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	$1.65T	3.7x	7.4x
Exxon Mobil	$562B	1.7x	8.1x
Chevron	$361B	1.9x	8.7x
PetroChina	$265B	0.7x	4.1x
Shell	$244B	0.9x	4.3x
Reliance Industries	$233B	2.1x	11.5x
Enbridge	$179B	4.1x	12.5x
TotalEnergies	$174B	0.9x	4.5x
China Petroleum	$150B	0.4x	5.5x
China Petroleum	$149B	0.4x	5.5x
ConocoPhillips	$136B	2.2x	5.4x
Petrobras	$134B	1.5x	3.1x
BP	$128B	0.7x	3.5x
Energy Transfer	$120B	1.5x	7.5x
CNOOC	$107B	1.8x	3.0x
China Shenhua Energy	$105B	2.4x	7.1x
Enterprise Products	$103B	2.0x	10.5x
Williams Companies	$102B	9.0x	13.2x
TC Energy	$101B	9.2x	12.8x
Kinder Morgan	$93.3B	5.5x	11.2x
Marathon Petroleum	$84.4B	0.6x	7.4x
MPLX	$80.1B	6.2x	11.4x
Canadian Natural Resources	$79.7B	2.8x	6.2x
ONEOK	$79.2B	2.3x	9.8x
SLB	$77.8B	2.2x	9.2x
Eni	$77.0B	0.8x	4.0x
Phillips 66	$75.4B	0.6x	9.4x
Occidental Petroleum	$71.7B	2.7x	5.3x
Equinor	$69.7B	0.7x	1.8x
ADNOC Gas	$67.4B	3.4x	8.4x
Cheniere Energy	$65.8B	3.3x	9.6x
Suncor Energy	$64.3B	1.8x	5.8x
EOG Resources	$63.2B	2.8x	5.2x
Valero Energy	$61.2B	0.5x	8.6x
Diamondback Energy	$59.4B	4.2x	5.8x
Targa Resources	$56.0B	3.3x	11.5x
Baker Hughes	$51.7B	1.9x	10.9x
Venture Global	$50.7B	3.7x	8.0x
Imperial Oil	$49.4B	1.4x	9.1x
Ecopetrol	$48.8B	1.6x	4.1x
PTT	$47.6B	0.5x	3.9x
ONGC	$47.2B	0.7x	4.1x
Cheniere Energy Partners	$41.1B	3.9x	11.4x
EQT Corporation	$40.2B	4.8x	7.4x
Dian Swastatika Sentosa	$39.5B	n/a	n/a
Cenovus Energy	$39.2B	1.0x	5.5x
IndianOil	$39.1B	0.5x	6.8x
Woodside Energy	$38.2B	2.9x	4.3x
Orlen	$35.4B	0.5x	3.5x
Halliburton	$34.0B	1.6x	8.2x
SK Innovation	$33.6B	0.6x	13.8x
Pembina Pipeline	$32.9B	5.8x	10.6x
ENEOS Holdings	$31.3B	0.4x	7.6x
Yankuang Energy Gr	$31.1B	1.7x	6.0x
Devon Energy	$30.4B	1.8x	4.1x
Expand Energy	$29.0B	2.5x	5.9x
Repsol	$27.7B	0.4x	3.1x
Inpex	$26.5B	2.1x	3.0x
ADNOC Drilling Company	$24.3B	5.0x	11.1x
YPF	$24.2B	1.4x	4.8x
Western Midstream	$24.0B	6.2x	9.5x
Neste	$23.5B	1.1x	13.1x
Aker BP	$23.3B	2.2x	2.5x
Coterra Energy	$23.2B	3.1x	4.9x
Plains All American Pipeline	$21.9B	0.5x	7.6x
Texas Pacific	$21.7B	27.1x	31.6x
TechnipFMC	$20.9B	2.1x	11.5x
