EQNR vs PLUG vs E Stock Comparison

Equinor Asa, Plug Power and Eni Spa Prices as of Oct 23, 2026 Peers: Industry group
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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
8 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
E Eni Spa
$62.08 +13.2% 1M +71.5% 1Y
Market cap
$91.59B
P/E
17.6x
Revenue (TTM)
$98.30B
Div. yield
-0.04%
Integrated Oil and Gas Energy
3 wins

Head to Head

11 decided of 12

Equinor Asa leads on 8 of the 12 questions below (Equinor Asa 8, Eni Spa 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionEQNRPLUGELeader
Larger companyMarket capitalisation $124.80B $1.91B $91.59B EQNR
Cheaper on earningsLower P/E, profitable companies only 15.6x -1.2x 17.6x EQNR
Cheaper on forward earningsLower price / next fiscal year consensus EPS 9.1x — 9.3x EQNR
Faster revenue growthRevenue growth, trailing twelve months +5.8% +10.6% +11.2% E
More profitableNet margin, trailing twelve months 7.0% -220.6% 5.3% EQNR
Better return on capitalReturn on invested capital 47.7% -188.4% 6.9% EQNR
Less leveragedLower net debt / EBITDA 0.0x 0.1x 1.4x EQNR
Higher dividend yieldTrailing dividend yield 0.00% 0.00% -0.04% –
Better 1-year returnPrice return, last 12 months +95.5% -52.1% +71.5% EQNR
Better 5-year returnAnnualised price return, 5 years +12.1%/yr -46.9%/yr +17.1%/yr E
Less volatileAnnualised volatility, 1 year 39.0% 78.1% 27.4% E
Higher overall scoreMean of the five percentile scores vs peers 67/100 23/100 50/100 EQNR

Percentile Scorecard

EQNRPLUGE

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

AxisEQNRPLUGE
Valuation 81 #20 of 99 0 #11 of 11 75 #26 of 99
Growth 57 #42 of 97 70 #4 of 11 64 #36 of 97
Profitability 81 #19 of 96 0 #9 of 9 48 #50 of 96
Financial Health 56 #45 of 102 20 #9 of 11 35 #67 of 102
Shareholder Returns 59 #32 of 76 – 31 #53 of 76
Overall 67 23 50
  • EQNR ranked among 103 companies in Oil and Gas Upstream
  • PLUG ranked among 11 companies in Renewable Fuels
  • E ranked among 103 companies in Oil and Gas Upstream

Price Performance

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

Returns

PeriodEQNRPLUGESPY
1 month +13.7%-32.4%+13.2% -1.0%
3 months +21.0%-34.0%+18.4% +2.9%
6 months +28.7%-56.1%+14.7% +6.4%
Year to date +106.6%-29.9%+63.6% +11.4%
1 year +95.5%-52.1%+71.5% +13.1%
3 years +47.8%-78.1%+91.6% +79.4%
3 years, per year +13.9%-39.7%+24.2% +21.5%
5 years +76.8%-95.8%+119.8% +67.7%
5 years, per year +12.1%-46.9%+17.1% +10.9%
10 years +195.5%-14.8%+107.2% +255.2%
10 years, per year +11.4%-1.6%+7.6% +13.5%

Risk

MeasureEQNRPLUGESPY
Volatility, 1Y 39.0%78.1%27.4% 12.7%
Downside volatility, 1Y 38.6%70.2%26.4% 12.7%
Beta vs S&P 500, 1Y -1.092.25-0.36 1.00
Return / volatility, 1Y 2.45-0.672.61 1.03
Max drawdown, 5Y -47.8%-98.4%-37.1% -25.4%
From 52-week high 0.0%-66.7%0.0% -2.5%
52-week high $48.81$4.14$62.08 $779.14
52-week low $22.41$1.37$36.20 $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.

