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	$1.70T	3.9x	7.3x
Exxon Mobil	$465B	1.3x	6.4x
Chevron	$255B	1.3x	5.7x
Shell	$216B	0.7x	3.4x
Reliance Industries	$206B	1.8x	10.6x
PetroChina	$202B	0.5x	3.1x
Enbridge	$166B	4.6x	12.5x
TotalEnergies	$136B	0.7x	3.3x
China Petroleum	$130B	0.3x	4.7x
Petrobras	$128B	1.4x	3.0x
ConocoPhillips	$127B	2.2x	5.0x
Energy Transfer	$116B	1.4x	7.4x
BP	$104B	0.5x	2.7x
Enterprise Products	$95.8B	1.7x	9.6x
Williams Companies	$95.7B	8.8x	13.2x
TC Energy	$90.9B	8.3x	11.7x
Kinder Morgan	$90.4B	5.8x	11.2x
CNOOC	$88.0B	1.5x	2.4x
China Shenhua Energy	$83.9B	1.8x	5.7x
ONEOK	$82.9B	3.6x	11.5x
Cheniere Energy	$72.0B	4.2x	11.3x
Equinor	$71.7B	0.7x	1.7x
Occidental Petroleum	$70.2B	2.6x	5.0x
MPLX	$69.2B	5.7x	10.1x
Canadian Natural Resources	$68.5B	2.6x	5.6x
Marathon Petroleum	$64.0B	0.5x	6.3x
Eni	$61.3B	0.6x	3.2x
ADNOC Gas	$58.1B	2.9x	7.3x
Phillips 66	$58.0B	0.4x	8.4x
EOG Resources	$57.8B	2.4x	4.5x
Schlumberger	$53.6B	1.5x	5.9x
Diamondback Energy	$51.1B	4.2x	6.0x
Targa Resources	$49.7B	2.8x	11.5x
ONGC	$48.6B	0.7x	4.2x
Suncor Energy	$48.0B	1.3x	4.2x
Hess	$48.0B	3.8x	6.7x
Venture Global	$46.2B	6.4x	13.6x
PTT	$45.5B	0.5x	3.9x
Ecopetrol	$43.3B	1.4x	3.3x
Cheniere Energy Partners	$43.0B	4.7x	11.8x
Valero Energy	$41.7B	0.3x	6.6x
Baker Hughes	$40.2B	1.4x	8.6x
EQT Corporation	$38.8B	6.3x	9.1x
IndianOil	$38.8B	0.4x	10.2x
Imperial Oil	$33.1B	0.9x	5.9x
Pembina Pipeline	$31.2B	5.7x	10.1x
Woodside Energy	$31.1B	2.4x	3.4x
SK Innovation	$31.0B	0.6x	13.3x
Expand Energy	$29.5B	4.8x	9.3x
ENEOS Holdings	$29.1B	0.3x	6.2x
Texas Pacific	$28.0B	36.5x	43.1x
Devon Energy	$26.7B	1.6x	3.5x
Cenovus Energy	$25.7B	0.6x	3.7x
Halliburton	$24.1B	1.1x	4.9x
Orlen	$23.9B	0.3x	2.9x
ADNOC Drilling Company	$23.4B	5.5x	11.4x
YPF	$23.0B	1.2x	4.5x
Coterra Energy	$21.0B	3.4x	5.3x
Western Midstream	$20.9B	5.7x	8.8x
Bharat Petroleum	$19.5B	0.4x	7.0x
Plains All American Pipeline	$19.4B	0.4x	6.9x
Inpex	$18.5B	1.3x	2.0x
Repsol	$18.0B	0.3x	2.2x
OMV	$17.1B	0.5x	2.2x
Aker BP	$16.8B	1.3x	1.5x
Santos	$16.2B	3.0x	4.5x
Dian Swastatika Sentosa	$15.9B	n/a	n/a
Tourmaline Oil	$15.9B	3.5x	6.1x
AltaGas	$15.6B	1.7x	12.4x
Sunoco	$15.2B	0.7x	9.6x
Ovintiv	$14.8B	1.7x	3.3x
Idemitsu Kosan	$14.7B	0.2x	6.8x
Antero Resources	$14.3B	3.0x	10.7x
Tenaris	$13.5B	1.1x	4.4x
