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The Screen · Energy · Oil & Gas Integrated
TotalEnergies SE
TTE · the NYSE · USD · Market cap $203.7B · 94,847 employees
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 int…
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.32, read 2026-11-03
Ethical passes the values gate
Price92.70 USD
Fair value100.17
Ethical score70.0/100
Value readFairas of 3 Nov 2026
Our investment reviews on this name
2026-10-21Read Markup89.95+3.1% to today ✓Distribution gives way to Markup
2026-10-14Read Distribution86.11+7.7% to today Markdown gives way to Distribution first Distribution read since July
2026-10-02Read Markdown87.71+5.7% to today Accumulation gives way to Markdown with volume flow in agreement
2026-08-24Read Accumulation86.27+7.5% to today ✓Distribution gives way to Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
TotalEnergies SE holds its Accumulation at $92.70. Consolidating, no directional conviction, held for 113 days.
As held on the ledger · 2026-11-03
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 113 days
Price at the screen
$92.70
Valuation
9.25 trailing · 7.81 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.04
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
20.64%
Below 33%
Interest-bearing debt is just 20.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.83%
Below 33%
Cash held in interest-bearing accounts and securities is 0.8% of assets, under the one-third limit.
Pass
Receivables
14.67%
Below 49%
Money owed to the company is 14.7% of assets, under the 49% limit.
Pass
Revenue purity
0.61%
Below 5%
Only 0.6% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
TotalEnergies SE clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 21%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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Get an email when TTE's ethical verdict changes
Today TTE passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Fair vs our fair value, as of 3 Nov 2026: it trades at roughly a 7% discount to our $100.17 fair value, narrow competitive moat, 41.10% revenue growth.
Fair value range in USD, drawn from the 2026-11-03 screen. The gold marker is the market price at the same screen. A 7.5% discount to the base estimate.
Where our models see it going: fair-value estimate $100.17, with a range of $75.26 to $125.43, dated to the 2026-11-03 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Energy Titan's Cyclical Numbers Game
Picture this: for every barrel of oil pumped and every cubic meter of gas sold, a company like TotalEnergies SE is at the heart of the action. In a world increasingly focused on energy transition, TotalEnergies SE stands out for its broad portfolio spanning from traditional fossil fuels to renewables. It's a business that's reported a robust 28% revenue growth, yet with a forward P/E of 9.3x, the market seems to be discounting future prospects.
However, the cyclical nature of this industry demands a closer look at these numbers. The company's 9% profit margin and 14% ROE are solid, yet the low multiple might be signaling a peak earnings scenario—a classic cyclical value trap. With oil and gas prices having a significant sway over TotalEnergies SE's bottom line, investors could be right to be cautious.
Risk here is twofold: the market's skepticism about the sustainability of the current earnings in this cyclical sector, and the ever-present geopolitical and commodity price volatility. Despite passing our ethical screen, investors should tread carefully, keeping a weather eye on the cyclical winds of the energy market. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to France and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TTE trades on the NYSE (the company is based in France). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Markup$89.95+0.0%Entry 15
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 10% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97.
2026-10-21Markup · changed$89.95+4.5%Entry 14
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 1.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97.
2026-10-02Markdown · changed$87.71+1.7%Entry 12
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 6.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97.
2026-07-23Distribution$81.39+0.0%Entry 10
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-22Distribution$81.39+0.0%Entry 9
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-21Distribution$81.39+0.0%Entry 8
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-20Distribution$81.39+0.0%Entry 7
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-19Distribution$81.39-7.5%Entry 6
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 25% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (7 analysts) rates it none, with a mean price target of $97. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
