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Equinor EQNR

US equityMarket cap rank #154
$43.22
+$0.32 (+0.75%)
Market open · Sep 24, 2:00 pm ET
After hours $43.06 +0.37%
Open$43.70
Prev close$42.90
Day range$42.94 – $44.10
Volume3.59M
Market cap$102.46B
P/E (TTM)11.7
Dividend yield3.47%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$34.52B+37.4% YoY
Operating profit$12.86B+125.2% YoY
Net profit$4.84B+267.2% YoY
Diluted EPS$1.99+298.0% YoY
Free cash flow$6.60B+814.1% YoY
Operating cash flow$9.47B

Revenue, last 8 quarters

$25.4BSep '24$26.5BDec '24$29.4BMar '25$25.1BJun '25$26.0BSep '25$25.3BDec '25$27.8BMar '26$34.5BJun '26

Net profit, last 8 quarters

$2.3BSep '24$2.0BDec '24$2.6BMar '25$1.3BJun '25$-204.0MSep '25$1.3BDec '25$3.1BMar '26$4.8BJun '26

Diluted EPS by quarter

0.82Sep '240.73Dec '240.96Mar '250.50Jun '25-0.08Sep '250.52Dec '251.24Mar '261.99Jun '26

Free cash flow by quarter

$3.4BSep '24$-1.6BDec '24$6.0BMar '25$-924.0MJun '25$2.9BSep '25$-2.0BDec '25$2.1BMar '26$6.6BJun '26

Annual revenue

$45.8BFY20$88.7BFY21$149.0BFY22$106.8BFY23$102.5BFY24$105.8BFY25

Profitability & balance sheet

Gross margin40.4%
Operating margin28.0%
Net margin8.0%
Return on equity21.3%
Return on assets6.5%
Return on invested capital12.0%
Current ratio1.18
Liabilities / assets69.4%
Cash & investments$23.73B
Total debt$31.05B
Net cash (debt)-$7.32B
Free cash flow / sales8.4%

Where the revenue comes from

Quarter 2026/Q1

By business line

  • Marketing, Midstream & Processing (MMP)$26.65B 65.1%
  • Exploration & Production (E&P) Norway$10.44B 25.5%
  • Exploration & Production (E&P) International$1.59B 3.9%
  • Exploration & Production (E&P) USA$1.38B 3.4%
  • Power$824.00M 2.0%
  • Other$46.00M 0.1%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $34.52B $27.82B $105.83B $25.30B $26.02B
Total Operating Revenue $34.52B $27.82B $105.83B $25.30B $26.02B
Cost of Revenue $18.65B $15.48B $67.48B $16.35B $17.21B
Gross Profit $15.87B $12.33B $38.35B $8.94B $8.80B
Operating Expense $3.01B $3.53B $13.62B $4.07B $3.52B
Selling and Admin Expenses $273.00M $309.00M $1.21B $297.00M $258.00M
Other Operating Expenses $2.74B $3.22B $12.41B $3.78B $3.26B
Operating Profit $12.86B $8.80B $24.73B $4.87B $5.29B
Net Non-Operating Interest Income (Expense) -$206.00M -$63.00M $203.00M $342.00M -$101.00M
Non-Operating Interest Income $229.00M $370.00M $1.04B $132.00M $265.00M
Non-Operating Interest Expense $435.00M $433.00M $832.00M -$210.00M $366.00M
Other Income (Expense) $374.00M $1.00B $155.00M $558.00M -$518.00M
Gain on Sale of Security $244.00M $1.02B $137.00M $546.00M -$502.00M
Earnings from Equity Interest $130.00M -$21.00M $18.00M $12.00M -$16.00M
Pretax Profit $13.03B $9.74B $25.09B $5.77B $4.67B
Tax $8.19B $6.64B $20.03B $4.46B $4.87B
Net Profit $4.84B $3.11B $5.06B $1.31B -$204.00M
Profit from Continuing Operations $4.84B $3.11B $5.06B $1.31B -$204.00M
Minority Interests -$12.00M -$2.00M $15.00M $0.00 $7.00M
Net Income to Parent Company $4.85B $3.11B $5.04B $1.31B -$210.00M
Net Income to Common Stockholders $4.85B $3.11B $5.04B $1.31B -$210.00M
Basic EPS $1.99 $1.24 $1.94 $0.52 -$0.08
Diluted EPS $1.99 $1.24 $1.94 $0.52 -$0.08
Dividend Per Share $0.39 $0.37 $1.46 $0.37 $0.37

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $140.90B $141.15B $131.73B $131.73B $135.85B
Total Current Assets $45.43B $45.91B $38.94B $38.94B $52.15B
Cash and Cash Equivalents & Short-Term Investments $23.73B $20.10B $19.33B $19.33B $22.39B
-Cash and Cash Equivalents $8.06B $5.88B $5.04B $5.04B $8.11B
-Short Term Investments $15.66B $14.21B $14.30B $14.30B $14.28B
Receivables $16.75B $17.91B $14.71B $14.71B $14.65B
-Accounts Receivable $11.75B $12.88B $10.24B $10.24B $10.37B
-Other Receivables $5.00B $5.03B $3.89B $3.89B $4.28B
Inventory $2.92B $4.24B $3.33B $3.33B $3.74B
Total Non-Current Assets $95.47B $95.25B $92.79B $92.79B $83.69B
Net PPE $62.95B $62.94B $62.75B $62.75B $59.96B
Investments and Advances $15.74B $15.81B $15.34B $15.34B $7.79B
-Long Term Equity Investment $8.19B $8.26B $8.50B $8.50B $2.85B
Financial Assets $978.00M $819.00M $1.02B $1.02B $812.00M
Non-Current Prepaid Assets $2.38B $1.89B $1.33B $1.33B $1.51B
Goodwill and Other Intangible Assets $5.97B $5.97B $4.44B $4.44B $6.42B
Defined Pension Benefit $2.25B $2.14B $2.11B $2.11B $2.17B
Non-Current Deferred Assets $5.20B $5.68B $5.05B $5.05B $5.04B
Total Liabilities $97.77B $97.51B $91.23B $91.23B $95.25B
Total Current Liabilities $38.63B $37.05B $30.78B $30.78B $35.21B
Payables $26.28B $25.37B $20.87B $20.87B $24.02B
-Accounts Payable $11.02B $11.37B $4.83B $4.83B $10.43B
-Total Tax Payable $14.33B $13.99B $10.99B $10.99B $12.66B
-Dividends Payable $927.00M $0.00 $923.00M $923.00M $930.00M
Short-Term Debt and Capital Lease Obligation $8.18B $6.92B $5.24B $5.24B $5.88B
-Current Debt $6.81B $5.54B $4.05B $4.05B $4.76B
-Current Capital Lease Obligation $1.37B $1.38B $1.19B $1.19B $1.12B
Other Current Liabilities $4.18B $4.76B $1.04B $1.04B $5.30B
Total Non-Current Liabilities $59.14B $60.46B $60.45B $60.45B $60.05B
Long Term Debt and Capital Lease Obligation $24.24B $24.94B $25.98B $25.98B $25.07B
-Long Term Debt $21.59B $22.16B $23.76B $23.76B $22.90B
-Long Term Capital Lease Obligation $2.65B $2.77B $2.22B $2.22B $2.17B
Derivative Product Liabilities $1.27B $1.28B $1.15B $1.15B $1.12B
Non-Current Liabilities $14.51B $15.02B $14.72B $14.72B –
Non-Current Deferred Liabilities $14.79B $15.04B $14.52B $14.52B $15.00B
Employee Benefits $4.34B $4.18B $4.08B $4.08B $4.26B
Other Non-Current Liabilities -$1.00M – $1.00M $1.00M $14.60B
Total Equity $43.13B $43.64B $40.50B $40.50B $40.59B
Stockholders' Equity $43.06B $43.57B $40.42B $40.42B $40.53B
Capital Stock $995.00M $995.00M $995.00M $995.00M $995.00M
-Common Stock $995.00M $995.00M $995.00M $995.00M $995.00M
Additional Paid-In Capital $0.00 $0.00 $0.00 $0.00 $0.00
Retained Earnings $50.78B $50.99B $48.03B $48.03B $47.95B
Gains/Losses Not Affecting Retained Earnings -$8.71B -$8.42B -$8.60B -$8.60B -$8.41B
Minority Interests $69.00M $71.00M $74.00M $74.00M $67.00M
Other Equity Interests – $1.00M $1.00M $1.00M –
-Due from Related Parties Current – – $583.00M $583.00M –
-Gross PPE – – $210.76B $210.76B –
-Accumulated Depreciation – – -$148.01B -$148.01B –
-Available for Sale Securities – – $4.46B $4.46B –
-Held to Maturity Securities – – $2.38B $2.38B –
Non Current Accounts Receivables – – $748.00M $748.00M –
-Goodwill – – $1.84B $1.84B –
-Other Intangible Assets – – $2.61B $2.61B –
-Due to Related Parties Current – – $4.12B $4.12B –
Current Accrued Expenses – – $2.56B $2.56B –
Current Provisions – – $1.08B $1.08B –

