BP p.l.c. (BP) vs Equinor ASA (EQNR)

BP p.l.c. and Equinor ASA are both Oil & Gas Integrated companies. BP p.l.c. is the larger, with a market value of $115.1B against $101.7B — 1.1× the size. Equinor ASA trades at the lower P/E: 8.8× against 13.0×. BP p.l.c. grew revenue faster over the last twelve months: 25.0% against 11.8%. Equinor ASA has the higher net margin (9.71% vs 3.72%) and the higher return on invested capital (54.5% vs 20.4%). Both pay a dividend; BP p.l.c. yields more (4.49% vs 3.56%). Across the 22 metrics below, Equinor ASA leads on 14 and BP p.l.c. on 8.

Valuation

Metric BP EQNR Oil & Gas Integrated median
P/E 12.97 8.84 8.84
P/S 0.48 0.83 1.10
P/B 1.52 2.25 1.43
Price to free cash flow 4.74 7.34 8.19
EV/EBITDA 2.68 1.99 4.43
EV/Sales 0.49 0.83 1.48
Earnings yield 7.71% 11.31% 9.76%
Free cash flow yield 21.08% 13.62% 7.35%

Profitability

Metric BP EQNR Oil & Gas Integrated median
Gross margin 30.46% 53.58% 39.93%
Operating margin 11.14% 32.26% 17.07%
Net margin 3.72% 9.71% 10.24%
Free cash flow margin 10.17% 11.34% 11.16%
Return on equity 0.00% 27.58% 14.86%
Return on assets 3.07% 8.34% 7.07%
Return on invested capital 20.37% 54.52% 12.85%

Growth

Metric BP EQNR Oil & Gas Integrated median
Revenue growth (TTM) 25.00% 11.76% 13.45%
EPS growth (last fiscal year) (85.71%) (37.62%) (14.54%)
Revenue growth, 5-year CAGR 12.04% 18.37% 12.04%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BP EQNR Oil & Gas Integrated median
Debt to equity 0.70 0.53 0.53
Current ratio 1.29 1.16 1.19
Net debt to EBITDA 0.53 0.18 0.80

Dividend

Metric BP EQNR Oil & Gas Integrated median
Dividend yield 4.49% 3.56% 3.83%
Payout ratio 0.59 0.32 0.34

Size

Metric BP EQNR Oil & Gas Integrated median
Market cap 115.13b 101.70b 47.17b

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