Equinor ASA (EQNR)
Equinor produces oil and gas, trades and processes it, and builds renewable power. It reports in five segments: E&P Norway, E&P International, E&P USA, MMP, which is the marketing, midstream and processing business, and REN, which is renewables. Figures are stated in US dollars.
Equinor ASA files a 20-F with the SEC once a year, in US dollars. In the year to 31 December 2025 it reported revenue of USD 106,462 million, up 2.6% on the year before. Its profit attributable to shareholders was USD 5,043 million, down 42.7%, and diluted earnings per share USD 1.94.
Equinor ASA (EQNR) in brief
Equinor ASA (EQNR) reported revenue of USD 106 billion for the year to 31 December 2025, up 2.6% on the year before.
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Profit attributable to shareholders was USD 5.0 billion and diluted earnings per share USD 1.94. Revenue was USD 104 billion in 2024, USD 107 billion in 2023, USD 151 billion in 2022 and USD 90.9 billion in 2021. Profit attributable to shareholders in the same years was USD 8.8 billion, USD 11.9 billion, USD 28.7 billion and USD 8.6 billion. Revenue grew 18.4% a year, compounded, over the five years to 2025. At the close of 10 November 2026 the market cap of Equinor ASA was $101.7 billion, 21.0 times its earnings for 2025.The share in the US
| Last close | $40.67 on 10 November 2026 |
| 52-week range | $22.41 (16 December 2025) to $48.81 (23 October 2026) |
| Over one year | up 68.0% |
| Market cap | $101.7 billion: 2,500,271,030 shares outstanding at 31 December 2025 (20-F), each US share standing for one ordinary share |
| P/E, latest fiscal year | 21.0: the last close over diluted EPS for the year to Dec 2025, USD 1.94 per ordinary share. The company reports once a year, so this is the latest fiscal year, not the last four quarters. |
US dollars per share as it trades in the US; the market cap and the P/E are worked out here, not filed. Prices from IEX, for splits.
Ratios
From the latest annual report, the year to Dec 2025, in dollars
ROE12.5%
ROCE37.2%
Operating margin23.8%
Net margin4.7%
FCF margin5.6%
Interest covern/a
Debt to equity0.69
Cash conversion3.96
Share count, last 12 months-8.1%
Sales CAGR, 3 years-11.0%
Profit CAGR, 3 years-44.0%
EPS$1.94
At the close of 10 November 2026
Price$40.67
Market cap$101.7 billion
Stock P/E20.96
Price to book2.52
EV / EBITDAn/a
Dividend yield0.3%
Market cap / sales0.96
52-week high$48.81
52-week low$22.41
Price, 1 year68.0%
Price CAGR, 3 yearsn/a
Price CAGR, 5 yearsn/a
Worked from the filed figures; hover a name for the formula.
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The priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Equinor ASA's balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.EQNRgreeksoup.ai
Daily prices to 10 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
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Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. This company reports once a year, so every view here moves once a year, on the day each annual report was filed, and holds until the next. P/E is the close over the year's EPS per US share: the EPS as filed. Sales and margin are each year's revenue and its operating margin. EV/EBITDA, price to book and market cap to sales set the close against that year's balance sheet and its share count per US share. The dashed line is the median over the range shown. Drawn in your browser; the range and overlay you pick are remembered here only.The public record on EQNR
| Dividends | $1.48 a share in FY2025 |
| Filings | 105 in twelve months: 103 reports on Form 6-K, most often equinor ASA: Share buy-back - third tranche for 2026 (14); equinor ASA: Buy-back of shares to share programmes for employees (13); equinor ASA: Share buy-back - fourth tranche for 2025 (13); equinor ASA: Share buy-back - second tranche for 2026 (9); equinor ASA: Notifiable trading (9) |
| Planned insider sales | no Form 144 notice in twelve months |
| Options tape | put/call 0.8 by open interest at the 10 November 2026 close; the straddle prices a 6.2% move to 20 November 2026 |
| 13F holders | 417 funds reported a position for the quarter to 30 June 2026; largest Folketrygdfondet |
| Congress | 0 House trades disclosed in six months |
| Short interest | 17.6 million shares short, 3.96 days to cover at 30 October 2026 |
Income statement (profit and loss), 11 fiscal years
Play it forward: change any box and its column follows; every box opens at the company's own record, shown under the row's name, and says when you set it outside every year in the table.
