EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis

OSL:EQNR • NO0010096985

267.7 NOK
-1.4 (-0.52%)
Last: Feb 13, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

EQNR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 74 industry peers in the Oil, Gas & Consumable Fuels industry. EQNR has an average financial health and profitability rating. EQNR is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

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.
  • EQNR had positive earnings in each of the past 5 years.
  • In the past 5 years EQNR always reported a positive cash flow from operatings.
EQNR.OL Yearly Net Income VS EBIT VS OCF VS FCFEQNR.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B 40B 60B

1.2 Ratios

  • With a Return On Assets value of 3.83%, EQNR perfoms like the industry average, outperforming 55.41% of the companies in the same industry.
  • EQNR has a Return On Equity of 12.48%. This is in the better half of the industry: EQNR outperforms 70.27% of its industry peers.
  • With an excellent Return On Invested Capital value of 20.83%, EQNR belongs to the best of the industry, outperforming 95.95% of the companies in the same industry.
Industry RankSector Rank
ROA 3.83%
ROE 12.48%
ROIC 20.83%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
EQNR.OL Yearly ROA, ROE, ROICEQNR.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40

1.3 Margins

  • Looking at the Profit Margin, with a value of 4.77%, EQNR is doing worse than 60.81% of the companies in the same industry.
  • In the last couple of years the Profit Margin of EQNR has declined.
  • EQNR has a Operating Margin of 25.85%. This is in the better half of the industry: EQNR outperforms 66.22% of its industry peers.
  • In the last couple of years the Operating Margin of EQNR has grown nicely.
  • EQNR has a Gross Margin of 47.87%. This is comparable to the rest of the industry: EQNR outperforms 54.05% of its industry peers.
  • In the last couple of years the Gross Margin of EQNR has declined.
Industry RankSector Rank
OM 25.85%
PM (TTM) 4.77%
GM 47.87%
OM growth 3Y-19.71%
OM growth 5Y27.45%
PM growth 3Y-37.26%
PM growth 5YN/A
GM growth 3Y-9.17%
GM growth 5Y-2.43%
EQNR.OL Yearly Profit, Operating, Gross MarginsEQNR.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20 40 60

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4

2. Health

2.1 Basic Checks

  • EQNR has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • EQNR has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
EQNR.OL Yearly Shares OutstandingEQNR.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B
EQNR.OL Yearly Total Debt VS Total AssetsEQNR.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B

2.2 Solvency

  • The Debt to FCF ratio of EQNR is 5.22, which is a neutral value as it means it would take EQNR, 5.22 years of fcf income to pay off all of its debts.
  • EQNR has a Debt to FCF ratio of 5.22. This is in the better half of the industry: EQNR outperforms 63.51% of its industry peers.
  • EQNR has a Debt/Equity ratio of 0.64. This is a neutral value indicating EQNR is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.64, EQNR perfoms like the industry average, outperforming 41.89% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 5.22
Altman-Z N/A
ROIC/WACC2.46
WACC8.46%
EQNR.OL Yearly LT Debt VS Equity VS FCFEQNR.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B 30B 40B 50B

2.3 Liquidity

  • EQNR has a Current Ratio of 1.24. This is a normal value and indicates that EQNR is financially healthy and should not expect problems in meeting its short term obligations.
  • The Current ratio of EQNR (1.24) is comparable to the rest of the industry.
  • A Quick Ratio of 1.13 indicates that EQNR should not have too much problems paying its short term obligations.
  • With a decent Quick ratio value of 1.13, EQNR is doing good in the industry, outperforming 62.16% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.24
Quick Ratio 1.13
EQNR.OL Yearly Current Assets VS Current LiabilitesEQNR.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

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3

3. Growth

3.1 Past

  • EQNR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -22.98%.
  • The Earnings Per Share has been growing by 54.69% on average over the past years. This is a very strong growth
  • EQNR shows a small growth in Revenue. In the last year, the Revenue has grown by 3.24%.
  • The Revenue has been growing by 18.26% on average over the past years. This is quite good.
EPS 1Y (TTM)-22.98%
EPS 3Y-29.61%
EPS 5Y54.69%
EPS Q2Q%28.57%
Revenue 1Y (TTM)3.24%
Revenue growth 3Y-10.78%
Revenue growth 5Y18.26%
Sales Q2Q%-4.38%

