EQNR Relative Valuation
EQNR's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, EQNR is overvalued; if below, it's undervalued.
Historical Valuation
Equinor ASA (EQNR) is now in the Fair zone, suggesting that its current forward PE ratio of 9.35 is considered Fairly compared with the five-year average of 7.03. The fair price of Equinor ASA (EQNR) is between 16.44 to 25.56 according to relative valuation methord.
Relative Value
Fair Zone
16.44-25.56
Current Price：23.17
Fair
9.35
PE
1Y
3Y
5Y
1.94
EV/EBITDA
Equinor ASA. (EQNR) has a current EV/EBITDA of 1.94. The 5-year average EV/EBITDA is 1.83. The thresholds are as follows: Strongly Undervalued below 0.95, Undervalued between 0.95 and 1.39, Fairly Valued between 2.26 and 1.39, Overvalued between 2.26 and 2.70, and Strongly Overvalued above 2.70. The current Forward EV/EBITDA of 1.94 falls within the Historic Trend Line -Fairly Valued range.
2.82
EV/EBIT
Equinor ASA. (EQNR) has a current EV/EBIT of 2.82. The 5-year average EV/EBIT is 2.37. The thresholds are as follows: Strongly Undervalued below 0.93, Undervalued between 0.93 and 1.65, Fairly Valued between 3.10 and 1.65, Overvalued between 3.10 and 3.82, and Strongly Overvalued above 3.82. The current Forward EV/EBIT of 2.82 falls within the Historic Trend Line -Fairly Valued range.
0.71
PS
Equinor ASA. (EQNR) has a current PS of 0.71. The 5-year average PS is 0.77. The thresholds are as follows: Strongly Undervalued below 0.56, Undervalued between 0.56 and 0.66, Fairly Valued between 0.87 and 0.66, Overvalued between 0.87 and 0.98, and Strongly Overvalued above 0.98. The current Forward PS of 0.71 falls within the Historic Trend Line -Fairly Valued range.
3.48
P/OCF
Equinor ASA. (EQNR) has a current P/OCF of 3.48. The 5-year average P/OCF is 3.45. The thresholds are as follows: Strongly Undervalued below 2.38, Undervalued between 2.38 and 2.91, Fairly Valued between 3.99 and 2.91, Overvalued between 3.99 and 4.53, and Strongly Overvalued above 4.53. The current Forward P/OCF of 3.48 falls within the Historic Trend Line -Fairly Valued range.
11.84
P/FCF
Equinor ASA. (EQNR) has a current P/FCF of 11.84. The 5-year average P/FCF is 8.12. The thresholds are as follows: Strongly Undervalued below 1.55, Undervalued between 1.55 and 4.83, Fairly Valued between 11.40 and 4.83, Overvalued between 11.40 and 14.68, and Strongly Overvalued above 14.68. The current Forward P/FCF of 11.84 falls within the Overvalued range.
Equinor ASA (EQNR) has a current Price-to-Book (P/B) ratio of 1.50. Compared to its 3-year average P/B ratio of 1.65 , the current P/B ratio is approximately -9.11% higher. Relative to its 5-year average P/B ratio of 1.92, the current P/B ratio is about -22.10% higher. Equinor ASA (EQNR) has a Forward Free Cash Flow (FCF) yield of approximately 11.73%. Compared to its 3-year average FCF yield of 15.93%, the current FCF yield is approximately -26.40% lower. Relative to its 5-year average FCF yield of 16.69% , the current FCF yield is about -29.75% lower.
1.50
P/B
Median3y
1.65
Median5y
1.92
11.73
FCF Yield
Median3y
15.93
Median5y
16.69
Competitors Valuation Multiple
The average P/S ratio for EQNR's competitors is 1.08, providing a benchmark for relative valuation. Equinor ASA Corp (EQNR) exhibits a P/S ratio of 0.71, which is -34.26% above the industry average. Given its robust revenue growth of 2.36%, this premium appears unsustainable.
Performance Decomposition
1Y
3Y
5Y
Market capitalization of EQNR decreased by 1.95% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 5.47 to 11.19.
The secondary factor is the Revenue Growth, contributed 2.36%to the performance.
Overall, the performance of EQNR in the past 1 year is driven by P/E Change. Which is more unsustainable.
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Frequently Asked Questions
Is Equinor ASA (EQNR) currently overvalued or undervalued?
Equinor ASA (EQNR) is now in the Fair zone, suggesting that its current forward PE ratio of 9.35 is considered Fairly compared with the five-year average of 7.03. The fair price of Equinor ASA (EQNR) is between 16.44 to 25.56 according to relative valuation methord.
What is Equinor ASA (EQNR) fair value?
EQNR's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average , adjusted by weights. The fair price of Equinor ASA (EQNR) is between 16.44 to 25.56 according to relative valuation methord.
How does EQNR's valuation metrics compare to the industry average?
The average P/S ratio for EQNR's competitors is 1.08, providing a benchmark for relative valuation. Equinor ASA Corp (EQNR) exhibits a P/S ratio of 0.71, which is -34.26% above the industry average. Given its robust revenue growth of 2.36%, this premium appears unsustainable.
What is the current P/B ratio for Equinor ASA (EQNR) as of Jan 07 2026?
As of Jan 07 2026, Equinor ASA (EQNR) has a P/B ratio of 1.50. This indicates that the market values EQNR at 1.50 times its book value.
What is the current FCF Yield for Equinor ASA (EQNR) as of Jan 07 2026?
As of Jan 07 2026, Equinor ASA (EQNR) has a FCF Yield of 11.73%. This means that for every dollar of Equinor ASA’s market capitalization, the company generates 11.73 cents in free cash flow.
What is the current Forward P/E ratio for Equinor ASA (EQNR) as of Jan 07 2026?
As of Jan 07 2026, Equinor ASA (EQNR) has a Forward P/E ratio of 9.35. This means the market is willing to pay $9.35 for every dollar of Equinor ASA’s expected earnings over the next 12 months.
What is the current Forward P/S ratio for Equinor ASA (EQNR) as of Jan 07 2026?
As of Jan 07 2026, Equinor ASA (EQNR) has a Forward P/S ratio of 0.71. This means the market is valuing EQNR at $0.71 for every dollar of expected revenue over the next 12 months.