MultipleEQNRPLUGE
P/E now vs peer median 15.8xmedian 13.1x -1.2xmedian 10.9x 18.1xmedian 13.1x
P/S now vs peer median 1.1xmedian 2.0x 2.6xmedian 1.2x 1.0xmedian 2.0x
EV/EBITDA now vs peer median 2.8xmedian 5.7x -1.4xmedian 14.0x 7.8xmedian 5.7x
P/FCF now vs peer median 12.7xmedian 11.1x -3.4xmedian 14.1x 6.4xmedian 11.1x
P/B now vs peer median 2.8xmedian 1.5x 3.3xmedian 1.1x 1.5xmedian 1.5x
PEG now vs peer median —median 2.24 -0.21median 0.19 1.50median 2.24

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 monthsEQNRPLUGE
Revenue $114.42B $744.09M $98.30B
Gross profit – -$138.00M –
Operating income $32.53B -$1.29B $6.83B
Net income $9.05B -$1.71B $6.59B
Free cash flow $9.58B -$560.50M $15.30B
R&D $880.00M $53.94M –
EPS (diluted) $3.08 $-1.18 $3.36
Cash & equivalents $8.06B $161.90M $9.55B
Total debt $105.13B $65.78M $139.18B
Shares (diluted) 2.60B 1.39B 1.54B
Enterprise value $39.26B $986.42M $36.15B

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
MetricEQNRPLUGE
P/E 15.8x -1.2x 18.1x
P/FCF 12.7x -3.4x 6.4x
P/Operating cash flow 5.3x -4.0x 6.4x
P/S 1.1x 2.6x 1.0x
P/B 2.8x 3.3x 1.5x
P/Tangible book 2.8x 3.4x 1.5x
EV/EBITDA 2.8x -1.4x 7.8x
EV/EBIT 3.8x -1.4x 17.3x
EV/Revenue 1.1x 2.4x 1.2x
EV/FCF 12.8x -3.2x 7.7x
EV/Operating cash flow 5.3x -3.7x 7.7x
PEG (3Y EPS CAGR) – -0.21 1.50

Growth

14 metrics
MetricEQNRPLUGE
Revenue growth (1Y) 5.8% 10.6% 11.2%
Revenue CAGR (3Y) – -5.4% -6.8%
Gross profit growth (1Y) – 70.1% –
Gross profit CAGR (3Y) – 20.4% –
Operating income growth (1Y) 7.6% 31.3% 204.9%
Operating income CAGR (3Y) – -15.4% -14.3%
Net income growth (1Y) 10.0% 13.3% 135.7%
Net income CAGR (3Y) – -26.9% -11.6%
EPS growth (1Y) 24.1% 32.5% 6.3%
EPS CAGR (3Y) – 5.5% 12.0%
Operating cash flow growth (1Y) 15.5% 20.0% 12.1%
Operating cash flow CAGR (3Y) – 22.8% -5.9%
Free cash flow growth (1Y) 39.6% 31.6% 12.1%
Free cash flow CAGR (3Y) – 30.6% -18.6%

Profitability

14 metrics
MetricEQNRPLUGE
Gross margin – -18.5% –
EBITDA margin 38.9% -168.2% 15.4%
Operating margin 28.4% -172.8% 6.9%
Pretax margin 29.0% -229.0% 8.0%
Net margin 7.0% -220.6% 5.3%
FCF margin 8.4% -75.3% 15.6%
Operating cash flow margin 20.2% -64.9% 15.6%
Return on equity 20.9% -251.3% 10.4%
Return on assets 658.7% -75.0% 3.9%
Return on invested capital 47.7% -188.4% 6.9%
Return on capital employed – -72.0% 5.3%
Asset turnover 83.3x 0.3x 0.6x
Cash conversion (OCF / net income) 2.6x 0.3x 2.3x
Stock comp / revenue – 7.2% –

