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EQUINOX GOLD CORP (EQX) Stock Fundamental Analysis

NYSEARCA:EQX - NYSE Arca - CA29446Y5020 - Common Stock - Currency: USD

6.82  -0.34 (-4.75%)

After market: 7 +0.18 (+2.64%)

Fundamental Rating

3

Taking everything into account, EQX scores 3 out of 10 in our fundamental rating. EQX was compared to 150 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 valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year EQX was profitable.
EQX had a positive operating cash flow in the past year.
In multiple years EQX reported negative net income over the last 5 years.
EQX had a positive operating cash flow in 4 of the past 5 years.
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 0 200M -200M 400M -400M

1.2 Ratios

EQX's Return On Assets of 3.59% is fine compared to the rest of the industry. EQX outperforms 71.33% of its industry peers.
EQX's Return On Equity of 7.55% is fine compared to the rest of the industry. EQX outperforms 72.03% of its industry peers.
The Return On Invested Capital of EQX (1.53%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for EQX is significantly below the industry average of 8.84%.
Industry RankSector Rank
ROA 3.59%
ROE 7.55%
ROIC 1.53%
ROA(3y)3.97%
ROA(5y)2.11%
ROE(3y)6.05%
ROE(5y)3.02%
ROIC(3y)1.62%
ROIC(5y)3.47%
EQX Yearly ROA, ROE, ROICEQX Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20

1.3 Margins

EQX has a better Profit Margin (19.82%) than 89.51% of its industry peers.
EQX's Profit Margin has been stable in the last couple of years.
EQX has a Operating Margin of 9.34%. This is in the better half of the industry: EQX outperforms 62.24% of its industry peers.
EQX's Operating Margin has declined in the last couple of years.
EQX has a Gross Margin of 31.36%. This is in the better half of the industry: EQX outperforms 72.03% of its industry peers.
In the last couple of years the Gross Margin of EQX has declined.
Industry RankSector Rank
OM 9.34%
PM (TTM) 19.82%
GM 31.36%
OM growth 3Y-41.94%
OM growth 5YN/A
PM growth 3Y0.23%
PM growth 5YN/A
GM growth 3Y-15.83%
GM growth 5Y-4.21%
EQX Yearly Profit, Operating, Gross MarginsEQX Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 0 -100 -200 -300

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1

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), EQX is destroying value.
There is no outstanding debt for EQX. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
EQX Yearly Shares OutstandingEQX Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M
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 1B 2B 3B 4B

2.2 Solvency

EQX has an Altman-Z score of 0.88. This is a bad value and indicates that EQX is not financially healthy and even has some risk of bankruptcy.
EQX has a worse Altman-Z score (0.88) than 76.22% of its industry peers.
A Debt/Equity ratio of 0.37 indicates that EQX is not too dependend on debt financing.
EQX's Debt to Equity ratio of 0.37 is on the low side compared to the rest of the industry. EQX is outperformed by 69.23% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.37
Debt/FCF N/A
Altman-Z 0.88
ROIC/WACC0.16
WACC9.62%
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 0 1B 2B

2.3 Liquidity

A Current Ratio of 0.85 indicates that EQX may have some problems paying its short term obligations.
EQX has a worse Current ratio (0.85) than 88.11% 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.
EQX's Quick ratio of 0.33 is on the low side compared to the rest of the industry. EQX is outperformed by 94.41% of its industry peers.
Industry RankSector Rank
Current Ratio 0.85
Quick Ratio 0.33
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 200M 400M 600M 800M 1B

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3

3. Growth

3.1 Past

The earnings per share for EQX have been decreasing by -18.64% on average. This is quite bad
EPS 1Y (TTM)N/A
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%1600%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%93.08%

3.2 Future

The Earnings Per Share is expected to grow by 10.34% on average over the next years. This is quite good.
The Revenue is expected to grow by 13.82% on average over the next years. This is quite good.
EPS Next Y374.63%
EPS Next 2Y145.33%
EPS Next 3Y86.56%
EPS Next 5Y10.34%
Revenue Next Year52.06%
Revenue Next 2Y27.06%
Revenue Next 3Y12.32%
Revenue Next 5Y13.82%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
EQX Yearly Revenue VS EstimatesEQX Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 500M 1B 1.5B 2B 2.5B
EQX Yearly EPS VS EstimatesEQX Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 0 0.5 1 1.5

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 32.48, the valuation of EQX can be described as expensive.
EQX's Price/Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Earnings ratio of 29.63, EQX is valued at the same level.
EQX is valuated cheaply with a Price/Forward Earnings ratio of 6.84.
Based on the Price/Forward Earnings ratio, EQX is valued cheaply inside the industry as 91.61% of the companies are valued more expensively.
EQX's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 22.68.
Industry RankSector Rank
PE 32.48
Fwd PE 6.84
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

