EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe • Euronext Oslo • OSL:EQNR • NO0010096985
257 NOK
-0.4 (-0.16%)
Last: Jan 30, 2026, 04:26 PM
EQNR gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 71 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 is cheap, but on the other hand it scores bad on growth. These ratings would make EQNR suitable for value investing!
1. Profitability
1.1 Basic Checks
- In the past year EQNR was profitable.
- EQNR had a positive operating cash flow in the past year.
- 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 61.97% of its industry peers.
- With an excellent Return On Equity value of 14.13%, EQNR belongs to the best of the industry, outperforming 80.28% of the companies in the same industry.
- EQNR has a Return On Invested Capital of 22.60%. This is amongst the best in the industry. EQNR outperforms 98.59% 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 8.91%.
- 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
- EQNR's Profit Margin of 5.35% is in line compared to the rest of the industry. EQNR outperforms 43.66% of its industry peers.
- EQNR's Profit Margin has improved in the last couple of years.
- EQNR's Operating Margin of 27.99% is fine compared to the rest of the industry. EQNR outperforms 71.83% of its industry peers.
- In the last couple of years the Operating Margin of EQNR has grown nicely.
- With a Gross Margin value of 48.66%, EQNR perfoms like the industry average, outperforming 52.11% 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 | 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.
- 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.
- Compared to 1 year ago, EQNR has a worse debt to assets ratio.
2.2 Solvency
- EQNR has an Altman-Z score of 2.50. 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's Altman-Z score of 2.50 is fine compared to the rest of the industry. EQNR outperforms 63.38% 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's Debt to FCF ratio of 4.56 is fine compared to the rest of the industry. EQNR outperforms 64.79% of its industry peers.
- A Debt/Equity ratio of 0.62 indicates that EQNR is somewhat dependend on debt financing.
- With a Debt to Equity ratio value of 0.62, EQNR is not doing good in the industry: 60.56% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.56 | ||
| Altman-Z | 2.5 |
ROIC/WACC2.73
WACC8.28%
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's Current ratio of 1.23 is in line compared to the rest of the industry. EQNR outperforms 46.48% of its industry peers.
- A Quick Ratio of 1.12 indicates that EQNR should not have too much problems paying its short term obligations.
- EQNR's Quick ratio of 1.12 is fine compared to the rest of the industry. EQNR outperforms 60.56% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.23 | ||
| Quick Ratio | 1.12 |
3. Growth
3.1 Past
- EQNR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -28.57%.
- 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 2.15%.
- 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
- The Earnings Per Share is expected to decrease by -0.02% on average over the next years.
- The Revenue is expected to decrease by -4.76% on average over the next years.
EPS Next Y-17.83%
EPS Next 2Y-7.18%
EPS Next 3Y-2.2%
EPS Next 5Y-0.02%
Revenue Next Year0.77%
Revenue Next 2Y-4.32%
Revenue Next 3Y-2.5%
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
- EQNR is valuated reasonably with a Price/Earnings ratio of 11.71.
- Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than 76.06% of the companies in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 28.39, EQNR is valued rather cheaply.
- A Price/Forward Earnings ratio of 9.71 indicates a reasonable valuation of EQNR.
- Based on the Price/Forward Earnings ratio, EQNR is valued cheaper than 81.69% of the companies in the same industry.
- EQNR is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.72, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.71 | ||
| Fwd PE | 9.71 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaply inside the industry as 95.77% of the companies are valued more expensively.
- 78.87% 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 | 9.91 | ||
| EV/EBITDA | 1.47 |
4.3 Compensation for Growth
- The excellent profitability rating of EQNR may justify a higher PE ratio.
- A cheap valuation may be justified as EQNR's earnings are expected to decrease with -2.20% in the coming years.
PEG (NY)N/A
PEG (5Y)0.7
EPS Next 2Y-7.18%
EPS Next 3Y-2.2%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 6.01%, EQNR is a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 5.24, EQNR pays a better dividend. On top of this EQNR pays more dividend than 83.10% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.82, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.01% |
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
- EQNR pays out 101.05% of its income as dividend. 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-7.18%
EPS Next 3Y-2.2%
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 8 / 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 -17.83% in the next year.