EQNR vs. WDS: Equinor vs. Woodside Energy Stock Comparison

November 11, 2026

How do Equinor (EQNR) and Woodside Energy (WDS) 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 Woodside Energy (WDS) both belong to the Oil, Gas & Consumable Fuels industry, though EQNR is classified under Integrated Oil & Gas while WDS falls under Oil & Gas Exploration & Production.

Both Equinor (EQNR) and Woodside Energy (WDS) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Company profile comparison for Equinor (EQNR) and Woodside Energy (WDS)
Profile Item	EQNR	WDS
Name	Equinor ASA Sponsored ADR	Woodside Energy Group Ltd ADR
Country/Region	Norway	Australia
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 Exploration & Production
Market Capitalization	99.39 billion USD	40.00 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	June 18, 2001	November 18, 1996
Security Type	ADR	ADR

Price Performance

Cumulative Growth

EQNR

WDS

GSPC

Equinor (EQNR) vs. Woodside Energy (WDS), 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

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Trailing total returns for Equinor (EQNR) and Woodside Energy (WDS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Equinor (EQNR) and Woodside Energy (WDS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Equinor (EQNR) and Woodside Energy (WDS)
Metric	EQNR	WDS
Total Return (1Y)	78.03%	30.30%
Total Return (3Y, Annualized)	17.56%	5.67%
Total Return (5Y, Annualized)	17.66%	11.65%

Risk Profile

Drawdown History

EQNR

WDS

GSPC

Equinor (EQNR) vs. Woodside Energy (WDS), 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

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

Risk Metrics

Risk profile metrics for Equinor (EQNR) and Woodside Energy (WDS)
Metric	EQNR	WDS
Volatility (1Y, Annualized)	40.50%	33.53%
Beta (5Y)	0.18	0.38
Max Drawdown (5Y)	-34.57%	-48.77%
Avg. Volume (3M)	3.77M	570.04K

Risk-Adjusted Performance

Risk-Return Positioning

EQNR and WDS 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 Woodside Energy (WDS)
Metric	EQNR	WDS
Sharpe Ratio (1Y)	1.82	0.78
Sortino Ratio (1Y)	2.76	1.11

Profitability

ROE (TTM)

Equinor (EQNR) at 27.57% sits in the top ROE quartile, while Woodside Energy (WDS) at 7.68% is closer to the peer norm — stronger capital efficiency for EQNR.

EQNR

Energy industry group

27.57%

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

WDS

Energy industry group

7.68%

Max: 53.85%
Q3: 24.79%
Median: 12.85%
WDS: 7.68%
Q1: 2.03%
Min: -29.09%

Equinor (EQNR) vs. Woodside Energy (WDS): A comparison of their ROE against the Energy industry group benchmark.

Net Margin (TTM)

Both Equinor (EQNR) at 9.79% and Woodside Energy (WDS) at 22.21% 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%

WDS

Energy industry group

22.21%

Max: 56.92%
Q3: 22.92%
WDS: 22.21%
Median: 10.10%
Q1: 0.07%
Min: -27.38%

Equinor (EQNR) vs. Woodside Energy (WDS): 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 Woodside Energy (WDS) at 23.91%, 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%

WDS

Energy industry group

23.91%

Max: 71.31%
Q3: 33.75%
WDS: 23.91%
Median: 18.73%
Q1: 6.94%
Min: -24.52%

Equinor (EQNR) vs. Woodside Energy (WDS): A comparison of their operating margin against the Energy industry group benchmark.

Profitability Metrics

Profitability metrics for Equinor (EQNR) and Woodside Energy (WDS)
Metric	EQNR	WDS
ROE (TTM)	27.57%	7.68%
ROA (TTM)	17.10%	2.83%
Net Margin (TTM)	9.79%	22.21%
Operating Margin (TTM)	37.00%	23.91%
Gross Margin (TTM)	43.18%	34.92%

Growth

Revenue Growth

Both Equinor (EQNR) at 3.24% and Woodside Energy (WDS) at -1.48% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Equinor (EQNR) vs. Woodside Energy (WDS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Equinor (EQNR) at -37.62% and Woodside Energy (WDS) at -24.02% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

