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EQUINOX GOLD CORP (EQX) Stock Fundamental Analysis

NYSEARCA:EQX - CA29446Y5020 - Common Stock

8.76 USD
+0.49 (+5.93%)
Last: 8/29/2025, 8:18:43 PM
8.78 USD
+0.02 (+0.23%)
After Hours: 8/29/2025, 8:18:43 PM
Fundamental Rating

4

Taking everything into account, EQX scores 4 out of 10 in our fundamental rating. EQX was compared to 156 industry peers in the Metals & Mining industry. EQX has a medium profitability rating, but doesn't score so well on its financial health evaluation. EQX is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

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.
Of the past 5 years EQX 4 years were profitable.
Each year in the past 5 years EQX had a positive operating cash flow.
EQX Yearly Net Income VS EBIT VS OCF VS FCFEQX 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 has a Return On Assets (0.47%) which is in line with its industry peers.
EQX has a Return On Equity (0.88%) which is in line with its industry peers.
EQX's Return On Invested Capital of 3.08% is in line compared to the rest of the industry. EQX outperforms 58.33% of its industry peers.
EQX had an Average Return On Invested Capital over the past 3 years of 1.45%. This is significantly below the industry average of 12.87%.
The 3 year average ROIC (1.45%) for EQX is below the current ROIC(3.08%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 0.47%
ROE 0.88%
ROIC 3.08%
ROA(3y)0.99%
ROA(5y)3.56%
ROE(3y)2.22%
ROE(5y)5.93%
ROIC(3y)1.45%
ROIC(5y)2.87%
EQX Yearly ROA, ROE, ROICEQX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20

1.3 Margins

EQX has a better Profit Margin (2.45%) than 64.74% of its industry peers.
EQX's Profit Margin has declined in the last couple of years.
The Operating Margin of EQX (18.29%) is better than 71.15% of its industry peers.
EQX's Operating Margin has declined in the last couple of years.
The Gross Margin of EQX (40.73%) is better than 79.49% of its industry peers.
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 Yearly Profit, Operating, Gross MarginsEQX 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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1

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so 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 a worse debt to assets ratio.
EQX Yearly Shares OutstandingEQX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
EQX Yearly Total Debt VS Total AssetsEQX 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

EQX has an Altman-Z score of 1.23. This is a bad value and indicates that EQX is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 1.23, EQX is not doing good in the industry: 74.36% of the companies in the same industry are doing better.
EQX has a debt to FCF ratio of 12.17. This is a negative value and a sign of low solvency as EQX would need 12.17 years to pay back of all of its debts.
EQX's Debt to FCF ratio of 12.17 is fine compared to the rest of the industry. EQX outperforms 62.18% of its industry peers.
EQX has a Debt/Equity ratio of 0.34. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.34, EQX is doing worse than 65.38% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 12.17
Altman-Z 1.23
ROIC/WACC0.32
WACC9.73%
EQX Yearly LT Debt VS Equity VS FCFEQX 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 0.94 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 83.33% 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 has a Quick ratio of 0.53. This is amonst the worse of the industry: EQX underperforms 86.54% of its industry peers.
Industry RankSector Rank
Current Ratio 0.94
Quick Ratio 0.53
EQX Yearly Current Assets VS Current LiabilitesEQX 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

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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 480.00%, 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.
EQX shows a strong growth in Revenue. In the last year, the Revenue has grown by 74.31%.
EQX shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 39.98% yearly.
EPS 1Y (TTM)480%
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%1200%
Revenue 1Y (TTM)74.31%
Revenue growth 3Y11.84%
Revenue growth 5Y39.98%
Sales Q2Q%77.67%

3.2 Future

EQX is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 21.03% yearly.
The Revenue is expected to decrease by -6.79% on average over the next years.
EPS Next Y86.77%
EPS Next 2Y122.36%
EPS Next 3Y83.18%
EPS Next 5Y21.03%
Revenue Next Year56.81%
Revenue Next 2Y52.81%
Revenue Next 3Y30.68%
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 Yearly Revenue VS EstimatesEQX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2016 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1B 2B 3B
EQX Yearly EPS VS EstimatesEQX Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.5 1

