EQUINOX GOLD CORP (EQX.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:EQX • CA29446Y5020

21.14 CAD
+1.19 (+5.96%)
Last: Feb 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

6

Taking everything into account, EQX scores 6 out of 10 in our fundamental rating. EQX was compared to 812 industry peers in the Metals & Mining industry. While EQX has a great profitability rating, there are quite some concerns on its financial health. EQX is evaluated to be cheap and growing strongly. This does not happen too often!


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • EQX had positive earnings in the past year.
  • EQX had a positive operating cash flow in the past year.
  • EQX had positive earnings in 4 of the past 5 years.
  • Each year in the past 5 years EQX had a positive operating cash flow.
EQX.CA Yearly Net Income VS EBIT VS OCF VS FCFEQX.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 0.47%, EQX belongs to the top of the industry, outperforming 85.22% of the companies in the same industry.
  • EQX's Return On Equity of 0.88% is amongst the best of the industry. EQX outperforms 85.71% of its industry peers.
  • With an excellent Return On Invested Capital value of 2.10%, EQX belongs to the best of the industry, outperforming 89.53% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for EQX is significantly below the industry average of 12.05%.
  • The last Return On Invested Capital (2.10%) for EQX is above the 3 year average (0.99%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 0.47%
ROE 0.88%
ROIC 2.1%
ROA(3y)0.99%
ROA(5y)3.56%
ROE(3y)2.22%
ROE(5y)5.93%
ROIC(3y)0.99%
ROIC(5y)1.95%
EQX.CA Yearly ROA, ROE, ROICEQX.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 2.45%, EQX belongs to the top of the industry, outperforming 89.78% of the companies in the same industry.
  • EQX's Profit Margin has declined in the last couple of years.
  • EQX has a Operating Margin of 18.29%. This is amongst the best in the industry. EQX outperforms 91.50% of its industry peers.
  • EQX's Operating Margin has declined in the last couple of years.
  • With an excellent Gross Margin value of 40.73%, EQX belongs to the best of the industry, outperforming 93.10% of the companies in the same industry.
  • EQX's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 18.29%
PM (TTM) 2.45%
GM 40.73%
OM growth 3Y1.42%
OM growth 5Y-4.29%
PM growth 3Y-24.11%
PM growth 5YN/A
GM growth 3Y-4.28%
GM growth 5Y-4.45%
EQX.CA Yearly Profit, Operating, Gross MarginsEQX.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • EQX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, EQX has more shares outstanding
  • Compared to 5 years ago, EQX has more shares outstanding
  • Compared to 1 year ago, EQX has a worse debt to assets ratio.
EQX.CA Yearly Shares OutstandingEQX.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
EQX.CA Yearly Total Debt VS Total AssetsEQX.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

  • EQX has an Altman-Z score of 1.94. This is not the best score and indicates that EQX is in the grey zone with still only limited risk for bankruptcy at the moment.
  • The Altman-Z score of EQX (1.94) is comparable to the rest of the industry.
  • The Debt to FCF ratio of EQX is 12.57, which is on the high side as it means it would take EQX, 12.57 years of fcf income to pay off all of its debts.
  • EQX's Debt to FCF ratio of 12.57 is amongst the best of the industry. EQX outperforms 90.02% of its industry peers.
  • A Debt/Equity ratio of 0.34 indicates that EQX is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.34, EQX is doing worse than 70.07% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 12.57
Altman-Z 1.94
ROIC/WACC0.2
WACC10.27%
EQX.CA Yearly LT Debt VS Equity VS FCFEQX.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