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Each column runs from the latest year filed to the year chosen in its heading, at a yearly rate. Sales growth starts at the company's own five-year rate and eases a third of the way each year toward the median of the 83 peers in Petroleum and Natural Gas (16.0% a year), because a rate far from the rest rarely lasts. Before you open a year, the strip reads today's price backwards: the yearly sales growth that brings EPS, at the company's own margins, tax and share count, to today's price at the median P/E of the 63 peers in Petroleum and Natural Gas (11.3). Low, middle, high opens three columns for one year: the low and high cases take the company's own weaker and stronger years in the table (the lower and upper quarter of its yearly sales growth and operating margin) and the lower and higher of today's P/E and its peers'; the middle is the boxes as they open. Net income keeps the share that went to minority holders; EPS is net income over the diluted shares, on the same basis as the EPS in the table. The price is that year's EPS at the P/E you set, and the yearly return runs from today's price to the year's end. These are your assumptions and your arithmetic, not an estimate of ours. The link carries your columns, so you can send the forecast to someone.| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 † | Dec 2019 † | Dec 2020 † | Dec 2021 † | Dec 2022 † | Dec 2023 † | Dec 2024 † | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 59,642 | 45,873 | 61,187 | 79,593 | 64,357 | 45,818 | 90,924 | 150,806 | 107,174 | 103,774 | 106,462 |
| Cost of sales | 26,254 | 21,505 | 28,212 | 38,516 | 29,532 | 20,986 | 35,160 | 53,806 | 48,175 | 50,040 | 55,164 |
| Research and development | 344 | 298 | 307 | 315 | 300 | 254 | 291 | 308 | 311 | 348 | 352 |
| Selling, general and administrative | 921 | 762 | 738 | 758 | 809 | 706 | 780 | 986 | 1,218 | 1,255 | 1,207 |
| Operating profit | 1,366 | 80.0 | 13,771 | 20,137 | 9,299 | -3,423 | 33,663 | 78,811 | 35,770 | 30,927 | 25,352 |
| Profit before tax | 55.0 | -178 | 13,420 | 18,874 | 9,292 | -4,259 | 31,583 | 78,604 | 37,884 | 30,986 | 25,088 |
| Income tax | 5,225 | 2,724 | 8,822 | 11,335 | 7,441 | 1,237 | 23,007 | 49,861 | 25,980 | 22,157 | 20,030 |
| Profit for the year | -5,169 | -2,902 | 4,598 | 7,538 | 1,851 | -5,496 | 8,576 | 28,744 | 11,904 | 8,829 | 5,058 |
| Profit attributable to shareholders | -5,192 | -2,922 | 4,590 | 7,535 | 1,843 | -5,510 | 8,563 | 28,746 | 11,885 | 8,806 | 5,043 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
USD million, from each year's annual report on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed.
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A line the company does not file under the standard tag is left out rather than estimated. A year marked † shows the figure as the company restated it in a later annual report (Dec 2016, Dec 2017, Dec 2018, Dec 2019, Dec 2020, Dec 2021, Dec 2022, Dec 2023, Dec 2024); the first-filed figure is in the CSV. Profit for the year includes the part that belongs to minority shareholders; profit attributable to shareholders is the part EPS is struck on. Each year links to its own page.| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 † | Dec 2019 † | Dec 2020 † | Dec 2021 † | Dec 2022 † | Dec 2023 † | Dec 2024 † | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Diluted EPS | -1.63 | -0.91 | 1.40 | 2.27 | 0.55 | -1.69 | 2.63 | 9.03 | 3.93 | 3.11 | 1.94 |
| Basic EPS | -1.63 | -0.91 | 1.40 | 2.27 | 0.55 | -1.69 | 2.64 | 9.06 | 3.93 | 3.12 | 1.94 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
USD per ordinary share, as filed. One US-listed share can stand for more or fewer ordinary shares; the P/E above puts the two on the same basis.
Revenue by segment
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2023 | Dec 2025 | Share of the parts, latest year | |
|---|---|---|---|---|---|---|---|---|---|
| MMP | n/a | 44,979 | 59,071 | 75,794 | 60,955 | 44,945 | 105,908 | 104,769 | 99.9% |
| Other | 354 | 39.0 | 87.0 | 280 | 624 | 241 | 253 | 132 | 0.1% |
| Exploration & Production (E&P) International | 8,200 | 6,657 | 9,256 | 12,399 | 10,325 | n/a | n/a | n/a | n/a |
| Exploration & Production Norway (E&P) | 17,339 | 13,077 | 17,692 | 22,475 | 18,832 | n/a | n/a | n/a | n/a |
| Marketing, Midstream and Processing (MMP) | 58,106 | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
| Eliminations | -24,357 | -18,880 | -24,919 | -31,355 | -26,379 | n/a | n/a | n/a | n/a |
MMP FY2016 to FY2025OtherExploration & Production Norway (E&P) FY2015 to FY2019Exploration & Production (E&P) International FY2015 to FY2019Marketing, Midstream and Processing (MMP) FY2015
USD billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then
USD million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.
