Equinor Asa (EQNR) Operating Margin (2009 - 2026)
Equinor Asa (EQNR) reported Operating Margin of 31.55% for Q1 2026, up 189.0% on a YoY basis from 10.92% in Q1 2025, and up 45.73% quarter-over-quarter from 21.65% in Q4 2025.
Equinor Asa (EQNR) Operating Margin (2009 - 2026) Analysis & Trends
Equinor Asa has reported Operating Margin for 18 years, with the latest figure at 31.55% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 189.0% year-over-year to 31.55%; the trailing twelve-month figure through Mar 2026 stood at 24.2% (down 544.0% YoY), and the FY2025 full-year result was 23.96%, down 585.0% from the prior year.
- Operating Margin for Q1 2026 stood at 31.55%, up from 21.65% in the prior quarter.
- The five-year high for Operating Margin was 51.02% in Q1 2022, with the low at 20.23% in Q3 2025.
- Historically, Operating Margin has averaged 31.23% across 5 years, with a median of 30.04% in 2023.
- Annual changes were most pronounced in 2022 — Operating Margin jumped 1865 bps — and 2025, when it sank 994 bps.
- Equinor Asa's Operating Margin stood at 48.73% in 2022, then slumped by 38 bps to 30.11% in 2023, then increased by 5 bps to 31.59% in 2024, then plunged by 31 bps to 21.65% in 2025, then surged by 46 bps to 31.55% in 2026.
- The last three Operating Margin figures came in at 31.55% (Q1 2026), 21.65% (Q4 2025), and 20.23% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Petrobras - Petroleo Brasileiro | 1,901.04 Bn | 1,894.28 Bn | 11.34 Bn | 33.28% |
| 2 | Exxon Mobil | 629.96 Bn | 628.14 Bn | - | - |
| 3 | TotalEnergies SE | 621.59 Bn | 621.59 Bn | 26,816.00 | 59.15% |
| 4 | Shell | 546.31 Bn | 505.07 Bn | - | - |
| 5 | Chevron | 370.90 Bn | 376.56 Bn | 20.34 Bn | 26.06% |
| 6 | Cenovus Energy | 354.37 Bn | 352.41 Bn | 6.46 Bn | 22.47% |
| 7 | Eni Spa | 252.26 Bn | 242.70 Bn | - | 3.57% |
| 8 | Bp | 196.12 Bn | 159.56 Bn | - | 16.24% |
| 9 | Suncor Energy | 57.67 Bn | 55.06 Bn | 7.44 Bn | 54.87% |
| 10 | Equinor Asa | 1.07 Mn | -7.09 Bn | - | 31.55% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 31.55% |
| Dec 31, 2025 | 21.65% |
| Sep 30, 2025 | 20.23% |
| Jun 30, 2025 | 22.77% |
| 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 | 30.11% |
| 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% |
| Jun 30, 2019 | 4.42% |