  • A Current Ratio of 0.94 indicates that EQX may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.94, EQX is doing worse than 61.95% of the companies in the same industry.
  • A Quick Ratio of 0.53 indicates that EQX may have some problems paying its short term obligations.
  • EQX's Quick ratio of 0.53 is on the low side compared to the rest of the industry. EQX is outperformed by 67.49% of its industry peers.
Industry RankSector Rank
Current Ratio 0.94
Quick Ratio 0.53
EQX.CA Yearly Current Assets VS Current LiabilitesEQX.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 680.00% over the past year.
  • Measured over the past years, EQX shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -18.64% on average per year.
  • Looking at the last year, EQX shows a very strong growth in Revenue. The Revenue has grown by 39.14%.
  • Measured over the past years, EQX shows a very strong growth in Revenue. The Revenue has been growing by 39.98% on average per year.
EPS 1Y (TTM)680%
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%111.11%
Revenue 1Y (TTM)39.14%
Revenue growth 3Y11.84%
Revenue growth 5Y39.98%
Sales Q2Q%91.18%

3.2 Future

  • The Earnings Per Share is expected to grow by 48.07% on average over the next years. This is a very strong growth
  • EQX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 15.13% yearly.
EPS Next Y158.34%
EPS Next 2Y112.14%
EPS Next 3Y84.23%
EPS Next 5Y48.07%
Revenue Next Year69.38%
Revenue Next 2Y47.88%
Revenue Next 3Y35.49%
Revenue Next 5Y15.13%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
EQX.CA Yearly Revenue VS EstimatesEQX.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B 4B
EQX.CA Yearly EPS VS EstimatesEQX.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1 1.5

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Find the best growth stocksShow best growing peers

7

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 39.89, the valuation of EQX can be described as expensive.
  • Based on the Price/Earnings ratio, EQX is valued cheaper than 89.16% of the companies in the same industry.
  • EQX's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 28.06.
  • EQX is valuated correctly with a Price/Forward Earnings ratio of 16.44.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of EQX indicates a rather cheap valuation: EQX is cheaper than 91.63% of the companies listed in the same industry.
  • EQX's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.86.
Industry RankSector Rank
PE 39.89
Fwd PE 16.44
EQX.CA Price Earnings VS Forward Price EarningsEQX.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • 91.75% of the companies in the same industry are more expensive than EQX, based on the Enterprise Value to EBITDA ratio.
  • Based on the Price/Free Cash Flow ratio, EQX is valued cheaper than 92.61% of the companies in the same industry.
Industry RankSector Rank
P/FCF 73.42
EV/EBITDA 20.52
EQX.CA Per share dataEQX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

  • EQX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • EQX has a very decent profitability rating, which may justify a higher PE ratio.
  • EQX's earnings are expected to grow with 84.22% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.25
PEG (5Y)N/A
EPS Next 2Y112.14%
EPS Next 3Y84.23%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • EQX does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

EQUINOX GOLD CORP

TSX:EQX (2/9/2026, 7:00:00 PM)