Revenue by product or service
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Share of the parts, latest year | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Crude oil | 24,307 | 29,519 | 40,948 | 33,505 | 24,509 | 38,307 | 58,524 | 56,861 | 58,249 | 58,396 | 55.5% |
| Natural gas | 9,202 | 11,420 | 14,070 | 11,281 | 7,213 | 28,050 | 65,232 | 26,386 | 22,192 | 25,288 | 24.0% |
| Refined products | 8,142 | 11,423 | 13,124 | 10,652 | 6,534 | 11,473 | 11,093 | 10,083 | 9,242 | 10,380 | 9.9% |
| Natural gas liquids | 4,036 | 5,647 | 7,167 | 5,807 | 5,069 | 8,490 | 9,240 | 8,345 | 7,751 | 7,035 | 6.7% |
| Power | n/a | n/a | n/a | n/a | n/a | n/a | 3,953 | 2,223 | 1,882 | 2,103 | 2.0% |
| Transportation | 0.0 | 0.0 | 1,033 | 967 | 1,083 | 921 | 1,470 | 1,425 | 1,334 | 1,262 | 1.2% |
| Other sales | 1.0 | 2,963 | 903 | 445 | 681 | 1,006 | 748 | 809 | 649 | 778 | 0.7% |
| Not assigned to a part in the filing | n/a | n/a | 2,348 | 1,700 | 729 | 2,677 | n/a | n/a | 2,475 | n/a | n/a |
Crude oilNatural gasRefined productsNatural gas liquidsPower FY2022 to FY2025Transportation FY2018 to FY2025Other sales
USD billion; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then
USD million, from the latest 20-F, in the company's own words. A year is shown only where the parts add up to the revenue above.
Cash flow statement
Follow the cash: free cash flow, which is operating cash flow less capital expenditure and share-based pay, for five years and after, in today's money.
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The figure a share at the top is what a discounted cash flow calls intrinsic value, worked out on your assumptions. Everything after year five is one sum: the sixth year's cash, growing at the long-run rate every year after, added up and brought back to today's money. Each year runs from the latest year filed. Sales growth opens where Play it forward does: the company's own five-year rate, easing a third of the way each year toward the median of the 83 peers in Petroleum and Natural Gas (16.0% a year); change a year and the years after it follow. Operating cash flow, capital expenditure and share-based pay open at the company's own median share of sales over its last five years, shown under each row. Share-based pay is taken off because operating cash flow adds back the shares paid to staff as if they cost nothing; set it to 0 to leave it in. Capital spending counts every capital line the company files in its cash flow, such as equipment it leases to customers, software, wells or property it develops, named under the row, while the Capital expenditure row in the table below stays the one line as filed; buying a business, securities or a finished property is not counted. The discount rate opens at 10%, about what US stocks have returned a year over the long run, so it is the return you give up by holding this company instead of the market; the growth after year five opens at 3%, a little under the US economy's long-run growth in dollars, because no company outgrows it for ever. Net debt is the debt and short-term borrowings less the cash on the latest balance sheet that shows the debt; the figure per share divides what is left by the diluted share count. These are your assumptions and your arithmetic, not an estimate of ours. The link carries them, so you can send them to someone.| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 † | Dec 2019 † | Dec 2020 † | Dec 2021 † | Dec 2022 † | Dec 2023 † | Dec 2024 † | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 13,628 | 8,818 | 14,802 | 19,694 | 13,749 | 10,386 | 28,816 | 35,136 | 29,257 | 19,465 | 19,971 |
| Purchase of property, plant and equipment | 15,518 | 12,191 | 10,755 | 11,367 | 10,204 | 8,476 | 8,040 | 8,758 | 10,575 | 12,177 | 13,994 |
| Free cash flow | -1,890 | -3,373 | 4,047 | 8,327 | 3,545 | 1,910 | 20,776 | 26,378 | 18,682 | 7,288 | 5,977 |
| Cash from investing | -14,501 | -10,230 | -10,117 | -11,212 | -10,594 | -12,092 | -16,211 | -15,863 | -12,409 | -3,532 | -9,596 |
| Cash from financing | -729 | -1,959 | -5,822 | -5,024 | -5,496 | 2,991 | -4,836 | -15,414 | -18,142 | -17,741 | -11,526 |
| Depreciation and amortisation | n/a | n/a | n/a | n/a | n/a | 9,515 | 10,432 | 8,878 | 9,373 | 9,684 | 9,838 |
| Buybacks | n/a | n/a | 0.0 | 0.0 | 442 | 1,059 | 321 | 3,315 | 5,589 | 6,013 | 5,916 |
| Dividends paid | 2,836 | 1,876 | 190 | 275 | 273 | 141 | 230 | 210 | 286 | 152 | 269 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
USD million, from the cash flow statement as filed.
