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	$1.55T	3.5x	6.9x
Exxon Mobil	$557B	1.7x	8.0x
Chevron	$361B	1.9x	8.7x
PetroChina	$270B	0.7x	4.1x
Shell	$252B	0.9x	4.4x
Reliance Industries	$240B	2.2x	11.9x
Enbridge	$181B	4.1x	12.5x
TotalEnergies	$175B	0.9x	4.6x
China Petroleum	$152B	0.4x	5.6x
China Petroleum	$152B	0.4x	5.6x
ConocoPhillips	$140B	2.3x	5.5x
Petrobras	$134B	1.5x	3.2x
BP	$130B	0.7x	3.5x
Energy Transfer	$117B	1.4x	7.3x
CNOOC	$106B	1.8x	2.9x
Enterprise Products	$103B	2.0x	10.5x
TC Energy	$103B	9.3x	12.9x
Williams Companies	$103B	9.0x	13.3x
China Shenhua Energy	$102B	2.3x	6.9x
Kinder Morgan	$94.5B	5.6x	11.3x
Marathon Petroleum	$84.1B	0.6x	7.4x
Canadian Natural Resources	$79.4B	2.8x	6.1x
Eni	$79.1B	0.8x	4.1x
ONEOK	$78.9B	2.3x	9.8x
MPLX	$78.6B	6.0x	11.2x
Phillips 66	$76.3B	0.6x	9.5x
SLB	$74.6B	2.1x	8.8x
Occidental Petroleum	$69.6B	2.7x	5.1x
ADNOC Gas	$69.1B	3.5x	8.6x
Equinor	$68.2B	0.7x	1.8x
Cheniere Energy	$66.9B	3.4x	9.7x
EOG Resources	$62.2B	2.7x	5.1x
Suncor Energy	$62.1B	1.7x	5.5x
Valero Energy	$60.9B	0.5x	8.5x
Diamondback Energy	$58.2B	4.2x	5.7x
Targa Resources	$56.7B	3.3x	11.6x
Baker Hughes	$51.8B	1.9x	10.9x
Ecopetrol	$49.0B	1.6x	4.1x
Venture Global	$48.1B	3.5x	7.6x
PTT	$47.6B	0.5x	3.9x
ONGC	$46.7B	0.7x	4.1x
Imperial Oil	$45.1B	1.3x	8.2x
EQT Corporation	$41.3B	4.9x	7.6x
Cheniere Energy Partners	$40.9B	3.8x	11.3x
IndianOil	$40.0B	0.5x	7.0x
Woodside Energy	$38.5B	3.0x	4.3x
Cenovus Energy	$37.3B	1.0x	5.2x
Dian Swastatika Sentosa	$36.1B	n/a	n/a
Orlen	$36.0B	0.5x	3.6x
SK Innovation	$33.7B	0.6x	13.9x
Halliburton	$33.4B	1.5x	8.1x
Pembina Pipeline	$33.0B	6.0x	10.6x
ENEOS Holdings	$30.8B	0.4x	7.5x
Devon Energy	$30.2B	1.8x	4.1x
Yankuang Energy Gr	$30.2B	1.7x	5.8x
Expand Energy	$29.9B	2.6x	6.0x
Repsol	$28.4B	0.4x	3.2x
Inpex	$26.8B	2.1x	3.0x
YPF	$25.0B	1.4x	5.0x
ADNOC Drilling Company	$25.0B	5.2x	11.4x
Coterra Energy	$23.7B	3.1x	5.0x
Neste	$23.5B	1.1x	13.0x
Western Midstream	$23.1B	6.0x	9.2x
Aker BP	$22.6B	2.1x	2.4x
Bharat Petroleum	$21.5B	0.4x	5.9x
Plains All American Pipeline	$21.4B	0.4x	7.5x
OMV	$20.1B	0.6x	2.6x
