5 Most Valuable Nordic Companies in the World

2. Equinor ASA (NYSE:EQNR)

Market Capitalization: $84.37B

Country of Origin: Norway

On the second spot on our list of the 15 most valuable Nordic companies in the world is Equinor ASA (NYSE: EQNR). Ranked as the 169^th largest company in the world by the Forbes Global 2000 in 2020, Equinor (NYSE: EQNR) is a state-owned multinational energy company with its operations mainly focusing on petroleum and additional investments in the renewable energy market. Equinor (NYSE: EQNR) currently employs over 20,000 people with operations in more than 30 countries worldwide.

Massif Capital, an investment management firm, published its second-quarter 2021 investor letter and mentioned Equinor ASA (NYSE: EQNR). Here‘s what the fund said:

“We currently have two oil-related positions in our portfolio and believe the oil opportunity set is ripe. As one might expect, both positions, (including Equinor: EQNR) performed well during the second quarter, given the steady march higher that oil has made in recent months. We maintain a positive outlook for both companies, although, importantly, our posture is not predicated on an expectation for continued oil price appreciation. This is not because of our inability to imagine scenarios where that does occur, but more out of an abundance of caution for what is a highly volatile commodity that at current price levels should be more than sufficient to generate ample free cash flow for any investable oil firm.

In the future, we expect both firms in the portfolio to generate significant free cash flow and expect EQNR to reinvest that free cash flow into a combination of offshore oil and wind opportunities with high rates of return. The path forward for AOI is more complicated and does warrant a few comments.”