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Purchase of property, plant and equipment is the cash line as filed; purchases of intangible assets and acquisitions are not in it. Free cash flow is cash from operations less that purchase, arithmetic on the two filed lines. Cash from investing and from financing are the company's own section totals, below zero where cash went out. Buybacks are the cash paid for the company's own shares.Balance sheet at year end
| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 † | Dec 2019 † | Dec 2020 † | Dec 2021 † | Dec 2022 † | Dec 2023 † | Dec 2024 † | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Funded by | |||||||||||
| Equity attributable to shareholders | 40,307 | 35,072 | 39,861 | 42,970 | 41,139 | 33,873 | 39,010 | 53,988 | 48,490 | 42,342 | 40,424 |
| Non-controlling interests | n/a | 27.0 | 24.0 | 19.0 | 20.0 | 19.0 | 14.0 | 1.0 | 10.0 | 38.0 | 74.0 |
| Borrowings, as filed | n/a | 31,673 | 28,274 | 25,727 | 24,693 | 33,709 | 32,677 | 28,500 | 28,226 | 26,584 | 27,810 |
| Lease liabilities | n/a | n/a | n/a | 432 | 4,339 | 4,405 | 3,562 | 3,668 | 3,570 | 3,510 | 3,412 |
| Other liabilities | n/a | 37,758 | 42,941 | 43,360 | 49,670 | 52,803 | 71,857 | 71,864 | 63,284 | 58,667 | 60,007 |
| Total equity and liabilities | n/a | 104,530 | 111,100 | 112,508 | 119,861 | 124,809 | 147,120 | 158,021 | 143,580 | 131,141 | 131,727 |
| Owned | |||||||||||
| Property, plant and equipment | n/a | 59,556 | 63,637 | 65,262 | 71,751 | 68,508 | 62,075 | 56,498 | 58,822 | 55,560 | 61,241 |
| Cash and cash equivalents | 8,613 | 5,090 | 4,390 | 7,556 | 5,177 | 6,757 | 13,987 | 9,451 | 8,070 | 5,903 | 5,036 |
| Inventories | n/a | 3,227 | 3,398 | 2,144 | 3,363 | 3,084 | 3,395 | 5,205 | 3,814 | 4,031 | 3,330 |
| Other assets | n/a | 36,657 | 39,675 | 37,546 | 39,570 | 46,460 | 67,663 | 86,867 | 72,874 | 65,647 | 62,120 |
| Total assets | n/a | 104,530 | 111,100 | 112,508 | 119,861 | 124,809 | 147,120 | 158,021 | 143,580 | 131,141 | 131,727 |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
USD million, at each fiscal year end.
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Both totals are the company's own; other liabilities and other assets are each total less the rows shown. Borrowings is the company's own stated total where it files one; it is never added up from its parts here.Ratios on the filed lines
| Year to | Dec 2015 | Dec 2016 † | Dec 2017 † | Dec 2018 † | Dec 2019 † | Dec 2020 † | Dec 2021 † | Dec 2022 † | Dec 2023 † | Dec 2024 † | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 2.3% | 0.2% | 22.5% | 25.3% | 14.4% | -7.5% | 37.0% | 52.3% | 33.4% | 29.8% | 23.8% |
| Net margin | -8.7% | -6.4% | 7.5% | 9.5% | 2.9% | -12.0% | 9.4% | 19.1% | 11.1% | 8.5% | 4.7% |
| Free cash flow margin | -3.2% | -7.4% | 6.6% | 10.5% | 5.5% | 4.2% | 22.8% | 17.5% | 17.4% | 7.0% | 5.6% |
| Return on year-end equity | -12.9% | -8.3% | 11.5% | 17.5% | 4.5% | -16.3% | 22.0% | 53.2% | 24.5% | 20.8% | 12.5% |
| Effective tax rate | 9500.0% | n/a | 65.7% | 60.1% | 80.1% | n/a | 72.8% | 63.4% | 68.6% | 71.5% | 79.8% |
| Filing | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F | 20-F |
Arithmetic on the filed lines of the same year: margins over revenue, return on equity as profit attributable to shareholders over year-end equity, tax over profit before tax.
