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Q4 FY2026 · Earnings report
EPS estimate 1.92Revenue estimate 39.48B
Q4 FY2026 · Earnings report
EPS estimate 1.92Revenue estimate 39.48B
Equinor ASA free cash flow 1998–2026What is free cash flow (FCF)? Free cash flow is the cash a company's operations bring in minus what it spends on long-term assets (capex): cash left for debt, dividends and buybacks.
Equinor ASA's free cash flow in Q3 FY2026, the three months to 30 September 2026, was 4.68B USD, up 59.7% on the same quarter a year before. Equinor ASA's free cash flow over the last twelve months was 11.31B USD, up 65.7% on the twelve months before. In fiscal year 2025 it was 5.93B USD, down 25.2% on the year before.
Last updated 7 Nov 2026 · Next report 3 Feb 2027
Free cash flow
Free cash flow Free cash flow margin
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 30 Sept 2026 | 11.31B | +65.70% | 9.39% | 24.32B | -13.01B | 4.60 |
| FY2025 | 31 Dec 2025 | 5.93B | -25.20% | 5.59% | 19.97B | -14.04B | 2.28 |
| FY2024 | 31 Dec 2024 | 7.93B | -43.84% | 7.74% | 20.11B | -12.18B | 2.81 |
| FY2023 | 31 Dec 2023 | 14.13B | -46.45% | 13.22% | 24.70B | -10.58B | 4.67 |
| FY2022 | 31 Dec 2022 | 26.38B | +26.96% | 17.70% | 35.14B | -8.76B | 8.29 |
| FY2021 | 31 Dec 2021 | 20.78B | +987.75% | 23.41% | 28.82B | -8.04B | 6.38 |
| FY2020 | 31 Dec 2020 | 1.91B | -46.12% | 4.17% | 10.39B | -8.48B | 0.58 |
| FY2019 | 31 Dec 2019 | 3.55B | -57.43% | 5.63% | 13.75B | -10.20B | 1.06 |
| FY2018 | 31 Dec 2018 | 8.33B | +130.79% | 10.57% | 19.69B | -11.37B | 2.50 |
| FY2017 | 31 Dec 2017 | 3.61B | — | 5.92% | 14.36B | -10.76B | 1.10 |
| FY2016 | 31 Dec 2016 | -3.16B | — | -6.91% | 9.03B | -12.19B | -0.99 |
| FY2015 | 31 Dec 2015 | -1.79B | -440.48% | -3.10% | 12.40B | -14.19B | -0.56 |
| FY2014 | 31 Dec 2014 | 524.56M | — | 0.55% | 17.01B | -16.49B | 0.16 |
| FY2013 | 31 Dec 2013 | -1.97B | -170.55% | -1.88% | 16.66B | -18.63B | -0.62 |
| FY2012 | 31 Dec 2012 | 2.80B | -13.22% | 2.31% | 22.93B | -20.13B | 0.88 |
| FY2011 | 31 Dec 2011 | 3.22B | +647.09% | 2.80% | 18.67B | -15.45B | 1.01 |
| FY2010 | 31 Dec 2010 | 431.37M | — | 0.50% | 13.75B | -13.32B | 0.14 |
| FY2009 | 31 Dec 2009 | -370.84M | -107.78% | -0.50% | 12.60B | -12.97B | -0.12 |
