Equinor Asa (EQNR) Operating Expenses (2009 - 2026)
Equinor Asa's (EQNR) quarterly Operating Expenses came in at -$22.2 billion in Q2 2026, down 14.21% on a YoY basis from -$25.9 billion in Q2 2025, and down 16.4% quarter-over-quarter from -$19.1 billion in Q1 2026.
Analysis
Equinor Asa (EQNR) Operating Expenses (2009 - 2026) Analysis & Trends
Equinor Asa (EQNR) has reported Operating Expenses for 18 consecutive years, with -$22.2 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses fell 14.21% year-over-year to -$22.2 billion; the trailing twelve-month figure through Jun 2026 stood at -$81.9 billion (down 32.26% YoY), and the FY2025 full-year result was -$11.6 billion, down 9.88% from the prior year.
- Operating Expenses slipped to -$22.2 billion in Q2 2026 per EQNR's latest filing, from -$19.1 billion in the prior quarter.
- Across five years, Operating Expenses topped out at -$2.0 billion in Q1 2022 and bottomed at -$22.2 billion in Q2 2026.
- Historically, Operating Expenses has averaged -$15.7 billion across 5 years, with a median of -$19.1 billion in 2026.
- The sharpest annual moves came in 2025 and 2026: Operating Expenses slumped 725.22% in 2025, then grew 9.44% in 2026.
- Over 5 years, Operating Expenses stood at -$2.2 billion in 2022, then sank by 823.0% to -$20.3 billion in 2023, then increased by 6.83% to -$18.9 billion in 2024, then dropped by 4.97% to -$19.9 billion in 2025, then decreased by 11.71% to -$22.2 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered -$22.2 billion, -$19.1 billion, and -$19.9 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Chevron | 417.01 Bn | 408.48 Bn | 33.45 Bn | 53.37 Bn |
| 2 | Shell | 282.76 Bn | 241.90 Bn | 30.13 Bn | 3.02 Bn |
| 3 | TotalEnergies SE | 232.43 Bn | 200.71 Bn | 23.46 Bn | 46.44 Bn |
| 4 | Eni Spa | 167.27 Bn | 151.69 Bn | - | 22.08 Mn |
| 5 | Equinor Asa | 114.69 Bn | 105.36 Bn | - | -22.18 Bn |
| 6 | Phillips 66 | 106.05 Bn | 101.95 Bn | 8.38 Bn | 47.07 Bn |
| 7 | Suncor Energy | 83.98 Bn | 78.60 Bn | 17.50 Bn | 17.00 Mn |
| 8 | Imperial Oil | 63.06 Bn | 61.00 Bn | - | 9.54 Bn |
| 9 | Occidental Petroleum | 59.24 Bn | 55.09 Bn | 7.73 Bn | 4.55 Bn |
| 10 | Cenovus Energy | 58.88 Bn | 56.91 Bn | 7.32 Bn | 978.82 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -22.18 Bn |
| Mar 31, 2026 | -19.06 Bn |
| Dec 31, 2025 | -19.86 Bn |
| Sep 30, 2025 | -20.78 Bn |
| Jun 30, 2025 | -19.42 Bn |
| Mar 31, 2025 | -21.05 Bn |
| Dec 31, 2024 | -18.92 Bn |
| Sep 30, 2024 | -2.52 Bn |
| Jun 30, 2024 | -17.88 Bn |
| Mar 31, 2024 | -17.50 Bn |
| Dec 31, 2023 | -20.31 Bn |
| Jun 30, 2022 | -2.20 Bn |
| Mar 31, 2022 | -1.99 Bn |
| Jun 30, 2021 | -2.13 Bn |
| Mar 31, 2021 | -1.94 Bn |
| Dec 31, 2020 | -2.01 Bn |
| Jun 30, 2020 | -2.23 Bn |
| Mar 31, 2020 | -2.41 Bn |
| Dec 31, 2019 | -2.24 Bn |
| Sep 30, 2019 | -2.73 Bn |