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Side-by-side financial comparison of CVR ENERGY INC (CVI) and EQUINOR ASA (EQNR). Click either name above to swap in a different company.
EQUINOR ASA is the larger business by last-quarter revenue ($26.0B vs $1.8B, roughly 14.4× CVR ENERGY INC). EQUINOR ASA runs the higher net margin — -0.8% vs -6.1%, a 5.3% gap on every dollar of revenue. On growth, EQUINOR ASA posted the faster year-over-year revenue change (2.4% vs -7.0%).
CVR Energy Inc is a United States-based energy holding company operating two core segments: petroleum refining and nitrogen fertilizer manufacturing. It produces a wide range of products including gasoline, diesel, jet fuel, and agricultural fertilizers, primarily serving commercial, industrial and agricultural customers across North America.
Equinor ASA is a Norwegian multinational energy company headquartered in Stavanger, Norway. It is primarily a petroleum company operating in 36 countries with additional investments in renewable energy and lithium mining. In the 2020 Forbes Global 2000, Equinor was ranked as the 169th-largest public company in the world. In 2023, the company was ranked 52nd in the same list. As of 2021, the company has 21,126 employees.
CVI vs EQNR — Head-to-Head
Income Statement — Q4 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $1.8B | $26.0B |
| Net Profit | $-110.0M | $-204.0M |
| Gross Margin | -3.1% | 46.6% |
| Operating Margin | -5.3% | 20.2% |
| Net Margin | -6.1% | -0.8% |
| Revenue YoY | -7.0% | 2.4% |
| Net Profit YoY | -492.9% | -108.9% |
| EPS (diluted) | $-1.09 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.9B | $26.0B | ||
| Q2 25 | $1.8B | $25.1B | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.8B | $25.4B | ||
| Q2 24 | $2.0B | — | ||
| Q1 24 | $1.9B | — |
| Q4 25 | $-110.0M | — | ||
| Q3 25 | $374.0M | $-204.0M | ||
| Q2 25 | $-114.0M | $1.3B | ||
| Q1 25 | $-123.0M | — | ||
| Q4 24 | $28.0M | — | ||
| Q3 24 | $-124.0M | $2.3B | ||
| Q2 24 | $21.0M | — | ||
| Q1 24 | $82.0M | — |
| Q4 25 | -3.1% | — | ||
| Q3 25 | 28.8% | 46.6% | ||
| Q2 25 | -3.7% | 49.3% | ||
| Q1 25 | -5.5% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | -3.9% | 48.5% | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 8.6% | — |
| Q4 25 | -5.3% | — | ||
| Q3 25 | 26.3% | 20.2% | ||
| Q2 25 | -5.8% | 22.8% | ||
| Q1 25 | -8.0% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | -6.2% | 27.1% | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 6.6% | — |
| Q4 25 | -6.1% | — | ||
| Q3 25 | 19.2% | -0.8% | ||
| Q2 25 | -6.5% | 5.2% | ||
| Q1 25 | -7.5% | — | ||
| Q4 24 | 1.4% | — | ||
| Q3 24 | -6.8% | 9.0% | ||
| Q2 24 | 1.1% | — | ||
| Q1 24 | 4.4% | — |
| Q4 25 | $-1.09 | — | ||
| Q3 25 | $3.72 | $-0.08 | ||
| Q2 25 | $-1.14 | $0.50 | ||
| Q1 25 | $-1.22 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $-1.24 | $0.82 | ||
| Q2 24 | $0.21 | — | ||
| Q1 24 | $0.81 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $511.0M | $8.1B |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $730.0M | $40.6B |
| Total Assets | $3.7B | $135.8B |
| Debt / EquityLower = less leverage | 2.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $511.0M | — | ||
| Q3 25 | $670.0M | $8.1B | ||
| Q2 25 | $596.0M | — | ||
| Q1 25 | $695.0M | — | ||
| Q4 24 | $987.0M | — | ||
| Q3 24 | $534.0M | $6.2B | ||
| Q2 24 | $586.0M | — | ||
| Q1 24 | $644.0M | — |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.8B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.6B | — | ||
| Q1 24 | $1.6B | — |
| Q4 25 | $730.0M | — | ||
| Q3 25 | $840.0M | $40.6B | ||
| Q2 25 | $466.0M | — | ||
| Q1 25 | $580.0M | — | ||
| Q4 24 | $703.0M | — | ||
| Q3 24 | $675.0M | $44.4B | ||
| Q2 24 | $849.0M | — | ||
| Q1 24 | $879.0M | — |
| Q4 25 | $3.7B | — | ||
| Q3 25 | $4.0B | $135.8B | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $3.9B | — | ||
| Q2 24 | $4.0B | — | ||
| Q1 24 | $4.1B | — |
| Q4 25 | 2.40× | — | ||
| Q3 25 | 2.17× | — | ||
| Q2 25 | 3.97× | — | ||
| Q1 25 | 3.29× | — | ||
| Q4 24 | 2.71× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.86× | — | ||
| Q1 24 | 1.79× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $0 | $6.3B |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 3.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $0 | — | ||
| Q3 25 | $163.0M | $6.3B | ||
| Q2 25 | $176.0M | $2.5B | ||
| Q1 25 | $-195.0M | — | ||
| Q4 24 | $98.0M | — | ||
| Q3 24 | $48.0M | $6.5B | ||
| Q2 24 | $81.0M | — | ||
| Q1 24 | $177.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | $125.0M | — | ||
| Q2 25 | $135.0M | — | ||
| Q1 25 | $-246.0M | — | ||
| Q4 24 | $43.0M | — | ||
| Q3 24 | $14.0M | — | ||
| Q2 24 | $38.0M | — | ||
| Q1 24 | $130.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | 6.4% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | -14.9% | — | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 1.9% | — | ||
| Q1 24 | 7.0% | — |
| Q4 25 | 3.0% | — | ||
| Q3 25 | 2.0% | — | ||
| Q2 25 | 2.3% | — | ||
| Q1 25 | 3.1% | — | ||
| Q4 24 | 2.8% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 2.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.44× | — | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.50× | — | ||
| Q3 24 | — | 2.84× | ||
| Q2 24 | 3.86× | — | ||
| Q1 24 | 2.16× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVI
| Petroleum Segment | $1.6B | 91% |
| Product UAN | $64.0M | 4% |
| Product Ammonia | $51.0M | 3% |
| Renewables Diesel | $27.0M | 1% |
| Product Urea Products | $8.0M | 0% |
| Renewable Fuel Credits | $7.0M | 0% |
EQNR
Segment breakdown not available.
