Saudi Aramco vs Equinor ASA: Fair Value & Quality
Both stocks run through our valuation models. Here is how Saudi Aramco (2222) and Equinor ASA (EQNR) compare, as of Sep 25, 2026.
Head-to-head numbers
Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.
betterweakerfor reference, not scored
Saudi Aramco leads: 9 to 5 metric wins.
n/a = not meaningfully computable, for example with negative equity.
Quality in detail
The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.
What the models say
How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.
▲above the price, more than 15% above ●close to the price, 85% to 115% of the price ▼below the price, more than 15% below
| Model family | Saudi AramcoPrice SAR 25.78 | Equinor ASAPrice NOK 416 |
|---|---|---|
| DCF Models | ▼-23%below the priceSAR 19.97 | ▼-91%below the priceNOK 36.69 |
| Earnings-Based | ▼-26%below the priceSAR 18.95 | ▼-94%below the priceNOK 25.78 |
| Dividend Discount | ▼-26%below the priceSAR 19.16 | ▼-92%below the priceNOK 33.82 |
| Multiples | ▼-39%below the priceSAR 15.62 | ▼-90%below the priceNOK 40.80 |
| Asset-Based | ▼-84%below the priceSAR 4.13 | ▼-97%below the priceNOK 11.39 |
| Growth DCF | ▼-35%below the priceSAR 16.84 | ▼-91%below the priceNOK 39.06 |
| Economic Profit | ▼-40%below the priceSAR 15.52 | ▼-91%below the priceNOK 38.93 |
| Growth Earnings | ▼-37%below the priceSAR 16.30 | ▼-94%below the priceNOK 26.48 |
| Minimum | ▼-84%below the priceSAR 4.13 | ▼-97%below the priceNOK 11.39 |
| Maximum | ▼-23%below the priceSAR 19.97 | ▼-90%below the priceNOK 40.80 |
| Median | ▼-36%below the priceSAR 16.57 | ▼-92%below the priceNOK 35.25 |
| Geometric mean | ▼-44%below the priceSAR 14.53 | ▼-93%below the priceNOK 29.66 |
Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.
Saudi Aramco: 24 of 25 models see the stock below the current price.
Equinor ASA: 26 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.
Compare two other stocks
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Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Saudi Aramco · Energy
Equinor ASA · Energy
Bottom line
As of Sep 25, 2026, Fair Value Calculator sees Equinor ASA as the less overvalued of the two: Saudi Aramco trades at SAR 25.78 versus a fair value of SAR 20.14 (-22%), while Equinor ASA trades at NOK 416 versus NOK 342 (-18%).
Saudi Aramco has the higher quality score (74/100).
Open Equinor ASA live analysis →More comparisons
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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.