EQNR vs. MPC: Equinor vs. Marathon Petroleum Stock Comparison

November 11, 2026

How do Equinor (EQNR) and Marathon Petroleum (MPC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Equinor (EQNR) and Marathon Petroleum (MPC) both belong to the Oil, Gas & Consumable Fuels industry, though EQNR is classified under Integrated Oil & Gas while MPC falls under Oil & Gas Refining & Marketing.

Marathon Petroleum (MPC) trades as ordinary local shares, while Equinor (EQNR) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for Equinor (EQNR) and Marathon Petroleum (MPC)
Profile Item	EQNR	MPC
Name	Equinor ASA Sponsored ADR	Marathon Petroleum Corp.
Country/Region	Norway	United States
GICS Sector	Energy	Energy
GICS Industry Group	Energy	Energy
GICS Industry	Oil, Gas & Consumable Fuels	Oil, Gas & Consumable Fuels
GICS Sub-Industry	Integrated Oil & Gas	Oil & Gas Refining & Marketing
Market Capitalization	99.39 billion USD	101.49 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	June 18, 2001	June 24, 2011
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

EQNR

MPC

GSPC

Equinor (EQNR) vs. Marathon Petroleum (MPC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Equinor (EQNR) and Marathon Petroleum (MPC). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Equinor (EQNR) and Marathon Petroleum (MPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
Total Return (1Y)	78.03%	104.94%
Total Return (3Y, Annualized)	17.56%	42.97%
Total Return (5Y, Annualized)	17.66%	45.42%

Risk Profile

Drawdown History

EQNR

MPC

GSPC

Equinor (EQNR) vs. Marathon Petroleum (MPC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Equinor (EQNR) and Marathon Petroleum (MPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
Volatility (1Y, Annualized)	40.50%	37.53%
Beta (5Y)	0.18	0.56
Max Drawdown (5Y)	-34.57%	-44.75%
Avg. Volume (3M)	3.77M	2.56M

Risk-Adjusted Performance

Risk-Return Positioning

EQNR and MPC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
Sharpe Ratio (1Y)	1.82	2.68
Sortino Ratio (1Y)	2.76	4.10

Profitability

ROE (TTM)

Both companies show strong equity returns, but Marathon Petroleum (MPC) at 60.46% is the standout with ROE above its industry range; Equinor (EQNR) at 27.57% also sits in the top quartile.

EQNR

Energy industry group

27.57%

Max: 53.85%
EQNR: 27.57%
Q3: 24.79%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

MPC

Energy industry group

60.46%

MPC: 60.46%
Max: 53.85%
Q3: 24.79%
Median: 12.85%
Q1: 2.03%
Min: -29.09%

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

Both Equinor (EQNR) at 9.79% and Marathon Petroleum (MPC) at 8.34% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

EQNR

Energy industry group

9.79%

Max: 56.92%
Q3: 22.92%
Median: 10.10%
EQNR: 9.79%
Q1: 0.07%
Min: -27.38%

MPC

Energy industry group

8.34%

Max: 56.92%
Q3: 22.92%
Median: 10.10%
MPC: 8.34%
Q1: 0.07%
Min: -27.38%

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their net margin against the Energy industry group benchmark.

Operating Margin (TTM)

Equinor (EQNR) at 37.00% operates in the top operating margin quartile, ahead of Marathon Petroleum (MPC) at 17.98%, which runs around its industry’s norm.

EQNR

Energy industry group

37.00%

Max: 71.31%
EQNR: 37.00%
Q3: 33.75%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

MPC

Energy industry group

17.98%

Max: 71.31%
Q3: 33.75%
Median: 18.73%
MPC: 17.98%
Q1: 6.94%
Min: -24.52%

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
ROE (TTM)	27.57%	60.46%
ROA (TTM)	17.10%	13.75%
Net Margin (TTM)	9.79%	8.34%
Operating Margin (TTM)	37.00%	17.98%
Gross Margin (TTM)	43.18%	16.20%

Growth

Revenue Growth

Both Equinor (EQNR) at 3.24% and Marathon Petroleum (MPC) at -4.44% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Marathon Petroleum (MPC) at 31.15% sits in the top EPS growth quartile, while Equinor (EQNR) at -37.62% is closer to the peer norm — faster per-share earnings growth for MPC.

