Financials Equinor ASA

Equities

EQNR

NO0010096985

Integrated Oil & Gas

Market Closed - Oslo Bors Other stock markets 10:45:00 2025-01-23 am EST			5-day change	1st Jan Change
276.50 ^NOK	+1.30%		-2.97%	+4.18%

Jan. 21	European Equities Traded in the US as American Depositary Receipts Rise Tuesday	MT
Jan. 21	Orsted: Heavy depreciation

Projected Income Statement: Equinor ASA

income-statement-evolution-chart EQUINOR-ASA

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	64,357	45,818	90,924	150,806	107,174	102,093	97,786	94,685
Change	-	-28.81%	98.45%	65.86%	-28.93%	-4.74%	-4.22%	-3.17%
EBITDA ¹	22,503	11,812	45,382	85,202	46,404	39,448	38,870	36,478
Change	-	-47.51%	284.2%	87.74%	-45.54%	-14.99%	-1.47%	-6.15%
EBIT ¹	13,484	3,938	33,486	74,940	36,220	30,072	29,300	26,448
Change	-	-70.8%	750.33%	123.8%	-51.67%	-16.97%	-2.57%	-9.73%
Interest Paid ¹	-704	-836	-2,080	-207	2,114	-611.3	-447.5	-444.2
Earnings before Tax (EBT) ¹	9,292	-4,259	31,583	78,604	37,884	30,673	29,730	27,881
Change	-	-	-	148.88%	-51.8%	-19.04%	-3.07%	-6.22%
Net income ¹	1,843	-5,510	8,563	28,746	11,885	8,893	8,157	7,964
Change	-	-	-	235.7%	-58.66%	-25.17%	-8.27%	-2.37%
Announcement Date	2/6/20	2/10/21	2/9/22	2/7/23	2/7/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	15,169	15,130	7,563	11,339	11,746	17,549	17,462	23,264	32,608	36,393	36,459	43,633	34,321	29,224	22,872	26,024	29,054	25,135	25,538	25,446	25,845	24,968	24,506	23,319	25,988	-	-	-
Change	-	-0.26%	-50.01%	49.93%	3.59%	49.4%	-0.5%	33.23%	40.17%	11.61%	0.18%	19.68%	-21.34%	-14.85%	-21.74%	13.78%	11.64%	-13.49%	1.6%	-0.36%	1.57%	-3.39%	-1.85%	-4.84%	11.44%	-100%	-	-
EBITDA ¹	5,681	4,496	2,050	2,779	2,489	8,017	7,409	11,601	18,355	20,409	19,873	28,243	17,768	14,717	9,294	10,822	11,569	9,976	9,830	9,223	9,902	10,551	10,078	9,730	10,421	10,764	9,166	9,100
Change	-	-20.86%	-54.4%	35.56%	-10.44%	222.1%	-7.58%	56.58%	58.22%	11.19%	-2.63%	42.12%	-37.09%	-17.17%	-36.85%	16.44%	6.9%	-13.77%	-1.46%	-6.17%	7.36%	6.56%	-4.49%	-3.45%	7.09%	3.3%	-14.85%	-0.71%
EBIT ¹	3,550	2,050	350	780	756	5,467	5,298	9,771	14,989	17,991	17,590	24,301	15,059	11,973	7,543	8,024	8,681	7,533	7,482	6,887	7,945	8,128	7,733	7,387	7,949	8,190	6,598	6,537
Change	-	-42.25%	-82.93%	122.86%	-3.08%	623.15%	-3.09%	84.43%	53.4%	20.03%	-2.23%	38.15%	-38.03%	-20.49%	-37%	6.38%	8.19%	-13.22%	-0.68%	-7.95%	15.36%	2.3%	-4.86%	-4.47%	7.61%	3.03%	-19.43%	-0.92%
Charge d'intérêts ¹	-211	23	-248	-201	-410	-707	-393	-536	-443	-1,169	2,023	-	-	1,189	323	13	589	-366	126	365	-414	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	1,020	81	-720	-2,220	-1,400	4,513	4,905	9,031	13,135	17,223	19,756	27,156	14,469	13,707	7,374	7,466	9,337	7,998	7,530	7,271	8,107	8,331	8,118	8,140	8,499	-	-	-
Change	-	-92.06%	-	208.33%	-36.94%	-	8.69%	84.12%	45.44%	31.12%	14.71%	37.46%	-46.72%	-5.27%	-46.2%	1.25%	25.06%	-14.34%	-5.85%	-3.44%	11.49%	2.77%	-2.55%	0.26%	4.41%	-100%	-	-
Net income ¹	-236	-710	-250	-2,127	-2,421	1,851	1,940	1,410	3,368	4,710	6,760	9,384	7,895	4,962	1,830	2,497	2,603	2,668	1,872	2,285	2,111	2,405	2,365	2,261	2,262	-	-	-
Change	-	200.85%	-64.79%	750.8%	13.82%	-	4.81%	-27.32%	138.87%	39.85%	43.52%	38.82%	-15.87%	-37.15%	-63.12%	36.45%	4.25%	2.5%	-29.84%	22.06%	-7.6%	13.9%	-1.65%	-4.4%	0.02%	-100%	-	-
Announcement Date	2/6/20	5/7/20	7/24/20	10/29/20	2/10/21	4/29/21	7/28/21	10/27/21	2/9/22	5/4/22	7/27/22	10/27/22	2/7/23	5/4/23	7/26/23	10/27/23	2/7/24	4/25/24	7/24/24	10/24/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Equinor ASA

