Equinor ASA ADR (EQNR) financial statements: income statement, balance sheet and cash flow

Equinor ASA ADR's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Equinor ASA ADR reported revenue of $106.5B (+2.6% year on year) and net income of $5.1B (-42.7% year on year).

Income statement

Equinor ASA ADR income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenues	$105.8B	$102.5B	$106.8B	$149.0B
Net income/(loss) from equity accounted investments	$18.0M	$49.0M	($1.0M)	$620.0M
Other income	$616.0M	$1.2B	$327.0M	$1.2B
Total revenues and other income	$106.5B	$103.8B	$107.2B	$150.8B
Purchases [net of inventory variation]	($55.2B)	($50.0B)	($48.2B)	($53.8B)
Operating expenses	($11.6B)	($10.5B)	($10.6B)	($9.6B)
Selling, general and administrative expenses	($1.2B)	($1.3B)	($1.2B)	($986.0M)
Depreciation, amortisation and net impairment	($12.3B)	($9.8B)	($10.6B)	($6.4B)
Exploration expenses	($849.0M)	($1.2B)	($795.0M)	($1.2B)
Total operating expenses	($81.1B)	($72.8B)	($71.4B)	($72.0B)
Net operating income/(loss)	$25.4B	$30.9B	$35.8B	$78.8B
Interest income and other financial income	$1.2B	$2.0B	$2.4B	—
Interest expenses and other financial expenses	($1.4B)	($1.6B)	($1.7B)	($1.4B)
Other financial items	($3.0M)	($311.0M)	$1.3B	$1.2B
Net financial items	($265.0M)	$58.0M	$2.1B	($207.0M)
Income/(loss) before tax	$25.1B	$31.0B	$37.9B	$78.6B
Income tax	($20.0B)	($22.2B)	($26.0B)	($49.9B)
Net income/(loss)	$5.1B	$8.8B	$11.9B	$28.7B
Attributable to shareholders of the company	$5.0B	$8.8B	$11.9B	$28.7B
Attributable to non-controlling interests	$15.0M	$23.0M	$19.0M	($3.0M)
Basic earnings per share (in USD per share)	$1.94	$3.12	$3.93	$9.06
Diluted earnings per share (in USD per share)	$1.94	$3.11	$3.93	$9.03

Equinor ASA ADR income statement, quarters

Line item	Sep 30, 2025 · YTD	Jun 30, 2022 · YTD	Jun 30, 2021 · YTD	Jun 30, 2020 · YTD
Revenues	$80.5B	$72.4B	$33.5B	$22.6B
Net income/(loss) from equity accounted investments	$6.0M	$151.0M	$47.0M	$104.0M
Other income	$578.0M	$265.0M	$1.5B	$2.0M
Total revenues and other income	$81.1B	$72.9B	$35.1B	$22.7B
Purchases [net of inventory variation]	($42.1B)	($27.4B)	($14.6B)	($10.1B)
Operating expenses	($8.7B)	($4.2B)	($4.1B)	($4.6B)
Selling, general and administrative expenses	($910.0M)	($487.0M)	($413.0M)	($374.0M)
Depreciation, amortisation and net impairments	($9.0B)	($4.2B)	($4.9B)	($7.0B)
Exploration expenses	($562.0M)	($534.0M)	($572.0M)	($1.0B)
Total operating expenses	($61.3B)	($36.7B)	($24.5B)	($23.1B)
Net operating income/(loss)	$19.9B	$36.1B	$10.5B	($414.0M)
Interest income and other financial income	$903.0M	—	—	—
Interest expenses and other financial expenses	($1.0B)	($593.0M)	($616.0M)	($723.0M)
Other financial items	($409.0M)	$1.4B	($485.0M)	$498.0M
Net financial items	($548.0M)	$854.0M	($1.1B)	($225.0M)
Income/(loss) before tax	$19.3B	$37.0B	$9.4B	($640.0M)
Income tax	($15.6B)	($25.5B)	($5.6B)	($316.0M)
Net income/(loss)	$3.7B	$11.5B	$3.8B	($956.0M)
Attributable to equity holders of the company	$3.7B	$11.5B	$3.8B	($961.0M)
Attributable to non-controlling interests	$15.0M	$9.0M	$8.0M	$6.0M
Basic earnings per share (in USD per share)	$1.42	$3.57	$1.17	-$0.29
Diluted earnings per share (in USD per share)	$1.42	$3.56	$1.16	-$0.29
Weighted average number of ordinary shares outstanding (in shares)	2.6B	3.2B	3.2B	3.3B
Weighted average number of ordinary shares outstanding, diluted (in shares)	2.6B	3.2B	3.3B	—

