TotalEnergies SE (TTE) fair value: what the stock is really worth
As of Nov 2, 2026: fair value (intrinsic value) of TotalEnergies SE stock €74.26, price €83.61, that is 11.2% below the price, quality 57 out of 100. Rating: overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 2, 2026.
How to read this chart
60‑month range €27.11 – €85.43 · fair‑value band €48.01 – €93.31 · the €83.61 price screens above the €74.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 2, 2026.
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TotalEnergies SE, an integrated energy company, produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity in France, the United States, Europe, Brazil, India, and internationally.
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The company was formerly known as TOTAL SE and changed its name to TotalEnergies SE in June 2021. TotalEnergies SE was incorporated in 1924 and is headquartered in Courbevoie, France.
Stock analysis
TotalEnergies SE (TTE) currently trades at €83.61, while our model-based Fair Value estimate is €74.26, 11.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of €79.89 per share, and 1 of the 24 models we run sit above the €83.61 price.
Bear case: the Asset-Based group reads lowest at €21.11, and 23 of the 24 models stay below the price. Data coverage for this calculation is high.
Scenario range: €48.01 (bear) to €93.31 (bull), the price of €83.61 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
TotalEnergies SE reported revenue of $182B in FY2025 versus $185B in FY2021, a compound −0.3%/yr. Reported net income was $13.1B in FY2025, compounding −5.4%/yr from FY2021.
Key figures
Market cap €189B Mega · P/E ratio 9.8 · P/S ratio 0.98 · EPS (TTM) €8.52 · Dividend yield 4.9% · Net margin 10.5% · Return on equity 17.8% · Return on assets (EBIT) 13.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (medium confidence).
What moves the price
The share trades about 2% below its 52-week high and 65% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −22% fair-value upside, at −11%, TTE screens cheaper than that median.
Fair Value models
Bear€48.01Fair Value €74.26Bull€93.31
Price €83.61 · Downside -11.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (€3.69 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−6.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.8%
Start year 2020 (pandemic). Over 10 years: +2.4% a year
Revenue growth 33 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+7.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.7%
Dividend (yield on the price)4.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.base effect: 2.7% / 10.6%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−4% → 11%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.0%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +4.5% a year for the price and −0.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (91 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The integrated model provides scale across energy value chains, yet limited differentiation in commodity markets and heavy reliance on oil, gas and refining constrain any durable edge.
Main risk: French courts could require TotalEnergies to expand its vigilance plan to cover emissions from customer use of its oil and gas products and to implement mitigation measures that constrain upstream activities.
Bull case: TotalEnergies could accelerate its electricity and renewables growth to reduce reliance on hydrocarbons while using AI partnerships to optimise legacy assets and meet evolving regulatory expectations.
Bear case: Ongoing litigation and regulatory scrutiny could compel production cuts or project delays in oil and gas, eroding cash flows that currently support dividends and buybacks as the transition advances.
TotalEnergies is adding 700 MW of solar assets to its US renewables joint venture with KKR. This step expands the electricity business while the company still generates most of its cash from oil, gas and refining. Our models see the stock as overvalued. Does the integrated approach capture enough upside from the energy transition or does the legacy hydrocarbon base limit the upside?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Integrated · 42 stocks
Beats the industry median on 12/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score57 · Below median
Fair Value upside−11.2% · Above median
Profitability
Return on equity (12 months)17.8% · Above median
Return on assets4.5% · Below median
Net margin (12 months)10.5% · Above median
Operating margin (12 months)21.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)41.1% · Above median
Dividend yield (12 months)4.9% · Above median
Balance sheet
Debt / equity0.42× · Above median
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "TotalEnergies SE Fair Value". https://www.fairvalue-calculator.com/stock/TTE
Frequently asked questions
Is TotalEnergies SE (TTE) overvalued or undervalued?
As of Nov 2, 2026, our model estimates a fair value of €74.26 versus a price of €83.61, about 11% lower (overvalued).
What is the fair value of TTE?
Our model-based fair value for TotalEnergies SE is €74.26 (as of Nov 2, 2026), built from audited fundamentals. The current price: €83.61.
What is the quality score of TTE?
TotalEnergies SE has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for TotalEnergies SE (TTE)?
Our model-based price target is the fair value of €74.26 (as of Nov 2, 2026) from 24 valuation models. Cautious scenario €48.01, optimistic scenario €93.31. It is a calculation from audited fundamentals, not an analyst target.
What is the TotalEnergies SE stock forecast for 2026?
Our models put fair value at €74.26, about 11% lower versus a price of €83.61 (overvalued). Cautious scenario €48.01, optimistic scenario €93.31. The calculation is refreshed regularly with new filings.
What is the revenue of TotalEnergies SE (TTE)?
TotalEnergies SE reported trailing-twelve-month revenue of about $214B (latest available figure, as of Nov 2, 2026).
Does TotalEnergies SE pay a dividend?
TotalEnergies SE currently shows a dividend yield of 4.94% relative to its recent price (as of Nov 2, 2026).
What growth is priced into TotalEnergies SE (TTE)?