Texas Pacific	$20.0B	25.0x	29.2x
TechnipFMC	$20.0B	2.0x	11.0x
Santos	$18.2B	3.5x	5.4x
Tourmaline Oil	$18.2B	4.1x	7.0x
Tenaris	$17.9B	1.5x	6.2x
AltaGas	$17.3B	1.8x	12.8x
Sunoco	$16.9B	0.7x	8.1x
Idemitsu Kosan	$16.6B	0.3x	10.8x
Ovintiv	$16.2B	1.8x	3.9x
DT Midstream	$15.5B	12.4x	13.6x
PTTEP	$15.4B	1.7x	2.4x
Quinenco	$15.2B	1563.4x	n/a
Galp Energia	$15.0B	0.6x	4.2x
China Merchants Energy	$13.9B	3.6x	9.2x
Permian Resources	$13.9B	2.6x	3.6x
Vår Energi	$13.8B	n/a	n/a
Antero Resources	$13.7B	2.7x	8.3x
ARC Resources	$13.3B	3.1x	5.4x
Cosan	$13.3B	0.5x	3.4x
SBM Offshore	$13.2B	2.6x	8.0x
HD Hyundai	$12.9B	0.3x	2.5x
OMV Petrom	$12.9B	1.7x	6.6x
APA	$12.8B	1.6x	2.5x
Whitecap Resources	$12.5B	3.0x	5.5x
Plains GP Holdings	$12.3B	0.3x	4.3x
Formosa Petrochemical	$12.3B	0.6x	15.4x
Nakilat	$12.1B	11.7x	15.2x
Antero Midstream	$11.5B	9.6x	10.3x
COSCO SHIPPING Energy	$11.5B	3.3x	7.8x
Capital Power	$11.5B	4.5x	10.0x
S-Oil	$11.2B	0.5x	16.1x
HF Sinclair	$10.9B	0.4x	5.0x
National Fuel Gas	$10.6B	4.5x	7.2x
Oil India	$10.4B	4.4x	9.8x
Transocean	$10.1B	2.6x	7.5x
Keyera	$10.1B	2.0x	12.3x
Jereh Group	$10.0B	4.3x	16.4x
Comstock Resources	$9.8B	5.1x	9.1x
Range Resources	$9.6B	3.2x	6.8x
PRIO	$9.5B	3.8x	6.5x
China Oilfield Services	$9.3B	1.3x	5.4x
Romgaz	$9.1B	4.9x	8.7x
Viper Energy	$8.8B	6.3x	6.8x
MOL Group	$8.5B	0.3x	2.5x
Matador Resources	$8.5B	2.3x	3.6x
Sinopec Oilfield Service	$8.5B	0.7x	n/a
Royal Vopak	$8.4B	4.9x	7.5x
CMB.Tech	$8.3B	6.0x	10.8x
Ades Holding	$8.3B	4.7x	8.9x
NewMed Energy	$8.3B	9.6x	12.0x
Hess Midstream	$8.2B	5.0x	6.5x
Shaanxi Energy Investment	$8.1B	2.7x	6.1x
Harbour Energy	$8.1B	0.8x	1.2x
Delek Group	$8.0B	n/a	n/a
CNX Resources	$8.0B	3.9x	6.6x
NextDecade	$8.0B	n/a	-41.3x
Frontline	$7.7B	6.2x	8.1x
Tüpraş	$7.6B	0.4x	5.1x
Vista Energy	$7.6B	3.1x	4.5x
Guangzhou Development Group	$7.6B	1.1x	8.0x
Icahn Enterprises	$7.5B	0.8x	n/a
NOV Inc.	$7.5B	0.9x	7.5x
Cosmo Energy Holdings	$7.4B	0.4x	5.7x
Civitas Resources	$7.4B	1.6x	2.3x
Centrica	$7.2B	0.2x	4.3x
Archrock	$7.2B	4.8x	8.6x
Ampol	$7.2B	0.3x	7.5x
Weatherford	$7.1B	1.5x	6.8x
Banpu	$6.9B	1.3x	6.0x
