# Equinor ASA (EQNR) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Energy / Oil, Gas & Fuels. Price $45.63, market value $108.0 billion.

## Valuation
- **P/E (trailing): 9.5×** (5-yr avg 7.1×, 3-yr avg 8.5×). Equinor ASA trades at 9.5× trailing earnings, well above its own five-year average of 7.1×: investors are paying up relative to the company's past. The Energy median in the September 2026 study was 16.8×. Forward P/E is 9.2×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 0.9×**. Each dollar of revenue is priced at 0.9×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 4.8×**. The shares trade at 4.8× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 2.5×**. Enterprise value is 2.5× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 10.5%** (5-yr avg 22.5%). Free cash flow equals 10.5% of the market value, below its five-year average of 22.5%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 10.6%**. The inverse of the P/E: 10.6% of the price is earned each year.

## Profitability
- **Gross margin: 43.6%**. Equinor ASA keeps 43.6% of revenue after the direct cost of what it sells.
- **Operating margin: 31.8%**. 31.8% of revenue is left after running the business, an exceptional level.
- **Net margin: 4.8%**. 4.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 12.5%**. 12.5% on shareholders' equity is solid.
- **Return on invested capital: 31.2%**. Return on all capital, debt included, is 31.2%: comfortably above what that capital costs.
- **Return on assets: 9.0%**. Each dollar of assets produces 9.0% of profit.

## Growth
- **Revenue growth (1 yr): 2.6%** (3-yr -11.0%/yr, 5-yr 18.4%/yr). Revenue grew 2.6% over the last year, against 18.4% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -37.6%** (3-yr -40.1%/yr). Earnings per share fell 37.6%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -39.0%/yr**. Free cash flow has compounded at -39.0% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.64**. Debt is 0.64 times equity, moderate leverage.
- **Net debt / EBITDA: 0.4×**. It would take 0.4 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 37.3×**. Operating profit covers interest 37.3× over, a safe margin.
- **Altman Z-score: 2.58**. A Z-score of 2.58 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.42%** ($1.56 per share, trailing). Equinor ASA yields 3.42%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 95%** (33% of free cash flow). 95% of earnings goes out as dividends, leaving a thin cushion.
- **Dividend growth (5 yr): 15.5%/yr** (1-yr -51.3%). The dividend has compounded at 15.5% a year over five years, doubling roughly every 5 years at that pace.
- **Shareholder yield: 7.0%**. Dividends plus net buybacks return 7.0% of the market value a year.

## Analyst view
- **Analyst consensus: hold** (7 analysts). 7 analysts cover Equinor ASA; the consensus is hold, with an average price target of $40.71 (-11% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 97.0%** (YTD 96.7%, 3-mo 13.8%). The shares are up 97.0% over twelve months including dividends.
- **From 52-week high: -7.0%** (105.0% above the low). Trading 7% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 50**. An RSI of 50 is neutral.
- **Beta (1 yr): -0.95** (volatility 40%). Beta of -0.95 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=EQNR · Page: https://foliofundamentals.com/stocks/eqnr

Not investment advice.