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

TSX:EQX • CA29446Y5020

Current stock price

17.43 CAD
+0.7 (+4.18%)
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.
  • EQX had a positive operating cash flow in the past year.
  • 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M -400M 600M 800M

1.2 Ratios

  • EQX has a Return On Assets of 2.10%. This is amongst the best in the industry. EQX outperforms 85.32% of its industry peers.
  • With an excellent Return On Equity value of 3.82%, EQX belongs to the best of the industry, outperforming 86.82% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 3.49%, EQX belongs to the top of the industry, outperforming 90.55% of the companies in the same industry.
  • EQX had an Average Return On Invested Capital over the past 3 years of 2.08%. This is significantly below the industry average of 12.70%.
  • 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 91.79% of its industry peers.
  • EQX's Profit Margin has improved in the last couple of years.
  • EQX has a better Operating Margin (24.77%) than 92.79% of its industry peers.
  • EQX's Operating Margin has been stable in the last couple of years.
  • The Gross Margin of EQX (54.07%) is better than 96.27% of its industry peers.
  • In the last couple of years the Gross Margin of EQX has grown nicely.
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

  • EQX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • The number of shares outstanding for EQX has been increased compared to 1 year ago.
  • The number of shares outstanding for EQX has been increased compared to 5 years ago.
  • 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

  • Based on the Altman-Z score of 1.72, we must say that EQX is in the distress zone and has some risk of bankruptcy.
  • EQX has a Altman-Z score (1.72) which is in line with its industry peers.
  • 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 better Debt to FCF ratio (14.57) than 89.43% of its industry peers.
  • A Debt/Equity ratio of 0.27 indicates that EQX is not too dependend on debt financing.
  • The Debt to Equity ratio of EQX (0.27) is worse than 68.78% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.27
Debt/FCF 14.57
Altman-Z 1.72
ROIC/WACC0.31
WACC11.37%
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 has a Current ratio (1.56) which is in line with its industry peers.
  • 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 44.28% 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%.
  • EQX shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.54% yearly.
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 Y188.57%
EPS Next 2Y85.12%
EPS Next 3Y25.27%
EPS Next 5Y21.2%
Revenue Next Year34.25%
Revenue Next 2Y25.41%
Revenue Next 3Y15.07%
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

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8

4. EQX.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 22.64, EQX is valued on the expensive side.
  • Based on the Price/Earnings ratio, EQX is valued cheaply inside the industry as 89.93% of the companies are valued more expensively.
  • The average S&P500 Price/Earnings ratio is at 24.88. EQX is around the same levels.
  • The Price/Forward Earnings ratio is 7.80, which indicates a rather cheap valuation of EQX.
  • Based on the Price/Forward Earnings ratio, EQX is valued cheaper than 93.91% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of EQX to the average of the S&P500 Index (22.19), we can say EQX is valued rather cheaply.
Industry RankSector Rank
PE 22.64
Fwd PE 7.8
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 50

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 93.66% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, EQX is valued cheaply inside the industry as 91.17% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 78.82
EV/EBITDA 10.99
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.
  • EQX has an outstanding profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as EQX's earnings are expected to grow with 25.27% in the coming years.
PEG (NY)0.12
PEG (5Y)0.94
EPS Next 2Y85.12%
EPS Next 3Y25.27%

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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 0.35%, which is pretty low.
  • EQX's Dividend Yield is rather good when compared to the industry average which is at 0.49. EQX pays more dividend than 95.15% of the companies in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.90, EQX's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.35%

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 2Y85.12%
EPS Next 3Y25.27%
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

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EQX.CA Fundamentals: All Metrics, Ratios and Statistics

EQUINOX GOLD CORP

TSX:EQX (3/27/2026, 7:00:00 PM)

17.43

+0.7 (+4.18%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-19
Earnings (Next)05-05
Inst Owners65.08%
Inst Owner ChangeN/A
Ins Owners3.56%
Ins Owner ChangeN/A
Market Cap13.74B
Revenue(TTM)1.82B
Net Income(TTM)221.47M
Analysts80
Price Target36.37 (108.66%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.35%
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)4.19%
PT rev (3m)10.96%
EPS NQ rev (1m)100%
EPS NQ rev (3m)17.86%
EPS NY rev (1m)70.99%
EPS NY rev (3m)19.02%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-2.2%
Revenue NY rev (3m)-21.04%
Valuation
Industry RankSector Rank
PE 22.64
Fwd PE 7.8
P/S 5.47
P/FCF 78.82
P/OCF 12.14
P/B 1.71
P/tB 1.71
EV/EBITDA 10.99
EPS(TTM)0.77
EY4.42%
EPS(NY)2.24
Fwd EY12.83%
FCF(TTM)0.22
FCFY1.27%
OCF(TTM)1.44
OCFY8.24%
SpS3.19
BVpS10.17
TBVpS10.17
PEG (NY)0.12
PEG (5Y)0.94
Graham Number13.27
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 1.72
F-Score6
WACC11.37%
ROIC/WACC0.31
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 Y188.57%
EPS Next 2Y85.12%
EPS Next 3Y25.27%
EPS Next 5Y21.2%
Revenue 1Y (TTM)20.02%
Revenue growth 3Y24.04%
Revenue growth 5Y16.54%
Sales Q2Q%71.79%
Revenue Next Year34.25%
Revenue Next 2Y25.41%
Revenue Next 3Y15.07%
Revenue Next 5Y10.89%
EBIT growth 1Y89.12%
EBIT growth 3Y251.17%
EBIT growth 5Y17.97%
EBIT Next Year134.12%
EBIT Next 3Y25.37%
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.


Can you provide the profitability details for EQUINOX GOLD CORP?

EQUINOX GOLD CORP (EQX.CA) has a profitability rating of 8 / 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 22.64 and the Price/Book (PB) ratio is 1.71.


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 188.57% in the next year.