EQNR vs OXY vs PLUG Stock Comparison

Equinor Asa, Occidental Petroleum and Plug Power Prices as of Oct 23, 2026 Peers: Industry group
EQNR Equinor Asa
$48.81 +13.7% 1M +95.5% 1Y
Market cap
$124.80B
P/E
15.6x
Revenue (TTM)
$114.42B
Div. yield
–
Integrated Oil and Gas Energy
6 wins
PLUG Plug Power Inc
$1.38 -32.4% 1M -52.1% 1Y
Market cap
$1.91B
P/E
–
Revenue (TTM)
$744.09M
Div. yield
–
Hydrogen Energy
1 win

Head to Head

11 decided of 12

Equinor Asa leads on 6 of the 12 questions below (Equinor Asa 6, Occidental Petroleum 4, Plug Power 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionEQNROXYPLUGLeader
Larger companyMarket capitalisation $124.80B $63.89B $1.91B EQNR
Cheaper on earningsLower P/E, profitable companies only 15.6x 9.7x -1.2x OXY
Cheaper on forward earningsLower price / next fiscal year consensus EPS 9.1x 9.3x — EQNR
Faster revenue growthRevenue growth, trailing twelve months +5.8% +7.3% +10.6% PLUG
More profitableNet margin, trailing twelve months 7.0% 30.3% -220.6% OXY
Better return on capitalReturn on invested capital 47.7% 6.6% -188.4% EQNR
Less leveragedLower net debt / EBITDA 0.0x 0.8x 0.1x EQNR
Higher dividend yieldTrailing dividend yield 0.00% 0.03% 0.00% –
Better 1-year returnPrice return, last 12 months +95.5% +49.6% -52.1% EQNR
Better 5-year returnAnnualised price return, 5 years +12.1%/yr +13.6%/yr -46.9%/yr OXY
Less volatileAnnualised volatility, 1 year 39.0% 34.5% 78.1% OXY
Higher overall scoreMean of the five percentile scores vs peers 67/100 62/100 23/100 EQNR

Percentile Scorecard

EQNROXYPLUG

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisEQNROXYPLUG
Valuation 81 #20 of 99 54 #46 of 99 0 #11 of 11
Growth 57 #42 of 97 72 #28 of 97 70 #4 of 11
Profitability 81 #19 of 96 68 #31 of 96 0 #9 of 9
Financial Health 56 #45 of 102 61 #40 of 102 20 #9 of 11
Shareholder Returns 59 #32 of 76 52 #37 of 76 –
Overall 67 62 23
  • EQNR ranked among 103 companies in Oil and Gas Upstream
  • OXY ranked among 103 companies in Oil and Gas Upstream
  • PLUG ranked among 11 companies in Renewable Fuels

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodEQNROXYPLUGSPY
1 month +13.7%+11.8%-32.4% -1.0%
3 months +21.0%+12.0%-34.0% +2.9%
6 months +28.7%+12.3%-56.1% +6.4%
Year to date +106.6%+56.0%-29.9% +11.4%
1 year +95.5%+49.6%-52.1% +13.1%
3 years +47.8%+2.6%-78.1% +79.4%
3 years, per year +13.9%+0.9%-39.7% +21.5%
5 years +76.8%+89.1%-95.8% +67.7%
5 years, per year +12.1%+13.6%-46.9% +10.9%
10 years +195.5%-14.0%-14.8% +255.2%
10 years, per year +11.4%-1.5%-1.6% +13.5%

