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	$1.56T	3.6x	7.0x
Exxon Mobil	$538B	1.6x	7.7x
Chevron	$338B	1.8x	8.2x
PetroChina	$269B	0.7x	4.1x
Shell	$249B	0.9x	4.4x
Reliance Industries	$247B	2.2x	12.1x
Enbridge	$184B	4.2x	12.7x
TotalEnergies	$177B	0.9x	4.6x
China Petroleum	$151B	0.4x	5.6x
China Petroleum	$151B	0.4x	5.6x
ConocoPhillips	$134B	2.2x	5.2x
Petrobras	$133B	1.5x	3.2x
BP	$128B	0.7x	3.5x
Energy Transfer	$116B	1.4x	7.3x
CNOOC	$107B	1.8x	3.0x
TC Energy	$104B	9.4x	13.0x
Enterprise Products	$102B	2.0x	10.4x
Williams Companies	$101B	8.9x	13.1x
China Shenhua Energy	$100B	2.3x	6.8x
Kinder Morgan	$93.3B	5.5x	11.2x
Canadian Natural Resources	$81.8B	2.8x	6.3x
Marathon Petroleum	$80.8B	0.6x	7.1x
MPLX	$79.3B	6.1x	11.3x
ONEOK	$79.0B	2.3x	9.8x
Eni	$77.5B	0.8x	3.9x
Phillips 66	$72.1B	0.5x	9.0x
ADNOC Gas	$70.4B	3.6x	8.8x
Occidental Petroleum	$69.9B	2.7x	5.2x
Equinor	$67.6B	0.7x	1.8x
SLB	$65.8B	1.9x	7.8x
Cheniere Energy	$65.8B	3.3x	9.6x
EOG Resources	$61.4B	2.7x	5.1x
Suncor Energy	$61.0B	1.7x	5.4x
Diamondback Energy	$59.4B	4.2x	5.8x
Targa Resources	$57.2B	3.4x	11.7x
Valero Energy	$56.1B	0.5x	7.8x
Baker Hughes	$48.8B	1.8x	10.3x
Venture Global	$48.6B	3.5x	7.7x
PTT	$48.2B	0.5x	4.0x
Ecopetrol	$47.0B	1.5x	3.9x
ONGC	$46.1B	0.7x	4.0x
Imperial Oil	$44.9B	1.2x	8.1x
EQT Corporation	$42.1B	5.0x	7.7x
Cheniere Energy Partners	$40.7B	3.8x	11.3x
IndianOil	$40.0B	0.5x	6.9x
Cenovus Energy	$38.2B	1.0x	5.3x
Woodside Energy	$38.2B	3.0x	4.3x
Dian Swastatika Sentosa	$38.1B	n/a	n/a
Orlen	$35.0B	0.5x	3.5x
Pembina Pipeline	$33.2B	6.0x	10.6x
SK Innovation	$32.4B	0.6x	13.6x
Expand Energy	$31.1B	2.7x	6.3x
Halliburton	$30.5B	1.4x	7.4x
Devon Energy	$30.4B	1.8x	4.1x
ENEOS Holdings	$29.6B	0.4x	7.1x
Yankuang Energy Gr	$29.5B	1.6x	5.7x
Repsol	$27.7B	0.4x	3.1x
Inpex	$26.4B	2.1x	2.9x
ADNOC Drilling Company	$25.5B	5.3x	11.6x
YPF	$25.3B	1.4x	5.0x
Coterra Energy	$24.2B	3.2x	5.1x
Western Midstream	$23.0B	5.9x	9.1x
Neste	$22.8B	1.0x	12.6x
Aker BP	$22.3B	2.1x	2.4x
Bharat Petroleum	$21.6B	0.4x	5.9x
Plains All American Pipeline	$21.1B	0.4x	7.4x
OMV	$19.9B	0.6x	2.6x
Texas Pacific	$19.7B	24.6x	28.7x
TechnipFMC	$18.7B	1.9x	10.3x
Tourmaline Oil	$18.7B	4.2x	7.2x
Santos	$18.2B	3.5x	5.4x
AltaGas	$17.5B	1.8x	12.9x
Tenaris	$17.1B	1.4x	5.9x
Sunoco	$16.7B	0.7x	8.0x
Ovintiv	$16.4B	1.9x	4.0x
Idemitsu Kosan	$16.3B	0.3x	10.6x
PTTEP	$15.6B	1.7x	2.4x
DT Midstream	$15.6B	12.4x	13.6x
Quinenco	$15.1B	1559.6x	n/a
Galp Energia	$14.8B	0.6x	4.1x