Questions
What was Equinor ASA's revenue in 2025?
Equinor ASA (EQNR) reported revenue of USD 106 billion for the year to 31 December 2025, up 2.6% on the year before.
How much did Equinor ASA earn in 2025?
Profit attributable to shareholders was USD 5.0 billion for the year to 31 December 2025, and diluted earnings per share USD 1.94.
What is Equinor ASA's P/E ratio?
At the close of 10 November 2026, Equinor ASA traded at 21.0 times its earnings for 2025.
What is Equinor ASA's market cap?
The market cap of Equinor ASA was $101.7 billion at the close of 10 November 2026.
Peers: Petroleum and Natural Gas
| Company | Market cap | P/E | ROE | Op. margin | Sales growth TTM | Debt to equity | Div. yield |
|---|---|---|---|---|---|---|---|
| ExxonMobil Holdings Corp. XOM | $670.8 billion | 16.89 | 15.3% | 14.0% | 19.0% | 0.13 | 2.5% |
| Chevron Corp. CVX | $415.1 billion | 15.45 | 13.9% | 16.7% | 20.0% | 0.17 | 3.3% |
| ConocoPhillips COP | $160.3 billion | 14.25 | 17.5% | n/a | 13.3% | 0.35 | 2.5% |
| BP plc BP * | $122.5 billion | n/a | 0.1% | 6.6% | -1.1% | 1.09 | 4.1% |
| Marathon Petroleum Corp. MPC | $106.1 billion | 7.62 | 63.0% | 12.5% | 31.2% | 1.42 | 1.0% |
| Equinor ASA EQNR * | $101.7 billion | 20.96 | 12.5% | 23.8% | 2.6% | 0.69 | 0.3% |
| Valero Energy Corp. VLO | $97.8 billion | 7.89 | 46.3% | 11.5% | 24.6% | 0.39 | 1.3% |
| Phillips 66 PSX | $97.8 billion | 8.01 | 36.6% | n/a | 27.5% | 0.54 | 2.0% |
| Suncor Energy Inc. SU * | $80.9 billion | 19.71 | 13.1% | n/a | -4.6% | 0.22 | 2.5% |
| Imperial Oil Ltd. IMO | $58.1 billion | 9.80 | 24.8% | 14.2% | 15.7% | 0.14 | 2.3% |
| PBF Energy Inc. PBF | $8.0 billion | 2.94 | 34.1% | 9.8% | 31.5% | 0.27 | 1.7% |
| CVR Energy Inc. CVI | $3.9 billion | 14.72 | 24.4% | 5.7% | 34.4% | 1.63 | n/a |
All 98 in Petroleum and Natural Gas
| Company | Market cap | P/E | ROE | Op. margin | Sales growth TTM | Debt to equity | Div. yield |
|---|---|---|---|---|---|---|---|
| ExxonMobil Holdings Corp. XOM | $670.8 billion | 16.89 | 15.3% | 14.0% | 19.0% | 0.13 | 2.5% |
| Chevron Corp. CVX | $415.1 billion | 15.45 | 13.9% | 16.7% | 20.0% | 0.17 | 3.3% |
| Shell plc SHEL * | $276.8 billion | 16.21 | 10.2% | n/a | -6.1% | 0.43 | 3.1% |
| TotalEnergies SE TTE * | $193.9 billion | 15.20 | 11.4% | n/a | -6.2% | 0.53 | 4.2% |
| ConocoPhillips COP | $160.3 billion | 14.25 | 17.5% | n/a | 13.3% | 0.35 | 2.5% |
| BP plc BP * | $122.5 billion | n/a | 0.1% | 6.6% | -1.1% | 1.09 | 4.1% |
| Petróleo Brasileiro S.A. (Petrobras) PBR * | $117.6 billion | 6.00 | 26.0% | 29.3% | -2.4% | 0.35 | 6.9% |
| Marathon Petroleum Corp. MPC | $106.1 billion | 7.62 | 63.0% | 12.5% | 31.2% | 1.42 | 1.0% |
| Equinor ASA EQNR * | $101.7 billion | 20.96 | 12.5% | 23.8% | 2.6% | 0.69 | 0.3% |
| Canadian Natural Resources Limited CNQ * | $100.4 billion | 13.19 | 24.4% | n/a | 8.7% | 0.37 | 3.5% |
| Valero Energy Corp. VLO | $97.8 billion | 7.89 | 46.3% | 11.5% | 24.6% | 0.39 | 1.3% |
