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	$1.64T	3.8x	7.3x
Exxon Mobil	$518B	1.5x	7.4x
Chevron	$294B	1.5x	6.9x
Shell	$255B	0.9x	4.1x
Reliance Industries	$251B	2.2x	12.4x
PetroChina	$224B	0.6x	3.4x
Enbridge	$177B	4.6x	12.4x
TotalEnergies	$170B	0.8x	4.0x
Petrobras	$139B	1.5x	3.3x
ConocoPhillips	$137B	2.3x	5.5x
China Petroleum	$136B	0.3x	4.9x
BP	$123B	0.6x	3.3x
Energy Transfer	$120B	1.4x	7.5x
Enterprise Products	$101B	1.7x	10.0x
Williams Companies	$98.4B	8.8x	13.2x
TC Energy	$95.5B	8.4x	11.8x
CNOOC	$95.4B	1.7x	2.7x
Kinder Morgan	$94.7B	5.9x	11.6x
Marathon Petroleum	$83.6B	0.6x	8.0x
ONEOK	$82.7B	3.3x	11.0x
China Shenhua Energy	$82.3B	1.8x	5.8x
Canadian Natural Resources	$80.3B	2.9x	6.4x
Occidental Petroleum	$77.2B	2.9x	5.6x
Cheniere Energy	$75.0B	4.1x	11.4x
Equinor	$73.7B	0.7x	1.7x
Eni	$73.4B	0.7x	3.7x
MPLX	$72.4B	5.8x	10.4x
Phillips 66	$71.0B	0.5x	10.7x
Venture Global	$69.5B	7.3x	15.9x
ADNOC Gas	$65.8B	3.5x	8.4x
EOG Resources	$65.6B	2.8x	5.3x
Schlumberger	$60.5B	1.7x	6.9x
Suncor Energy	$58.3B	1.6x	5.1x
Hess	$55.6B	4.5x	8.3x
Diamondback Energy	$54.3B	4.3x	6.2x
Valero Energy	$54.2B	0.4x	9.2x
Targa Resources	$53.3B	2.8x	11.9x
ONGC	$52.2B	0.7x	4.5x
PTT	$45.6B	0.5x	3.7x
Ecopetrol	$45.5B	1.4x	3.5x
Imperial Oil	$44.0B	1.1x	7.7x
Baker Hughes	$43.1B	1.6x	9.4x
EQT Corporation	$41.2B	5.9x	8.6x
Cheniere Energy Partners	$40.9B	4.0x	11.0x
IndianOil	$40.8B	0.4x	8.9x
SK Innovation	$38.5B	0.7x	15.6x
Woodside Energy	$37.3B	2.9x	4.1x
Cenovus Energy	$32.8B	0.8x	4.7x
Pembina Pipeline	$32.7B	5.9x	10.1x
Orlen	$31.0B	0.4x	3.4x
Expand Energy	$30.1B	3.8x	7.6x
Devon Energy	$29.5B	1.8x	3.9x
ADNOC Drilling Company	$27.1B	6.1x	12.9x
Halliburton	$26.6B	1.2x	5.8x
ENEOS Holdings	$25.8B	0.3x	6.5x
Repsol	$24.2B	0.4x	2.8x
Texas Pacific	$23.7B	31.2x	37.0x
Coterra Energy	$23.6B	3.6x	5.5x
Bharat Petroleum	$22.8B	0.4x	7.5x
Western Midstream	$21.9B	5.9x	9.2x
Plains All American Pipeline	$21.8B	0.4x	7.8x
YPF	$21.8B	1.3x	4.7x
Inpex	$21.7B	1.5x	2.4x
Santos	$21.1B	3.9x	5.8x
Dian Swastatika Sentosa	$20.8B	n/a	n/a
Aker BP	$20.7B	1.7x	1.9x
OMV	$19.1B	0.5x	2.3x
Tenaris	$17.7B	1.3x	5.7x
