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	$1.63T	3.8x	7.2x
Exxon Mobil	$511B	1.5x	7.3x
Chevron	$288B	1.5x	6.8x
Shell	$253B	0.9x	4.1x
Reliance Industries	$249B	2.2x	12.3x
PetroChina	$229B	0.6x	3.5x
Enbridge	$178B	4.6x	12.5x
TotalEnergies	$170B	0.8x	4.0x
Petrobras	$139B	1.5x	3.2x
China Petroleum	$137B	0.3x	5.0x
ConocoPhillips	$135B	2.3x	5.4x
BP	$122B	0.6x	3.3x
Energy Transfer	$120B	1.4x	7.5x
Enterprise Products	$100B	1.7x	10.0x
Williams Companies	$99.4B	8.9x	13.4x
CNOOC	$97.3B	1.7x	2.7x
TC Energy	$96.6B	8.5x	11.9x
Kinder Morgan	$95.8B	6.0x	11.7x
China Shenhua Energy	$84.4B	1.8x	5.9x
ONEOK	$82.9B	3.3x	11.0x
Marathon Petroleum	$82.3B	0.6x	7.8x
Canadian Natural Resources	$79.8B	2.9x	6.4x
Cheniere Energy	$76.4B	4.2x	11.6x
Occidental Petroleum	$76.0B	2.9x	5.5x
Eni	$73.4B	0.7x	3.7x
Equinor	$73.0B	0.7x	1.7x
MPLX	$72.7B	5.8x	10.5x
Venture Global	$66.8B	7.0x	15.2x
ADNOC Gas	$65.4B	3.4x	8.4x
Suncor Energy	$58.1B	1.6x	5.1x
Diamondback Energy	$53.6B	4.2x	6.1x
ONGC	$52.5B	0.7x	4.5x
PTT	$45.8B	0.5x	3.7x
Ecopetrol	$45.5B	1.4x	3.5x
Imperial Oil	$44.4B	1.2x	7.8x
Baker Hughes	$42.2B	1.5x	9.2x
Cheniere Energy Partners	$41.3B	4.0x	11.1x
IndianOil	$40.7B	0.4x	8.9x
SK Innovation	$38.4B	0.7x	15.7x
Woodside Energy	$37.4B	2.9x	4.1x
Pembina Pipeline	$32.9B	5.9x	10.2x
Cenovus Energy	$32.3B	0.8x	4.6x
Devon Energy	$29.0B	1.8x	3.9x
ADNOC Drilling Company	$26.9B	6.1x	12.8x
ENEOS Holdings	$25.9B	0.3x	6.5x
Repsol	$24.0B	0.4x	2.7x
Coterra Energy	$23.8B	3.6x	5.5x
Dian Swastatika Sentosa	$23.2B	n/a	n/a
Bharat Petroleum	$22.8B	0.4x	7.5x
Western Midstream	$22.2B	6.0x	9.3x
YPF	$21.8B	1.3x	4.7x
Plains All American Pipeline	$21.7B	0.4x	7.7x
Inpex	$21.7B	1.5x	2.4x
Santos	$21.2B	3.9x	5.8x
Aker BP	$20.7B	1.7x	1.9x
Ovintiv	$17.6B	2.1x	4.0x
Tourmaline Oil	$17.5B	3.6x	6.4x
Galp Energia	$17.0B	0.7x	4.9x
Neste	$16.7B	0.7x	11.3x
AltaGas	$16.5B	1.8x	12.3x
Antero Resources	$15.3B	3.1x	9.7x
Idemitsu Kosan	$15.0B	0.2x	8.5x
DT Midstream	$14.0B	12.5x	13.2x
Vår Energi	$13.6B	1.6x	2.1x
ARC Resources	$13.5B	3.1x	5.4x
Permian Resources	$13.2B	2.6x	3.5x
SBM Offshore	$12.9B	2.2x	7.1x
Nakilat	$12.8B	11.9x	14.6x
PTTEP	$12.7B	1.4x	1.9x
APA	$12.4B	1.5x	2.3x
Plains GP Holdings	$12.4B	0.2x	4.4x
HD Hyundai	$12.3B	0.2x	2.9x
Antero Midstream	$11.7B	10.3x	10.9x
