Equinor ASA (EQNR) — Cash Flow-to-Debt Ratio
Equinor ASA (EQNR) has a Cash Flow-to-Debt Ratio of 0.22x as of December 2025, meaning its operating cash flow of Nkr19.97 Billion could theoretically repay 0% of its total liabilities (Nkr91.30 Billion) in one year. See Equinor ASA financial flexibility index to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Equinor ASA Cash Flow-to-Debt Ratio (1998–2024)
Historical debt coverage capacity for Equinor ASA across 27 annual periods. For the full cash flow conversion analysis, see Equinor ASA cash conversion from operations.
Annual Cash Flow-to-Debt Ratio for Equinor ASA (1998–2024)
Year-by-year debt coverage analysis for Equinor ASA. Check Equinor ASA (EQNR) cash flow quality to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (NOK) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2024 | 0.23x | Nkr20.11 Billion | Nkr88.76 Billion | ▼ -12.8% |
| 2023 | 0.26x | Nkr24.70 Billion | Nkr95.08 Billion | ▼ -23.1% |
| 2022 | 0.34x | Nkr35.14 Billion | Nkr104.03 Billion | ▲ +26.7% |
| 2021 | 0.27x | Nkr28.82 Billion | Nkr108.10 Billion | ▲ +126.1% |
| 2020 | 0.12x | Nkr10.39 Billion | Nkr88.08 Billion | ▼ -34.0% |
| 2019 | 0.18x | Nkr13.75 Billion | Nkr76.90 Billion | ▼ -36.9% |
| 2018 | 0.28x | Nkr19.69 Billion | Nkr69.52 Billion | ▲ +40.5% |
| 2017 | 0.20x | Nkr14.36 Billion | Nkr71.22 Billion | ▲ +55.0% |
| 2016 | 0.13x | Nkr9.03 Billion | Nkr69.43 Billion | ▼ -27.0% |
| 2015 | 0.18x | Nkr12.40 Billion | Nkr69.58 Billion | ▼ -14.7% |
| 2014 | 0.21x | Nkr17.01 Billion | Nkr81.40 Billion | ▲ +9.3% |
| 2013 | 0.19x | Nkr16.66 Billion | Nkr87.08 Billion | ▼ -30.6% |
| 2012 | 0.28x | Nkr22.93 Billion | Nkr83.20 Billion | ▲ +19.5% |
| 2011 | 0.23x | Nkr18.67 Billion | Nkr81.00 Billion | ▲ +18.9% |
| 2010 | 0.19x | Nkr13.75 Billion | Nkr70.87 Billion | ▼ -3.6% |
| 2009 | 0.20x | Nkr12.60 Billion | Nkr62.59 Billion | ▼ -28.9% |
| 2008 | 0.28x | Nkr14.73 Billion | Nkr52.07 Billion | ▼ -8.4% |
| 2007 | 0.31x | Nkr17.29 Billion | Nkr55.99 Billion | ▼ -2.8% |
| 2006 | 0.32x | Nkr9.77 Billion | Nkr30.76 Billion | ▼ -0.1% |
| 2005 | 0.32x | Nkr8.33 Billion | Nkr26.20 Billion | ▲ +32.4% |
| 2004 | 0.24x | Nkr6.43 Billion | Nkr26.78 Billion | ▲ +16.9% |
| 2003 | 0.21x | Nkr4.63 Billion | Nkr22.55 Billion | ▲ +25.6% |
| 2002 | 0.16x | Nkr3.46 Billion | Nkr21.15 Billion | ▼ -38.9% |
| 2001 | 0.27x | Nkr4.36 Billion | Nkr16.30 Billion | ▼ -28.0% |
| 2000 | 0.37x | Nkr6.40 Billion | Nkr17.23 Billion | ▲ +133.1% |
| 1999 | 0.16x | Nkr2.52 Billion | Nkr15.78 Billion | ▲ +59.4% |
| 1998 | 0.10x | Nkr1.32 Billion | Nkr13.22 Billion | — |