EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - OSL:EQNR - NO0010096985 - Common Stock
244.9 NOK
-2.2 (-0.89%)
Taking everything into account, EQNR scores 6 out of 10 in our fundamental rating. EQNR was compared to 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 bad growth rate and is valued cheaply. With these ratings, EQNR could be worth investigating further 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
The Return On Assets of EQNR (5.91%) is better than 71.43% of its industry peers.
Looking at the Return On Equity, with a value of 19.60%, EQNR belongs to the top of the industry, outperforming 80.95% of the companies in the same industry.
With an excellent Return On Invested Capital value of 23.14%, EQNR belongs to the best of the industry, outperforming 96.83% of the companies in the same industry.
EQNR had an Average Return On Invested Capital over the past 3 years of 33.07%. This is significantly above the industry average of 9.77%.
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
EQNR's Profit Margin of 7.72% is in line compared to the rest of the industry. EQNR outperforms 53.97% of its industry peers.
In the last couple of years the Profit Margin of EQNR has grown nicely.
EQNR has a Operating Margin of 28.86%. This is in the better half of the industry: EQNR outperforms 69.84% of its industry peers.
In the last couple of years the Operating Margin of EQNR has grown nicely.
EQNR's Gross Margin of 49.13% is in line compared to the rest of the industry. EQNR outperforms 52.38% 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 | 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
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so 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.
EQNR has a worse debt/assets ratio than last year.
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.
Looking at the Altman-Z score, with a value of 2.44, EQNR is in the better half of the industry, outperforming 69.84% of the companies in the same industry.
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.
EQNR has a Debt to FCF ratio of 4.39. This is in the better half of the industry: EQNR outperforms 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 (0.58) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 4.39 | ||
| Altman-Z | 2.44 |
ROIC/WACC2.8
WACC8.27%
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.
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.
EQNR's Quick ratio of 1.12 is in line compared to the rest of the industry. EQNR outperforms 58.73% of 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 -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.
The Revenue has decreased by -4.07% 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)-4.07%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%2.08%
3.2 Future
The Earnings Per Share is expected to grow by 10.92% on average over the next years. This is quite good.
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-7.52%
EPS Next 2Y-2.69%
EPS Next 3Y0.5%
EPS Next 5Y10.92%
Revenue Next Year-1.17%
Revenue Next 2Y-2.57%
Revenue Next 3Y-1.3%
Revenue Next 5Y-4.76%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
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
With a Price/Earnings ratio of 10.42, the valuation of EQNR can be described as very reasonable.
Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than the industry average as 68.25% of the companies are valued more expensively.
EQNR's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.13.
Based on the Price/Forward Earnings ratio of 7.86, the valuation of EQNR can be described as very cheap.
EQNR's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. EQNR is cheaper than 79.37% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.35, EQNR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.42 | ||
| Fwd PE | 7.86 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaper than 95.24% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, EQNR is valued cheaper than 80.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.71 | ||
| EV/EBITDA | 1.37 |
4.3 Compensation for Growth
EQNR has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.62
EPS Next 2Y-2.69%
EPS Next 3Y0.5%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 6.13%, which is a nice return.
Compared to an average industry Dividend Yield of 56.25, EQNR pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.39, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.13% |
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
82.65% of the earnings are spent on dividend by EQNR. 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-2.69%
EPS Next 3Y0.5%
OSL:EQNR (11/6/2025, 4:25:30 PM)
244.9
-2.2 (-0.89%)
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 Cap616.45B
Revenue(TTM)102.50B
Net Income(TTM)8.22B
Analysts53.33
Price Target255.98 (4.52%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.13% |
Yearly Dividend30.43
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)-4.62%
PT rev (3m)-5.89%
EPS NQ rev (1m)-15.64%
EPS NQ rev (3m)-24.14%
EPS NY rev (1m)0%
EPS NY rev (3m)-11.41%
Revenue NQ rev (1m)0.14%
Revenue NQ rev (3m)0.88%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.6%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.42 | ||
| Fwd PE | 7.86 | ||
| P/S | 0.57 | ||
| P/FCF | 7.71 | ||
| P/OCF | 2.87 | ||
| P/B | 1.44 | ||
| P/tB | 1.7 | ||
| EV/EBITDA | 1.37 |
EPS(TTM)23.51
EY9.6%
EPS(NY)31.17
Fwd EY12.73%
FCF(TTM)31.78
FCFY12.98%
OCF(TTM)85.28
OCFY34.82%
SpS432.42
BVpS170.27
TBVpS144.39
PEG (NY)N/A
PEG (5Y)0.62
Graham Number300.11
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%
ROICexgc growth 3Y-4.45%
ROICexgc 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
WACC8.27%
ROIC/WACC2.8
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-7.52%
EPS Next 2Y-2.69%
EPS Next 3Y0.5%
EPS Next 5Y10.92%
Revenue 1Y (TTM)-4.07%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%2.08%
Revenue Next Year-1.17%
Revenue Next 2Y-2.57%
Revenue Next 3Y-1.3%
Revenue Next 5Y-4.76%
EBIT growth 1Y-6.21%
EBIT growth 3Y-4.07%
EBIT growth 5Y15.92%
EBIT Next Year30.46%
EBIT Next 3Y6.74%
EBIT Next 5Y3.17%
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%
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 8 / 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 10.42 and the Price/Book (PB) ratio is 1.44.
Can you provide the financial health for EQNR stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 10.