3.2 Future

  • Based on estimates for the next years, EQNR will show a small growth in Earnings Per Share. The EPS will grow by 6.62% on average per year.
  • The Revenue is expected to decrease by -6.53% on average over the next years.
EPS Next Y11.87%
EPS Next 2Y10.2%
EPS Next 3Y8.24%
EPS Next 5Y6.62%
Revenue Next Year-9.15%
Revenue Next 2Y-4.1%
Revenue Next 3Y-6.53%
Revenue Next 5YN/A

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.
EQNR.OL Yearly Revenue VS EstimatesEQNR.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 50B 100B 150B
EQNR.OL Yearly EPS VS EstimatesEQNR.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 2 4 6

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6

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 11.30, the valuation of EQNR can be described as very reasonable.
  • Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than 75.68% of the companies in the same industry.
  • When comparing the Price/Earnings ratio of EQNR to the average of the S&P500 Index (26.68), we can say EQNR is valued rather cheaply.
  • A Price/Forward Earnings ratio of 10.11 indicates a reasonable valuation of EQNR.
  • Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than the industry average as 78.38% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of EQNR to the average of the S&P500 Index (28.06), we can say EQNR is valued rather cheaply.
Industry RankSector Rank
PE 11.3
Fwd PE 10.11
EQNR.OL Price Earnings VS Forward Price EarningsEQNR.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 95.95% of the companies in the same industry are more expensive than EQNR, based on the Enterprise Value to EBITDA ratio.
  • 71.62% of the companies in the same industry are more expensive than EQNR, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 11.71
EV/EBITDA 1.7
EQNR.OL Per share dataEQNR.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 100 200 300 400

4.3 Compensation for Growth

  • EQNR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.95
PEG (5Y)0.21
EPS Next 2Y10.2%
EPS Next 3Y8.24%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • EQNR has a Yearly Dividend Yield of 5.50%, which is a nice return.
  • EQNR's Dividend Yield is rather good when compared to the industry average which is at 5.28. EQNR pays more dividend than 83.78% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.84, EQNR pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.5%

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 94.98% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of EQNR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP94.98%
EPS Next 2Y10.2%
EPS Next 3Y8.24%
EQNR.OL Yearly Income VS Free CF VS DividendEQNR.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10B 20B
EQNR.OL Dividend Payout.EQNR.OL Dividend Payout, showing the Payout Ratio.EQNR.OL Dividend Payout.PayoutRetained Earnings

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EQUINOR ASA

OSL:EQNR (2/13/2026, 7:00:00 PM)

