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BP vs Equinor Asa: revenue, profit, margins and growth compared

BP brought in $192.5B of revenue in fiscal 2025, Equinor Asa $106.5B in fiscal 2025. Revenue changed by -1.1% at BP and +2.6% at Equinor Asa on the year before, so Equinor Asa grew faster. BP kept 0.0% of its revenue as net profit, Equinor Asa 4.7%.

Side by side, latest fiscal year

BPEQNR
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$192.5B$106.5B
Revenue growth-1.1%+2.6%
Net income$55M$5B
Net margin0.0%4.7%
Free cash flown/a$6B
Free cash flow marginn/a5.6%
Earnings per share (diluted)n/a$1.94
Cash$36.6B$5B
Debt$58Bn/a
Price to earningsn/an/a
Market value$116.9B$105.7B
Dividend yieldn/an/a
Rank by revenue in sector#3 of 163 · Energy#8 of 163 · Energy

Over the years

Revenue
BP FY2018: $303.7BBP FY2019: $163.5BBP FY2020: $109.1BBP FY2021: $164.2BBP FY2022: $248.9BBP FY2023: $213BBP FY2024: $194.6BBP FY2025: $192.5BEQNR FY2018: $79.6BEQNR FY2019: $64.4BEQNR FY2020: $45.8BEQNR FY2021: $90.9BEQNR FY2022: $150.8BEQNR FY2023: $107.2BEQNR FY2024: $103.8BEQNR FY2025: $106.5BFY18FY19FY20FY21FY22FY23FY24FY25
BP $192.5BEQNR $106.5B
Net income
BP FY2018: $9.4BBP FY2019: $4BBP FY2020: -$20.3BBP FY2021: $7.6BBP FY2022: -$2.5BBP FY2023: $15.2BBP FY2024: $381MBP FY2025: $55MEQNR FY2018: $7.5BEQNR FY2019: $1.8BEQNR FY2020: -$5.5BEQNR FY2021: $8.6BEQNR FY2022: $28.7BEQNR FY2023: $11.9BEQNR FY2024: $8.8BEQNR FY2025: $5BFY18FY19FY20FY21FY22FY23FY24FY25
BP $55MEQNR $5B
Net margin
BP FY2018: 3.1%BP FY2019: 2.5%BP FY2020: -18.6%BP FY2021: 4.6%BP FY2022: -1.0%BP FY2023: 7.2%BP FY2024: 0.2%BP FY2025: 0.0%EQNR FY2018: 9.5%EQNR FY2019: 2.9%EQNR FY2020: -12.0%EQNR FY2021: 9.4%EQNR FY2022: 19.1%EQNR FY2023: 11.1%EQNR FY2024: 8.5%EQNR FY2025: 4.7%FY18FY19FY20FY21FY22FY23FY24FY25
BP 0.0%EQNR 4.7%
Revenue growth
BP FY2019: -46.2%BP FY2020: -33.3%BP FY2021: +50.5%BP FY2022: +51.6%BP FY2023: -14.4%BP FY2024: -8.6%BP FY2025: -1.1%EQNR FY2019: -19.1%EQNR FY2020: -28.8%EQNR FY2021: +98.4%EQNR FY2022: +65.9%EQNR FY2023: -28.9%EQNR FY2024: -3.2%EQNR FY2025: +2.6%FY19FY20FY21FY22FY23FY24FY25
BP -1.1%EQNR +2.6%
Free cash flow
EQNR FY2018: $8.3BEQNR FY2019: $3.5BEQNR FY2020: $1.9BEQNR FY2021: $20.8BEQNR FY2022: $26.4BEQNR FY2023: $18.7BEQNR FY2024: $7.3BEQNR FY2025: $6BFY18FY19FY20FY21FY22FY23FY24FY25
BPEQNR $6B

Fiscal years as each company reports them; the two may end in different months.

Questions about BP and Equinor Asa

Which is bigger by revenue, BP or Equinor Asa?

BP is bigger by revenue: $192.5B in fiscal 2025, against $106.5B for Equinor Asa in fiscal 2025.

Which keeps more of its revenue as profit, BP or Equinor Asa?

BP had a net margin of 0.0% in fiscal 2025; Equinor Asa had 4.7% in fiscal 2025.

Which grew revenue faster, BP or Equinor Asa?

In their latest fiscal years revenue changed by -1.1% at BP and +2.6% at Equinor Asa.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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