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EQUINOX GOLD CORP (EQX.CA) Stock Fundamental Analysis

TSX:EQX - Toronto Stock Exchange - CA29446Y5020 - Common Stock - Currency: CAD

8.84  0 (0%)

Fundamental Rating

5

EQX gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 794 industry peers in the Metals & Mining industry. EQX has an excellent profitability rating, but there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on EQX.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

In the past year EQX was profitable.
In the past year EQX had a positive cash flow from operations.
EQX had positive earnings in 4 of the past 5 years.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M

1.2 Ratios

EQX's Return On Assets of 4.60% is amongst the best of the industry. EQX outperforms 88.92% of its industry peers.
The Return On Equity of EQX (9.23%) is better than 91.18% of its industry peers.
The Return On Invested Capital of EQX (2.31%) is better than 89.55% of its industry peers.
EQX had an Average Return On Invested Capital over the past 3 years of 0.99%. This is significantly below the industry average of 12.37%.
The 3 year average ROIC (0.99%) for EQX is below the current ROIC(2.31%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.6%
ROE 9.23%
ROIC 2.31%
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 2015 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 18.07%, EQX belongs to the top of the industry, outperforming 94.71% of the companies in the same industry.
EQX's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 15.14%, EQX belongs to the top of the industry, outperforming 90.68% of the companies in the same industry.
In the last couple of years the Operating Margin of EQX has declined.
EQX has a better Gross Margin (35.26%) than 92.70% of its industry peers.
EQX's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 15.14%
PM (TTM) 18.07%
GM 35.26%
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

2

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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
Compared to 1 year ago, EQX has a worse debt to assets ratio.
EQX.CA Yearly Shares OutstandingEQX.CA Yearly Shares OutstandingYearly Shares Outstanding 2015 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

Based on the Altman-Z score of 1.37, we must say that EQX is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of EQX (1.37) is comparable to the rest of the industry.
The Debt to FCF ratio of EQX is 181.84, which is on the high side as it means it would take EQX, 181.84 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 181.84, EQX belongs to the top of the industry, outperforming 88.54% of the companies in the same industry.
A Debt/Equity ratio of 0.38 indicates that EQX is not too dependend on debt financing.
The Debt to Equity ratio of EQX (0.38) is worse than 71.66% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 181.84
Altman-Z 1.37
ROIC/WACC0.27
WACC8.71%
EQX.CA Yearly LT Debt VS Equity VS FCFEQX.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

A Current Ratio of 0.85 indicates that EQX may have some problems paying its short term obligations.
EQX's Current ratio of 0.85 is on the low side compared to the rest of the industry. EQX is outperformed by 60.71% of its industry peers.
EQX has a Quick Ratio of 0.85. This is a bad value and indicates that EQX is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of EQX (0.50) is worse than 67.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.85
Quick Ratio 0.5
EQX.CA Yearly Current Assets VS Current LiabilitesEQX.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

6

3. Growth

3.1 Past

EQX shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 756.99%, which is quite impressive.
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 54.87%.
The Revenue has been growing by 39.98% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)756.99%
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%-100%
Revenue 1Y (TTM)54.87%
Revenue growth 3Y11.84%
Revenue growth 5Y39.98%
Sales Q2Q%75.58%

3.2 Future

The Earnings Per Share is expected to grow by 21.03% on average over the next years. This is a very strong growth
EQX is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -6.79% yearly.
EPS Next Y341.1%
EPS Next 2Y152.51%
EPS Next 3Y82.44%
EPS Next 5Y21.03%
Revenue Next Year33.06%
Revenue Next 2Y23.47%
Revenue Next 3Y12.23%
Revenue Next 5Y-6.79%

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 accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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 1B 2B 3B
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

8

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 38.43, 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 87.53% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.53. EQX is valued slightly more expensive when compared to this.
With a Price/Forward Earnings ratio of 4.82, the valuation of EQX can be described as very cheap.
EQX's Price/Forward Earnings ratio is rather cheap when compared to the industry. EQX is cheaper than 96.47% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 36.71, EQX is valued rather cheaply.
Industry RankSector Rank
PE 38.43
Fwd PE 4.82
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

