Equinor ASA
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
6.857.287.397.34
Price/Sales ratio
0.800.830.910.86
Earnings per Share (EPS)
$3.48$3.27$3.22$3.25

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
19.01-10.40-19.9415.669.3435.93-9.769.973.958.046.7635.93
Price/Sales ratio
0.680.831.271.170.891.051.170.960.760.890.601.05
Price/Book Value ratio
1.091.091.661.801.631.601.582.192.101.971.431.60
Price/Cash Flow ratio
3.293.576.455.003.574.815.162.963.233.863.114.81
Price/Free Cash Flow ratio
106.75-24.84-18.4519.928.4518.6828.104.114.306.767.1118.68
Price/Earnings Growth ratio
-0.340.040.62-0.060.15-0.470.02-0.030.01-0.140.680.15
Dividend Yield
8.09%5.87%3.21%2.07%3.79%5.04%4.34%2.10%4.73%11.40%13.00%3.79%
Profitability Indicator Ratios
Gross Profit Margin
33.63%25.85%27.65%39.55%39.19%32.06%20.83%47.17%59.60%44.96%33.45%32.06%
Operating Profit Margin
18.04%3.20%0.17%22.58%25.63%14.78%-6.26%37.93%52.89%33.47%29.46%25.63%
Pretax Profit Margin
18.02%0.92%-0.38%22.01%24.02%14.77%-9.30%35.58%52.75%35.45%30.64%24.02%
Net Profit Margin
3.60%-8.05%-6.39%7.52%9.59%2.92%-12.01%9.64%19.29%11.12%8.98%2.92%
Effective Tax Rate
79.89%967.44%-1530.33%65.73%60.05%80.07%-29.04%72.84%63.43%68.57%70.66%60.05%
Return on Assets
2.22%-3.87%-2.79%4.13%6.69%1.56%-4.50%5.82%18.19%8.27%6.96%6.69%
Return On Equity
5.75%-10.57%-8.33%11.51%17.53%4.47%-16.22%21.95%53.24%24.51%20.18%17.53%
Return on Capital Employed
13.56%1.79%0.09%14.95%20.99%9.44%-2.80%31.17%69.00%33.16%30.50%20.99%
Liquidity Ratios
Current Ratio
1.421.831.511.421.561.261.62N/AN/AN/A1.441.26
Quick Ratio
1.281.671.311.251.441.091.461.511.661.601.341.09
Cash ratio
0.460.560.300.230.450.260.340.300.350.260.180.26
Days of Sales Outstanding
49.6846.0062.6256.4241.8047.7665.6757.5839.3257.8436.8547.76
Days of Inventory outstanding
21.4823.2735.6333.6516.3828.7231.0726.4331.5623.6717.0516.38
Operating Cycle
71.1669.2798.2590.0758.1976.4896.7484.0170.8881.5153.9076.48
Days of Payables Outstanding
19.7524.8632.8831.5019.3426.0227.6948.6537.6373.6747.9419.34
Cash Conversion Cycle
51.4044.4065.3758.5738.8450.4669.0535.3633.257.845.9550.46
Debt Ratios
Debt Ratio
0.220.290.300.250.220.200.270.220.180.190.190.20
Debt Equity Ratio
0.580.800.900.700.590.600.990.830.520.580.580.60
Long-term Debt to Capitalization
0.340.420.440.370.350.340.460.410.300.310.310.34
Total Debt to Capitalization
0.370.440.470.410.370.370.490.450.340.360.370.37
Interest Coverage Ratio
27.892.87-0.3526.8733.538.74-3.97N/AN/AN/A19.958.74
Cash Flow to Debt Ratio
0.560.380.280.500.760.550.300.881.230.870.780.76
Company Equity Multiplier
2.592.722.982.782.612.863.603.772.922.963.042.61
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.200.230.190.230.250.210.220.320.230.230.190.21
Free Cash Flow / Operating Cash Flow Ratio
0.03-0.14-0.340.250.420.250.180.720.750.570.430.42
Cash Flow Coverage Ratio
0.560.380.280.500.760.550.300.881.230.870.780.76
Short Term Coverage Ratio
4.775.312.453.517.994.672.265.468.064.113.464.67
Dividend Payout Ratio
153.88%-61.06%-64.20%32.48%35.46%181.33%-42.39%20.98%18.71%91.76%99.55%35.46%