EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - OSL:EQNR - NO0010096985 - Common Stock
243.5 NOK
+1.3 (+0.54%)
EQNR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 65 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 has a valuation in line with the averages, but it does not seem to be growing.
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.
Each year in the past 5 years EQNR had a positive operating cash flow.
1.2 Ratios
The Return On Assets of EQNR (5.91%) is better than 66.15% of its industry peers.
EQNR's Return On Equity of 19.60% is fine compared to the rest of the industry. EQNR outperforms 78.46% of its industry peers.
EQNR's Return On Invested Capital of 23.14% is amongst the best of the industry. EQNR outperforms 96.92% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EQNR is significantly above the industry average of 9.96%.
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
Looking at the Profit Margin, with a value of 7.72%, EQNR is in line with its industry, outperforming 55.38% of the companies in the same industry.
EQNR's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 28.86%, EQNR is in the better half of the industry, outperforming 69.23% of the companies in the same industry.
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 56.92% of its industry peers.
EQNR's Gross Margin has been stable in the last couple of years.
| 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.
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 2.45. 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.
The Altman-Z score of EQNR (2.45) is better than 69.23% of its industry peers.
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 72.31% 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.
The Debt to Equity ratio of EQNR (0.58) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.58 | ||
| Debt/FCF | 4.39 | ||
| Altman-Z | 2.45 |
ROIC/WACC2.81
WACC8.22%
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 of 1.23. This is in the lower half of the industry: EQNR underperforms 60.00% 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.
EQNR has a Quick ratio (1.12) which is in line with 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 -18.81%.
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 been growing slightly by 1.09% 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)-18.81%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-23.81%
Revenue 1Y (TTM)1.09%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%-1.54%
3.2 Future
EQNR is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.89% yearly.
EQNR is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -4.76% yearly.
EPS Next Y-7.91%
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
EPS Next 5Y3.89%
Revenue Next Year-0.5%
Revenue Next 2Y-2.59%
Revenue Next 3Y-1.38%
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 9.11 indicates a reasonable valuation of EQNR.
Compared to the rest of the industry, the Price/Earnings ratio of EQNR indicates a somewhat cheap valuation: EQNR is cheaper than 75.38% of the companies listed in the same industry.
EQNR's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.20.
A Price/Forward Earnings ratio of 8.08 indicates a reasonable valuation of EQNR.
Compared to the rest of the industry, the Price/Forward Earnings ratio of EQNR indicates a somewhat cheap valuation: EQNR is cheaper than 76.92% of the companies listed in the same industry.
EQNR's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.70.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.11 | ||
| Fwd PE | 8.08 |
4.2 Price Multiples
EQNR's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. EQNR is cheaper than 95.38% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, EQNR is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8 | ||
| EV/EBITDA | 1.41 |
4.3 Compensation for Growth
The decent profitability rating of EQNR may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.54
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 6.06%, which is a nice return.
EQNR's Dividend Yield is a higher than the industry average which is at 54.34.
Compared to an average S&P500 Dividend Yield of 2.38, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.06% |
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 82.65% of its income as dividend. 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-2.39%
EPS Next 3Y0.63%
OSL:EQNR (9/18/2025, 4:26:15 PM)
243.5
+1.3 (+0.54%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners18.35%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap614.93B
Analysts55
Price Target268.38 (10.22%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.06% |
Yearly Dividend29.84
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)0.34%
PT rev (3m)0.22%
EPS NQ rev (1m)-4.41%
EPS NQ rev (3m)-10.27%
EPS NY rev (1m)-11.79%
EPS NY rev (3m)-11.79%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)5.43%
Revenue NY rev (1m)1.28%
Revenue NY rev (3m)5.45%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.11 | ||
| Fwd PE | 8.08 | ||
| P/S | 0.59 | ||
| P/FCF | 8 | ||
| P/OCF | 2.98 | ||
| P/B | 1.49 | ||
| P/tB | 1.76 | ||
| EV/EBITDA | 1.41 |
EPS(TTM)26.72
EY10.97%
EPS(NY)30.13
Fwd EY12.37%
FCF(TTM)30.43
FCFY12.5%
OCF(TTM)81.66
OCFY33.54%
SpS414.07
BVpS163.04
TBVpS138.26
PEG (NY)N/A
PEG (5Y)0.54
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%
ROICexcg growth 3Y-4.45%
ROICexcg 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 | 2.45 |
F-Score4
WACC8.22%
ROIC/WACC2.81
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)-18.81%
EPS 3Y-2.27%
EPS 5Y16.82%
EPS Q2Q%-23.81%
EPS Next Y-7.91%
EPS Next 2Y-2.39%
EPS Next 3Y0.63%
EPS Next 5Y3.89%
Revenue 1Y (TTM)1.09%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%-1.54%
Revenue Next Year-0.5%
Revenue Next 2Y-2.59%
Revenue Next 3Y-1.38%
Revenue Next 5Y-4.76%
EBIT growth 1Y-6.21%
EBIT growth 3Y-4.07%
EBIT growth 5Y15.92%
EBIT Next Year29.75%
EBIT Next 3Y6.16%
EBIT Next 5Y2.94%
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%