Cosan	$11.2B	0.4x	2.7x
Oil India	$11.0B	4.2x	9.6x
Formosa Petrochemical	$10.9B	0.5x	18.3x
HF Sinclair	$10.9B	0.4x	8.3x
National Fuel Gas	$10.5B	4.4x	7.6x
COSCO SHIPPING Energy	$10.4B	3.1x	7.4x
Comstock Resources	$10.1B	6.2x	9.7x
Keyera	$10.0B	2.0x	11.1x
Capital Power	$9.9B	3.8x	9.2x
Matador Resources	$9.7B	2.7x	4.1x
China Merchants Energy	$9.7B	2.5x	6.6x
PRIO	$9.5B	3.7x	5.4x
Parkland	$9.5B	0.5x	7.4x
S-Oil	$9.5B	0.4x	10.9x
Whitecap Resources	$9.5B	2.6x	4.9x
Harbour Energy	$9.3B	1.1x	1.7x
MOL Group	$9.1B	0.4x	2.6x
OMV Petrom	$8.9B	1.1x	4.4x
Royal Vopak	$8.8B	4.6x	7.4x
China Oilfield Services	$8.8B	1.2x	5.5x
CNX Resources	$7.9B	5.3x	7.1x
Civitas Resources	$7.9B	1.6x	2.3x
Guanghui Energy	$7.8B	1.4x	8.0x
DCC	$7.8B	0.3x	6.3x
Icahn Enterprises	$7.7B	0.9x	n/a
NextDecade	$7.5B	n/a	-43.8x
Vista Energy	$7.3B	3.5x	5.3x
Strathcona Resources	$7.3B	2.2x	4.6x
Tüpraş	$7.2B	0.4x	6.0x
Guangzhou Development Group	$7.2B	1.1x	n/a
CMB.Tech	$7.1B	5.2x	10.1x
Ades Holding	$7.1B	4.2x	8.3x
Chord Energy	$7.1B	1.5x	3.1x
Delek Group	$7.1B	2.0x	n/a
Sinopec Oilfield Service	$7.1B	0.6x	n/a
Gaztransport & Technigaz	$7.0B	8.4x	13.3x
Cosmo Energy Holdings	$7.0B	0.4x	5.4x
NewMed Energy	$6.9B	7.3x	n/a
Ampol	$6.7B	0.3x	7.8x
Seatrium	$6.6B	0.9x	10.3x
Archrock	$6.5B	4.9x	9.1x
Centrica	$6.5B	0.2x	2.8x
Subsea 7	$6.4B	0.9x	4.9x
Kinetik Holdings	$6.3B	3.7x	6.1x
NOV Inc.	$6.2B	0.7x	5.8x
Banpu	$6.0B	1.1x	5.0x
Romgaz	$6.0B	3.2x	5.9x
Thaioil	$5.9B	0.4x	7.9x
Crescent Energy	$5.9B	1.8x	3.3x
Viva Energy Australia	$5.9B	0.3x	12.4x
Kunlun Energy	$5.8B	0.2x	2.5x
PBF Energy	$5.8B	0.2x	-3066.2x
MEG Energy	$5.7B	1.6x	5.6x
Worley	$5.6B	0.7x	8.5x
Motor Oil (Hellas)	$5.6B	0.4x	5.0x
Kodiak Gas Services	$5.6B	4.4x	8.4x
Grupo Ultra	$5.6B	0.2x	5.2x
Murphy Oil	$5.5B	1.9x	3.6x
Energean	$5.4B	3.1x	4.7x
Rubis	$5.3B	0.7x	6.2x
ChampionX	$5.2B	1.5x	6.8x
Golar LNG	$5.2B	15.4x	20.5x
Viper Energy	$5.2B	4.5x	5.4x
Northern Oil & Gas	$5.2B	2.3x	3.3x
HELLENiQ ENERGY	$5.1B	0.4x	4.8x
California Resources	$5.1B	1.6x	4.7x
Yinson	$5.0B	3.3x	7.4x
CNOOC Energy Technology	$4.9B	0.7x	5.2x
Weatherford	$4.9B	1.0x	4.1x
Gibson Energy	$4.9B	0.6x	11.0x
PetroVietnam Gas	$4.8B	1.2x	8.0x
Brava Energia	$4.8B	2.4x	5.5x
Luberef	$4.8B	1.8x	14.0x
MedcoEnergi	$4.7B	2.0x	3.8x
Bangchak Corporation	$4.6B	0.3x	3.8x
