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

Equinor Asa brought in $106.5B of revenue in fiscal 2025, TotalEnergies $201.2B in fiscal 2025. Revenue changed by +2.6% at Equinor Asa and -6.2% at TotalEnergies on the year before, so Equinor Asa grew faster. Equinor Asa kept 4.7% of its revenue as net profit, TotalEnergies 6.5%.

Side by side, latest fiscal year

EQNRTTE
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$106.5B$201.2B
Revenue growth+2.6%-6.2%
Net income$5B$13.1B
Net margin4.7%6.5%
Free cash flow$6Bn/a
Free cash flow margin5.6%n/a
Earnings per share (diluted)$1.94$5.78
Cash$5B$26.2B
Debtn/an/a
Price to earningsn/an/a
Market value$109.9B$192.8B
Dividend yieldn/an/a
Rank by revenue in sector#8 of 163 · Energy#2 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: $106.5BTTE FY2018: $209.4BTTE FY2019: $200.3BTTE FY2020: $140.7BTTE FY2021: $205.9BTTE FY2022: $281BTTE FY2023: $237.1BTTE FY2024: $214.6BTTE FY2025: $201.2BFY18FY19FY20FY21FY22FY23FY24FY25
EQNR $106.5BTTE $201.2B
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: $5BTTE FY2018: $11.4BTTE FY2019: $11.3BTTE FY2020: -$7.2BTTE FY2021: $16BTTE FY2022: $20.5BTTE FY2023: $21.4BTTE FY2024: $15.8BTTE FY2025: $13.1BFY18FY19FY20FY21FY22FY23FY24FY25
EQNR $5BTTE $13.1B
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%TTE FY2018: 5.5%TTE FY2019: 5.6%TTE FY2020: -5.1%TTE FY2021: 7.8%TTE FY2022: 7.3%TTE FY2023: 9.0%TTE FY2024: 7.3%TTE FY2025: 6.5%FY18FY19FY20FY21FY22FY23FY24FY25
EQNR 4.7%TTE 6.5%
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%TTE FY2019: -4.3%TTE FY2020: -29.8%TTE FY2021: +46.3%TTE FY2022: +36.5%TTE FY2023: -15.6%TTE FY2024: -9.5%TTE FY2025: -6.2%FY19FY20FY21FY22FY23FY24FY25
EQNR +2.6%TTE -6.2%
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
EQNR $6BTTE

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

Questions about Equinor Asa and TotalEnergies

Which is bigger by revenue, Equinor Asa or TotalEnergies?

TotalEnergies is bigger by revenue: $201.2B in fiscal 2025, against $106.5B for Equinor Asa in fiscal 2025.

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

Equinor Asa had a net margin of 4.7% in fiscal 2025; TotalEnergies had 6.5% in fiscal 2025.

Which grew revenue faster, Equinor Asa or TotalEnergies?

In their latest fiscal years revenue changed by +2.6% at Equinor Asa and -6.2% at TotalEnergies.

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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