4.2 Price Multiples

EQX's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. EQX is cheaper than 92.19% of the companies in the same industry.
88.79% 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 639.1
EV/EBITDA 11.5
EQX.CA Per share dataEQX.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

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 decent profitability rating of EQX may justify a higher PE ratio.
A more expensive valuation may be justified as EQX's earnings are expected to grow with 82.44% in the coming years.
PEG (NY)0.11
PEG (5Y)N/A
EPS Next 2Y152.51%
EPS Next 3Y82.44%

0

5. Dividend

5.1 Amount

EQX does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

EQUINOX GOLD CORP

TSX:EQX (7/22/2025, 7:00:00 PM)

8.84

0 (0%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-13 2025-08-13/amc
Inst Owners61.01%
Inst Owner ChangeN/A
Ins Owners5.45%
Ins Owner ChangeN/A
Market Cap6.71B
Analysts80
Price Target16.8 (90.05%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)0
Avg EPS beat(2)-88.43%
Min EPS beat(2)-155.58%
Max EPS beat(2)-21.28%
EPS beat(4)1
Avg EPS beat(4)-41.79%
Min EPS beat(4)-155.58%
Max EPS beat(4)33.99%
EPS beat(8)N/A
Avg EPS beat(8)N/A
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)1
Avg Revenue beat(2)-1.53%
Min Revenue beat(2)-3.34%
Max Revenue beat(2)0.27%
Revenue beat(4)1
Avg Revenue beat(4)-4.78%
Min Revenue beat(4)-12.93%
Max Revenue beat(4)0.27%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)-14.38%
PT rev (3m)-18.16%
EPS NQ rev (1m)-56.36%
EPS NQ rev (3m)-58.47%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-24.91%
Revenue NQ rev (3m)-24.91%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-6.95%
Valuation
Industry RankSector Rank
PE 38.43
Fwd PE 4.82
P/S 2.89
P/FCF 639.1
P/OCF 11.98
P/B 1.47
P/tB 1.47
EV/EBITDA 11.5
EPS(TTM)0.23
EY2.6%
EPS(NY)1.84
Fwd EY20.76%
FCF(TTM)0.01
FCFY0.16%
OCF(TTM)0.74
OCFY8.35%
SpS3.06
BVpS6
TBVpS6
PEG (NY)0.11
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.6%
ROE 9.23%
ROCE 4.3%
ROIC 2.31%
ROICexc 2.39%
ROICexgc 2.39%
OM 15.14%
PM (TTM) 18.07%
GM 35.26%
FCFM 0.45%
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%
ROICexcg growth 3Y-8.65%
ROICexcg 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-Score5
Asset Turnover0.25
Health
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 181.84
Debt/EBITDA 2.37
Cap/Depr 146.52%
Cap/Sales 23.64%
Interest Coverage 2.05
Cash Conversion 77.03%
Profit Quality 2.5%
Current Ratio 0.85
Quick Ratio 0.5
Altman-Z 1.37
F-Score5
WACC8.71%
ROIC/WACC0.27
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)756.99%
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%-100%
EPS Next Y341.1%
EPS Next 2Y152.51%
EPS Next 3Y82.44%
EPS Next 5Y21.03%
Revenue 1Y (TTM)54.87%
Revenue growth 3Y11.84%
Revenue growth 5Y39.98%
Sales Q2Q%75.58%
Revenue Next Year33.06%
Revenue Next 2Y23.47%
Revenue Next 3Y12.23%
Revenue Next 5Y-6.79%
EBIT growth 1Y501.13%
EBIT growth 3Y13.43%
EBIT growth 5Y33.98%
EBIT Next Year95.85%
EBIT Next 3Y40.32%
EBIT Next 5Y38.2%
FCF growth 1Y102.22%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y89.05%
OCF growth 3Y5.08%
OCF growth 5Y44.19%