Company Valuation: Equinor ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 86,418 1,13,152 93,843 63,664 59,032 93,424 - -
Change - 30.94% -17.06% -32.16% -7.27% 58.26% - -
Enterprise Value (EV) 1 87,285 99,864 86,774 70,303 70,920 1,04,364 1,02,866 1,02,787
Change - 14.41% -13.11% -18.98% 0.88% 47.16% -1.43% -0.08%
P/E ratio 10.2x 3.95x 8.08x 7.5x 12.2x 9.08x 10.5x 11.4x
PBR 2.23x 2.1x 1.98x 1.55x 1.51x 2.09x 1.94x 1.84x
PEG - 0x -0.1x -0.4x -0.3x 0x -0.8x -1.39x
Capitalization / Revenue 0.95x 0.75x 0.88x 0.61x 0.55x 0.76x 0.83x 0.87x
EV / Revenue 0.96x 0.66x 0.81x 0.68x 0.67x 0.85x 0.91x 0.96x
EV / EBITDA 1.92x 1.17x 1.87x 1.72x 1.88x 2.24x 2.55x 2.9x
EV / EBIT 2.61x 1.33x 2.4x 2.36x 2.57x 2.7x 3.34x 4.11x
EV / FCF 4.2x 3.79x 6.14x 8.86x 11.9x 12.4x 13.4x 21.6x
FCF Yield 23.8% 26.4% 16.3% 11.3% 8.43% 8.04% 7.46% 4.63%
Dividend per Share 2 0.71 2.9 3.4 2.47 1.5 1.574 1.658 1.713
Rate of return 2.65% 8.12% 10.7% 10.6% 6.35% 4.19% 4.42% 4.56%
EPS 2 2.63 9.03 3.93 3.11 1.94 4.134 3.58 3.286
Distribution rate 27% 32.1% 86.5% 79.4% 77.3% 38.1% 46.3% 52.1%
Net sales 1 90,924 1,50,806 1,07,174 1,03,774 1,06,462 1,23,189 1,13,107 1,07,106
EBITDA 1 45,382 85,202 46,404 40,762 37,670 46,527 40,328 35,417
EBIT 1 33,486 74,940 36,220 29,798 27,591 38,700 30,842 25,034
Net income 1 8,563 28,746 11,885 8,806 5,043 10,588 8,842 7,670
Net Debt 1 867 -13,288 -7,069 6,639 11,888 10,940 9,442 9,363
Reference price 2 26.78 35.71 31.77 23.34 23.61 37.53 37.53 37.53
Nbr of stocks (in thousands) 32,27,308 31,68,793 29,53,894 27,28,126 24,99,842 24,89,205 - -
Announcement Date 09/02/22 07/02/23 07/02/24 05/02/25 04/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.08x0.85x2.24x4.19% 9.34TCr
17.31x3.76x7.91x4.97% 1,77600Cr
17.2x1.81x7.14x3.86% 37TCr
9.6x0.95x4.5x3.3% 26TCr
9.34x1.13x4.69x4.45% 19TCr
4.82x1.72x3.48x11.08% 13TCr
13.44x0.8x4.18x4.78% 8.09TCr
8.44x1.86x6.76x4.74% 3.93TCr
Average 11.15x 1.61x 5.11x 5.17% 36.68TCr
Weighted average by Cap. 15.07x 2.81x 6.81x 4.89%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield