Equinor Asa (EQNR) Gross Margin (2009 - 2025)
Equinor Asa's Gross Margin was 48.46% in the quarter ended Dec 31, 2025, down 5.01 percentage points from 53.46% a year earlier but up 1.88 percentage points from the prior quarter.
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Analysis
Equinor Asa (EQNR) Gross Margin (2009 - 2025) Analysis & Trends
For the year ended Dec 31, 2025, Gross Margin at Equinor Asa came in at 47.87%, down 3.31 percentage points from the prior year.
- Gross Margin has now declined for three consecutive years, with a five-year change of -6.26 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, Gross Margin was 51.18% in the year ended Dec 31, 2024 (-3.73 pp), 54.91% in the year ended Dec 31, 2023 (-8.98 pp), 63.89% in the year ended Dec 31, 2022 (+3.51 pp) and 60.38% in the year ended Dec 31, 2021 (+6.25 pp).
- Quarterly Gross Margin has moved between 46.57% (the quarter ended Sep 30, 2025) and 62.52% (the quarter ended Mar 31, 2022) over five years.
- Per Business Quant data, EQNR's Gross Margin in the three quarters before the quarter ended Dec 31, 2025 was 46.57% (quarter ended Sep 30, 2025), 49.34% (quarter ended Jun 30, 2025) and 48.39% (quarter ended Mar 31, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | - |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 97.36% |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | 47.75% |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 100.00% |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | - |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 65.62% |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | 16.10% |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | - |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | 89.47% |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 48.46% |
| Sep 30, 2025 | 46.57% |
| Jun 30, 2025 | 49.34% |
| Mar 31, 2025 | 48.39% |
| Dec 31, 2024 | 53.46% |
| Sep 30, 2024 | 48.50% |
| Mar 31, 2024 | 52.57% |
| 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% |
API Access
Equinor Asa Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=EQNR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "EQNR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=EQNR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();