterprises	$7.3B	0.8x	n/a
Cosmo Energy Holdings	$7.2B	0.4x	5.6x
Tüpraş	$7.1B	0.4x	4.8x
Archrock	$7.1B	4.8x	8.5x
Centrica	$7.0B	0.2x	4.1x
Banpu	$6.9B	1.3x	6.1x
NOV Inc.	$6.8B	0.8x	6.8x
Guanghui Energy	$6.7B	1.5x	9.6x
DCC	$6.7B	0.3x	5.7x
Grupo Ultra	$6.7B	0.3x	5.6x
INA-Industrija Nafte	$6.6B	n/a	n/a
Seatrium	$6.5B	0.8x	9.7x
Subsea 7	$6.5B	0.9x	4.6x
Kinetik Holdings	$6.5B	3.8x	6.6x
Gaztransport & Technigaz	$6.4B	6.8x	10.1x
Weatherford	$6.4B	1.3x	6.1x
Saipem	$6.3B	0.4x	3.2x
Murphy Oil	$6.3B	2.3x	4.3x
HELLENiQ ENERGY	$6.3B	0.5x	5.1x
Motor Oil (Hellas)	$6.2B	0.5x	4.7x
Chord Energy	$6.2B	1.3x	2.6x
Crescent Energy	$6.1B	1.7x	3.0x
Viva Energy Australia	$6.0B	0.3x	12.8x
Thaioil	$5.9B	0.5x	8.0x
Rubis	$5.8B	0.7x	6.7x
Kodiak Gas Services	$5.8B	4.5x	8.2x
PBF Energy	$5.8B	0.2x	77.0x
Yinson	$5.6B	4.6x	8.3x
USA Compression	$5.4B	5.4x	8.8x
Worley	$5.4B	0.7x	7.8x
Energean	$5.3B	3.1x	5.0x
Navitas Petroleum	$5.3B	n/a	n/a
MedcoEnergi	$5.1B	2.2x	4.2x
Golar LNG	$5.1B	13.0x	20.2x
Kunlun Energy	$5.1B	0.2x	2.2x
Gibson Energy	$5.0B	0.6x	11.7x
Genesis Energy	$5.0B	3.1x	9.2x
Whitehaven Coal	$4.9B	1.3x	6.2x
Transportadora de Gas del Sur	$4.9B	4.1x	7.8x
California Resources	$4.8B	1.4x	3.9x
PrairieSky Royalty	$4.8B	13.5x	14.7x
CNOOC Energy Technology	$4.8B	0.6x	4.7x
Helmerich & Payne	$4.7B	1.3x	5.2x
SM Energy	$4.7B	1.4x	2.1x
Delek Logistics	$4.7B	4.5x	9.3x
Gulfport Energy	$4.7B	3.4x	5.3x
PTT Oil and Retail	$4.7B	0.2x	7.2x
Bangchak Corporation	$4.6B	0.3x	4.0x
Strathcona Resources	$4.5B	1.6x	3.4x
Warrior Met Coal	$4.5B	3.5x	18.8x
PetroVietnam Gas	$4.4B	1.0x	6.8x
Luberef	$4.4B	2.0x	14.4x
Modec	$4.4B	1.1x	9.5x
Northern Oil & Gas	$4.4B	1.9x	2.7x
Delek US Holdings	$4.4B	0.4x	3.8x
Ithaca Energy	$4.3B	1.4x	2.1x
Peyto	$4.2B	4.7x	5.7x
Magnolia Oil & Gas	$4.1B	3.1x	4.5x
Mangalore Refinery	$4.0B	0.4x	9.5x
Valaris	$4.0B	1.7x	6.5x
Calumet	$3.9B	1.0x	13.0x
Baytex Energy	$3.9B	1.7x	2.9x
Brava Energia	$3.9B	1.8x	4.3x
MyMesra	$3.9B	0.4x	7.9x
Diversified Energy	$3.9B	2.4x	4.3x
CVR Energy	$3.8B	0.5x	9.4x
Jiangxi Jovo Energy Co	$3.8B	1.2x	11.5x
Woqod	$3.7B	n/a	n/a
Petronet LNG	$3.6B	0.7x	6.0x
Liberty Energy	$3.6B	0.9x	6.3x
Equital	$3.6B	n/a	n/a