Bharat Petroleum	$20.8B	0.4x	5.7x
OMV	$20.4B	0.6x	2.7x
Santos	$18.3B	3.5x	5.4x
Tenaris	$18.0B	1.5x	6.3x
Tourmaline Oil	$17.9B	4.1x	7.0x
Sunoco	$17.7B	0.7x	8.5x
AltaGas	$16.9B	1.8x	12.6x
Idemitsu Kosan	$16.7B	0.3x	10.9x
Ovintiv	$16.4B	1.9x	3.9x
China Merchants Energy	$16.3B	4.2x	10.7x
Galp Energia	$15.8B	0.7x	4.4x
Quinenco	$15.7B	1603.6x	n/a
PTTEP	$15.4B	1.7x	2.4x
DT Midstream	$15.3B	12.2x	13.4x
HD Hyundai	$14.5B	0.3x	2.8x
Permian Resources	$14.2B	2.7x	3.6x
Vår Energi	$13.8B	n/a	n/a
Antero Resources	$13.6B	2.7x	8.2x
SBM Offshore	$13.3B	2.7x	8.2x
Cosan	$13.3B	0.5x	3.4x
APA	$13.2B	1.7x	2.6x
OMV Petrom	$13.0B	1.7x	6.6x
COSCO SHIPPING Energy	$12.9B	3.7x	8.7x
ARC Resources	$12.7B	3.0x	5.2x
Plains GP Holdings	$12.4B	0.3x	4.4x
Formosa Petrochemical	$12.4B	0.6x	15.5x
Whitecap Resources	$12.4B	3.0x	5.5x
Nakilat	$12.4B	11.9x	15.5x
Antero Midstream	$11.6B	9.6x	10.3x
Capital Power	$11.5B	4.6x	10.1x
S-Oil	$11.4B	0.5x	16.4x
HF Sinclair	$10.9B	0.4x	5.0x
Oil India	$10.9B	4.5x	10.2x
Jereh Group	$10.5B	4.5x	17.2x
National Fuel Gas	$10.4B	4.4x	7.1x
Transocean	$10.1B	2.6x	7.5x
Romgaz	$9.9B	5.3x	9.4x
PRIO	$9.8B	3.9x	6.7x
China Oilfield Services	$9.8B	1.3x	5.7x
Comstock Resources	$9.7B	5.1x	9.1x
Keyera	$9.7B	1.9x	11.9x
Range Resources	$9.4B	3.1x	6.6x
MOL Group	$9.1B	0.4x	2.7x
Viper Energy	$8.9B	6.3x	6.9x
Frontline	$8.8B	7.1x	9.3x
Sinopec Oilfield Service	$8.8B	0.7x	n/a
CMB.Tech	$8.7B	6.3x	11.4x
Matador Resources	$8.6B	2.4x	3.7x
Royal Vopak	$8.5B	4.9x	7.5x
Ades Holding	$8.3B	4.7x	9.0x
Hess Midstream	$8.3B	5.1x	6.6x
NewMed Energy	$8.3B	9.6x	12.1x
Shaanxi Energy Investment	$8.2B	2.8x	6.2x
Harbour Energy	$8.0B	0.8x	1.2x
CNX Resources	$8.0B	4.0x	6.6x
Tüpraş	$8.0B	0.4x	5.3x
NextDecade	$7.9B	n/a	-41.2x
Delek Group	$7.8B	n/a	n/a
Centrica	$7.7B	0.2x	4.6x
Vista Energy	$7.6B	3.2x	4.6x
NOV Inc.	$7.6B	0.9x	7.6x
Guangzhou Development Group	$7.6B	1.1x	8.1x
Icahn Enterprises	$7.6B	0.8x	n/a
Cosmo Energy Holdings	$7.4B	0.4x	5.8x
PetroVietnam Gas	$7.4B	1.6x	10.7x
Civitas Resources	$7.3B	1.6x	2.3x
Archrock	$7.1B	4.8x	8.5x
Ampol	$7.1B	0.3x	7.4x
