EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
232.7 NOK
+1.1 (+0.47%)
Overall EQNR gets a fundamental rating of 6 out of 10. We evaluated EQNR against 69 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 valued quite cheap, but it does not seem to be growing. 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.
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
EQNR has a Return On Assets of 4.22%. This is in the better half of the industry: EQNR outperforms 62.32% of its industry peers.
Looking at the Return On Equity, with a value of 14.13%, EQNR is in the better half of the industry, outperforming 78.26% of the companies in the same industry.
The Return On Invested Capital of EQNR (22.60%) is better than 98.55% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for EQNR is significantly above the industry average of 9.20%.
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
Looking at the Profit Margin, with a value of 5.35%, EQNR is in line with its industry, outperforming 43.48% of the companies in the same industry.
In the last couple of years the Profit Margin of EQNR has grown nicely.
The Operating Margin of EQNR (27.99%) is better than 73.91% of its industry peers.
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
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.
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 2.44. 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.
EQNR has a Altman-Z score of 2.44. This is in the better half of the industry: EQNR outperforms 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.
The Debt to FCF ratio of EQNR (4.56) is better than 66.67% of its industry peers.
A Debt/Equity ratio of 0.62 indicates that EQNR is somewhat dependend on debt financing.
EQNR has a Debt to Equity ratio of 0.62. This is in the lower half of the industry: EQNR underperforms 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
A Current Ratio of 1.23 indicates that EQNR should not have too much problems paying its short term obligations.
The Current ratio of EQNR (1.23) 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.
Looking at the Quick ratio, with a value of 1.12, EQNR is in the better half of the industry, outperforming 60.87% 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.
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.
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
EQNR is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -0.15% yearly.
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-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 10.02 indicates a reasonable valuation of EQNR.
Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than 76.81% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 26.54, EQNR is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 7.83, the valuation of EQNR can be described as very cheap.
81.16% of the companies in the same industry are more expensive than EQNR, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 23.78. EQNR is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.02 | ||
| Fwd PE | 7.83 |
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.
Based on the Price/Free Cash Flow ratio, EQNR is valued cheaply inside the industry as 81.16% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.52 | ||
| 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)0.6
EPS Next 2Y-4.37%
EPS Next 3Y-0.36%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.34%, EQNR is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.80, 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 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
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
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-4.37%
EPS Next 3Y-0.36%
OSL:EQNR (12/12/2025, 7:00:00 PM)
232.7
+1.1 (+0.47%)
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 Cap584.05B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target249.77 (7.34%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.34% |
Yearly Dividend30.47
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)-7.33%
EPS NQ rev (1m)2.92%
EPS NQ rev (3m)-2.23%
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)0.87%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.02 | ||
| Fwd PE | 7.83 | ||
| P/S | 0.54 | ||
| P/FCF | 8.52 | ||
| P/OCF | 2.85 | ||
| P/B | 1.43 | ||
| P/tB | 1.7 | ||
| EV/EBITDA | 1.24 |
EPS(TTM)23.22
EY9.98%
EPS(NY)29.72
Fwd EY12.77%
FCF(TTM)27.32
FCFY11.74%
OCF(TTM)81.59
OCFY35.06%
SpS430.62
BVpS162.99
TBVpS137.17
PEG (NY)N/A
PEG (5Y)0.6
Graham Number291.81
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-13.97%
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 10.02 and the Price/Book (PB) ratio is 1.43.
Can you provide the financial health for EQNR stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 10.