EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
232.1 NOK
+5.1 (+2.25%)
EQNR gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals 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. This makes EQNR very considerable for value investing!
1. Profitability
1.1 Basic Checks
EQNR had positive earnings in the past year.
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 has a Return On Assets of 4.22%. This is in the better half of the industry: EQNR outperforms 61.19% of its industry peers.
EQNR's Return On Equity of 14.13% is fine compared to the rest of the industry. EQNR outperforms 74.63% of its industry peers.
EQNR has a Return On Invested Capital of 22.60%. This is amongst the best in the industry. EQNR outperforms 98.51% of its industry peers.
EQNR had an Average Return On Invested Capital over the past 3 years of 33.11%. This is significantly above the industry average of 9.18%.
The last Return On Invested Capital (22.60%) for EQNR is well below the 3 year average (33.11%), which needs to be investigated, but indicates that EQNR had better years and this may not be a problem.
| 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
EQNR has a Profit Margin (5.35%) which is comparable to the rest of the 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 70.15% of the companies in the same industry.
EQNR's Operating Margin has improved in the last couple of years.
With a Gross Margin value of 48.66%, EQNR perfoms like the industry average, outperforming 50.75% 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 | 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
EQNR has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
Compared to 1 year ago, EQNR has less shares outstanding
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 2.43. 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 (2.43) is better than 65.67% of its industry peers.
EQNR has a debt to FCF ratio of 4.56. This is a neutral value as EQNR would need 4.56 years to pay back of all of its debts.
EQNR's Debt to FCF ratio of 4.56 is fine compared to the rest of the industry. EQNR outperforms 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.
With a Debt to Equity ratio value of 0.62, EQNR perfoms like the industry average, outperforming 41.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.56 | ||
| Altman-Z | 2.43 |
ROIC/WACC2.74
WACC8.24%
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.
EQNR has a Current ratio (1.23) which is comparable to the rest of the industry.
A Quick Ratio of 1.12 indicates that EQNR should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.12, EQNR is in line with its industry, outperforming 58.21% of the companies in the same 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.
Measured over the past years, EQNR shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.82% on average per year.
EQNR shows a small growth in Revenue. In the last year, the Revenue has grown by 2.15%.
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)-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.
EQNR is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -4.76% yearly.
EPS Next Y-13.97%
EPS Next 2Y-4.37%
EPS Next 3Y-0.36%
EPS Next 5Y-0.15%
Revenue Next Year-0.07%
Revenue Next 2Y-3.52%
Revenue Next 3Y-1.85%
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 9.91 indicates a reasonable valuation of EQNR.
76.12% 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 26.43. EQNR is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 7.75 indicates a rather cheap valuation of EQNR.
EQNR's Price/Forward Earnings ratio is rather cheap when compared to the industry. EQNR is cheaper than 82.09% of the companies in the same industry.
EQNR is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.66, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.91 | ||
| Fwd PE | 7.75 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaper than 97.01% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, EQNR is valued cheaper than 82.09% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.43 | ||
| EV/EBITDA | 1.2 |
4.3 Compensation for Growth
The decent profitability rating of EQNR may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.59
EPS Next 2Y-4.37%
EPS Next 3Y-0.36%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.44%, EQNR is a good candidate for dividend investing.
EQNR's Dividend Yield is rather good when compared to the industry average which is at 3.82. EQNR pays more dividend than 82.09% of the companies in the same industry.
EQNR's Dividend Yield is rather good when compared to the S&P500 average which is at 1.87.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.44% |
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
101.05% of the earnings are spent on dividend by EQNR. This is not a sustainable payout ratio.
EQNR's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP101.05%
EPS Next 2Y-4.37%
EPS Next 3Y-0.36%
OSL:EQNR (12/17/2025, 4:26:15 PM)
232.1
+5.1 (+2.25%)
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 Cap582.54B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target249.77 (7.61%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.44% |
Yearly Dividend30.51
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)-2.42%
PT rev (3m)-6.93%
EPS NQ rev (1m)2.92%
EPS NQ rev (3m)-1.43%
EPS NY rev (1m)-1.11%
EPS NY rev (3m)-6.58%
Revenue NQ rev (1m)2.13%
Revenue NQ rev (3m)0.65%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)0.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.91 | ||
| Fwd PE | 7.75 | ||
| P/S | 0.53 | ||
| P/FCF | 8.43 | ||
| P/OCF | 2.82 | ||
| P/B | 1.41 | ||
| P/tB | 1.68 | ||
| EV/EBITDA | 1.2 |
EPS(TTM)23.41
EY10.09%
EPS(NY)29.97
Fwd EY12.91%
FCF(TTM)27.54
FCFY11.87%
OCF(TTM)82.26
OCFY35.44%
SpS434.15
BVpS164.33
TBVpS138.29
PEG (NY)N/A
PEG (5Y)0.59
Graham Number294.2
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 | 2.43 |
F-Score5
WACC8.24%
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-13.97%
EPS Next 2Y-4.37%
EPS Next 3Y-0.36%
EPS Next 5Y-0.15%
Revenue 1Y (TTM)2.15%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%2.14%
Revenue Next Year-0.07%
Revenue Next 2Y-3.52%
Revenue Next 3Y-1.85%
Revenue Next 5Y-4.76%
EBIT growth 1Y-3.66%
EBIT growth 3Y-3.87%
EBIT growth 5Y16.06%
EBIT Next Year29.65%
EBIT Next 3Y5.75%
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.
Can you provide the valuation status for EQUINOR ASA?
ChartMill assigns a valuation rating of 7 / 10 to EQUINOR ASA (EQNR.OL). This can be considered as Undervalued.
Can you provide the profitability details for EQUINOR ASA?
EQUINOR ASA (EQNR.OL) has a profitability rating of 7 / 10.
What is the valuation of EQUINOR ASA based on its PE and PB ratios?
The Price/Earnings (PE) ratio for EQUINOR ASA (EQNR.OL) is 9.91 and the Price/Book (PB) ratio is 1.41.
Can you provide the financial health for EQNR stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 10.