Equinor Asa (EQNR) Cost of Revenue (2009 - 2025)
Equinor Asa's (EQNR) quarterly Cost of Revenue came in at $13.1 billion in Q4 2025, up 1.52% YoY from $12.9 billion in Q4 2024, and down 6.13% on a QoQ basis from $13.9 billion in Q3 2025.
Analysis
Equinor Asa (EQNR) Cost of Revenue (2009 - 2025) Analysis & Trends
Equinor Asa (EQNR) has 16 years of Cost of Revenue data on file, last reported at $13.1 billion in Q4 2025.
- Quarterly Cost of Revenue rose 1.52% year-over-year to $13.1 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $52.6 billion (down 1.4% YoY) and the FY2025 annual result came in at $55.2 billion, up 10.24% from the prior year.
- Cost of Revenue eased to $13.1 billion in Q4 2025, from $13.9 billion in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $13.9 billion in Q3 2025 to a low of $7.2 billion in Q1 2021.
- A 4-year average of $12.0 billion and a median of $13.1 billion in 2025 frame the typical range for Cost of Revenue.
- The widest YoY moves for Cost of Revenue: up 169.05% in 2021, down 3.11% in 2021.
- Tracing EQNR's Cost of Revenue over 4 years: stood at $7.4 billion in 2021, then soared by 87.2% to $13.9 billion in 2022, then dropped by 7.09% to $12.9 billion in 2024, then gained by 1.52% to $13.1 billion in 2025.
- The last three Cost of Revenue figures came in at $13.1 billion (Q4 2025), $13.9 billion (Q3 2025), and $12.7 billion (Q2 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Shell | 517.27 Bn | 477.40 Bn | - | - |
| 2 | Chevron | 398.83 Bn | 395.97 Bn | 33.45 Bn | 36.61 Bn |
| 3 | TotalEnergies SE | 190.54 Bn | 161.37 Bn | 23.46 Bn | 38.31 Bn |
| 4 | Eni Spa | 166.18 Bn | 156.34 Bn | - | - |
| 5 | Equinor Asa | 103.49 Bn | 94.23 Bn | - | - |
| 6 | Suncor Energy | 78.09 Bn | 74.21 Bn | -8.45 Bn | 1.09 Bn |
| 7 | Imperial Oil | 63.17 Bn | 61.11 Bn | - | - |
| 8 | Cenovus Energy | 59.48 Bn | 57.00 Bn | - | - |
| 9 | Gas Transporter Of The South | 21.19 Bn | -3,019.86 Bn | - | - |
| 10 | Ypf Sociedad Anonima | 19.74 Bn | 17.54 Bn | 2.97 Bn | 601.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 13.06 Bn |
| Dec 31, 2025 | 13.06 Bn |
| Sep 30, 2025 | 13.92 Bn |
| Sep 30, 2025 | 13.92 Bn |
| Jun 30, 2025 | 12.74 Bn |
| Jun 30, 2025 | 12.74 Bn |
| Dec 31, 2024 | 12.87 Bn |
| Dec 31, 2024 | 12.87 Bn |
| Sep 30, 2024 | 13.10 Bn |
| Sep 30, 2024 | 13.10 Bn |
| Jun 30, 2022 | 13.85 Bn |
| Jun 30, 2022 | 13.85 Bn |
| Mar 31, 2022 | 13.51 Bn |
| Mar 31, 2022 | 13.51 Bn |
| Jun 30, 2021 | 7.40 Bn |
| Jun 30, 2021 | 7.40 Bn |
| Mar 31, 2021 | 7.17 Bn |
| Mar 31, 2021 | 7.17 Bn |
| Dec 31, 2020 | 5.53 Bn |
| Dec 31, 2020 | 5.53 Bn |