| FY2008 | 31 Dec 2008 | 4.77B | +12.80% | 4.13% | 14.73B | -9.97B | 1.50 |
| FY2007 | 31 Dec 2007 | 4.23B | +38.88% | 4.66% | 17.29B | -13.07B | 1.32 |
| FY2006 | 31 Dec 2006 | 3.04B | -17.35% | 3.76% | 9.77B | -6.73B | 1.41 |
| FY2005 | 31 Dec 2005 | 3.68B | +217.14% | 6.17% | 8.33B | -4.65B | 1.70 |
| FY2004 | 31 Dec 2004 | 1.16B | -11.51% | 2.58% | 6.43B | -5.27B | 0.54 |
| FY2003 | 31 Dec 2003 | 1.31B | +49.09% | 3.50% | 4.63B | -3.32B | 0.61 |
| FY2002 | 31 Dec 2002 | 880.00M | -64.90% | 2.51% | 3.46B | -2.58B | 0.41 |
| FY2001 | 31 Dec 2001 | 2.51B | -43.68% | 9.75% | 4.36B | -1.85B | 1.16 |
| FY2000 | 31 Dec 2000 | 4.45B | — | 17.12% | 6.40B | -1.95B | 2.26 |
| FY1999 | 31 Dec 1999 | -694.46M | — | -3.98% | 2.52B | -3.21B | -0.35 |
| FY1998 | 31 Dec 1998 | -1.59B | — | -11.43% | 1.32B | -2.91B | -0.81 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 4.68B | +59.66% | 14.19% | 7.55B | -2.87B | 1.96 |
| Q2 FY2026 | 30 Jun 2026 | 6.60B | — | 19.11% | 9.47B | -2.87B | 2.71 |
| Q1 FY2026 | 31 Mar 2026 | 2.10B | -65.13% | 7.54% | 5.21B | -3.12B | 0.84 |
| Q4 FY2025 | 31 Dec 2025 | -2.06B | — | -8.14% | 2.09B | -4.15B | -0.82 |
| Q3 FY2025 | 29 Sept 2025 | 2.93B | -25.95% | 11.25% | 6.35B | -3.42B | 1.11 |
| Q2 FY2025 | 30 Jun 2025 | -889.81M | — | -3.54% | 2.55B | -3.44B | -0.34 |
| Q1 FY2025 | 31 Mar 2025 | 6.01B | -8.01% | 20.47% | 9.04B | -3.03B | 2.13 |
| Q4 FY2024 | 31 Dec 2024 | -1.23B | — | -4.62% | 2.42B | -3.65B | -0.45 |
| Q3 FY2024 | 30 Sept 2024 | 3.95B | +53.03% | 15.56% | 7.05B | -3.10B | 1.43 |
| Q2 FY2024 | 30 Jun 2024 | -1.14B | — | -4.47% | 1.81B | -2.95B | -0.40 |
| Q1 FY2024 | 31 Mar 2024 | 6.54B | -47.98% | 26.06% | 9.02B | -2.48B | 2.22 |
| Q4 FY2023 | 31 Dec 2023 | -294.00M | -115.55% | -1.02% | 2.74B | -3.03B | -0.10 |
| Q3 FY2023 | 30 Sept 2023 | 2.58B | -42.90% | 9.97% | 5.24B | -2.65B | 0.87 |
| Q2 FY2023 | 30 Jun 2023 | -985.00M | -114.47% | -4.31% | 1.86B | -2.84B | -0.32 |
| Q1 FY2023 | 31 Mar 2023 | 12.57B | -7.51% | 43.02% | 14.87B | -2.30B | 4.02 |
| Q4 FY2022 | 31 Dec 2022 | 1.89B | -67.48% | 5.59% | 4.27B | -2.38B | 0.60 |
| Q3 FY2022 | 30 Sept 2022 | 4.53B | -25.51% | 10.59% | 6.58B | -2.05B | 1.43 |
