Equinor Asa (EQNR) Operating Margin (2009 - 2026)
Equinor Asa (EQNR) recorded Operating Margin of 36.94% in the quarter ended Jun 30, 2026, up 14.18 percentage points from 22.75% a year earlier and up 5.39 percentage points from the prior quarter.
Equinor Asa (EQNR) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Equinor Asa's Operating Margin came in at 28.44% as of Jun 30, 2026, up 0.47 percentage points year-over-year; for the year ended Dec 31, 2025, it was 23.96%, down 6.22 percentage points from the prior year.
- Annual Operating Margin has declined for three straight years, though with a five-year change of +31.44 percentage points (years ended Dec 2020 to Dec 2025).
- Across earlier years, Operating Margin came in at 30.17% in the year ended Dec 31, 2024 (-3.31 pp), 33.48% in the year ended Dec 31, 2023 (-19.41 pp), 52.89% in the year ended Dec 31, 2022 (+14.96 pp) and 37.93% in the year ended Dec 31, 2021 (+45.41 pp).
- The figure for the quarter ended Jun 30, 2026 is the highest quarterly Operating Margin since the quarter ended Jun 30, 2022.
- On a year-over-year basis, Operating Margin rose in three of the last seven quarters, with an average year-over-year change of -1.04 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 18.65 percentage points in the quarter ended Mar 31, 2022, against a drop of 9.94 percentage points in the quarter ended Dec 31, 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 31.55% (quarter ended Mar 31, 2026), 21.65% (quarter ended Dec 31, 2025) and 20.23% (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 694.97 Bn | 658.18 Bn | - | - |
| 2 | Shell | 570.13 Bn | 500.87 Bn | 92.16 Bn | 88.17% |
| 3 | Chevron | 418.82 Bn | 396.62 Bn | 33.45 Bn | -28.44% |
| 4 | TotalEnergies SE | 189.94 Bn | 73.07 Bn | 61.77 Bn | 24.82% |
| 5 | Eni Spa | 176.22 Bn | 126.56 Bn | - | 5.19% |
| 6 | Conocophillips | 161.10 Bn | 133.81 Bn | 12.81 Bn | 53.17% |
| 7 | Phillips 66 | 110.98 Bn | 99.96 Bn | 8.38 Bn | -74.35% |
| 8 | Equinor Asa | 107.54 Bn | 22.06 Bn | - | 36.94% |
| 9 | Canadian Natural Resources | 103.35 Bn | 100.30 Bn | 15.40 Bn | 88.80% |
| 10 | Suncor Energy | 86.21 Bn | 72.00 Bn | - | 3.43% |
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 | 27.14% |
| 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% |
Equinor Asa Operating 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=operating-margin&ticker=EQNR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=EQNR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();