EQNR (Equinor ASA) Stock Financials & Earnings | Market Cap Arena

EQNR (Equinor ASA) Stock Financials & Earnings | Market Cap Arena

EQNREquinor ASA

Mkt Cap$83B

Energy·Oil & Gas Integrated·🇳🇴 Norway·NYSE

Revenue (TTM)$105.8B

Net Income (TTM)$5.0B

EPS (TTM)$1.87

Free Cash Flow (TTM)$6.0B

Gross Margin33.8%

Op. Margin24.5%

Net Margin4.8%

FCF Margin5.7%

P/S Ratio (TTM)0.8x

P/E Ratio (TTM)16.4x

YoY Rev Growth+3.2%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$29.2B	$15.8B	$12.5B
Q2 23	$22.9B	$9.8B	$7.1B
Q3 23	$25.9B	$10.3B	$7.5B
Q4 23	$28.8B	$12.2B	$8.7B
Q1 24	$25.1B	$10.8B	$7.6B
Q2 24	$25.5B	$11.0B	$7.7B
Q3 24	$25.4B	$10.0B	$6.9B
Q4 24	$26.5B	$10.8B	$8.7B
Q1 25	$29.4B	$11.6B	$8.9B
Q2 25	$25.1B	$9.0B	$5.7B
Q3 25	$26.0B	$8.8B	$5.3B
Q4 25	$25.3B	$6.4B	$6.1B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	0.6x	2.9x
Q2 23	0.6x	3.4x
Q3 23	0.7x	4.8x
Q4 23	0.8x	7.0x
Q1 24	0.8x	8.6x
Q2 24	0.8x	8.6x
Q3 24	0.8x	8.8x
Q4 24	0.8x	9.4x
Q1 25	0.8x	9.4x
Q2 25	0.8x	10.1x
Q3 25	0.8x	14.5x
Q4 25	0.8x	16.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$14.9B	$12.6B
Q2 23	$1.9B	-$985M
Q3 23	$5.2B	$2.6B
Q4 23	$2.7B	-$294M
Q1 24	$9.0B	$6.5B
Q2 24	$1.8B	-$1.1B
Q3 24	$7.1B	$4.0B
Q4 24	$2.4B	-$1.2B
Q1 25	$9.0B	$6.0B
Q2 25	$2.6B	-$890M
Q3 25	$6.3B	$2.9B
Q4 25	$2.1B	-$2.1B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$2.3B
Q2 23	$2.8B
Q3 23	$2.7B
Q4 23	$3.0B
Q1 24	$2.5B
Q2 24	$3.0B
Q3 24	$3.1B
Q4 24	$3.6B
Q1 25	$3.0B
Q2 25	$3.4B
Q3 25	$3.4B
Q4 25	$4.1B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-19.0%	-5.5%
Q2 23	-37.1%	-15.2%
Q3 23	-39.3%	+11.1%
Q4 23	-14.8%	+16.4%
Q1 24	-14.1%	+4.6%
Q2 24	+11.3%	+12.6%
Q3 24	-2.0%	+0.2%
Q4 24	-8.0%	-11.4%
Q1 25	+17.1%	+17.5%
Q2 25	-1.3%	+9.0%
Q3 25	+2.4%	+12.1%
Q4 25	-4.8%	+7.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$300K	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 23	$304M
Q2 23	$216M
Q3 23	$295M
Q4 23	$404M
Q1 24	$341M
Q2 24	$348M
Q3 24	$304M
Q4 24	$261M
Q1 25	$323M
Q2 25	$329M
Q3 25	$258M
Q4 25	$298M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$17.9B	$34.6B	$52.5B
Q2 23	$19.6B	$22.9B	$42.6B
Q3 23	$12.6B	$25.3B	$37.9B
Q4 23	$5.7B	$33.1B	$38.9B
Q1 24	$8.2B	$27.5B	$35.8B
Q2 24	$7.3B	$23.4B	$30.7B
Q3 24	$6.2B	$22.7B	$28.9B
Q4 24	$8.1B	$15.3B	$23.5B
Q1 25	$7.4B	$17.5B	$24.8B
Q2 25	$9.5B	$14.3B	$23.8B
Q3 25	$8.1B	$14.3B	$22.4B
Q4 25	$5.0B	$14.3B	$19.3B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	3.12B	-0.5%
Q2 23	3.05B	-2.4%
Q3 23	2.98B	-2.3%
Q4 23	2.96B	-0.6%
Q1 24	2.94B	-0.6%
Q2 24	2.86B	-2.9%
Q3 24	2.77B	-3.1%
Q4 24	2.75B	-0.8%
Q1 25	2.83B	+2.9%
Q2 25	2.63B	-7.0%
Q3 25	2.63B	+0.0%
Q4 25	2.52B	-4.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$4M	23K
FY 15	$3M	23K
FY 16	$2M	22K
FY 17	$3M	21K
FY 18	$4M	21K
FY 19	$3M	21K
FY 20	$2M	21K
FY 21	$4M	21K
FY 22	$7M	21K
FY 23	$5M	23K
FY 24	$4M	25K
FY 25	$4M	25K