Galp Energia	$13.0B	0.6x	3.8x
DT Midstream	$12.9B	12.4x	12.6x
ARC Resources	$12.0B	3.1x	5.3x
Vår Energi	$11.8B	1.4x	1.8x
Nakilat	$11.7B	11.7x	13.6x
Permian Resources	$11.7B	2.3x	3.1x
Quinenco	$11.5B	n/a	n/a
PTTEP	$11.3B	1.3x	1.7x
TechnipFMC	$11.2B	1.2x	7.6x
Plains GP Holdings	$11.1B	0.2x	4.0x
APA	$11.0B	1.3x	1.9x
Antero Midstream	$10.8B	9.7x	10.2x
SBM Offshore	$10.7B	1.9x	6.1x
Neste	$10.5B	0.5x	7.9x
Cosan	$10.3B	0.4x	2.5x
COSCO SHIPPING Energy	$9.9B	3.0x	7.5x
National Fuel Gas	$9.8B	4.4x	7.4x
Range Resources	$9.5B	3.6x	7.2x
HD Hyundai	$9.5B	0.2x	2.9x
Formosa Petrochemical	$9.4B	0.5x	18.3x
China Merchants Energy	$9.4B	2.6x	6.2x
Keyera	$9.1B	1.8x	10.3x
Oil India	$8.9B	2.8x	7.0x
Comstock Resources	$8.7B	6.1x	8.9x
Transocean	$8.7B	2.4x	7.3x
Matador Resources	$8.3B	2.3x	3.4x
Parkland	$8.2B	0.4x	6.7x
S-Oil	$8.2B	0.3x	8.4x
MOL Group	$8.1B	0.3x	2.6x
Harbour Energy	$8.0B	1.1x	1.7x
DCC	$7.9B	0.3x	6.4x
PRIO	$7.9B	3.1x	4.4x
Capital Power	$7.8B	3.2x	8.2x
OMV Petrom	$7.7B	1.0x	3.9x
Hess Midstream	$7.6B	4.9x	6.5x
Shaanxi Energy Investment	$7.6B	2.4x	n/a
Ades Holding	$7.6B	4.5x	9.1x
China Oilfield Services	$7.6B	1.1x	4.8x
HF Sinclair	$7.5B	0.3x	6.5x
Royal Vopak	$7.5B	4.0x	6.5x
Guanghui Energy	$7.3B	n/a	n/a
Civitas Resources	$7.0B	1.4x	1.9x
Tüpraş	$6.9B	0.3x	5.5x
CNX Resources	$6.8B	4.6x	6.3x
Frontline	$6.8B	3.6x	6.5x
Guangzhou Development Group	$6.6B	n/a	n/a
Sinopec Oilfield Service	$6.6B	0.6x	n/a
Cosmo Energy Holdings	$6.5B	0.3x	4.9x
Chord Energy	$6.3B	1.2x	2.7x
Icahn Enterprises	$6.2B	0.7x	n/a
Delek Group	$6.1B	1.9x	n/a
Kinetik Holdings	$6.1B	3.9x	6.0x
Viper Energy	$6.0B	6.2x	6.7x
Strathcona Resources	$5.8B	1.6x	3.9x
Banpu	$5.7B	1.1x	5.1x
NextDecade	$5.7B	n/a	-41.9x
INA-Industrija Nafte	$5.7B	n/a	n/a
Genesis Energy	$5.7B	2.1x	9.5x
Ampol	$5.7B	0.3x	7.1x
NOV Inc.	$5.6B	0.6x	5.0x
Centrica	$5.6B	0.2x	2.2x
Veren	$5.5B	1.8x	3.1x
Kodiak Gas Services	$5.5B	4.5x	8.6x
Thaioil	$5.5B	0.4x	7.8x
Kunlun Energy	$5.4B	0.2x	2.3x
USA Compression	$5.3B	5.5x	9.0x
NewMed Energy	$5.3B	5.5x	n/a
Seatrium	$5.3B	0.8x	9.5x
SM Energy	$5.3B	1.8x	2.5x
Grupo Ultra	$5.1B	0.2x	5.1x
Energean	$4.9B	3.4x	4.9x
Saipem	$4.9B	0.3x	3.2x
Viva Energy Australia	$4.9B	0.3x	10.5x
ChampionX	$4.9B	1.3x	6.2x
Gaztransport & Technigaz	$4.8B	6.6x	10.6x
Golar LNG	$4.8B	15.6x	18.4x
Worley	$4.8B	0.6x	7.6x
