EQNR

Equinor ASA
D

EQNR

Arincen62/100B

If you had invested in Equinor ASA ago, it would be worth $4,777 today, against $4,128 in SPY and $6,186 in QQQ.

ArincenArincen ScoreBeta

62/100

Six parts of the company, five checks each, from its own reported figures. A part scores the checks it passes out of 10; the score is their average out of 100.

Profitability2

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Cash6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Valuation7.5

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Growth7.5

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Financial strength6

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Shareholders8

Plus shows the checks behind each part of the score, what passed, what failed and the figure it read, for every stock.

Figures to FY2025; the price as of today.

Equinor ASA key facts

Style
Value stock · 8.7/10Growth 6.9 · Value 8.7 · Dividend 7.6
Day range
41.610 – 42.390
52-week range
22.260 – 49.080
Market capitalization
104.49B USD
P/E
8.71
PEG ratio
0.63
EPS
4.82
Div Yield
3.71%
EPS growth forecast (FY2026)
+136.7%
Volume
40
Beta
-0.66
ESG score
58.3/100Environment 64 · Social 59 · Governance 53
Sector
Energy
Industry
Oil & Gas Integrated
CEO
Anders Opedal
Employees
24K
IPO date
18 Jun 2001

Equinor ASA earnings

Next earnings · Q4 FY2026
EPS estimate
1.92 USD
Revenue estimate
39.48B USD
Last quarter · Q3 FY2026
EPS1.20Missed -13.0%Revenue33.19BMissed -0.3%

Revenue

ReportedEstimate

EPS

ReportedEstimate
PeriodReport dateEPS estimateReported EPSSurpriseEPS growthRevenue estimateReported revenueSurpriseRevenue growth
Q4 FY20261.92——+137.04%39.48B——+56.07%
Q3 FY20261.381.20-13.04%+224.32%33.30B33.19B-0.34%+27.57%
Q2 FY20261.391.33-4.32%+107.81%34.03B34.52B+1.46%+36.51%
Q1 FY20261.011.48+46.53%+124.24%28.73B27.84B-3.08%-5.24%
Q4 FY20250.600.81+35.00%+28.57%22.06B25.30B+14.67%-4.67%
Q3 FY20250.570.37-35.09%-53.16%21.36B26.02B+21.79%+2.36%
Q2 FY20250.660.64-3.03%-23.81%23.26B25.29B+8.71%-0.67%

Equinor ASA analyst forecast

12-month price target
87.50 USD
+108.36%

Analysts' 1-year price targets range from 85.00 to 90.00, with an average of 87.50.

Past year
1-year forecast
Strong sellStrong buy
Hold
1 ratings
Buy
0
Hold
1
Sell
0

12-month price target

Highest target90.00
Average target87.50
Lowest target85.00
Current price42.00

Equinor ASA valuation

Price to earnings ratio (TTM)
8.71
Forward P/E (FY2026)
7.15
Price to sales (TTM)
0.87
Price to book
2.33
EV / EBITDA (TTM)
2.10

Capital structure

Market capitalization
104.49B USD
+
Total debt
29.66B USD
−
Cash and short-term investments
24.00B USD
=
Enterprise value
110.16B USD

Valuation over time

P/EForward P/EForward P/E · EstimateEstimate
Fiscal yearP/EForward P/EP/SP/BEV/EBITDA
FY2028 (est.)11.27————
FY2027 (est.)8.6011.27———
FY2026 (est.)7.158.60———
Now (TTM)8.718.360.872.332.10
FY202512.124.030.581.522.46
FY20247.599.580.651.582.12
FY20238.059.580.891.972.35
FY20223.959.360.762.111.58
FY20219.975.530.962.192.54

Equinor ASA against its own history

Each figure in the latest fiscal year against the same figure from FY2021 to FY2025: the range, its median (the line) and the latest (the dot, green on the good side of the median). The P/E is today's against its daily readings of five years.

Its peers: Marathon Petroleum, Valero Energy, Phillips 66, The Williams Companies, Enterprise Products Partners L.P., and EOG Resources, the US Energy companies closest to it in size, each in its own latest fiscal year: their median (the line) and its rank among them, first being the best.

  • P/E (today)Above its median8.7
    2.740.1
  • Gross marginLowest in 5 years26.8%
    26.8%59.6%
    Against its peers: 3 of 7Peers' median 10.6%
  • Operating marginLowest in 5 years25.7%
    25.7%52.9%
    Against its peers: 3 of 7Peers' median 8.7%
  • Net marginLowest in 5 years4.8%
    4.8%19.3%
    Against its peers: 4 of 7Peers' median 7.2%
  • Return on equityLowest in 5 years12.5%
    12.5%53.2%
    Against its peers: 6 of 7Peers' median 18.1%
  • Free cash flow marginLowest in 5 years5.6%
    5.6%23.4%
    Against its peers: 4 of 7Peers' median 4.9%
  • Revenue growthAt its median3.6%
    -28.3%94.0%
    Against its peers: 2 of 7Peers' median -5.0%
  • EPS growthBelow its median-37.3%
    -56.5%243.3%
    Against its peers: 7 of 7Peers' median 8.2%
  • Debt to EBITDAHighest in 5 years0.92×
    0.37×0.92×
    Against its peers: 2 of 7Peers' median 2.65×
  • Current ratioLowest in 5 years1.24
    1.241.78
    Against its peers: 5 of 7Peers' median 1.28

Peers: US companies of the same industry (of its sector when the industry has too few) from a tenth to ten times its market value, the six closest in size. Updated weekly.

