Valuation Equinor ASA

Equities

Market Closed - Oslo Bors Other stock markets 15:45:00 06/02/2026 GMT			5-day change	1st Jan Change
265.70 ^NOK	+3.18%		+3.39%	+12.11%

02-06	W.Africa Crude-Differentials steady at week's end	RE
02-06	Danske Bank Upgrades Equinor to Buy (Hold), Raises Price Target to 285 Norwegian Kroner (270) - BN	FW

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	55,166	86,418	113,152	93,843	63,664	68,505	68,505	-
Change	-	56.65%	30.94%	-17.06%	-32.16%	7.61%	0%	-
Enterprise Value (EV) ¹	74,659	87,285	99,864	86,774	70,303	70,920	84,086	83,381
Change	-	16.91%	14.41%	-13.11%	-18.98%	0.88%	7.16%	-0.84%
P/E ratio	-10x	10.2x	3.95x	8.08x	7.5x	12.2x	11.1x	9.8x
PBR	1.62x	2.23x	2.1x	1.98x	1.55x	1.51x	1.67x	1.57x
PEG	-	-0x	0x	-0.1x	-0.4x	-0.3x	0.9x	0.7x
Capitalization / Revenue	1.2x	0.95x	0.75x	0.88x	0.61x	0.55x	0.69x	0.7x
EV / Revenue	1.63x	0.96x	0.66x	0.81x	0.68x	0.67x	0.85x	0.85x
EV / EBITDA	6.32x	1.92x	1.17x	1.87x	1.72x	1.88x	2.49x	2.46x
EV / EBIT	19x	2.61x	1.33x	2.4x	2.36x	2.57x	3.58x	3.56x
EV / FCF	39.1x	4.2x	3.79x	6.14x	8.86x	11.9x	22.5x	12.6x
FCF Yield	2.56%	23.8%	26.4%	16.3%	11.3%	8.43%	4.44%	7.93%
Dividend per Share ²	0.41	0.71	2.9	3.4	2.47	1.5	1.574	1.657
Rate of return	2.42%	2.65%	8.12%	10.7%	10.6%	6.35%	5.73%	6.03%
EPS ²	-1.69	2.63	9.03	3.93	3.11	1.94	2.476	2.804
Distribution rate	-24.3%	27%	32.1%	86.5%	79.4%	77.3%	63.6%	59.1%
Net sales ¹	45,818	90,924	150,806	107,174	103,774	106,462	99,242	97,643
EBITDA ¹	11,812	45,382	85,202	46,404	40,762	37,670	33,744	33,915
EBIT ¹	3,938	33,486	74,940	36,220	29,798	27,591	23,468	23,391
Net income ¹	-5,510	8,563	28,746	11,885	8,806	5,043	6,393	6,820
Net Debt ¹	19,493	867	-13,288	-7,069	6,639	11,888	15,580	14,875
Reference price ²	16.95	26.78	35.71	31.77	23.34	27.48	27.48	27.48
Nbr of stocks (in thousands)	3,253,801	3,227,308	3,168,793	2,953,894	2,728,126	2,493,145	2,493,145	-
Announcement Date	10/02/21	09/02/22	07/02/23	07/02/24	05/02/25	04/02/26	-	-

¹USD in Million²USD

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
EQUINOR ASA	12.46x	0.77x	2.08x	5.43%	68.51B
ARAMCO	16.75x	3.9x	7.53x	5.17%	1,644B
CHEVRON CORPORATION	26.72x	2.12x	9.63x	3.79%	358B
PETROCHINA COMPANY LIMITED	9.66x	0.69x	4.2x	5.51%	276B
SHELL PLC	12.6x	0.97x	4.65x	3.81%	215B
TOTALENERGIES SE	11.19x	1.03x	4.82x	5.16%	158B
PETROBRAS	4.22x	1.7x	3.46x	9.07%	93.67B
ENI S.P.A	13.46x	0.85x	4.21x	5.87%	63.91B
CENOVUS ENERGY INC.	13.64x	1.15x	6.19x	2.78%	38.86B
Average	13.41x	1.46x	5.20x	5.18%	324.1B
Weighted average by Cap.	16.08x	2.76x	6.76x	5.05%