EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
232 NOK
+1.8 (+0.78%)
EQNR gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 70 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
In the past year EQNR was profitable.
In the past year EQNR had a positive cash flow from operations.
Of the past 5 years EQNR 4 years were profitable.
EQNR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
EQNR has a better Return On Assets (4.22%) than 62.86% of its industry peers.
EQNR's Return On Equity of 14.13% is fine compared to the rest of the industry. EQNR outperforms 75.71% of its industry peers.
EQNR has a Return On Invested Capital of 22.60%. This is amongst the best in the industry. EQNR outperforms 98.57% 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 9.15%.
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 has a Profit Margin of 5.35%. This is comparable to the rest of the industry: EQNR outperforms 45.71% 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 71.43% of its industry peers.
EQNR's Operating Margin has improved in the last couple of years.
EQNR's Gross Margin of 48.66% is in line compared to the rest of the industry. EQNR outperforms 51.43% of its industry peers.
In the last couple of years the Gross Margin of EQNR has remained more or less at the same level.
| 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
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
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.
EQNR has a better Altman-Z score (2.44) than 70.00% 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.
Looking at the Debt to FCF ratio, with a value of 4.56, EQNR is in the better half of the industry, outperforming 70.00% of the companies in the same industry.
EQNR has a Debt/Equity ratio of 0.62. This is a neutral value indicating 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 60.00% 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 has a Current ratio (1.23) which 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.
EQNR's Quick ratio of 1.12 is in line compared to the rest of the industry. EQNR outperforms 60.00% 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%.
EQNR shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.82% yearly.
EQNR shows a small growth in Revenue. In the last year, the Revenue has grown by 2.15%.
The Revenue has been growing by 10.24% on average over the past years. This is quite good.
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.
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
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 10.07, the valuation of EQNR can be described as reasonable.
72.86% of the companies in the same industry are more expensive than EQNR, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 26.59, EQNR is valued rather cheaply.
The Price/Forward Earnings ratio is 7.87, which indicates a rather cheap valuation of EQNR.
Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
When comparing the Price/Forward Earnings ratio of EQNR to the average of the S&P500 Index (24.03), we can say EQNR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.07 | ||
| Fwd PE | 7.87 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of EQNR indicates a rather cheap valuation: EQNR is cheaper than 97.14% of the companies listed in the same industry.
EQNR's Price/Free Cash Flow ratio is rather cheap when compared to the industry. EQNR is cheaper than 81.43% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.56 | ||
| EV/EBITDA | 1.25 |
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 6.49%, EQNR is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.63, EQNR pays a better dividend. On top of this EQNR pays more dividend than 81.43% 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 1.88.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.49% |
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 (12/23/2025, 7:00:00 PM)
232
+1.8 (+0.78%)
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 Cap582.29B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price TargetN/A
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.49% |
Yearly Dividend30.71
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)-6.93%
EPS NQ rev (1m)1.23%
EPS NQ rev (3m)-0.91%
EPS NY rev (1m)-1.11%
EPS NY rev (3m)-6.58%
Revenue NQ rev (1m)-1.04%
Revenue NQ rev (3m)-0.4%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)0.43%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.07 | ||
| Fwd PE | 7.87 | ||
| P/S | 0.54 | ||
| P/FCF | 8.56 | ||
| P/OCF | 2.87 | ||
| P/B | 1.43 | ||
| P/tB | 1.7 | ||
| EV/EBITDA | 1.25 |
EPS(TTM)23.03
EY9.93%
EPS(NY)29.49
Fwd EY12.71%
FCF(TTM)27.1
FCFY11.68%
OCF(TTM)80.94
OCFY34.89%
SpS427.19
BVpS161.69
TBVpS136.08
PEG (NY)N/A
PEG (5Y)0.6
Graham Number289.46
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 10.07 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.