# Equinor ASA (EQNR) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Energy / Oil, Gas & Consumable Fuels. Price $42.09, market value $99.9 billion.

## Valuation
- **P/E (trailing): 11.4×** (5-yr avg 7.1×, 3-yr avg 8.5×). Equinor ASA trades at 11.4× 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 10.8×, 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: 2.6×**. Enterprise value is 2.6× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 9.6%** (5-yr avg 22.5%). Free cash flow equals 9.6% 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: 8.8%**. The inverse of the P/E: 8.8% of the price is earned each year.

## Profitability
- **Gross margin: 40.4%**. Equinor ASA keeps 40.4% of revenue after the direct cost of what it sells.
- **Operating margin: 28.0%**. 28.0% 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: 25.8%**. Return on all capital, debt included, is 25.8%: comfortably above what that capital costs.
- **Return on assets: 6.9%**. Each dollar of assets produces 6.9% 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: 0.5×**. It would take 0.5 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 31.1×**. Operating profit covers interest 31.1× over, a safe margin.
- **Altman Z-score: 2.53**. A Z-score of 2.53 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.71%** ($1.54 per share, trailing). Equinor ASA yields 3.71%, an income-level yield.
- **Payout ratio: 95%** (39% 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: 9.2%**. Dividends plus net buybacks return 9.2% of the market value a year.

## Price and momentum
- **Total return (1 yr): 82.0%** (YTD 82.3%, 3-mo 13.9%). The shares are up 82.0% over twelve months including dividends.
- **From 52-week high: -5.1%** (89.1% above the low). Trading 5% 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): 55**. An RSI of 55 is neutral.
- **Beta (1 yr): -0.88** (volatility 39%). Beta of -0.88 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.