EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
231.6 NOK
+1.6 (+0.7%)
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. 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. These ratings would make EQNR suitable 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.
Each year in the past 5 years EQNR had a positive operating cash flow.
1.2 Ratios
EQNR has a better Return On Assets (4.22%) than 62.32% of its industry peers.
The Return On Equity of EQNR (14.13%) is better than 78.26% of its industry peers.
EQNR's Return On Invested Capital of 22.60% is amongst the best of the industry. EQNR outperforms 98.55% of its industry peers.
The Average Return On Invested Capital over the past 3 years 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
EQNR has a Profit Margin of 5.35%. This is comparable to the rest of the industry: EQNR outperforms 43.48% 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 73.91% of its industry peers.
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 56.52% 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
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), 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.
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.
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.
With a decent Debt to FCF ratio value of 4.56, EQNR is doing good in the industry, outperforming 66.67% of the companies in the same industry.
A Debt/Equity ratio of 0.62 indicates that EQNR is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.62, EQNR is doing worse than 60.87% of the companies in the same industry.
| 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.
EQNR's Current ratio of 1.23 is in line compared to the rest of the industry. EQNR outperforms 44.93% of its industry peers.
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.
With a decent Quick ratio value of 1.12, EQNR is doing good in 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.
EQNR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.82% yearly.
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
The Earnings Per Share is expected to decrease by -0.15% on average over the next years.
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
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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 9.92, 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's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.76.
The Price/Forward Earnings ratio is 7.75, 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 81.16% of the companies in the same industry.
EQNR is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.96, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.92 | ||
| Fwd PE | 7.75 |
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.
82.61% 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 | 8.43 | ||
| EV/EBITDA | 1.22 |
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 6.34%, 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.
Compared to an average S&P500 Dividend Yield of 2.31, EQNR pays a better dividend.
| 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
101.05% of the earnings are spent on dividend by EQNR. This is not a sustainable payout ratio.
The Dividend Rate of EQNR has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP101.05%
EPS Next 2Y-4.37%
EPS Next 3Y-0.36%
OSL:EQNR (12/11/2025, 7:00:00 PM)
231.6
+1.6 (+0.7%)
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 Cap581.29B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target249.77 (7.85%)
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 | 9.92 | ||
| 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 | 1.22 |
EPS(TTM)23.35
EY10.08%
EPS(NY)29.89
Fwd EY12.9%
FCF(TTM)27.47
FCFY11.86%
OCF(TTM)82.04
OCFY35.42%
SpS432.99
BVpS163.89
TBVpS137.93
PEG (NY)N/A
PEG (5Y)0.59
Graham Number293.44
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 9.92 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.