Antero Resources	$14.4B	2.8x	8.7x
Permian Resources	$14.1B	2.7x	3.6x
ARC Resources	$13.7B	3.2x	5.5x
China Merchants Energy	$13.7B	3.5x	9.1x
Vår Energi	$13.4B	n/a	n/a
SBM Offshore	$13.0B	2.6x	7.9x
Cosan	$13.0B	0.5x	3.4x
Formosa Petrochemical	$12.9B	0.7x	16.2x
APA	$12.9B	1.6x	2.5x
Whitecap Resources	$12.8B	3.1x	5.6x
OMV Petrom	$12.7B	1.7x	6.4x
HD Hyundai	$12.3B	0.3x	2.4x
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	10.0x
COSCO SHIPPING Energy	$11.3B	3.2x	7.6x
S-Oil	$10.7B	0.5x	15.8x
HF Sinclair	$10.3B	0.4x	4.7x
Oil India	$10.2B	4.3x	9.6x
Keyera	$10.2B	2.0x	12.3x
Comstock Resources	$10.2B	5.3x	9.5x
National Fuel Gas	$10.1B	4.3x	7.0x
Transocean	$9.9B	2.5x	7.3x
Range Resources	$9.9B	3.3x	7.0x
Jereh Group	$9.9B	4.3x	16.4x
PRIO	$9.3B	3.8x	6.5x
Viper Energy	$9.1B	6.5x	7.0x
China Oilfield Services	$9.1B	1.2x	5.3x
Romgaz	$8.9B	4.7x	8.4x
Matador Resources	$8.6B	2.4x	3.7x
CMB.Tech	$8.4B	6.0x	10.8x
MOL Group	$8.4B	0.3x	2.5x
Royal Vopak	$8.3B	4.8x	7.4x
Sinopec Oilfield Service	$8.3B	0.7x	n/a
Ades Holding	$8.3B	4.7x	8.9x
Hess Midstream	$8.2B	5.0x	6.6x
CNX Resources	$8.2B	4.0x	6.7x
Shaanxi Energy Investment	$8.1B	2.7x	6.1x
Harbour Energy	$8.0B	0.8x	1.2x
NextDecade	$8.0B	n/a	-41.4x
NewMed Energy	$8.0B	9.3x	11.8x
Delek Group	$7.9B	n/a	n/a
Frontline	$7.9B	6.3x	8.3x
Vista Energy	$7.7B	3.2x	4.6x
Guangzhou Development Group	$7.5B	1.1x	8.0x
Civitas Resources	$7.4B	1.6x	2.4x
Ampol	$7.3B	0.3x	7.6x
Icahn Enterprises	$7.2B	0.8x	n/a
Cosmo Energy Holdings	$7.2B	0.4x	5.6x
Archrock	$7.2B	4.8x	8.5x
Tüpraş	$7.0B	0.4x	4.7x
Centrica	$7.0B	0.2x	4.2x
NOV Inc.	$6.9B	0.8x	6.9x
Banpu	$6.9B	1.3x	5.9x
Grupo Ultra	$6.7B	0.3x	5.6x
Guanghui Energy	$6.6B	1.5x	9.6x
Seatrium	$6.6B	0.9x	9.8x
DCC	$6.6B	0.3x	5.7x
INA-Industrija Nafte	$6.6B	n/a	n/a
Kinetik Holdings	$6.5B	3.8x	6.6x
Subsea 7	$6.5B	0.9x	4.5x
Weatherford	$6.5B	1.3x	6.2x
Gaztransport & Technigaz	$6.4B	6.7x	10.0x
Chord Energy	$6.3B	1.3x	2.7x
Murphy Oil	$6.3B	2.3x	4.3x
Saipem	$6.2B	0.3x	3.1x
HELLENiQ ENERGY	$6.2B	0.5x	5.0x
Motor Oil (Hellas)	$6.2B	0.4x	4.6x
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	$5.9B	0.7x	6.7x
Kodiak Gas Services	$5.8B	4.5x	8.2x
PBF Energy	$5.7B	0.2x	69.7x
Yinson	$5.7B	4.7x	8.3x
USA Compression	$5.4B	5.4x	8.8x
Worley	$5.4B	0.7x	7.8x
Energean	$5.3B	3.1x	5.0x
PetroVietnam Gas	$5.3B	1.2x	7.8x
Navitas Petroleum	$5.2B	n/a	n/a
MedcoEnergi	$5.2B	2.3x	4.3x
Golar LNG	$5.1B	13.0x	20.2x
Gibson Energy	$5.0B	0.6x	11.7x
Genesis Energy	$5.0B	3.2x	9.3x
Kunlun Energy	$5.0B	0.2x	2.2x