balance-sheet-analysis-chart EQUINOR-ASA

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	16,429	19,493	867	-13,288	-7,069	3,954	7,696	10,410
Change	-	18.65%	-95.55%	-1,632.64%	-153.2%	-44.07%	94.64%	35.27%
Announcement Date	2/6/20	2/10/21	2/9/22	2/7/23	2/7/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Equinor ASA

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	10,204	8,476	8,040	8,758	10,575	12,621	13,267	13,798
Change	-	-16.93%	-5.14%	8.93%	20.75%	19.35%	5.12%	4%
Free Cash Flow (FCF) ¹	3,545	1,910	20,776	26,378	14,126	6,670	5,324	2,964
Change	-	-46.12%	987.75%	26.96%	-46.45%	-52.78%	-20.18%	-44.33%
Announcement Date	2/6/20	2/10/21	2/9/22	2/7/23	2/7/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Equinor ASA

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	34.97%	25.78%	49.91%	56.5%	43.3%	38.64%	39.75%	38.53%
EBIT Margin (%)	20.95%	8.59%	36.83%	49.69%	33.8%	29.46%	29.96%	27.93%
EBT Margin (%)	14.44%	-9.3%	34.74%	52.12%	35.35%	30.04%	30.4%	29.45%
Net margin (%)	2.86%	-12.03%	9.42%	19.06%	11.09%	8.71%	8.34%	8.41%
FCF margin (%)	5.51%	4.17%	22.85%	17.49%	13.18%	6.53%	5.44%	3.13%
FCF / Net Income (%)	192.35%	-34.66%	242.63%	91.76%	118.86%	75.01%	65.27%	37.22%
Profitability
ROA	4.27%	0.77%	7.35%	18.84%	7.88%	6.38%	6.6%	6.63%
ROE	11.72%	2.46%	27.44%	61.82%	23.2%	19.4%	19%	18.88%
Financial Health
Leverage (Debt/EBITDA)	0.73x	1.65x	0.02x	-	-	0.1x	0.2x	0.29x
Debt / Free cash flow	4.63x	10.21x	0.04x	-	-	0.59x	1.45x	3.51x
Capital Intensity
CAPEX / Current Assets (%)	15.86%	18.5%	8.84%	5.81%	9.87%	12.36%	13.57%	14.57%
CAPEX / EBITDA (%)	45.35%	71.76%	17.72%	10.28%	22.79%	31.99%	34.13%	37.82%
CAPEX / FCF (%)	287.84%	443.77%	38.7%	33.2%	74.86%	189.21%	249.2%	465.53%
Items per share
Cash flow per share ¹	4.134	3.169	8.856	11.04	8.16	7.425	6.875	6.488
Change	-	-23.33%	179.41%	24.69%	-26.1%	-9.01%	-7.4%	-5.63%
Dividend per Share ¹	1.05	0.41	0.71	2.9	3.4	2.619	1.603	1.566
Change	-	-60.95%	73.17%	308.45%	17.24%	-22.97%	-38.8%	-2.3%
Book Value Per Share ¹	12.42	10.43	12.02	17.01	16.02	15.78	16.38	17.65
Change	-	-15.97%	15.21%	41.54%	-5.85%	-1.48%	3.8%	7.73%
EPS ¹	0.55	-1.69	2.63	9.03	3.93	3.161	3.186	3.178
Change	-	-407.27%	-255.62%	243.35%	-56.48%	-19.57%	0.8%	-0.24%
Nbr of stocks (in thousands)	3,299,021	3,253,801	3,227,308	3,168,793	2,953,894	2,722,115	2,722,115	2,722,115
Announcement Date	2/6/20	2/10/21	2/9/22	2/7/23	2/7/24	-	-	-