EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
232 NOK
+0.9 (+0.39%)
Taking everything into account, EQNR scores 6 out of 10 in our fundamental rating. EQNR was compared to 68 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 has a bad growth rate and is valued cheaply. These ratings would make EQNR suitable for value investing!
1. Profitability
1.1 Basic Checks
In the past year EQNR was profitable.
EQNR had a positive operating cash flow in the past year.
EQNR had positive earnings in 4 of the past 5 years.
Each year in the past 5 years EQNR had a positive operating cash flow.
1.2 Ratios
EQNR has a Return On Assets of 4.22%. This is in the better half of the industry: EQNR outperforms 61.76% of its industry peers.
EQNR's Return On Equity of 14.13% is fine compared to the rest of the industry. EQNR outperforms 76.47% of its industry peers.
EQNR has a Return On Invested Capital of 22.60%. This is amongst the best in the industry. EQNR outperforms 98.53% of its industry peers.
EQNR had an Average Return On Invested Capital over the past 3 years of 33.11%. This is significantly above the industry average of 9.16%.
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 47.06% 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 27.99%, EQNR is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
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 55.88% of its industry peers.
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.
EQNR has less shares outstanding than it did 1 year ago.
EQNR has less shares outstanding than it did 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 2.44. 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 (2.44) is better than 69.12% of its industry peers.
EQNR has a debt to FCF ratio of 4.56. This is a neutral value as EQNR would need 4.56 years to pay back of all of its debts.
The Debt to FCF ratio of EQNR (4.56) is better than 72.06% of its industry peers.
A Debt/Equity ratio of 0.62 indicates that EQNR is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.62, EQNR is in line with its industry, outperforming 44.12% 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's Current ratio of 1.23 is in line compared to the rest of the industry. EQNR outperforms 48.53% 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's Quick ratio of 1.12 is fine compared to the rest of the industry. EQNR outperforms 61.76% 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.
The Earnings Per Share has been growing by 16.82% on average over the past years. This is quite good.
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
Based on estimates for the next years, EQNR will show a decrease in Earnings Per Share. The EPS will decrease by -0.15% on average per year.
The Revenue is expected to decrease by -4.76% on average over the next years.
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.
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 9.86, the valuation of EQNR can be described as reasonable.
Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than 76.47% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 26.15. EQNR is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 7.63 indicates a rather cheap valuation of EQNR.
EQNR's Price/Forward Earnings ratio is rather cheap when compared to the industry. EQNR is cheaper than 85.29% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of EQNR to the average of the S&P500 Index (36.12), we can say EQNR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.86 | ||
| Fwd PE | 7.63 |
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 97.06% of the companies listed in the same industry.
80.88% 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 | 8.39 | ||
| EV/EBITDA | 1.22 |
4.3 Compensation for Growth
The decent profitability rating of EQNR may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.59
EPS Next 2Y-3.96%
EPS Next 3Y-0.44%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 6.27%, which is a nice return.
EQNR's Dividend Yield is a higher than the industry average which is at 53.12.
Compared to an average S&P500 Dividend Yield of 2.41, EQNR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.27% |
5.2 History
The dividend of EQNR is nicely growing with an annual growth rate of 24.62%!
Dividend Growth(5Y)24.62%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
101.05% of the earnings are spent on dividend by EQNR. 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 (11/27/2025, 4:19:52 PM)
232
+0.9 (+0.39%)
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 Cap582.91B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target250.5 (7.97%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.27% |
Yearly Dividend30.9
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)-0.36%
EPS NQ rev (3m)-4.84%
EPS NY rev (1m)-5.93%
EPS NY rev (3m)-5.53%
Revenue NQ rev (1m)2.92%
Revenue NQ rev (3m)0.65%
Revenue NY rev (1m)1.08%
Revenue NY rev (3m)0.84%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.86 | ||
| Fwd PE | 7.63 | ||
| P/S | 0.53 | ||
| P/FCF | 8.39 | ||
| P/OCF | 2.81 | ||
| P/B | 1.41 | ||
| P/tB | 1.67 | ||
| EV/EBITDA | 1.22 |
EPS(TTM)23.54
EY10.15%
EPS(NY)30.39
Fwd EY13.1%
FCF(TTM)27.66
FCFY11.92%
OCF(TTM)82.62
OCFY35.61%
SpS436.05
BVpS165.05
TBVpS138.9
PEG (NY)N/A
PEG (5Y)0.59
Graham Number295.67
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%
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 9.86 and the Price/Book (PB) ratio is 1.41.
Can you provide the financial health for EQNR stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 6 / 10.