Weatherford	$7.1B	1.5x	6.7x
Seatrium	$7.0B	0.9x	10.3x
Banpu	$7.0B	1.3x	6.0x
Grupo Ultra	$6.9B	0.3x	5.7x
Subsea 7	$6.9B	1.0x	4.8x
Gaztransport & Technigaz	$6.8B	7.2x	10.8x
Guanghui Energy	$6.8B	1.5x	9.8x
Kinetik Holdings	$6.6B	3.9x	6.7x
Saipem	$6.6B	0.4x	3.4x
Murphy Oil	$6.5B	2.4x	4.4x
PBF Energy	$6.5B	0.2x	89.6x
INA-Industrija Nafte	$6.4B	n/a	n/a
Chord Energy	$6.3B	1.3x	2.7x
HELLENiQ ENERGY	$6.3B	0.5x	5.2x
DCC	$6.2B	0.3x	5.4x
Thaioil	$6.1B	0.5x	8.3x
Crescent Energy	$6.1B	1.7x	3.0x
Motor Oil (Hellas)	$5.9B	0.4x	4.5x
Viva Energy Australia	$5.9B	0.3x	12.5x
Rubis	$5.8B	0.8x	6.8x
Kodiak Gas Services	$5.8B	4.4x	8.2x
USA Compression	$5.7B	5.7x	9.3x
Yinson	$5.6B	4.7x	8.4x
Worley	$5.5B	0.7x	8.0x
Modec	$5.5B	1.4x	11.8x
Energean	$5.4B	3.1x	5.1x
MedcoEnergi	$5.4B	2.4x	4.5x
Golar LNG	$5.3B	13.5x	21.0x
Whitehaven Coal	$5.1B	1.4x	6.5x
Warrior Met Coal	$5.1B	4.0x	21.6x
Genesis Energy	$5.1B	3.3x	9.5x
Helmerich & Payne	$5.1B	1.3x	5.5x
Kunlun Energy	$5.1B	0.2x	2.2x
California Resources	$5.0B	1.5x	4.0x
Navitas Petroleum	$4.9B	n/a	n/a
CNOOC Energy Technology	$4.9B	0.6x	4.8x
Gibson Energy	$4.9B	0.6x	11.5x
Delek Logistics	$4.9B	4.7x	9.7x
Ithaca Energy	$4.7B	1.6x	2.2x
PTT Oil and Retail	$4.7B	0.2x	7.3x
PrairieSky Royalty	$4.7B	13.4x	14.5x
Bangchak Corporation	$4.7B	0.3x	4.1x
SM Energy	$4.6B	1.4x	2.0x
Jiangxi Jovo Energy Co	$4.6B	1.4x	14.0x
Luberef	$4.6B	2.1x	14.9x
Transportadora de Gas del Sur	$4.6B	3.8x	7.3x
Northern Oil & Gas	$4.5B	1.9x	2.8x
Delek US Holdings	$4.4B	0.4x	3.8x
Magnolia Oil & Gas	$4.3B	3.2x	4.7x
Valaris	$4.2B	1.8x	6.9x
Strathcona Resources	$4.2B	1.5x	3.2x
Brava Energia	$4.1B	1.9x	4.4x
Peyto	$4.1B	4.6x	5.7x
Gulfport Energy	$4.1B	3.0x	4.6x
Baytex Energy	$4.0B	1.7x	3.1x
MyMesra	$4.0B	0.4x	8.2x
Calumet	$3.9B	1.0x	13.0x
Mangalore Refinery	$3.9B	0.4x	9.3x
Liberty Energy	$3.9B	1.0x	6.9x
Patterson-UTI	$3.8B	0.8x	4.3x
Woqod	$3.7B	0.5x	15.9x
Diversified Energy	$3.7B	2.3x	4.1x
Petronet LNG	$3.7B	0.7x	6.1x
Equital	$3.7B	n/a	n/a
Yancoal Australia	$3.6B	0.9x	3.3x
Global Partners	$3.5B	0.2x	9.3x
Technip Energies	$3.5B	0.4x	4.6x
OGDC	$3.5B	2.5x	n/a
