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	$1.80T	3.8x	7.7x
Exxon Mobil	$499B	1.4x	6.8x
Chevron	$294B	1.5x	6.5x
Shell	$237B	0.8x	3.7x
Reliance Industries	$206B	1.9x	10.7x
PetroChina	$204B	0.5x	3.1x
Enbridge	$166B	4.6x	12.6x
TotalEnergies	$158B	0.8x	3.8x
ConocoPhillips	$143B	2.5x	5.7x
Petrobras	$137B	1.5x	3.0x
China Petroleum	$132B	0.3x	4.5x
Energy Transfer	$127B	1.5x	8.1x
BP	$121B	0.6x	3.2x
Enterprise Products	$103B	1.8x	10.3x
CNOOC	$97.3B	1.6x	2.6x
Williams Companies	$96.9B	9.1x	13.5x
Kinder Morgan	$90.3B	5.9x	11.3x
TC Energy	$89.9B	8.1x	11.5x
ONEOK	$88.8B	4.2x	12.9x
Occidental Petroleum	$80.6B	3.0x	5.7x
China Shenhua Energy	$75.7B	1.6x	5.1x
MPLX	$74.7B	6.2x	11.0x
EOG Resources	$72.8B	3.1x	5.7x
Marathon Petroleum	$72.8B	0.5x	7.0x
Cheniere Energy	$72.4B	4.4x	11.6x
Equinor	$71.8B	0.7x	1.8x
Phillips 66	$71.5B	0.5x	10.3x
ADNOC Gas	$71.4B	3.4x	8.8x
Canadian Natural Resources	$69.8B	2.7x	5.9x
Schlumberger	$64.2B	1.8x	7.0x
Eni	$64.0B	0.7x	3.3x
Venture Global	$60.0B	8.8x	16.4x
Diamondback Energy	$58.1B	5.2x	7.4x
Targa Resources	$57.8B	3.4x	13.7x
Suncor Energy	$56.8B	1.6x	4.9x
Hess	$53.9B	4.2x	7.4x
ONGC	$49.6B	0.7x	4.4x
Baker Hughes	$47.8B	1.7x	10.3x
Ecopetrol	$47.3B	1.4x	3.5x
Ptt	$46.7B	0.5x	4.1x
Cheniere Energy Partners	$44.9B	5.0x	12.4x
Valero Energy	$40.1B	0.3x	6.2x
EQT Corporation	$39.2B	6.9x	10.2x
Imperial Oil	$37.7B	1.0x	6.5x
IndianOil	$36.8B	0.4x	8.6x
Woodside Energy	$33.2B	2.5x	3.6x
Devon Energy	$32.7B	2.0x	4.2x
ENEOS Holdings	$32.4B	0.4x	6.7x
Cenovus Energy	$32.1B	0.7x	4.6x
Pembina Pipeline	$31.9B	5.9x	10.6x
Texas Pacific	$30.6B	41.3x	49.3x
Halliburton	$28.8B	1.3x	5.8x
SK Innovation	$28.6B	0.5x	12.8x
ADNOC Drilling Company	$26.2B	6.3x	13.0x
Expand Energy	$25.1B	5.0x	10.0x
YPF	$24.9B	1.3x	4.9x
Western Midstream	$22.5B	6.2x	9.5x
Coterra Energy	$22.2B	3.8x	6.0x
Plains All American Pipeline	$21.6B	0.4x	7.7x
Repsol	$21.3B	0.4x	2.6x
Orlen	$20.4B	0.3x	2.6x
Inpex	$19.5B	1.3x	2.6x
Santos	$18.6B	3.4x	5.1x
Tourmaline Oil	$18.5B	4.5x	7.3x
Ovintiv	$18.0B	1.9x	4.0x
Tenaris	$17.9B	1.4x	5.9x
Bharat Petroleum	$17.5B	0.3x	5.9x
Aker BP	$17.4B	1.4x	1.6x
Idemitsu Kosan	$16.4B	0.3x	7.8x
OMV	$15.9B	0.4x	2.1x
Antero Resources	$15.9B	3.5x	14.6x
Sunoco	$15.8B	0.7x	10.4x
