Equinor ASA (0M2Z) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Equinor ASA NOK 95.77, price NOK 403, upside -76.2%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Equinor ASA operates as an energy company in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; and Renewables segments.
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Equinor ASA operates as an energy company in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; and Renewables segments. The company engages in the discovery and appraisal of new resources, as well as commercial development and operation of the oil and gas portfolios; oil and gas field development, well deliveries, and sourcing; research, technology development, specialist advisory services, digitalization, IT, improvement, innovation, and ventures and future business; and developing, exploring, investing in, and operating areas within renewable energy, such as offshore wind, green hydrogen, storage solutions, and solar power. It is also involved in the marketing, trading, processing, and transportation of crude oil and condensate, natural gas, NGL and refined products, including refineries, terminals, and processing plant operation; power and emissions trading; development of transportation solutions for natural gas, liquids, and crude oil, including pipelines, shipping, trucking, and rail; and provision of low carbon solutions. The company was formerly known as Statoil ASA and changed its name to Equinor ASA in May 2018. Equinor ASA was incorporated in 1972 and is headquartered in Stavanger, Norway.
Stock analysis
Equinor ASA (0M2Z) currently trades at kr 402.55, while our model-based Fair Value estimate is kr 95.77, 76.2% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 218.60 per share, and 0 of the 11 models we run sit above the kr 402.55 price.
Bear case: the Asset-Based group reads lowest at kr 10.73, and 11 of the 11 models stay below the price. Evidence for this calculation is medium.
Scenario range: kr 86.29 (bear) to kr 103.92 (bull), the price of kr 402.55 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Energy sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Equinor ASA reported revenue of 45.8B NOK in FY2020 versus 45.7B NOK in FY2016, a compound +0.0%/yr. Reported net income was −5.5B NOK in FY2020.
Key figures
Market cap 852B NOK (≈ $88.6B) · P/S ratio 7.49 · Dividend yield 0.4% · Net margin −12.0% · Return on equity 21.3% · Return on assets (EBIT) 7.1% · Operating margin 36.1% · Revenue (TTM) 114B NOK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 80% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −5% fair-value upside, at −76%, 0M2Z screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (kr 8.55 to kr 218.60). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear kr 86.29Fair Value kr 95.77Bull kr 103.92
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.34/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−27.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.1%
’16
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’18
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
0.2% (2016) → −7.5% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Equinor ASA Fair Value". https://www.fairvalue-calculator.com/stock/0M2Z
Frequently asked questions
Is Equinor ASA (0M2Z) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of kr 95.77 versus a price of kr 402.55, about −76% upside (overvalued).
What is the fair value of 0M2Z?
Our model-based fair value for Equinor ASA is kr 95.77 (as of Sep 29, 2026), built from audited fundamentals. The current price: kr 402.55.
What is the quality score of 0M2Z?
Equinor ASA has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Equinor ASA (0M2Z)?
Our model-based price target is the fair value of kr 95.77 (as of Sep 29, 2026) from 11 valuation models. Cautious scenario kr 86.29, optimistic scenario kr 103.92. It is a calculation from audited fundamentals, not an analyst target.
What is the Equinor ASA stock forecast for 2026?
Our models put fair value at kr 95.77, about −76% upside versus a price of kr 402.55 (overvalued). Cautious scenario kr 86.29, optimistic scenario kr 103.92. The calculation is refreshed regularly with new filings.
What is the revenue of Equinor ASA (0M2Z)?
Equinor ASA reported trailing-twelve-month revenue of about 114B NOK (latest available figure, as of Sep 29, 2026).
Does Equinor ASA pay a dividend?
Equinor ASA currently shows a dividend yield of about 0.38% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of Equinor ASA (0M2Z)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Equinor ASA it is kr 95.77 per share (as of Sep 29, 2026), against a price of kr 402.55. It is the blended result of 11 valuation models (cash flow, earnings, asset, dividend).
Is Equinor ASA stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 0M2Z trades above its calculated fair value: price kr 402.55, fair value kr 95.77, a gap of about −76% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0M2Z?
No. The price is what the market pays today (kr 402.55); the fair value is what the company's own numbers justify (kr 95.77). For Equinor ASA the two are kr 306.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is Equinor ASA worth?
The market values Equinor ASA at about 852B NOK (market capitalisation, as of Sep 29, 2026). Per share that is kr 402.55; our models calculate a fair value of kr 95.77 per share.
What do the bullish and bearish scenarios say about 0M2Z?
Our models span a range for Equinor ASA: cautious scenario kr 86.29, base kr 95.77, optimistic kr 103.92 per share (as of Sep 29, 2026, price kr 402.55). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0M2Z from its 52-week high?
Equinor ASA trades at kr 402.55, about 5% below its 52-week high of kr 423.75 and 80% above the low of kr 224.11 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 95.77 is for.
Which stocks are comparable to Equinor ASA?
From the same area (Energy) we also value Saudi Arabian Oil Company, Exxon Mobil Corporation, Chevron Corporation, PetroChina Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Equinor ASA stock attractive at the current price?
The data as of Sep 29, 2026: price kr 402.55, calculated fair value kr 95.77 (−76%), Quality Score 57/100, from 11 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0M2Z calculated?
We run Equinor ASA through 11 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 95.77, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Equinor ASA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Equinor ASA (0M2Z)?
The closing price on Oct 2, 2026 was kr 402.55. Our model-based fair value is kr 95.77, about −76% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Equinor ASA right now?
The price sits above even our optimistic bull case (kr 103.92). The favourable scenario is already priced in. Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Equinor ASA
How large is the market capitalisation of Equinor ASA (0M2Z)?
The market capitalisation of Equinor ASA is 852B NOK (≈ $88.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Equinor ASA (0M2Z)?
The price-to-sales ratio of Equinor ASA is 7.49 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Equinor ASA (0M2Z)?
The dividend yield of Equinor ASA is 0.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Equinor ASA (0M2Z)?
The net margin of Equinor ASA is −12.0% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Equinor ASA (0M2Z)?
The return on equity (ROE) of Equinor ASA is 21.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Equinor ASA (0M2Z)?
On an EBIT basis the return on assets of Equinor ASA is 7.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Equinor ASA (0M2Z)?
The operating margin of Equinor ASA is 36.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Equinor ASA (0M2Z)?
Revenue at Equinor ASA is growing +37.4% versus a year earlier (3y avg −9.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Equinor ASA (0M2Z)?
Earnings per share at Equinor ASA are growing +298% versus a year earlier. How much earnings per share grew versus a year earlier.
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