Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. TotalEnergies SE's annualized net income for the quarter that ended in Mar. 2026 was MXN419,080 Mil. TotalEnergies SE's average shareholder tangible equity for the quarter that ended in Mar. 2026 was MXN1,661,217 Mil. Therefore, TotalEnergies SE's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 25.23%.
The historical rank and industry rank for TotalEnergies SE's Return-on-Tangible-Equity or its related term are showing as below:
MEX:TOT N'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -6.93 Med: 11.58 Max: 21.03
Current: 17.49
During the past 13 years, TotalEnergies SE's highest Return-on-Tangible-Equity was 21.03%. The lowest was -6.93%. And the median was 11.58%.
MEX:TOT N's Return-on-Tangible-Equity is ranked better than 75.42% of 944
companies
in the Oil & Gas industry
Industry Median: 6.73
vs MEX:TOT N: 17.49
TotalEnergies SE (MEX:TOT N) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
TotalEnergies SE Return-on-Tangible-Equity Related Terms
TotalEnergies SE Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for TotalEnergies SE's Return-on-Tangible-Equity 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.
MEX:TOT N vs XOM, CVX: Return-on-Tangible-Equity Comparison
For the Oil & Gas Integrated subindustry, TotalEnergies SE's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
TotalEnergies SE Return-on-Tangible-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TotalEnergies SE's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where TotalEnergies SE's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 25.23% mean?
TotalEnergies SE (MEX:TOT N) has a Return-on-Tangible-Equity of 25.23% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on TotalEnergies SE and its competitors. This is 118% above median its historical median of 11.58. According to the industry distribution chart, TotalEnergies SE ranks #232 out of 944 companies in the Oil & Gas industry, placing it in the top 24.6%.
Is TotalEnergies SE's Return-on-Tangible-Equity too high?
TotalEnergies SE's current Return-on-Tangible-Equity of 25.23% is 118% above median its 10-year median of 11.58. The Oil & Gas industry median Return-on-Tangible-Equity is 6.73. TotalEnergies SE's value of 25.23% is 274.9% above this industry median. Based on the distribution chart, TotalEnergies SE ranks #232 out of 944 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, TotalEnergies SE has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does TotalEnergies SE's Return-on-Tangible-Equity compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, TotalEnergies SE ranks #232 out of 944 companies for Return-on-Tangible-Equity. This places TotalEnergies SE in the top 25% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.73. TotalEnergies SE's value of 25.23% is 274.9% above this benchmark. While the company's 10-year median is 11.58 vs. the industry median of 6.73, TotalEnergies SE has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Oil & Gas company?
The median Return-on-Tangible-Equity among Oil & Gas companies is 6.73, based on 944 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. TotalEnergies SE's current Return-on-Tangible-Equity of 25.23% is 274.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on TotalEnergies SE and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Equity is 6.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TotalEnergies SE's current Return-on-Tangible-Equity is 25.23%, which is 118% above median its own 10-year median of 11.58. 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 Return-on-Tangible-Equity of 25.23%. The stock's GF Value™ is MXN1,048.62, compared to a current price of MXN1,195.56 — trading 14% above its estimated fair value. The current Return-on-Tangible-Equity is 25.23%, which is 118% above median its 10-year median of 11.58 and 274.9% above the Oil & Gas industry median of 6.73. TotalEnergies SE's overall GF Score™ is 66/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For TotalEnergies SE (MEX:TOT N), the current Return-on-Tangible-Equity is 25.23% 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 14% above its estimated GF Value™ of MXN1,048.62.
Key valuation signals for MEX:TOT N:
Return-on-Tangible-Equity: 25.23% (118% above median its 10-year median of 11.58)
GF Value™: MXN1,048.62 vs. price of MXN1,195.56 (14% above fair value)
Industry Position: 274.9% above the Oil & Gas median (#232 of 944)
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.
66GF Score
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