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	$1.68T	3.9x	7.3x
Exxon Mobil	$492B	1.4x	6.9x
Chevron	$272B	1.4x	6.2x
Shell	$240B	0.8x	3.8x
Reliance Industries	$239B	2.1x	12.1x
PetroChina	$209B	0.5x	3.2x
Enbridge	$174B	4.6x	12.7x
TotalEnergies	$162B	0.8x	3.8x
ConocoPhillips	$135B	2.3x	5.4x
China Petroleum	$135B	0.3x	4.9x
Petrobras	$129B	1.4x	3.1x
Energy Transfer	$122B	1.4x	7.7x
BP	$117B	0.6x	3.1x
Enterprise Products	$100B	1.7x	10.0x
Williams Companies	$98.2B	8.9x	13.4x
TC Energy	$95.3B	8.5x	12.0x
Kinder Morgan	$93.9B	6.0x	11.6x
CNOOC	$90.3B	1.6x	2.5x
China Shenhua Energy	$87.1B	1.9x	6.0x
ONEOK	$85.9B	3.6x	11.8x
Canadian Natural Resources	$79.9B	3.0x	6.5x
Marathon Petroleum	$78.4B	0.6x	7.7x
Occidental Petroleum	$75.3B	2.8x	5.5x
Cheniere Energy	$74.4B	4.3x	11.6x
MPLX	$72.2B	5.9x	10.5x
Equinor	$68.5B	0.6x	1.6x
Phillips 66	$68.5B	0.5x	10.1x
Eni	$67.7B	0.7x	3.4x
ADNOC Gas	$63.5B	3.3x	8.0x
EOG Resources	$62.1B	2.7x	5.0x
Schlumberger	$58.9B	1.6x	6.6x
Diamondback Energy	$54.8B	4.5x	6.6x
Suncor Energy	$53.3B	1.5x	4.6x
Targa Resources	$52.8B	2.9x	12.1x
Venture Global	$52.1B	6.6x	14.2x
ONGC	$50.6B	0.7x	4.4x
Hess	$50.1B	4.0x	7.2x
Valero Energy	$48.5B	0.4x	7.9x
PTT	$46.8B	0.5x	3.9x
Cheniere Energy Partners	$43.2B	4.5x	11.8x
Ecopetrol	$42.2B	1.4x	3.3x
EQT Corporation	$41.8B	6.5x	9.4x
Baker Hughes	$40.6B	1.5x	8.8x
IndianOil	$39.4B	0.4x	9.0x
Imperial Oil	$39.1B	1.0x	6.9x
Woodside Energy	$33.8B	2.6x	3.7x
Pembina Pipeline	$32.5B	6.0x	10.3x
Expand Energy	$31.9B	4.7x	9.2x
SK Innovation	$31.8B	0.6x	13.0x
Texas Pacific	$31.3B	41.6x	49.2x
Cenovus Energy	$31.2B	0.7x	4.4x
Devon Energy	$29.7B	1.8x	3.9x
Orlen	$27.5B	0.3x	3.2x
ADNOC Drilling Company	$25.9B	6.0x	12.5x
Halliburton	$25.1B	1.1x	5.2x
ENEOS Holdings	$24.6B	0.3x	6.6x
YPF	$23.7B	1.3x	4.8x
Coterra Energy	$23.2B	3.7x	5.7x
Western Midstream	$21.9B	6.0x	9.2x
Repsol	$21.7B	0.4x	2.6x
Plains All American Pipeline	$20.9B	0.4x	7.5x
Bharat Petroleum	$20.9B	0.4x	6.9x
Inpex	$20.1B	1.3x	2.1x
Dian Swastatika Sentosa	$18.7B	n/a	n/a
Aker BP	$18.6B	1.5x	1.7x
OMV	$18.3B	0.5x	2.3x
Santos	$18.2B	3.3x	5.0x
Tourmaline Oil	$17.8B	3.8x	6.7x