Luberef	$4.7B	1.8x	13.8x
Romgaz	$4.7B	2.7x	5.3x
Bangchak Corporation	$4.6B	0.3x	4.1x
Murphy Oil	$4.6B	1.5x	2.8x
HELLENiQ ENERGY	$4.6B	0.3x	4.5x
Northern Oil & Gas	$4.6B	2.1x	2.9x
Subsea 7	$4.6B	0.6x	3.7x
Vista Energy	$4.5B	2.5x	3.7x
Brava Energia	$4.5B	2.5x	5.8x
Transportadora de Gas del Sur	$4.5B	3.8x	7.3x
Crescent Energy	$4.5B	1.4x	2.7x
Rubis	$4.4B	0.6x	5.7x
MedcoEnergi	$4.4B	1.9x	3.5x
CNOOC Energy Technology	$4.3B	0.6x	4.4x
Mangalore Refinery	$4.2B	0.4x	15.4x
Motor Oil (Hellas)	$4.2B	0.3x	4.1x
Gibson Energy	$4.2B	0.5x	9.8x
PetroVietnam Gas	$4.2B	1.0x	6.7x
Yinson	$4.1B	2.6x	6.6x
MEG Energy	$4.1B	1.1x	4.0x
CMB.Tech	$4.1B	2.7x	6.3x
Petronet LNG	$4.1B	0.7x	6.4x
Archrock	$4.0B	3.2x	6.2x
Weatherford	$4.0B	0.7x	3.0x
Magnolia Oil & Gas	$4.0B	3.0x	4.1x
California Resources	$4.0B	1.2x	3.8x
Jereh Group	$3.9B	2.0x	7.5x
PrairieSky Royalty	$3.9B	10.6x	12.0x
PTT Oil and Retail	$3.8B	0.2x	7.3x
Delek Logistics	$3.8B	4.0x	8.7x
MyMesra	$3.8B	0.4x	8.6x
Gulfport Energy	$3.7B	3.4x	4.7x
Whitecap Resources	$3.7B	1.4x	2.6x
Ithaca Energy	$3.7B	1.7x	2.5x
Alliance Res Partners	$3.7B	1.5x	5.3x
Global Partners	$3.6B	0.2x	9.2x
PBF Energy	$3.6B	0.1x	42.5x
Kosmos Energy	$3.5B	2.1x	3.5x
SK Gas	$3.5B	0.7x	10.0x
Woqod	$3.4B	n/a	n/a
Patterson-UTI	$3.3B	0.6x	2.9x
Aegis Logistics	$3.3B	4.4x	27.6x
Peyto	$3.3B	3.8x	4.8x
Helmerich & Payne	$3.2B	1.0x	3.5x
Calumet	$3.2B	0.8x	14.8x
Navitas Petroleum	$3.1B	n/a	n/a
Valaris	$3.0B	1.3x	6.1x
Vital Energy	$3.0B	1.5x	2.3x
Equital	$3.0B	n/a	n/a
Delek US Holdings	$2.9B	0.3x	8.7x
Topaz Energy	$2.8B	12.1x	12.6x
Baytex Energy	$2.8B	1.0x	1.9x
Arabian Drilling	$2.8B	2.8x	6.9x
CVR Energy	$2.7B	0.4x	8.6x
Flex LNG	$2.6B	7.0x	9.2x
BlueNord	$2.6B	2.8x	4.8x
Talos Energy	$2.4B	1.2x	2.0x
TORM	$2.4B	2.2x	3.1x
Petrol Group	$2.3B	n/a	n/a
Sitio Royalties	$2.3B	3.7x	4.2x
Liberty Energy	$2.3B	0.5x	2.7x
Scorpio Tankers	$2.2B	2.0x	3.1x
Shanghai Petrochemical	$2.2B	0.2x	7.3x
Mach Natural Resources	$2.2B	2.2x	3.7x
International Seaways	$2.2B	2.4x	4.0x
Genesis Energy New Zealand	$2.2B	1.0x	8.4x
Cactus	$2.2B	1.9x	5.7x
OGDC	$2.2B	1.4x	1.9x
TGS	$2.2B	1.4x	2.4x
Atlas Energy Solutions	$2.2B	1.9x	6.8x
Tidewater	$2.1B	1.6x	3.9x
Par Pacific Holdings	$2.1B	0.3x	8.8x
Oceaneering	$2.1B	0.8x	5.8x
HighPeak Energy	$2.1B	2.0x	2.5x
Technip Energies	$2.1B	0.3x	3.1x