267.7

-1.4 (-0.52%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-04
Earnings (Next)05-06
Inst Owners18.36%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap668.33B
Revenue(TTM)105.83B
Net Income(TTM)5.04B
Analysts50.29
Price Target246.93 (-7.76%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.5%
Yearly Dividend28.82
Dividend Growth(5Y)24.62%
DP94.98%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-5.71%
Min EPS beat(2)-36.86%
Max EPS beat(2)25.44%
EPS beat(4)1
Avg EPS beat(4)-9.04%
Min EPS beat(4)-36.86%
Max EPS beat(4)25.44%
EPS beat(8)4
Avg EPS beat(8)-0.56%
EPS beat(12)6
Avg EPS beat(12)-1.17%
EPS beat(16)8
Avg EPS beat(16)1.03%
Revenue beat(2)2
Avg Revenue beat(2)16.68%
Min Revenue beat(2)10.59%
Max Revenue beat(2)22.78%
Revenue beat(4)4
Avg Revenue beat(4)13.25%
Min Revenue beat(4)8.5%
Max Revenue beat(4)22.78%
Revenue beat(8)6
Avg Revenue beat(8)6.03%
Revenue beat(12)7
Avg Revenue beat(12)1.97%
Revenue beat(16)10
Avg Revenue beat(16)0.82%
PT rev (1m)-0.97%
PT rev (3m)-3.54%
EPS NQ rev (1m)-8.41%
EPS NQ rev (3m)-13.29%
EPS NY rev (1m)-2.38%
EPS NY rev (3m)-6.59%
Revenue NQ rev (1m)16.04%
Revenue NQ rev (3m)15.15%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.99%
Valuation
Industry RankSector Rank
PE 11.3
Fwd PE 10.11
P/S 0.66
P/FCF 11.71
P/OCF 3.5
P/B 1.73
P/tB 2.03
EV/EBITDA 1.7
EPS(TTM)23.68
EY8.85%
EPS(NY)26.49
Fwd EY9.9%
FCF(TTM)22.86
FCFY8.54%
OCF(TTM)76.38
OCFY28.53%
SpS404.74
BVpS154.6
TBVpS131.84
PEG (NY)0.95
PEG (5Y)0.21
Graham Number287
Profitability
Industry RankSector Rank
ROA 3.83%
ROE 12.48%
ROCE 27.06%
ROIC 20.83%
ROICexc 25.76%
ROICexgc 27.78%
OM 25.85%
PM (TTM) 4.77%
GM 47.87%
FCFM 5.65%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-19.71%
OM growth 5Y27.45%
PM growth 3Y-37.26%
PM growth 5YN/A
GM growth 3Y-9.17%
GM growth 5Y-2.43%
F-Score5
Asset Turnover0.8
Health
Industry RankSector Rank
Debt/Equity 0.64
Debt/FCF 5.22
Debt/EBITDA 0.65
Cap/Depr 112.19%
Cap/Sales 13.22%
Interest Coverage 41.14
Cash Conversion 50.14%
Profit Quality 118.5%
Current Ratio 1.24
Quick Ratio 1.13
Altman-Z N/A
F-Score5
WACC8.46%
ROIC/WACC2.46
Cap/Depr(3y)111.52%
Cap/Depr(5y)107.58%
Cap/Sales(3y)11.67%
Cap/Sales(5y)9.97%
Profit Quality(3y)109.15%
Profit Quality(5y)132.47%
High Growth Momentum
Growth
EPS 1Y (TTM)-22.98%
EPS 3Y-29.61%
EPS 5Y54.69%
EPS Q2Q%28.57%
EPS Next Y11.87%
EPS Next 2Y10.2%
EPS Next 3Y8.24%
EPS Next 5Y6.62%
Revenue 1Y (TTM)3.24%
Revenue growth 3Y-10.78%
Revenue growth 5Y18.26%
Sales Q2Q%-4.38%
Revenue Next Year-9.15%
Revenue Next 2Y-4.1%
Revenue Next 3Y-6.53%
Revenue Next 5YN/A
EBIT growth 1Y-11.04%
EBIT growth 3Y-28.36%
EBIT growth 5Y50.72%
EBIT Next Year22.94%
EBIT Next 3Y5.47%
EBIT Next 5Y2.61%
FCF growth 1Y-24.66%
FCF growth 3Y-39.15%
FCF growth 5Y25.63%
OCF growth 1Y-0.69%
OCF growth 3Y-17.16%
OCF growth 5Y13.97%

EQUINOR ASA / EQNR.OL FAQ

What is the ChartMill fundamental rating of EQUINOR ASA (EQNR.OL) stock?

ChartMill assigns a fundamental rating of 5 / 10 to EQNR.OL.


What is the valuation status of EQUINOR ASA (EQNR.OL) stock?

ChartMill assigns a valuation rating of 6 / 10 to EQUINOR ASA (EQNR.OL). This can be considered as Fairly Valued.


How profitable is EQUINOR ASA (EQNR.OL) stock?

EQUINOR ASA (EQNR.OL) has a profitability rating of 5 / 10.


What is the financial health of EQUINOR ASA (EQNR.OL) stock?

The financial health rating of EQUINOR ASA (EQNR.OL) is 4 / 10.


What is the expected EPS growth for EQUINOR ASA (EQNR.OL) stock?

The Earnings per Share (EPS) of EQUINOR ASA (EQNR.OL) is expected to grow by 11.87% in the next year.