EQUINOX GOLD CORP (EQX.CA) Fundamental Analysis & Valuation

TSX:EQX • CA29446Y5020

Current stock price

21.37 CAD
+1.07 (+5.27%)
Last:

This EQX.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. EQX.CA Profitability Analysis

1.1 Basic Checks

  • EQX had positive earnings in the past year.
  • In the past year EQX had a positive cash flow from operations.
  • EQX had positive earnings in 4 of the past 5 years.
  • In the past 5 years EQX always reported a positive cash flow from operatings.
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 2025 0 200M -200M 400M -400M 600M 800M

1.2 Ratios

  • EQX's Return On Assets of 2.10% is amongst the best of the industry. EQX outperforms 85.53% of its industry peers.
  • EQX has a Return On Equity of 3.82%. This is amongst the best in the industry. EQX outperforms 87.04% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 3.49%, EQX belongs to the top of the industry, outperforming 90.31% 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 13.12%.
  • The last Return On Invested Capital (3.49%) for EQX is above the 3 year average (2.08%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 2.1%
ROE 3.82%
ROIC 3.49%
ROA(3y)2.61%
ROA(5y)3.81%
ROE(3y)5%
ROE(5y)6.39%
ROIC(3y)2.08%
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 2025 0 10 -10 20

1.3 Margins

  • EQX has a better Profit Margin (12.19%) than 91.82% of its industry peers.
  • EQX's Profit Margin has improved in the last couple of years.
  • With an excellent Operating Margin value of 24.77%, EQX belongs to the best of the industry, outperforming 92.33% of the companies in the same industry.
  • In the last couple of years the Operating Margin of EQX has remained more or less at the same level.
  • Looking at the Gross Margin, with a value of 54.07%, EQX belongs to the top of the industry, outperforming 96.10% of the companies in the same industry.
  • EQX's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 24.77%
PM (TTM) 12.19%
GM 54.07%
OM growth 3Y183.11%
OM growth 5Y1.23%
PM growth 3YN/A
PM growth 5Y35.83%
GM growth 3Y23.68%
GM growth 5Y1.61%
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 2025 0 -100 -200 -300

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4

2. EQX.CA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), EQX is destroying value.
  • EQX has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, EQX has more shares outstanding
  • The debt/assets ratio for EQX has been reduced compared to a year ago.
EQX.CA Yearly Shares OutstandingEQX.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M
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 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • EQX has an Altman-Z score of 1.99. 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.
  • EQX has a Altman-Z score (1.99) which is in line with its industry peers.
  • EQX has a debt to FCF ratio of 14.57. This is a negative value and a sign of low solvency as EQX would need 14.57 years to pay back of all of its debts.
  • EQX has a better Debt to FCF ratio (14.57) than 89.43% of its industry peers.
  • EQX has a Debt/Equity ratio of 0.27. This is a healthy value indicating a solid balance between debt and equity.
  • EQX's Debt to Equity ratio of 0.27 is on the low side compared to the rest of the industry. EQX is outperformed by 69.81% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 14.57
Altman-Z 1.99
ROIC/WACC0.29
WACC12.09%
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 2025 0 2B 4B

2.3 Liquidity

  • A Current Ratio of 1.56 indicates that EQX should not have too much problems paying its short term obligations.
  • With a Current ratio value of 1.56, EQX perfoms like the industry average, outperforming 45.03% of the companies in the same industry.
  • A Quick Ratio of 1.27 indicates that EQX should not have too much problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 1.27, EQX is in line with its industry, outperforming 43.40% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.56
Quick Ratio 1.27
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 2025 500M 1B 1.5B

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

8

3. EQX.CA Growth Analysis

3.1 Past

  • EQX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 166.67%, which is quite impressive.
  • EQX shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 24.13% yearly.
  • EQX shows a strong growth in Revenue. In the last year, the Revenue has grown by 20.02%.
  • The Revenue has been growing by 16.54% on average over the past years. This is quite good.
EPS 1Y (TTM)166.67%
EPS 3YN/A
EPS 5Y24.13%
EPS Q2Q%100%
Revenue 1Y (TTM)20.02%
Revenue growth 3Y24.04%
Revenue growth 5Y16.54%
Sales Q2Q%71.79%

3.2 Future

  • The Earnings Per Share is expected to grow by 21.20% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, EQX will show a quite strong growth in Revenue. The Revenue will grow by 10.88% on average per year.
EPS Next Y183.88%
EPS Next 2Y97.45%
EPS Next 3Y36.33%
EPS Next 5Y21.2%
Revenue Next Year39.11%
Revenue Next 2Y24.67%
Revenue Next 3Y15.62%
Revenue Next 5Y10.89%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in 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 2

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8

4. EQX.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 27.75, EQX can be considered very expensive at the moment.
  • Compared to the rest of the industry, the Price/Earnings ratio of EQX indicates a rather cheap valuation: EQX is cheaper than 89.56% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.87, EQX is valued at the same level.
  • A Price/Forward Earnings ratio of 9.79 indicates a reasonable valuation of EQX.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of EQX indicates a rather cheap valuation: EQX is cheaper than 93.96% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 38.51. EQX is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 27.75
Fwd PE 9.79
EQX.CA Price Earnings VS Forward Price EarningsEQX.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • 93.21% of the companies in the same industry are more expensive than EQX, based on the Enterprise Value to EBITDA ratio.
  • 90.94% of the companies in the same industry are more expensive than EQX, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 97.51
EV/EBITDA 13.2
EQX.CA Per share dataEQX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8 10

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.
  • The excellent profitability rating of EQX may justify a higher PE ratio.
  • EQX's earnings are expected to grow with 36.33% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.15
PEG (5Y)1.15
EPS Next 2Y97.45%
EPS Next 3Y36.33%

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

2

5. EQX.CA Dividend Analysis

5.1 Amount

  • EQX has a yearly dividend return of 0.40%, which is pretty low.
  • Compared to an average industry Dividend Yield of 0.90, EQX pays a better dividend. On top of this EQX pays more dividend than 95.22% of the companies listed in the same industry.
  • With a Dividend Yield of 0.40, EQX pays less dividend than the S&P500 average, which is at 1.82.
Industry RankSector Rank
Dividend Yield 0.4%

5.2 History

  • EQX is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
EQX.CA Yearly Dividends per shareEQX.CA Yearly Dividends per shareYearly Dividends per share 2026 0.01 0.01 0.02

5.3 Sustainability

DPN/A
EPS Next 2Y97.45%
EPS Next 3Y36.33%
EQX.CA Yearly Income VS Free CF VS DividendEQX.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M -400M

More info and screens

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EQX.CA Fundamentals: All Metrics, Ratios and Statistics

EQUINOX GOLD CORP

TSX:EQX (4/17/2026, 7:00:00 PM)

21.37

+1.07 (+5.27%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-19
Earnings (Next)05-06
Inst Owners64.58%
Inst Owner ChangeN/A
Ins Owners4.07%
Ins Owner ChangeN/A
Market Cap16.87B
Revenue(TTM)1.82B
Net Income(TTM)221.47M
Analysts80
Price Target36.77 (72.06%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.4%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date03-12
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)27.43%
Min EPS beat(2)18.53%
Max EPS beat(2)36.32%
EPS beat(4)3
Avg EPS beat(4)144.3%
Min EPS beat(4)-155.58%
Max EPS beat(4)677.94%
EPS beat(8)5
Avg EPS beat(8)76.3%
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)-1.15%
Min Revenue beat(2)-1.59%
Max Revenue beat(2)-0.71%
Revenue beat(4)0
Avg Revenue beat(4)-3.27%
Min Revenue beat(4)-7.44%
Max Revenue beat(4)-0.71%
Revenue beat(8)1
Avg Revenue beat(8)-5.34%
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)1.1%
PT rev (3m)12.93%
EPS NQ rev (1m)-18.18%
EPS NQ rev (3m)42.11%
EPS NY rev (1m)-1.62%
EPS NY rev (3m)54.06%
Revenue NQ rev (1m)25.19%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)3.62%
Revenue NY rev (3m)1.34%
Valuation
Industry RankSector Rank
PE 27.75
Fwd PE 9.79
P/S 6.76
P/FCF 97.51
P/OCF 15.01
P/B 2.12
P/tB 2.12
EV/EBITDA 13.2
EPS(TTM)0.77
EY3.6%
EPS(NY)2.18
Fwd EY10.21%
FCF(TTM)0.22
FCFY1.03%
OCF(TTM)1.42
OCFY6.66%
SpS3.16
BVpS10.08
TBVpS10.08
PEG (NY)0.15
PEG (5Y)1.15
Graham Number13.2152 (-38.16%)
Profitability
Industry RankSector Rank
ROA 2.1%
ROE 3.82%
ROCE 4.85%
ROIC 3.49%
ROICexc 3.72%
ROICexgc 3.72%
OM 24.77%
PM (TTM) 12.19%
GM 54.07%
FCFM 6.93%
ROA(3y)2.61%
ROA(5y)3.81%
ROE(3y)5%
ROE(5y)6.39%
ROIC(3y)2.08%
ROIC(5y)1.95%
ROICexc(3y)2.2%
ROICexc(5y)2.14%
ROICexgc(3y)2.2%
ROICexgc(5y)2.14%
ROCE(3y)2.88%
ROCE(5y)2.7%
ROICexgc growth 3Y155.37%
ROICexgc growth 5Y-11.18%
ROICexc growth 3Y155.37%
ROICexc growth 5Y-11.18%
OM growth 3Y183.11%
OM growth 5Y1.23%
PM growth 3YN/A
PM growth 5Y35.83%
GM growth 3Y23.68%
GM growth 5Y1.61%
F-Score6
Asset Turnover0.17
Health
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 14.57
Debt/EBITDA 1.65
Cap/Depr 133.78%
Cap/Sales 38.1%
Interest Coverage 3.39
Cash Conversion 84.58%
Profit Quality 56.89%
Current Ratio 1.56
Quick Ratio 1.27
Altman-Z 1.99
F-Score6
WACC12.09%
ROIC/WACC0.29
Cap/Depr(3y)187.01%
Cap/Depr(5y)205.95%
Cap/Sales(3y)43.78%
Cap/Sales(5y)44.33%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)166.67%
EPS 3YN/A
EPS 5Y24.13%
EPS Q2Q%100%
EPS Next Y183.88%
EPS Next 2Y97.45%
EPS Next 3Y36.33%
EPS Next 5Y21.2%
Revenue 1Y (TTM)20.02%
Revenue growth 3Y24.04%
Revenue growth 5Y16.54%
Sales Q2Q%71.79%
Revenue Next Year39.11%
Revenue Next 2Y24.67%
Revenue Next 3Y15.62%
Revenue Next 5Y10.89%
EBIT growth 1Y89.12%
EBIT growth 3Y251.17%
EBIT growth 5Y17.97%
EBIT Next Year127.7%
EBIT Next 3Y26.67%
EBIT Next 5Y24.46%
FCF growth 1Y415.87%
FCF growth 3YN/A
FCF growth 5Y9.23%
OCF growth 1Y119.88%
OCF growth 3Y143.8%
OCF growth 5Y26.19%

EQUINOX GOLD CORP / EQX.CA Fundamental Analysis 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 8 / 10 to EQUINOX GOLD CORP (EQX.CA). This can be considered as Undervalued.


What is the profitability of EQX stock?

EQUINOX GOLD CORP (EQX.CA) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for EQX stock?

The Price/Earnings (PE) ratio for EQUINOX GOLD CORP (EQX.CA) is 27.75 and the Price/Book (PB) ratio is 2.12.