| Phillips 66 PSX | $97.8 billion | 8.01 | 36.6% | n/a | 27.5% | 0.54 | 2.0% |
| Eni S.p.A. E * | $81.5 billion | 31.66 | 5.4% | 6.1% | -7.5% | 0.59 | 4.3% |
| Suncor Energy Inc. SU * | $80.9 billion | 19.71 | 13.1% | n/a | -4.6% | 0.22 | 2.5% |
| EOG Resources Inc. EOG | $78.6 billion | 9.79 | 24.7% | 35.8% | 31.7% | 0.24 | 2.7% |
| SLB Limited SLB | $73.7 billion | 24.23 | 11.9% | n/a | 4.6% | 0.49 | 2.3% |
| Imperial Oil Ltd. IMO | $58.1 billion | 9.80 | 24.8% | 14.2% | 15.7% | 0.14 | 2.3% |
| Occidental Petroleum Corp. OXY | $56.9 billion | n/a | n/a | n/a | n/a | 0.25 | 1.7% |
| Diamondback Energy, Inc. FANG | $49.7 billion | 24.36 | 5.3% | 12.6% | 21.1% | 0.34 | 2.4% |
| Devon Energy Corp. DVN | $49.5 billion | 10.86 | 8.6% | 16.2% | 27.1% | 0.25 | 2.6% |
| Woodside Energy Group Ltd. WDS * | $40.1 billion | 14.84 | 7.6% | 30.0% | -1.5% | 0.33 | 5.0% |
| EQT Corp. EQT | $32.5 billion | 12.33 | 10.4% | 41.8% | 18.6% | 0.22 | 1.3% |
| Halliburton Co. HAL | $26.3 billion | 13.33 | 18.0% | 12.6% | 1.5% | 0.64 | 2.1% |
| Expand Energy Corp. EXE | $20.3 billion | 7.62 | 14.1% | 25.7% | 28.2% | 0.24 | 2.6% |
| Permian Resources Corp. PR | $18.2 billion | 11.32 | 13.0% | 40.1% | 22.8% | 0.25 | 2.8% |
| Ovintiv Inc. OVV | $16.6 billion | 12.42 | 11.4% | 15.1% | 15.0% | 0.31 | 1.9% |
| APA Corp. APA | $15.2 billion | 7.33 | 30.2% | 46.4% | -3.5% | 0.46 | 2.2% |
| Viper Energy, Inc. VNOM | $14.5 billion | 29.33 | 5.4% | 36.2% | n/a | 0.47 | 6.1% |
| Range Resources Corp. RRC | $12.0 billion | 13.59 | 18.3% | 32.4% | 20.8% | 0.16 | 0.8% |
| Antero Resources Corp. AR | $11.6 billion | 8.50 | 15.9% | 27.6% | 28.7% | 0.32 | n/a |
| PBF Energy Inc. PBF | $8.0 billion | 2.94 | 34.1% | 9.8% | 31.5% | 0.27 | 1.7% |
| Chord Energy Corp. CHRD | $7.4 billion | 8.69 | 10.9% | 22.8% | 30.1% | 0.18 | 3.7% |
| SM Energy Co. SM | $7.0 billion | 7.17 | 12.1% | 23.6% | 107.6% | 0.85 | 2.9% |
| Noble Corp. plc NE | $6.6 billion | 124.53 | 1.3% | 12.0% | -13.0% | 0.44 | 4.9% |
| Matador Resources Co. MTDR | $6.2 billion | 8.68 | 11.9% | 31.6% | 1.3% | 0.82 | 3.0% |
| Magnolia Oil & Gas Corp. MGY | $6.1 billion | 10.30 | 10.1% | 36.9% | 26.3% | 0.46 | 2.9% |
| Transocean Ltd. RIG | $5.8 billion | 37.04 | 3.5% | 20.4% | 3.9% | 0.59 | n/a |
| Valaris Ltd. VAL | $5.5 billion | 6.93 | 24.4% | 9.0% | -11.6% | 0.33 | n/a |
| CNX Resources Corp. CNX | $5.3 billion | 6.26 | 18.9% | 42.7% | 47.0% | 0.47 | 0.0% |
| Murphy Oil Corp. MUR | $5.0 billion | 10.82 | 8.7% | 25.7% | 13.7% | 0.29 | 4.0% |
| Crescent Energy Co. CRGY | $4.7 billion | n/a | 1.2% | 27.8% | 33.5% | 0.92 | 4.3% |
| Valvoline Inc. VVV | $4.6 billion | 44.66 | 24.4% | 15.3% | 16.1% | 3.84 | n/a |
| Comstock Resources Inc. CRK | $4.2 billion | 9.88 | 16.1% | 28.4% | 17.5% | 1.29 | 0.0% |
| California Resources Corp. CRC | $4.2 billion | n/a | -16.5% | -20.3% | -23.8% | 0.42 | 3.4% |
