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TotalEnergies SE – Crude Petroleum and Natural Gas Extraction
TotalEnergies SE is a French multinational integrated energy and petroleum company founded in 1924 and one of the seven supermajor oil companies.
Analysis Results
Intrinsic Value $810.31
Latest Price $59.76
Relative Value 93% undervalued
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Cash Flow (Billions)
Analysis Parameters
New Ticker
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 33.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 5.4%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 33.5%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2022 27.4 26.0
2023 36.5 32.9
2024 48.8 41.6
2025 65.1 52.7
2026 86.8 66.8
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 2610 billion. This corresponds to a present value of 1900 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 220 billion. Adding in the terminal value gives a total present value of 2120 billion.

There are presently 2.62 billion outstanding shares, so the intrinsic value per share is 810.31.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 111,136,000,000
Current Cash 33,657,000,000
Current Liabilities 95,102,000,000
Current Debt 15,407,000,000
Non-Cash Working Capital (NCWC) -2,216,000,000
Change in NCWC 1,377,000,000
EBIT 27,566,000,000
Tax Provision 9,587,000,000
Depreciation and Amortization 14,343,000,000
Capital Expenditure -12,343,000,000
Unlevered Free Cash Flow 20,760,160,174
Current Assets 79,679,000,000
Current Cash 35,898,000,000
Current Liabilities 64,676,000,000
Current Debt 17,302,000,000
Non-Cash Working Capital (NCWC) -3,593,000,000
Change in NCWC -2,576,000,000
EBIT -6,653,000,000
Tax Provision 318,000,000
Depreciation and Amortization 22,861,000,000
Capital Expenditure -10,764,000,000
Unlevered Free Cash Flow 2,868,000,000
Current Assets 85,265,000,000
Current Cash 31,344,000,000
Current Liabilities 70,244,000,000
Current Debt 15,306,000,000
Non-Cash Working Capital (NCWC) -1,017,000,000
Change in NCWC -805,000,000
EBIT 18,936,000,000
Tax Provision 5,872,000,000
Depreciation and Amortization 16,401,000,000
Capital Expenditure -11,810,000,000
Unlevered Free Cash Flow 16,298,418,717
Current Assets 79,799,000,000
Current Cash 31,561,000,000
Current Liabilities 62,234,000,000
Current Debt 13,784,000,000
Non-Cash Working Capital (NCWC) -212,000,000
Change in NCWC -3,218,000,000
EBIT 18,603,000,000
Tax Provision 6,516,000,000
Depreciation and Amortization 14,584,000,000
Capital Expenditure -17,080,000,000
Unlevered Free Cash Flow 6,179,316,174
Current Assets 84,948,000,000
Current Cash 36,578,000,000
Current Liabilities 56,705,000,000
Current Debt 11,341,000,000
Non-Cash Working Capital (NCWC) 3,006,000,000
Change in NCWC 72,000,000
EBIT 9,201,000,000
Tax Provision 3,029,000,000
Depreciation and Amortization 16,611,000,000
Capital Expenditure -13,767,000,000
Unlevered Free Cash Flow 9,656,739,671
Current Assets 72,517,000,000
Current Cash 29,145,000,000
Current Liabilities 54,685,000,000
Current Debt 14,247,000,000
Non-Cash Working Capital (NCWC) 2,934,000,000
Change in NCWC 473,000,000
EBIT 6,976,000,000
Tax Provision 970,000,000
Depreciation and Amortization 14,423,000,000
Capital Expenditure -18,106,000,000
Unlevered Free Cash Flow 2,823,034,559
Current Assets 70,236,000,000
Current Cash 29,459,000,000
Current Liabilities 50,975,000,000
Current Debt 12,659,000,000
Non-Cash Working Capital (NCWC) 2,461,000,000
Change in NCWC -6,491,000,000
EBIT 4,477,000,000
Tax Provision 1,653,000,000
Depreciation and Amortization 19,334,000,000
Capital Expenditure -25,132,000,000
Unlevered Free Cash Flow -8,961,321,478
Current Assets 77,977,000,000
Current Cash 26,474,000,000
Current Liabilities 53,673,000,000
Current Debt 11,122,000,000
Non-Cash Working Capital (NCWC) 8,952,000,000
Change in NCWC -4,476,969,540
EBIT 11,475,000,000
Tax Provision 8,614,000,000
Depreciation and Amortization 20,859,000,000
Capital Expenditure -26,320,000,000
Unlevered Free Cash Flow -6,146,866,461
Current Assets 84,417,152,820
Current Cash 20,892,718,980
Current Liabilities 61,643,359,820
Current Debt 11,547,895,520
Non-Cash Working Capital (NCWC) 13,428,969,540
Change in NCWC -3,314,963,170
EBIT 28,174,828,500
Tax Provision 15,288,026,600
Depreciation and Amortization 13,840,411,480
Capital Expenditure -30,823,744,000
Unlevered Free Cash Flow -7,955,865,381

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