Equinor ASA growth and profitability

Revenue (TTM)
120.54B USD
Net income (TTM)
11.80B USD
Gross margin
41.43%
Operating margin
32.81%
Net margin
9.79%

Revenue / Net income

Revenue Net income Net margin
PeriodRevenueGrowthNet incomeGrowthGross marginOperating marginNet marginEBITDAGrowth
FY2025106.16B+3.56%5.06B-42.55%26.84%25.70%4.77%36.46B-13.09%
FY2024102.50B-4.07%8.81B-25.91%41.59%30.17%8.59%41.95B-16.42%
FY2023106.85B-28.29%11.89B-58.66%44.96%33.48%11.12%50.19B-41.82%
FY2022149.00B+67.90%28.75B+235.70%59.60%52.89%19.29%86.27B+99.68%
FY202188.74B+93.96%8.56B—47.18%37.93%9.65%43.20B+261.37%

Equinor ASA revenue breakdown

By product

FY2025
Crude oil: 55.5%Natural gas: 24.0%Refined products: 9.9%Natural gas liquids: 6.7%Power: 2.0%Transportation: 1.2%Other sales: 0.7%55.5%Crude oil24.0%Natural gas9.9%Refined products6.7%Natural gas liquids2.0%Power1.2%Transportation
SegmentRevenueShare of revenueChange on the year
Crude oil58.40B55.5%+2.7%
Natural gas25.29B24.0%-4.2%
Refined products10.38B9.9%+2.9%
Natural gas liquids7.04B6.7%-69.6%
Power2.10B2.0%—
Transportation1.26B1.2%—
Other sales778.00M0.7%—

How Equinor ASA makes its money

Crude oil58.40B 55.0%
Natural gas25.29B 23.8%
Refined products10.38B 9.8%
Natural gas liquids7.04B 6.6%
Power2.10B 2.0%
Transportation1.26B 1.2%
Other sales778.00M 0.7%
Revenue106.16B 100.0%
Cost of revenue77.66B 73.2%
Gross profit28.50B 26.8%
Selling and administration1.21B 1.1%
Operating income27.28B 25.7%
Tax20.09B 18.9%
Other expense2.13B 2.0%
Net income5.06B 4.8%

FY2025, in USD. Each band is as wide as its money; the percentage is its share of revenue.

Equinor ASA dividends

Annual dividend
1.56 USD
Dividend yield (indicated)
3.71%
Payout ratio
39.63%
Years of dividend growth
1
Frequency
Quarterly
Next payment
0.39 USD
Next ex-dividend date
16 Nov 2026
Next payment date
25 Nov 2026

Dividends per share

Year2025202220212020201920182017201620152014
Dividends per share1.110.580.560.711.011.140.880.880.901.72

Equinor ASA financial health

Cash and short-term investments
24.00B USD
Total debt
29.66B USD
Net cash
-5.67B USD
Free cash flow (TTM)
11.31B USD
Current ratio
1.18
Debt to equity
0.66
Piotroski score
8 / 9
Altman Z-score
2.94

Cash, debt and free cash flow

Cash and short-term investments Total debt Free cash flow
Fiscal yearCash and short-term investmentsTotal debtFree cash flow
FY202519.33B33.44B5.93B
FY202423.46B30.09B7.93B
FY202338.87B31.80B14.13B
FY202239.31B32.17B26.38B
FY202133.28B36.24B20.78B

Equinor ASA ownership

Institutions
7.02%
Institutional holders
444 (-9)
Free float
24.51%

Who owns the shares

Institutions 7.0% Others 93.0%
As of 30 Jun 2026

Shares free to trade

Free float 609.85M shares ·24.5% Closely held 1.88B shares ·75.5%

Closely held shares belong to insiders, founders and owners of more than 5%, and seldom change hands. The free float is the rest: the shares anyone can buy and sell.

Shares outstanding

Basic shares Diluted shares Change in diluted shares
Fiscal yearBasic sharesDiluted sharesChange in diluted shares
FY20252.59B2.60B-7.99%
FY20242.82B2.83B-6.61%
FY20233.02B3.03B-4.90%
FY20223.17B3.18B-2.18%
FY20213.25B3.25B-0.46%

Source: Financial Modeling Prep

Related Instruments

Title: Equinor ASA

Sector: Energy
Industry: Oil & Gas Integrated
Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2025 (50% liquids) and ended 2025 with 5.2 billion barrels of proven reserves (45% liquids). Operations also include oil refineries and natural gas processing, marketing, and trading. The renewables portfolio includes offshore and onshore wind and solar, with total power generation of 5.65 TWh in 2025.

Common questions about Equinor ASA stock

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