Subsea 7	$6.9B	1.0x	4.8x
Grupo Ultra	$6.8B	0.3x	5.7x
Guanghui Energy	$6.8B	1.5x	9.7x
Seatrium	$6.7B	0.9x	9.9x
Saipem	$6.6B	0.4x	3.4x
Kinetik Holdings	$6.5B	3.9x	6.6x
INA-Industrija Nafte	$6.5B	n/a	n/a
Gaztransport & Technigaz	$6.4B	6.8x	10.1x
HELLENiQ ENERGY	$6.3B	0.5x	5.2x
DCC	$6.3B	0.3x	5.4x
Murphy Oil	$6.2B	2.3x	4.2x
Chord Energy	$6.2B	1.3x	2.6x
Motor Oil (Hellas)	$6.2B	0.5x	4.7x
Thaioil	$6.1B	0.5x	8.3x
PBF Energy	$6.1B	0.2x	84.2x
Crescent Energy	$6.0B	1.7x	3.0x
Viva Energy Australia	$6.0B	0.3x	12.8x
Rubis	$5.8B	0.7x	6.7x
Kodiak Gas Services	$5.8B	4.4x	8.1x
Yinson	$5.6B	4.6x	8.3x
PetroVietnam Gas	$5.6B	1.2x	8.1x
Worley	$5.5B	0.7x	8.1x
USA Compression	$5.5B	5.5x	9.0x
MedcoEnergi	$5.4B	2.4x	4.5x
Energean	$5.3B	3.1x	5.0x
Kunlun Energy	$5.2B	0.2x	2.3x
Golar LNG	$5.2B	13.2x	20.6x
Navitas Petroleum	$5.1B	n/a	n/a
Helmerich & Payne	$5.1B	1.3x	5.5x
Genesis Energy	$5.0B	3.2x	9.3x
California Resources	$5.0B	1.5x	4.0x
Gibson Energy	$4.9B	0.6x	11.5x
CNOOC Energy Technology	$4.9B	0.6x	4.8x
Modec	$4.9B	1.2x	10.6x
Whitehaven Coal	$4.9B	1.3x	6.2x
Delek Logistics	$4.9B	4.7x	9.6x
Transportadora de Gas del Sur	$4.8B	4.0x	7.7x
SM Energy	$4.7B	1.4x	2.1x
Bangchak Corporation	$4.7B	0.3x	4.1x
Ithaca Energy	$4.6B	1.5x	2.2x
PrairieSky Royalty	$4.6B	13.0x	14.1x
Warrior Met Coal	$4.6B	3.5x	19.3x
PTT Oil and Retail	$4.5B	0.2x	6.9x
Delek US Holdings	$4.4B	0.4x	3.8x
Luberef	$4.4B	2.0x	14.4x
Strathcona Resources	$4.4B	1.6x	3.3x
Northern Oil & Gas	$4.4B	1.9x	2.7x
Gulfport Energy	$4.3B	3.1x	4.9x
Jiangxi Jovo Energy Co	$4.2B	1.3x	12.8x
Magnolia Oil & Gas	$4.1B	3.1x	4.5x
Valaris	$4.1B	1.8x	6.8x
Peyto	$4.1B	4.6x	5.6x
Mangalore Refinery	$4.0B	0.4x	9.5x
Brava Energia	$4.0B	1.8x	4.2x
Baytex Energy	$3.9B	1.7x	3.0x
MyMesra	$3.9B	0.4x	8.0x
Calumet	$3.9B	0.9x	12.9x
Diversified Energy	$3.8B	2.3x	4.3x
Petronet LNG	$3.8B	0.7x	6.4x
CVR Energy	$3.8B	0.5x	9.3x
Equital	$3.7B	n/a	n/a
Woqod	$3.7B	0.5x	15.6x
Patterson-UTI	$3.7B	0.8x	4.2x
Liberty Energy	$3.7B	1.0x	6.4x
Global Partners	$3.5B	0.2x	9.2x
OGDC	$3.5B	2.5x	n/a
Technip Energies	$3.5B	0.4x	4.6x
SK Gas	$3.4B	0.6x	6.4x