Ovintiv	$17.0B	1.9x	3.8x
Antero Resources	$16.6B	3.5x	11.7x
Tenaris	$15.9B	1.2x	5.1x
Sunoco	$15.9B	0.7x	9.7x
Idemitsu Kosan	$15.7B	0.3x	7.1x
AltaGas	$15.6B	1.7x	12.1x
Galp Energia	$14.5B	0.6x	4.2x
TechnipFMC	$13.8B	1.5x	9.2x
DT Midstream	$13.8B	13.0x	13.3x
Neste	$13.5B	0.6x	9.7x
Permian Resources	$13.2B	2.6x	3.5x
ARC Resources	$13.1B	3.3x	5.7x
Nakilat	$12.5B	12.2x	14.4x
Plains GP Holdings	$12.3B	0.2x	4.4x
Vår Energi	$12.1B	1.5x	1.9x
APA	$12.1B	1.5x	2.2x
Antero Midstream	$11.9B	10.6x	11.2x
Cosan	$11.9B	0.4x	2.9x
SBM Offshore	$11.9B	2.0x	6.7x
Quinenco	$11.9B	n/a	n/a
PTTEP	$11.5B	1.3x	1.7x
Formosa Petrochemical	$11.3B	0.5x	19.0x
Range Resources	$11.2B	4.2x	8.6x
HD Hyundai	$10.4B	0.2x	2.7x
COSCO SHIPPING Energy	$10.3B	3.1x	7.6x
National Fuel Gas	$10.1B	4.4x	7.6x
Comstock Resources	$10.0B	6.6x	10.0x
Keyera	$9.9B	2.0x	11.1x
Oil India	$9.9B	3.1x	7.6x
China Merchants Energy	$9.6B	2.6x	6.4x
HF Sinclair	$9.5B	0.3x	7.8x
Parkland	$9.5B	0.5x	7.6x
MOL Group	$9.1B	0.4x	2.8x
Capital Power	$9.1B	3.5x	9.0x
Matador Resources	$9.1B	2.5x	3.8x
Transocean	$8.8B	2.4x	7.4x
S-Oil	$8.7B	0.3x	9.4x
PRIO	$8.6B	3.5x	5.0x
Harbour Energy	$8.5B	1.1x	1.7x
China Oilfield Services	$8.4B	1.2x	5.2x
Whitecap Resources	$8.4B	2.6x	4.4x
DCC	$8.2B	0.3x	6.4x
Hess Midstream	$8.1B	5.2x	6.9x
Civitas Resources	$8.0B	1.6x	2.3x
Royal Vopak	$8.0B	4.1x	6.8x
Shaanxi Energy Investment	$7.7B	2.4x	6.6x
Icahn Enterprises	$7.6B	0.8x	n/a
CNX Resources	$7.5B	5.2x	6.9x
Ades Holding	$7.5B	4.4x	8.9x
Guanghui Energy	$7.4B	1.4x	7.7x
Frontline	$7.3B	4.1x	7.0x
OMV Petrom	$7.2B	0.9x	3.7x
Cosmo Energy Holdings	$7.1B	0.4x	5.2x
Guangzhou Development Group	$7.1B	1.1x	n/a
Archrock	$6.8B	5.4x	10.2x
NextDecade	$6.7B	n/a	-41.5x
Delek Group	$6.7B	2.0x	n/a
Chord Energy	$6.7B	1.3x	2.9x
Sinopec Oilfield Service	$6.6B	0.6x	n/a
Ampol	$6.6B	0.3x	8.0x
Kinetik Holdings	$6.5B	4.1x	6.4x
Strathcona Resources	$6.5B	1.8x	4.2x
Vista Energy	$6.4B	3.3x	5.0x
Tüpraş	$6.4B	0.3x	5.3x
Saipem	$6.4B	0.4x	4.0x
Seatrium	$6.4B	0.9x	10.8x
Banpu	$6.2B	1.2x	5.2x
Veren	$6.2B	2.0x	3.4x
NOV Inc.	$6.1B	0.7x	5.6x
Crescent Energy	$6.1B	1.9x	3.6x