Risk

MeasureEQNROXYPLUGSPY
Volatility, 1Y 39.0%34.5%78.1% 12.7%
Downside volatility, 1Y 38.6%32.6%70.2% 12.7%
Beta vs S&P 500, 1Y -1.09-0.802.25 1.00
Return / volatility, 1Y 2.451.44-0.67 1.03
Max drawdown, 5Y -47.8%-52.5%-98.4% -25.4%
From 52-week high 0.0%-3.2%-66.7% -2.5%
52-week high $48.81$66.24$4.14 $779.14
52-week low $22.41$38.92$1.37 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleEQNROXYPLUG
P/E now vs peer median 15.8xmedian 13.1x 9.7xmedian 13.1x -1.2xmedian 10.9x
P/S now vs peer median 1.1xmedian 2.0x 3.0xmedian 2.0x 2.6xmedian 1.2x
EV/EBITDA now vs peer median 2.8xmedian 5.7x 6.0xmedian 5.7x -1.4xmedian 14.0x
P/FCF now vs peer median 12.7xmedian 11.1x 11.8xmedian 11.1x -3.4xmedian 14.1x
P/B now vs peer median 2.8xmedian 1.5x 1.5xmedian 1.5x 3.3xmedian 1.1x
PEG now vs peer median —median 2.24 4.76median 2.24 -0.21median 0.19

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsEQNROXYPLUG
Revenue $114.42B $21.67B $744.09M
Gross profit – – -$138.00M
Operating income $32.53B – -$1.29B
Net income $9.05B $7.31B -$1.71B
Free cash flow $9.58B $5.45B -$560.50M
R&D $880.00M $258.00M $53.94M
EPS (diluted) $3.08 $6.50 $-1.18
Cash & equivalents $8.06B $4.15B $161.90M
Total debt $105.13B $13.74B $65.78M
Shares (diluted) 2.60B 1.01B 1.39B
Enterprise value $39.26B $51.81B $986.42M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricEQNROXYPLUG
P/E 15.8x 9.7x -1.2x
P/FCF 12.7x 11.8x -3.4x
P/Operating cash flow 5.3x 5.4x -4.0x
P/S 1.1x 3.0x 2.6x
P/B 2.8x 1.5x 3.3x
P/Tangible book 2.8x 1.5x 3.4x
EV/EBITDA 2.8x 6.0x -1.4x
EV/EBIT 3.8x 14.6x -1.4x
EV/Revenue 1.1x 3.4x 2.4x
EV/FCF 12.8x 13.5x -3.2x
EV/Operating cash flow 5.3x 6.2x -3.7x
PEG (3Y EPS CAGR) – 4.76 -0.21

Growth

14 metrics
MetricEQNROXYPLUG
Revenue growth (1Y) 5.8% 7.3% 10.6%
Revenue CAGR (3Y) – -11.8% -5.4%
Gross profit growth (1Y) – – 70.1%
Gross profit CAGR (3Y) – – 20.4%
Operating income growth (1Y) 7.6% – 31.3%
Operating income CAGR (3Y) – – -15.4%
Net income growth (1Y) 10.0% 200.5% 13.3%
Net income CAGR (3Y) – 2.5% -26.9%
EPS growth (1Y) 24.1% 281.4% 32.5%
EPS CAGR (3Y) – 2.0% 5.5%
Operating cash flow growth (1Y) 15.5% -2.0% 20.0%
Operating cash flow CAGR (3Y) – -5.7% 22.8%
Free cash flow growth (1Y) 39.6% 282.5% 31.6%
Free cash flow CAGR (3Y) – -9.2% 30.6%

Profitability

14 metrics
MetricEQNROXYPLUG
Gross margin – – -18.5%
EBITDA margin 38.9% 57.1% -168.2%
Operating margin 28.4% – -172.8%
Pretax margin 29.0% 24.7% -229.0%
Net margin 7.0% 30.3% -220.6%
FCF margin 8.4% 25.2% -75.3%
Operating cash flow margin 20.2% 54.9% -64.9%
Return on equity 20.9% 17.8% -251.3%
Return on assets 658.7% 9.1% -75.0%
Return on invested capital 47.7% 6.6% -188.4%
Return on capital employed – 7.0% -72.0%
Asset turnover 83.3x 0.3x 0.3x
Cash conversion (OCF / net income) 2.6x 1.6x 0.3x
Stock comp / revenue – – 7.2%