California Resources	$4.9B	1.4x	3.9x
Whitehaven Coal	$4.9B	1.3x	6.2x
Helmerich & Payne	$4.8B	1.3x	5.3x
PrairieSky Royalty	$4.8B	13.5x	14.7x
Transportadora de Gas del Sur	$4.8B	4.0x	7.7x
CNOOC Energy Technology	$4.8B	0.6x	4.8x
Gulfport Energy	$4.8B	3.4x	5.4x
Delek Logistics	$4.7B	4.5x	9.3x
SM Energy	$4.7B	1.4x	2.1x
PTT Oil and Retail	$4.6B	0.2x	7.1x
Bangchak Corporation	$4.6B	0.3x	4.0x
Warrior Met Coal	$4.5B	3.5x	19.0x
Strathcona Resources	$4.5B	1.6x	3.4x
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
Luberef	$4.3B	2.0x	14.0x
Modec	$4.3B	1.0x	9.2x
Peyto	$4.2B	4.7x	5.7x
Magnolia Oil & Gas	$4.2B	3.2x	4.6x
Valaris	$4.0B	1.7x	6.6x
Jiangxi Jovo Energy Co	$4.0B	1.3x	12.2x
Brava Energia	$4.0B	1.9x	4.3x
Baytex Energy	$4.0B	1.7x	3.0x
MyMesra	$3.9B	0.4x	8.0x
Calumet	$3.9B	1.0x	13.0x
Mangalore Refinery	$3.9B	0.4x	9.2x
Diversified Energy	$3.9B	2.3x	4.3x
CVR Energy	$3.7B	0.5x	9.2x
Woqod	$3.7B	0.5x	15.6x
Liberty Energy	$3.6B	1.0x	6.4x
Petronet LNG	$3.6B	0.7x	5.9x
Equital	$3.6B	n/a	n/a
Global Partners	$3.5B	0.2x	9.1x
Topaz Energy	$3.5B	13.9x	14.1x
Tamarack Valley Energy	$3.4B	2.9x	5.0x
TerraVest Industries	$3.4B	3.1x	16.6x
Alliance Res Partners	$3.4B	1.5x	4.9x
SK Gas	$3.4B	0.6x	6.4x
Patterson-UTI	$3.4B	0.7x	3.8x
Kosmos Energy	$3.3B	2.5x	5.7x
Technip Energies	$3.3B	0.4x	4.3x
Aegis Vopak Terminals	$3.3B	35.9x	47.2x
OGDC	$3.3B	2.4x	n/a
Yancoal Australia	$3.3B	0.8x	3.0x
BKV Corporation	$3.1B	3.3x	9.1x
Par Pacific Holdings	$3.0B	0.4x	6.7x
Arabian Drilling	$3.0B	3.3x	9.0x
Mach Natural Resources	$3.0B	2.7x	5.0x
Black Stone Minerals	$3.0B	6.8x	9.1x
AKSA Enerji	$3.0B	3.0x	10.5x
Scorpio Tankers	$2.9B	3.2x	5.5x
Talos Energy	$2.8B	1.6x	2.3x
Oceaneering	$2.8B	1.0x	7.1x
International Seaways	$2.8B	3.5x	6.1x
Tidewater	$2.8B	2.1x	4.7x
Cactus	$2.8B	2.6x	8.0x
NuVista Energy	$2.7B	3.0x	5.3x
TORM	$2.7B	3.0x	4.9x
Aegis Logistics	$2.7B	3.1x	19.4x
Petrol Group	$2.6B	0.4x	6.7x
Odfjell Drilling	$2.6B	2.9x	5.9x
International Petroleum	$2.5B	3.7x	10.4x
TGS	$2.4B	1.6x	2.7x
Tullow Oil	$2.4B	2.7x	3.9x
Athabasca Oil Corporation	$2.4B	2.7x	6.0x
DNO	$2.4B	1.5x	2.4x
Genesis Energy New Zealand	$2.4B	1.1x	8.5x
Tsakos Energy Navigation	$2.3B	3.5x	5.8x
Shanghai Petrochemical	$2.3B	0.2x	10.0x
Isramco Negev 2	$2.2B	n/a	n/a
Vermilion Energy	$2.2B	1.5x	2.9x
Alpha Metallurgical	$2.1B	1.0x	15.6x
Sable Offshore	$2.1B	30.4x	-7.3x
DHT Holdings	$2.1B	5.7x	7.4x
Ratio Energies	$2.1B	n/a	n/a
BlueNord	$2.1B	2.2x	3.9x
Paramount Resources	$2.1B	4.0x	2.4x
