Equinor Asa EQNR
NYSE EQNR
$44.10 -0.23 (-0.52%)
At close: Sep 18, 2026 · 4:00 PM EDT

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% on a YoY basis from $12.9 billion in Q4 2024, and down 6.13% quarter-over-quarter from $13.9 billion in Q3 2025.

Analysis

Equinor Asa (EQNR) Cost of Revenue (2009 - 2025) Analysis & Trends

Equinor Asa (EQNR) has reported Cost of Revenue for 16 consecutive years, with $13.1 billion the latest figure, recorded in Q4 2025.

  • For the quarter ending Q4 2025, Cost of Revenue rose 1.52% year-over-year to $13.1 billion; the trailing twelve-month figure through Dec 2025 stood at $55.2 billion (up 6.6% YoY), and the FY2025 full-year result was $55.2 billion, up 10.24% from the prior year.
  • Cost of Revenue retreated to $13.1 billion in Q4 2025 per EQNR's latest filing, from $13.9 billion in the prior quarter.
  • Across five years, Cost of Revenue topped out at $15.4 billion in Q1 2025 and bottomed at $7.2 billion in Q1 2021.
  • Historically, Cost of Revenue has averaged $12.3 billion across 4 years, with a median of $13.1 billion in 2025.
  • The widest YoY moves for Cost of Revenue: up 169.05% in 2021, down 3.11% in 2021.
  • Over 4 years, Cost of Revenue stood at $7.4 billion in 2021, then surged by 87.2% to $13.9 billion in 2022, then fell by 7.09% to $12.9 billion in 2024, then climbed by 1.52% to $13.1 billion in 2025.
  • According to Business Quant data, Cost of Revenue over the past three periods registered $13.1 billion, $13.9 billion, and $12.7 billion for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Chevron 413.73 Bn 410.87 Bn 33.45 Bn 36.61 Bn
2 Shell 269.64 Bn 229.78 Bn 30.13 Bn 64.53 Bn
3 TotalEnergies SE 200.34 Bn 171.16 Bn 23.46 Bn 38.31 Bn
4 Eni Spa 171.91 Bn 162.06 Bn - -
5 Equinor Asa 110.26 Bn 101.00 Bn - -
6 Phillips 66 108.93 Bn 106.03 Bn 8.38 Bn 43.66 Bn
7 Suncor Energy 82.82 Bn 77.45 Bn 17.50 Bn 1.51 Bn
8 Imperial Oil 62.85 Bn 60.80 Bn - -
9 Cenovus Energy 61.44 Bn 59.48 Bn 7.32 Bn 480.45 Mn
10 Occidental Petroleum 58.81 Bn 55.30 Bn 7.73 Bn 332.00 Mn
Historic Data

Historic Data

Download Data
DateValue
Dec 31, 2025 13.06 Bn
Sep 30, 2025 13.92 Bn
Jun 30, 2025 12.74 Bn
Mar 31, 2025 15.44 Bn
Dec 31, 2024 12.87 Bn
Sep 30, 2024 13.10 Bn
Mar 31, 2024 11.92 Bn
Jun 30, 2022 13.85 Bn
Mar 31, 2022 13.51 Bn
Jun 30, 2021 7.40 Bn
Mar 31, 2021 7.17 Bn
Dec 31, 2020 5.53 Bn
Jun 30, 2020 2.75 Bn
Mar 31, 2020 7.40 Bn
Dec 31, 2019 6.60 Bn
Sep 30, 2019 7.67 Bn
Jun 30, 2019 8.61 Bn
Mar 31, 2019 6.66 Bn
Dec 31, 2018 9.82 Bn
Sep 30, 2018 9.49 Bn