EQNRNYSEPetroleum RefiningFiscal year ends December 31Also trades as STOHF
EQUINOR ASA
Financials through Q4 FY2025, quarter ended Dec 31, 2025
$46.15−0.83 (-1.77%)
Close on Oct 19, 2026
- Market cap
- $116.16B
- P/E (TTM)
- 23.8
- Dividend yield
- 3.21%
EQUINOR ASA revenue by segment
By business segment
| Revenue | Q4 25 | Q3 25 | Q2 25 | Q4 24 | Q3 24 | Q4 23 | Q4 22 | Q2 22 | Q1 22 | Q4 21 | Q2 21 | Q1 21 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MMP | $25.15B | $25.75B | $24.80B | $26.57B | $25.20B | – | – | $36.01B | $35.92B | – | $16.99B | $15.79B | 99.2% | -5.4% |
| E&P Norway | $7.83B | $8.28B | $8.24B | $9.26B | $8.08B | – | – | – | – | – | – | – | 30.9% | -15.5% |
| Exploration & Production USA - offshore | $1.05B | $1.01B | $1.04B | $958.00M | $943.00M | – | – | $1.63B | $1.27B | – | $968.00M | $993.00M | 4.1% | +9.1% |
| EPI | $868.00M | $1.32B | $1.35B | $2.18B | $1.60B | – | – | – | – | – | – | – | 3.4% | -60.2% |
| REN | $90.00M | $34.00M | $67.00M | $175.00M | $33.00M | – | – | $15.00M | $119.00M | – | $2.00M | $1.38B | 0.4% | -48.6% |
| Other | $27.00M | $40.00M | $31.00M | $29.00M | $20.00M | – | – | $42.00M | $41.00M | – | $78.00M | $111.00M | 0.1% | -6.9% |
| E&P Norway [member] | – | – | – | – | – | – | – | $16.71B | $18.45B | – | $6.25B | $5.78B | – | – |
| E&P International [member] | – | – | – | – | – | – | – | $1.84B | $1.45B | – | $1.48B | $1.05B | – | – |
| Operating income | Q4 25 | Q3 25 | Q2 25 | Q4 24 | Q3 24 | Q4 23 | Q4 22 | Q2 22 | Q1 22 | Q4 21 | Q2 21 | Q1 21 | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| E&P Norway | $4.85B | $5.62B | $5.71B | $6.80B | $5.88B | – | – | – | – | – | – | – | -28.7% |
| MMP | $778.00M | $509.00M | $329.00M | $983.00M | $544.00M | – | – | $1.46B | $492.00M | – | $144.00M | $392.00M | -20.9% |
| Exploration & Production USA - offshore | $358.00M | -$384.00M | $183.00M | $184.00M | $207.00M | – | – | $872.00M | $1.25B | – | $204.00M | $152.00M | +94.6% |
| Other | -$54.00M | -$71.00M | -$40.00M | $45.00M | -$31.00M | – | – | -$1.00M | -$76.00M | – | -$78.00M | -$76.00M | -220.0% |
| EPI | -$271.00M | -$254.00M | $415.00M | $1.02B | $407.00M | – | – | – | – | – | – | – | -126.5% |
| REN | -$295.00M | -$59.00M | -$1.00B | -$200.00M | -$166.00M | – | – | -$42.00M | $77.00M | – | -$31.00M | $1.34B | +47.5% |
| E&P Norway [member] | – | – | – | – | – | – | – | $14.48B | $16.93B | – | $4.42B | $3.35B | – |
| E&P International [member] | – | – | – | – | – | – | – | $982.00M | -$369.00M | – | $593.00M | $261.00M | – |
By product or service
| Revenue | Q4 25 | Q3 25 | Q2 25 | Q4 24 | Q3 24 | Q4 23 | Q4 22 | Q2 22 | Q1 22 | Q4 21 | Q2 21 | Q1 21 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Crude oil | $13.34B | $15.11B | $13.86B | $13.33B | $15.02B | – | – | $16.40B | $15.03B | – | $9.06B | $8.71B | 52.6% | +0.0% |
| Natural gas | $6.06B | $5.72B | $5.92B | $7.11B | $5.13B | – | – | $12.92B | $15.54B | – | $3.44B | $3.30B | 23.9% | -14.8% |
| Refined products | $2.81B | $2.62B | $2.37B | $2.56B | $2.42B | – | – | $2.53B | $2.90B | – | $2.68B | $2.37B | 11.1% | +9.8% |
| Natural gas liquids | $1.59B | $1.59B | $1.83B | $2.04B | $1.80B | – | – | $2.53B | $2.58B | – | $1.67B | $1.91B | 6.3% | -22.1% |
| Power | $624.00M | $448.00M | $357.00M | $536.00M | $378.00M | – | – | – | – | – | – | – | 2.5% | +16.4% |
| Other sales | $391.00M | $174.00M | $108.00M | $345.00M | $128.00M | – | – | $651.00M | $1.12B | – | $341.00M | $112.00M | 1.5% | +13.3% |
| Transportation | $309.00M | $328.00M | $323.00M | $278.00M | $300.00M | – | – | – | – | – | – | – | 1.2% | +11.2% |
| Transportation [Member] | – | – | – | – | – | – | – | $310.00M | $282.00M | – | $205.00M | $256.00M | – | – |
By region
From the segment and revenue-disaggregation notes of Equinor Asa's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.