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 30.21, which means the current valuation is very expensive for EQX.
EQX's Price/Earnings ratio is a bit cheaper when compared to the industry. EQX is cheaper than 67.95% of the companies in the same industry.
EQX is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.08, which is the current average of the S&P500 Index.
The Price/Forward Earnings ratio is 8.44, 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 86.54% of the companies in the same industry.
EQX is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.72, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 30.21
Fwd PE 8.44
EQX Price Earnings VS Forward Price EarningsEQX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, EQX is valued a bit cheaper than 66.67% of the companies in the same industry.
69.23% 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 40.09
EV/EBITDA 12.21
EQX Per share dataEQX 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.
A more expensive valuation may be justified as EQX's earnings are expected to grow with 83.18% in the coming years.
PEG (NY)0.35
PEG (5Y)N/A
EPS Next 2Y122.36%
EPS Next 3Y83.18%

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0

5. Dividend

5.1 Amount

No dividends for EQX!.
Industry RankSector Rank
Dividend Yield N/A

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EQUINOX GOLD CORP

NYSEARCA:EQX (8/29/2025, 8:18:43 PM)

After market: 8.78 +0.02 (+0.23%)

8.76

+0.49 (+5.93%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)08-13 2025-08-13/amc
Earnings (Next)11-04 2025-11-04/amc
Inst Owners61.01%
Inst Owner Change43.1%
Ins Owners5.45%
Ins Owner ChangeN/A
Market Cap6.66B
Analysts80
Price Target11.22 (28.08%)
Short Float %3.97%
Short Ratio1.84
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)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)-8.33%
PT rev (3m)-29.03%
EPS NQ rev (1m)-17.72%
EPS NQ rev (3m)-51.92%
EPS NY rev (1m)-57.66%
EPS NY rev (3m)-57.66%
Revenue NQ rev (1m)19.13%
Revenue NQ rev (3m)19.13%
Revenue NY rev (1m)3.81%
Revenue NY rev (3m)17.85%
Valuation
Industry RankSector Rank
PE 30.21
Fwd PE 8.44
P/S 3.49
P/FCF 40.09
P/OCF 11.58
P/B 1.26
P/tB 1.26
EV/EBITDA 12.21
EPS(TTM)0.29
EY3.31%
EPS(NY)1.04
Fwd EY11.85%
FCF(TTM)0.22
FCFY2.49%
OCF(TTM)0.76
OCFY8.63%
SpS2.51
BVpS6.96
TBVpS6.96
PEG (NY)0.35
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.47%
ROE 0.88%
ROCE 3.9%
ROIC 3.08%
ROICexc 3.24%
ROICexgc 3.24%
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)1.45%
ROIC(5y)2.87%
ROICexc(3y)1.53%
ROICexc(5y)3.25%
ROICexgc(3y)1.53%
ROICexgc(5y)3.25%
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-Score6
Asset Turnover0.19
Health
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF 12.17
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 1.23
F-Score6
WACC9.73%
ROIC/WACC0.32
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)480%
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%1200%
EPS Next Y86.77%
EPS Next 2Y122.36%
EPS Next 3Y83.18%
EPS Next 5Y21.03%
Revenue 1Y (TTM)74.31%
Revenue growth 3Y11.84%
Revenue growth 5Y39.98%
Sales Q2Q%77.67%
Revenue Next Year56.81%
Revenue Next 2Y52.81%
Revenue Next 3Y30.68%
Revenue Next 5Y-6.79%
EBIT growth 1Y772%
EBIT growth 3Y13.43%
EBIT growth 5Y33.98%
EBIT Next Year95.85%
EBIT Next 3Y40.32%
EBIT Next 5Y24.96%
FCF growth 1Y162.24%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y118.53%
OCF growth 3Y5.08%
OCF growth 5Y44.19%