Equinor ASA (EQNR) P/E Ratio History
Historical price-to-earnings valuation from 2002 to 2025
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EQNR Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 6, 2026, Equinor ASA (EQNR) trades at a price-to-earnings ratio of 21.2x, with a stock price of $41.36 and trailing twelve-month earnings per share of $2.00.
The current P/E is 104% above its 5-year average of 10.4x. Over the past five years, EQNR's P/E has ranged from a low of 3.1x to a high of 36.3x, placing the current valuation at the 90th percentile of its historical range.
Compared to the Energy sector median P/E of 17.1x, EQNR trades at a 24% premium to its sector peers. The sector includes 172 companies with P/E ratios ranging from 3.2x to 149.1x.
Relative to the broader market, EQNR trades roughly in line with the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our EQNR DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
EQNR P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $121B | 2279.4 | - | -85% | |
| $254B | 14.9 | - | +19%Best | |
| $208B | 16.2 | - | -14% | |
| $83B | 32.1 | - | -9% | |
| $29B | 12.9 | 0.34Best | -39% | |
| $656B | 23.1 | - | -15% | |
| $384B | 29.1 | - | -32% | |
| $150B | 19.4 | - | -19% | |
| $59B | 36.9 | - | -34% | |
| $32B | 12.1Lowest | - | -8% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
EQNR Historical P/E Data (2002–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Wed Dec 31 2025 00:00:00 GM | $23.63 | $1.87 | 12.6x | -31% |
| FY2025 Q3 | Mon Sep 29 2025 00:00:00 GM | $24.76 | $2.08 | 11.9x | -35% |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $25.14 | $2.98 | 8.4x | -54% |
| FY2025 Q1 | Mon Mar 31 2025 00:00:00 GM | $26.45 | $3.13 | 8.5x | -54% |
| FY2024 Q4 | $23.69 | $3.11 | 7.6x | -58% | |
| FY2024 Q3 | Mon Sep 30 2024 00:00:00 GM | $25.33 | $3.26 | 7.8x | -57% |
| FY2024 Q2 | Sun Jun 30 2024 00:00:00 GM | $28.56 | $3.28 | 8.7x | -52% |
| FY2024 Q1 | Sun Mar 31 2024 00:00:00 GM | $27.03 | $3.23 | 8.4x | -54% |
| FY2023 Q4 | Sun Dec 31 2023 00:00:00 GM | $31.64 | $3.91 | 8.1x | -56% |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $32.79 | $5.54 | 5.9x | -67% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $29.21 | $7.67 | 3.8x | -79% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $28.43 | $9.18 | 3.1x | -83% |
Average P/E for displayed period: 18.2x
Full EQNR Stock Analysis
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Start ComparisonEQNR — Frequently Asked Questions
Quick answers to the most common questions about buying EQNR stock.
Is EQNR stock overvalued or undervalued?
EQNR trades at 21.2x P/E, above its 5-year average of 10.4x. The 90th percentile ranking indicates a premium to historical valuation.
How does EQNR's valuation compare to peers?
Equinor ASA P/E of 21.2x compares to sector median of 17.1x. The premium reflects expected growth above peers.
What is EQNR's PEG ratio?
EQNR PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2002-2025.