EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
237 NOK
+1.8 (+0.77%)
Overall EQNR gets a fundamental rating of 6 out of 10. We evaluated EQNR against 67 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 is valued quite cheap, but it does not seem to be growing. These ratings could make EQNR a good candidate for value investing.
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.
Each year in the past 5 years EQNR had a positive operating cash flow.
1.2 Ratios
The Return On Assets of EQNR (4.22%) is better than 62.69% of its industry peers.
Looking at the Return On Equity, with a value of 14.13%, EQNR is in the better half of the industry, outperforming 76.12% of the companies in the same industry.
The Return On Invested Capital of EQNR (22.60%) is better than 98.51% 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 9.19%.
The 3 year average ROIC (33.11%) for EQNR is well above the current ROIC(22.60%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.22% | ||
| ROE | 14.13% | ||
| ROIC | 22.6% |
ROA(3y)11.06%
ROA(5y)6.92%
ROE(3y)32.85%
ROE(5y)20.85%
ROIC(3y)33.11%
ROIC(5y)25.12%
1.3 Margins
Looking at the Profit Margin, with a value of 5.35%, EQNR is in line with its industry, outperforming 43.28% of the companies in the same industry.
In the last couple of years the Profit Margin of EQNR has grown nicely.
With a decent Operating Margin value of 27.99%, EQNR is doing good in the industry, outperforming 71.64% of the companies in the same industry.
In the last couple of years the Operating Margin of EQNR has grown nicely.
EQNR has a Gross Margin of 48.66%. This is comparable to the rest of the industry: EQNR outperforms 52.24% 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 | 27.99% | ||
| PM (TTM) | 5.35% | ||
| GM | 48.66% |
OM growth 3Y-8.38%
OM growth 5Y5.28%
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.
EQNR has less shares outstanding than it did 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 2.45. 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.
The Altman-Z score of EQNR (2.45) is better than 67.16% of its industry peers.
The Debt to FCF ratio of EQNR is 4.56, which is a neutral value as it means it would take EQNR, 4.56 years of fcf income to pay off all of its debts.
EQNR has a better Debt to FCF ratio (4.56) than 68.66% of its industry peers.
EQNR has a Debt/Equity ratio of 0.62. This is a neutral value indicating EQNR is somewhat dependend on debt financing.
EQNR has a Debt to Equity ratio (0.62) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.56 | ||
| Altman-Z | 2.45 |
ROIC/WACC2.74
WACC8.26%
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 in line with its industry, outperforming 47.76% of the companies in the same 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.
The Quick ratio of EQNR (1.12) is comparable to the rest of the industry.
| 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 -28.57% 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.
The Revenue has been growing slightly by 2.15% in the past year.
Measured over the past years, EQNR shows a quite strong growth in Revenue. The Revenue has been growing by 10.24% on average per year.
EPS 1Y (TTM)-28.57%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-53.16%
Revenue 1Y (TTM)2.15%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%2.14%
3.2 Future
Based on estimates for the next years, EQNR will show a decrease in Earnings Per Share. The EPS will decrease by -0.15% on average per year.
Based on estimates for the next years, EQNR will show a decrease in Revenue. The Revenue will decrease by -4.76% on average per year.
EPS Next Y-16.15%
EPS Next 2Y-6.05%
EPS Next 3Y-1.5%
EPS Next 5Y-0.15%
Revenue Next Year0.77%
Revenue Next 2Y-4.32%
Revenue Next 3Y-2.5%
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 10.22 indicates a reasonable valuation of EQNR.
EQNR's Price/Earnings ratio is a bit cheaper when compared to the industry. EQNR is cheaper than 76.12% of the companies in the same industry.
EQNR's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.51.
A Price/Forward Earnings ratio of 8.27 indicates a reasonable valuation of EQNR.
Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than 79.10% of the companies in the same industry.
EQNR is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.13, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.22 | ||
| Fwd PE | 8.27 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaply inside the industry as 97.01% of the companies are valued more expensively.
80.60% 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 | 8.69 | ||
| EV/EBITDA | 1.27 |
4.3 Compensation for Growth
The decent profitability rating of EQNR may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.61
EPS Next 2Y-6.05%
EPS Next 3Y-1.5%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.37%, EQNR is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.76, EQNR pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.00, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.37% |
5.2 History
On average, the dividend of EQNR grows each year by 24.62%, which is quite nice.
Dividend Growth(5Y)24.62%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
101.05% of the earnings are spent on dividend by EQNR. This is not a sustainable payout ratio.