APA	$14.8B	1.7x	2.6x
AltaGas	$14.6B	1.6x	11.8x
Dian Swastatika Sentosa	$14.4B	n/a	n/a
PTTEP	$14.4B	1.6x	2.1x
Galp Energia	$14.2B	0.7x	4.2x
Quinenco	$14.2B	1579.9x	n/a
Permian Resources	$13.9B	2.7x	3.7x
TechnipFMC	$13.5B	1.5x	9.6x
ARC Resources	$13.0B	3.3x	6.1x
DT Midstream	$12.6B	12.4x	12.6x
Vår Energi	$12.6B	1.6x	2.1x
SBM Offshore	$11.9B	2.0x	6.7x
Plains GP Holdings	$11.9B	0.2x	4.3x
Neste	$11.5B	0.5x	8.7x
Nakilat	$11.5B	11.5x	13.5x
HD Hyundai	$11.1B	0.2x	3.8x
Formosa Petrochemical	$10.9B	0.6x	21.0x
Cosan	$10.9B	0.4x	3.2x
Antero Midstream	$10.9B	9.8x	10.3x
Range Resources	$10.8B	4.2x	8.9x
COSCO SHIPPING Energy	$10.2B	3.2x	7.3x
Matador Resources	$9.9B	2.8x	4.1x
China Merchants Energy	$9.8B	2.6x	7.7x
Transocean	$9.6B	2.7x	8.3x
Civitas Resources	$9.5B	1.8x	2.6x
Keyera	$9.5B	1.9x	10.7x
National Fuel Gas	$9.4B	4.4x	7.4x
Oil India	$9.4B	2.9x	7.4x
HF Sinclair	$9.1B	0.3x	7.9x
Parkland	$8.7B	0.4x	7.1x
Comstock Resources	$8.7B	6.6x	9.7x
China Oilfield Services	$8.7B	1.3x	5.4x
Capital Power	$8.7B	3.5x	9.1x
S-Oil	$8.6B	0.3x	8.6x
DCC	$8.5B	0.3x	7.1x
Hess Midstream	$8.2B	5.4x	7.1x
MOL Group	$8.1B	0.3x	2.8x
Ades Holding	$7.9B	4.8x	9.7x
OMV Petrom	$7.9B	1.1x	4.0x
Chord Energy	$7.8B	1.7x	3.4x
Guanghui Energy	$7.8B	1.2x	7.1x
Royal Vopak	$7.6B	4.0x	6.5x
Shaanxi Energy Investment	$7.6B	2.4x	n/a
Cosmo Energy Holdings	$7.3B	0.4x	5.4x
Frontline	$7.1B	5.3x	6.7x
Sinopec Oilfield Service	$7.1B	0.6x	n/a
Viper Energy	$7.0B	7.6x	8.4x
Kinetik Holdings	$7.0B	4.4x	6.9x
NOV Inc.	$6.9B	0.8x	6.2x
PRIO	$6.9B	2.8x	3.9x
Archrock	$6.9B	5.8x	11.4x
Seatrium	$6.9B	1.0x	13.8x
Icahn Enterprises	$6.8B	0.7x	n/a
SM Energy	$6.7B	2.4x	3.3x
CNX Resources	$6.7B	4.9x	6.3x
Ampol	$6.6B	0.3x	8.3x
Kodiak Gas Services	$6.5B	5.4x	10.4x
Guangzhou Development Group	$6.4B	0.9x	n/a
Strathcona Resources	$6.3B	2.1x	4.1x
Delek Group	$6.1B	n/a	n/a
Banpu	$6.0B	1.1x	5.3x
Vista Energy	$6.0B	3.5x	5.1x
Crescent Energy	$5.9B	1.9x	3.6x
ChampionX	$5.9B	1.6x	7.5x
USA Compression	$5.8B	6.1x	9.9x
Viva Energy Australia	$5.8B	0.3x	11.9x
NewMed Energy	$5.7B	n/a	n/a
Worley	$5.7B	0.8x	9.1x
Subsea 7	$5.7B	0.8x	5.1x
Thaioil	$5.7B	0.4x	8.4x
Weatherford	$5.6B	1.0x	4.1x
Northern Oil & Gas	$5.6B	2.5x	3.5x
Centrica	$5.6B	0.2x	2.1x