New Hope Corp	$2.0B	1.8x	4.7x
Beach Energy	$2.0B	1.5x	2.8x
BW Offshore	$2.0B	4.2x	8.3x
Birchcliff Energy	$2.0B	3.7x	6.4x
Advantage Energy	$2.0B	3.7x	6.4x
Navigator Gas	$1.9B	3.5x	6.7x
National Energy Services	$1.9B	1.4x	6.7x
Exxaro Resources	$1.8B	0.8x	3.0x
Stanmore Resources	$1.8B	1.0x	5.4x
Excelerate Energy	$1.8B	1.6x	4.2x
ProFrac	$1.8B	1.0x	6.3x
Wood	$1.8B	0.4x	5.2x
National Gas	$1.8B	n/a	n/a
Viridien	$1.8B	1.5x	3.4x
LandBridge	$1.7B	8.9x	10.1x
Atlas Energy Solutions	$1.7B	1.6x	8.2x
CIMC Enric	$1.7B	0.4x	5.6x
Dana Gas	$1.7B	5.6x	7.6x
Organizacion Terpel	$1.7B	n/a	n/a
World Kinect	$1.6B	0.0x	4.7x
Oil Refineries	$1.6B	n/a	n/a
HighPeak Energy	$1.6B	1.9x	2.6x
Tamar Petroleum	$1.6B	n/a	n/a
Fugro	$1.6B	0.7x	5.3x
CrossAmerica Partners	$1.6B	0.5x	11.7x
Fluxys Belgium	$1.6B	2.2x	4.4x
Petrolimex	$1.6B	0.2x	8.3x
Bukit Asam	$1.6B	0.7x	7.1x
Headwater Exploration	$1.6B	3.6x	5.8x
Afriquia Gaz	$1.5B	1.5x	9.1x
Expro	$1.5B	0.9x	4.3x
Kimbell Royalty Partners	$1.5B	4.7x	5.6x
Nanjing Tanker	$1.5B	1.8x	4.9x
Dorian LPG	$1.5B	3.5x	5.9x
NIS	$1.4B	n/a	n/a
Aker Solutions	$1.4B	0.2x	2.8x
Innovex International	$1.4B	1.5x	8.1x
Select Water	$1.4B	1.0x	5.6x
Tetra Technologies	$1.4B	2.2x	12.5x
Natural Resources	$1.4B	n/a	n/a
Binh Son Refining	$1.3B	0.3x	6.9x
SunCoke Energy	$1.2B	0.7x	5.6x
COOEC	$1.2B	0.3x	2.1x
Helix Energy Solutions	$1.2B	1.0x	4.7x
RPC Inc.	$1.1B	0.7x	4.6x
Capex	$1.1B	n/a	n/a
Teekay Tankers	$1.1B	1.7x	3.8x
EnQuest	$1.1B	1.0x	2.0x
Ramaco Resources	$1.0B	1.9x	28.7x
Maurel & Prom	$1.0B	1.7x	3.5x
Dorchester Minerals	$1.0B	n/a	n/a
Empresas Lipigas	$1.0B	n/a	n/a
Karoon Energy	$976M	1.5x	2.6x
Serica Energy	$958M	1.5x	2.9x
Granite Ridge Resources	$907M	2.0x	2.8x
Indus Gas	$894M	n/a	n/a
Core Laboratories	$892M	1.7x	12.2x
Hallador Energy	$886M	1.9x	16.2x
Vitesse Energy	$861M	3.0x	4.6x
TXO Partners	$847M	2.2x	5.8x
Rompetrol Rafinare	$793M	n/a	n/a
JANAF	$778M	n/a	n/a
GeoPark	$754M	1.5x	2.5x
Greenfire Resources	$753M	n/a	n/a
2G Energy	$723M	1.6x	17.8x
Archer	$711M	0.5x	4.7x
Star Group	$648M	n/a	n/a
Martin Midstream Partners	$614M	n/a	6.1x
SBO	$611M	1.1x	7.0x
Clean Energy Fuels	$610M	1.4x	9.2x
Rockhopper Exploration	$604M	n/a	-156.5x
Sea1 Offshore	$549M	2.1x	3.8x
Tamboran Resources	$544M	67.1x	-28.9x
Nostrum Oil & Gas	$527M	4.3x	n/a
American Resources	$506M	943.4x	-31.5x
VAALCO Energy	$503M	1.4x	3.1x
KN Energies	$490M	n/a	n/a
W&T Offshore	$477M	0.9x	3.5x
Oil States International	$471M	0.7x	5.7x
