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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 106,462 | 103,774 | 107,174 | 150,806 | 90,924 | 45,818 | 64,357 | 79,593 | 61,187 | 45,873 |
| Cost of revenue | 55,164 | 50,040 | 48,175 | 53,806 | 35,160 | 20,986 | 29,532 | 38,516 | 28,212 | 21,505 |
| Gross profit | 39,093 | 41,931 | 48,039 | 85,590 | 46,907 | — | — | — | — | — |
| Selling, general and administrative | 1,365 | 1,427 | 1,218 | 986 | 780 | — | — | — | — | — |
| Research and development | 352 | 348 | 311 | 308 | 291 | 254 | 300 | 315 | 307 | 298 |
| Operating income | 25,352 | 30,927 | 35,770 | 78,811 | 33,663 | -3,423 | 9,299 | 20,137 | 13,771 | 80.0 |
| EBIT | 26,437 | 29,110 | 39,006 | 74,072 | 34,238 | — | — | — | — | — |
| EBITDA | 35,311 | 37,760 | 49,587 | 83,292 | 44,845 | — | — | — | — | — |
| Interest expense | 545 | 681 | 1,122 | 737 | 769 | — | — | — | — | — |
| Pre-tax income | 25,088 | 30,986 | 37,884 | 78,604 | 31,584 | — | — | — | — | — |
| Income tax | 20,030 | 22,157 | 25,980 | 49,861 | 23,007 | 1,237 | 7,441 | 11,335 | 8,822 | 2,724 |
| Net income | 5,043 | 8,806 | 11,885 | 28,746 | 8,563 | -5,510 | 1,843 | 7,535 | 4,590 | -2,922 |
| Net income to common shareholders | 5,043 | 8,806 | 11,885 | 28,746 | 8,563 | — | — | — | — | — |
| Basic EPS | 1.94 | 3.12 | 3.93 | 9.06 | 2.64 | -1.69 | 0.55 | 2.27 | 1.40 | -0.91 |
| Diluted EPS | 1.94 | 3.11 | 3.93 | 9.03 | 2.63 | -1.69 | 0.55 | 2.27 | 1.40 | -0.91 |
| Average shares (basic) | 2,593 | 2,821 | 3,021 | 3,173 | 3,244 | — | — | — | — | — |
| Average shares (diluted) | 2,601 | 2,827 | 3,027 | 3,183 | 3,256 | — | — | — | — | — |
| Dividend per share | 1.50 | 1.42 | — | 0.90 | 0.71 | — | — | — | — | — |