Equinor Asa (EQNR) Operating Margin (2009 - 2026)
Equinor Asa's (EQNR) quarterly Operating Margin came in at 36.94% in Q2 2026, up 1095.0% on a YoY basis from 3.09% in Q2 2025, and up 5.26% quarter-over-quarter from 35.09% in Q1 2026.
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Equinor Asa (EQNR) Operating Margin (2009 - 2026) Analysis & Trends
Equinor Asa (EQNR) has reported Operating Margin for 18 consecutive years, with 36.94% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin rose 1095.0% year-over-year to 36.94%; the trailing twelve-month figure through Jun 2026 stood at 30.74% (up 203.0% YoY), and the FY2025 full-year result was 23.96%, down 622.0% from the prior year.
- Operating Margin advanced to 36.94% in Q2 2026 per EQNR's latest filing, from 35.09% in the prior quarter.
- Across five years, Operating Margin topped out at 51.02% in Q1 2022 and bottomed at 23.86% in Q3 2025.
- Historically, Operating Margin has averaged 32.64% across 5 years, with a median of 29.98% in 2024.
- The sharpest annual moves came in 2022 and 2025: Operating Margin surged 1865 bps in 2022, then tumbled 714 bps in 2025.
- Over 5 years, Operating Margin stood at 48.73% in 2022, then slumped by 40 bps to 29.46% in 2023, then gained by 7 bps to 31.59% in 2024, then slipped by 23 bps to 24.45% in 2025, then surged by 51 bps to 36.94% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 36.94%, 35.09%, and 24.45% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chevron | 413.73 Bn | 410.87 Bn | 33.45 Bn | -28.44% |
| 2 | Shell | 269.64 Bn | 229.78 Bn | 30.13 Bn | 28.64% |
| 3 | TotalEnergies SE | 200.34 Bn | 171.16 Bn | 23.46 Bn | -37.20% |
| 4 | Eni Spa | 171.91 Bn | 162.06 Bn | - | 98.44% |
| 5 | Equinor Asa | 110.26 Bn | 101.00 Bn | - | 36.94% |
| 6 | Phillips 66 | 108.93 Bn | 106.03 Bn | 8.38 Bn | -74.35% |
| 7 | Suncor Energy | 82.82 Bn | 77.45 Bn | 17.50 Bn | 91.95% |
| 8 | Imperial Oil | 62.85 Bn | 60.80 Bn | - | - |
| 9 | Cenovus Energy | 61.44 Bn | 59.48 Bn | 7.32 Bn | 12.39% |
| 10 | Occidental Petroleum | 58.81 Bn | 55.30 Bn | 7.73 Bn | 39.52% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 36.94% |
| Mar 31, 2026 | 35.09% |
| Dec 31, 2025 | 24.45% |
| Sep 30, 2025 | 23.86% |
| Jun 30, 2025 | 25.99% |
| Mar 31, 2025 | 29.66% |
| Dec 31, 2024 | 31.59% |
| Sep 30, 2024 | 27.17% |
| Jun 30, 2024 | 29.98% |
| Mar 31, 2024 | 30.36% |
| Dec 31, 2023 | 29.46% |
| Jun 30, 2022 | 48.73% |
| Mar 31, 2022 | 51.02% |
| Jun 30, 2021 | 30.48% |
| Mar 31, 2021 | 32.36% |
| Dec 31, 2020 | -8.33% |
| Jun 30, 2020 | -6.24% |
| Mar 31, 2020 | 0.38% |
| Dec 31, 2019 | 10.17% |
| Sep 30, 2019 | -3.19% |