EQUINOR ASA (EQNR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:EQNR - NO0010096985 - Common Stock
237 NOK
+1.8 (+0.77%)
Overall EQNR gets a fundamental rating of 6 out of 10. We evaluated EQNR against 67 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.
EQNR had a positive operating cash flow in the past year.
EQNR had positive earnings in 4 of the past 5 years.
In the past 5 years EQNR always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 4.22%, EQNR is doing good in the industry, outperforming 62.69% of the companies in the same industry.
The Return On Equity of EQNR (14.13%) is better than 76.12% of its industry peers.
EQNR has a Return On Invested Capital of 22.60%. This is amongst the best in the industry. EQNR outperforms 98.51% of its industry peers.
The Average Return On Invested Capital over the past 3 years for EQNR is significantly above the industry average of 9.19%.
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
With a Profit Margin value of 5.35%, EQNR perfoms like the industry average, outperforming 43.28% 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 71.64% of the companies in the same industry.
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 52.24% 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
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so EQNR is creating value.
The number of shares outstanding for EQNR has been reduced compared to 1 year ago.
EQNR has less shares outstanding than it did 5 years ago.
EQNR has a worse debt/assets ratio than last year.
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.
EQNR has a better Altman-Z score (2.45) than 67.16% 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.
EQNR's Debt to FCF ratio of 4.56 is fine compared to the rest of the industry. EQNR outperforms 68.66% 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 41.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.62 | ||
| Debt/FCF | 4.56 | ||
| Altman-Z | 2.45 |
ROIC/WACC2.74
WACC8.26%
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.
With a Current ratio value of 1.23, EQNR perfoms like the industry average, outperforming 47.76% of the companies in the same industry.
A Quick Ratio of 1.12 indicates that EQNR should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.12, EQNR is in line with its industry, outperforming 59.70% of the companies in the same industry.
| 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.
Measured over the past years, EQNR shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.82% on average per year.
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
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-16.15%
EPS Next 2Y-6.05%
EPS Next 3Y-1.5%
EPS Next 5Y-0.15%
Revenue Next Year0.77%
Revenue Next 2Y-4.32%
Revenue Next 3Y-2.5%
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.
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
EQNR is valuated reasonably with a Price/Earnings ratio of 10.22.
Based on the Price/Earnings ratio, EQNR is valued a bit cheaper than the industry average as 76.12% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 26.51, EQNR is valued rather cheaply.
EQNR is valuated reasonably with a Price/Forward Earnings ratio of 8.27.
Based on the Price/Forward Earnings ratio, EQNR is valued a bit cheaper than 79.10% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 23.13. EQNR is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.22 | ||
| Fwd PE | 8.27 |
4.2 Price Multiples
97.01% of the companies in the same industry are more expensive than EQNR, based on the Enterprise Value to EBITDA ratio.
Based on the Price/Free Cash Flow ratio, EQNR is valued cheaply inside the industry as 80.60% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.69 | ||
| EV/EBITDA | 1.27 |
4.3 Compensation for Growth
The decent profitability rating of EQNR may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)0.61
EPS Next 2Y-6.05%
EPS Next 3Y-1.5%
5. Dividend
5.1 Amount
EQNR has a Yearly Dividend Yield of 6.37%, which is a nice return.
Compared to an average industry Dividend Yield of 5.76, EQNR pays a bit more dividend than its industry peers.
EQNR's Dividend Yield is rather good when compared to the S&P500 average which is at 2.00.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.37% |
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
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-6.05%
EPS Next 3Y-1.5%
OSL:EQNR (12/30/2025, 7:00:00 PM)
237
+1.8 (+0.77%)
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 Cap594.84B
Revenue(TTM)107.07B
Net Income(TTM)5.73B
Analysts49.44
Price Target249.35 (5.21%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.37% |
Yearly Dividend30.23
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)-0.46%
PT rev (3m)-7.09%
EPS NQ rev (1m)1.23%
EPS NQ rev (3m)-0.91%
EPS NY rev (1m)-3.62%
EPS NY rev (3m)-9.34%
Revenue NQ rev (1m)-1.04%
Revenue NQ rev (3m)-0.4%
Revenue NY rev (1m)0.86%
Revenue NY rev (3m)1.27%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.22 | ||
| Fwd PE | 8.27 | ||
| P/S | 0.55 | ||
| P/FCF | 8.69 | ||
| P/OCF | 2.91 | ||
| P/B | 1.46 | ||
| P/tB | 1.73 | ||
| EV/EBITDA | 1.27 |
EPS(TTM)23.18
EY9.78%
EPS(NY)28.64
Fwd EY12.09%
FCF(TTM)27.28
FCFY11.51%
OCF(TTM)81.46
OCFY34.37%
SpS429.95
BVpS162.74
TBVpS136.96
PEG (NY)N/A
PEG (5Y)0.61
Graham Number291.34
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
WACC8.26%
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-16.15%
EPS Next 2Y-6.05%
EPS Next 3Y-1.5%
EPS Next 5Y-0.15%
Revenue 1Y (TTM)2.15%
Revenue growth 3Y4.92%
Revenue growth 5Y10.24%
Sales Q2Q%2.14%
Revenue Next Year0.77%
Revenue Next 2Y-4.32%
Revenue Next 3Y-2.5%
Revenue Next 5Y-4.76%
EBIT growth 1Y-3.66%
EBIT growth 3Y-3.87%
EBIT growth 5Y16.06%
EBIT Next Year29.63%
EBIT Next 3Y5.61%
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.
What is the valuation status of EQUINOR ASA (EQNR.OL) stock?
ChartMill assigns a valuation rating of 7 / 10 to EQUINOR ASA (EQNR.OL). This can be considered as Undervalued.
How profitable is EQUINOR ASA (EQNR.OL) stock?
EQUINOR ASA (EQNR.OL) has a profitability rating of 7 / 10.
What is the financial health of EQUINOR ASA (EQNR.OL) stock?
The financial health rating of EQUINOR ASA (EQNR.OL) is 5 / 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 decline by -16.15% in the next year.