| Q2 FY2022 | 30 Jun 2022 | 6.81B | +39.03% | 18.71% | 8.52B | -1.71B | 2.13 |
| Q1 FY2022 | 31 Mar 2022 | 13.59B | +254.53% | 37.69% | 15.77B | -2.18B | 4.20 |
| Q4 FY2021 | 31 Dec 2021 | 5.81B | — | 18.10% | 8.15B | -2.34B | 1.79 |
| Q3 FY2021 | 30 Sept 2021 | 6.08B | +568.32% | 26.29% | 8.04B | -1.96B | 1.87 |
| Q2 FY2021 | 30 Jun 2021 | 4.90B | — | 28.17% | 6.64B | -1.75B | 1.50 |
| Q1 FY2021 | 31 Mar 2021 | 3.83B | +42.33% | 23.77% | 5.98B | -2.15B | 1.18 |
| Q4 FY2020 | 31 Dec 2020 | -161.00M | — | -1.36% | 2.34B | -2.50B | -0.05 |
| Q3 FY2020 | 30 Sept 2020 | 909.00M | -41.09% | 8.08% | 2.63B | -1.72B | 0.28 |
| Q2 FY2020 | 30 Jun 2020 | -1.53B | — | -20.24% | 368.00M | -1.90B | -0.47 |
| Q1 FY2020 | 31 Mar 2020 | 2.69B | -13.16% | 17.88% | 5.04B | -2.35B | 0.81 |
| Q4 FY2019 | 31 Dec 2019 | -926.00M | -176.53% | -6.21% | 1.77B | -2.70B | -0.28 |
| Q3 FY2019 | 30 Sept 2019 | 1.54B | -34.17% | 11.46% | 4.18B | -2.64B | 0.46 |
| Q2 FY2019 | 30 Jun 2019 | -173.00M | -175.88% | -1.03% | 2.66B | -2.83B | -0.05 |
| Q1 FY2019 | 31 Mar 2019 | 3.10B | -7.21% | 19.75% | 5.13B | -2.03B | 0.93 |
| Q4 FY2018 | 31 Dec 2018 | 1.21B | — | 6.05% | 4.20B | -2.99B | 0.36 |
| Q3 FY2018 | 30 Sept 2018 | 2.34B | +1,586.33% | 12.06% | 5.42B | -3.07B | 0.70 |
| Q2 FY2018 | 30 Jun 2018 | 228.00M | -85.89% | 1.23% | 3.00B | -2.77B | 0.07 |
| Q1 FY2018 | 31 Mar 2018 | 3.34B | -6.99% | 16.81% | 5.72B | -2.38B | 1.01 |
| Q4 FY2017 | 31 Dec 2017 | -1.74B | — | -10.16% | 1.66B | -3.40B | -0.52 |
| Q3 FY2017 | 30 Sept 2017 | 139.00M | -86.13% | 1.03% | 2.77B | -2.63B | 0.04 |
| Q2 FY2017 | 30 Jun 2017 | 1.62B | — | 10.87% | 3.96B | -2.35B | 0.50 |
| Q1 FY2017 | 31 Mar 2017 | 3.59B | — | 23.23% | 5.97B | -2.38B | 1.11 |
| Q4 FY2016 | 31 Dec 2016 | -1.79B | — | -14.11% | 2.03B | -3.82B | -0.56 |
| Q3 FY2016 | 30 Sept 2016 | 1.00B | -10.62% | 8.29% | 3.66B | -2.66B | 0.31 |
| Q2 FY2016 | 30 Jun 2016 | -1.75B | — | -16.20% | 1.14B | -2.90B | -0.55 |
| Q1 FY2016 | 31 Mar 2016 | -616.00M | — | -6.11% | 2.21B | -2.82B | -0.19 |
| Q4 FY2015 | 31 Dec 2015 | -978.34M | — | -7.88% | 2.14B | -3.12B | -0.31 |
| Q3 FY2015 | 30 Sept 2015 | 1.12B | +3,512.86% | 8.47% | 4.98B | -3.86B | 0.35 |
| Q2 FY2015 | 30 Jun 2015 | -1.89B | — | -11.98% | 2.40B | -4.30B | -0.60 |
