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Equinor ASA ADR (EQNR) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

ENERGY · OIL & GAS INTEGRATED · DATA UPDATED 2026-07-19

Equinor ASA ADR (EQNR) operates in the OIL & GAS INTEGRATED industry and is headquartered in Stavanger, Norway with about 23,545 employees. Its market capitalization is roughly $96 billion. In the fiscal year ended 2025-12-31, EQNR reported $106.2B in revenue and $5.1B in net income.

Equinor ASA operates as an energy company in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; and Renewables segments.

Interactive charts & full statements → Open the EQNR valuation workbench →

EQNR Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$104.2B	$106.2B	$102.5B	$106.8B	$149.0B	$88.7B	$45.8B	$62.9B	$78.8B	$61.0B	$45.7B	$57.6B	$96.2B	$104.9B	$121.0B	$115.2B	$87.1B	$73.5B	$115.5B	$90.7B	$80.9B
Gross Profit	$36.5B	$28.5B	$42.6B	$48.0B	$88.8B	$41.9B	$9.5B	$20.2B	$19.3B	$13.1B	$2.5B	$7.4B	$20.8B	$25.6B	$34.6B	$35.4B	$24.4B	$21.1B	$36.4B	$27.9B	$28.2B
Gross Margin %	35.0%	26.8%	41.6%	45.0%	59.6%	47.2%	20.8%	32.1%	24.5%	21.5%	5.5%	12.9%	21.6%	24.4%	28.6%	30.8%	28.0%	28.7%	31.6%	30.8%	34.9%
Operating Income (EBIT)	$25.8B	$27.3B	$30.9B	$35.8B	$78.8B	$33.7B	($3.4B)	$9.3B	$18.5B	$12.4B	$1.8B	$7.0B	$20.0B	$24.0B	$32.7B	$33.1B	$23.5B	$20.4B	$35.9B	$27.4B	$26.6B
Operating Margin %	24.8%	25.7%	30.2%	33.5%	52.9%	37.9%	-7.5%	14.8%	23.5%	20.3%	3.9%	12.2%	20.8%	22.9%	27.0%	28.7%	27.0%	27.8%	31.1%	30.2%	32.8%
Net Income	$5.5B	$5.1B	$8.8B	$11.9B	$28.7B	$8.6B	($5.5B)	$1.8B	$7.5B	$4.6B	($2.9B)	($4.3B)	$2.9B	$6.6B	$12.3B	$13.2B	$6.5B	$3.1B	$6.2B	$8.1B	$6.5B
Net Margin %	5.3%	4.8%	8.6%	11.1%	19.3%	9.7%	-12.0%	2.9%	9.6%	7.5%	-6.4%	-7.4%	3.1%	6.3%	10.2%	11.5%	7.4%	4.2%	5.4%	8.9%	8.1%
EBITDA	$39.5B	$36.5B	$41.9B	$49.6B	$86.3B	$44.1B	$12.0B	$23.5B	$29.5B	$23.8B	$11.2B	$12.7B	$31.1B	$35.4B	$46.3B	$48.1B	$30.7B	$26.5B	$40.0B	$31.6B	$32.3B
Earnings Per Share (EPS)	$2.18	$1.94	$3.11	$3.93	$9.03	$2.63	$-1.69	$0.55	$2.27	$1.40	$-0.91	$-1.34	$0.92	$2.06	$3.87	$4.15	$2.04	$0.96	$1.95	$2.54	$3.01
Shares Outstanding (M)	2,503M	2,601M	2,827M	3,027M	3,183M	3,254M	3,269M	3,334M	3,326M	3,268M	3,195M	3,179M	3,188M	3,192M	3,190M	3,182M	3,183M	3,184M	3,186M	3,196M	2,163M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQNR Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$27.8B	$25.3B	$26.0B	$25.1B	$29.4B	$26.5B	$25.4B	$25.5B
Gross Profit	$12.3B	$6.4B	$8.8B	$9.0B	$11.6B	$10.8B	$10.0B	$11.0B
Gross Margin %	44.3%	25.1%	33.8%	35.7%	39.6%	40.9%	39.3%	43.1%
Operating Income (EBIT)	$8.8B	$6.1B	$5.3B	$5.7B	$8.9B	$8.7B	$6.9B	$7.7B
Operating Margin %	31.6%	24.0%	20.3%	22.8%	30.2%	32.9%	27.2%	30.1%
Net Income	$3.1B	$1.3B	($210M)	$1.3B	$2.6B	$2.0B	$2.3B	$1.9B
Net Margin %	11.2%	5.2%	-0.8%	5.2%	8.9%	7.5%	9.0%	7.3%
EBITDA	$12.7B	$8.8B	$8.4B	$9.5B	$11.5B	$10.9B	$10.0B	$10.3B
Earnings Per Share (EPS)	$1.24	$0.52	$-0.08	$0.50	$0.93	$0.73	$0.82	$0.65
Shares Outstanding (M)	2,503M	2,518M	2,629M	2,629M	2,827M	2,746M	2,767M	2,856M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQNR Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$16.2B	$20.0B	$20.1B	$24.7B	$35.1B	$28.8B	$10.4B	$13.7B	$19.7B	$14.4B	$9.0B	$12.4B	$17.0B	$16.7B	$22.9B	$18.7B	$13.7B	$12.6B	$14.7B	$17.3B	$9.8B
Capital Expenditures (CapEx)	$14.1B	$14.0B	$12.2B	$10.6B	$8.8B	$8.0B	$8.5B	$10.2B	$11.4B	$10.8B	$12.2B	$14.2B	$16.5B	$18.6B	$20.1B	$15.5B	$13.3B	$13.0B	$10.0B	$13.1B	$6.7B
Free Cash Flow (FCF)	$2.1B	$5.9B	$7.9B	$14.1B	$26.4B	$20.8B	$1.9B	$3.5B	$8.3B	$3.6B	($3.2B)	($1.8B)	$525M	($2.0B)	$2.8B	$3.2B	$431M	($371M)	$4.8B	$4.2B	$3.0B
FCF Margin %	2.0%	5.6%	7.7%	13.2%	17.7%	23.4%	4.2%	5.6%	10.6%	5.9%	-6.9%	-3.1%	0.5%	-1.9%	2.3%	2.8%	0.5%	-0.5%	4.1%	4.7%	3.8%
Dividends Paid	$3.8B	$4.8B	$8.6B	$10.9B	$5.4B	$1.8B	$2.3B	$3.3B	$2.7B	$1.5B	$1.9B	$2.6B	$4.5B	$3.5B	$3.7B	$3.3B	$3.2B	$4.0B	$3.9B	$4.7B	$2.8B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQNR Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$5.2B	$2.1B	$6.3B	$2.6B	$9.0B	$2.4B	$7.1B	$1.8B
Capital Expenditures (CapEx)	$3.1B	$4.1B	$3.4B	$3.4B	$3.0B	$3.6B	$3.1B	$3.0B
Free Cash Flow (FCF)	$2.1B	($2.1B)	$2.9B	($890M)	$6.0B	($1.2B)	$4.0B	($1.1B)
FCF Margin %	7.5%	-8.1%	11.2%	-3.5%	20.5%	-4.6%	15.6%	-4.5%
Dividends Paid	$920M	$918M	$935M	$1.0B	$1.9B	$1.9B	$1.9B	$2.1B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

