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STOCK COMPARISON

Equinor ASA vs Exxon Mobil: Fair Value & Quality

Both stocks run through our valuation models. Here is how Equinor ASA (EQNR) and Exxon Mobil (XOM) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Equinor ASA as the less overvalued of the two: Equinor ASA trades at NOK 394 versus a fair value of NOK 338 (-14%), while Exxon Mobil trades at $162 versus $88.98 (-45%).
Equinor ASA
EQNR.OL · NOK · Energy
-14%
upside to fair value
overvalued
PriceNOK 394
Fair ValueNOK 338
Quality63/100
Exxon Mobil
XOM · USD · Energy
-45%
upside to fair value
overvalued
Price$162
Fair Value$88.98
Quality56/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Equinor ASAExxon Mobil
Valuation
15.6×P/E (TTM)24.6×
0.85×P/S (TTM)1.86×
2.18×P/B2.34×
3.0×EV/EBITDA11.3×
0.79×PEG1.20×
−14.1%Fair value upside−45.1%
3.7%Dividend yield2.5%
NOK 14.67Dividend per share$4.04
Profitability
31%Operating margin6%
12%Return on equity10%
12%Return on assets4%
Growth
-5%Revenue growth (YoY)3%
-10.8%Avg. growth/yr (3Y)-6.7%
18.3%Avg. growth/yr (5Y)12.6%
+8.5%Value creation/yr+11.4%
Balance & size
1,408.4×Interest coverage (EBIT/interest)56.3×
0.59×Debt / equity0.13×
$88BMarket cap$606B
weakGrowth qualityweak

Equinor ASA leads: 11 to 3 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Equinor ASAof which business quality 59 · market factors 82 Exxon Mobilof which business quality 57 · market factors 76
ProfitabilityMargins and returns on capital today
49
43
Quality GrowthAre margins and returns improving?
25
33
CashflowEarnings quality: real cash, not paper profit
51
51
Fin. StrengthBalance sheet, leverage, solvency risk
63
77
InvestmentDisciplined investing over empire-building
79
60
Low VolatilityCalm price path (market factor)
74
88
MomentumPrice trend over the last 3–12 months (market factor)
81
62
52W MomentumDistance to the 52-week high (market factor)
94
85
Net IssuanceBuybacks instead of dilution
100
77

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyEquinor ASAPrice NOK 394Exxon MobilPrice $162
DCF Models-90%below the priceNOK 39.20-49%below the price$83.38
Earnings-Based-93%below the priceNOK 25.78-53%below the price$76.97
Dividend Discount-91%below the priceNOK 36.73n/a
Multiples-90%below the priceNOK 40.80-44%below the price$90.93
Asset-Based-97%below the priceNOK 11.39-74%below the price$41.93
Growth DCF-90%below the priceNOK 41.28-47%below the price$86.16
Economic Profit-89%below the priceNOK 41.42-61%below the price$62.60
Growth Earnings-93%below the priceNOK 26.48-52%below the price$77.86
Minimum-97%below the priceNOK 11.39-74%below the price$41.93
Maximum-89%below the priceNOK 41.42-44%below the price$90.93
Median-90%below the priceNOK 37.96-52%below the price$77.86
Geometric mean-92%below the priceNOK 30.66-55%below the price$72.25

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Equinor ASA: 26 of 26 models see the stock below the current price.

Exxon Mobil: 22 of 22 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Equinor ASA
Bear NOK 212Fair Value NOK 338Bull NOK 423
NOK 394 = current price (white tick)
Exxon Mobil
Bear $59.15Fair Value $88.98Bull $117
$162 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Equinor ASA · Energy

Quality score63 · Top 25%
Fair value upside-14% · above median

Exxon Mobil · Energy

Quality score56 · above median
Fair value upside-45% · below median

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Equinor ASA as the less overvalued of the two: Equinor ASA trades at NOK 394 versus a fair value of NOK 338 (-14%), while Exxon Mobil trades at $162 versus $88.98 (-45%).

Equinor ASA has the higher quality score (63/100).

See the full analysis →
Equinor ASA · Exxon Mobil

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.