EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - OSL:EQNR - NO0010096985 - Common Stock
236.3 NOK
+1.1 (+0.47%)
EQNR gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 63 industry peers in the Oil, Gas & Consumable Fuels industry. While EQNR belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on EQNR. With these ratings, EQNR could be worth investigating further for value investing!.
1. Profitability
1.1 Basic Checks
EQNR had positive earnings in the past year.
EQNR had a positive operating cash flow in the past year.
EQNR had positive earnings in 4 of the past 5 years.
Each year in the past 5 years EQNR had a positive operating cash flow.
1.2 Ratios
EQNR has a better Return On Assets (5.91%) than 69.84% of its industry peers.
The Return On Equity of EQNR (19.60%) is better than 79.37% of its industry peers.
EQNR has a Return On Invested Capital of 23.14%. This is amongst the best in the industry. EQNR outperforms 96.83% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for EQNR is significantly above the industry average of 9.70%.
The 3 year average ROIC (33.07%) for EQNR is well above the current ROIC(23.14%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.91% | ||
| ROE | 19.6% | ||
| ROIC | 23.14% |
ROA(3y)11.06%
ROA(5y)6.92%
ROE(3y)32.85%
ROE(5y)20.85%
ROIC(3y)33.07%
ROIC(5y)25.09%
1.3 Margins
EQNR has a Profit Margin of 7.72%. This is comparable to the rest of the industry: EQNR outperforms 53.97% of its industry peers.
In the last couple of years the Profit Margin of EQNR has grown nicely.
EQNR's Operating Margin of 28.86% is fine compared to the rest of the industry. EQNR outperforms 71.43% of its industry peers.
EQNR's Operating Margin has improved in the last couple of years.
EQNR has a Gross Margin of 49.13%. This is comparable to the rest of the industry: EQNR outperforms 52.38% of its industry peers.
In the last couple of years the Gross Margin of EQNR has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 28.86% | ||
| PM (TTM) | 7.72% | ||
| GM | 49.13% |
OM growth 3Y-8.57%
OM growth 5Y5.15%
PM growth 3Y-3.8%
PM growth 5Y23.92%
GM growth 3Y-5.36%
GM growth 5Y-0.73%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so EQNR is creating value.
The number of shares outstanding for EQNR has been reduced compared to 1 year ago.
EQNR has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, EQNR has a worse debt to assets ratio.
2.2 Solvency
EQNR has an Altman-Z score of 2.42. This is not the best score and indicates that EQNR is in the grey zone with still only limited risk for bankruptcy at the moment.
EQNR has a better Altman-Z score (2.42) than 73.02% of its industry peers.
EQNR has a debt to FCF ratio of 4.39. This is a neutral value as EQNR would need 4.39 years to pay back of all of its debts.
EQNR has a better Debt to FCF ratio (4.39) than 73.02% of its industry peers.
EQNR has a Debt/Equity ratio of 0.58. This is a neutral value indicating EQNR is somewhat dependend on debt financing.
The Debt to Equity ratio of EQNR (0.58) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 4.39 | ||
| Altman-Z | 2.42 |
ROIC/WACC2.82
WACC8.2%
2.3 Liquidity
A Current Ratio of 1.23 indicates that EQNR should not have too much problems paying its short term obligations.
EQNR has a Current ratio (1.23) which is comparable to the rest of the industry.
EQNR has a Quick Ratio of 1.12. This is a normal value and indicates that EQNR is financially healthy and should not expect problems in meeting its short term obligations.
EQNR has a Quick ratio of 1.12. This is comparable to the rest of the industry: EQNR outperforms 58.73% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.23 | ||
| Quick Ratio | 1.12 |
3. Growth
3.1 Past
The earnings per share for EQNR have decreased strongly by -18.81% in the last year.
EQNR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.82% yearly.
EQNR shows a small growth in Revenue. In the last year, the Revenue has grown by 1.09%.
The Revenue has been growing by 10.24% on average over the past years. This is quite good.
EPS 1Y (TTM)-18.81%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-23.81%
Revenue 1Y (TTM)1.09%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%-1.54%
3.2 Future
Based on estimates for the next years, EQNR will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.92% on average per year.
The Revenue is expected to decrease by -4.76% on average over the next years.
EPS Next Y-7.52%
EPS Next 2Y-2.69%
EPS Next 3Y0.5%
EPS Next 5Y10.92%
Revenue Next Year-1.17%
Revenue Next 2Y-2.57%
Revenue Next 3Y-1.3%
Revenue Next 5Y-4.76%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 8.52, which indicates a very decent valuation of EQNR.
76.19% of the companies in the same industry are more expensive than EQNR, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.55. EQNR is valued rather cheaply when compared to this.
Based on the Price/Forward Earnings ratio of 7.61, the valuation of EQNR can be described as very cheap.
EQNR's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. EQNR is cheaper than 76.19% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of EQNR to the average of the S&P500 Index (23.04), we can say EQNR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.52 | ||
| Fwd PE | 7.61 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaper than 95.24% of the companies in the same industry.
80.95% of the companies in the same industry are more expensive than EQNR, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.47 | ||
| EV/EBITDA | 1.31 |
4.3 Compensation for Growth
The decent profitability rating of EQNR may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.51
EPS Next 2Y-2.69%
EPS Next 3Y0.5%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 6.04%, which is a nice return.
