• Equinor average price to free cash flow ratio for 2023 was 5.39, a 39.64% increase from 2022.
• Equinor average price to free cash flow ratio for 2022 was 3.86, a 49.28% increase from 2021.
• Equinor average price to free cash flow ratio for 2021 was 7.61, a 52.85% decline from 2020.

Price to free cash flow ratio can be defined as