Equinor revenue and financials
Secondary listing. The primary listing is Equinor · Oslo Børs (NOK)
$43.01Change from previous close: +1.56%Absolute change: +$0.66
In the fiscal year ended December 2025, Equinor reported revenue of $106.46B (+2.59% year over year). Net income was $5.04B, a net margin of 4.7%.
Fiscal year ending in December. Sources and method on the page Methodology and sources.
At a glance
- Revenue growth
- +2.59%
- 2025 vs 2024
- Net income growth
- −42.73%
- 2025 vs 2024
- Net margin
- 4.7%
- 2024: 8.5%
Financial data
Amounts in millions of USD; per-share values in USD; shares in millions.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 19,971 | 19,465 | 29,257 | 35,136 | 28,816 | 10,386 | 13,749 | 19,694 | 14,802 | 8,818 |
| Depreciation and amortization | 9,838 | 9,684 | 9,373 | 8,878 | 10,432 | 9,515 | — | — | — | — |
| Capital expenditure | -13,994 | -12,177 | -10,575 | -8,758 | -8,040 | -8,476 | -10,204 | -11,367 | -10,755 | -12,191 |
| Investing cash flow | -9,596 | -3,532 | -12,409 | -15,863 | -16,211 | — | — | — | — | — |
| Financing cash flow | -11,526 | -17,741 | -18,142 | -15,414 | -4,836 | — | — | — | — | — |
| Dividends paid | -4,791 | -8,578 | -10,906 | -5,380 | -1,797 | -2,330 | -3,342 | -2,672 | -1,491 | -1,876 |
| Share repurchases | -5,916 | -6,013 | -5,589 | -3,315 | -321 | -1,059 | 442 | 0.0 | 0.0 | — |
| Debt issued | 5,915 | 933 | 0.0 | 0.0 | 1,195 | — | — | — | — | — |
| Debt repaid | -6,734 | -4,083 | -4,240 | -6,718 | -3,913 | — | — | — | — | — |
| Effect of exchange rates | 284 | -359 | -87.0 | -2,268 | -538 | — | — | — | — | — |
| Net change in cash | -867 | -2,167 | -1,294 | 1,592 | 7,230 | — | — | — | — | — |
| Free cash flow | 5,977 | 7,288 | 18,682 | 26,378 | 20,776 | — | — | — | — | — |
| Levered free cash flow | 22,498 | 6,810 | — | 46,149 | 28,629 | — | — | — | — | — |