Centrica	$6.1B	0.2x	2.4x
INA-Industrija Nafte	$6.0B	n/a	n/a
NewMed Energy	$6.0B	6.1x	n/a
Viper Energy	$5.9B	6.0x	6.5x
Kodiak Gas Services	$5.8B	4.8x	9.0x
Gaztransport & Technigaz	$5.8B	7.5x	12.0x
Thaioil	$5.7B	0.4x	7.9x
Kunlun Energy	$5.7B	0.2x	2.4x
SM Energy	$5.7B	2.0x	2.7x
Subsea 7	$5.5B	0.8x	4.4x
USA Compression	$5.4B	5.6x	9.2x
Grupo Ultra	$5.4B	0.2x	5.5x
Energean	$5.4B	3.4x	4.9x
Worley	$5.4B	0.7x	8.3x
Viva Energy Australia	$5.4B	0.3x	11.4x
PBF Energy	$5.3B	0.2x	137.0x
Northern Oil & Gas	$5.2B	2.3x	3.3x
Rubis	$5.2B	0.7x	6.4x
ChampionX	$5.2B	1.4x	6.7x
Murphy Oil	$5.1B	1.8x	3.2x
Golar LNG	$5.1B	15.8x	19.3x
HELLENiQ ENERGY	$5.0B	0.4x	4.9x
Genesis Energy	$4.9B	2.0x	8.3x
Bangchak Corporation	$4.9B	0.3x	4.2x
California Resources	$4.8B	1.5x	4.6x
MEG Energy	$4.7B	1.3x	4.6x
Motor Oil (Hellas)	$4.7B	0.4x	4.5x
Romgaz	$4.7B	2.7x	5.3x
PTT Oil and Retail	$4.7B	0.2x	8.5x
Brava Energia	$4.7B	2.5x	6.1x
Luberef	$4.6B	1.8x	13.6x
Petronet LNG	$4.6B	0.7x	7.1x
CNOOC Energy Technology	$4.5B	0.6x	4.6x
Magnolia Oil & Gas	$4.5B	3.4x	4.8x
Gibson Energy	$4.5B	0.6x	10.4x
Weatherford	$4.5B	0.9x	3.5x
MedcoEnergi	$4.5B	2.0x	3.6x
CMB.Tech	$4.4B	3.0x	6.8x
Yinson	$4.4B	2.8x	6.9x
Transportadora de Gas del Sur	$4.4B	3.6x	6.7x
PetroVietnam Gas	$4.3B	1.1x	6.9x
Delek Logistics	$4.3B	4.5x	9.6x
MyMesra	$4.3B	0.5x	9.3x
Mangalore Refinery	$4.3B	0.4x	13.8x
Gulfport Energy	$4.3B	3.8x	5.4x
Jereh Group	$4.2B	2.1x	7.8x
PrairieSky Royalty	$4.2B	11.2x	12.4x
Ithaca Energy	$4.0B	1.7x	2.5x
Helmerich & Payne	$3.9B	1.2x	4.4x
Global Partners	$3.8B	0.2x	9.5x
Kosmos Energy	$3.8B	2.3x	3.8x
Peyto	$3.8B	4.2x	5.4x
Alliance Res Partners	$3.8B	1.6x	5.4x
Woqod	$3.6B	n/a	n/a
SK Gas	$3.6B	0.7x	9.4x
Delek US Holdings	$3.6B	0.3x	10.4x
CVR Energy	$3.6B	0.5x	10.8x
Aegis Logistics	$3.5B	4.6x	29.1x
Patterson-UTI	$3.5B	0.7x	3.2x
Valaris	$3.5B	1.5x	7.0x
Navitas Petroleum	$3.5B	n/a	n/a
Calumet	$3.4B	0.8x	16.0x
Equital	$3.2B	n/a	n/a
Topaz Energy	$3.1B	13.0x	13.5x
Vital Energy	$3.1B	1.6x	2.4x
Baytex Energy	$3.1B	1.1x	2.0x
Technip Energies	$3.0B	0.4x	4.3x
Cactus	$2.7B	2.4x	7.2x
Flex LNG	$2.7B	7.3x	9.5x
Petrol Group	$2.7B	n/a	n/a
BlueNord	$2.7B	2.8x	4.5x
Arabian Drilling	$2.6B	2.7x	6.6x
TerraVest Industries	$2.6B	2.9x	15.5x
Talos Energy	$2.6B	1.4x	2.1x
Scorpio Tankers	$2.6B	2.3x	3.8x
Liberty Energy	$2.6B	0.6x	3.1x
Sitio Royalties	$2.5B	4.2x	4.7x
TORM	$2.5B	2.4x	3.4x
Par Pacific Holdings	$2.5B	0.3x	10.4x
Oceaneering	$2.5B	0.9x	6.8x
Vermilion Energy	$2.5B	1.6x	2.7x
OGDC	$2.4B	1.6x	2.6x
TGS	$2.4B	1.6x	2.6x
Tidewater	$2.4B	1.8x	4.3x
International Seaways	$2.4B	2.7x	4.5x
Genesis Energy New Zealand	$2.3B	1.0x	8.6x
HighPeak Energy	$2.3B	2.3x	2.9x
LandBridge	$2.2B	15.4x	17.3x
NuVista Energy	$2.2B	2.3x	4.0x
Beach Energy	$2.2B	1.8x	3.0x
ProFrac	$2.2B	1.0x	4.6x
Mach Natural Resources	$2.2B	2.2x	3.6x
Atlas Energy Solutions	$2.1B	1.9x	6.9x
Tamarack Valley Energy	$2.1B	1.7x	2.9x
DHT Holdings	$2.1B	5.4x	7.1x
BKV Corporation	$2.0B	2.9x	7.2x
Paramount Resources	$2.0B	2.1x	4.0x
World Kinect	$2.0B	0.0x	5.4x
Jiangxi Jovo Energy Co	$2.0B	0.6x	6.6x
International Petroleum	$2.0B	2.5x	6.4x
Odfjell Drilling	$1.9B	2.3x	4.9x
AKSA Enerji	$1.9B	2.4x	8.0x
BW Offshore	$1.9B	3.0x	5.7x
Tsakos Energy Navigation	$1.8B	2.8x	4.7x
Shanghai Petrochemical	$1.8B	0.2x	5.7x
Birchcliff Energy	$1.8B	3.6x	5.8x
Advantage Energy	$1.8B	3.7x	7.1x
CrossAmerica Partners	$1.8B	0.5x	12.1x
Athabasca Oil Corporation	$1.7B	1.7x	4.1x
Navigator Gas	$1.7B	3.0x	5.6x
Bukit Asam	$1.7B	0.6x	3.9x
Fluxys Belgium	$1.6B	n/a	n/a
MRC Global	$1.6B	0.5x	8.0x
National Gas	$1.6B	n/a	n/a
Kimbell Royalty Partners	$1.6B	4.9x	5.8x
Fugro	$1.5B	0.6x	3.0x
Afriquia Gaz	$1.5B	1.6x	8.4x
Wood	$1.4B	0.2x	3.2x
Modec	$1.4B	0.3x	3.4x
Viridien	$1.4B	1.2x	2.9x
Dorian LPG	$1.4B	3.9x	7.0x
Aker Solutions	$1.4B	0.3x	3.1x
Natural Resources	$1.4B	n/a	n/a
Petrolimex	$1.4B	0.1x	5.9x
Capex	$1.4B	n/a	n/a
Nanjing Tanker	$1.4B	1.5x	3.6x
Dana Gas	$1.3B	3.8x	5.2x
Dorchester Minerals	$1.3B	n/a	n/a
Helix Energy Solutions	$1.3B	1.0x	4.3x
Select Water	$1.2B	0.8x	4.4x
DNO	$1.1B	1.5x	2.2x
Innovex International	$1.1B	1.4x	6.7x
Expro	$1.0B	0.6x	3.0x
Maurel & Prom	$1.0B	1.3x	2.9x
Headwater Exploration	$984M	2.3x	3.5x
Excelerate Energy	$968M	1.0x	2.6x
Teekay Tankers	$931M	1.4x	2.4x
COOEC	$918M	0.2x	1.7x
CIMC Enric	$909M	0.3x	3.3x
Hallador Energy	$821M	2.0x	40.1x
RPC Inc.	$800M	0.5x	3.4x
JANAF	$776M	n/a	n/a
Core Laboratories	$742M	1.4x	9.6x
Star Group	$721M	n/a	n/a
Schoeller-Bleckmann	$705M	1.1x	6.1x
Sea1 Offshore	$640M	1.9x	3.8x
Gas Arabian Services	$620M	2.0x	21.4x
2G Energy	$611M	1.4x	12.3x
Archer	$584M	0.4x	3.8x
Tetra Technologies	$574M	0.9x	5.6x
Esso	$569M	n/a	n/a
Infinity Natural Resources	$539M	1.8x	2.4x
Sinopec Kantons Holdings	$512M	5.9x	n/a
KN Energies	$451M	n/a	n/a
Prosafe	$397M	2.5x	10.9x
Dynagas LNG Partners	$394M	2.6x	n/a
Oil States International	$380M	0.5x	4.7x
Deutsche Rohstoff	$378M	1.6x	2.2x
Reach Subsea	$371M	1.4x	3.2x
Akastor	$331M	4.7x	7.6x
Petrolina (Hldgs)	$314M	n/a	n/a
Tamboran Resources	$258M	n/a	-10.4x
Deep Value Driller	$231M	4.1x	4.4x
Makpetrol	$218M	n/a	n/a
La Francaise de l'Energie	$218M	6.2x	9.3x
Awilco LNG	$199M	n/a	n/a
Gas Plus	$192M	n/a	n/a
Uni-Fuels	$165M	n/a	n/a
HMS Bergbau	$155M	0.1x	6.9x
Eidesvik Offshore	$147M	n/a	n/a
Conpet	$127M	n/a	n/a
A.b.p. Nocivelli	$119M	1.4x	7.0x
Oil Terminal	$104M	n/a	n/a
NorAm Drilling	$91.5M	0.9x	4.0x
Okea	$80.9M	0.1x	0.1x
Pyxis Tankers	$79.8M	1.7x	3.5x
Daldrup & Söhne	$78.3M	1.3x	8.5x
Docks Petroles d Ambes	$67.6M	n/a	n/a
Argeo	$64.8M	n/a	n/a
Dolphin Drilling	$62.8M	0.6x	-2.5x
Geospace Technologies	$59.4M	n/a	n/a
Crown LNG Holdings	$58.8M	n/a	n/a
Robit	$56.2M	0.5x	7.0x
SeaBird Exploration	$55.9M	0.7x	1.5x
Bumech	$54.5M	n/a	n/a
PTL Limited	$53.4M	n/a	n/a
Onico	$44.4M	n/a	n/a
InterOil Explr	$35.5M	n/a	n/a
ElectroMagnetic	$34.8M	n/a	n/a
Rompetrol Well Servs	$27.9M	n/a	n/a
Teekay	$27.8M	n/a	n/a
Toplivo	$24.6M	n/a	n/a
Petrolia	$16.7M	n/a	n/a
Aquila Holdings	$15.4M	n/a	n/a
Ecoslops	$15.2M	n/a	n/a
Atlantic Petroleum	$12.2M	n/a	n/a
Acceleware	$9.5M	n/a	n/a
Oil and Gas Explr and Pro	$8.4M	n/a	n/a
Robin Energy	$6.7M	n/a	n/a
S.D. Standard ETC	$6.6M	n/a	n/a
Hunter Group	$6.0M	n/a	n/a
Igrene	$3.6M	n/a	n/a
Clean & Carbon Energy	$3.1M	n/a	n/a
Condmag	-$0.4M	n/a	n/a
Standard Supply	-$1.4M	n/a	n/a
LW Bogdanka	-$10.5M	-0.0x	-0.0x
Maha Energy	-$22.9M	n/a	n/a
Imperial Ptrl	-$115M	-0.8x	-2.0x