Kosmos Energy	$3.4B	2.5x	5.8x
Yancoal Australia	$3.4B	0.9x	3.1x
Alliance Res Partners	$3.4B	1.5x	4.9x
Topaz Energy	$3.4B	13.6x	13.8x
TerraVest Industries	$3.3B	3.1x	16.2x
Tamarack Valley Energy	$3.3B	2.8x	4.8x
Aegis Vopak Terminals	$3.2B	34.5x	45.4x
Arabian Drilling	$3.1B	3.4x	9.3x
Par Pacific Holdings	$3.1B	0.4x	6.9x
Cactus	$3.0B	2.8x	8.8x
Oceaneering	$3.0B	1.1x	7.5x
Mach Natural Resources	$3.0B	2.7x	5.0x
BKV Corporation	$3.0B	3.2x	8.8x
Black Stone Minerals	$2.9B	6.8x	9.0x
AKSA Enerji	$2.9B	3.0x	10.4x
Aegis Logistics	$2.8B	3.3x	20.5x
Tidewater	$2.8B	2.1x	4.8x
Scorpio Tankers	$2.8B	3.1x	5.3x
TORM	$2.7B	3.0x	5.0x
NuVista Energy	$2.7B	3.0x	5.3x
Talos Energy	$2.7B	1.5x	2.2x
International Seaways	$2.7B	3.4x	5.9x
Odfjell Drilling	$2.7B	3.0x	6.0x
Petrol Group	$2.6B	0.4x	6.7x
TGS	$2.5B	1.6x	2.8x
Tullow Oil	$2.4B	2.7x	3.9x
International Petroleum	$2.4B	3.6x	10.2x
DNO	$2.4B	1.5x	2.5x
Sable Offshore	$2.4B	34.2x	-8.2x
Genesis Energy New Zealand	$2.3B	1.1x	8.5x
Tsakos Energy Navigation	$2.3B	3.5x	5.8x
Shanghai Petrochemical	$2.3B	0.2x	10.1x
Ratio Energies	$2.3B	n/a	n/a
Athabasca Oil Corporation	$2.2B	2.5x	5.7x
Isramco Negev 2	$2.2B	n/a	n/a
Vermilion Energy	$2.2B	1.5x	3.0x
Alpha Metallurgical	$2.1B	1.0x	15.5x
BlueNord	$2.1B	2.1x	3.8x
New Hope Corp	$2.1B	1.8x	4.7x
DHT Holdings	$2.1B	5.5x	7.1x
BW Offshore	$2.0B	4.2x	8.3x
Stanmore Resources	$2.0B	1.1x	5.9x
Beach Energy	$2.0B	1.5x	2.8x
Exxaro Resources	$2.0B	0.8x	3.1x
Paramount Resources	$1.9B	3.8x	2.3x
Advantage Energy	$1.9B	3.7x	6.4x
National Energy Services	$1.9B	1.5x	6.9x
Navigator Gas	$1.9B	3.5x	6.7x
ProFrac	$1.9B	1.0x	6.5x
Birchcliff Energy	$1.9B	3.6x	6.2x
Viridien	$1.9B	1.6x	3.6x
Excelerate Energy	$1.9B	1.6x	4.3x
CIMC Enric	$1.9B	0.5x	6.1x
Wood	$1.8B	0.4x	5.2x
Atlas Energy Solutions	$1.8B	1.6x	8.3x
World Kinect	$1.7B	0.0x	5.0x
National Gas	$1.7B	n/a	n/a
Oil Refineries	$1.7B	n/a	n/a
Dana Gas	$1.7B	5.7x	7.7x
Fugro	$1.7B	0.8x	5.5x
Organizacion Terpel	$1.7B	n/a	n/a
Tamar Petroleum	$1.6B	n/a	n/a
LandBridge	$1.6B	8.4x	9.5x
CrossAmerica Partners	$1.6B	0.5x	11.8x
Expro	$1.6B	1.0x	4.5x
