Equinor ASA (EQNR) — Free Cash Flow Generation Index
Equinor ASA (EQNR) has a Free Cash Flow Generation Index of 1.70x as of December 2025. Free cash flow of Nkr33.97 Billion represents 2% of operating cash flow (Nkr19.97 Billion). Explore Equinor ASA capex to cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Equinor ASA Free Cash Flow Generation Index (1998–2025)
Historical FCF Generation Index trend for Equinor ASA across 28 annual periods. For the full cash flow conversion analysis, see Equinor ASA cash flow conversion.
Annual Free Cash Flow Generation for Equinor ASA (1998–2025)
Year-by-year Free Cash Flow Generation Index for Equinor ASA. Check Equinor ASA cash flow reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (NOK) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 1.70x | Nkr33.97 Billion | Nkr19.97 Billion | Nkr13.99 Billion | ▲ +331.1% |
| 2024 | 0.39x | Nkr7.93 Billion | Nkr20.11 Billion | Nkr12.18 Billion | ▼ -31.0% |
| 2023 | 0.57x | Nkr14.13 Billion | Nkr24.70 Billion | Nkr10.57 Billion | ▼ -23.8% |
| 2022 | 0.75x | Nkr26.38 Billion | Nkr35.14 Billion | Nkr8.76 Billion | ▲ +4.1% |
| 2021 | 0.72x | Nkr20.78 Billion | Nkr28.82 Billion | Nkr8.04 Billion | ▲ +292.1% |
| 2020 | 0.18x | Nkr1.91 Billion | Nkr10.39 Billion | Nkr8.48 Billion | ▼ -28.7% |
| 2019 | 0.26x | Nkr3.54 Billion | Nkr13.75 Billion | Nkr10.20 Billion | ▼ -39.0% |
| 2018 | 0.42x | Nkr8.33 Billion | Nkr19.69 Billion | Nkr11.37 Billion | ▲ +68.3% |
| 2017 | 0.25x | Nkr3.61 Billion | Nkr14.36 Billion | Nkr10.76 Billion | ▲ +171.9% |
| 2016 | -0.35x | Nkr-3.16 Billion | Nkr9.03 Billion | Nkr12.19 Billion | ▼ -142.6% |
| 2015 | -0.14x | Nkr-1.79 Billion | Nkr12.40 Billion | Nkr14.19 Billion | ▼ -567.2% |
| 2014 | 0.03x | Nkr524.56 Million | Nkr17.01 Billion | Nkr16.49 Billion | ▲ +126.0% |
| 2013 | -0.12x | Nkr-1.97 Billion | Nkr16.66 Billion | Nkr18.63 Billion | ▼ -197.1% |
| 2012 | 0.12x | Nkr2.80 Billion | Nkr22.93 Billion | Nkr20.13 Billion | ▼ -29.3% |
| 2011 | 0.17x | Nkr3.22 Billion | Nkr18.67 Billion | Nkr15.45 Billion | ▲ +450.0% |
| 2010 | 0.03x | Nkr431.37 Million | Nkr13.75 Billion | Nkr13.32 Billion | ▲ +206.6% |
| 2009 | -0.03x | Nkr-370.84 Million | Nkr12.60 Billion | Nkr12.97 Billion | ▼ -109.1% |
| 2008 | 0.32x | Nkr4.77 Billion | Nkr14.73 Billion | Nkr9.97 Billion | ▲ +32.4% |
| 2007 | 0.24x | Nkr4.23 Billion | Nkr17.29 Billion | Nkr13.07 Billion | ▼ -21.5% |
| 2006 | 0.31x | Nkr3.04 Billion | Nkr9.77 Billion | Nkr6.73 Billion | ▼ -29.5% |
| 2005 | 0.44x | Nkr3.68 Billion | Nkr8.33 Billion | Nkr4.65 Billion | ▲ +144.8% |
| 2004 | 0.18x | Nkr1.16 Billion | Nkr6.43 Billion | Nkr5.27 Billion | ▼ -36.3% |
| 2003 | 0.28x | Nkr1.31 Billion | Nkr4.63 Billion | Nkr3.32 Billion | ▲ +11.3% |
| 2002 | 0.25x | Nkr880.00 Million | Nkr3.46 Billion | Nkr2.58 Billion | ▼ -55.8% |
| 2001 | 0.58x | Nkr2.51 Billion | Nkr4.36 Billion | Nkr1.85 Billion | ▼ -17.3% |
| 2000 | 0.70x | Nkr4.45 Billion | Nkr6.40 Billion | Nkr1.95 Billion | ▲ +352.0% |
| 1999 | -0.28x | Nkr-694.46 Million | Nkr2.52 Billion | Nkr3.21 Billion | ▲ +77.0% |
| 1998 | -1.20x | Nkr-1.59 Billion | Nkr1.32 Billion | Nkr2.91 Billion | — |