Ovintiv	$17.6B	2.1x	4.0x
Tourmaline Oil	$17.4B	3.6x	6.4x
Galp Energia	$17.0B	0.7x	4.9x
Neste	$16.7B	0.7x	11.3x
AltaGas	$16.4B	1.7x	12.3x
TechnipFMC	$15.6B	1.6x	10.0x
Sunoco	$15.3B	0.7x	8.9x
Idemitsu Kosan	$15.0B	0.2x	8.5x
Antero Resources	$15.0B	3.0x	9.5x
DT Midstream	$13.8B	12.4x	13.1x
ARC Resources	$13.4B	3.1x	5.4x
Permian Resources	$13.4B	2.6x	3.5x
Vår Energi	$13.3B	1.6x	2.0x
SBM Offshore	$12.9B	2.2x	7.1x
Nakilat	$12.9B	12.0x	14.7x
APA	$12.7B	1.5x	2.3x
PTTEP	$12.5B	1.4x	1.9x
Plains GP Holdings	$12.5B	0.2x	4.4x
HD Hyundai	$12.2B	0.2x	2.9x
Antero Midstream	$11.5B	10.1x	10.6x
Quinenco	$11.3B	1224.6x	n/a
Cosan	$11.3B	0.4x	2.7x
HF Sinclair	$11.1B	0.4x	8.5x
Oil India	$10.8B	4.2x	9.4x
Formosa Petrochemical	$10.7B	0.5x	16.8x
Range Resources	$10.6B	3.8x	7.8x
National Fuel Gas	$10.4B	4.4x	7.5x
COSCO SHIPPING Energy	$10.4B	3.1x	7.4x
Keyera	$10.0B	2.0x	11.0x
Matador Resources	$9.8B	2.7x	4.1x
Capital Power	$9.7B	3.7x	9.1x
Comstock Resources	$9.7B	5.9x	9.3x
China Merchants Energy	$9.7B	2.5x	6.6x
PRIO	$9.5B	3.6x	5.4x
Parkland	$9.5B	0.5x	7.4x
S-Oil	$9.5B	0.4x	10.8x
Whitecap Resources	$9.4B	2.6x	4.9x
Harbour Energy	$9.2B	1.1x	1.7x
MOL Group	$9.1B	0.4x	2.6x
Transocean	$8.9B	2.4x	7.3x
Royal Vopak	$8.9B	4.6x	7.4x
OMV Petrom	$8.8B	1.1x	4.4x
China Oilfield Services	$8.7B	1.2x	5.4x
Hess Midstream	$8.6B	5.4x	7.2x
Civitas Resources	$8.1B	1.6x	2.4x
DCC	$8.0B	0.3x	6.5x
Guanghui Energy	$7.7B	1.4x	8.0x
CNX Resources	$7.7B	5.1x	7.0x
Icahn Enterprises	$7.6B	0.9x	n/a
Shaanxi Energy Investment	$7.6B	2.4x	6.3x
Frontline	$7.5B	4.5x	7.3x
Vista Energy	$7.4B	3.5x	5.3x
NextDecade	$7.4B	n/a	-43.1x
Tüpraş	$7.3B	0.4x	6.1x
Chord Energy	$7.2B	1.5x	3.1x
Ades Holding	$7.2B	4.2x	8.4x
CMB.Tech	$7.2B	5.2x	10.2x
Strathcona Resources	$7.2B	2.1x	4.5x
Guangzhou Development Group	$7.1B	1.0x	n/a
Delek Group	$7.1B	2.0x	n/a
Gaztransport & Technigaz	$7.0B	8.4x	13.3x
Cosmo Energy Holdings	$7.0B	0.4x	5.4x
Sinopec Oilfield Service	$7.0B	0.6x	n/a
Saipem	$7.0B	0.4x	4.0x
NewMed Energy	$7.0B	7.4x	n/a
Ampol	$6.6B	0.3x	7.8x
INA-Industrija Nafte	$6.6B	n/a	n/a
Seatrium	$6.6B	0.9x	10.4x
