QualityDipStocks / Energy · Integrated oil
Equinor ASA EQNR
Not in a dip: trading near its 52-week high.
A quality company. No fair value estimate for now: a capital-spending surge is squeezing its free cash flow.
- Fair value est.
- n/a
- Market Value
- —
- Off 52-wk high
- at the high
- Risk vs market
- Lowbeta −1.08
3 bullish · 5 bearish See why
Key levels
Every level vs today’s $48.75
- 52-wk lowlowest close, 1 year$22.41−54.0%
- PriceFri Oct 30 close$48.75you are here
- 52-wk highhighest close, 1 year$48.82+0.1%
Fair value estimate
Estimate unreliable for EQNR: free cash flow is squeezed by a capital-spending surge (capex is 70% of operating cash flow over the last 12 months, vs 25% in FY2022), so a DCF on today's free cash flow would understate the business. We’d rather show nothing than a made-up number.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 30 to Oct 30, 252 sessions). Beta = how much EQNR moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Moves much less than the market, but its own price swings are 3.0× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- -1.08
- Volatility
- 39% vs 13% SPY
- Correlation SPY
- −0.35
- Correlation QQQ
- −0.33
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 3 of 5
Cash returnsDividend yield of 4.0% ($4.8B paid over 12 months, 95% of earnings).
ValuationFree-cash-flow yield of 5.0% (price / FCF 19.9×): $6.0B of free cash in the last 12 months.
QualityPasses all four of our quality checks: cash generation, returns on capital, growth and balance sheet.
Top bearish points 5 of 5
ValuationP/E of 23.6× is 154% above its own average of 9.3× at the last 3 fiscal year-ends.
ProfitabilityOperating margin narrowed to 23.8% in FY2025 from 33.4% in FY2023 (SEC filings).
GrowthDiluted EPS fell 38% to $1.94 in FY2025.
GrowthSales shrank 11% a year from FY2022 to FY2025.
ProfitabilityGross margin narrowed to 48.2% in FY2025 from 55.0% in FY2023 (SEC filings).
Who’s talking about it
Notable investors, executives, analysts and public figures on Equinor ASA in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 1, 9:09 PM ET.
Compare with peers
Closest in size in Integrated oil
All fundamentals
P/E 23.6 · FCF yield 5.0% · ROE 12%
Valuation
- P/E
- 23.6×3-yr-end avg 9.3× · Energy median 16.2×
- Price / FCF
- 19.9×
- FCF yield
- 5.0%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 1.12×
- Price / book
- 2.94×
- Market cap
- $119Blisted
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $106B
- Sales growth, 12 months
- +2.6%vs the 12 months before
- Sales growth, 3 yrs
- −11.0%/yrfrom FY2022
- Diluted EPS, 12 months
- $1.94
- EPS growth, last FY
- −37.6%
- Net income, 12 months
- $5.0B
- Net income growth
- −43%12 months vs before
Profitability
- Gross margin
- 48.2%
- Operating margin
- 23.8%
- Net margin
- 4.7%
- FCF margin
- 5.6%
- Return on equity
- 12%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $5.0B
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- n/ainterest expense not tagged in SEC data
Cash flow & returns
- Free cash flow, 12 months
- $6.0B
- FCF growth, 12 months
- −18%
- Dividend yield
- 4.03%$4.8B paid
- Payout ratio
- 95%
- Buybacks, 12 months
- $5.9B5.0% of market cap
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Dec 31, 2025; balance sheet at Dec 31, 2025. From Equinor ASA’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
Valuation details
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only arm once a company is in a dip.
Momentum & 52-week range
RSI 66 · 5 days −0.1%
The business
FCF $11.3B · Sales +27%
- Free cash flow, 12 months$11.3B
- Free-cash-flow yield9.5%
- Free-cash-flow margin9%
- Gross margin44%
- Operating margin32%
- Return on invested capital43%
- Return on equity28%
- Sales growth (latest quarter vs year-ago quarter)+27%
- Net debt / EBITDA0.4×
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.
Get a text when EQNR fires a reversal signal
One text when a published rule fires on EQNR or any of the 333 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.