EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
235.55 NOK
+0.25 (+0.11%)
Taking everything into account, EQNR scores 6 out of 10 in our fundamental rating. 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. 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.
In the past year EQNR had a positive cash flow from operations.
Of the past 5 years EQNR 4 years were profitable.
In the past 5 years EQNR always reported a positive cash flow from operatings.
1.2 Ratios
EQNR's Return On Assets of 4.22% is fine compared to the rest 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.
EQNR has a better Return On Invested Capital (22.60%) than 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
The Profit Margin of EQNR (5.35%) is comparable to the rest of the industry.
EQNR's Profit Margin has improved in the last couple of years.
EQNR has a better Operating Margin (27.99%) than 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
EQNR has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for EQNR has been reduced compared to 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
An Altman-Z score of 2.45 indicates that EQNR is not a great score, but indicates only limited risk for bankruptcy at the moment.
EQNR's Altman-Z score of 2.45 is fine compared to the rest 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.
EQNR has a Debt to FCF ratio of 4.56. This is in the better half of the industry: EQNR outperforms 66.67% of its industry peers.
EQNR has a Debt/Equity ratio of 0.62. This is a neutral value indicating EQNR is somewhat dependend on debt financing.
The Debt to Equity ratio of EQNR (0.62) is worse than 60.87% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.56 | ||
| Altman-Z | 2.45 |
ROIC/WACC2.74
WACC8.25%
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 (1.23) which is comparable to the rest of the industry.
A Quick Ratio of 1.12 indicates that EQNR should not have too much problems paying 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
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.
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
The Earnings Per Share is expected to decrease by -0.15% on average over the next years.
The Revenue is expected to decrease by -4.76% on average over the next years.
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.
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
With a Price/Earnings ratio of 10.13, 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 26.34.
The Price/Forward Earnings ratio is 7.91, which indicates a rather cheap valuation of EQNR.
Based on the Price/Forward Earnings ratio, EQNR is valued cheaply inside the industry as 84.06% of the companies are valued more expensively.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.56, EQNR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.13 | ||
| Fwd PE | 7.91 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, EQNR is valued cheaper than 97.10% of the companies in the same industry.
81.16% 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 | 8.61 | ||
| EV/EBITDA | 1.26 |
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.
EQNR's Dividend Yield is rather good when compared to the industry average which is at 7.80. EQNR pays more dividend than 81.16% of the companies 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
EQNR pays out 101.05% of its income as dividend. 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 (12/9/2025, 1:03:56 PM)
235.55
+0.25 (+0.11%)
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 Cap591.20B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target249.77 (6.04%)
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 | 10.13 | ||
| Fwd PE | 7.91 | ||
| P/S | 0.55 | ||
| P/FCF | 8.61 | ||
| P/OCF | 2.88 | ||
| P/B | 1.44 | ||
| P/tB | 1.71 | ||
| EV/EBITDA | 1.26 |
EPS(TTM)23.26
EY9.87%
EPS(NY)29.78
Fwd EY12.64%
FCF(TTM)27.37
FCFY11.62%
OCF(TTM)81.73
OCFY34.7%
SpS431.37
BVpS163.28
TBVpS137.41
PEG (NY)N/A
PEG (5Y)0.6
Graham Number292.32
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 | 2.45 |
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 10.13 and the Price/Book (PB) ratio is 1.44.
Can you provide the financial health for EQNR stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 10.