Financial Health

11 metrics
MetricEQNROXYPLUG
Debt / assets 1,784% 17.1% 0.0%
Debt / equity 0.6x 0.3x 0.0x
Net debt / EBITDA 0.0x 0.8x 0.1x
Debt / FCF 2.5x 2.5x 0.0x
Liabilities / assets -3,046% 47.3% 73.2%
Equity / assets 3,146% 52.7% 26.8%
Interest coverage – 4.9x -17.9x
Current ratio 1.2x 1.4x 2.3x
Quick ratio 0.9x 0.9x 0.8x
Cash ratio 0.6x 0.5x 0.3x
Altman Z-score – 2.01 -6.07

Shareholder Returns

7 metrics
MetricEQNROXYPLUG
Dividend yield 3.1% 1.6% –
Net buyback yield – -0.3% -2.5%
Shareholder yield 3.1% 1.3% -2.5%
Payout ratio (earnings) – 22.6% –
Payout ratio (FCF) – 30.4% –
Dividend growth (1Y) – 8.5% –
Dividend CAGR (3Y) – 7.5% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusEQNROXYPLUG
Forward P/E 9.1xFY2026 9.3xFY2026 –
EPS, next fiscal year $5.34FY2026 $6.92FY2026 $-0.41FY2026
EPS growth, next FY +116.2%FY2026 +213.1%FY2026 –
EPS growth, the year after -17.6% -28.8% –
Revenue, next fiscal year $120.34BFY2026 $28.30BFY2026 $799.33MFY2026
Revenue growth, next FY +13.7%FY2026 +13.4%FY2026 +12.6%FY2026
Revenue growth, the year after -2.1% -13.1% +28.0%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersEQNROXYPLUG
Held by institutions 6.6% 83.4% 58.3%
Institutions holding 409 1,238 508
Change in shares held, QoQ +1.8% +4.5% +8.0%
Institutions buying 230 641 276
Institutions selling 115 372 105
Buyers to sellers 2.00 1.72 2.63

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

EQNROXYPLUG
EQNR 1.00 0.75 -0.04
OXY 0.75 1.00 0.02
PLUG -0.04 0.02 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, EQNR, OXY and PLUG?

Equinor Asa (EQNR) is the largest by market capitalisation: Equinor Asa (EQNR) $124.80B, Occidental Petroleum (OXY) $63.89B, Plug Power (PLUG) $1.91B.

Which stock is cheaper, EQNR, OXY and PLUG?

Occidental Petroleum (OXY) trades on the lowest price-to-earnings ratio (Equinor Asa (EQNR) 15.6x, Occidental Petroleum (OXY) 9.7x, Plug Power (PLUG) -1.2x). On next year's consensus earnings, Equinor Asa (EQNR) is cheapest (Equinor Asa (EQNR) 9.1x, Occidental Petroleum (OXY) 9.3x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Plug Power (PLUG) grew revenue fastest over the trailing twelve months: Equinor Asa (EQNR) +5.8%, Occidental Petroleum (OXY) +7.3%, Plug Power (PLUG) +10.6%.

Which company is more profitable?

Occidental Petroleum (OXY) has the highest net margin (Equinor Asa (EQNR) 7.0%, Occidental Petroleum (OXY) 30.3%, Plug Power (PLUG) -220.6%). On return on invested capital, Equinor Asa (EQNR) leads (Equinor Asa (EQNR) 47.7%, Occidental Petroleum (OXY) 6.6%, Plug Power (PLUG) -188.4%).

Which stock has performed better?

Over the past year Equinor Asa (EQNR) returned the most: Equinor Asa (EQNR) +95.5%, Occidental Petroleum (OXY) +49.6%, Plug Power (PLUG) -52.1%. Over five years, Occidental Petroleum (OXY) compounded fastest (Equinor Asa (EQNR) +12.1%/yr, Occidental Petroleum (OXY) +13.6%/yr, Plug Power (PLUG) -46.9%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Equinor Asa (EQNR) 0.00%, Occidental Petroleum (OXY) 0.03%, Plug Power (PLUG) 0.00%. Equinor Asa (EQNR) and Plug Power (PLUG) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Occidental Petroleum (OXY) has been the steadiest (Equinor Asa (EQNR) 39.0%, Occidental Petroleum (OXY) 34.5%, Plug Power (PLUG) 78.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, EQNR, OXY and PLUG?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Equinor Asa (EQNR) leads on 6. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.