Chevron Corporation (CVX) vs Equinor ASA (EQNR)

Chevron Corporation and Equinor ASA are both Oil & Gas Integrated companies. Chevron Corporation is the larger, with a market value of $415.4B against $101.7B — 4.1× the size. Equinor ASA trades at the lower P/E: 8.8× against 15.5×. Chevron Corporation grew revenue faster over the last twelve months: 20.0% against 11.8%. Chevron Corporation has the higher net margin (11.6% vs 9.71%) and the lower return on invested capital (0.00% vs 54.5%). Both pay a dividend; Equinor ASA yields more (3.56% vs 3.30%). Across the 22 metrics below, Equinor ASA leads on 15 and Chevron Corporation on 7.

Valuation

Metric CVX EQNR Oil & Gas Integrated median
P/E 15.50 8.84 8.84
P/S 1.79 0.83 1.10
P/B 2.14 2.25 1.43
Price to free cash flow 12.26 7.34 8.19
EV/EBITDA 8.02 1.99 4.43
EV/Sales 1.91 0.83 1.48
Earnings yield 6.45% 11.31% 9.76%
Free cash flow yield 8.16% 13.62% 7.35%

Profitability

Metric CVX EQNR Oil & Gas Integrated median
Gross margin 43.46% 53.58% 39.93%
Operating margin 17.24% 32.26% 17.07%
Net margin 11.56% 9.71% 10.24%
Free cash flow margin 14.60% 11.34% 11.16%
Return on equity 0.00% 27.58% 14.86%
Return on assets 0.00% 8.34% 7.07%
Return on invested capital 0.00% 54.52% 12.85%

Growth

Metric CVX EQNR Oil & Gas Integrated median
Revenue growth (TTM) 20.04% 11.76% 13.45%
EPS growth (last fiscal year) (31.79%) (37.62%) (14.54%)
Revenue growth, 5-year CAGR 14.83% 18.37% 12.04%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CVX EQNR Oil & Gas Integrated median
Debt to equity 0.19 0.53 0.53
Current ratio 1.25 1.16 1.19
Net debt to EBITDA 0.84 0.18 0.80

Dividend

Metric CVX EQNR Oil & Gas Integrated median
Dividend yield 3.30% 3.56% 3.83%
Payout ratio 0.51 0.32 0.34

Size

Metric CVX EQNR Oil & Gas Integrated median
Market cap 415.43b 101.70b 47.17b

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