Magnolia Oil & Gas	$4.6B	3.5x	4.9x
Ithaca Energy	$4.6B	1.8x	2.6x
Delek Logistics	$4.5B	4.6x	9.8x
Technip Energies	$4.4B	0.5x	6.0x
Mangalore Refinery	$4.4B	0.4x	12.4x
Petronet LNG	$4.4B	0.7x	6.7x
CVR Energy	$4.4B	0.6x	12.7x
Navitas Petroleum	$4.3B	n/a	n/a
MyMesra	$4.2B	0.5x	9.1x
PrairieSky Royalty	$4.2B	11.3x	12.4x
Delek US Holdings	$4.1B	0.4x	11.4x
SK Gas	$4.0B	0.7x	9.5x
Alliance Res Partners	$3.9B	1.6x	5.6x
Woqod	$3.8B	n/a	n/a
Kosmos Energy	$3.8B	2.3x	4.1x
Peyto	$3.8B	4.0x	5.1x
PTT Oil and Retail	$3.7B	0.2x	6.5x
Calumet	$3.6B	0.9x	15.6x
Transportadora de Gas del Sur	$3.5B	3.2x	6.0x
Patterson-UTI	$3.5B	0.7x	3.4x
Equital	$3.4B	n/a	n/a
TerraVest Industries	$3.4B	3.6x	18.6x
Topaz Energy	$3.3B	12.8x	13.7x
Par Pacific Holdings	$3.3B	0.5x	12.8x
Aegis Logistics	$3.2B	n/a	n/a
Baytex Energy	$3.1B	1.1x	2.1x
Petrol Group	$3.0B	n/a	n/a
Arabian Drilling	$2.8B	3.0x	7.3x
Cactus	$2.8B	2.5x	7.4x
Vermilion Energy	$2.6B	1.7x	3.0x
Flex LNG	$2.6B	7.1x	9.3x
TORM	$2.6B	2.5x	3.7x
Oceaneering	$2.6B	0.9x	6.8x
ProFrac	$2.5B	1.2x	5.7x
Liberty Energy	$2.5B	0.6x	3.3x
OGDC	$2.5B	n/a	2.8x
Tamarack Valley Energy	$2.5B	2.0x	3.5x
BlueNord	$2.4B	2.5x	4.3x
Genesis Energy New Zealand	$2.4B	0.9x	8.3x
Beach Energy	$2.3B	1.8x	3.0x
TGS	$2.3B	1.5x	2.5x
NuVista Energy	$2.3B	2.3x	4.2x
Mach Natural Resources	$2.3B	2.2x	3.7x
Odfjell Drilling	$2.2B	2.6x	5.6x
Atlas Energy Solutions	$2.2B	2.0x	7.4x
HighPeak Energy	$2.2B	2.2x	2.8x
BKV Corporation	$2.2B	2.8x	7.7x
International Petroleum	$2.2B	2.8x	7.5x
Jiangxi Jovo Energy Co	$2.1B	0.7x	6.8x
Modec	$2.1B	0.5x	4.8x
World Kinect	$2.1B	0.1x	5.8x
DHT Holdings	$2.1B	5.4x	7.1x
Athabasca Oil Corporation	$2.0B	2.0x	4.6x
Tsakos Energy Navigation	$1.9B	2.9x	4.9x
BW Offshore	$1.9B	3.5x	5.4x
Advantage Energy	$1.9B	3.6x	7.0x
Shanghai Petrochemical	$1.9B	0.2x	5.3x
Navigator Gas	$1.9B	3.3x	6.3x
Birchcliff Energy	$1.9B	3.6x	6.0x
AKSA Enerji	$1.8B	n/a	n/a
Afriquia Gaz	$1.8B	1.7x	9.8x
Fugro	$1.8B	0.7x	3.4x
LandBridge	$1.7B	10.8x	12.2x
Paramount Resources	$1.7B	1.9x	3.9x
CrossAmerica Partners	$1.7B	0.5x	11.7x
Fluxys Belgium	$1.6B	2.2x	4.5x
MRC Global	$1.6B	0.5x	7.9x
Dorian LPG	$1.6B	4.3x	7.6x
Kimbell Royalty Partners	$1.6B	4.9x	5.9x
Bukit Asam	$1.6B	0.6x	3.6x
National Gas	$1.5B	n/a	n/a
Viridien	$1.5B	1.2x	3.0x
Aker Solutions	$1.5B	0.3x	3.2x
