Equinor ASA (EQNR) — Free Cash Flow Generation Index
Latest as of December 2025:
1.70x
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). See EQNR working capital ratio to evaluate short-term liquidity relative to the company's equity base.
FCF Generation Index
1.70x
Free Cash Flow / Operating CF
Free Cash Flow
Nkr33.97 Billion
NOK
Operating Cash Flow
Nkr19.97 Billion
NOK
Capital Expenditures
Nkr13.99 Billion
NOK
Equinor ASA Free Cash Flow Generation Index (1998–2025)
Historical FCF Generation Index trend for Equinor ASA across 28 annual periods. Explore cash flow to debt ratio of Equinor ASA to assess how comfortably operating cash covers total debt obligations.
Annual Free Cash Flow Generation for Equinor ASA (1998–2025)
Year-by-year Free Cash Flow Generation Index for Equinor ASA. For the full company profile including market capitalisation, see EQNR stock market capitalisation.
| 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 | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).