Eni SpA (E) vs Equinor ASA (EQNR)

Eni SpA and Equinor ASA are both Oil & Gas Integrated companies. Equinor ASA is the larger, with a market value of $107.4B against $83.7B — 1.3× the size. Equinor ASA trades at the lower P/E: 12.8× against 14.8×. Equinor ASA grew revenue faster over the last twelve months: 5.78% against 4.16%. Equinor ASA has the higher net margin (7.92% vs 6.30%) and the higher return on invested capital (46.6% vs 3.00%). Both pay a dividend; Eni SpA yields more (4.16% vs 3.24%). Across the 22 metrics below, Equinor ASA leads on 16 and Eni SpA on 6.

Valuation

Metric E EQNR Oil & Gas Integrated median
P/E 14.85 12.80 12.62
P/S 0.88 1.00 1.29
P/B 1.31 2.65 1.62
Price to free cash flow 16.64 9.32 10.23
EV/EBITDA 8.71 2.58 4.86
EV/Sales 1.07 1.00 1.52
Earnings yield 6.73% 7.81% 7.04%
Free cash flow yield 6.01% 10.73% 6.09%

Profitability

Metric E EQNR Oil & Gas Integrated median
Gross margin 19.25% 51.16% 39.18%
Operating margin 4.15% 28.44% 14.90%
Net margin 6.30% 7.92% 8.88%
Free cash flow margin 5.29% 10.72% 9.61%
Return on equity 9.80% 21.28% 12.22%
Return on assets 3.82% 6.47% 6.47%
Return on invested capital 3.00% 46.59% 10.61%

Growth

Metric E EQNR Oil & Gas Integrated median
Revenue growth (TTM) 4.16% 5.78% 5.63%
EPS growth (last fiscal year) 2.92% (37.62%) (14.54%)
Revenue growth, 5-year CAGR 13.01% 18.37% 12.04%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric E EQNR Oil & Gas Integrated median
Debt to equity 0.55 0.56 0.55
Current ratio 1.23 1.18 1.18
Net debt to EBITDA 1.09 0.18 0.80

Dividend

Metric E EQNR Oil & Gas Integrated median
Dividend yield 4.16% 3.24% 3.24%
Payout ratio 0.63 0.41 0.52

Size

Metric E EQNR Oil & Gas Integrated median
Market cap 83.70b 107.39b 58.96b

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