Stocktoria

Equinor ASA EQNR.OL

NO · Oslo Børs · XOSL · stock · Energy · website

Equinor ASA statistics & valuation

Market cap$916.2B
P / E181.7×
P / S8.7×
P / B22.7×
P / FCF153.3×
Net margin4.8%
FCF margin5.6%
Net debt$26.2B
Enterprise value$123.3B
Earnings yield EBIT/EV2.6%
Return on capital24.5%
Graham number -92.9%$27.26

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($27.26); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
19.30% 11.10% 8.60% 4.80% 2022202320242025
Gross margin (%)
59.60% 45.00% 41.60% 36.20% 2022202320242025
Operating margin (%)
52.20% 33.00% 29.60% 23.40% 2022202320242025
Return on equity (%)
53.20% 24.50% 20.80% 12.50% 2022202320242025
Shares outstanding
2.37B 2.37B 2.37B 2.37B 2022202320242025
Net debt ($)
$22.73B $23.73B $24.19B $26.18B 2022202320242025
Share buybacks ($)
2022202320242025
Return on assets (%)
18.20% 8.30% 6.70% 3.80% 2022202320242025
Free cash flow margin (%)
17.70% 17.50% 7.10% 5.60% 2022202320242025
Debt / equity (×)
0.60× 0.66× 0.71× 0.77× 2022202320242025
EPS ($)
$9.03 $3.93 $3.11 $1.94 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Equinor ASA trades at about 198.9× earnings — above its 10-year norm (10-year range 33.6×–132.5×, median 88×).

33.6× 198.9×

Shaded band = 10-year range (33.6×–132.5×); dot = today's 198.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin36.2%41.6%45.0%59.6%
Operating margin23.4%29.6%33.0%52.2%
Net margin4.8%8.6%11.1%19.3%
FCF margin5.6%7.1%17.5%17.7%
Return on assets3.8%6.7%8.3%18.2%
Return on equity12.5%20.8%24.5%53.2%
Debt / equity0.59×0.46×0.46×0.45×
Current ratio1.271.481.711.78

Computed from company filings · NO · as of 2025-12-31. Figures in USD. Facts plus Stocktoria's own computed scores — not investment advice.