Equinor ASA (EQNR) Financial Statements & Analysis

Equinor ASA (EQNR) Income Statement

Equinor ASA reported revenue of $105.83B in fiscal 2025 (fiscal year ended Dec 31, 2025), up 3.2% from $102.50B a year earlier. Net income was $5.04B, down 42.7% year over year, a net margin of 4.8%. Gross margin was 37.5% and operating margin 24.0%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $34.52B, up 37.4% from the same quarter a year earlier.

Equinor ASA Income Statement Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Equinor ASA income statement - Annual data in billions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Jan 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	105.83	102.50	106.85	106.85	149.00	88.74	45.75	62.91	78.77	60.97
Cost of Revenue	66.74	59.88	58.76	58.81	60.20	46.88	36.22	42.74	59.47	47.88
Gross Profit	39.73	42.63	48.42	48.04	88.81	41.87	9.53	20.18	19.30	13.09
Operating Expenses
Research & Development	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.32	0.31
Selling, General & Administrative	1.37	1.26	1.22	1.22	0.99	0.78	0.71	0.81	0.44	0.43
Operating Expenses	14.37	12.27	12.65	12.81	11.07	8.91	12.96	10.88	0.76	0.74
Operating Income	25.35	30.35	35.77	35.23	77.74	32.95	-3.42	9.30	18.54	12.36
Other Income/Expense
Interest Income	1.18	1.80	2.45	2.23	1.13	0.11	0.22	0.43	0.20	0.32
Interest Expense	-1.44	1.06	-0.93	1.12	0.93	0.77	0.98	0.99	0.58	0.49
Other Income/Expense	-0.26	-0.11	2.11	1.54	0.66	-0.71	-0.84	-0.01	0.34	1.06
Income
Income Before Tax	25.09	30.99	37.88	37.88	78.60	31.58	-4.26	9.29	18.87	13.42
Income Tax Expense	20.03	22.16	25.98	25.98	49.86	23.01	1.24	7.44	11.34	8.82
Net Income	5.04	8.81	11.89	11.89	28.75	8.56	-5.51	1.84	7.54	4.59
Net Income - Continuous Operations	5.06	8.83	-	11.90	28.74	8.58	-5.51	1.84	7.54	4.59
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-	-
EBITDA	35.31	41.95	45.49	49.59	86.27	44.07	11.96	23.49	29.48	23.84
EBIT	26.44	32.04	36.17	39.01	79.53	32.35	-	-	-	-
Depreciation & Amortization	9.99	9.91	8.24	10.58	6.73	11.72	15.24	13.20	10.31	10.11
Earnings Per Share
Basic EPS	2.00	3.00	4.00	4.00	9.00	3.00	-2.00	1.00	2.00	1.00
Diluted EPS	2.00	3.00	4.00	4.00	9.00	3.00	-2.00	1.00	2.00	1.00
Basic Shares Outstanding	2.59	2.82	3.02	3.02	3.17	3.24	3.27	3.33	3.33	3.27
Diluted Shares Outstanding	2.60	2.83	3.02	3.03	3.18	3.26	3.27	3.33	3.33	3.27

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Equinor ASA Financial Statements

What was Equinor ASA's revenue in fiscal 2025?

Equinor ASA reported revenue of $105.83B in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 3.2% from $102.50B a year earlier.

Is Equinor ASA profitable?

Yes. Equinor ASA earned net income of $5.04B in fiscal 2025, a net margin of 4.8%. In fiscal 2024 it earned $8.81B.

What is Equinor ASA's operating margin?

Equinor ASA's operating income was $25.35B on revenue of $105.83B in fiscal 2025, an operating margin of 24.0%, compared with 29.6% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition