InsiderClue
Stocks · Energy · Petroleum Refining

EQUINOR ASA

EQNR Clue Score46
Norway Fiscal year ends December CIK 0001140625
$43.01 +0.19% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $43.01 +62.55% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 16 May 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue45.87Operating income0.08Net income−2.92EPS, diluted−0.91Fiscal year 2017Revenue61.19 +33.4%Operating income13.77Net income4.59EPS, diluted1.40Fiscal year 2018Revenue79.59 +30.1%Operating income20.14Net income7.54 +64.2%EPS, diluted2.27 +62.1%Fiscal year 2019Revenue64.36 −19.1%Operating income9.30Net income1.84 −75.5%EPS, diluted0.55 −75.8%Fiscal year 2020Revenue45.82 −28.8%Operating income−3.42Net income−5.51 −399.0%EPS, diluted−1.69 −407.3%Fiscal year 2021Revenue90.92 +98.4%Operating income33.66Net income8.56EPS, diluted2.63Fiscal year 2022Revenue150.81 +65.9%Operating income78.81Net income28.75 +235.7%EPS, diluted9.03 +243.3%Fiscal year 2023Revenue107.17 −28.9%Operating income35.77Net income11.89 −58.7%EPS, diluted3.93 −56.5%Fiscal year 2024Revenue103.77 −3.2%Operating income30.93Net income8.81 −25.9%EPS, diluted3.11 −20.9%Fiscal year 2025Revenue106.46 +2.6%Operating income25.35Net income5.04 −42.7%EPS, diluted1.94 −37.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 45.87 61.19 79.59 64.36 45.82 90.92 150.81 107.17 103.77 106.46
Growth +33.4% +30.1% −19.1% −28.8% +98.4% +65.9% −28.9% −3.2% +2.6%
Operating income 0.08 13.77 20.14 9.30 −3.42 33.66 78.81 35.77 30.93 25.35
Net income −2.92 4.59 7.54 1.84 −5.51 8.56 28.75 11.89 8.81 5.04
Growth +64.2% −75.5% −399.0% +235.7% −58.7% −25.9% −42.7%
EPS, diluted −0.91 1.40 2.27 0.55 −1.69 2.63 9.03 3.93 3.11 1.94
Growth +62.1% −75.8% −407.3% +243.3% −56.5% −20.9% −37.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin0.2%Net margin−6.4%Free cash flow margin−7.4%Fiscal year 2017Operating margin22.5%Net margin7.5%Free cash flow margin6.6%Fiscal year 2018Operating margin25.3%Net margin9.5%Free cash flow margin10.5%Fiscal year 2019Operating margin14.4%Net margin2.9%Free cash flow margin5.5%Fiscal year 2020Operating margin−7.5%Net margin−12.0%Free cash flow margin4.2%Fiscal year 2021Operating margin37.0%Net margin9.4%Free cash flow margin22.8%Fiscal year 2022Operating margin52.3%Net margin19.1%Free cash flow margin17.5%Fiscal year 2023Operating margin33.4%Net margin11.1%Free cash flow margin17.4%Fiscal year 2024Operating margin29.8%Net margin8.5%Free cash flow margin7.0%Fiscal year 2025Operating margin23.8%Net margin4.7%Free cash flow margin5.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 0.2% 22.5% 25.3% 14.4% −7.5% 37.0% 52.3% 33.4% 29.8% 23.8%
Net margin −6.4% 7.5% 9.5% 2.9% −12.0% 9.4% 19.1% 11.1% 8.5% 4.7%
Free cash flow margin −7.4% 6.6% 10.5% 5.5% 4.2% 22.8% 17.5% 17.4% 7.0% 5.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow8.82Capital expenditure−12.19Free cash flow−3.37Dividends paid−1.88Fiscal year 2017Operating cash flow14.80Capital expenditure−10.76Free cash flow4.05Buybacks0.00Dividends paid−1.49Fiscal year 2018Operating cash flow19.69Capital expenditure−11.37Free cash flow8.33 +105.8%Buybacks0.00Dividends paid−2.67Fiscal year 2019Operating cash flow13.75Capital expenditure−10.20Free cash flow3.55 −57.4%Buybacks0.44Dividends paid−3.34Fiscal year 2020Operating cash flow10.39Capital expenditure−8.48Free cash flow1.91 −46.1%Buybacks−1.06Dividends paid−2.33Fiscal year 2021Operating cash flow28.82Capital expenditure−8.04Free cash flow20.78 +987.7%Buybacks−0.32Dividends paid−1.80Fiscal year 2022Operating cash flow35.14Capital expenditure−8.76Free cash flow26.38 +27.0%Buybacks−3.32Dividends paid−5.38Fiscal year 2023Operating cash flow29.26Capital expenditure−10.58Free cash flow18.68 −29.2%Buybacks−5.59Dividends paid−10.91Fiscal year 2024Operating cash flow19.47Capital expenditure−12.18Free cash flow7.29 −61.0%Buybacks−6.01Dividends paid−8.58Fiscal year 2025Operating cash flow19.97Capital expenditure−13.99Free cash flow5.98 −18.0%Buybacks−5.92Dividends paid−4.79
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 8.82 14.80 19.69 13.75 10.39 28.82 35.14 29.26 19.47 19.97
Capital expenditure −12.19 −10.76 −11.37 −10.20 −8.48 −8.04 −8.76 −10.58 −12.18 −13.99
Free cash flow −3.37 4.05 8.33 3.55 1.91 20.78 26.38 18.68 7.29 5.98
Growth +105.8% −57.4% −46.1% +987.7% +27.0% −29.2% −61.0% −18.0%
Buybacks n/a 0.00 0.00 0.44 −1.06 −0.32 −3.32 −5.59 −6.01 −5.92
Dividends paid −1.88 −1.49 −2.67 −3.34 −2.33 −1.80 −5.38 −10.91 −8.58 −4.79

