EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - OSL:EQNR - NO0010096985 - Common Stock
257 NOK
+2.1 (+0.82%)
Overall EQNR gets a fundamental rating of 6 out of 10. We evaluated EQNR against 64 industry peers in the Oil, Gas & Consumable Fuels industry. While EQNR has a great profitability rating, there are some minor concerns on its financial health. EQNR is valued quite cheap, but it does not seem to be growing. This makes EQNR very considerable 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.
Of the past 5 years EQNR 4 years were profitable.
EQNR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 5.91%, EQNR is in the better half of the industry, outperforming 70.31% of the companies in the same industry.
EQNR has a better Return On Equity (19.60%) than 78.13% of its industry peers.
EQNR has a Return On Invested Capital of 23.14%. This is amongst the best in the industry. EQNR outperforms 96.88% of its industry peers.
EQNR had an Average Return On Invested Capital over the past 3 years of 33.07%. This is significantly above the industry average of 9.91%.
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
Looking at the Profit Margin, with a value of 7.72%, EQNR is in line with its industry, outperforming 51.56% of the companies in the same industry.
EQNR's Profit Margin has improved in the last couple of years.
EQNR has a Operating Margin of 28.86%. This is in the better half of the industry: EQNR outperforms 68.75% of its industry peers.
EQNR's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 49.13%, EQNR is in line with its industry, outperforming 53.13% of the companies in the same industry.
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
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), EQNR is creating value.
The number of shares outstanding for EQNR has been reduced compared to 1 year ago.
Compared to 5 years ago, EQNR has less shares outstanding
Compared to 1 year ago, EQNR has a worse debt to assets ratio.
2.2 Solvency
EQNR has an Altman-Z score of 2.46. 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's Altman-Z score of 2.46 is fine compared to the rest of the industry. EQNR outperforms 68.75% of its industry peers.
The Debt to FCF ratio of EQNR is 4.39, which is a neutral value as it means it would take EQNR, 4.39 years of fcf income to pay off all of its debts.
EQNR has a better Debt to FCF ratio (4.39) than 71.88% 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.
Looking at the Debt to Equity ratio, with a value of 0.58, EQNR is in line with its industry, outperforming 45.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 4.39 | ||
| Altman-Z | 2.46 |
ROIC/WACC2.81
WACC8.22%
2.3 Liquidity
A Current Ratio of 1.23 indicates that EQNR should not have too much problems paying its short term obligations.
EQNR's Current ratio of 1.23 is in line compared to the rest of the industry. EQNR outperforms 42.19% of its industry peers.
A Quick Ratio of 1.12 indicates that EQNR should not have too much problems paying its short term obligations.
EQNR has a Quick ratio of 1.12. This is comparable to the rest of the industry: EQNR outperforms 57.81% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.23 | ||
| Quick Ratio | 1.12 |
3. Growth
3.1 Past
EQNR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -18.81%.
The Earnings Per Share has been growing by 16.82% on average over the past years. This is quite good.
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 small growth in Earnings Per Share. The EPS will grow by 3.89% on average per year.
EQNR is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -4.76% yearly.
EPS Next Y-7.91%
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
EPS Next 5Y3.89%
Revenue Next Year-0.5%
Revenue Next 2Y-2.59%
Revenue Next 3Y-1.38%
Revenue Next 5Y-4.76%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 9.50 indicates a reasonable valuation of EQNR.
EQNR's Price/Earnings ratio is a bit cheaper when compared to the industry. EQNR is cheaper than 78.13% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.29, EQNR is valued rather cheaply.
A Price/Forward Earnings ratio of 8.43 indicates a reasonable valuation of EQNR.
Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than the industry average as 78.13% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 22.80. EQNR is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.5 | ||
| Fwd PE | 8.43 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaply inside the industry as 95.31% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of EQNR indicates a rather cheap valuation: EQNR is cheaper than 81.25% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.34 | ||
| EV/EBITDA | 1.47 |
4.3 Compensation for Growth
EQNR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.57
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.01%, EQNR is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 55.18, EQNR pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.01% |
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-2.39%
EPS Next 3Y0.63%
OSL:EQNR (9/25/2025, 3:44:19 PM)
257
+2.1 (+0.82%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners18.35%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap649.02B
Analysts55
Price Target268.38 (4.43%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.01% |
Yearly Dividend30.02
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)0.34%
PT rev (3m)-1.14%
EPS NQ rev (1m)-3.57%
EPS NQ rev (3m)-10.27%
EPS NY rev (1m)0%
EPS NY rev (3m)-11.79%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)5.43%
Revenue NY rev (1m)0.44%
Revenue NY rev (3m)5.45%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.5 | ||
| Fwd PE | 8.43 | ||
| P/S | 0.61 | ||
| P/FCF | 8.34 | ||
| P/OCF | 3.11 | ||
| P/B | 1.56 | ||
| P/tB | 1.84 | ||
| EV/EBITDA | 1.47 |
EPS(TTM)27.04
EY10.52%
EPS(NY)30.5
Fwd EY11.87%
FCF(TTM)30.8
FCFY11.99%
OCF(TTM)82.66
OCFY32.16%
SpS419.14
BVpS165.04
TBVpS139.96
PEG (NY)N/A
PEG (5Y)0.57
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 | 2.46 |
F-Score4
WACC8.22%
ROIC/WACC2.81
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-7.91%
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
EPS Next 5Y3.89%
Revenue 1Y (TTM)1.09%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%-1.54%
Revenue Next Year-0.5%
Revenue Next 2Y-2.59%
Revenue Next 3Y-1.38%
Revenue Next 5Y-4.76%
EBIT growth 1Y-6.21%
EBIT growth 3Y-4.07%
EBIT growth 5Y15.92%
EBIT Next Year29.75%
EBIT Next 3Y6.16%
EBIT Next 5Y2.94%
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%