Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.
TotalEnergies SE's operating assets for the quarter that ended in Mar. 2026 was CHF224,141 Mil. TotalEnergies SE's operating liabilities for the quarter that ended in Mar. 2026 was CHF98,662 Mil. TotalEnergies SE's Total Assets for the quarter that ended in Dec. 2025 was CHF231,942 Mil. Therefore, TotalEnergies SE's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.54.
TotalEnergies SE Scaled Net Operating Assets Related Terms
TotalEnergies SE Scaled Net Operating Assets Historical Data
* Premium members only.
The historical data trend for TotalEnergies SE's Scaled Net Operating Assets 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.
TotalEnergies SE Scaled Net Operating Assets Chart
XSWX:TTE vs XOM, CVX: Scaled Net Operating Assets Comparison
For the Oil & Gas Integrated subindustry, TotalEnergies SE's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, TotalEnergies SE's Scaled Net Operating Assets distribution charts can be found below:
* The bar in red indicates where TotalEnergies SE's Scaled Net Operating Assets 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.
What does a Scaled Net Operating Assets of 0.54 mean?
TotalEnergies SE (XSWX:TTE) has a Scaled Net Operating Assets of 0.54 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on TotalEnergies SE and its competitors.
Is TotalEnergies SE's Scaled Net Operating Assets too high?
TotalEnergies SE's current Scaled Net Operating Assets is 0.54. Overall, TotalEnergies SE has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TotalEnergies SE's Scaled Net Operating Assets compare to XOM and CVX?
TotalEnergies SE's Scaled Net Operating Assets of 0.54 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 Scaled Net Operating Assets for an Oil & Gas company?
A good Scaled Net Operating Assets depends on the Oil & Gas industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on TotalEnergies SE and its competitors. TotalEnergies SE's current Scaled Net Operating Assets is 0.54. 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?
Based on GuruFocus' analysis, TotalEnergies SE (XSWX:TTE) is currently considered Modestly Overvalued. The stock's GF Value™ is CHF54.40, compared to a current price of CHF66.42 — trading 22.1% above its estimated fair value. The current Scaled Net Operating Assets is 0.54. TotalEnergies SE's overall GF Score™ is 70/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For TotalEnergies SE (XSWX:TTE), the current Scaled Net Operating Assets is 0.54 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 (XSWX:TTE) Overvalued in 2026?
Based on GuruFocus' analysis, TotalEnergies SE stock appears to be overvalued.
The current stock price of CHF66.42 is trading 22.1% above its estimated GF Value™ of CHF54.40.
GuruFocus considers TotalEnergies SE to be Modestly Overvalued.
Key valuation signals for XSWX:TTE:
Scaled Net Operating Assets: 0.54
GF Value™: CHF54.40 vs. price of CHF66.42 (22.1% above fair value)
No single metric tells the full story. See the XSWX:TTE 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.
70GF Score
Get the complete analysis for XSWX:TTE
Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:TTE has been successfully added to your 
