Equinor hits multi-year high market cap with strong cash flow and 3% production growth

Equinor achieved a multi-year high market capitalization exceeding $100 billion, driven by strong oil prices and disciplined portfolio management. The company reported $11.5 billion in operating income and $4.8 billion in net income, maintaining a mid-single-digit price-to-earnings ratio that signals financial strength. Production increased by 3% year-over-year to 2.165 million barrels per day, with the Norwegian Continental Shelf (NCS) outperforming. Equinor also returned over 6% to shareholders through dividends and buybacks, supported by a 16% free cash flow yield, $24 billion in cash reserves, and a low net debt ratio of 10.4%, positioning it well for continued capital returns and modest production growth.