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow $9.47B $5.21B $19.97B $2.11B $6.35B
Net cash flow from continuing operations $9.47B $5.21B $19.97B $2.11B $6.35B
Net Income from Continuing Operations $13.03B $9.74B $25.09B $5.77B $4.67B
Gain/Loss from Continuing Operations -$894.00M -$709.00M $381.00M $508.00M -$109.00M
Depreciation & Depletion & Amortization $2.72B $2.53B $12.47B $3.37B $3.37B
Other Non-Cash Items -$103.00M -$1.28B -$59.00M -$60.00M $938.00M
Change in Working Capital $1.79B -$806.00M $1.99B -$1.21B $1.01B
-Change In Other Working Capital $1.79B – – – –
Net cash flow from investing -$3.44B -$2.53B -$9.60B -$3.72B -$2.74B
Net Cash Flow from Continuing Investing Activities -$3.44B -$2.53B -$9.60B -$3.72B -$2.74B
Capital Expenditure -$2.87B -$3.12B -$13.99B -$4.15B -$3.42B
Net Business Purchase and Sale $558.00M $0.00 $2.43B $2.46B $0.00
Net Investment Purchase and Sale -$1.08B $546.00M $1.85B -$1.60B $511.00M
Net Other Investing Changes -$50.00M $44.00M $114.00M -$436.00M $170.00M
Financing Cash Flow -$3.90B -$1.82B -$11.53B -$1.43B -$4.98B
Net Cash Flow from Continuing Financing Activities -$3.90B -$1.82B -$11.53B -$1.43B -$4.98B
Net Issuance Payments Of Debt -$2.85B -$624.00M -$819.00M -$126.00M $666.00M
Net Common Stock Issuance -$83.00M -$271.00M -$5.92B -$389.00M -$4.71B
Cash Dividends Paid -$971.00M -$920.00M -$4.79B -$918.00M -$938.00M
Ending Cash Balance $8.06B $5.92B $5.04B $5.04B $8.11B
Net Change in Cash $2.13B $871.00M -$1.15B -$3.05B -$1.38B
Beginning Cash Balance $5.92B $5.04B $5.90B $8.11B $9.44B
Effect of Exchange Rate Changes $14.00M $13.00M $284.00M -$22.00M $45.00M
Free Cash Flow $6.60B $2.10B $5.98B -$2.04B $2.93B
Net Other Financing Charges – -$1.00M – – $1.00M
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