Global Partners	$3.5B	0.2x	9.2x
Topaz Energy	$3.5B	14.0x	14.2x
Tamarack Valley Energy	$3.4B	2.9x	5.0x
Alliance Res Partners	$3.4B	1.5x	5.0x
SK Gas	$3.4B	0.6x	6.5x
Kosmos Energy	$3.3B	2.4x	5.6x
Patterson-UTI	$3.3B	0.7x	3.8x
TerraVest Industries	$3.3B	3.1x	16.3x
Technip Energies	$3.3B	0.4x	4.3x
Aegis Vopak Terminals	$3.3B	35.7x	47.0x
Yancoal Australia	$3.3B	0.8x	2.9x
Arabian Drilling	$3.1B	3.4x	9.2x
OGDC	$3.1B	2.2x	n/a
BKV Corporation	$3.1B	3.3x	9.1x
Par Pacific Holdings	$3.0B	0.4x	6.8x
Mach Natural Resources	$3.0B	2.7x	5.0x
Black Stone Minerals	$2.9B	6.7x	9.0x
Scorpio Tankers	$2.9B	3.1x	5.4x
AKSA Enerji	$2.8B	n/a	n/a
Oceaneering	$2.8B	1.0x	7.1x
Aegis Logistics	$2.8B	3.3x	20.0x
Talos Energy	$2.8B	1.5x	2.3x
Tidewater	$2.8B	2.1x	4.7x
International Seaways	$2.8B	3.5x	6.0x
Cactus	$2.8B	2.6x	8.0x
NuVista Energy	$2.7B	3.0x	5.3x
TORM	$2.7B	2.9x	4.8x
Odfjell Drilling	$2.6B	2.9x	5.8x
Petrol Group	$2.5B	n/a	n/a
International Petroleum	$2.5B	3.6x	10.2x
Tullow Oil	$2.4B	2.7x	3.8x
TGS	$2.4B	1.6x	2.7x
Genesis Energy New Zealand	$2.4B	1.1x	8.5x
Athabasca Oil Corporation	$2.4B	2.6x	6.0x
DNO	$2.3B	1.5x	2.4x
Tsakos Energy Navigation	$2.3B	3.5x	5.8x
Sable Offshore	$2.3B	n/a	-7.9x
Alpha Metallurgical	$2.2B	1.0x	15.6x
Vermilion Energy	$2.2B	1.5x	2.9x
Isramco Negev 2	$2.2B	n/a	n/a
DHT Holdings	$2.1B	5.7x	7.4x
Paramount Resources	$2.1B	4.0x	2.5x
Ratio Energies	$2.1B	n/a	n/a
BlueNord	$2.1B	2.1x	3.8x
New Hope Corp	$2.1B	1.8x	4.7x
Shanghai Petrochemical	$2.0B	0.2x	9.0x
Beach Energy	$2.0B	1.5x	2.8x
BW Offshore	$2.0B	4.2x	8.3x
Birchcliff Energy	$2.0B	3.7x	6.3x
Advantage Energy	$1.9B	3.7x	6.4x
Navigator Gas	$1.9B	3.5x	6.7x
Stanmore Resources	$1.8B	1.0x	5.3x
Excelerate Energy	$1.8B	1.6x	4.2x
ProFrac	$1.8B	1.0x	6.2x
Exxaro Resources	$1.8B	0.7x	2.9x
LandBridge	$1.8B	9.4x	10.6x
National Energy Services	$1.8B	1.4x	6.5x
Wood	$1.8B	0.4x	5.2x
National Gas	$1.8B	n/a	n/a
Viridien	$1.8B	1.5x	3.4x
Atlas Energy Solutions	$1.7B	1.6x	8.1x
Dana Gas	$1.7B	5.6x	7.5x
Tamar Petroleum	$1.7B	n/a	n/a
Organizacion Terpel	$1.7B	n/a	n/a
Oil Refineries	$1.6B	n/a	n/a
World Kinect	$1.6B	0.0x	4.7x
CrossAmerica Partners	$1.6B	0.5x	11.8x