EQX's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.96
EQX Per share dataEQX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 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 86.56% in the coming years.
PEG (NY)0.09
PEG (5Y)N/A
EPS Next 2Y145.33%
EPS Next 3Y86.56%

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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 (2/21/2025, 8:16:00 PM)

After market: 7 +0.18 (+2.64%)

6.82

-0.34 (-4.75%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-19 2025-02-19/bmo
Earnings (Next)05-06 2025-05-06/amc
Inst Owners59.41%
Inst Owner Change15.01%
Ins Owners5.43%
Ins Owner ChangeN/A
Market Cap3.11B
Analysts80
Price Target11.48 (68.33%)
Short Float %5.18%
Short Ratio3.11
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)4.86%
Min EPS beat(2)-24.27%
Max EPS beat(2)33.99%
EPS beat(4)3
Avg EPS beat(4)48.52%
Min EPS beat(4)-24.27%
Max EPS beat(4)139.6%
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)0
Avg Revenue beat(2)-8.02%
Min Revenue beat(2)-12.93%
Max Revenue beat(2)-3.12%
Revenue beat(4)0
Avg Revenue beat(4)-9.28%
Min Revenue beat(4)-13.9%
Max Revenue beat(4)-3.12%
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)7.14%
PT rev (3m)7.14%
EPS NQ rev (1m)3.41%
EPS NQ rev (3m)-13.61%
EPS NY rev (1m)-30.36%
EPS NY rev (3m)-30.36%
Revenue NQ rev (1m)2.34%
Revenue NQ rev (3m)0.26%
Revenue NY rev (1m)0.25%
Revenue NY rev (3m)-0.5%
Valuation
Industry RankSector Rank
PE 32.48
Fwd PE 6.84
P/S 2.51
P/FCF N/A
P/OCF 12.42
P/B 0.96
P/tB 0.96
EV/EBITDA 13.96
EPS(TTM)0.21
EY3.08%
EPS(NY)1
Fwd EY14.61%
FCF(TTM)-0.45
FCFYN/A
OCF(TTM)0.55
OCFY8.05%
SpS2.71
BVpS7.13
TBVpS7.13
PEG (NY)0.09
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 3.59%
ROE 7.55%
ROCE 1.93%
ROIC 1.53%
ROICexc 1.57%
ROICexgc 1.57%
OM 9.34%
PM (TTM) 19.82%
GM 31.36%
FCFM N/A
ROA(3y)3.97%
ROA(5y)2.11%
ROE(3y)6.05%
ROE(5y)3.02%
ROIC(3y)1.62%
ROIC(5y)3.47%
ROICexc(3y)1.87%
ROICexc(5y)3.96%
ROICexgc(3y)1.87%
ROICexgc(5y)3.96%
ROCE(3y)2.05%
ROCE(5y)4.4%
ROICexcg growth 3Y-47.11%
ROICexcg growth 5YN/A
ROICexc growth 3Y-47.11%
ROICexc growth 5YN/A
OM growth 3Y-41.94%
OM growth 5YN/A
PM growth 3Y0.23%
PM growth 5YN/A
GM growth 3Y-15.83%
GM growth 5Y-4.21%
F-Score6
Asset Turnover0.18
Health
Industry RankSector Rank
Debt/Equity 0.37
Debt/FCF N/A
Debt/EBITDA 3.7
Cap/Depr 215.04%
Cap/Sales 36.75%
Interest Coverage 1.26
Cash Conversion 76.54%
Profit Quality N/A
Current Ratio 0.85
Quick Ratio 0.33
Altman-Z 0.88
F-Score6
WACC9.62%
ROIC/WACC0.16
Cap/Depr(3y)236.96%
Cap/Depr(5y)215.01%
Cap/Sales(3y)46.13%
Cap/Sales(5y)38.74%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)N/A
EPS 3Y-18.64%
EPS 5YN/A
EPS Q2Q%1600%
EPS Next Y374.63%
EPS Next 2Y145.33%
EPS Next 3Y86.56%
EPS Next 5Y10.34%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%93.08%
Revenue Next Year52.06%
Revenue Next 2Y27.06%
Revenue Next 3Y12.32%
Revenue Next 5Y13.82%
EBIT growth 1Y207.41%
EBIT growth 3Y-36.84%
EBIT growth 5YN/A
EBIT Next Year1197.1%
EBIT Next 3Y209.11%
EBIT Next 5Y102.13%
FCF growth 1Y43.03%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y50.44%
OCF growth 3Y11.91%
OCF growth 5YN/A