21.14

+1.19 (+5.96%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)11-05
Earnings (Next)02-18
Inst Owners60.9%
Inst Owner ChangeN/A
Ins Owners3.82%
Ins Owner ChangeN/A
Market Cap16.59B
Revenue(TTM)1.51B
Net Income(TTM)46.63M
Analysts80
Price Target34.91 (65.14%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)261.18%
Min EPS beat(2)-155.58%
Max EPS beat(2)677.94%
EPS beat(4)1
Avg EPS beat(4)119.2%
Min EPS beat(4)-155.58%
Max EPS beat(4)677.94%
EPS beat(8)5
Avg EPS beat(8)146.29%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-5.39%
Min Revenue beat(2)-7.44%
Max Revenue beat(2)-3.34%
Revenue beat(4)1
Avg Revenue beat(4)-3.41%
Min Revenue beat(4)-7.44%
Max Revenue beat(4)0.27%
Revenue beat(8)1
Avg Revenue beat(8)-6.82%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)7.2%
PT rev (3m)29.27%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.47%
EPS NY rev (1m)7.79%
EPS NY rev (3m)38.24%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)7.88%
Valuation
Industry RankSector Rank
PE 39.89
Fwd PE 16.44
P/S 6.4
P/FCF 73.42
P/OCF 21.21
P/B 2.3
P/tB 2.3
EV/EBITDA 20.52
EPS(TTM)0.53
EY2.51%
EPS(NY)1.29
Fwd EY6.08%
FCF(TTM)0.29
FCFY1.36%
OCF(TTM)1
OCFY4.71%
SpS3.3
BVpS9.18
TBVpS9.18
PEG (NY)0.25
PEG (5Y)N/A
Graham Number10.46
Profitability
Industry RankSector Rank
ROA 0.47%
ROE 0.88%
ROCE 3.9%
ROIC 2.1%
ROICexc 2.21%
ROICexgc 2.21%
OM 18.29%
PM (TTM) 2.45%
GM 40.73%
FCFM 8.71%
ROA(3y)0.99%
ROA(5y)3.56%
ROE(3y)2.22%
ROE(5y)5.93%
ROIC(3y)0.99%
ROIC(5y)1.95%
ROICexc(3y)1.04%
ROICexc(5y)2.21%
ROICexgc(3y)1.04%
ROICexgc(5y)2.21%
ROCE(3y)1.84%
ROCE(5y)3.63%
ROICexgc growth 3Y-8.65%
ROICexgc growth 5Y-13.76%
ROICexc growth 3Y-8.65%
ROICexc growth 5Y-13.76%
OM growth 3Y1.42%
OM growth 5Y-4.29%
PM growth 3Y-24.11%
PM growth 5YN/A
GM growth 3Y-4.28%
GM growth 5Y-4.45%
F-Score6
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 12.57
Debt/EBITDA 2.67
Cap/Depr 125.73%
Cap/Sales 21.44%
Interest Coverage 2.69
Cash Conversion 85.31%
Profit Quality 356.06%
Current Ratio 0.94
Quick Ratio 0.53
Altman-Z 1.94
F-Score6
WACC10.27%
ROIC/WACC0.2
Cap/Depr(3y)240.75%
Cap/Depr(5y)202.16%
Cap/Sales(3y)44.6%
Cap/Sales(5y)37.26%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)680%
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%111.11%
EPS Next Y158.34%
EPS Next 2Y112.14%
EPS Next 3Y84.23%
EPS Next 5Y48.07%
Revenue 1Y (TTM)39.14%
Revenue growth 3Y11.84%
Revenue growth 5Y39.98%
Sales Q2Q%91.18%
Revenue Next Year69.38%
Revenue Next 2Y47.88%
Revenue Next 3Y35.49%
Revenue Next 5Y15.13%
EBIT growth 1Y772%
EBIT growth 3Y13.43%
EBIT growth 5Y33.98%
EBIT Next Year135.79%
EBIT Next 3Y64.35%
EBIT Next 5Y32.54%
FCF growth 1Y162.24%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y118.53%
OCF growth 3Y5.08%
OCF growth 5Y44.19%

EQUINOX GOLD CORP / EQX.CA FAQ

What is the ChartMill fundamental rating of EQUINOX GOLD CORP (EQX.CA) stock?

ChartMill assigns a fundamental rating of 6 / 10 to EQX.CA.


What is the valuation status for EQX stock?

ChartMill assigns a valuation rating of 7 / 10 to EQUINOX GOLD CORP (EQX.CA). This can be considered as Undervalued.


Can you provide the profitability details for EQUINOX GOLD CORP?

EQUINOX GOLD CORP (EQX.CA) has a profitability rating of 7 / 10.


What are the PE and PB ratios of EQUINOX GOLD CORP (EQX.CA) stock?

The Price/Earnings (PE) ratio for EQUINOX GOLD CORP (EQX.CA) is 39.89 and the Price/Book (PB) ratio is 2.3.


Can you provide the expected EPS growth for EQX stock?

The Earnings per Share (EPS) of EQUINOX GOLD CORP (EQX.CA) is expected to grow by 158.34% in the next year.