Kosmos Energy	$3.5B	2.6x	6.0x
Alliance Res Partners	$3.5B	1.6x	5.1x
CVR Energy	$3.5B	0.5x	8.6x
SK Gas	$3.4B	0.6x	6.4x
TerraVest Industries	$3.4B	3.2x	16.9x
Tamarack Valley Energy	$3.4B	2.9x	5.0x
Topaz Energy	$3.4B	13.8x	14.0x
Scorpio Tankers	$3.3B	3.7x	6.4x
Arabian Drilling	$3.2B	3.5x	9.5x
Cactus	$3.2B	3.0x	9.3x
International Seaways	$3.1B	3.9x	6.9x
Par Pacific Holdings	$3.1B	0.4x	6.9x
Black Stone Minerals	$3.1B	7.1x	9.5x
Oceaneering	$3.1B	1.1x	7.7x
Tidewater	$3.1B	2.3x	5.2x
Aegis Vopak Terminals	$3.1B	33.3x	43.8x
Mach Natural Resources	$3.0B	2.6x	4.9x
TORM	$3.0B	3.3x	5.4x
BKV Corporation	$2.9B	3.2x	8.6x
AKSA Enerji	$2.9B	3.0x	10.4x
Talos Energy	$2.9B	1.6x	2.4x
Aegis Logistics	$2.8B	3.2x	19.9x
NuVista Energy	$2.8B	3.0x	5.4x
Petrol Group	$2.7B	0.4x	7.0x
Odfjell Drilling	$2.7B	3.0x	6.0x
Alpha Metallurgical	$2.6B	1.2x	19.1x
TGS	$2.6B	1.7x	2.9x
International Petroleum	$2.5B	3.8x	10.8x
Tullow Oil	$2.4B	2.7x	3.9x
DNO	$2.4B	1.5x	2.5x
Tsakos Energy Navigation	$2.4B	3.7x	6.1x
DHT Holdings	$2.4B	6.3x	8.1x
Genesis Energy New Zealand	$2.4B	1.1x	8.6x
Athabasca Oil Corporation	$2.3B	2.7x	6.0x
Sable Offshore	$2.3B	33.2x	-8.0x
Shanghai Petrochemical	$2.3B	0.2x	10.4x
Vermilion Energy	$2.2B	1.5x	3.1x
Ratio Energies	$2.2B	n/a	n/a
Isramco Negev 2	$2.2B	n/a	n/a
New Hope Corp	$2.2B	1.8x	4.9x
BlueNord	$2.1B	2.2x	4.0x
National Energy Services	$2.1B	1.6x	7.5x
Stanmore Resources	$2.1B	1.1x	5.9x
Exxaro Resources	$2.0B	0.8x	3.3x
BW Offshore	$2.0B	4.2x	8.3x
Beach Energy	$2.0B	1.5x	2.8x
CIMC Enric	$2.0B	0.5x	6.5x
Viridien	$2.0B	1.7x	3.8x
Navigator Gas	$2.0B	3.6x	7.0x
ProFrac	$2.0B	1.0x	6.7x
Excelerate Energy	$2.0B	1.7x	4.5x
Paramount Resources	$1.9B	3.8x	2.3x
LandBridge	$1.9B	9.7x	10.9x
Atlas Energy Solutions	$1.9B	1.7x	8.8x
Advantage Energy	$1.9B	3.6x	6.3x
Petrolimex	$1.9B	0.2x	9.8x
Birchcliff Energy	$1.9B	3.6x	6.1x
World Kinect	$1.9B	0.0x	5.3x
Wood	$1.8B	0.4x	5.3x
National Gas	$1.8B	n/a	n/a
Expro	$1.7B	1.1x	4.9x
Dana Gas	$1.7B	5.8x	7.8x
Oil Refineries	$1.7B	n/a	n/a
Fugro	$1.7B	0.8x	5.5x
Dorian LPG	$1.7B	4.0x	6.8x
Binh Son Refining	$1.7B	0.3x	8.7x
