Norwegian energy group producing oil and natural gas and developing renewable power, trading and lower-carbon energy projects.
Profile & Fundamentals
Equinor: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Equinor Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Equinor ASA operates as an energy company in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; and Renewables segments. The company engages in the discovery and appraisal of new resources, as well as commercial development and operation of the oil and gas portfolios; oil and gas field development, well deliveries, and sourcing; research, technology development, specialist advisory services, digitalization, IT, improvement, innovation, and ventures and future business; and developing, exploring, investing in, and operating areas within renewable energy, such as offshore wind, green hydrogen, storage solutions, and solar power. It is also involved in the marketing, trading, processing, and transportation of crude oil and condensate, natural gas, NGL and refined products, including refineries, terminals, and processing plant operation; power and emissions trading; development of transportation solutions for natural gas, liquids, and crude oil, including pipelines, shipping, trucking, and rail; and provision of low carbon solutions. The company was formerly known as Statoil ASA and changed its name to Equinor ASA in May 2018. Equinor ASA was incorporated in 1972 and is headquartered in Stavanger, Norway.
Company profile record
Equinor ASA
Common Stock · Energy · Integrated Oil & Gas
Company
- Company / asset
- Equinor ASA
- Security type
- Common Stock
- Sector
- Energy
- Industry
- Integrated Oil & Gas
- HQ
- 🇳🇴 Norway
- Head office
- Forusbeen 50, Stavanger, Norway, 4035
Leadership & scale
- Chief executive
- Mr. Anders Opedal
- CEO year born
- 1968
- Full-time employees
- 23.5K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- NOK 1.13T
- P/E
- 12.7x
- Revenue (Q2 26)
- USD 34.5B
- Profit (Q2 26)
- USD 4.8B
- Dividend Yield
- 2.7%
- Revenue (FY 25)
- USD 105.8B
- Shares in public float
- 516.5M
- Insider ownership
- 71.65%
Reporting & identifiers
- Symbol
- EQNR.OSL
- Listing
- 🇳🇴 Norway | Dividend Tax: 25%
- Ticker Currency
- NOK
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- NO0010096985
- Asset ID
- equity_140031c3-92a3-5992-89f4-5ef224933e2b
Ownership
Shares Outstanding
Latest: 2.8B | Max: 3.3B | Min: 2.8B
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
18.67%
516.5M latest reported shares
Insider Ownership
71.65%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2015-01-01 | 3,178,000,000 |
| 2016-01-01 | 3,219,000,000 |
| 2017-01-01 | 3,342,857,100 |
| 2018-01-01 | 3,329,000,000 |
| 2019-01-01 | 3,322,000,000 |
| 2020-01-01 | 3,257,000,000 |
| 2021-01-01 | 3,249,000,000 |
| 2022-01-01 | 3,141,000,000 |
| 2023-01-01 | 2,961,000,000 |
| 2024-01-01 | 2,767,000,000 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Recent financial performance reflects a powerful cyclical recovery driven by international energy supply tensions. Second-quarter 2026 revenue rose 37.4% year-over-year to $34.5 billion, while quarterly net income climbed to $4.85 billion as European gas and crude price realizations spiked. This sharp operational rebound lifted trailing twelve-month operating income to $32.4 billion, fully reversing the earnings compression recorded in fiscal 2025. However, headline accounting figures partially conceal underlying cash volatility. While trailing free cash flow reached $9.58 billion, these earnings remain heavily dependent on elevated commodity price netbacks rather than rapid organic volume growth. As global natural gas supplies expand in coming years, operating earnings will naturally normalize toward mid-cycle levels.
Recent financial performance reflects a powerful cyclical recovery driven by international energy supply tensions. Second-quarter 2026 revenue rose 37.4% year-over-year to $34.5 billion, while quarterly net income climbed to $4.85 billion as European gas and crude price realizations spiked. This sharp operational rebound lifted trailing twelve-month operating income to $32.4 billion, fully reversing the earnings compression recorded in fiscal 2025. However, headline accounting figures partially conceal underlying cash volatility. While trailing free cash flow reached $9.58 billion, these earnings remain heavily dependent on elevated commodity price netbacks rather than rapid organic volume growth. As global natural gas supplies expand in coming years, operating earnings will naturally normalize toward mid-cycle levels.