Fluxys Belgium	$1.6B	2.2x	4.5x
Bukit Asam	$1.6B	0.7x	7.3x
HighPeak Energy	$1.6B	1.8x	2.5x
Afriquia Gaz	$1.6B	1.5x	9.2x
Innovex International	$1.6B	1.7x	8.8x
Petrolimex	$1.6B	0.2x	8.3x
Select Water	$1.5B	1.1x	6.0x
Nanjing Tanker	$1.5B	1.8x	4.9x
Kimbell Royalty Partners	$1.5B	4.6x	5.6x
Dorian LPG	$1.5B	3.6x	6.1x
Tetra Technologies	$1.5B	2.4x	13.4x
Aker Solutions	$1.5B	0.2x	2.9x
Headwater Exploration	$1.5B	3.4x	5.5x
NIS	$1.4B	n/a	n/a
Natural Resources	$1.4B	n/a	n/a
COOEC	$1.3B	0.3x	2.2x
Helix Energy Solutions	$1.3B	1.0x	5.0x
SunCoke Energy	$1.3B	0.7x	5.7x
Maurel & Prom	$1.3B	2.1x	4.4x
Binh Son Refining	$1.3B	0.2x	6.7x
RPC Inc.	$1.2B	0.7x	4.8x
Ramaco Resources	$1.2B	2.1x	32.5x
Capex	$1.1B	n/a	n/a
Dorchester Minerals	$1.1B	n/a	n/a
EnQuest	$1.1B	1.0x	2.0x
Teekay Tankers	$1.0B	1.6x	3.6x
Empresas Lipigas	$1.0B	n/a	n/a
Serica Energy	$994M	1.5x	3.0x
Core Laboratories	$986M	1.9x	13.4x
Karoon Energy	$962M	1.5x	2.5x
Indus Gas	$895M	n/a	n/a
Hallador Energy	$890M	1.9x	16.3x
Vitesse Energy	$867M	3.0x	4.6x
Granite Ridge Resources	$865M	1.9x	2.6x
TXO Partners	$847M	2.2x	5.8x
JANAF	$796M	n/a	n/a
Rompetrol Rafinare	$788M	n/a	n/a
2G Energy	$765M	1.7x	19.0x
Greenfire Resources	$741M	n/a	n/a
GeoPark	$740M	1.5x	2.5x
Archer	$715M	0.5x	4.7x
SBO	$670M	1.2x	7.7x
Star Group	$655M	n/a	n/a
Clean Energy Fuels	$630M	1.5x	9.5x
Rockhopper Exploration	$626M	n/a	-161.6x
Martin Midstream Partners	$615M	n/a	6.1x
Sea1 Offshore	$565M	2.1x	3.9x
American Resources	$562M	1047.2x	-35.0x
Tamboran Resources	$548M	67.5x	-29.0x
Nostrum Oil & Gas	$529M	4.3x	n/a
VAALCO Energy	$500M	1.4x	3.1x
Oil States International	$500M	0.7x	6.1x
KN Energies	$494M	n/a	n/a
W&T Offshore	$461M	0.9x	3.4x
Deutsche Rohstoff	$439M	2.0x	2.9x
SandRidge Energy	$412M	2.6x	4.0x
Gulf Keystone Petroleum	$404M	2.5x	4.8x
NACCO Industries	$382M	n/a	n/a
Kistos Holdings	$380M	1.6x	2.8x
Sinopec Kantons Holdings	$371M	n/a	n/a
Gas Plus	$361M	n/a	n/a
Dynagas LNG Partners	$356M	n/a	n/a
KLX Energy Services Hldgs	$341M	0.5x	4.7x
Petrolina (Hldgs)	$340M	n/a	n/a
Reach Subsea	$339M	n/a	n/a
Prosafe	$337M	2.0x	9.1x
