Equinor ASA (EQNR) — Capital Reinvestment Ratio
Equinor ASA (EQNR) has a Capital Reinvestment Ratio of 0.70x as of December 2025, meaning it reinvests 1% of its operating cash flow (Nkr19.97 Billion) in capital expenditures (Nkr13.99 Billion). Check tangible net worth ratio of Equinor ASA to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Equinor ASA Capital Reinvestment Ratio (1998–2025)
This chart tracks Equinor ASA's Capital Reinvestment Ratio across 28 annual periods. For the full cash flow conversion analysis, see Equinor ASA cash flow conversion.
Annual Capital Reinvestment Ratio for Equinor ASA (1998–2025)
Year-by-year Capital Reinvestment Ratio for Equinor ASA from 1998 to 2025. See EQNR cash flow after capex ratio to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (NOK) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 0.70x | Nkr19.97 Billion | Nkr13.99 Billion | ▲ +15.7% |
| 2024 | 0.61x | Nkr20.11 Billion | Nkr12.18 Billion | ▲ +41.4% |
| 2023 | 0.43x | Nkr24.70 Billion | Nkr10.57 Billion | ▲ +71.8% |
| 2022 | 0.25x | Nkr35.14 Billion | Nkr8.76 Billion | ▼ -10.7% |
| 2021 | 0.28x | Nkr28.82 Billion | Nkr8.04 Billion | ▼ -65.8% |
| 2020 | 0.82x | Nkr10.39 Billion | Nkr8.48 Billion | ▲ +10.0% |
| 2019 | 0.74x | Nkr13.75 Billion | Nkr10.20 Billion | ▲ +28.6% |
| 2018 | 0.58x | Nkr19.69 Billion | Nkr11.37 Billion | ▼ -22.9% |
| 2017 | 0.75x | Nkr14.36 Billion | Nkr10.76 Billion | ▼ -44.5% |
| 2016 | 1.35x | Nkr9.03 Billion | Nkr12.19 Billion | ▲ +18.0% |
| 2015 | 1.14x | Nkr12.40 Billion | Nkr14.19 Billion | ▲ +18.0% |
| 2014 | 0.97x | Nkr17.01 Billion | Nkr16.49 Billion | ▼ -13.3% |
| 2013 | 1.12x | Nkr16.66 Billion | Nkr18.63 Billion | ▲ +27.4% |
| 2012 | 0.88x | Nkr22.93 Billion | Nkr20.13 Billion | ▲ +6.1% |
| 2011 | 0.83x | Nkr18.67 Billion | Nkr15.45 Billion | ▼ -14.6% |
| 2010 | 0.97x | Nkr13.75 Billion | Nkr13.32 Billion | ▼ -5.9% |
| 2009 | 1.03x | Nkr12.60 Billion | Nkr12.97 Billion | ▲ +52.2% |
| 2008 | 0.68x | Nkr14.73 Billion | Nkr9.97 Billion | ▼ -10.5% |
| 2007 | 0.76x | Nkr17.29 Billion | Nkr13.07 Billion | ▲ +9.7% |
| 2006 | 0.69x | Nkr9.77 Billion | Nkr6.73 Billion | ▲ +23.4% |
| 2005 | 0.56x | Nkr8.33 Billion | Nkr4.65 Billion | ▼ -31.9% |
| 2004 | 0.82x | Nkr6.43 Billion | Nkr5.27 Billion | ▲ +14.3% |
| 2003 | 0.72x | Nkr4.63 Billion | Nkr3.32 Billion | ▼ -3.9% |
| 2002 | 0.75x | Nkr3.46 Billion | Nkr2.58 Billion | ▲ +75.4% |
| 2001 | 0.43x | Nkr4.36 Billion | Nkr1.85 Billion | ▲ +39.5% |
| 2000 | 0.30x | Nkr6.40 Billion | Nkr1.95 Billion | ▼ -76.1% |
| 1999 | 1.28x | Nkr2.52 Billion | Nkr3.21 Billion | ▼ -42.0% |
| 1998 | 2.20x | Nkr1.32 Billion | Nkr2.91 Billion | — |