There are multiple formulas for estimating the percentage of body fat (BF%). Clínica Universidad de Navarra-Body Adiposity Estimator (CUN-BAE) is one of the most used formulas because of its accuracy and its association with cardiovascular pathologies. Equation Córdoba for Estimation of Body Fat (ECORE-BF) was developed to simplify the calculation of BF% while maintaining a similar level of accuracy. The objective was to compare ECORE-BF in a large sample of Spanish workers using CUN-BAE as a reference. A cross-sectional study was carried out on 196,844 participants. The BF% was estimated using different formulas: relative fat mass (RFM), Palafolls, Deurenberg, and ECORE-BF. The accuracy of the estimation was determined using Lin’s concordance correlation coefficient (CCC) and the Bland–Altman method, using CUN-BAE as the reference method. ECORE-BF reached the highest concordance (CCC = 0.998). It also showed the lowest mean difference (−0.0077) and the tightest agreement limits (−0.9723, 0.9569) in the Bland–Altman test. In both analyses, it remained robust even when separating the analyses by sex, nutritional status, or age. ECORE-BF presented as the most straightforward and most accurate equation for the estimation of BF%, remaining robust regardless of population characteristics.