TotalEnergies SE's Operating Income for the
three
months ended in Mar. 2026 was MXN183,122 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN432,132 Mil.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
TotalEnergies SE's annualizedROC % for the quarter that ended in Mar. 2026 was 10.84%.
TotalEnergies SE's annualizedROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 33.44%.
TotalEnergies SE (MEX:TOT N) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
TotalEnergies SE's annualizedROC % for the quarter that ended in Mar. 2026 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.
Be Aware
Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
TotalEnergies SE Operating Income Related Terms
TotalEnergies SE Operating Income Historical Data
* Premium members only.
The historical data trend for TotalEnergies SE's Operating Income can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.
Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was MXN432,132 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Operating Income of MXN432,132 Mil mean?
TotalEnergies SE (MEX:TOT N) has a Operating Income of MXN432,132 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TotalEnergies SE and its competitors.
Is TotalEnergies SE's Operating Income too high?
TotalEnergies SE's current Operating Income is MXN432,132 Mil. Overall, TotalEnergies SE has a GF Score™ of 64/100, reflecting its overall financial health beyond just this single metric.
How does TotalEnergies SE's Operating Income compare to XOM and CVX?
TotalEnergies SE's Operating Income of MXN432,132 Mil can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Oil & Gas company?
A good Operating Income depends on the Oil & Gas industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TotalEnergies SE and its competitors. TotalEnergies SE's current Operating Income is MXN432,132 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TotalEnergies SE stock overvalued right now?
TotalEnergies SE (MEX:TOT N) has a current Operating Income of MXN432,132 Mil. The stock's GF Value™ is MXN1,033.13, compared to a current price of MXN1,195.56 — trading 15.7% above its estimated fair value. The current Operating Income is MXN432,132 Mil. TotalEnergies SE's overall GF Score™ is 64/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For TotalEnergies SE (MEX:TOT N), the current Operating Income is MXN432,132 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is TotalEnergies SE (MEX:TOT N) Overvalued in 2026?
Based on GuruFocus' analysis, TotalEnergies SE stock appears to be overvalued.
The current stock price of MXN1,195.56 is trading 15.7% above its estimated GF Value™ of MXN1,033.13.
Key valuation signals for MEX:TOT N:
Operating Income: MXN432,132 Mil
GF Value™: MXN1,033.13 vs. price of MXN1,195.56 (15.7% above fair value)
No single metric tells the full story. See the MEX:TOT N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TotalEnergies is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2025, it produced 1.5 million barrels of liquids and 5.4 billion cubic feet of natural gas per day. At the end of 2025, reserves stood at 11.2 billion barrels of oil equivalent, 55% of which are liquids. During 2025, it had LNG sales of 43.9 million metric tons. The company owns interests in refineries with a capacity of nearly 1.8 million barrels a day, primarily in Europe, distributes refined products in 65 countries, and manufactures commodity and specialty chemicals. At year-end, its gross installed renewable power generation capacity was 34 gigawatts.
64GF Score
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