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

  • In the past year EQX was profitable.
  • In the past year EQX had a positive cash flow from operations.
  • Of the past 5 years EQX 4 years were profitable.
  • EQX had a positive operating cash flow in each of the past 5 years.
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

  • The Return On Assets of EQX (2.10%) is better than 85.82% of its industry peers.
  • EQX has a Return On Equity of 3.82%. This is amongst the best in the industry. EQX outperforms 87.20% of its industry peers.
  • EQX's Return On Invested Capital of 3.49% is amongst the best of the industry. EQX outperforms 90.21% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for EQX is significantly below the industry average of 13.29%.
  • The 3 year average ROIC (2.08%) for EQX is below the current ROIC(3.49%), indicating increased profibility in the last year.
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 Profit Margin of 12.19%. This is amongst the best in the industry. EQX outperforms 91.97% of its industry peers.
  • In the last couple of years the Profit Margin of EQX has grown nicely.
  • EQX has a Operating Margin of 24.77%. This is amongst the best in the industry. EQX outperforms 92.22% of its industry peers.
  • In the last couple of years the Operating Margin of EQX has remained more or less at the same level.
  • EQX has a better Gross Margin (54.07%) than 95.98% of its industry peers.
  • 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.
  • 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 an improved debt to assets ratio.
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 2.08. 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 (2.08) is comparable to the rest of the industry.
  • The Debt to FCF ratio of EQX is 14.57, which is on the high side as it means it would take EQX, 14.57 years of fcf income to pay off all of its debts.
  • EQX has a Debt to FCF ratio of 14.57. This is amongst the best in the industry. EQX outperforms 89.08% of its industry peers.
  • A Debt/Equity ratio of 0.27 indicates that EQX is not too dependend on debt financing.
  • 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 69.64% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 14.57
Altman-Z 2.08
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

  • EQX has a Current Ratio of 1.56. This is a normal value and indicates that EQX is financially healthy and should not expect problems in meeting its short term obligations.
  • EQX's Current ratio of 1.56 is in line compared to the rest of the industry. EQX outperforms 44.67% of its industry peers.
  • EQX has a Quick Ratio of 1.27. This is a normal value and indicates that EQX is financially healthy and should not expect problems in meeting its short term obligations.
  • EQX has a Quick ratio of 1.27. This is comparable to the rest of the industry: EQX outperforms 43.04% of its industry peers.
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.
  • Measured over the past years, EQX shows a very strong growth in Earnings Per Share. The EPS has been growing by 24.13% on average per year.
  • Looking at the last year, EQX shows a very strong growth in Revenue. The Revenue has grown by 20.02%.
  • Measured over the past years, EQX shows a quite strong growth in Revenue. The Revenue has been growing by 16.54% on average per year.
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
  • The Revenue is expected to grow by 10.88% on average over the next years. This is quite good.
EPS Next Y183.88%
EPS Next 2Y97.45%
EPS Next 3Y36.33%
EPS Next 5Y21.2%
Revenue Next Year44.61%
Revenue Next 2Y29.26%
Revenue Next 3Y15.58%
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.
  • 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 2

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Find the best growth stocksShow best growing peers

8

4. EQX.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • EQX is valuated quite expensively with a Price/Earnings ratio of 27.75.
  • 89.71% of the companies in the same industry are more expensive than EQX, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 27.89, EQX is valued at the same level.
  • The Price/Forward Earnings ratio is 9.83, which indicates a very decent valuation of EQX.
  • EQX's Price/Forward Earnings ratio is rather cheap when compared to the industry. EQX is cheaper than 93.73% of the companies in the same industry.
  • EQX is valuated cheaply when we compare the Price/Forward Earnings ratio to 38.50, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 27.75
Fwd PE 9.83
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of EQX indicates a rather cheap valuation: EQX is cheaper than 92.85% of the companies listed in the same industry.
  • 90.59% 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 97.89
EV/EBITDA 13.89
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

  • The 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

  • With a yearly dividend of 0.40%, EQX is not a good candidate for dividend investing.
  • EQX's Dividend Yield is rather good when compared to the industry average which is at 0.86. EQX pays more dividend than 95.23% of the companies 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 Cap16.86B
Revenue(TTM)1.82B
Net Income(TTM)221.47M
Analysts80
Price Target36.6 (71.27%)
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)0.64%
PT rev (3m)-0.89%
EPS NQ rev (1m)-13.64%
EPS NQ rev (3m)72.73%
EPS NY rev (1m)-1.62%
EPS NY rev (3m)68.21%
Revenue NQ rev (1m)25.82%
Revenue NQ rev (3m)25.82%
Revenue NY rev (1m)7.71%
Revenue NY rev (3m)5.34%
Valuation
Industry RankSector Rank
PE 27.75
Fwd PE 9.83
P/S 6.79
P/FCF 97.89
P/OCF 15.07
P/B 2.13
P/tB 2.13
EV/EBITDA 13.89
EPS(TTM)0.77
EY3.6%
EPS(NY)2.17
Fwd EY10.17%
FCF(TTM)0.22
FCFY1.02%
OCF(TTM)1.42
OCFY6.64%
SpS3.15
BVpS10.04
TBVpS10.04
PEG (NY)0.15
PEG (5Y)1.15
Graham Number13.1896 (-38.28%)
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 2.08
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 Year44.61%
Revenue Next 2Y29.26%
Revenue Next 3Y15.58%
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 2.13.