EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
OSL:EQNR - NO0010096985 - Common Stock
242.55 NOK
-0.15 (-0.06%)
EQNR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 63 industry peers in the Oil, Gas & Consumable Fuels industry. EQNR scores excellent on profitability, but there are some minor concerns on its financial health. EQNR has a valuation in line with the averages, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year EQNR was profitable.
In the past year EQNR had a positive cash flow from operations.
Of the past 5 years EQNR 4 years were profitable.
In the past 5 years EQNR always reported a positive cash flow from operatings.
1.2 Ratios
EQNR's Return On Assets of 5.91% is fine compared to the rest of the industry. EQNR outperforms 66.67% of its industry peers.
EQNR has a Return On Equity of 19.60%. This is in the better half of the industry: EQNR outperforms 76.19% of its industry peers.
Looking at the Return On Invested Capital, with a value of 23.14%, EQNR belongs to the top of the industry, outperforming 96.83% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for EQNR is significantly above the industry average of 10.18%.
The last Return On Invested Capital (23.14%) for EQNR is well below the 3 year average (33.07%), which needs to be investigated, but indicates that EQNR had better years and this may not be a problem.
| 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 53.97% of the companies in the same industry.
EQNR's Profit Margin has improved in the last couple of years.
The Operating Margin of EQNR (28.86%) is better than 66.67% of its industry peers.
EQNR's Operating Margin has improved in the last couple of years.
The Gross Margin of EQNR (49.13%) is comparable to the rest of the 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.
EQNR has less shares outstanding than it did 1 year ago.
The number of shares outstanding for EQNR has been reduced compared to 5 years ago.
The debt/assets ratio for EQNR is higher compared to a year ago.
2.2 Solvency
EQNR has an Altman-Z score of 2.44. 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 Altman-Z score of 2.44. This is in the better half of the industry: EQNR outperforms 69.84% 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.
The Debt to FCF ratio of EQNR (4.39) is better than 71.43% 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.
EQNR has a Debt to Equity ratio of 0.58. This is comparable to the rest of the industry: EQNR outperforms 42.86% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 4.39 | ||
| Altman-Z | 2.44 |
ROIC/WACC2.81
WACC8.22%
2.3 Liquidity
EQNR has a Current Ratio of 1.23. This is a normal value and indicates that EQNR is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Current ratio, with a value of 1.23, EQNR is doing worse than 63.49% of the companies in the same industry.
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 (1.12) which is in line with 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.
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%.
EQNR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.24% yearly.
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
EQNR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.89% yearly.
The Revenue is expected to decrease by -4.76% on average over the next years.
EPS Next Y-7.91%
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
EPS Next 5Y3.89%
Revenue Next Year-0.93%
Revenue Next 2Y-2.5%
Revenue Next 3Y-1.23%
Revenue Next 5Y-4.76%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 8.84, which indicates a very decent valuation of EQNR.
Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than the industry average as 76.19% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of EQNR to the average of the S&P500 Index (27.03), we can say EQNR is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 7.83, the valuation of EQNR can be described as very cheap.
Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than 77.78% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of EQNR to the average of the S&P500 Index (22.63), we can say EQNR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.84 | ||
| Fwd PE | 7.83 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaply inside the industry as 95.24% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, EQNR is valued a bit cheaper than the industry average as 77.78% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.76 | ||
| EV/EBITDA | 1.37 |
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)0.53
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.12%, EQNR is a good candidate for dividend investing.
EQNR's Dividend Yield is a higher than the industry average which is at 56.59.
Compared to an average S&P500 Dividend Yield of 2.32, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.12% |
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
82.65% of the earnings are spent on dividend by EQNR. This is not a sustainable payout ratio.
The dividend of EQNR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP82.65%
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
OSL:EQNR (9/5/2025, 10:42:29 AM)
242.55
-0.15 (-0.06%)
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 Cap612.53B
Analysts55.14
Price Target266.22 (9.76%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.12% |
Yearly Dividend30.41
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)-2.13%
PT rev (3m)-5.93%
EPS NQ rev (1m)-3.54%
EPS NQ rev (3m)-6.94%
EPS NY rev (1m)-11.79%
EPS NY rev (3m)-11.79%
Revenue NQ rev (1m)0.23%
Revenue NQ rev (3m)5.43%
Revenue NY rev (1m)0.84%
Revenue NY rev (3m)4.99%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.84 | ||
| Fwd PE | 7.83 | ||
| P/S | 0.57 | ||
| P/FCF | 7.76 | ||
| P/OCF | 2.89 | ||
| P/B | 1.45 | ||
| P/tB | 1.71 | ||
| EV/EBITDA | 1.37 |
EPS(TTM)27.45
EY11.32%
EPS(NY)30.96
Fwd EY12.76%
FCF(TTM)31.26
FCFY12.89%
OCF(TTM)83.9
OCFY34.59%
SpS425.42
BVpS167.51
TBVpS142.05
PEG (NY)N/A
PEG (5Y)0.53
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 | 2.44 |
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-0.93%
Revenue Next 2Y-2.5%
Revenue Next 3Y-1.23%
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%