Equinor ASA ADR Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $106.5B+2.6% YoYTTM through 31 Dec 2025
Net Income $5.1B-42.7% YoYTTM through 31 Dec 2025
Free Cash Flow $6BTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| EBITDA Margin | 33.1% |
| Operating Margin | 23.8% |
| Net Margin | 4.8% |
Returns
12.5%ROE
3.8%ROA
8.5%ROIC
Balance Sheet Health
Debt / Equity0.59x
Current Ratio1.71x
Net Debt$18.7B
Cash & Equivalents$5B
Quality Metrics
Piotroski F-Score5 / 9
FCF Margin5.6%
Rule of 4023.7
Earnings-Beat Rate100.0%
Multi-Year Trend
RevenueFY2025: $106.5B
Diluted EPSFY2025: $1.95
Dividend
$0.76Per share, FY20261.82%Yield+6.3%5-yr growth
Capital Allocation
Capex Intensity13.1%
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Exploration & Production Norway (E&P Norway) | $34.4B | View detailsDevelop the NCS to maximise value with Johan Castberg and Halten East tie-backs. | |
| Exploration & Production International (E&P International) | View detailsFocused growth in international oil and gas portfolio. | ||
| Exploration & Production USA (E&P USA) | View detailsOnshore and offshore asset optimization. | ||
| Marketing, Midstream & Processing (MMP) | View detailsExpected average quarterly adjusted operating income of around USD 400 million going forward. | ||
| Renewables (REN) | View detailsBuilding an integrated power business with focus on execution of sanctioned projects. |
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