| Hess Midstream LP HESM | $3.9 billion | 10.43 | n/a | 62.7% | -0.6% | n/a | n/a |
| CVR Energy Inc. CVI | $3.9 billion | 14.72 | 24.4% | 5.7% | 34.4% | 1.63 | n/a |
| Icahn Enterprises L.P. IEP | $3.8 billion | n/a | n/a | -9.9% | 16.0% | n/a | n/a |
| Patterson-UTI Energy, Inc. PTEN | $3.8 billion | n/a | -0.8% | 0.9% | 0.0% | 0.40 | 3.8% |
| Delek US Holdings, Inc. DK | $3.8 billion | 3.33 | 70.8% | 13.3% | 27.1% | 2.03 | 1.6% |
| Helmerich & Payne, Inc. HP | $3.6 billion | n/a | -5.1% | 2.3% | 16.6% | 0.70 | 0.7% |
| Oceaneering International Inc. OII | $3.5 billion | 10.68 | 27.1% | 10.4% | 3.0% | 0.40 | n/a |
| Par Pacific Holdings, Inc. PARR | $3.4 billion | 3.54 | 40.7% | 13.2% | 29.1% | 0.21 | n/a |
| WaterBridge Infrastructure LLC WBI | $3.3 billion | 190.73 | 1.3% | 15.5% | n/a | 2.37 | n/a |
| Calumet, Inc. CLMT | $3.1 billion | n/a | n/a | 3.4% | 28.4% | n/a | n/a |
| Gulfport Energy Corp. GPOR | $2.8 billion | 6.23 | 25.5% | 44.3% | 20.3% | 0.56 | n/a |
| Seadrill Ltd. SDRL | $2.7 billion | n/a | -0.6% | 8.6% | 17.1% | 0.26 | n/a |
| Quaker Chemical Corp. KWR | $2.7 billion | 27.59 | 6.9% | 7.6% | 8.7% | 0.63 | 1.3% |
| Northern Oil & Gas, Inc. NOG | $2.5 billion | n/a | -25.7% | -24.2% | -28.3% | 1.43 | 7.7% |
| Talos Energy Inc. TALO | $2.5 billion | n/a | -20.2% | -0.4% | 13.5% | 0.72 | n/a |
| Select Water Solutions, Inc. WTTR | $2.2 billion | 37.32 | 4.6% | 5.2% | 7.8% | 0.23 | n/a |
| National Energy Services Reunited Corp. NESR | $2.1 billion | 19.03 | 10.2% | 10.1% | n/a | 0.25 | n/a |
| BKV Corp. BKV | $2.0 billion | 8.99 | 9.8% | 28.1% | 34.2% | 0.89 | n/a |
| Liberty Energy Inc. LBRT | $2.0 billion | 52.04 | 2.1% | 1.7% | 13.6% | 0.67 | 2.9% |
| Mach Natural Resources LP MNR | $1.6 billion | 10.14 | n/a | 17.9% | 36.7% | n/a | n/a |
| Dorchester Minerals, L.P. DMLP | $1.4 billion | 13.18 | n/a | 49.8% | 38.2% | n/a | n/a |
| Nabors Industries Ltd. NBR | $1.3 billion | n/a | -6.8% | 14.0% | 4.8% | 3.57 | n/a |
| Kosmos Energy Ltd. KOS | $1.3 billion | n/a | -68.9% | -21.9% | 20.9% | 3.87 | n/a |
| RPC Inc. RES | $1.2 billion | n/a | -3.0% | -2.2% | 17.8% | 0.03 | 3.1% |
| Hornbeck Offshore Services, Inc. HOS | $1.2 billion | n/a | -3.4% | -2.8% | -7.1% | 0.36 | n/a |
| Tamboran Resources Corp. TBN | $994 million | n/a | -3.3% | n/a | n/a | 0.07 | n/a |
| Diversified Energy Co. DEC | $947 million | 16.74 | 11.0% | 14.7% | n/a | 4.29 | 8.7% |
| Riley Exploration Permian, Inc. REPX | $913 million | 8.90 | 16.0% | 45.6% | 45.5% | 0.38 | 3.9% |
| Tetra Technologies Inc. TTI | $884 million | 99.33 | 2.1% | 6.9% | 6.1% | 0.46 | n/a |
| HighPeak Energy, Inc. HPK | $864 million | n/a | n/a | n/a | n/a | 0.78 | 2.3% |
| ProPetro Holding Corp. PUMP | $840 million | n/a | 0.2% | 0.5% | -6.0% | 0.86 | n/a |
| Infinity Natural Resources, Inc. INR | $825 million | 8.34 | 12.8% | 42.1% | 107.6% | 1.39 | n/a |
| Granite Ridge Resources, Inc. GRNT | $795 million | n/a | -9.7% | 13.7% | 24.2% | 0.85 | 7.3% |