For today's price to be fair in a discounted-cash-flow model, TotalEnergies SE would have to grow free cash flow by +7.0 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +8.8 % per year. As of Nov 2, 2026.
What discount rate (WACC) does the fair value of TTE use?
Our models discount TotalEnergies SE at 8.1 %: a base by market capitalisation (mega), damped by beta 0.09, country premium for France. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For TotalEnergies SE that is +7.0 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has TotalEnergies SE (TTE) delivered so far?
Over the past 5 years revenue at TotalEnergies SE grew +8.8 % a year. The price currently implies +7.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of TotalEnergies SE (TTE) growing?
The median revenue growth in the sector is +14.0 % a year. That is the yardstick for the growth priced into TotalEnergies SE (+7.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TotalEnergies SE (TTE)?
The free-cash-flow yield on the price is 5.12 %: that much free cash flow TotalEnergies SE produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TotalEnergies SE (TTE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TotalEnergies SE it is €74.26 per share (as of Nov 2, 2026), against a price of €83.61. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is TotalEnergies SE stock overvalued or undervalued in 2026?
As of Nov 2, 2026, TTE trades above its calculated fair value: price €83.61, fair value €74.26, a gap of about −11% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TTE?
No. The price is what the market pays today (€83.61); the fair value is what the company's own numbers justify (€74.26). For TotalEnergies SE the two are €9.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is TotalEnergies SE worth?
The market values TotalEnergies SE at about €189B (market capitalisation, as of Nov 2, 2026). Per share that is €83.61; our models calculate a fair value of €74.26 per share.
What do the bullish and bearish scenarios say about TTE?
Our models span a range for TotalEnergies SE: cautious scenario €48.01, base €74.26, optimistic €93.31 per share (as of Nov 2, 2026, price €83.61). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TTE?
TotalEnergies SE trades at a price-to-earnings ratio of 9.8 (as of Nov 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €74.26 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2016 to 2025), reported earnings: 11.0. Other multiples: PEG 0.7, P/B 1.8, P/S 1.0, EV/EBITDA 4.8.
What is the PEG ratio of TTE?
The PEG ratio of TotalEnergies SE is 0.72 (P/E divided by earnings growth, as of Nov 2, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of TotalEnergies SE (TTE)?
Balance-sheet figures for TotalEnergies SE (as of Nov 2, 2026): return on equity 17.8%, debt of 0.42 per unit of equity. They feed the Quality Score of 57/100, which measures business quality independently of the share price.
How far is TTE from its 52-week high?
TotalEnergies SE trades at €83.61, about 2% below its 52-week high of €85.43 and 65% above the low of €50.66 (as of Nov 2, 2026). Distance from the high says nothing about value: that is what the fair value of €74.26 is for.
Which stocks are comparable to TotalEnergies SE?
From the same area (Energy) we also value Saudi Arabian Oil Company, Exxon Mobil Corporation, Chevron Corporation, PetroChina Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is TotalEnergies SE stock attractive at the current price?
The data as of Nov 2, 2026: price €83.61, calculated fair value €74.26 (−11%), Quality Score 57/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TTE calculated?
We run TotalEnergies SE through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €74.26, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. TotalEnergies SE itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of TotalEnergies SE (TTE)?
The closing price on Nov 2, 2026 was €83.61. Our model-based fair value is €74.26, about 11% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TotalEnergies SE right now?
A fairly wide model range (€48.01 to €93.31) leaves room in how you read the outcome. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of TotalEnergies SE (TTE) come from?
Earnings per share at TotalEnergies SE grew +14.2 % a year from 2014 to 2025. Broken into its drivers: revenue per share +2.5 %, EBIT margin +19.3 %, tax rate +0.4 %, residual (interest, one-offs) −7.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of TotalEnergies SE
How large is the market capitalisation of TotalEnergies SE (TTE)?
The market capitalisation of TotalEnergies SE is €189B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of TotalEnergies SE (TTE)?
The price-to-sales ratio of TotalEnergies SE is 0.98 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TotalEnergies SE (TTE)?
Earnings per share at TotalEnergies SE are €8.52 (price ÷ EPS = P/E 9.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TotalEnergies SE (TTE)?
The dividend yield of TotalEnergies SE is 4.9% (payout 48.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of TotalEnergies SE (TTE)?
The net margin of TotalEnergies SE is 10.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of TotalEnergies SE (TTE)?
The return on equity (ROE) of TotalEnergies SE is 17.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of TotalEnergies SE (TTE)?
On an EBIT basis the return on assets of TotalEnergies SE is 13.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of TotalEnergies SE (TTE)?
The operating margin of TotalEnergies SE is 21.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TotalEnergies SE (TTE)?
Revenue at TotalEnergies SE is growing +41.1% versus a year earlier (3y avg −11.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at TotalEnergies SE (TTE)?
Earnings per share at TotalEnergies SE are growing +123% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TotalEnergies SE (TTE) carry?
The net debt of TotalEnergies SE is $34.8B (fiscal year 2025, ≈ 3.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 2, 2026