EQNR Stock Analysis: Equinor ASA | OL
Oil & Gas Integrated | OL, Norway | Market Cap: 945.607m NOK | 12M Return: 50.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 847M
EPS Trend: -38.9%
Qual. Beats: 0
Rev. Trend: 13.8%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Equinor ASA is a Norwegian-headquartered, internationally operating energy company organized into five segments: Exploration & Production Norway, Exploration & Production International, Exploration & Production USA, Marketing, Midstream & Processing, and Renewables. Its core upstream activities include hydrocarbon discovery, field development, and operation of oil and gas portfolios, supported by research, technology, digitalization, and venture activities. The Renewables segment focuses on offshore wind, green hydrogen, solar power, and storage solutions, reflecting a diversification strategy beyond fossil fuels.
The companys midstream and downstream operations cover the marketing, trading, processing, and transportation of crude oil, natural gas, NGLs, and refined products, including refineries, terminals, pipelines, shipping, and rail. Equinor also offers low-carbon solutions and engages in power and emissions trading. As an integrated oil and gas company in the GICS classification, its business model spans the full value chain from exploration through to product delivery and emerging low-carbon offerings.
Equinor was incorporated in 1972 and is headquartered in Stavanger, Norway. It was formerly known as Statoil ASA before rebranding to Equinor ASA in May 2018, a move signaling its strategic shift toward broader energy transition activities. The Norwegian state is a majority shareholder, reflecting the companys role as a national oil champion operating on the Norwegian Continental Shelf as well as in international basins.
- Brent crude prices above $80 boost upstream segment earnings
- European natural gas demand supports marketing and processing margins
- Renewables capital allocation pressures near-term shareholder returns
| Net Income: 9.06b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 1.17 > 1.0 |
| NWC/Revenue: 5.99% < 20% (prev 7.82%; Δ -1.83% < -1%) |
| CFO/TA 0.37 > 3% & CFO 52.5b > Net Income 9.06b |
| Net Debt (-4.04b) to EBITDA (44.4b): -0.09 < 3 |
| Current Ratio: 1.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.38b) vs 12m ago -11.77% < -2% |
| Gross Margin: 46.22% > 18% (prev 46.96%; Δ -0.73% > 0.5%) |
| Asset Turnover: 81.18% > 50% (prev 76.54%; Δ 4.64% > 0%) |
| Interest Coverage Ratio: 36.19 > 6 (EBIT TTM 32.4b / Interest Expense TTM 896.0m) |
| A: 0.05 (Total Current Assets 45.4b - Total Current Liabilities 38.6b) / Total Assets 141b |
| B: 0.36 (Retained Earnings 50.8b / Total Assets 141b) |
| C: 0.23 (EBIT TTM 32.4b / Avg Total Assets 140b) |
| D: 0.44 (Book Value of Equity 43.1b / Total Liabilities 97.8b) |
| Altman-Z'' = 3.51 = A |
| DSRI: 0.95 (Receivables 11.8b/11.6b, Revenue 114b/106b) |
| GMI: 1.02 (GM 46.96% / 46.22%) |
| AQI: 0.91 (AQ_t 0.23 / AQ_t-1 0.25) |
| SGI: 1.07 (Revenue 114b / 106b) |
| TATA: -0.31 (NI 9.06b - CFO 52.5b) / TA 141b) |
| Beneish M = -3.09 (Cap -4..+1) = AA |
As of July 28, 2026, the stock is trading at NOK 377.50 with a total of 3,045,020 shares traded. Over the past week, the price has changed by +5.77%, over one month by +21.38%, over three months by +7.15% and over the past year by +50.29%.
Current recommended Stop Loss: 351.10 (which is 7% or 2.3 ATR below the current price).
Equinor ASA has no consensus analysts rating.
Market Cap USD = 98.8b (946b NOK * 0.1045 NOK.USD)
P/E Trailing = 11.1519
P/E Forward = 8.1699
P/S = 8.3201
P/B = 2.165
P/EG = 0.861
Revenue TTM = 114b USD
EBIT TTM = 32.4b USD
EBITDA TTM = 44.4b USD
Long Term Debt = 21.6b USD (from longTermDebt, last quarter)
Short Term Debt = 6.81b USD (from shortLongTermDebt, last quarter)
Debt = 4.02b USD (Leases only: 4.02b)
Net Debt = -4.04b USD (calculated: Debt 4.02b - CCE 8.06b)
Enterprise Value = 94.8b USD (98.8b + Debt 4.02b - CCE 8.06b)
Interest Coverage Ratio = 36.19 (Ebit TTM 32.4b / Interest Expense TTM 896.0m)
EV/FCF = 9.89x (Enterprise Value 94.8b / FCF TTM 9.58b)
FCF Yield = 10.11% (FCF TTM 9.58b / Enterprise Value 94.8b)
FCF Margin = 8.43% (FCF TTM 9.58b / Revenue TTM 114b)
Net Margin = 7.97% (Net Income TTM 9.06b / Revenue TTM 114b)
Gross Margin = 46.22% ((Revenue TTM 114b - Cost of Revenue TTM 61.1b) / Revenue TTM)
Gross Margin QoQ = 45.97% (prev 44.33%)
Tobins Q-Ratio = 0.67 (Enterprise Value 94.8b / Total Assets 141b)
Interest Expense / Debt = 22.30% (Interest Expense 896.0m / Debt 4.02b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 25.6b (EBIT 32.4b * (1 - 21.00%))
Current Ratio = 1.18 (Total Current Assets 45.4b / Total Current Liabilities 38.6b)
Debt / Equity = 0.09 (Debt 4.02b / totalStockholderEquity, last quarter 43.1b)
Debt / EBITDA = -0.09 (Net Debt -4.04b / EBITDA 44.4b)
Debt / FCF = -0.42 (Net Debt -4.04b / FCF TTM 9.58b)
Total Stockholder Equity = 41.9b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.47% (Net Income 9.06b / Total Assets 141b)
RoE = 21.62% (Net Income TTM 9.06b / Total Stockholder Equity 41.9b)
RoCE = 51.07% (EBIT 32.4b / Capital Employed (Equity 41.9b + L.T.Debt 21.6b))
RoIC = 26.06% (NOPAT 25.6b / Invested Capital 98.3b)
WACC = 5.15% (E(98.8b)/V(103b) * Re(4.64%) + D(4.02b)/V(103b) * Rd(22.30%) * (1-Tc(0.21)))
Discount Rate = 4.64% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -98.12 | Cagr: -6.22%
[DCF] Terminal Value 77.97% ; FCFF base≈8.88b ; Y1≈10.2b ; Y5≈15.0b
[DCF] Fair Price = 96.55 (EV 225b - Net Debt -4.04b = Equity 229b / Shares 2.38b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -38.89 | EPS CAGR: -7.87% | SUE: -0.22 | # QB: 0
Revenue Correlation: 13.76 | Revenue CAGR: 0.47% | SUE: -0.00 | # QB: 0
EPS current Quarter (2026-09-30): EPS=1.17 | Chg30d=-0.27% | Revisions=-50% | Analysts=5
EPS current Year (2026-12-31): EPS=4.84 | Chg30d=-1.23% | Revisions=-29% | GrowthEPS=+149.7% | GrowthRev=+15.8%
EPS next Year (2027-12-31): EPS=3.88 | Chg30d=-2.37% | Revisions=+31% | GrowthEPS=-24.8% | GrowthRev=-9.5%
[Analyst] Revisions Ratio: +0% (up=10, down=10)