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Profile & Fundamentals

Equinor Profile & Fundamentals

Name: Equinor financial chart data preview
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Company and Market Context

Company Profile & Ownership

Equinor ASA operates as an energy company in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; and Renewables segments. The company engages in the discovery and appraisal of new resources, as well as commercial development and operation of the oil and gas portfolios; oil and gas field development, well deliveries, and sourcing; research, technology development, specialist advisory services, digitalization, IT, improvement, innovation, and ventures and future business; and developing, exploring, investing in, and operating areas within renewable energy, such as offshore wind, green hydrogen, storage solutions, and solar power. It is also involved in the marketing, trading, processing, and transportation of crude oil and condensate, natural gas, NGL and refined products, including refineries, terminals, and processing plant operation; power and emissions trading; development of transportation solutions for natural gas, liquids, and crude oil, including pipelines, shipping, trucking, and rail; and provision of low carbon solutions. The company was formerly known as Statoil ASA and changed its name to Equinor ASA in May 2018. Equinor ASA was incorporated in 1972 and is headquartered in Stavanger, Norway.

Company profile record

Equinor ASA

Common Stock · Energy · Integrated Oil & Gas

Official website

Company

Company / asset: Equinor ASA
Security type: Common Stock
Sector: Energy
Industry: Integrated Oil & Gas
HQ: 🇳🇴 Norway
Head office: Forusbeen 50, Stavanger, Norway, 4035

Leadership & scale

Chief executive: Mr. Anders Opedal
CEO year born: 1968
Full-time employees: 23.5K
Fiscal year end: December

Fundamentals snapshot

Updated 2026-09-14

Market Cap: NOK 1.16T
P/E: 12.9x
Revenue (Q2 26): USD 34.5B
Profit (Q2 26): USD 4.8B
Dividend Yield: 2.6%
Revenue (FY 25): USD 105.8B
Shares in public float: 516.5M
Insider ownership: 71.65%

Reporting & identifiers

Symbol: EQNR.OSL
Listing: 🇳🇴 Norway | Dividend Tax: 25%
Ticker Currency: NOK
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: NO0010096985
Asset ID: equity_140031c3-92a3-5992-89f4-5ef224933e2b

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

Recent financial performance reflects a powerful cyclical recovery driven by international energy supply tensions. Second-quarter 2026 revenue rose 37.4% year-over-year to $34.5 billion, while quarterly net income climbed to $4.85 billion as European gas and crude price realizations spiked. This sharp operational rebound lifted trailing twelve-month operating income to $32.4 billion, fully reversing the earnings compression recorded in fiscal 2025. However, headline accounting figures partially conceal underlying cash volatility. While trailing free cash flow reached $9.58 billion, these earnings remain heavily dependent on elevated commodity price netbacks rather than rapid organic volume growth. As global natural gas supplies expand in coming years, operating earnings will naturally normalize toward mid-cycle levels.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

Profitability margins have experienced significant cyclical swings, reflecting high operating leverage to European energy prices. After operating margins compressed to 24.0% in fiscal 2025 during an interim commodity lull, they expanded back toward 30% in mid-2026 as European gas realizations rebounded. Fixed subsea infrastructure allows revenue gains to flow directly into pre-tax operating earnings. However, structural fiscal rules limit the net gains reaching equity owners. Under Norway's 78% petroleum tax regime, the state captures the vast majority of supernormal profit during market booms. Consequently, while world-class lifting costs below $6 per barrel defend operating profitability, final net profit margins will remain constrained as commodity prices normalize.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	45,688,000,000	-3,157,000,000	-2,922,000,000	27.65	0.18	-6.4	-6.91
2017-12-31	60,971,000,000	3,608,000,000	4,590,000,000	39.55	22.59	7.53	5.92
2018-12-31	78,555,000,000	8,327,000,000	7,535,000,000	39.2	25.63	9.59	10.6
2019-12-31	62,911,000,000	3,545,000,000	1,843,000,000	32.07	14.78	2.93	5.63
2020-12-31	45,753,000,000	1,910,000,000	-5,496,000,000	20.83	-6.27	-12.01	4.17
2021-12-31	88,744,000,000	20,776,000,000	8,563,000,000	47.18	37.93	9.65	23.41
2022-12-31	149,004,000,000	26,378,000,000	28,746,000,000	59.6	52.89	19.29	17.7
2023-12-31	106,848,000,000	14,126,000,000	11,885,000,000	45.01	33.48	11.12	13.22
2024-12-31	102,502,000,000	7,933,000,000	8,806,000,000	51.18	30.17	8.59	7.74
2025-12-31	105,828,000,000	5,977,000,000	5,043,000,000	47.87	23.96	4.77	5.65

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	12.87	Trailing four quarters
2024-12-31	7.34	Trailing four quarters
2023-12-31	7.86	Trailing four quarters
2022-12-31	3.92	Annual net income
2021-12-31	10.2	Annual net income

Shares outstanding — chart values
Reporting date	Shares outstanding
2015-01-01	3,178,000,000
2016-01-01	3,219,000,000
2017-01-01	3,342,857,100
2018-01-01	3,329,000,000
2019-01-01	3,322,000,000
2020-01-01	3,257,000,000
2021-01-01	3,249,000,000
2022-01-01	3,141,000,000
2023-01-01	2,961,000,000
2024-01-01	2,767,000,000

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