EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
232.6 NOK
-0.5 (-0.21%)
We assign a fundamental rating of 6 out of 10 to EQNR. EQNR was compared to 69 industry peers in the Oil, Gas & Consumable Fuels industry. While EQNR has a great profitability rating, 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
EQNR had positive earnings in the past year.
EQNR had a positive operating cash flow in the past year.
EQNR had positive earnings in 4 of the past 5 years.
In the past 5 years EQNR always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 4.22%, EQNR is doing good in the industry, outperforming 60.87% of the companies in the same industry.
Looking at the Return On Equity, with a value of 14.13%, EQNR is in the better half of the industry, outperforming 75.36% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 22.60%, EQNR belongs to the top of the industry, outperforming 98.55% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for EQNR is significantly above the industry average of 9.00%.
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
The Profit Margin of EQNR (5.35%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of EQNR has grown nicely.
Looking at the Operating Margin, with a value of 27.99%, EQNR is in the better half of the industry, outperforming 73.91% of the companies in the same industry.
EQNR's Operating Margin has improved in the last couple of years.
The Gross Margin of EQNR (48.66%) is comparable to the rest of the 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
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so EQNR 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
An Altman-Z score of 2.44 indicates that EQNR is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of EQNR (2.44) is better than 63.77% 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 has a better Debt to FCF ratio (4.56) than 66.67% 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 worse Debt to Equity ratio (0.62) than 60.87% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.56 | ||
| Altman-Z | 2.44 |
ROIC/WACC2.74
WACC8.25%
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 46.38% of its industry peers.
A Quick Ratio of 1.12 indicates that EQNR should not have too much problems paying its short term obligations.
The Quick ratio of EQNR (1.12) is better than 60.87% 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.
The Earnings Per Share has been growing by 16.82% on average over the past years. This is quite good.
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
EQNR is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.15% yearly.
The Revenue is expected to decrease by -4.76% on average over the next years.
EPS Next Y-13%
EPS Next 2Y-3.96%
EPS Next 3Y-0.44%
EPS Next 5Y-0.15%
Revenue Next Year-0.1%
Revenue Next 2Y-3.36%
Revenue Next 3Y-1.86%
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
With a Price/Earnings ratio of 9.94, the valuation of EQNR can be described as very reasonable.
76.81% of the companies in the same industry are more expensive than EQNR, based on the Price/Earnings ratio.
EQNR is valuated cheaply when we compare the Price/Earnings ratio to 26.11, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 7.70, which 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 85.51% of the companies in the same industry.
EQNR is valuated cheaply when we compare the Price/Forward Earnings ratio to 36.21, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.94 | ||
| Fwd PE | 7.7 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaply inside the industry as 97.10% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of EQNR indicates a rather cheap valuation: EQNR is cheaper than 81.16% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.45 | ||
| EV/EBITDA | 1.24 |
4.3 Compensation for Growth
EQNR has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.59
EPS Next 2Y-3.96%
EPS Next 3Y-0.44%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 6.48%, which is a nice return.
Compared to an average industry Dividend Yield of 7.87, EQNR pays a better dividend. On top of this EQNR pays more dividend than 81.16% of the companies listed in the same industry.
EQNR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.32.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.48% |
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.
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-3.96%
EPS Next 3Y-0.44%
OSL:EQNR (12/1/2025, 4:26:15 PM)
232.6
-0.5 (-0.21%)
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 Cap583.80B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target250.5 (7.7%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.48% |
Yearly Dividend30.7
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)-5.15%
PT rev (3m)-5.91%
EPS NQ rev (1m)-1.8%
EPS NQ rev (3m)-4.84%
EPS NY rev (1m)-5.93%
EPS NY rev (3m)-5.53%
Revenue NQ rev (1m)3.08%
Revenue NQ rev (3m)0.65%
Revenue NY rev (1m)1.08%
Revenue NY rev (3m)0.84%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.94 | ||
| Fwd PE | 7.7 | ||
| P/S | 0.54 | ||
| P/FCF | 8.45 | ||
| P/OCF | 2.83 | ||
| P/B | 1.42 | ||
| P/tB | 1.68 | ||
| EV/EBITDA | 1.24 |
EPS(TTM)23.39
EY10.06%
EPS(NY)30.21
Fwd EY12.99%
FCF(TTM)27.53
FCFY11.83%
OCF(TTM)82.21
OCFY35.34%
SpS433.9
BVpS164.23
TBVpS138.22
PEG (NY)N/A
PEG (5Y)0.59
Graham Number293.99
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 | 2.44 |
F-Score5
WACC8.25%
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%
EPS Next 2Y-3.96%
EPS Next 3Y-0.44%
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-0.1%
Revenue Next 2Y-3.36%
Revenue Next 3Y-1.86%
Revenue Next 5Y-4.76%
EBIT growth 1Y-3.66%
EBIT growth 3Y-3.87%
EBIT growth 5Y16.06%
EBIT Next Year30.46%
EBIT Next 3Y6.74%
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 9.94 and the Price/Book (PB) ratio is 1.42.
Can you provide the financial health for EQNR stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 10.