EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
235.2 NOK
+0.8 (+0.34%)
EQNR gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 69 industry peers in the Oil, Gas & Consumable Fuels industry. EQNR has an excellent profitability rating, but there are some minor concerns on its financial health. EQNR is cheap, but on the other hand it scores bad on growth. 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.
EQNR had a positive operating cash flow in the past year.
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
The Return On Assets of EQNR (4.22%) is better than 60.87% of its industry peers.
EQNR has a better Return On Equity (14.13%) than 75.36% 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 9.00%.
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
Looking at the Profit Margin, with a value of 5.35%, EQNR is in line with its industry, outperforming 43.48% of the companies in the same industry.
In the last couple of years the Profit Margin of EQNR has grown nicely.
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.
EQNR has a Gross Margin (48.66%) which is comparable to the rest of the industry.
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.
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 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.
A Debt/Equity ratio of 0.62 indicates that 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's Current ratio of 1.23 is in line compared to the rest of the industry. EQNR outperforms 46.38% of its industry peers.
A Quick Ratio of 1.12 indicates that EQNR should not have too much problems paying its short term obligations.
EQNR has a better Quick ratio (1.12) than 60.87% of its industry peers.
| 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.
EQNR shows a small growth in Revenue. In the last year, the Revenue has grown by 2.15%.
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.
Based on estimates for the next years, EQNR will show a decrease in Revenue. The Revenue will decrease by -4.76% on average per year.
EPS Next Y-13%
EPS Next 2Y-3.96%
EPS Next 3Y-0.44%
EPS Next 5Y-0.15%
Revenue Next Year-0.1%
Revenue Next 2Y-3.36%
Revenue Next 3Y-1.86%
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 10.15, the valuation of EQNR can be described as very reasonable.
Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than the industry average as 78.26% of the companies are valued more expensively.
EQNR's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.41.
Based on the Price/Forward Earnings ratio of 7.86, the valuation of EQNR can be described as very cheap.
EQNR's Price/Forward Earnings ratio is rather cheap when compared to the industry. EQNR is cheaper than 85.51% of the companies 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 35.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.15 | ||
| Fwd PE | 7.86 |
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 97.10% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of EQNR indicates a somewhat cheap valuation: EQNR is cheaper than 79.71% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.62 | ||
| 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-3.96%
EPS Next 3Y-0.44%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 6.48%, which is a nice return.
EQNR's Dividend Yield is rather good when compared to the industry average which is at 7.87. EQNR pays more dividend than 81.16% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.48% |
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-3.96%
EPS Next 3Y-0.44%
OSL:EQNR (12/4/2025, 4:26:15 PM)
235.2
+0.8 (+0.34%)
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 Cap590.32B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target250.5 (6.51%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.48% |
Yearly Dividend30.7
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)-5.15%
PT rev (3m)-5.91%
EPS NQ rev (1m)-1.8%
EPS NQ rev (3m)-4.84%
EPS NY rev (1m)-5.93%
EPS NY rev (3m)-5.53%
Revenue NQ rev (1m)3.08%
Revenue NQ rev (3m)0.65%
Revenue NY rev (1m)1.08%
Revenue NY rev (3m)0.84%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.15 | ||
| Fwd PE | 7.86 | ||
| P/S | 0.55 | ||
| P/FCF | 8.62 | ||
| P/OCF | 2.89 | ||
| P/B | 1.45 | ||
| P/tB | 1.72 | ||
| EV/EBITDA | 1.26 |
EPS(TTM)23.18
EY9.86%
EPS(NY)29.93
Fwd EY12.73%
FCF(TTM)27.27
FCFY11.59%
OCF(TTM)81.45
OCFY34.63%
SpS429.87
BVpS162.71
TBVpS136.93
PEG (NY)N/A
PEG (5Y)0.6
Graham Number291.31
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%
EPS Next 2Y-3.96%
EPS Next 3Y-0.44%
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-0.1%
Revenue Next 2Y-3.36%
Revenue Next 3Y-1.86%
Revenue Next 5Y-4.76%
EBIT growth 1Y-3.66%
EBIT growth 3Y-3.87%
EBIT growth 5Y16.06%
EBIT Next Year30.46%
EBIT Next 3Y6.74%
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 10.15 and the Price/Book (PB) ratio is 1.45.
Can you provide the financial health for EQNR stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 10.