Equinor Asa (EQNR) Return on Invested Capital [ROIC] (2009 - 2026)
Equinor Asa (EQNR) recorded Return on Invested Capital [ROIC] of 57.33% in Q3 2026, up 29.28 percentage points from 28.06% a year earlier and up 9.59 percentage points from the prior quarter.
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Analysis
Equinor Asa (EQNR) Return on Invested Capital [ROIC] (2009 - 2026) Analysis & Trends
For FY2025, Equinor Asa reported Return on Invested Capital [ROIC] of 7.45%, down 4.65 percentage points from FY2024.
- Annual Return on Invested Capital [ROIC] has declined for three straight years, though with a five-year change of +12.58 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Invested Capital [ROIC] came in at 12.10% in FY2024 (-2.02 pp), 14.12% in FY2023 (-23.26 pp), 37.38% in FY2022 (+24.26 pp) and 13.13% in FY2021 (+18.25 pp).
- The Q3 2026 figure is the highest quarterly Return on Invested Capital [ROIC] since Q4 2011.
- Per Business Quant, the preceding three quarters came in at 47.74% (Q2 2026), 26.74% (Q1 2026) and 26.05% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | ExxonMobil Holdings | 686.62 Bn | 644.76 Bn | - | 13.86% |
| 2 | Chevron | 416.14 Bn | 383.18 Bn | 31.26 Bn | 12.13% |
| 3 | Shell | 291.71 Bn | 151.98 Bn | - | - |
| 4 | TotalEnergies SE | 192.78 Bn | 63.86 Bn | 31,614.00 | 21.61% |
| 5 | Eni Spa | 167.56 Bn | 107.19 Bn | - | 9.03% |
| 6 | Conocophillips | 165.53 Bn | 138.24 Bn | 12.81 Bn | 22.50% |
| 7 | Equinor Asa | 108.87 Bn | 21.72 Bn | 4.49 Bn | 57.33% |
| 8 | Canadian Natural Resources | 101.39 Bn | 95.29 Bn | 9.35 Bn | - |
| 9 | Phillips 66 | 97.45 Bn | 81.24 Bn | 10.69 Bn | 25.31% |
| 10 | Suncor Energy | 83.77 Bn | 64.46 Bn | - | 9.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 57.33% |
| Jun 30, 2026 | 47.74% |
| Mar 31, 2026 | 26.74% |
| Dec 31, 2025 | 26.05% |
| Sep 30, 2025 | 28.06% |
| Jun 30, 2025 | 30.64% |
| Mar 31, 2025 | 46.69% |
| Dec 31, 2023 | 36.28% |
| Jun 30, 2021 | 5.81% |
| Mar 31, 2021 | 1.18% |
| Dec 31, 2020 | 0.00% |
| Jun 30, 2020 | 0.95% |
| Mar 31, 2020 | 6.13% |
| Dec 31, 2019 | 8.44% |
| Sep 30, 2019 | 16.98% |
| Jun 30, 2019 | 26.05% |
| Mar 31, 2019 | 27.72% |
| Dec 31, 2018 | 29.48% |
| Sep 30, 2018 | 26.80% |
| Jun 30, 2018 | 19.44% |
API Access
Equinor Asa Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=EQNR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=EQNR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();