The Dividend Rate of EQNR has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP101.05%
EPS Next 2Y-6.05%
EPS Next 3Y-1.5%
OSL:EQNR (12/30/2025, 7:00:00 PM)
237
+1.8 (+0.77%)
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 Cap594.84B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target249.35 (5.21%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.37% |
Yearly Dividend30.23
Dividend Growth(5Y)24.62%
DP101.05%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-18.96%
Min EPS beat(2)-36.86%
Max EPS beat(2)-1.06%
EPS beat(4)0
Avg EPS beat(4)-18.46%
Min EPS beat(4)-36.86%
Max EPS beat(4)-1.06%
EPS beat(8)3
Avg EPS beat(8)-7.11%
EPS beat(12)6
Avg EPS beat(12)-0.27%
EPS beat(16)8
Avg EPS beat(16)0.87%
Revenue beat(2)2
Avg Revenue beat(2)9.54%
Min Revenue beat(2)8.5%
Max Revenue beat(2)10.59%
Revenue beat(4)3
Avg Revenue beat(4)7.52%
Min Revenue beat(4)-0.15%
Max Revenue beat(4)11.14%
Revenue beat(8)5
Avg Revenue beat(8)3.15%
Revenue beat(12)6
Avg Revenue beat(12)-1.48%
Revenue beat(16)10
Avg Revenue beat(16)-0.2%
PT rev (1m)-0.46%
PT rev (3m)-7.09%
EPS NQ rev (1m)1.23%
EPS NQ rev (3m)-0.91%
EPS NY rev (1m)-3.62%
EPS NY rev (3m)-9.34%
Revenue NQ rev (1m)-1.04%
Revenue NQ rev (3m)-0.4%
Revenue NY rev (1m)0.86%
Revenue NY rev (3m)1.27%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.22 | ||
| Fwd PE | 8.27 | ||
| P/S | 0.55 | ||
| P/FCF | 8.69 | ||
| P/OCF | 2.91 | ||
| P/B | 1.46 | ||
| P/tB | 1.73 | ||
| EV/EBITDA | 1.27 |
EPS(TTM)23.18
EY9.78%
EPS(NY)28.64
Fwd EY12.09%
FCF(TTM)27.28
FCFY11.51%
OCF(TTM)81.46
OCFY34.37%
SpS429.95
BVpS162.74
TBVpS136.96
PEG (NY)N/A
PEG (5Y)0.61
Graham Number291.34
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.22% | ||
| ROE | 14.13% | ||
| ROCE | 29.35% | ||
| ROIC | 22.6% | ||
| ROICexc | 28.94% | ||
| ROICexgc | 31.48% | ||
| OM | 27.99% | ||
| PM (TTM) | 5.35% | ||
| GM | 48.66% | ||
| FCFM | 6.34% |
ROA(3y)11.06%
ROA(5y)6.92%
ROE(3y)32.85%
ROE(5y)20.85%
ROIC(3y)33.11%
ROIC(5y)25.12%
ROICexc(3y)48.04%
ROICexc(5y)36.15%
ROICexgc(3y)51.68%
ROICexgc(5y)38.99%
ROCE(3y)44.25%
ROCE(5y)33.68%
ROICexgc growth 3Y-4.25%
ROICexgc growth 5Y16.79%
ROICexc growth 3Y-3.9%
ROICexc growth 5Y18.15%
OM growth 3Y-8.38%
OM growth 5Y5.28%
PM growth 3Y-3.8%
PM growth 5Y23.92%
GM growth 3Y-5.36%
GM growth 5Y-0.73%
F-Score5
Asset Turnover0.79
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.56 | ||
| Debt/EBITDA | 0.6 | ||
| Cap/Depr | 113.26% | ||
| Cap/Sales | 12.6% | ||
| Interest Coverage | 44.4 | ||
| Cash Conversion | 48.43% | ||
| Profit Quality | 118.62% | ||
| Current Ratio | 1.23 | ||
| Quick Ratio | 1.12 | ||
| Altman-Z | 2.45 |
F-Score5
WACC8.26%
ROIC/WACC2.74
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)-28.57%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-53.16%
EPS Next Y-16.15%
EPS Next 2Y-6.05%
EPS Next 3Y-1.5%
EPS Next 5Y-0.15%
Revenue 1Y (TTM)2.15%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%2.14%
Revenue Next Year0.77%
Revenue Next 2Y-4.32%
Revenue Next 3Y-2.5%
Revenue Next 5Y-4.76%
EBIT growth 1Y-3.66%
EBIT growth 3Y-3.87%
EBIT growth 5Y16.06%
EBIT Next Year29.63%
EBIT Next 3Y5.61%
EBIT Next 5Y1.93%
FCF growth 1Y-57.61%
FCF growth 3Y-27.45%
FCF growth 5Y17.48%
OCF growth 1Y-22.67%
OCF growth 3Y-11.3%
OCF growth 5Y7.9%
EQUINOR ASA / EQNR.OL FAQ
What is the ChartMill fundamental rating of EQUINOR ASA (EQNR.OL) stock?
ChartMill assigns a fundamental rating of 6 / 10 to EQNR.OL.
What is the valuation status of EQUINOR ASA (EQNR.OL) stock?
ChartMill assigns a valuation rating of 7 / 10 to EQUINOR ASA (EQNR.OL). This can be considered as Undervalued.
How profitable is EQUINOR ASA (EQNR.OL) stock?
EQUINOR ASA (EQNR.OL) has a profitability rating of 7 / 10.
What is the financial health of EQUINOR ASA (EQNR.OL) stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 10.
What is the expected EPS growth for EQUINOR ASA (EQNR.OL) stock?
The Earnings per Share (EPS) of EQUINOR ASA (EQNR.OL) is expected to decline by -16.15% in the next year.