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Equinor Asa vs Marathon Petroleum: revenue, profit, margins and growth compared

Equinor Asa brought in $106.5B of revenue in fiscal 2025, Marathon Petroleum $132.7B in fiscal 2025. Revenue changed by +2.6% at Equinor Asa and -4.4% at Marathon Petroleum on the year before, so Equinor Asa grew faster. Equinor Asa kept 4.7% of its revenue as net profit, Marathon Petroleum 3.0%. Free cash flow was $6B at Equinor Asa and $4.8B at Marathon Petroleum.

Side by side, latest fiscal year

EQNRMPC
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$106.5B$132.7B
Revenue growth+2.6%-4.4%
Net income$5B$4B
Net margin4.7%3.0%
Free cash flow$6B$4.8B
Free cash flow margin5.6%3.6%
Earnings per share (diluted)$1.94$13.22
Cash$5B$3.7B
Debtn/a$33.3B
Price to earningsn/a29.5
Market value$105.7B$109.4B
Dividend yieldn/a0.96%
Rank by revenue in sector#8 of 163 · Energy#5 of 163 · Energy

Over the years

Revenue
EQNR FY2018: $79.6BEQNR FY2019: $64.4BEQNR FY2020: $45.8BEQNR FY2021: $90.9BEQNR FY2022: $150.8BEQNR FY2023: $107.2BEQNR FY2024: $103.8BEQNR FY2025: $106.5BMPC FY2018: $86.1BMPC FY2019: $111.1BMPC FY2020: $69.8BMPC FY2021: $120BMPC FY2022: $177.5BMPC FY2023: $148.4BMPC FY2024: $138.9BMPC FY2025: $132.7BFY18FY19FY20FY21FY22FY23FY24FY25
EQNR $106.5BMPC $132.7B
Net income
EQNR FY2018: $7.5BEQNR FY2019: $1.8BEQNR FY2020: -$5.5BEQNR FY2021: $8.6BEQNR FY2022: $28.7BEQNR FY2023: $11.9BEQNR FY2024: $8.8BEQNR FY2025: $5BMPC FY2018: $2.8BMPC FY2019: $2.6BMPC FY2020: -$9.8BMPC FY2021: $9.7BMPC FY2022: $14.5BMPC FY2023: $9.7BMPC FY2024: $3.4BMPC FY2025: $4BFY18FY19FY20FY21FY22FY23FY24FY25
EQNR $5BMPC $4B
Net margin
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%MPC FY2018: 3.2%MPC FY2019: 2.4%MPC FY2020: -14.1%MPC FY2021: 8.1%MPC FY2022: 8.2%MPC FY2023: 6.5%MPC FY2024: 2.5%MPC FY2025: 3.0%FY18FY19FY20FY21FY22FY23FY24FY25
EQNR 4.7%MPC 3.0%
Revenue growth
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%MPC FY2019: +29.1%MPC FY2020: -37.2%MPC FY2021: +71.9%MPC FY2022: +47.9%MPC FY2023: -16.4%MPC FY2024: -6.4%MPC FY2025: -4.4%FY19FY20FY21FY22FY23FY24FY25
EQNR +2.6%MPC -4.4%
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: $6BMPC FY2018: $3BMPC FY2019: $4.6BMPC FY2020: -$368MMPC FY2021: $2.9BMPC FY2022: $13.9BMPC FY2023: $12.2BMPC FY2024: $6.1BMPC FY2025: $4.8BFY18FY19FY20FY21FY22FY23FY24FY25
EQNR $6BMPC $4.8B

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

Questions about Equinor Asa and Marathon Petroleum

Which is bigger by revenue, Equinor Asa or Marathon Petroleum?

Marathon Petroleum is bigger by revenue: $132.7B in fiscal 2025, against $106.5B for Equinor Asa in fiscal 2025.

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

Equinor Asa had a net margin of 4.7% in fiscal 2025; Marathon Petroleum had 3.0% in fiscal 2025.

Which grew revenue faster, Equinor Asa or Marathon Petroleum?

In their latest fiscal years revenue changed by +2.6% at Equinor Asa and -4.4% at Marathon Petroleum.

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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