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
Revenue Growth (YoY)	3.24%	-4.44%
Revenue Growth (3Y CAGR)	-10.78%	-9.23%
EPS Growth (YoY)	-37.62%	31.15%
EPS Growth (3Y CAGR)	-40.11%	-22.24%

Financial Strength

Current Ratio (MRQ)

Both Equinor (EQNR) at 1.18 and Marathon Petroleum (MPC) at 1.45 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

EQNR

Energy industry group

1.18

Max: 3.64
Q3: 2.21
Median: 1.41
EQNR: 1.18
Q1: 0.88
Min: 0.24

MPC

Energy industry group

1.45

Max: 3.64
Q3: 2.21
MPC: 1.45
Median: 1.41
Q1: 0.88
Min: 0.24

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Equinor (EQNR) at 0.66 carries an industry-typical debt-to-equity mix, while Marathon Petroleum (MPC) at 1.15 uses more debt funding than most peers.

EQNR

Energy industry group

0.66

Max: 1.75
Q3: 0.93
EQNR: 0.66
Median: 0.54
Q1: 0.30
Min: 0.00

MPC

Energy industry group

1.15

Max: 1.75
MPC: 1.15
Q3: 0.93
Median: 0.54
Q1: 0.30
Min: 0.00

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their debt-to-equity ratio against the Energy industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
Current Ratio (MRQ)	1.18	1.45
Debt / Equity (MRQ)	0.66	1.15
Net Debt / EBITDA	0.12	0.88

Dividends

Dividend Yield (TTM)

Equinor (EQNR) at 3.67% delivers top-quartile income for its industry, while Marathon Petroleum (MPC) at 1.09% pays a more typical yield — both are credible income propositions, EQNR the richer one.

EQNR

Energy industry group

3.67%

Max: 8.57%
EQNR: 3.67%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

MPC

Energy industry group

1.09%

Max: 8.57%
Q3: 3.58%
Median: 1.71%
MPC: 1.09%
Q1: 0.00%
Min: 0.00%

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Both Equinor (EQNR) at 31.54% and Marathon Petroleum (MPC) at 7.93% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

EQNR

Energy industry group

31.54%

Max: 133.24%
Q3: 53.31%
EQNR: 31.54%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

MPC

Energy industry group

7.93%

Max: 133.24%
Q3: 53.31%
Median: 25.24%
MPC: 7.93%
Q1: 0.00%
Min: 0.00%

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
Dividend Yield (TTM)	3.67%	1.09%
Dividend Payout Ratio (TTM)	31.54%	7.93%

Valuation

P/E Ratio (TTM)

Marathon Petroleum (MPC) at 7.39 sits in the cheaper P/E ratio quartile, while Equinor (EQNR) at 8.71 is closer to its industry’s usual earnings multiple — a discount for MPC, though growth and earnings durability still matter.

EQNR

Energy industry group

8.71

Max: 39.54
Q3: 21.72
Median: 12.19
EQNR: 8.71
Q1: 7.71
Min: 2.99

MPC

Energy industry group

7.39

Max: 39.54
Q3: 21.72
Median: 12.19
Q1: 7.71
MPC: 7.39
Min: 2.99

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their P/E ratio against the Energy industry group benchmark.

P/S Ratio (TTM)

Both Equinor (EQNR) at 0.82 and Marathon Petroleum (MPC) at 0.58 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

EQNR

Energy industry group

0.82

Max: 5.40
Q3: 2.85
Median: 1.69
Q1: 0.88
EQNR: 0.82
Min: 0.00

MPC

Energy industry group

0.58

Max: 5.40
Q3: 2.85
Median: 1.69
Q1: 0.88
MPC: 0.58
Min: 0.00

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their P/S ratio against the Energy industry group benchmark.

P/B Ratio (MRQ)

Measured against book value, both Equinor (EQNR) at 4.44 and Marathon Petroleum (MPC) at 4.42 look expensive — each P/B ratio sits above its industry’s benchmark range.

EQNR

Energy industry group

4.44

EQNR: 4.44
Max: 4.21
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

MPC

Energy industry group

4.42

MPC: 4.42
Max: 4.21
Q3: 2.38
Median: 1.51
Q1: 1.08
Min: 0.01

Equinor (EQNR) vs. Marathon Petroleum (MPC): A comparison of their P/B ratio against the Energy industry group benchmark.

Valuation Metrics

Valuation metrics for Equinor (EQNR) and Marathon Petroleum (MPC)
Metric	EQNR	MPC
P/E Ratio (TTM)	8.71	7.39
P/S Ratio (TTM)	0.82	0.58
P/B Ratio (MRQ)	4.44	4.42
Free Cash Flow Yield (TTM)	32.55%	16.00%