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Side-by-side financial comparison of EQUINOR ASA (EQNR) and Occidental Petroleum (OXY), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
EQUINOR ASA is the larger business by last-quarter revenue ($26.0B vs $1.7B, roughly 15.7× Occidental Petroleum). Occidental Petroleum runs the higher net margin — -0.8% vs 6.9%, a 7.7% gap on every dollar of revenue. On growth, EQUINOR ASA posted the faster year-over-year revenue change (2.4% vs -75.8%).
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.
Occidental Petroleum Corporation is an American company engaged in hydrocarbon exploration in the United States and the Middle East as well as petrochemical manufacturing in the United States, Canada, and Chile. It is incorporated under the Delaware General Corporation Law and headquartered in Houston. The company ranked 183rd on the 2021 Fortune 500 based on its 2020 revenues and 670th on the 2021 Forbes Global 2000.
EQNR vs OXY — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $26.0B | $1.7B |
| Net Profit | $-204.0M | $114.0M |
| Gross Margin | 46.6% | — |
| Operating Margin | 20.2% | -6.5% |
| Net Margin | -0.8% | 6.9% |
| Revenue YoY | 2.4% | -75.8% |
| Net Profit YoY | -108.9% | 195.0% |
| EPS (diluted) | $-0.08 | $-0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | — | $1.7B | ||
| Q3 25 | $26.0B | $6.7B | ||
| Q2 25 | $25.1B | $6.3B | ||
| Q1 25 | — | $6.9B | ||
| Q4 24 | — | $6.9B | ||
| Q3 24 | $25.4B | $7.0B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $6.7B |
| Q4 25 | — | $114.0M | ||
| Q3 25 | $-204.0M | $842.0M | ||
| Q2 25 | $1.3B | $468.0M | ||
| Q1 25 | — | $945.0M | ||
| Q4 24 | — | $-120.0M | ||
| Q3 24 | $2.3B | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $888.0M |
| Q4 25 | — | — | ||
| Q3 25 | 46.6% | 87.8% | ||
| Q2 25 | 49.3% | 86.6% | ||
| Q1 25 | — | 88.4% | ||
| Q4 24 | — | 89.0% | ||
| Q3 24 | 48.5% | 88.5% | ||
| Q2 24 | — | 87.9% | ||
| Q1 24 | — | 89.0% |
| Q4 25 | — | -6.5% | ||
| Q3 25 | 20.2% | 17.4% | ||
| Q2 25 | 22.8% | 11.7% | ||
| Q1 25 | — | 19.3% | ||
| Q4 24 | — | -2.5% | ||
| Q3 24 | 27.1% | 22.7% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 15.0% |
| Q4 25 | — | 6.9% | ||
| Q3 25 | -0.8% | 12.6% | ||
| Q2 25 | 5.2% | 7.4% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | — | -1.7% | ||
| Q3 24 | 9.0% | 16.2% | ||
| Q2 24 | — | 17.2% | ||
| Q1 24 | — | 13.2% |
| Q4 25 | — | $-0.07 | ||
| Q3 25 | $-0.08 | $0.65 | ||
| Q2 25 | $0.50 | $0.26 | ||
| Q1 25 | — | $0.77 | ||
| Q4 24 | — | $-0.32 | ||
| Q3 24 | $0.82 | $0.98 | ||
| Q2 24 | — | $1.03 | ||
| Q1 24 | — | $0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.1B | $2.0B |
| Total DebtLower is stronger | — | $20.6B |
| Stockholders' EquityBook value | $40.6B | $36.0B |
| Total Assets | $135.8B | $84.2B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $2.0B | ||
| Q3 25 | $8.1B | $2.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | $6.2B | $1.8B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | — | $20.6B | ||
| Q3 25 | — | $20.8B | ||
| Q2 25 | — | $23.3B | ||
| Q1 25 | — | $24.0B | ||
| Q4 24 | — | $25.0B | ||
| Q3 24 | — | $25.5B | ||
| Q2 24 | — | $18.4B | ||
| Q1 24 | — | $18.5B |
| Q4 25 | — | $36.0B | ||
| Q3 25 | $40.6B | $36.3B | ||
| Q2 25 | — | $35.7B | ||
| Q1 25 | — | $34.7B | ||
| Q4 24 | — | $34.2B | ||
| Q3 24 | $44.4B | $34.7B | ||
| Q2 24 | — | $32.1B | ||
| Q1 24 | — | $30.8B |
| Q4 25 | — | $84.2B | ||
| Q3 25 | $135.8B | $83.5B | ||
| Q2 25 | — | $84.4B | ||
| Q1 25 | — | $85.0B | ||
| Q4 24 | — | $85.4B | ||
| Q3 24 | — | $85.8B | ||
| Q2 24 | — | $76.2B | ||
| Q1 24 | — | $74.3B |
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.60× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $6.3B | $2.6B |
| Free Cash FlowOCF − Capex | — | $1.9B |
| FCF MarginFCF / Revenue | — | 113.4% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | — | 45.4% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 23.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.1B |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | — | $2.6B | ||
| Q3 25 | $6.3B | $2.8B | ||
| Q2 25 | $2.5B | $3.0B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | $6.5B | $3.7B | ||
| Q2 24 | — | $2.4B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $962.0M | ||
| Q1 25 | — | $240.0M | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $623.0M | ||
| Q1 24 | — | $224.0M |
| Q4 25 | — | 113.4% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 28.5% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 3.3% |
| Q4 25 | — | 45.4% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 31.6% | ||
| Q1 25 | — | 27.6% | ||
| Q4 24 | — | 26.0% | ||
| Q3 24 | — | 24.0% | ||
| Q2 24 | — | 26.0% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | — | 23.11× | ||
| Q3 25 | — | 3.31× | ||
| Q2 25 | 1.88× | 6.32× | ||
| Q1 25 | — | 2.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.84× | 3.23× | ||
| Q2 24 | — | 2.05× | ||
| Q1 24 | — | 2.26× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