Organizacion Terpel	$1.7B	n/a	n/a
CrossAmerica Partners	$1.6B	0.5x	11.9x
Bukit Asam	$1.6B	0.7x	7.5x
HighPeak Energy	$1.6B	1.9x	2.5x
Innovex International	$1.6B	1.7x	9.1x
Headwater Exploration	$1.6B	3.8x	6.0x
Fluxys Belgium	$1.6B	2.2x	4.5x
Afriquia Gaz	$1.6B	1.6x	9.5x
Nanjing Tanker	$1.6B	1.9x	5.2x
Kimbell Royalty Partners	$1.6B	4.8x	5.8x
Tamar Petroleum	$1.6B	n/a	n/a
Tetra Technologies	$1.5B	2.5x	13.8x
Select Water	$1.5B	1.1x	6.1x
Natural Resources	$1.5B	n/a	n/a
Aker Solutions	$1.5B	0.2x	3.0x
COOEC	$1.5B	0.3x	2.6x
NIS	$1.4B	n/a	n/a
Teekay Tankers	$1.3B	2.1x	4.7x
Helix Energy Solutions	$1.3B	1.1x	5.2x
SunCoke Energy	$1.3B	0.7x	5.9x
RPC Inc.	$1.2B	0.8x	5.1x
Maurel & Prom	$1.2B	2.0x	4.2x
Ramaco Resources	$1.2B	2.2x	33.4x
Dorchester Minerals	$1.1B	n/a	n/a
EnQuest	$1.1B	1.0x	2.0x
Serica Energy	$1.0B	1.6x	3.1x
Empresas Lipigas	$1.0B	n/a	n/a
Capex	$1.0B	n/a	n/a
Core Laboratories	$1.0B	2.0x	14.0x
Karoon Energy	$980M	1.5x	2.5x
Hallador Energy	$944M	2.0x	17.2x
Indus Gas	$892M	n/a	n/a
Vitesse Energy	$876M	3.0x	4.7x
Granite Ridge Resources	$869M	1.9x	2.6x
TXO Partners	$861M	2.2x	5.9x
JANAF	$817M	n/a	n/a
Rompetrol Rafinare	$785M	n/a	n/a
Greenfire Resources	$774M	n/a	n/a
GeoPark	$760M	1.6x	2.6x
Archer	$719M	0.5x	4.8x
2G Energy	$701M	1.5x	17.5x
SBO	$699M	1.2x	8.1x
Star Group	$664M	n/a	n/a
Clean Energy Fuels	$634M	1.5x	9.6x
Martin Midstream Partners	$627M	n/a	6.2x
Sea1 Offshore	$582M	2.2x	4.0x
Rockhopper Exploration	$581M	n/a	-150.8x
American Resources	$569M	1060.6x	-35.4x
Tamboran Resources	$560M	69.0x	-29.7x
Oil States International	$542M	0.8x	6.6x
VAALCO Energy	$530M	1.5x	3.2x
Nostrum Oil & Gas	$529M	4.4x	n/a
W&T Offshore	$506M	1.0x	3.7x
KN Energies	$506M	n/a	n/a
SandRidge Energy	$433M	2.7x	4.2x
Deutsche Rohstoff	$432M	1.9x	2.9x
Gulf Keystone Petroleum	$410M	2.5x	4.9x
Sinopec Kantons Holdings	$400M	n/a	n/a
Kistos Holdings	$384M	1.6x	2.9x
NACCO Industries	$374M	n/a	n/a
Dynagas LNG Partners	$357M	n/a	n/a
Gas Plus	$355M	n/a	n/a
KLX Energy Services Hldgs	$345M	0.5x	4.7x
Petrolina (Hldgs)	$340M	n/a	n/a
Reach Subsea	$337M	n/a	n/a
Prosafe	$337M	2.0x	9.1x