Financial Health

11 metrics
MetricEQNRPLUGE
Debt / assets 1,784% 0.0% 21.5%
Debt / equity 0.6x 0.0x 0.6x
Net debt / EBITDA 0.0x 0.1x 1.4x
Debt / FCF 2.5x 0.0x 2.4x
Liabilities / assets -3,046% 73.2% 61.3%
Equity / assets 3,146% 26.8% 38.7%
Interest coverage – -17.9x 1.5x
Current ratio 1.2x 2.3x 1.2x
Quick ratio 0.9x 0.8x 0.7x
Cash ratio 0.6x 0.3x 0.4x
Altman Z-score – -6.07 1.67

Shareholder Returns

7 metrics
MetricEQNRPLUGE
Dividend yield 3.1% – 3.9%
Net buyback yield – -2.5% -2.5%
Shareholder yield 3.1% -2.5% 1.4%
Payout ratio (earnings) – – 55.0%
Payout ratio (FCF) – – 23.7%
Dividend growth (1Y) – – -7.7%
Dividend CAGR (3Y) – – -4.9%

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.

ConsensusEQNRPLUGE
Forward P/E 9.1xFY2026 – 9.3xFY2026
EPS, next fiscal year $5.34FY2026 $-0.41FY2026 $6.67FY2026
EPS growth, next FY +116.2%FY2026 – +75.1%FY2026
EPS growth, the year after -17.6% – -4.5%
Revenue, next fiscal year $120.34BFY2026 $799.33MFY2026 $106.75BFY2026
Revenue growth, next FY +13.7%FY2026 +12.6%FY2026 +10.1%FY2026
Revenue growth, the year after -2.1% +28.0% -8.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersEQNRPLUGE
Held by institutions 6.6% 58.3% 1.6%
Institutions holding 409 508 343
Change in shares held, QoQ +1.8% +8.0% +2.3%
Institutions buying 230 276 196
Institutions selling 115 105 92
Buyers to sellers 2.00 2.63 2.13

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.

EQNRPLUGE
EQNR 1.00 -0.04 0.79
PLUG -0.04 1.00 0.05
E 0.79 0.05 1.00

Add a Peer

Largest companies in the same industry

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Frequently Asked Questions

Which is bigger, EQNR, PLUG and E?

Equinor Asa (EQNR) is the largest by market capitalisation: Equinor Asa (EQNR) $124.80B, Plug Power (PLUG) $1.91B, Eni Spa (E) $91.59B.

Which stock is cheaper, EQNR, PLUG and E?

Equinor Asa (EQNR) trades on the lowest price-to-earnings ratio (Equinor Asa (EQNR) 15.6x, Plug Power (PLUG) -1.2x, Eni Spa (E) 17.6x). On next year's consensus earnings, Equinor Asa (EQNR) is cheapest (Equinor Asa (EQNR) 9.1x, Eni Spa (E) 9.3x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Eni Spa (E) grew revenue fastest over the trailing twelve months: Equinor Asa (EQNR) +5.8%, Plug Power (PLUG) +10.6%, Eni Spa (E) +11.2%.

Which company is more profitable?

Equinor Asa (EQNR) has the highest net margin (Equinor Asa (EQNR) 7.0%, Plug Power (PLUG) -220.6%, Eni Spa (E) 5.3%). On return on invested capital, Equinor Asa (EQNR) leads (Equinor Asa (EQNR) 47.7%, Plug Power (PLUG) -188.4%, Eni Spa (E) 6.9%).

Which stock has performed better?

Over the past year Equinor Asa (EQNR) returned the most: Equinor Asa (EQNR) +95.5%, Plug Power (PLUG) -52.1%, Eni Spa (E) +71.5%. Over five years, Eni Spa (E) compounded fastest (Equinor Asa (EQNR) +12.1%/yr, Plug Power (PLUG) -46.9%/yr, Eni Spa (E) +17.1%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Eni Spa (E) has been the steadiest (Equinor Asa (EQNR) 39.0%, Plug Power (PLUG) 78.1%, Eni Spa (E) 27.4%). Volatility measures how widely the price swings, not the risk of the business.

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

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 8. 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.