Subsea 7	$6.4B	0.9x	5.0x
Archrock	$6.4B	4.8x	9.0x
Centrica	$6.4B	0.2x	2.7x
NOV Inc.	$6.4B	0.7x	5.9x
Kinetik Holdings	$6.3B	3.7x	6.1x
Banpu	$6.0B	1.1x	4.9x
Crescent Energy	$6.0B	1.8x	3.4x
SM Energy	$6.0B	2.0x	2.8x
PBF Energy	$5.9B	0.2x	191.6x
Thaioil	$5.9B	0.4x	7.9x
Romgaz	$5.9B	3.2x	5.9x
Viva Energy Australia	$5.9B	0.3x	12.4x
MEG Energy	$5.7B	1.6x	5.5x
Grupo Ultra	$5.6B	0.2x	5.3x
Kunlun Energy	$5.6B	0.2x	2.4x
Worley	$5.6B	0.7x	8.5x
Motor Oil (Hellas)	$5.6B	0.4x	5.0x
Murphy Oil	$5.6B	2.0x	3.6x
Kodiak Gas Services	$5.5B	4.3x	8.2x
USA Compression	$5.5B	5.6x	9.2x
Energean	$5.4B	3.1x	4.7x
ChampionX	$5.4B	1.5x	7.0x
Viper Energy	$5.3B	4.7x	5.5x
Northern Oil & Gas	$5.3B	2.4x	3.4x
Rubis	$5.3B	0.7x	6.2x
Golar LNG	$5.2B	15.3x	20.4x
Genesis Energy	$5.2B	2.3x	8.8x
California Resources	$5.1B	1.6x	4.7x
HELLENiQ ENERGY	$5.1B	0.4x	4.8x
Weatherford	$5.1B	1.0x	4.3x
Yinson	$5.0B	3.3x	7.4x
CNOOC Energy Technology	$4.9B	0.6x	5.1x
PetroVietnam Gas	$4.8B	1.2x	8.0x
Gibson Energy	$4.8B	0.6x	10.8x
Luberef	$4.8B	1.9x	14.1x
Brava Energia	$4.7B	2.4x	5.5x
MedcoEnergi	$4.7B	2.0x	3.9x
Magnolia Oil & Gas	$4.6B	3.5x	4.9x
Bangchak Corporation	$4.6B	0.3x	3.8x
Ithaca Energy	$4.6B	1.8x	2.6x
Delek Logistics	$4.5B	4.6x	9.8x
CVR Energy	$4.5B	0.6x	13.0x
Technip Energies	$4.4B	0.5x	6.0x
Mangalore Refinery	$4.4B	0.4x	12.5x
Jereh Group	$4.4B	2.1x	7.9x
Petronet LNG	$4.3B	0.7x	6.6x
MyMesra	$4.3B	0.5x	9.2x
Valaris	$4.3B	1.9x	8.3x
Navitas Petroleum	$4.2B	n/a	n/a
PrairieSky Royalty	$4.2B	10.9x	12.4x
Delek US Holdings	$4.1B	0.4x	11.4x
Gulfport Energy	$4.0B	3.3x	4.8x
SK Gas	$4.0B	0.7x	9.4x
Alliance Res Partners	$3.9B	1.6x	5.6x
Global Partners	$3.9B	0.2x	9.7x
Kosmos Energy	$3.8B	2.4x	4.2x
Woqod	$3.8B	n/a	n/a
Peyto	$3.8B	4.0x	5.1x
Helmerich & Payne	$3.8B	1.1x	4.3x
Calumet	$3.7B	0.9x	15.8x
Patterson-UTI	$3.6B	0.7x	3.5x
Transportadora de Gas del Sur	$3.5B	3.2x	6.0x
PTT Oil and Retail	$3.5B	0.2x	6.2x
TerraVest Industries	$3.4B	3.6x	18.8x
Equital	$3.4B	n/a	n/a
Par Pacific Holdings	$3.3B	0.5x	13.0x
Topaz Energy	$3.3B	12.8x	13.6x
Aegis Logistics	$3.2B	n/a	n/a
Vital Energy	$3.1B	1.6x	2.4x