Amplify Energy	$323M	1.1x	4.2x
Jadestone Energy	$294M	0.7x	2.0x
PrimeEnergy Resources	$292M	1.6x	2.8x
Infinity Natural Resources	$291M	0.8x	1.2x
Deep Value Driller	$291M	5.2x	5.6x
Akastor	$290M	7.5x	41.6x
La Francaise de l'Energie	$282M	7.0x	12.0x
HMS Bergbau	$269M	0.2x	10.2x
Geospace Technologies	$268M	n/a	n/a
Bumech	$228M	n/a	n/a
Horizon Oil	$216M	2.0x	n/a
Makpetrol	$206M	n/a	n/a
Awilco LNG	$205M	n/a	n/a
A.b.p. Nocivelli	$195M	1.7x	9.5x
Smart Sand	$190M	n/a	n/a
Capricorn Energy	$187M	1.5x	2.3x
Drilling Tools Intl	$185M	1.2x	5.0x
Petrol	$177M	n/a	n/a
Kolibri Global Energy	$170M	2.9x	3.8x
XCF Global	$168M	n/a	n/a
Pantheon Resources	$163M	n/a	-12.8x
Afentra	$150M	1.2x	2.0x
Okea	$147M	0.2x	0.3x
Eidesvik Offshore	$145M	n/a	n/a
NorAm Drilling	$135M	1.4x	6.3x
Daldrup & Söhne	$130M	2.3x	14.3x
Maha Capital	$128M	n/a	n/a
Conpet	$126M	n/a	n/a
Oil Terminal	$126M	n/a	n/a
Omega Oil & Gas	$121M	226.5x	-34.4x
Epsilon Energy	$111M	n/a	n/a
TMD Energy	$105M	n/a	n/a
Energy World Corp	$97.4M	n/a	n/a
Dolphin Drilling	$95.9M	n/a	n/a
NCS Multistage Holdings	$86.6M	0.5x	3.7x
Docks Petroles d Ambes	$86.4M	n/a	n/a
OMS Energy Technologies	$85.5M	0.4x	1.5x
Bathurst Resources	$82.2M	4.3x	-99.4x
Australian Pacific Coal	$79.5M	n/a	n/a
Stabilis Solutions	$79.4M	1.1x	9.2x
AleAnna	$73.1M	n/a	n/a
Pyxis Tankers	$68.1M	1.9x	4.9x
Robit	$46.1M	0.5x	6.9x
InterOil Exploration	$44.0M	n/a	n/a
Imperial Ptrl	$41.3M	0.3x	0.7x
Recon Technology	$37.4M	3.8x	-4.1x
Uni-Fuels	$35.3M	0.2x	35.9x
Toplivo	$32.8M	n/a	n/a
Onico	$32.2M	n/a	n/a
Rompetrol Well Servs	$30.5M	n/a	n/a
Robin Energy	$27.9M	n/a	n/a
Hunter Group	$21.4M	n/a	n/a
ElectroMagnetic	$18.9M	n/a	n/a
Ecoslops	$17.1M	n/a	n/a
Delixy Holdings	$15.8M	n/a	n/a
Atlantic Petroleum	$12.5M	n/a	n/a
Acceleware	$9.9M	n/a	n/a
PTL Limited	$8.6M	n/a	n/a
Petrolia	$7.9M	n/a	n/a
Igrene	$3.0M	n/a	n/a
Clean & Carbon Energy	$2.8M	n/a	n/a
Condmag	$1.1M	n/a	n/a
Mammoth Energy Services	-$0.6M	n/a	n/a
Oil and Gas Explr and Pro	-$4.1M	n/a	n/a
S.D. Standard ETC	-$18.1M	n/a	n/a
Teekay	-$41.9M	n/a	n/a
LW Bogdanka	-$44.0M	-0.1x	-0.3x