Murphy Oil	$5.6B	1.9x	3.4x
Saipem	$5.6B	0.4x	4.0x
Genesis Energy	$5.5B	1.9x	9.0x
Tüpraş	$5.5B	0.3x	4.0x
INA-Industrija Nafte	$5.5B	n/a	n/a
NextDecade	$5.5B	n/a	-33.9x
Kunlun Energy	$5.4B	0.2x	2.3x
California Resources	$5.3B	1.8x	5.2x
Yinson	$5.2B	4.3x	8.5x
PetroVietnam Gas	$5.1B	1.3x	8.2x
Veren	$5.1B	1.7x	2.9x
Harbour Energy	$5.1B	0.8x	1.1x
Grupo Ultra	$5.0B	0.2x	5.1x
Luberef	$4.9B	1.9x	14.3x
Jereh Group	$4.8B	2.3x	9.1x
MEG Energy	$4.8B	1.3x	4.6x
Gaztransport & Technigaz	$4.8B	7.0x	11.5x
Golar LNG	$4.8B	16.5x	18.8x
Transportadora de Gas del Sur	$4.8B	4.2x	8.2x
Energean	$4.7B	2.7x	4.5x
Bangchak Corporation	$4.7B	0.3x	4.2x
Magnolia Oil & Gas	$4.7B	3.5x	4.9x
Whitecap Resources	$4.7B	1.8x	3.3x
CNOOC Energy Technology	$4.6B	0.6x	5.1x
HELLENiQ ENERGY	$4.6B	0.4x	5.0x
PrairieSky Royalty	$4.6B	12.7x	14.4x
MedcoEnergi	$4.5B	2.0x	3.6x
Rubis	$4.5B	0.6x	6.1x
Romgaz	$4.5B	2.7x	5.0x
PBF Energy	$4.5B	0.1x	33.9x
Motor Oil (Hellas)	$4.4B	0.4x	4.4x
Petronet LNG	$4.3B	0.7x	7.0x
Patterson-UTI	$4.3B	0.8x	3.7x
Gibson Energy	$4.3B	0.5x	9.9x
CMB.Tech	$4.2B	4.9x	6.6x
Kosmos Energy	$4.1B	2.4x	3.7x
MyMesra	$4.1B	0.5x	9.2x
Delek Logistics	$4.0B	4.0x	9.7x
Gulfport Energy	$4.0B	3.5x	5.4x
Global Partners	$4.0B	0.2x	9.9x
Mangalore Refinery	$3.9B	0.4x	11.8x
Helmerich & Payne	$3.9B	1.2x	4.3x
PTT Oil and Retail	$3.8B	0.2x	7.3x
Alliance Res Partners	$3.8B	1.5x	5.4x
Valaris	$3.8B	1.6x	7.6x
Cactus	$3.6B	3.2x	9.2x
Vital Energy	$3.6B	1.8x	2.8x
Ithaca Energy	$3.5B	1.6x	2.5x
Baytex Energy	$3.5B	1.3x	2.3x
Brava Energia	$3.5B	2.0x	4.8x
Woqod	$3.4B	0.4x	11.2x
Liberty Energy	$3.4B	0.8x	3.8x
Navitas Petroleum	$3.3B	n/a	n/a
Calumet	$3.3B	0.8x	15.7x
Equital	$3.3B	n/a	n/a
Peyto	$3.2B	4.0x	5.0x
Aegis Logistics	$3.2B	3.9x	26.8x
SK Gas	$3.2B	0.6x	9.6x
Arabian Drilling	$3.2B	3.2x	7.9x
Topaz Energy	$3.1B	13.3x	13.8x
Tidewater	$3.0B	2.2x	5.4x
CVR Energy	$3.0B	0.4x	9.8x
Delek US Holdings	$2.9B	0.2x	9.1x
Talos Energy	$2.9B	1.5x	2.4x
Atlas Energy Solutions	$2.9B	2.7x	10.2x
BlueNord	$2.8B	3.5x	6.2x
Technip Energies	$2.7B	0.4x	4.4x
TGS	$2.7B	1.7x	3.1x
HighPeak Energy	$2.7B	2.5x	3.1x
TORM	$2.6B	2.4x	3.4x
Flex LNG	$2.6B	7.3x	9.5x
Sitio Royalties	$2.6B	4.2x	4.7x
Scorpio Tankers	$2.5B	2.1x	3.4x
Petrol Group	$2.5B	n/a	n/a
