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TotalEnergies SE cash flow, quarter by quarter

Latest: Q2 2025 · from the cash-flow statements filed with the SEC

Free cash flow$6.0B in Q2 2025

Operating cash flow$6.0B
Free cash flow+$6.0B
Cash / net income2.2×

Analysis

In Q2 2025, TotalEnergies SE generated $6.0B of operating cash flow. That is $3.0B less than in Q2 2024 ($9.0B).

Operating cash flow was $6.0B against net income of $2.7B — 2.2× profit, cash ran ahead of reported earnings.

Free cash flow

TotalEnergies SE: free cash flow by quarterTotalEnergies SE: free cash flow by quarter$7.6BQ1 2022$16.3BQ2 2022$5.1BQ1 2023$9.9BQ2 2023$2.2BQ1 2024$9.0BQ2 2024$2.6BQ1 2025$6.0BQ2 2025
Operating cash flow less capital spending.
TotalEnergies SE: operating cash flow against capital spendingTotalEnergies SE: operating cash flow against capital spendingOperating cash flowCapital spending$7.6B$0Q1 2022$16.3B$0Q2 2022$5.1B$0Q1 2023$9.9B$0Q2 2023$2.2B$0Q1 2024$9.0B$0Q2 2024$2.6B$0Q1 2025$6.0B$0Q2 2025
Latest (Q2 2025): Operating cash flow $6.0B, Capital spending $0.

Capital allocation, year by year

TotalEnergies SE: where the cash came from (up) and went (down), by fiscal yearTotalEnergies SE: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $30.4BFY2021: Net borrowing −$359MFY2021: Acquisitions −$321MFY2021: Buybacks −$1.8BFY2021: Dividends −$8.2B$30.4BFY2021FY2022: Operating cash flow $47.4BFY2022: Net borrowing $1.1BFY2022: Acquisitions −$94.0MFY2022: Buybacks −$7.7BFY2022: Dividends −$10.0B$48.5BFY2022FY2023: Operating cash flow $40.7BFY2023: Net borrowing $130MFY2023: Acquisitions −$1.8BFY2023: Buybacks −$9.2BFY2023: Dividends −$7.5B$40.8BFY2023FY2024: Operating cash flow $30.9BFY2024: Net borrowing $7.5BFY2024: Acquisitions −$2.4BFY2024: Buybacks −$8.0BFY2024: Dividends −$7.7B$38.4BFY2024FY2025: Operating cash flow $27.3BFY2025: Net borrowing $8.0BFY2025: Acquisitions −$2.0BFY2025: Buybacks −$7.7BFY2025: Dividends −$8.1B$35.3BFY2025
Over these 5 years operating cash flow totalled $176.7B; the largest uses were dividends ($41.6B) and buybacks ($34.4B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$15.6B
Debtnone
Net cash$15.6B

TotalEnergies SE funds itself: free cash flow was — over the last twelve months, with $15.6B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

TotalEnergies SE: sources (+) and uses (−) of cash, Q2 2025TotalEnergies SE: sources (+) and uses (−) of cash, Q2 2025Operating cash flow$6.0BOther investing−$5.1BCash drawn (+) / kept (−)$2.4BDividends−$1.9BBuybacks−$1.7BAcquisitions−$1.6BOther financing$1.4BExchange rates$468M

Every quarter

QuarterOperating cash flowAcquisitionsBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q2 2025$6.0B−$1.6B−$1.7B−$1.9B$2.4B$6.0B
Q1 2025$2.6B−$232M−$2.2B−$1.9B$3.0B$2.6B
Q2 2024$9.0B−$251M−$2.0B−$1.9B$2.4B$9.0B
Q1 2024$2.2B−$759M−$2.0B−$1.9B$1.6B$2.2B
Q2 2023$9.9B−$19.0M−$2.0B−$1.8B$2.4B$9.9B
Q1 2023$5.1B−$136M−$2.1B−$1.8B$5.0B$5.1B
Q2 2022$16.3B−$82.0M−$2.0B−$1.8B−$1.6B$16.3B
Q1 2022$7.6B—−$1.2B−$1.9B−$9.9B$7.6B

TotalEnergies SE: income statement and cash flow

TotalEnergies SE, Q2 2026: revenue $61.8B (+14% year over year), operating margin 3.8%. The chart follows the revenue to costs, profit and cash.

TotalEnergies SE: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.