Equinor (EQNR) vs. Woodside Energy (WDS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Equinor (EQNR) and Woodside Energy (WDS)
Metric	EQNR	WDS
Revenue Growth (YoY)	3.24%	-1.48%
Revenue Growth (3Y CAGR)	-10.78%	-8.26%
EPS Growth (YoY)	-37.62%	-24.02%
EPS Growth (3Y CAGR)	-40.11%	-30.68%

Financial Strength

Current Ratio (MRQ)

Both Equinor (EQNR) at 1.18 and Woodside Energy (WDS) at 1.39 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

WDS

Energy industry group

1.39

Max: 3.64
Q3: 2.21
Median: 1.41
WDS: 1.39
Q1: 0.88
Min: 0.24

Equinor (EQNR) vs. Woodside Energy (WDS): A comparison of their current ratio against the Energy industry group benchmark.

Debt / Equity (MRQ)

Both Equinor (EQNR) at 0.66 and Woodside Energy (WDS) at 0.33 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

EQNR

Energy industry group

0.66

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

WDS

Energy industry group

0.33

Max: 1.75
Q3: 0.93
Median: 0.54
WDS: 0.33
Q1: 0.30
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Equinor (EQNR) and Woodside Energy (WDS)
Metric	EQNR	WDS
Current Ratio (MRQ)	1.18	1.39
Debt / Equity (MRQ)	0.66	0.33
Net Debt / EBITDA	0.12	1.15

Dividends

Dividend Yield (TTM)

Both Equinor (EQNR) at 3.67% and Woodside Energy (WDS) at 5.41% offer top-quartile dividend income relative to share price within their industries.

EQNR

Energy industry group

3.67%

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

WDS

Energy industry group

5.41%

Max: 8.57%
WDS: 5.41%
Q3: 3.58%
Median: 1.71%
Q1: 0.00%
Min: 0.00%

Equinor (EQNR) vs. Woodside Energy (WDS): A comparison of their dividend yield against the Energy industry group benchmark.

Dividend Payout Ratio (TTM)

Equinor (EQNR) at 31.54% pays out a band-typical share of earnings, while Woodside Energy (WDS) at 69.78% distributes more than its industry norm — less retained, thinner cover.

EQNR

Energy industry group

31.54%

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

WDS

Energy industry group

69.78%

Max: 133.24%
WDS: 69.78%
Q3: 53.31%
Median: 25.24%
Q1: 0.00%
Min: 0.00%

Equinor (EQNR) vs. Woodside Energy (WDS): A comparison of their payout ratio against the Energy industry group benchmark.

Dividend Metrics

Dividend metrics for Equinor (EQNR) and Woodside Energy (WDS)
Metric	EQNR	WDS
Dividend Yield (TTM)	3.67%	5.41%
Dividend Payout Ratio (TTM)	31.54%	69.78%

Valuation

P/E Ratio (TTM)

Both Equinor (EQNR) at 8.71 and Woodside Energy (WDS) at 13.15 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

EQNR

Energy industry group

8.71

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

WDS

Energy industry group

13.15

Max: 39.54
Q3: 21.72
WDS: 13.15
Median: 12.19
Q1: 7.71
Min: 2.99

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

P/S Ratio (TTM)

Equinor (EQNR) at 0.82 looks cheap on sales in the lower P/S ratio quartile, while Woodside Energy (WDS) at 2.89 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

EQNR

Energy industry group

0.82

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

WDS

Energy industry group

2.89

Max: 5.40
WDS: 2.89
Q3: 2.85
Median: 1.69
Q1: 0.88
Min: 0.00

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

P/B Ratio (MRQ)

Woodside Energy (WDS) at 1.11 sits near its industry’s typical P/B ratio, while Equinor (EQNR) at 4.44 prices above its benchmark range — EQNR looks rich relative to book.

EQNR

Energy industry group

4.44

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

WDS

Energy industry group

1.11

Max: 4.21
Q3: 2.38
Median: 1.51
WDS: 1.11
Q1: 1.08
Min: 0.01

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

Valuation Metrics

Valuation metrics for Equinor (EQNR) and Woodside Energy (WDS)
Metric	EQNR	WDS
P/E Ratio (TTM)	8.71	13.15
P/S Ratio (TTM)	0.82	2.89
P/B Ratio (MRQ)	4.44	1.11
Free Cash Flow Yield (TTM)	32.55%	1.41%