Revenue, Net Income, and Free Cash Flow
Latest: USD 105.8B | Max: USD 149.0B | Min: USD -5.5B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 13x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability margins have experienced significant cyclical swings, reflecting high operating leverage to European energy prices. After operating margins compressed to 24.0% in fiscal 2025 during an interim commodity lull, they expanded back toward 30% in mid-2026 as European gas realizations rebounded. Fixed subsea infrastructure allows revenue gains to flow directly into pre-tax operating earnings. However, structural fiscal rules limit the net gains reaching equity owners. Under Norway's 78% petroleum tax regime, the state captures the vast majority of supernormal profit during market booms. Consequently, while world-class lifting costs below $6 per barrel defend operating profitability, final net profit margins will remain constrained as commodity prices normalize.
Profitability margins have experienced significant cyclical swings, reflecting high operating leverage to European energy prices. After operating margins compressed to 24.0% in fiscal 2025 during an interim commodity lull, they expanded back toward 30% in mid-2026 as European gas realizations rebounded. Fixed subsea infrastructure allows revenue gains to flow directly into pre-tax operating earnings. However, structural fiscal rules limit the net gains reaching equity owners. Under Norway's 78% petroleum tax regime, the state captures the vast majority of supernormal profit during market booms. Consequently, while world-class lifting costs below $6 per barrel defend operating profitability, final net profit margins will remain constrained as commodity prices normalize.
Profitability Margins
Latest: 47.9% | Max: 59.6% | Min: -12.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
47.9%
Gross profit / revenue
Operating Margin
24.0%
Operating income / revenue
Net Margin
4.8%
Net income / revenue
FCF Margin
5.6%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 45,688,000,000 | -2,922,000,000 | -3,157,000,000 |
| 2017-12-31 | 60,971,000,000 | 4,590,000,000 | 3,608,000,000 |
| 2018-12-31 | 78,555,000,000 | 7,535,000,000 | 8,327,000,000 |
| 2019-12-31 | 62,911,000,000 | 1,843,000,000 | 3,545,000,000 |
| 2020-12-31 | 45,753,000,000 | -5,496,000,000 | 1,910,000,000 |
| 2021-12-31 | 88,744,000,000 | 8,563,000,000 | 20,776,000,000 |
| 2022-12-31 | 149,004,000,000 | 28,746,000,000 | 26,378,000,000 |
| 2023-12-31 | 106,848,000,000 | 11,885,000,000 | 14,126,000,000 |
| 2024-12-31 | 102,502,000,000 | 8,806,000,000 | 7,933,000,000 |
| 2025-12-31 | 105,828,000,000 | 5,043,000,000 | 5,977,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 12.87 | Trailing four quarters |
| 2024-12-31 | 7.34 | Trailing four quarters |
| 2023-12-31 | 7.86 | Trailing four quarters |
| 2022-12-31 | 3.92 | Annual net income |
| 2021-12-31 | 10.2 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 27.65 | 0.18 | -6.4 | -6.91 |
| 2017-12-31 | 39.55 | 22.59 | 7.53 | 5.92 |
| 2018-12-31 | 39.2 | 25.63 | 9.59 | 10.6 |
| 2019-12-31 | 32.07 | 14.78 | 2.93 | 5.63 |
| 2020-12-31 | 20.83 | -6.27 | -12.01 | 4.17 |
| 2021-12-31 | 47.18 | 37.93 | 9.65 | 23.41 |
| 2022-12-31 | 59.6 | 52.89 | 19.29 | 17.7 |
| 2023-12-31 | 45.01 | 33.48 | 11.12 | 13.22 |
| 2024-12-31 | 51.18 | 30.17 | 8.59 | 7.74 |
| 2025-12-31 | 47.87 | 23.96 | 4.77 | 5.65 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-15.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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