Jiangxi Jovo Energy Co	$2.1B	n/a	n/a
DHT Holdings	$2.0B	5.1x	6.6x
ProFrac	$2.0B	0.9x	4.1x
TerraVest Industries	$2.0B	2.4x	12.5x
Beach Energy	$1.9B	1.6x	2.8x
LandBridge	$1.9B	13.9x	15.5x
World Kinect	$1.9B	0.0x	5.0x
Tamarack Valley Energy	$1.8B	1.5x	2.6x
NuVista Energy	$1.8B	2.0x	3.5x
AKSA Enerji	$1.8B	2.3x	7.9x
National Gas	$1.7B	n/a	n/a
CrossAmerica Partners	$1.7B	0.5x	11.9x
Odfjell Drilling	$1.7B	2.1x	4.6x
Paramount Resources	$1.7B	1.7x	3.2x
Bukit Asam	$1.7B	0.8x	3.7x
International Petroleum	$1.6B	2.1x	5.3x
Fugro	$1.6B	0.6x	3.2x
Navigator Gas	$1.6B	2.8x	5.3x
Birchcliff Energy	$1.6B	3.3x	5.6x
BKV Corporation	$1.6B	2.3x	5.9x
Vermilion Energy	$1.5B	1.0x	1.8x
Advantage Energy	$1.5B	3.4x	6.6x
Athabasca Oil Corporation	$1.5B	1.5x	3.7x
Wood	$1.5B	0.3x	3.3x
Afriquia Gaz	$1.5B	1.6x	8.6x
Dana Gas	$1.4B	3.6x	5.4x
Nanjing Tanker	$1.4B	1.6x	3.7x
MRC Global	$1.4B	0.5x	6.9x
Fluxys Belgium	$1.4B	n/a	n/a
Natural Resources	$1.4B	n/a	n/a
Kimbell Royalty Partners	$1.3B	4.2x	5.0x
Dorchester Minerals	$1.3B	n/a	n/a
Dorian LPG	$1.3B	3.5x	6.2x
Petrolimex	$1.3B	0.1x	5.9x
Helix Energy Solutions	$1.3B	0.9x	4.0x
Capex	$1.3B	n/a	n/a
Viridien	$1.2B	1.1x	2.8x
COOEC	$1.2B	0.3x	2.1x
Aker Solutions	$1.1B	0.2x	2.6x
Innovex International	$1.1B	1.4x	6.7x
DNO	$993M	1.3x	2.2x
Select Water	$949M	0.6x	3.6x
Expro	$942M	0.6x	2.7x
Excelerate Energy	$922M	1.1x	2.6x
Teekay Tankers	$878M	1.3x	2.2x
Maurel & Prom	$854M	1.1x	2.4x
Headwater Exploration	$810M	1.9x	2.9x
Modec	$805M	0.2x	2.0x
RPC Inc.	$753M	0.5x	3.3x
JANAF	$741M	n/a	n/a
Core Laboratories	$730M	1.4x	9.3x
CIMC Enric	$702M	0.2x	2.6x
Star Group	$699M	n/a	n/a
Gas Arabian Services	$639M	2.2x	23.7x
Hallador Energy	$619M	1.5x	32.1x
Schoeller-Bleckmann	$601M	1.0x	5.4x
Esso	$585M	n/a	n/a
Infinity Natural Resources	$501M	1.7x	2.3x
Tetra Technologies	$481M	0.8x	4.6x
2G Energy	$471M	1.1x	10.4x
Sinopec Kantons Holdings	$416M	4.8x	n/a
Deutsche Rohstoff	$311M	1.3x	1.8x
Oil States International	$299M	0.4x	3.7x
Tamboran Resources	$278M	n/a	-13.0x
La Francaise de l'Energie	$193M	5.9x	8.7x
Uni-Fuels	$185M	n/a	n/a
HMS Bergbau	$148M	0.1x	7.0x
Daldrup & Söhne	$66.8M	1.2x	7.5x
Geospace Technologies	$58.2M	n/a	n/a
Docks Petroles d Ambes	$52.4M	n/a	n/a
Ecoslops	$15.0M	n/a	n/a
PTL Limited	$14.6M	n/a	n/a
Acceleware	$10.1M	n/a	n/a
Teekay	-$107M	n/a	n/a