Amplify Energy	$310M	1.1x	4.0x
Infinity Natural Resources	$294M	0.8x	1.2x
Jadestone Energy	$290M	0.7x	2.0x
Akastor	$287M	7.3x	40.9x
Deep Value Driller	$287M	5.1x	5.5x
PrimeEnergy Resources	$279M	1.5x	2.6x
HMS Bergbau	$275M	0.2x	10.4x
La Francaise de l'Energie	$269M	6.6x	11.4x
Bumech	$220M	n/a	n/a
Geospace Technologies	$219M	n/a	n/a
Horizon Oil	$210M	1.9x	n/a
Makpetrol	$209M	n/a	n/a
Awilco LNG	$206M	n/a	n/a
A.b.p. Nocivelli	$201M	1.8x	9.7x
Smart Sand	$198M	n/a	n/a
XCF Global	$186M	n/a	n/a
Petrol	$180M	n/a	n/a
Kolibri Global Energy	$178M	3.0x	4.0x
Drilling Tools Intl	$174M	1.1x	4.7x
Capricorn Energy	$166M	1.3x	2.0x
Pantheon Resources	$166M	n/a	-13.0x
Afentra	$149M	1.2x	2.0x
Eidesvik Offshore	$142M	n/a	n/a
Okea	$136M	0.2x	0.3x
NorAm Drilling	$135M	1.4x	6.3x
Conpet	$129M	n/a	n/a
Oil Terminal	$127M	n/a	n/a
Omega Oil & Gas	$125M	235.4x	-35.8x
Daldrup & Söhne	$120M	2.1x	13.1x
Epsilon Energy	$111M	n/a	n/a
TMD Energy	$111M	n/a	n/a
Maha Capital	$110M	n/a	n/a
Dolphin Drilling	$101M	n/a	n/a
Energy World Corp	$97.2M	n/a	n/a
Bathurst Resources	$91.8M	4.8x	-111.2x
NCS Multistage Holdings	$89.5M	0.5x	3.8x
AleAnna	$86.9M	n/a	n/a
Docks Petroles d Ambes	$85.0M	n/a	n/a
Stabilis Solutions	$80.7M	1.1x	9.3x
Australian Pacific Coal	$79.4M	n/a	n/a
OMS Energy Technologies	$76.2M	0.4x	1.3x
Pyxis Tankers	$65.2M	1.8x	4.7x
Robit	$47.5M	0.5x	7.1x
InterOil Exploration	$44.1M	n/a	n/a
Uni-Fuels	$38.6M	0.2x	39.2x
Recon Technology	$37.7M	3.8x	-4.1x
Imperial Ptrl	$36.5M	0.2x	0.6x
Toplivo	$32.8M	n/a	n/a
Rompetrol Well Servs	$30.6M	n/a	n/a
Onico	$30.6M	n/a	n/a
Robin Energy	$28.2M	n/a	n/a
ElectroMagnetic	$19.0M	n/a	n/a
Ecoslops	$17.4M	n/a	n/a
Delixy Holdings	$15.8M	n/a	n/a
Hunter Group	$14.9M	n/a	n/a
Atlantic Petroleum	$12.6M	n/a	n/a
Acceleware	$9.5M	n/a	n/a
PTL Limited	$8.3M	n/a	n/a
Oil and Gas Explr and Pro	$7.0M	n/a	n/a
Petrolia	$7.0M	n/a	n/a
Igrene	$2.9M	n/a	n/a
Clean & Carbon Energy	$2.8M	n/a	n/a
Condmag	$1.1M	n/a	n/a
Mammoth Energy Services	-$13.4M	n/a	n/a
S.D. Standard ETC	-$18.5M	n/a	n/a
LW Bogdanka	-$54.4M	-0.1x	-0.3x
Teekay	-$133M	n/a	n/a