Baytex Energy	$3.1B	1.1x	2.1x
Petrol Group	$3.0B	n/a	n/a
Tidewater	$2.9B	2.2x	5.2x
Arabian Drilling	$2.9B	3.0x	7.4x
Cactus	$2.8B	2.5x	7.7x
Scorpio Tankers	$2.8B	2.6x	4.0x
Talos Energy	$2.7B	1.4x	2.2x
Oceaneering	$2.6B	1.0x	7.1x
Vermilion Energy	$2.6B	1.7x	3.0x
Flex LNG	$2.6B	7.1x	9.3x
TORM	$2.6B	2.5x	3.7x
Liberty Energy	$2.6B	0.6x	3.3x
ProFrac	$2.5B	1.2x	5.7x
OGDC	$2.5B	n/a	2.8x
Sitio Royalties	$2.5B	4.2x	4.8x
Tamarack Valley Energy	$2.5B	2.0x	3.5x
International Seaways	$2.5B	2.8x	4.8x
Genesis Energy New Zealand	$2.4B	0.9x	8.3x
BlueNord	$2.4B	2.4x	4.1x
Beach Energy	$2.3B	1.8x	3.0x
Odfjell Drilling	$2.3B	2.7x	5.7x
Atlas Energy Solutions	$2.3B	2.0x	7.5x
NuVista Energy	$2.2B	2.3x	4.2x
HighPeak Energy	$2.2B	2.3x	2.9x
Mach Natural Resources	$2.2B	2.1x	3.8x
TGS	$2.2B	1.5x	2.4x
International Petroleum	$2.2B	2.8x	7.5x
Jiangxi Jovo Energy Co	$2.1B	0.7x	6.9x
BKV Corporation	$2.1B	2.8x	7.4x
DHT Holdings	$2.1B	5.4x	7.1x
World Kinect	$2.1B	0.1x	5.8x
Athabasca Oil Corporation	$2.0B	2.0x	4.6x
Tsakos Energy Navigation	$2.0B	3.0x	4.9x
Modec	$2.0B	0.5x	4.5x
BW Offshore	$1.9B	3.5x	5.4x
Advantage Energy	$1.9B	3.7x	7.0x
Navigator Gas	$1.9B	3.4x	6.3x
Shanghai Petrochemical	$1.9B	0.2x	5.3x
Birchcliff Energy	$1.9B	3.5x	5.9x
AKSA Enerji	$1.8B	n/a	n/a
Afriquia Gaz	$1.8B	1.7x	9.8x
Fugro	$1.8B	0.7x	3.4x
LandBridge	$1.7B	10.9x	12.3x
CrossAmerica Partners	$1.7B	0.5x	11.7x
Paramount Resources	$1.7B	1.9x	4.0x
Fluxys Belgium	$1.7B	2.3x	4.6x
Dorian LPG	$1.6B	4.4x	7.7x
Kimbell Royalty Partners	$1.6B	4.9x	5.8x
MRC Global	$1.6B	0.5x	7.8x
Bukit Asam	$1.6B	0.6x	3.6x
National Gas	$1.5B	n/a	n/a
Viridien	$1.5B	1.2x	3.0x
Petrolimex	$1.5B	0.1x	7.3x
Nanjing Tanker	$1.5B	1.7x	4.2x
Wood	$1.4B	0.2x	3.1x
Aker Solutions	$1.4B	0.3x	3.1x
Natural Resources	$1.4B	n/a	n/a
Dana Gas	$1.4B	3.9x	5.4x
DNO	$1.4B	1.2x	2.1x
Helix Energy Solutions	$1.3B	1.0x	4.4x
Select Water	$1.3B	0.9x	4.7x
Dorchester Minerals	$1.3B	n/a	n/a
Maurel & Prom	$1.2B	1.6x	3.5x
Innovex International	$1.1B	1.4x	7.1x
Headwater Exploration	$1.1B	2.6x	4.1x
COOEC	$1.1B	0.3x	2.0x
Expro	$1.1B	0.7x	3.4x
Capex	$1.0B	n/a	n/a
CIMC Enric	$898M	0.3x	3.5x
