Equinor ASA

EQNR Energy Oil & Gas Integrated

Equinor ASA’s revenue for fiscal 2025 (year ended December 2025) was $106.5 billion, up 2.59% from fiscal 2024.

Revenue
+27.4%
EPS
+1,440.0%
Free cash flow
+60.9%
Total debt
−4.44%

Quarter to September 2026, against a year earlier

42.11 0.43 −1.01%
Market cap
$101.7B
P/E
8.8×
Fwd P/E
8.3×
Dividend yield
3.56%
F-score
5/9
Altman Z
2.43
Beneish M
−2.99
Dividend safety
34/100

Equinor ASA (EQNR) Free cash flow margin

Alert me on Free cash flow margin

Equinor ASA's free cash flow margin over the twelve months to 30 September 2026 was 11.3%, up 3.4 percentage points from fiscal 2025 (7.92%). Over the past ten years it has ranged from −5.22% (fiscal 2016) to 22.7% (fiscal 2021); the current reading is higher than 55% of that period. That is in line with the Oil & Gas Integrated industry median of 11.2% and above the Energy sector median of 6.87%.

Free cash flow margin, annual

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Annual newest first

Period Free cash flow margin Change (points)
FY2025 7.92% (0.52)
FY2024 8.44% (4.99)
FY2023 13.4% (4.06)
FY2022 17.5% (5.24)
FY2021 22.7% 18.56
FY2020 4.17% (1.34)
FY2019 5.51% (7.18)
FY2018 12.7% 5.41
FY2017 7.28% 12.50
FY2016 −5.22% (8.51)

Against its own ten years

Low −5.22% High 22.7%
Ten-year median 7.92%
Current reading's percentile 55

Free cash flow margin against peers

Company Free cash flow margin
CVE Cenovus Energy Inc compare 22.7%
PBR Petroleo Brasileiro S.A.- Petrobras compare 19.9%
PBR.A Petroleo Brasileiro S.A.- Petrobras compare 19.9%
EC Ecopetrol S.A. compare 15.3%
SHEL Shell PLC Unsponsored ADR compare 12.3%
EQNR Equinor ASA 11.3%
TTE TotalEnergies SE Sponsored ADR compare 11.2%
BP BP p.l.c. compare 10.2%
E Eni SpA compare 5.67%
Oil & Gas Integrated industry median 11.2%
Energy sector median 6.87%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

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