Compared to an average industry Dividend Yield of 57.51, EQNR pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.43, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.04% |
5.2 History
The dividend of EQNR is nicely growing with an annual growth rate of 24.62%!
Dividend Growth(5Y)24.62%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
EQNR pays out 82.65% of its income as dividend. This is not a sustainable payout ratio.
EQNR's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP82.65%
EPS Next 2Y-2.69%
EPS Next 3Y0.5%
OSL:EQNR (10/15/2025, 4:26:15 PM)
236.3
+1.1 (+0.47%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners21.2%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap595.43B
Analysts53.33
Price Target264.1 (11.76%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.04% |
Yearly Dividend30.47
Dividend Growth(5Y)24.62%
DP82.65%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-12.36%
Min EPS beat(2)-23.66%
Max EPS beat(2)-1.06%
EPS beat(4)1
Avg EPS beat(4)-8.27%
Min EPS beat(4)-23.66%
Max EPS beat(4)3.9%
EPS beat(8)4
Avg EPS beat(8)-0.52%
EPS beat(12)7
Avg EPS beat(12)2.81%
EPS beat(16)9
Avg EPS beat(16)3.76%
Revenue beat(2)2
Avg Revenue beat(2)9.82%
Min Revenue beat(2)8.5%
Max Revenue beat(2)11.14%
Revenue beat(4)3
Avg Revenue beat(4)5.77%
Min Revenue beat(4)-0.15%
Max Revenue beat(4)11.14%
Revenue beat(8)5
Avg Revenue beat(8)2.03%
Revenue beat(12)6
Avg Revenue beat(12)-2.08%
Revenue beat(16)10
Avg Revenue beat(16)-0.59%
PT rev (1m)-2.01%
PT rev (3m)-2.72%
EPS NQ rev (1m)-3.32%
EPS NQ rev (3m)-4.95%
EPS NY rev (1m)0.43%
EPS NY rev (3m)-11.41%
Revenue NQ rev (1m)0.52%
Revenue NQ rev (3m)4.23%
Revenue NY rev (1m)-0.67%
Revenue NY rev (3m)4.74%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.52 | ||
| Fwd PE | 7.61 | ||
| P/S | 0.55 | ||
| P/FCF | 7.47 | ||
| P/OCF | 2.78 | ||
| P/B | 1.39 | ||
| P/tB | 1.64 | ||
| EV/EBITDA | 1.31 |
EPS(TTM)27.72
EY11.73%
EPS(NY)31.07
Fwd EY13.15%
FCF(TTM)31.64
FCFY13.39%
OCF(TTM)84.91
OCFY35.93%
SpS430.54
BVpS169.53
TBVpS143.76
PEG (NY)N/A
PEG (5Y)0.51
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.91% | ||
| ROE | 19.6% | ||
| ROCE | 30.05% | ||
| ROIC | 23.14% | ||
| ROICexc | 30.15% | ||
| ROICexgc | 32.82% | ||
| OM | 28.86% | ||
| PM (TTM) | 7.72% | ||
| GM | 49.13% | ||
| FCFM | 7.35% |
ROA(3y)11.06%
ROA(5y)6.92%
ROE(3y)32.85%
ROE(5y)20.85%
ROIC(3y)33.07%
ROIC(5y)25.09%
ROICexc(3y)47.97%
ROICexc(5y)36.11%
ROICexgc(3y)51.61%
ROICexgc(5y)38.95%
ROCE(3y)44.19%
ROCE(5y)33.64%
ROICexcg growth 3Y-4.45%
ROICexcg growth 5Y16.65%
ROICexc growth 3Y-4.1%
ROICexc growth 5Y18%
OM growth 3Y-8.57%
OM growth 5Y5.15%
PM growth 3Y-3.8%
PM growth 5Y23.92%
GM growth 3Y-5.36%
GM growth 5Y-0.73%
F-Score4
Asset Turnover0.77
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 4.39 | ||
| Debt/EBITDA | 0.59 | ||
| Cap/Depr | 121.16% | ||
| Cap/Sales | 12.37% | ||
| Interest Coverage | 42.68 | ||
| Cash Conversion | 50.47% | ||
| Profit Quality | 95.21% | ||
| Current Ratio | 1.23 | ||
| Quick Ratio | 1.12 | ||
| Altman-Z | 2.42 |
F-Score4
WACC8.2%
ROIC/WACC2.82
Cap/Depr(3y)119.04%
Cap/Depr(5y)96.27%
Cap/Sales(3y)9.19%
Cap/Sales(5y)11.03%
Profit Quality(3y)100.41%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-18.81%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-23.81%
EPS Next Y-7.52%
EPS Next 2Y-2.69%
EPS Next 3Y0.5%
EPS Next 5Y10.92%
Revenue 1Y (TTM)1.09%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%-1.54%
Revenue Next Year-1.17%
Revenue Next 2Y-2.57%
Revenue Next 3Y-1.3%
Revenue Next 5Y-4.76%
EBIT growth 1Y-6.21%
EBIT growth 3Y-4.07%
EBIT growth 5Y15.92%
EBIT Next Year30.46%
EBIT Next 3Y6.74%
EBIT Next 5Y3.17%
FCF growth 1Y-56.45%
FCF growth 3Y-27.45%
FCF growth 5Y17.48%
OCF growth 1Y-23.85%
OCF growth 3Y-11.3%
OCF growth 5Y7.9%