Mach Natural Resources	$2.5B	2.5x	4.2x
ProFrac	$2.5B	1.1x	4.9x
International Seaways	$2.3B	2.5x	4.0x
Oceaneering	$2.3B	0.8x	6.4x
World Kinect	$2.2B	0.1x	6.3x
Jiangxi Jovo Energy Co	$2.2B	0.6x	6.9x
Par Pacific Holdings	$2.2B	0.3x	9.3x
Tamarack Valley Energy	$2.2B	1.8x	3.1x
Genesis Energy New Zealand	$2.1B	1.0x	8.5x
BKV Corporation	$2.1B	3.0x	10.0x
National Gas	$2.1B	n/a	n/a
DHT Holdings	$2.1B	5.2x	6.8x
OGDC	$2.0B	1.3x	1.7x
NuVista Energy	$2.0B	2.3x	4.5x
Vermilion Energy	$2.0B	1.4x	2.3x
Odfjell Drilling	$1.9B	2.5x	5.5x
International Petroleum	$1.9B	2.4x	5.9x
AKSA Enerji	$1.9B	2.4x	8.6x
Paramount Resources	$1.9B	1.7x	3.2x
Fugro	$1.8B	0.8x	3.7x
TerraVest Industries	$1.8B	2.7x	13.1x
LandBridge	$1.8B	14.4x	16.0x
CrossAmerica Partners	$1.8B	0.4x	11.9x
Bukit Asam	$1.7B	0.7x	4.2x
Navigator Gas	$1.7B	3.3x	5.9x
Shanghai Petrochemical	$1.7B	0.1x	6.5x
Athabasca Oil Corporation	$1.7B	1.9x	4.1x
Petrolimex	$1.7B	0.1x	7.7x
Afriquia Gaz	$1.7B	1.9x	10.4x
Kimbell Royalty Partners	$1.7B	5.1x	6.2x
MRC Global	$1.6B	0.5x	7.9x
Advantage Energy	$1.6B	3.7x	7.0x
Expro	$1.6B	0.9x	4.6x
Capex	$1.6B	n/a	n/a
Nanjing Tanker	$1.6B	1.6x	3.7x
Helix Energy Solutions	$1.5B	1.2x	5.1x
Birchcliff Energy	$1.5B	3.6x	6.5x
Dana Gas	$1.5B	4.0x	6.2x
John Wood Group	$1.5B	0.3x	3.3x
Natural Resources	$1.5B	n/a	n/a
Dorchester Minerals	$1.4B	n/a	n/a
Select Water	$1.4B	0.9x	5.2x
Dorian LPG	$1.4B	3.5x	6.1x
Fluxys Belgium	$1.3B	n/a	n/a
Aker Solutions	$1.3B	0.3x	3.1x
CIMC Enric	$1.2B	0.3x	4.3x
Maurel & Prom	$1.2B	1.6x	3.4x
Modec	$1.1B	0.3x	3.1x
Innovex International	$1.1B	1.6x	7.8x
Headwater Exploration	$1.0B	2.4x	3.7x
DNO	$999M	1.4x	2.9x
COOEC	$983M	0.2x	1.8x
RPC Inc.	$977M	0.7x	4.3x
Teekay Tankers	$898M	1.3x	2.2x
JANAF	$759M	n/a	n/a
Excelerate Energy	$754M	1.0x	2.2x
Tetra Technologies	$720M	1.2x	7.2x
Star Group	$704M	n/a	n/a
Gas Arabian Services	$653M	n/a	n/a
Hallador Energy	$547M	1.3x	21.8x
Sinopec Kantons Holdings	$539M	n/a	n/a
Esso	$406M	n/a	n/a
Oil States International	$384M	0.6x	4.9x
Tamboran Resources	$359M	n/a	-17.8x
Infinity Natural Resources	$278M	n/a	n/a
Uni-Fuels	$140M	n/a	n/a
Geospace Technologies	$85.1M	n/a	n/a
PTL Limited	$16.6M	n/a	n/a
Acceleware	$8.9M	n/a	n/a
Teekay	-$100M	n/a	n/a