Petrolimex	$1.5B	0.1x	7.3x
Wood	$1.4B	0.2x	3.2x
Nanjing Tanker	$1.4B	1.7x	4.2x
DNO	$1.4B	1.2x	2.1x
Dana Gas	$1.4B	3.9x	5.4x
Natural Resources	$1.4B	n/a	n/a
Dorchester Minerals	$1.3B	n/a	n/a
Select Water	$1.2B	0.8x	4.6x
Maurel & Prom	$1.2B	1.6x	3.5x
Headwater Exploration	$1.1B	2.6x	4.1x
COOEC	$1.1B	0.3x	2.0x
Expro	$1.1B	0.6x	3.3x
Capex	$1.0B	n/a	n/a
CIMC Enric	$926M	0.3x	3.6x
Sea1 Offshore	$769M	2.4x	4.4x
Core Laboratories	$741M	1.4x	9.9x
Hallador Energy	$692M	1.7x	26.9x
Archer	$661M	0.5x	4.2x
Gas Arabian Services	$661M	2.1x	21.0x
2G Energy	$641M	1.3x	12.1x
Schoeller-Bleckmann	$613M	0.9x	5.0x
Sinopec Kantons Holdings	$514M	6.0x	3.6x
KN Energies	$455M	n/a	n/a
Oil States International	$413M	0.6x	5.0x
Deutsche Rohstoff	$404M	1.7x	2.4x
Dynagas LNG Partners	$387M	2.6x	n/a
Prosafe	$380M	2.6x	14.6x
Reach Subsea	$366M	1.4x	3.1x
Petrolina (Hldgs)	$330M	n/a	n/a
Tamboran Resources	$329M	449.1x	-12.7x
Akastor	$322M	5.5x	10.1x
Gas Plus	$272M	n/a	n/a
La Francaise de l'Energie	$267M	6.6x	10.2x
HMS Bergbau	$250M	0.1x	10.1x
Deep Value Driller	$248M	4.4x	4.7x
Infinity Natural Resources	$241M	0.8x	1.0x
Makpetrol	$217M	n/a	n/a
Awilco LNG	$206M	n/a	n/a
Bumech	$168M	n/a	n/a
Eidesvik Offshore	$151M	n/a	n/a
A.b.p. Nocivelli	$129M	1.3x	6.7x
Geospace Technologies	$128M	n/a	n/a
Conpet	$126M	n/a	n/a
Oil Terminal	$125M	n/a	n/a
NorAm Drilling	$90.7M	0.9x	4.1x
Daldrup & Söhne	$90.0M	1.4x	8.9x
Okea	$88.7M	0.1x	0.1x
Uni-Fuels	$75.8M	n/a	n/a
Pyxis Tankers	$73.6M	1.7x	3.6x
Docks Petroles d Ambes	$71.8M	n/a	n/a
Robit	$55.8M	0.5x	6.9x
Dolphin Drilling	$51.8M	0.4x	-13.8x
InterOil Exploration	$44.4M	n/a	n/a
Argeo	$44.3M	0.7x	4.4x
ElectroMagnetic	$39.8M	n/a	n/a
Onico	$36.5M	n/a	n/a
Crown LNG Holdings	$32.7M	n/a	n/a
Rompetrol Well Servs	$30.2M	n/a	n/a
Toplivo	$23.7M	n/a	n/a
Robin Energy	$19.2M	n/a	n/a
Ecoslops	$17.6M	n/a	n/a
Petrolia	$16.6M	n/a	n/a
Atlantic Petroleum	$12.9M	n/a	n/a
Acceleware	$10.3M	n/a	n/a
Oil and Gas Explr and Pro	$9.7M	n/a	n/a
Hunter Group	$6.8M	n/a	n/a
Standard Supply	$3.8M	n/a	n/a
PTL Limited	$3.5M	n/a	n/a
Clean & Carbon Energy	$3.4M	n/a	n/a
Igrene	$1.9M	n/a	n/a
Condmag	-$0.7M	n/a	n/a
S.D. Standard ETC	-$5.0M	n/a	n/a
Esso	-$31.3M	n/a	n/a
Maha Energy	-$34.4M	n/a	n/a
LW Bogdanka	-$56.0M	-0.1x	-0.2x
Imperial Ptrl	-$118M	-0.8x	-2.2x