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash5.09Total debt31.67Net cash (debt)−26.58Shareholders’ equity35.07Debt to equity0.90Fiscal year 2017Cash4.39Total debt28.27Net cash (debt)−23.88Shareholders’ equity39.86Debt to equity0.71Fiscal year 2018Cash7.56Total debt25.73Net cash (debt)−18.17Shareholders’ equity42.97Debt to equity0.60Fiscal year 2019Cash5.18Total debt24.69Net cash (debt)−19.52Shareholders’ equity41.14Debt to equity0.60Fiscal year 2020Cash6.76Total debt33.71Net cash (debt)−26.95Shareholders’ equity33.87Debt to equity1.00Fiscal year 2021Cash13.99Total debt32.68Net cash (debt)−18.69Shareholders’ equity39.01Debt to equity0.84Fiscal year 2022Cash9.45Total debt28.50Net cash (debt)−19.05Shareholders’ equity53.99Debt to equity0.53Fiscal year 2023Cash8.07Total debt28.23Net cash (debt)−20.16Shareholders’ equity48.49Debt to equity0.58Fiscal year 2024Cash5.90Total debt26.58Net cash (debt)−20.68Shareholders’ equity42.34Debt to equity0.63Fiscal year 2025Cash5.04Total debt27.81Net cash (debt)−22.77Shareholders’ equity40.42Debt to equity0.69
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 5.09 4.39 7.56 5.18 6.76 13.99 9.45 8.07 5.90 5.04
Total debt 31.67 28.27 25.73 24.69 33.71 32.68 28.50 28.23 26.58 27.81
Net cash (debt) −26.58 −23.88 −18.17 −19.52 −26.95 −18.69 −19.05 −20.16 −20.68 −22.77
Shareholders’ equity 35.07 39.86 42.97 41.14 33.87 39.01 53.99 48.49 42.34 40.42
Debt to equity 0.90 0.71 0.60 0.60 1.00 0.84 0.53 0.58 0.63 0.69

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
0.2% 22.5% 25.3% 14.4% −7.5% 37.0% 52.3% 33.4% 29.8% 23.8%
−0.4% 21.9% 23.7% 14.4% −9.3% 34.7% 52.1% 35.3% 29.9% 23.6%
−6.4% 7.5% 9.5% 2.9% −12.0% 9.4% 19.1% 11.1% 8.5% 4.7%
−7.4% 6.6% 10.5% 5.5% 4.2% 22.8% 17.5% 17.4% 7.0% 5.6%
Spending
0.6% 0.5% 0.4% 0.5% 0.6% 0.3% 0.2% 0.3% 0.3% 0.3%
1.7% 1.2% 1.0% 1.3% 1.5% 0.9% 0.7% 1.1% 1.2% 1.1%
26.6% 17.6% 14.3% 15.9% 18.5% 8.8% 5.8% 9.9% 11.7% 13.1%
n/a 65.7% 60.1% 80.1% n/a 72.8% 63.4% 68.6% 71.5% 79.8%
Returns
−8.3% 11.5% 17.5% 4.5% −16.3% 22.0% 53.2% 24.5% 20.8% 12.5%
−2.8% 4.1% 6.7% 1.5% −4.4% 5.8% 18.2% 8.3% 6.7% 3.8%
Balance and payout
0.90 0.71 0.60 0.60 1.00 0.84 0.53 0.58 0.63 0.69
66.4% 64.1% 61.8% 65.7% 72.8% 73.5% 65.8% 66.2% 67.7% 69.3%
n/a 32.5% 35.5% 181.3% n/a 21.0% 18.7% 91.8% 97.4% 95.0%
n/a 36.8% 32.1% 81.8% 177.4% 10.2% 33.0% 88.3% 200.2% 179.1%