Excelerate Energy	$882M	0.9x	2.3x
Teekay Tankers	$879M	1.3x	2.4x
JANAF	$863M	n/a	n/a
RPC Inc.	$840M	0.5x	3.6x
Sea1 Offshore	$763M	2.3x	4.4x
Core Laboratories	$761M	1.5x	10.2x
Hallador Energy	$717M	1.8x	27.9x
Star Group	$707M	n/a	n/a
Archer	$659M	0.5x	4.2x
Tetra Technologies	$650M	1.1x	6.4x
Gas Arabian Services	$645M	2.0x	20.5x
2G Energy	$641M	1.3x	12.1x
Schoeller-Bleckmann	$623M	1.0x	5.1x
Sinopec Kantons Holdings	$479M	5.6x	3.3x
KN Energies	$454M	n/a	n/a
Oil States International	$431M	0.6x	5.2x
Deutsche Rohstoff	$404M	1.7x	2.4x
Dynagas LNG Partners	$384M	2.6x	n/a
Prosafe	$379M	2.6x	14.6x
Reach Subsea	$366M	1.4x	3.1x
Akastor	$346M	5.8x	10.7x
Petrolina (Hldgs)	$330M	n/a	n/a
Tamboran Resources	$319M	466.7x	-12.3x
Gas Plus	$272M	n/a	n/a
La Francaise de l'Energie	$267M	6.6x	10.2x
HMS Bergbau	$250M	0.1x	10.1x
Deep Value Driller	$244M	4.4x	4.7x
Infinity Natural Resources	$240M	0.7x	1.0x
Makpetrol	$216M	n/a	n/a
Awilco LNG	$207M	n/a	n/a
Bumech	$168M	n/a	n/a
Eidesvik Offshore	$150M	n/a	n/a
Geospace Technologies	$143M	n/a	n/a
A.b.p. Nocivelli	$129M	1.3x	6.7x
Conpet	$127M	n/a	n/a
Oil Terminal	$125M	n/a	n/a
Okea	$90.1M	0.1x	0.1x
Daldrup & Söhne	$90.0M	1.4x	8.9x
NorAm Drilling	$89.7M	0.9x	4.0x
Pyxis Tankers	$73.5M	1.7x	3.5x
Docks Petroles d Ambes	$71.8M	n/a	n/a
Uni-Fuels	$69.9M	n/a	n/a
Argeo	$62.1M	1.0x	6.2x
Robit	$56.4M	0.5x	6.9x
Dolphin Drilling	$51.7M	0.4x	-13.0x
InterOil Exploration	$44.2M	n/a	n/a
ElectroMagnetic	$40.3M	n/a	n/a
Onico	$36.5M	n/a	n/a
Crown LNG Holdings	$35.3M	n/a	n/a
Rompetrol Well Servs	$29.6M	n/a	n/a
Toplivo	$23.7M	n/a	n/a
Robin Energy	$18.7M	n/a	n/a
Ecoslops	$17.6M	n/a	n/a
Petrolia	$14.9M	n/a	n/a
Atlantic Petroleum	$12.9M	n/a	n/a
Acceleware	$10.3M	n/a	n/a
Oil and Gas Explr and Pro	$9.7M	n/a	n/a
Hunter Group	$7.0M	n/a	n/a
Standard Supply	$3.6M	n/a	n/a
PTL Limited	$3.5M	n/a	n/a
Clean & Carbon Energy	$3.4M	n/a	n/a
Igrene	$1.6M	n/a	n/a
Condmag	-$0.7M	n/a	n/a
S.D. Standard ETC	-$3.9M	n/a	n/a
Teekay	-$5.5M	n/a	n/a
Esso	-$31.3M	n/a	n/a
Maha Energy	-$34.9M	n/a	n/a
LW Bogdanka	-$59.3M	-0.1x	-0.3x
Imperial Ptrl	-$117M	-0.8x	-2.1x