Equinor Asa (EQNR) Gross Margin (2009 - 2025)
Equinor Asa's (EQNR) quarterly Gross Margin came in at 48.46% in Q4 2025, down 501.0% YoY from 12.08% in Q4 2024, and up 4.04% on a QoQ basis from 46.57% in Q3 2025.
Equinor Asa (EQNR) Gross Margin (2009 - 2025) Analysis & Trends
Equinor Asa (EQNR) has 16 years of Gross Margin data on file, last reported at 48.46% in Q4 2025.
- Quarterly Gross Margin fell 501.0% year-over-year to 48.46% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 48.47% (down 2110.0% YoY) and the FY2025 annual result came in at 48.18%, down 360.0% from the prior year.
- Gross Margin advanced to 48.46% in Q4 2025, from 46.57% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 62.52% in Q1 2022 to a low of 46.57% in Q3 2025.
- A 4-year average of 53.75% and a median of 53.46% in 2024 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2021 — Gross Margin tumbled 621 bps — and 2022, when it soared 695 bps.
- Tracing EQNR's Gross Margin over 4 years: stood at 57.43% in 2021, then increased by 8 bps to 61.93% in 2022, then slipped by 14 bps to 53.46% in 2024, then fell by 9 bps to 48.46% in 2025.
- The last three Gross Margin figures came in at 48.46% (Q4 2025), 46.57% (Q3 2025), and 49.34% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Petrobras - Petroleo Brasileiro | 1,308.33 Bn | -5,263.99 Bn | 11.34 Bn | 48.18% |
| 2 | ExxonMobil Holdings | 651.52 Bn | 649.70 Bn | - | - |
| 3 | Chevron | 382.50 Bn | 382.83 Bn | 20.34 Bn | 41.85% |
| 4 | Eni Spa | 205.81 Bn | 195.97 Bn | - | - |
| 5 | Shell | 102.19 Bn | 62.32 Bn | 30.13 Bn | 31.83% |
| 6 | Equinor Asa | 98.30 Bn | 89.04 Bn | - | - |
| 7 | Suncor Energy | 78.77 Bn | 76.39 Bn | 6.68 Bn | 59.43% |
| 8 | Imperial Oil | 61.22 Bn | 60.47 Bn | - | - |
| 9 | TotalEnergies SE | 25.61 Bn | -6.11 Bn | 18.79 Bn | 32.91% |
| 10 | Ypf Sociedad Anonima | 20.09 Bn | 18.40 Bn | 1.76 Bn | 35.54% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 48.46% |
| Sep 30, 2025 | 46.57% |
| Jun 30, 2025 | 49.34% |
| Dec 31, 2024 | 53.46% |
| Sep 30, 2024 | 48.44% |
| Jun 30, 2022 | 61.93% |
| Mar 31, 2022 | 62.52% |
| Jun 30, 2021 | 57.43% |
| Mar 31, 2021 | 55.57% |
| Dec 31, 2020 | 53.41% |
| Jun 30, 2020 | 63.64% |
| Mar 31, 2020 | 50.91% |
| Dec 31, 2019 | 55.68% |
| Sep 30, 2019 | 47.86% |
| Jun 30, 2019 | 49.07% |
| Mar 31, 2019 | 59.44% |
| Dec 31, 2018 | 54.79% |
| Sep 30, 2018 | 50.04% |
| Jun 30, 2018 | 47.89% |
| Mar 31, 2018 | 50.48% |