Fugro	$1.6B	0.7x	5.2x
HighPeak Energy	$1.6B	1.8x	2.5x
Afriquia Gaz	$1.6B	1.5x	9.3x
Fluxys Belgium	$1.6B	2.1x	4.3x
CIMC Enric	$1.6B	0.4x	5.1x
Headwater Exploration	$1.6B	3.6x	5.7x
Bukit Asam	$1.5B	0.6x	6.9x
Petrolimex	$1.5B	0.2x	8.1x
Expro	$1.5B	0.9x	4.3x
Nanjing Tanker	$1.5B	1.8x	4.9x
Kimbell Royalty Partners	$1.5B	4.6x	5.5x
Dorian LPG	$1.5B	3.5x	6.0x
NIS	$1.4B	n/a	n/a
Select Water	$1.4B	1.0x	5.7x
Innovex International	$1.4B	1.5x	8.1x
Aker Solutions	$1.4B	0.2x	2.8x
Tetra Technologies	$1.4B	2.2x	12.6x
Natural Resources	$1.4B	n/a	n/a
Binh Son Refining	$1.3B	0.3x	6.8x
SunCoke Energy	$1.2B	0.7x	5.5x
COOEC	$1.2B	0.3x	2.2x
Helix Energy Solutions	$1.2B	1.0x	4.7x
Capex	$1.1B	n/a	n/a
RPC Inc.	$1.1B	0.7x	4.6x
Teekay Tankers	$1.1B	1.7x	3.8x
Ramaco Resources	$1.1B	1.9x	28.8x
EnQuest	$1.1B	1.0x	2.0x
Dorchester Minerals	$1.0B	n/a	n/a
Empresas Lipigas	$1.0B	n/a	n/a
Maurel & Prom	$1.0B	1.6x	3.4x
Karoon Energy	$980M	1.6x	2.6x
Serica Energy	$958M	1.5x	2.9x
Core Laboratories	$911M	1.8x	12.4x
Indus Gas	$896M	n/a	n/a
Hallador Energy	$895M	1.9x	16.5x
Granite Ridge Resources	$887M	1.9x	2.7x
Vitesse Energy	$858M	3.0x	4.6x
TXO Partners	$850M	2.2x	5.8x
Rompetrol Rafinare	$793M	n/a	n/a
JANAF	$766M	n/a	n/a
Greenfire Resources	$749M	n/a	n/a
GeoPark	$748M	1.5x	2.5x
2G Energy	$721M	1.6x	17.7x
Archer	$709M	0.5x	4.7x
Star Group	$654M	n/a	n/a
Berry Corp	$641M	1.0x	2.7x
Clean Energy Fuels	$636M	1.5x	9.6x
Rockhopper Exploration	$632M	n/a	-163.7x
Martin Midstream Partners	$611M	0.9x	6.1x
SBO	$604M	1.1x	6.9x
Sea1 Offshore	$551M	2.1x	3.8x
Tamboran Resources	$546M	69.6x	-28.5x
Nostrum Oil & Gas	$528M	4.3x	10.6x
American Resources	$507M	n/a	n/a
KN Energies	$489M	n/a	n/a
VAALCO Energy	$484M	1.4x	2.9x
W&T Offshore	$474M	0.9x	3.4x
Oil States International	$471M	0.7x	5.7x
Deutsche Rohstoff	$439M	2.0x	2.9x
SandRidge Energy	$428M	2.7x	4.2x
Gulf Keystone Petroleum	$412M	2.6x	5.2x
NACCO Industries	$399M	1.7x	n/a
Kistos Holdings	$379M	1.6x	2.8x
Sinopec Kantons Holdings	$372M	4.3x	2.5x
Gas Plus	$368M	n/a	n/a
Dynagas LNG Partners	$361M	2.4x	n/a
Prosafe	$342M	2.1x	9.3x
Petrolina (Hldgs)	$342M	n/a	n/a
KLX Energy Services Hldgs	$334M	0.5x	4.5x
