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Equinor Valuation Multiples
Discover revenue and EBITDA valuation multiples for Equinor and similar public comparables like China Petroleum, China Yangtze Power, Canadian Natural Resources, Williams Companies and more.
Equinor Overview
About Equinor
Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2024 (52% liquids) and ended 2024 with 6.1 billion barrels of proven reserves (42% liquids). Operations also include offshore wind, solar, oil refineries and natural gas processing, marketing, and trading.
Founded
1972
HQ
Employees
25.7K
Website
Sectors
Financials (LTM)
EV
$106B
Equinor Financials
Equinor reported last 12-month revenue of $109B and EBITDA of $42B.
In the same LTM period, Equinor generated $46B in gross profit, $42B in EBITDA, and $8B in net income.
Revenue (LTM)
Equinor P&L
In the most recent fiscal year, Equinor reported revenue of $106B and EBITDA of $39B.
Equinor expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $109B | XXX | $106B | XXX | XXX | XXX |
| Gross Profit | $46B | XXX | $38B | XXX | XXX | XXX |
| Gross Margin | 42% | XXX | 36% | XXX | XXX | XXX |
| EBITDA | $42B | XXX | $39B | XXX | XXX | XXX |
| EBITDA Margin | 38% | XXX | 36% | XXX | XXX | XXX |
| EBIT Margin | 28% | XXX | 26% | XXX | XXX | XXX |
| Net Profit | $8B | XXX | $7B | XXX | XXX | XXX |
| Net Margin | 7% | XXX | 7% | XXX | XXX | XXX |
| Net Debt | — | — | $23B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Equinor Stock Performance
Equinor has current market cap of $94B, and enterprise value of $106B.
Market Cap Evolution
Equinor's stock price is $37.76.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $106B | $94B | 1.2% | XXX | XXX | XXX | $2.83 |
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Start Free TrialEquinor Valuation Multiples
Equinor trades at 1.0x EV/Revenue multiple, and 2.5x EV/EBITDA.
EV / Revenue (LTM)
Equinor Financial Valuation Multiples
As of April 17, 2026, Equinor has market cap of $94B and EV of $106B.
Equity research analysts estimate Equinor's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Equinor has a P/E ratio of 11.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $94B | XXX | $94B | XXX | XXX | XXX |
| EV (current) | $106B | XXX | $106B | XXX | XXX | XXX |
| EV/Revenue | 1.0x | XXX | 1.0x | XXX | XXX | XXX |
| EV/EBITDA | 2.5x | XXX | 2.8x | XXX | XXX | XXX |
| EV/EBIT | 3.4x | XXX | 3.8x | XXX | XXX | XXX |
| EV/Gross Profit | 2.3x | XXX | 2.8x | XXX | XXX | XXX |
| P/E | 11.6x | XXX | 13.4x | XXX | XXX | XXX |
| EV/FCF | 13.2x | XXX | 13.7x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Equinor Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Equinor Margins & Growth Rates
Equinor's revenue in the last 12 month grew by 4%.
Equinor's revenue per employee in the last FY averaged $4.1M, while opex per employee averaged $0.5M for the same period.
Equinor's rule of 40 is 53% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Equinor's rule of X is 69% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Equinor Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4% | XXX | 10% | XXX | XXX | XXX |
| EBITDA Margin | 38% | XXX | 36% | XXX | XXX | XXX |
| EBITDA Growth | 13% | XXX | 29% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 53% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 69% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $4.1M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 1% | XXX | 1% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 13% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Equinor Public Comps
See public comps and valuation multiples for other Oil & Gas and Energy Production comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Equinor | XXX | XXX | XXX | XXX | XXX | XXX |
| China Petroleum | XXX | XXX | XXX | XXX | XXX | XXX |
| China Yangtze Power | XXX | XXX | XXX | XXX | XXX | XXX |
| Canadian Natural Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| Williams Companies | XXX | XXX | XXX | XXX | XXX | XXX |
| Engie | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Equinor M&A Activity
Equinor acquired XXX companies to date.
Last acquisition by Equinor was on XXXXXXXX, XXXXX. Equinor acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Equinor
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialEquinor Investment Activity
Equinor invested in XXX companies to date.
Equinor made its latest investment on XXXXXXXX, XXXXX. Equinor invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Equinor
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Equinor
| When was Equinor founded? | Equinor was founded in 1972. |
| Where is Equinor headquartered? | Equinor is headquartered in Norway. |
| How many employees does Equinor have? | As of today, Equinor has over 25K employees. |
| Who is the CEO of Equinor? | Equinor's CEO is Anders Opedal. |
| Is Equinor publicly listed? | Yes, Equinor is a public company listed on NYSE. |
| What is the stock symbol of Equinor? | Equinor trades under EQNR ticker. |
| When did Equinor go public? | Equinor went public in 2001. |
| Who are competitors of Equinor? | Equinor main competitors are China Petroleum, China Yangtze Power, Canadian Natural Resources, Williams Companies. |
| What is the current market cap of Equinor? | Equinor's current market cap is $94B. |
| What is the current revenue of Equinor? | Equinor's last 12 months revenue is $109B. |
| What is the current revenue growth of Equinor? | Equinor revenue growth (NTM/LTM) is 4%. |
| What is the current EV/Revenue multiple of Equinor? | Current revenue multiple of Equinor is 1.0x. |
| Is Equinor profitable? | Yes, Equinor is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Equinor? | Equinor's last 12 months EBITDA is $42B. |
| What is Equinor's EBITDA margin? | Equinor's last 12 months EBITDA margin is 38%. |
| What is the current EV/EBITDA multiple of Equinor? | Current EBITDA multiple of Equinor is 2.5x. |
| What is the current FCF of Equinor? | Equinor's last 12 months FCF is $8B. |
| What is Equinor's FCF margin? | Equinor's last 12 months FCF margin is 7%. |
| What is the current EV/FCF multiple of Equinor? | Current FCF multiple of Equinor is 13.2x. |
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