Deutsche Rohstoff	$448M	2.0x	3.0x
SandRidge Energy	$441M	2.7x	4.3x
Gulf Keystone Petroleum	$410M	2.5x	4.9x
NACCO Industries	$401M	n/a	n/a
Sinopec Kantons Holdings	$400M	n/a	n/a
Kistos Holdings	$375M	1.6x	2.8x
Gas Plus	$369M	n/a	n/a
Dynagas LNG Partners	$359M	n/a	n/a
Prosafe	$345M	2.1x	9.3x
Reach Subsea	$340M	n/a	n/a
Petrolina (Hldgs)	$338M	n/a	n/a
KLX Energy Services Hldgs	$333M	0.5x	4.6x
Amplify Energy	$315M	1.1x	4.1x
Infinity Natural Resources	$310M	0.9x	1.3x
Jadestone Energy	$291M	0.7x	2.0x
PrimeEnergy Resources	$287M	1.6x	2.7x
Akastor	$283M	7.2x	40.4x
Deep Value Driller	$280M	5.0x	5.3x
HMS Bergbau	$270M	0.2x	10.1x
La Francaise de l'Energie	$262M	6.4x	11.0x
Horizon Oil	$215M	2.0x	n/a
Makpetrol	$206M	n/a	n/a
Awilco LNG	$205M	n/a	n/a
Bumech	$202M	n/a	n/a
Geospace Technologies	$199M	n/a	n/a
A.b.p. Nocivelli	$199M	1.7x	9.5x
XCF Global	$193M	n/a	n/a
Smart Sand	$190M	n/a	n/a
Kolibri Global Energy	$188M	3.2x	4.2x
Petrol	$181M	n/a	n/a
Drilling Tools Intl	$156M	1.0x	4.2x
Capricorn Energy	$155M	1.2x	1.9x
Pantheon Resources	$147M	n/a	-11.5x
Eidesvik Offshore	$143M	n/a	n/a
Afentra	$140M	1.1x	1.9x
Okea	$140M	0.2x	0.3x
NorAm Drilling	$133M	1.4x	6.2x
Daldrup & Söhne	$130M	2.3x	14.1x
Conpet	$128M	n/a	n/a
Oil Terminal	$126M	n/a	n/a
Energy World Corp	$126M	n/a	n/a
Omega Oil & Gas	$125M	236.2x	-35.9x
Epsilon Energy	$118M	n/a	n/a
Dolphin Drilling	$99.3M	n/a	n/a
TMD Energy	$95.4M	n/a	n/a
NCS Multistage Holdings	$92.4M	0.5x	3.9x
Docks Petroles d Ambes	$88.5M	n/a	n/a
Bathurst Resources	$87.6M	4.6x	-105.2x
AleAnna	$81.6M	n/a	n/a
Australian Pacific Coal	$79.2M	n/a	n/a
Maha Capital	$78.9M	n/a	n/a
Stabilis Solutions	$78.6M	1.0x	9.1x
Pyxis Tankers	$65.1M	1.8x	4.6x
OMS Energy Technologies	$63.4M	0.3x	1.1x
Robit	$46.9M	0.5x	6.9x
InterOil Exploration	$43.5M	n/a	n/a
Recon Technology	$37.2M	3.8x	-4.0x
Toplivo	$33.0M	n/a	n/a
Imperial Ptrl	$31.1M	0.2x	0.5x
Rompetrol Well Servs	$29.8M	n/a	n/a
Robin Energy	$26.5M	n/a	n/a
Onico	$24.0M	n/a	n/a
ElectroMagnetic	$19.7M	n/a	n/a
Ecoslops	$17.2M	n/a	n/a
Uni-Fuels	$17.2M	0.1x	17.5x
Hunter Group	$15.5M	n/a	n/a
Delixy Holdings	$15.5M	n/a	n/a
Atlantic Petroleum	$12.6M	n/a	n/a
Acceleware	$9.6M	n/a	n/a
Petrolia	$8.5M	n/a	n/a
PTL Limited	$7.2M	n/a	n/a
Oil and Gas Explr and Pro	$7.0M	n/a	n/a
Igrene	$3.1M	n/a	n/a
Clean & Carbon Energy	$2.8M	n/a	n/a
Condmag	$1.1M	n/a	n/a
S.D. Standard ETC	-$17.8M	n/a	n/a
Mammoth Energy Services	-$18.0M	n/a	n/a
LW Bogdanka	-$64.5M	-0.1x	-0.4x
Teekay	-$108M	n/a	n/a