EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
OSL:EQNR - Euronext Oslo - NO0010096985 - Common Stock - Currency: NOK
EQNR gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 61 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. EQNR has a valuation in line with the averages, but it does not seem to be growing.
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.
In the past 5 years EQNR always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of EQNR (6.36%) is better than 60.66% of its industry peers.
Looking at the Return On Equity, with a value of 19.13%, EQNR is in the better half of the industry, outperforming 72.13% of the companies in the same industry.
The Return On Invested Capital of EQNR (23.64%) is better than 93.44% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EQNR is significantly above the industry average of 14.55%.
The 3 year average ROIC (33.07%) for EQNR is well above the current ROIC(23.64%). The reason for the recent decline needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.36% | ||
| ROE | 19.13% | ||
| ROIC | 23.64% |
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 (8.21%) which is in line with its industry peers.
EQNR's Profit Margin has improved in the last couple of years.
The Operating Margin of EQNR (29.66%) is better than 68.85% of its industry peers.
EQNR's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 49.85%, EQNR perfoms like the industry average, outperforming 57.38% of the companies in the same industry.
EQNR's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 29.66% | ||
| PM (TTM) | 8.21% | ||
| GM | 49.85% |
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
An Altman-Z score of 2.69 indicates that EQNR is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.69, EQNR is doing good in the industry, outperforming 70.49% of the companies in the same industry.
The Debt to FCF ratio of EQNR is 4.02, which is a neutral value as it means it would take EQNR, 4.02 years of fcf income to pay off all of its debts.
EQNR has a Debt to FCF ratio of 4.02. This is in the better half of the industry: EQNR outperforms 65.57% of its industry peers.
A Debt/Equity ratio of 0.50 indicates that EQNR is not too dependend on debt financing.
The Debt to Equity ratio of EQNR (0.50) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.5 | ||
| Debt/FCF | 4.02 | ||
| Altman-Z | 2.69 |
ROIC/WACC2.85
WACC8.29%
2.3 Liquidity
EQNR has a Current Ratio of 1.37. 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 Current ratio (1.37) which is comparable to the rest of the industry.
EQNR has a Quick Ratio of 1.27. This is a normal value and indicates that EQNR is financially healthy and should not expect problems in meeting its short term obligations.
EQNR's Quick ratio of 1.27 is in line compared to the rest of the industry. EQNR outperforms 59.02% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.37 | ||
| Quick Ratio | 1.27 |
3. Growth
3.1 Past
EQNR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -10.15%.
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 3.96%.
The Revenue has been growing by 10.24% on average over the past years. This is quite good.
EPS 1Y (TTM)-10.15%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-31.25%
Revenue 1Y (TTM)3.96%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%17.12%
3.2 Future
EQNR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.85% yearly.
EQNR is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -4.76% yearly.
EPS Next Y4.4%
EPS Next 2Y1.65%
EPS Next 3Y1.88%
EPS Next 5Y4.85%
Revenue Next Year-5.64%
Revenue Next 2Y-4.34%
Revenue Next 3Y-3%
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.
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 9.55 indicates a reasonable valuation of EQNR.
Compared to the rest of the industry, the Price/Earnings ratio of EQNR indicates a somewhat cheap valuation: EQNR is cheaper than 67.21% of the companies listed in the same industry.
EQNR is valuated cheaply when we compare the Price/Earnings ratio to 26.35, which is the current average of the S&P500 Index.
EQNR is valuated reasonably with a Price/Forward Earnings ratio of 8.38.
Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than 63.93% of the companies in the same industry.
EQNR's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.19.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.55 | ||
| Fwd PE | 8.38 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaply inside the industry as 90.16% of the companies are valued more expensively.
EQNR's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. EQNR is cheaper than 65.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.18 | ||
| EV/EBITDA | 1.52 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates EQNR does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of EQNR may justify a higher PE ratio.
PEG (NY)2.17
PEG (5Y)0.57
EPS Next 2Y1.65%
EPS Next 3Y1.88%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 5.21%, which is a nice return.
Compared to an average industry Dividend Yield of 57.04, EQNR pays a bit more dividend than its industry peers.
EQNR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.42.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.21% |
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
89.44% 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.
DP89.44%
EPS Next 2Y1.65%
EPS Next 3Y1.88%
OSL:EQNR (6/20/2025, 7:00:00 PM)
280.8
-5.1 (-1.78%)
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 Cap759.45B
Analysts65.88
Price Target271.47 (-3.32%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.21% |
Yearly Dividend30.4
Dividend Growth(5Y)24.62%
DP89.44%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-17.95%
Min EPS beat(2)-23.64%
Max EPS beat(2)-12.26%
EPS beat(4)2
Avg EPS beat(4)-4.48%
Min EPS beat(4)-23.64%
Max EPS beat(4)14.06%
EPS beat(8)4
Avg EPS beat(8)-1.4%
EPS beat(12)7
Avg EPS beat(12)2.45%
EPS beat(16)9
Avg EPS beat(16)3.24%
Revenue beat(2)1
Avg Revenue beat(2)5.49%
Min Revenue beat(2)-0.15%
Max Revenue beat(2)11.14%
Revenue beat(4)3
Avg Revenue beat(4)4.13%
Min Revenue beat(4)-0.15%
Max Revenue beat(4)11.14%
Revenue beat(8)4
Avg Revenue beat(8)-0.67%
Revenue beat(12)6
Avg Revenue beat(12)-2.59%
Revenue beat(16)9
Avg Revenue beat(16)-1.81%
PT rev (1m)-4.07%
PT rev (3m)-13.91%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-22.15%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.33%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-7.2%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.62%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.55 | ||
| Fwd PE | 8.38 | ||
| P/S | 0.71 | ||
| P/FCF | 10.18 | ||
| P/OCF | 3.75 | ||
| P/B | 1.65 | ||
| P/tB | 1.9 | ||
| EV/EBITDA | 1.52 |
EPS(TTM)29.41
EY10.47%
EPS(NY)33.51
Fwd EY11.93%
FCF(TTM)27.59
FCFY9.83%
OCF(TTM)74.97
OCFY26.7%
SpS397.72
BVpS170.64
TBVpS147.46
PEG (NY)2.17
PEG (5Y)0.57
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.36% | ||
| ROE | 19.13% | ||
| ROCE | 30.7% | ||
| ROIC | 23.64% | ||
| ROICexc | 31.14% | ||
| ROICexgc | 33.82% | ||
| OM | 29.66% | ||
| PM (TTM) | 8.21% | ||
| GM | 49.85% | ||
| FCFM | 6.94% |
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-Score6
Asset Turnover0.77
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.5 | ||
| Debt/FCF | 4.02 | ||
| Debt/EBITDA | 0.55 | ||
| Cap/Depr | 129.94% | ||
| Cap/Sales | 11.91% | ||
| Interest Coverage | 41.95 | ||
| Cash Conversion | 48.55% | ||
| Profit Quality | 84.52% | ||
| Current Ratio | 1.37 | ||
| Quick Ratio | 1.27 | ||
| Altman-Z | 2.69 |
F-Score6
WACC8.29%
ROIC/WACC2.85
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)-10.15%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-31.25%
EPS Next Y4.4%
EPS Next 2Y1.65%
EPS Next 3Y1.88%
EPS Next 5Y4.85%
Revenue 1Y (TTM)3.96%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%17.12%
Revenue Next Year-5.64%
Revenue Next 2Y-4.34%
Revenue Next 3Y-3%
Revenue Next 5Y-4.76%
EBIT growth 1Y-1.64%
EBIT growth 3Y-4.07%
EBIT growth 5Y15.92%
EBIT Next Year29.75%
EBIT Next 3Y6.16%
EBIT Next 5Y3.26%
FCF growth 1Y-70.95%
FCF growth 3Y-27.45%
FCF growth 5Y17.48%
OCF growth 1Y-41.2%
OCF growth 3Y-11.3%
OCF growth 5Y7.9%