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TotalEnergies SE TTE

Morningstar Rating
€58.60 −1.09 (1.83%)
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Company Report

TotalEnergies Earnings: Earnings Decline, but Dividend Increased, Repurchases to Continue

No-moat TotalEnergies' fourth-quarter adjusted net income fell to $5.2 billion from $7.6 billion the year before because of lower oil and gas prices and weaker refining margins, slightly missing market expectations. As with the third quarter, the decline in gas prices in particular weighed on E&P and integrated LNG results. Integrated power maintained its momentum with continued earnings growth, which management expects to carry over to 2024 with cash flow of between $2.5 billion and $3.0 billion. Excluding Novatek volumes, oil and gas production fell slightly in the fourth quarter but increased 2% from the year before to 2,483 thousand barrels of oil equivalent per day.

Price vs Fair Value

TTE is trading at a 4% discount.
Price
€58.60
Fair Value
€76.00
Uncertainty
High
1-Star Price
€28.89
5-Star Price
€32.80
Economic Moat
Stdh
Capital Allocation
Zkzwrpt

Bulls Say, Bears Say

Bulls

Although investing for the energy transition, Total remains committed to hydrocarbons and expects to increase production through mid-decade, including new LNG and oil projects.

Bears

Total’s strategy of growing hydrocarbon production in the interim while investing in decarbonization for the long term is unlikely to satisfy investors looking for one or the other.

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News

Trading Information

Previous Close Price
€59.69
Day Range
€58.5859.66
52-Week Range
€50.5564.80
Bid/Ask
€58.59 / €58.78
Market Cap
€136.82 Bil
Volume/Avg
3.4 Mil / 4.0 Mil

Key Statistics

Price/Earnings (Normalized)
6.08
Price/Sales
0.73
Dividend Yield (Trailing)
4.97%
Dividend Yield (Forward)
5.39%
Total Yield
10.90%

Company Profile

TotalEnergies is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 1.5 million barrels of liquids and 6.8 billion cubic feet of natural gas per day. At end-2022, reserves stood at 10.2 billion barrels of oil equivalent, 56% of which are liquids. During 2021, it had LNG sales of 48.1 Mt. The company owns interests in refineries with capacity of nearly 2.0 million barrels a day, primarily in Europe, distributes refined products in 65 countries, and manufactures commodity and specialty chemicals. It also holds a 19% interest in Russian oil company Novatek. At year-end, its gross installed renewable power generation capacity was 16.8 GW.
Sector
Energy
Industry
Oil & Gas Integrated
Stock Style Box
Large Value
Total Number of Employees
100,000

Competitors

Valuation

Metric
TTE
E
CVX
Price/Earnings (Normalized)
6.083.7711.01
Price/Book Value
1.350.841.74
Price/Sales
0.730.481.44
Price/Cash Flow
4.644.427,318.15
Price/Earnings
TTE
E
CVX

Financial Strength

Metric
TTE
E
CVX
Quick Ratio
0.581.010.84
Current Ratio
1.151.431.25
Interest Coverage
12.891.2577.06
Quick Ratio
TTE
E
CVX

Profitability

Metric
TTE
E
CVX
Return on Assets (Normalized)
8.40%6.08%10.12%
Return on Equity (Normalized)
22.20%16.41%16.29%
Return on Invested Capital (Normalized)
14.95%11.06%14.39%
Return on Assets
TTE
E
CVX
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Name
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Economic Moat
Market Cap
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Shell PLCFwht$202.6 Bil
SHEL
Shell PLC ADR (Representing - Ordinary Shares)Lsmyv$202.6 Bil
TTE
TotalEnergies SE ADRKklgj$147.4 Bil
PBR
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