| Q1 FY2015 | 31 Mar 2015 | -199.56M | -104.56% | -1.34% | 3.63B | -3.83B | -0.06 |
| Q4 FY2014 | 31 Dec 2014 | -780.11M | — | -3.95% | 3.67B | -4.45B | -0.25 |
| Q3 FY2014 | 30 Sept 2014 | 31.03M | -98.78% | 0.14% | 4.05B | -4.02B | 0.01 |
| Q2 FY2014 | 30 Jun 2014 | -2.36B | — | -10.17% | 2.95B | -5.32B | -0.74 |
| Q1 FY2014 | 31 Mar 2014 | 4.38B | +137.32% | 15.48% | 9.16B | -4.78B | 1.37 |
| Q4 FY2013 | 31 Dec 2013 | -2.42B | -197.26% | -9.97% | 2.22B | -4.65B | -0.76 |
| Q3 FY2013 | 30 Sept 2013 | 2.55B | +117.95% | 9.41% | 6.69B | -4.14B | 0.80 |
| Q2 FY2013 | 30 Jun 2013 | -3.77B | -471.14% | -15.49% | 1.35B | -5.12B | -1.18 |
| Q1 FY2013 | 31 Mar 2013 | 1.85B | — | 6.66% | 6.54B | -4.70B | 0.58 |
| Q4 FY2012 | 31 Dec 2012 | 2.49B | +242.22% | 8.74% | 8.27B | -5.78B | 0.78 |
| Q3 FY2012 | 30 Sept 2012 | 1.17B | — | 4.02% | 6.53B | -5.36B | 0.37 |
| Q2 FY2012 | 30 Jun 2012 | 1.02B | -58.24% | 3.02% | 4.76B | -3.75B | 0.32 |
| Q1 FY2012 | 31 Mar 2012 | -1.88B | -971.56% | -5.50% | 3.36B | -5.24B | -0.59 |
| Q4 FY2011 | 31 Dec 2011 | 727.83M | — | 2.57% | 5.27B | -4.54B | 0.23 |
| Q3 FY2011 | 30 Sept 2011 | -152.57M | -143.85% | -0.53% | 3.42B | -3.58B | -0.05 |
| Q2 FY2011 | 30 Jun 2011 | 2.43B | +246.06% | 7.76% | 6.34B | -3.90B | 0.76 |
| Q1 FY2011 | 31 Mar 2011 | 215.79M | -72.00% | 0.80% | 3.64B | -3.43B | 0.07 |
| Q4 FY2010 | 31 Dec 2010 | -1.39B | — | -5.82% | 2.23B | -3.62B | -0.44 |
| Q3 FY2010 | 30 Sept 2010 | 347.98M | -57.05% | 1.60% | 4.16B | -3.81B | 0.11 |
| Q2 FY2010 | 30 Jun 2010 | 702.68M | -59.41% | 3.54% | 3.27B | -2.56B | 0.22 |
| Q1 FY2010 | 31 Mar 2010 | 770.71M | — | 3.56% | 4.09B | -3.32B | 0.24 |
| Q4 FY2009 | 31 Dec 2009 | -1.05B | — | -4.97% | 1.99B | -3.05B | -0.33 |
| Q3 FY2009 | 30 Sept 2009 | 810.13M | -63.66% | 3.80% | 4.59B | -3.78B | 0.25 |
| Q2 FY2009 | 30 Jun 2009 | 1.73B | -20.40% | 10.58% | 4.80B | -3.07B | 0.54 |
| Q1 FY2009 | 31 Mar 2009 | -1.72B | -160.54% | -10.28% | 1.22B | -2.94B | -0.54 |
| Q4 FY2008 | 31 Dec 2008 | -2.48B | — | -30.15% | 561.00M | -3.04B | -0.78 |
| Q3 FY2008 | 30 Sept 2008 | 2.23B | -31.20% | 7.53% | 3.88B | -1.65B | 0.70 |
| Q2 FY2008 | 30 Jun 2008 | 2.18B | +187.32% | 6.49% | 5.02B | -2.85B | 0.68 |
| Q1 FY2008 | 31 Mar 2008 | 2.84B | +71.66% | 9.18% | 5.27B | -2.43B | 0.89 |
