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EQNR

Equinor ASA

Energy · $99.7B market cap

Verdict

Share price

$42.56

close of Oct 3, 2026

Fair value

$19.79

Sticker Price

Payback Price

$7.92

buy price

Overpriced

EQNR is Overpriced: at $42.56 it trades 115% above its fair value of $19.79. Its buy price (Payback Price) is $7.92, 81% below today's price. Business quality is limited: none of the 5 key numbers clears the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

0 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth1.3% a year✗
Equity per share growth2.1% a year✗
Sales growth0.1% a year✗
Free cash flow growth6.4% a year✗
Return on invested capital7.8%✗

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Superinvestors

2 of the investors we track hold EQNR. In Q1 2026, 1 trimmed. Who we track

Christopher Bloomstran

Semper Augustus · as of Q2 2026

$5.1M

161,175 shares

Richard Pzena

Pzena Investment Management · as of Q2 2026

$1.2M

38,188 shares

Moves in Q1 2026

Trimmed: Christopher Bloomstran

About Equinor ASA

Equinor ASA operates as an energy company in Norway and internationally. It operates through Exploration & Production Norway; Exploration & Production International; Exploration & Production USA; Marketing, Midstream & Processing; and Renewables segments. The company engages in the discovery and appraisal of new resources, as well as commercial development and operation of the oil and gas portfolios; oil and gas…

Oil & Gas Integrated

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works