TotalEnergies stock stays supported by earnings and cash flow

TotalEnergies stock is anchored by a EUR 19.8 billion net profit in 2024, EUR 26.9 billion in adjusted EBITDA, and a Paris market price of EUR 53.44 as of 22 July 2026. The French group TotalEnergies SE (ISIN FR0000120271) reported those 2024 figures in its annual results and its shares closed around that level on Euronext Paris, giving investors a dated view of both profitability and valuation.

EUR 19.8 billion profit

The 2024 net profit of EUR 19.8 billion marked a clear comparison with the prior year, when TotalEnergies reported EUR 23.0 billion in net profit. Adjusted EBITDA reached EUR 26.9 billion in 2024, while cash flow from operations was EUR 29.7 billion, according to the company report and investor materials. Those are the numbers that matter most when the market weighs the energy group against its European peers.

For a stock priced at EUR 53.44 on 22 July 2026, the balance between earnings power and cash generation remains the key investment lens. The 2024 result also included a dividend of EUR 3.22 per share, keeping shareholder returns firmly tied to the group’s upstream, LNG, and integrated power mix.

Cash flow still leads

TotalEnergies said 2024 capital expenditure was USD 17.9 billion, while net operating cash flow reached USD 29.7 billion. That spread between spending and cash generation supports the company’s ability to keep funding projects, dividends, and buybacks without leaning only on commodity prices.

The same report showed hydrocarbons and LNG still doing the heavy lifting in the earnings mix. In practical market terms, that means the shares remain more sensitive to crude, gas, and refining margins than to short-term sentiment.

Paris valuation point

The stock price of EUR 53.44 on 22 July 2026 gives TotalEnergies a concrete valuation reference for international investors following Euronext Paris. At that level, the market is still pricing the company against a 2024 earnings base that was smaller than the prior year but still large by European energy standards.

That combination of EUR 19.8 billion net profit, EUR 26.9 billion adjusted EBITDA, and EUR 29.7 billion operating cash flow creates the clearest frame for reading the share. The figure set is especially relevant because it ties current valuation to the latest full-year operating performance rather than to a headline-only price move.

Upstream and LNG mix

TotalEnergies’ portfolio still depends heavily on upstream hydrocarbons, LNG, and power. The company’s 2024 reporting also highlighted a production base that kept the group among the largest integrated energy names in Europe, with the report framing LNG and hydrocarbons as core contributors to cash generation.

That matters because the mix explains why the stock often trades on commodity durability as much as on broader market sentiment. The same diversified structure also leaves room for capital returns when free cash flow stays above investment needs.

Share price context

TotalEnergies stock traded at EUR 53.44 on 22 July 2026 in Paris. The combination of that price with EUR 19.8 billion in 2024 net profit and EUR 29.7 billion in operating cash flow keeps the equity tied to one simple test: whether cash generation can stay ahead of spending and distributions.

The next reading point for the market is whether the company can preserve that cash profile through the next reporting cycle. For now, the latest full-year numbers still show a group with scale, strong cash conversion, and a dividend record that remains central to the equity story.

Refining and marketing

The refining and marketing division remains one of the most visible product-facing parts of the group, even though it is not the main earnings engine in every cycle. The more decisive support still comes from upstream and LNG, where the 2024 report showed the strongest cash contribution.

That structure matters for investors because it ties the stock to the durability of energy spreads and project execution rather than to a single product line. The company’s integrated model is still the main reason TotalEnergies can combine large capex with large distributions.

Market close

TotalEnergies stock closed at EUR 53.44 on 22 July 2026, measured in Paris trading. The price sits alongside the company’s latest full-year figures of EUR 19.8 billion net profit, EUR 26.9 billion adjusted EBITDA, and EUR 29.7 billion operating cash flow, all of which remain the key reference points for the shares.