Reach Subsea	$325M	1.2x	2.8x
Amplify Energy	$318M	1.1x	4.1x
Infinity Natural Resources	$300M	0.9x	1.2x
PrimeEnergy Resources	$294M	n/a	n/a
Deep Value Driller	$282M	5.0x	5.4x
Jadestone Energy	$281M	0.7x	1.9x
Akastor	$280M	7.0x	35.2x
HMS Bergbau	$270M	0.2x	10.2x
La Francaise de l'Energie	$261M	6.4x	11.1x
Makpetrol	$213M	n/a	n/a
XCF Global	$213M	n/a	n/a
Horizon Oil	$209M	1.9x	n/a
Awilco LNG	$209M	n/a	n/a
A.b.p. Nocivelli	$202M	1.8x	9.7x
Geospace Technologies	$197M	n/a	n/a
Kolibri Global Energy	$189M	3.2x	4.2x
Smart Sand	$187M	0.6x	4.7x
Bumech	$183M	n/a	n/a
Petrol	$181M	n/a	n/a
Drilling Tools Intl	$172M	1.1x	4.6x
Pantheon Resources	$167M	n/a	-14.3x
Capricorn Energy	$165M	1.2x	2.1x
Afentra	$142M	1.1x	1.8x
Eidesvik Offshore	$141M	n/a	n/a
Daldrup & Söhne	$130M	2.3x	14.0x
Conpet	$129M	n/a	n/a
Oil Terminal	$126M	n/a	n/a
NorAm Drilling	$126M	1.3x	5.9x
Omega Oil & Gas	$125M	240.6x	-36.0x
Okea	$125M	0.1x	0.2x
Epsilon Energy	$122M	3.9x	n/a
Energy World Corp	$105M	n/a	n/a
Dolphin Drilling	$103M	1.2x	-1.9x
TMD Energy	$98.5M	n/a	n/a
NCS Multistage Holdings	$93.0M	0.5x	4.0x
Docks Petroles d Ambes	$87.9M	n/a	n/a
Stabilis Solutions	$83.8M	1.1x	9.7x
AleAnna	$83.7M	n/a	n/a
Australian Pacific Coal	$79.2M	n/a	n/a
Maha Capital	$79.2M	9.0x	-10.4x
Bathurst Resources	$75.5M	3.9x	-101.7x
Pyxis Tankers	$66.9M	1.8x	4.7x
OMS Energy Technologies	$64.7M	0.3x	1.1x
Vivakor	$53.5M	0.6x	n/a
Robit	$46.4M	0.5x	6.9x
InterOil Exploration	$43.6M	n/a	n/a
Imperial Ptrl	$36.9M	0.2x	0.6x
Toplivo	$33.0M	n/a	n/a
Rompetrol Well Servs	$30.4M	n/a	n/a
Recon Technology	$28.9M	2.9x	-3.1x
Robin Energy	$27.2M	n/a	n/a
Onico	$21.7M	n/a	n/a
Uni-Fuels	$21.1M	n/a	n/a
ElectroMagnetic	$20.1M	n/a	n/a
Ecoslops	$17.5M	n/a	n/a
Hunter Group	$15.1M	n/a	n/a
Delixy Holdings	$14.3M	n/a	n/a
Atlantic Petroleum	$12.5M	n/a	n/a
Acceleware	$9.1M	n/a	n/a
Oil and Gas Explr and Pro	$7.0M	n/a	n/a
Petrolia	$6.7M	n/a	n/a
Igrene	$3.0M	n/a	n/a
Clean & Carbon Energy	$2.9M	n/a	n/a
PTL Limited	$1.7M	n/a	n/a
Condmag	$1.1M	n/a	n/a
Mammoth Energy Services	-$16.5M	-0.1x	n/a
S.D. Standard ETC	-$19.1M	n/a	n/a
LW Bogdanka	-$67.2M	-0.1x	-0.4x
Teekay	-$102M	n/a	n/a