Balance sheet

Equinor ASA ADR balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Property, plant and equipment	$61.2B	$55.6B	—	—
Intangible assets	$6.0B	$5.7B	$5.7B	$5.2B
Equity accounted investments	$8.5B	$2.5B	$2.5B	$2.8B
Deferred tax assets	$5.1B	$4.9B	$7.9B	$8.7B
Pension assets	$2.1B	$1.7B	$1.3B	$1.2B
Derivative financial instruments	$1.0B	$648.0M	$559.0M	$691.0M
Financial investments	$6.8B	$5.6B	$3.4B	$2.7B
Non-current prepayments and financial receivables	$2.1B	$1.4B	$1.3B	$2.1B
Total non-current assets	$92.8B	$77.9B	$81.5B	$79.9B
Inventories	$3.3B	$4.0B	$3.8B	$5.2B
Trade and other receivables	$10.8B	$13.6B	$16.9B	$22.5B
Current prepayments and financial receivables	$3.9B	$3.9B	—	—
Derivative financial instruments	$667.0M	$1.0B	$1.4B	$4.0B
Financial investments	$14.3B	$15.3B	$29.2B	$29.9B
Cash and cash equivalents	$5.0B	$8.1B	$9.6B	$15.6B
Total current assets	$38.0B	$46.0B	$61.0B	$77.2B
Assets classified as held for sale	$906.0M	$7.2B	$1.1B	$1.0B
Total assets	$131.7B	$131.1B	$143.6B	$158.0B
Shareholders’ equity	$40.4B	$42.3B	$48.5B	$54.0B
Non-controlling interests	$74.0M	$38.0M	$10.0M	$1.0M
Total equity	$40.5B	$42.4B	$48.5B	$54.0B
Finance debt	$23.8B	$19.4B	$22.2B	$24.1B
Lease liabilities	$2.2B	$2.3B	$2.3B	$2.4B
Deferred tax liabilities	$14.5B	$12.7B	$13.3B	$12.0B
Pension liabilities	$4.1B	$3.5B	$3.9B	$3.7B
Non-current provisions and other liabilities	$14.7B	$12.9B	$15.3B	$15.6B
Non-current derivative financial instruments	$1.1B	$2.0B	—	—
Total non-current liabilities	$60.5B	$52.7B	$58.9B	$60.2B
Trade and other payables	$9.7B	$11.1B	$11.9B	$13.4B
Current provisions and other liabilities	$3.3B	$2.4B	—	—
Current tax payable	$11.0B	$10.3B	$12.3B	$17.7B
Finance debt	$4.0B	$7.2B	$6.0B	$4.4B
Lease liabilities	$1.2B	$1.2B	$1.3B	$1.3B
Dividends payable	$923.0M	$1.9B	$2.6B	$2.8B
Derivative financial instruments	$448.0M	$833.0M	$1.8B	$2.4B
Total current liabilities	$30.6B	$35.0B	$35.7B	$43.5B
Liabilities directly associated with the assets classified as held for sale	$179.0M	$1.0B	$471.0M	$268.0M
Total liabilities	$91.2B	$88.8B	$95.1B	$104.0B
Total equity and liabilities	$131.7B	$131.1B	$143.6B	$158.0B