EQNR Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$141.2B	$131.7B	$131.1B	$143.6B	$158.0B	$147.1B	$124.8B	$119.9B	$112.5B	$111.1B	$104.5B	$110.0B	$132.7B	$145.6B	$140.5B	$128.8B	$109.4B	$97.1B	$83.1B	$89.0B	$50.6B
Cash & Cash Equivalents	$5.9B	$5.0B	$8.1B	$9.6B	$9.4B	$12.0B	$3.1B	$5.2B	$7.6B	$4.4B	$5.1B	$8.6B	$11.2B	$14.0B	$11.7B	$6.8B	$5.2B	$4.3B	$2.7B	$3.4B	$1.2B
Total Liabilities	$97.5B	$91.2B	$88.8B	$95.1B	$104.0B	$108.1B	$90.9B	$78.7B	$69.5B	$71.2B	$69.4B	$69.6B	$81.4B	$87.1B	$83.2B	$81.0B	$70.9B	$62.6B	$52.1B	$56.0B	$30.8B
Total Debt (Short + Long-Term)	$29.1B	$29.0B	$27.8B	$29.5B	$29.8B	$33.8B	$38.1B	$29.0B	$25.8B	$28.3B	$31.7B	$32.3B	$31.0B	$30.1B	$21.5B	$22.2B	$18.9B	$18.0B	$10.8B	$8.2B	$5.7B
Total Shareholders' Equity	$43.6B	$40.4B	$42.3B	$48.5B	$54.0B	$39.0B	$33.9B	$41.1B	$43.0B	$39.9B	$35.1B	$40.4B	$51.2B	$58.5B	$57.2B	$46.7B	$37.3B	$34.2B	$30.8B	$32.6B	$19.6B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive EQNR viewer.

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