EQNR vs. PEP

Last updated Apr 2, 2026

Compare and contrast key facts about Equinor ASA (EQNR) and PepsiCo, Inc. (PEP).

Performance

EQNR vs. PEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Equinor ASA (EQNR) and PepsiCo, Inc. (PEP). The values are adjusted to include any dividend payments, if applicable.

EQNR vs. PEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EQNR Equinor ASA	73.21%	7.70%	-15.98%	-0.78%	40.77%	64.55%	-13.57%	-0.99%	-21.06%
PEP PepsiCo, Inc.	8.72%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	16.59%

Fundamentals

Market Cap EQNR : $101.70B PEP : $212.03B
EPS EQNR : $1.94 PEP : $6.00
PE Ratio EQNR : 20.77 PEP : 25.76
PEG Ratio EQNR : 0.65 PEP : 9.14
PS Ratio EQNR : 0.99 PEP : 2.26
PB Ratio EQNR : 2.52 PEP : 10.39
Total Revenue (TTM) EQNR : $105.80B PEP : $93.93B
Gross Profit (TTM) EQNR : $28.50B PEP : $50.86B
EBITDA (TTM) EQNR : $36.46B PEP : $14.39B

Returns By Period

In the year-to-date period, EQNR achieves a 73.21% return, which is significantly higher than PEP's 8.72% return.

EQNR

• 1D: -4.29%
• 1M: 25.94%
• YTD: 73.21%
• 6M: 69.08%
• 1Y: 59.26%
• 3Y*: 23.93%
• 5Y*: 24.45%
• 10Y*: —

PEP

• 1D: -0.41%
• 1M: -6.72%
• YTD: 8.72%
• 6M: 10.07%
• 1Y: 7.46%
• 3Y*: -2.09%
• 5Y*: 5.03%
• 10Y*: 7.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

EQNR vs. PEP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EQNR

EQNR Risk / Return Rank: 83
EQNR Sharpe Ratio Rank: 87
EQNR Sortino Ratio Rank: 83
EQNR Omega Ratio Rank: 81
EQNR Calmar Ratio Rank: 87
EQNR Martin Ratio Rank: 79

PEP

PEP Risk / Return Rank: 49
PEP Sharpe Ratio Rank: 53
PEP Sortino Ratio Rank: 46
PEP Omega Ratio Rank: 43
PEP Calmar Ratio Rank: 53
PEP Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EQNR vs. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Equinor ASA (EQNR) and PepsiCo, Inc. (PEP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EQNR	PEP	Difference
Sharpe ratio Return per unit of total volatility	1.75	0.33	+1.42
Sortino ratio Return per unit of downside risk	2.32	0.68	+1.64
Omega ratio Gain probability vs. loss probability	1.30	1.08	+0.22
Calmar ratio Return relative to maximum drawdown	3.42	0.48	+2.94
Martin ratio Return relative to average drawdown	5.68	0.98	+4.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQNR vs. PEP - Sharpe Ratio Comparison

The current EQNR Sharpe Ratio is 1.75, which is higher than the PEP Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of EQNR and PEP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EQNR	PEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	0.33	+1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.28	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.39	-0.05

Correlation

The correlation between EQNR and PEP is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EQNR vs. PEP - Dividend Comparison

EQNR's dividend yield for the trailing twelve months is around 3.66%, which matches PEP's 3.68% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQNR Equinor ASA	3.66%	7.66%	12.66%	11.38%	3.30%	2.13%	4.32%	5.07%	3.26%	0.00%	0.00%	0.00%
PEP PepsiCo, Inc.	3.68%	3.92%	3.51%	2.91%	2.50%	2.45%	2.71%	2.77%	3.25%	2.64%	2.83%	2.76%

Drawdowns

EQNR vs. PEP - Drawdown Comparison

The maximum EQNR drawdown since its inception was -66.77%, smaller than the maximum PEP drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for EQNR and PEP.

Drawdown Indicators

	EQNR	PEP	Difference
Max Drawdown Largest peak-to-trough decline	-66.77%	-73.92%	+7.15%
Max Drawdown (1Y) Largest decline over 1 year	-17.72%	-15.14%	-2.58%
Max Drawdown (5Y) Largest decline over 5 years	-35.50%	-30.32%	-5.18%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.32%	—
Current Drawdown Current decline from peak	-4.74%	-12.75%	+8.01%
Average Drawdown Average peak-to-trough decline	-21.78%	-13.64%	-8.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.94%	7.39%	+3.55%

Volatility

EQNR vs. PEP - Volatility Comparison

Equinor ASA (EQNR) has a higher volatility of 13.08% compared to PepsiCo, Inc. (PEP) at 5.23%. This indicates that EQNR's price experiences larger fluctuations and is considered to be riskier than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQNR	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.08%	5.23%	+7.85%
Volatility (6M) Calculated over the trailing 6-month period	24.42%	14.84%	+9.58%
Volatility (1Y) Calculated over the trailing 1-year period	34.02%	22.46%	+11.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.09%	18.11%	+14.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.98%	19.54%	+16.44%

Financials

EQNR vs. PEP - Profitability Comparison

The chart below illustrates the profitability comparison between Equinor ASA and PepsiCo, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EQNR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Equinor ASA reported a gross profit of -907.93M and revenue of 25.26B. Therefore, the gross margin over that period was -3.6%.

PEP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a gross profit of 15.62B and revenue of 29.34B. Therefore, the gross margin over that period was 53.2%.

EQNR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Equinor ASA reported an operating income of 7.42B and revenue of 25.26B, resulting in an operating margin of 29.4%.

PEP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported an operating income of 3.56B and revenue of 29.34B, resulting in an operating margin of 12.1%.

EQNR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Equinor ASA reported a net income of 1.31B and revenue of 25.26B, resulting in a net margin of 5.2%.

PEP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, PepsiCo, Inc. reported a net income of 2.54B and revenue of 29.34B, resulting in a net margin of 8.7%.