Equinor ASA ADR balance sheet, quarters

Line item	Sep 30, 2025	Jun 30, 2022	Jun 30, 2021	Jun 30, 2020
Property, plant and equipment	$60.0B	$54.8B	$65.4B	$63.9B
Intangible assets	$6.4B	$5.3B	$6.8B	$10.3B
Equity accounted investments	$2.8B	$1.7B	$2.4B	$1.6B
Deferred tax assets	$5.0B	$6.5B	$5.2B	$3.8B
Pension assets	$2.2B	$815.0M	$1.6B	$963.0M
Derivative financial instruments	$812.0M	$660.0M	$1.7B	$1.6B
Financial investments	$4.9B	$2.8B	$3.9B	$3.2B
Prepayments and financial receivables	$1.5B	$1.6B	$934.0M	$1.3B
Total non-current assets	$83.7B	$74.1B	$87.9B	$86.7B
Inventories	$3.7B	$5.3B	$2.5B	$3.0B
Trade and other receivables	$10.4B	$17.7B	$8.6B	$5.5B
Prepayments and financial receivables	$4.3B	—	—	—
Derivative financial instruments	$672.0M	$6.9B	$2.3B	$589.0M
Financial investments	$14.3B	$25.1B	$15.2B	$9.3B
Cash and cash equivalents	$8.1B	$20.6B	$9.9B	$9.7B
Total current assets	$41.4B	$75.5B	$38.4B	$28.1B
Assets classified as held for sale	$10.7B	$2.4B	$950.0M	—
Total assets	$135.8B	$152.0B	$127.3B	$114.8B
Shareholders' equity	$40.5B	$41.2B	$37.0B	$35.6B
Non-controlling interests	$67.0M	$21.0M	$18.0M	$23.0M
Total equity	$40.6B	$41.2B	$37.0B	$35.6B
Finance debt	$22.9B	$24.1B	$28.1B	$31.6B
Lease liabilities	$2.2B	$2.3B	$2.8B	—
Deferred tax liabilities	$15.0B	$13.4B	$12.3B	$8.9B
Pension liabilities	$4.3B	$4.1B	$4.4B	$3.6B
Provision and other liabilities	$14.6B	—	—	—
Derivative financial instruments	$1.1B	$2.0B	$606.0M	$967.0M
Total non-current liabilities	$60.0B	$61.7B	$67.1B	$63.2B
Trade and other payables	$10.4B	$11.0B	$10.0B	$8.6B
Provisions and other liabilities	$3.4B	$15.8B	$18.9B	$18.1B
Current tax payable	$12.7B	$21.6B	$5.2B	$674.0M
Finance debt	$4.8B	$5.8B	$3.5B	$5.5B
Lease liabilities	$1.1B	$1.1B	$1.1B	—
Dividends payable	$930.0M	$1.3B	$487.0M	$297.0M
Derivative financial instruments	$444.0M	$6.4B	$2.2B	$928.0M
Total current liabilities	$33.7B	$47.2B	$22.5B	$16.0B
Liabilities directly associated with the assets classified for sale	$1.5B	$1.8B	$610.0M	—
Total liabilities	$95.3B	$110.7B	$90.2B	$79.2B
Total equity and liabilities	$135.8B	$152.0B	$127.3B	$114.8B

Cash flow statement

Equinor ASA ADR cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Income/(loss) before tax	$25.1B	$31.0B	$37.9B	$78.6B
Depreciation, amortisation and net impairments, including exploration write-offs	$12.5B	$9.9B	—	—
(Gains)/losses on foreign currency transactions and balances	$135.0M	($166.0M)	($852.0M)	($2.1B)
(Gains)/losses on sale of assets and businesses	($287.0M)	($772.0M)	$8.0M	($823.0M)
(Increase)/decrease in other items related to operating activities	($58.0M)	($2.3B)	($1.3B)	$468.0M
(Increase)/decrease in net derivative financial instruments	($429.0M)	($86.0M)	$1.0B	$1.1B
Cash collaterals for commodity derivative transactions	$962.0M	—	—	—
Interest received	$1.2B	$1.8B	$1.7B	$399.0M
Interest paid	($665.0M)	($891.0M)	($1.0B)	($747.0M)
Cash flows provided by operating activities before taxes paid and working capital items	$38.4B	$38.5B	$48.0B	$83.6B
Taxes paid	($20.5B)	($20.6B)	($28.3B)	($43.9B)
(Increase)/decrease in working capital	$2.0B	$2.2B	$5.0B	($4.6B)
Cash flows provided by operating activities	$20.0B	$20.1B	$24.7B	$35.1B
Cash used in business combinations	($26.0M)	($1.7B)	($1.2B)	—
Capital expenditures and investments	($14.0B)	($12.2B)	($10.6B)	($8.6B)
(Increase)/decrease in financial investments	$1.6B	$9.4B	$443.0M	($10.1B)
(Increase)/decrease in derivative financial instruments	$283.0M	$143.0M	—	—
(Increase)/decrease in other interest-bearing items	$114.0M	($623.0M)	($87.0M)	($23.0M)
Proceeds from sale of assets and businesses	$2.5B	$1.5B	$272.0M	$966.0M
Cash flows provided by/(used in) investing activities	($9.6B)	($3.5B)	($12.4B)	($15.9B)
New finance debt	$5.9B	—	—	$0
Repayment of finance debt	($2.4B)	($2.6B)	($2.8B)	($250.0M)
Repayment of lease liabilities	($1.5B)	($1.5B)	($1.4B)	($1.4B)
Dividends paid	($4.8B)	($8.6B)	($10.9B)	($5.4B)
Share buy-back	-5.9B	-6.0B	-5.6B	-3.3B
Net current finance debt and other financing activities	($2.9B)	$933.0M	$2.6B	($5.1B)
Cash flows provided by/(used in) financing activities	($11.5B)	($17.7B)	($18.1B)	($15.4B)
Net increase/(decrease) in cash and cash equivalents	($1.1B)	($1.2B)	($5.8B)	$3.9B
Foreign currency translation effects	$284.0M	($359.0M)	($87.0M)	($2.3B)
Cash and cash equivalents at the end of the period (net of overdraft)	$5.9B	$9.6B	$9.6B	$15.6B
Cash and cash equivalents at the end of the period (net of overdraft)	$5.0B	$8.1B	—	—