| TXO Partners, L.P. TXO | $761 million | n/a | n/a | -23.7% | -1.2% | n/a | n/a |
| Atlas Energy Solutions Inc. AESI | $669 million | n/a | -13.0% | -10.2% | -3.7% | 0.92 | 14.0% |
| ProFrac Holding Corp. ACDC | $645 million | n/a | -76.9% | -12.0% | -3.3% | 2.01 | n/a |
| Vitesse Energy, Inc. VTS | $626 million | n/a | -8.1% | 12.0% | 10.6% | 0.33 | 12.6% |
| Vaalco Energy Inc. EGY | $565 million | n/a | -44.6% | 1.6% | 11.8% | 0.71 | 4.7% |
| Sandridge Energy Inc. SD | $466 million | 4.78 | 17.1% | 38.4% | 24.9% | 0.00 | 4.6% |
| W&T Offshore Inc. WTI | $448 million | n/a | n/a | 5.0% | 20.3% | n/a | 1.4% |
| Core Laboratories Inc. CLB | $410 million | 22.95 | 5.6% | 7.5% | -0.1% | 0.41 | 0.4% |
| Natural Gas Services Group Inc. NGS | $372 million | 18.23 | 6.8% | 21.2% | 24.2% | 1.14 | 1.8% |
| Gran Tierra Energy Inc. GTE | $336 million | n/a | -308.1% | -54.4% | 6.2% | 6.53 | n/a |
| Ring Energy, Inc. REI | $296 million | n/a | -25.1% | -20.5% | 7.4% | 0.47 | n/a |
| Ranger Energy Services, Inc. RNGR | $267 million | 17.32 | 5.1% | 3.9% | 16.9% | 0.00 | 0.5% |
| Pedevco Corp. PED | $177 million | n/a | n/a | 14.0% | 229.4% | 0.00 | n/a |
| Epsilon Energy Ltd. EPSN | $159 million | n/a | -2.7% | 1.0% | 53.7% | 0.31 | n/a |
| Sable Offshore Corp. SOC | $158 million | n/a | -182.8% | -111.9% | n/a | 2.96 | n/a |
| Mammoth Energy Services, Inc. TUSK | $157 million | 11.28 | 5.1% | -10.6% | -10.4% | 0.00 | n/a |
| Evolution Petroleum Corp. EPM | $146 million | n/a | -9.5% | 6.2% | 2.8% | 0.92 | 13.3% |
| Amplify Energy Corp. AMPY | $144 million | 6.91 | 5.9% | 23.0% | -28.2% | 0.00 | n/a |
| Nine Energy Service, Inc. NINE | $102 million | n/a | 61.5% | -4.3% | -4.4% | 0.78 | n/a |
| Empire Petroleum Corp. EP | $101 million | n/a | -974.5% | -224.1% | -20.8% | 2.07 | n/a |
| BIG SKY Industrial Inc. BSIN | $69 million | n/a | -31.7% | -145.5% | -30.4% | 0.25 | n/a |
14 companies share its SEC industry code (Petroleum Refining); the rest are the names nearest in size in its wider industry, Petroleum and Natural Gas, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
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By market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.Annual reports on EDGAR
| Form | Year to | Filed | |
|---|---|---|---|
| 20-F | 31 December 2025 | 19 March 2026 | EDGAR |
| 20-F | 31 December 2024 | 20 March 2025 | EDGAR |
| 20-F/A | 31 December 2023 | 21 March 2024 | EDGAR |
| 20-F | 31 December 2023 | 21 March 2024 | EDGAR |
| 20-F | 31 December 2022 | 23 March 2023 | EDGAR |
| 20-F/A | 31 December 2021 | 18 March 2022 | EDGAR |
| 20-F | 31 December 2021 | 18 March 2022 | EDGAR |
| 20-F | 31 December 2020 | 19 March 2021 | EDGAR |
| 20-F | 31 December 2019 | 20 March 2020 | EDGAR |
| 20-F | 31 December 2018 | 15 March 2019 | EDGAR |
| 20-F | 23 March 2018 | 23 March 2018 | EDGAR |
| 20-F | 17 March 2017 | 17 March 2017 | EDGAR |