| Q4 FY2007 | 31 Dec 2007 | -1.43B | — | -3.85% | 4.99B | -6.42B | -0.45 |
| Q3 FY2007 | 30 Sept 2007 | 3.24B | +236.45% | 15.95% | 6.04B | -2.80B | 1.01 |
| Q2 FY2007 | 30 Jun 2007 | 757.00M | -50.56% | 4.10% | 2.12B | -1.36B | 0.24 |
| Q1 FY2007 | 31 Mar 2007 | 1.66B | +2.41% | 10.01% | 4.15B | -2.49B | 0.77 |
| Q4 FY2006 | 31 Dec 2006 | -1.07B | — | -5.66% | 1.76B | -2.82B | -0.49 |
| Q3 FY2006 | 30 Sept 2006 | 963.00M | -34.00% | 5.90% | 2.35B | -1.39B | 0.45 |
| Q2 FY2006 | 30 Jun 2006 | 1.53B | — | 8.98% | 2.86B | -1.33B | 0.71 |
| Q1 FY2006 | 31 Mar 2006 | 1.62B | -6.64% | 9.71% | 2.81B | -1.19B | 0.75 |
| Q4 FY2005 | 31 Dec 2005 | — | — | — | -254.00M | — | — |
| Q3 FY2005 | 30 Sept 2005 | 1.46B | +25.56% | 9.11% | 2.61B | -1.15B | 0.67 |
| Q2 FY2005 | 30 Jun 2005 | -145.00M | — | -1.02% | 3.07B | -3.21B | -0.07 |
| Q1 FY2005 | 31 Mar 2005 | 1.73B | -20.38% | 12.97% | 2.91B | -1.18B | 0.80 |
| Q4 FY2004 | 31 Dec 2004 | -1.77B | — | -9.96% | -172.00M | -1.60B | -0.82 |
| Q3 FY2004 | 30 Sept 2004 | 1.16B | -27.28% | 9.42% | 2.79B | -1.63B | 0.54 |
| Q2 FY2004 | 30 Jun 2004 | -401.00M | — | -3.91% | 839.00M | -1.24B | -0.19 |
| Q1 FY2004 | 31 Mar 2004 | 2.17B | +32.08% | 22.35% | 2.97B | -796.00M | 1.00 |
| Q4 FY2003 | 31 Dec 2003 | -1.31B | — | -11.66% | -304.00M | -1.01B | -0.61 |
| Q3 FY2003 | 30 Sept 2003 | 1.60B | +29.81% | 17.87% | 2.49B | -890.00M | 0.74 |
| Q2 FY2003 | 30 Jun 2003 | -620.00M | — | -8.20% | 105.00M | -725.00M | -0.29 |
| Q1 FY2003 | 31 Mar 2003 | 1.65B | +319.90% | 17.91% | 2.34B | -697.00M | 0.76 |
| Q4 FY2002 | 31 Dec 2002 | -645.00M | — | -5.84% | 231.00M | -876.00M | -0.30 |
| Q3 FY2002 | 30 Sept 2002 | 1.23B | +179.14% | 15.00% | 1.83B | -595.00M | 0.57 |
| Q2 FY2002 | 30 Jun 2002 | -98.00M | — | -1.16% | 567.00M | -665.00M | -0.05 |
| Q1 FY2002 | 31 Mar 2002 | 392.00M | — | 6.30% | 835.00M | -443.00M | 0.18 |
| Q4 FY2001 | 31 Dec 2001 | -729.00M | — | -11.23% | -152.00M | -577.00M | -0.34 |
| Q3 FY2001 | 30 Sept 2001 | 441.00M | — | 6.24% | 637.00M | -196.00M | 0.20 |
Figures in USD. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Stock buybacks,Cash flow
Common questions about Equinor ASA's free cash flow
Source: Financial Modeling Prep