Equinor ASA ADR cash flow statement, quarters

Line item	Sep 30, 2025 · YTD	Jun 30, 2022 · YTD	Jun 30, 2021 · YTD	Jun 30, 2020 · YTD
Income/(loss) before tax	$19.3B	$37.0B	$9.4B	($640.0M)
Depreciation, amortisation and net impairments, including exploration write-offs	$9.1B	—	—	—
(Gains)/losses on foreign currency transactions and balances	$129.0M	($2.5B)	($27.0M)	$24.0M
(Gains)/losses on sale of assets and businesses	($524.0M)	($94.0M)	($1.4B)	($1.0M)
(Increase)/decrease in other items related to operating activities	$1.0M	($1.2B)	($343.0M)	$492.0M
(Increase)/decrease in net derivative financial instruments	($241.0M)	$956.0M	$746.0M	($264.0M)
Cash collaterals for commodity derivative transactions	$509.0M	—	—	—
Interest received	$987.0M	$70.0M	$78.0M	$108.0M
Interest paid	($401.0M)	($351.0M)	($340.0M)	($380.0M)
Cash flow provided by operating activities before taxes paid and working capital items	$28.9B	—	—	—
Taxes paid	($14.2B)	($12.4B)	($428.0M)	($2.6B)
(Increase)/decrease in working capital	$3.2B	$1.5B	$106.0M	$1.2B
Cash flows provided by operating activities	$17.9B	$24.3B	$12.6B	$5.4B
Cash (used)/received in business combinations	($26.0M)	$168.0M	($111.0M)	$0
Capital expenditures and investments	($9.8B)	($3.9B)	($3.9B)	($4.2B)
(Increase)/decrease in financial investments	$3.2B	($5.9B)	($3.5B)	($2.1B)
(Increase)/decrease in derivative financial instruments	$296.0M	—	—	—
(Increase)/decrease in other interest-bearing items	$126.0M	$33.0M	($137.0M)	$3.0M
Proceeds from sale of assets and businesses	$424.0M	$217.0M	$1.8B	$2.0M
Cash flows provided by/(used in) investing activities	($5.9B)	($8.0B)	($6.2B)	($6.4B)
New finance debt	$4.2B	—	$0	$8.3B
Repayment of finance debt	($2.0B)	$0	($1.4B)	($623.0M)
Repayment of lease liabilities	($1.1B)	($661.0M)	($610.0M)	—
Dividends paid	($3.9B)	($1.9B)	($744.0M)	($1.8B)
Share buy-back	-5.5B	-742.0M	0	-58.0M
Net current finance debt and other financing activities	($1.7B)	($5.1B)	($327.0M)	($198.0M)
Cash flows provided by/(used in) financing activities	($10.1B)	($8.3B)	($3.1B)	$5.7B
Net increase/(decrease) in cash and cash equivalents	$1.9B	$7.9B	$3.3B	$4.7B
Effect of exchange rate changes in cash and cash equivalents	$306.0M	($1.3B)	($170.0M)	($159.0M)
Cash and cash equivalents at the beginning of the period	$5.9B	—	—	—
Cash and cash equivalents at the end of the period	$8.1B	—	—	—

Equinor ASA ADR score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.