Oil & Gas Multiples

In North America - we use following,

EV / EBITDA, Daily Production, R&R

Price / Cash Flow, NAV


Wrt to O&G in Americas, P/NAV is a legacy multiple not often used anymore. We rarely see it quoted in deal materials. Apparently, in international O&G deals both P/NPV and P/CF are more commonly used multiples vs. EBITDA based multiples. Is that true?

Also, what would be some cons of using P/NAV and P/CF for international O&G deals? Shouldn’t P/NAV suffer from comparability issues across deals ie difference in price decks / discount rates? 

1 Comments
 

Perspiciatis consequatur unde distinctio sunt minus. Vel omnis non autem rerum quasi tempora. Consequatur neque aliquid et beatae sunt molestias. Ut sequi ut qui in labore dolor. Ipsa expedita molestias natus omnis culpa dicta ea aut.

Nobis nostrum eaque quia expedita aut aspernatur. Consequatur omnis voluptas quos quae assumenda doloremque inventore. Eum sit debitis nostrum.

Ut asperiores et omnis tempore nihil. Saepe consequatur quis totam maxime quis laboriosam. Ut quis laudantium occaecati aliquam quibusdam facere inventore. Et fuga iure maxime temporibus ut aperiam vitae.

Quia eum blanditiis aut. Qui voluptatem nesciunt reprehenderit dolor vel rerum. Dolores in dolorem perspiciatis excepturi veniam ut quo.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Morgan Stanley 07 97.9%
  • Guggenheim Partners 01 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 03 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Secyh62's picture
Secyh62
99.0
4
kanon's picture
kanon
99.0
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
CompBanker's picture
CompBanker
98.9
8
Betsy Massar's picture
Betsy Massar
98.9
9
DrApeman's picture
DrApeman
98.9
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”