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EQUINOX GOLD CORP (EQX) Stock Fundamental Analysis

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

5.8  -0.04 (-0.68%)

After market: 5.88 +0.08 (+1.38%)

Fundamental Rating

4

Overall EQX gets a fundamental rating of 4 out of 10. We evaluated EQX against 154 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 may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

EQX had positive earnings in the past year.
In the past year EQX had a positive cash flow from operations.
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

Looking at the Return On Assets, with a value of 4.60%, EQX is in the better half of the industry, outperforming 74.03% of the companies in the same industry.
EQX has a better Return On Equity (9.23%) than 75.32% of its industry peers.
EQX has a Return On Invested Capital (3.40%) which is comparable to the rest of the industry.
EQX had an Average Return On Invested Capital over the past 3 years of 1.45%. This is significantly below the industry average of 11.67%.
The 3 year average ROIC (1.45%) for EQX is below the current ROIC(3.40%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.6%
ROE 9.23%
ROIC 3.4%
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 (18.07%) than 87.66% of its industry peers.
EQX's Profit Margin has declined in the last couple of years.
With a decent Operating Margin value of 15.14%, EQX is doing good in the industry, outperforming 70.13% of the companies in the same industry.
EQX's Operating Margin has declined in the last couple of years.
EQX's Gross Margin of 35.26% is fine compared to the rest of the industry. EQX outperforms 77.27% of its industry peers.
In the last couple of years the Gross Margin of EQX has declined.
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 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

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
EQX has more shares outstanding than it did 5 years ago.
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

Based on the Altman-Z score of 0.97, we must say that EQX is in the distress zone and has some risk of bankruptcy.
EQX has a worse Altman-Z score (0.97) than 76.62% of its industry peers.
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.
With a Debt to FCF ratio value of 181.84, EQX perfoms like the industry average, outperforming 56.49% of the companies in the same industry.
EQX has a Debt/Equity ratio of 0.38. This is a healthy value indicating a solid balance between debt and equity.
EQX's Debt to Equity ratio of 0.38 is on the low side compared to the rest of the industry. EQX is outperformed by 68.83% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.38
Debt/FCF 181.84
Altman-Z 0.97
ROIC/WACC0.39
WACC8.8%
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 0.85 indicates that EQX may have some problems paying its short term obligations.
The Current ratio of EQX (0.85) is worse than 86.36% 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 89.61% of its industry peers.
Industry RankSector Rank
Current Ratio 0.85
Quick Ratio 0.5
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

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.
The Revenue has grown by 54.87% in the past year. This is a very strong growth!
Measured over the past years, EQX shows a very strong growth in Revenue. The Revenue has been growing by 39.98% on average per year.
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

Based on estimates for the next years, EQX will show a very strong growth in Earnings Per Share. The EPS will grow by 21.03% on average per year.
The Revenue is expected to decrease by -6.79% on average over the next years.
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.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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

7

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 34.12, the valuation of EQX can be described as expensive.
Based on the Price/Earnings ratio, EQX is valued a bit cheaper than the industry average as 61.69% of the companies are valued more expensively.
EQX's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.45.
The Price/Forward Earnings ratio is 4.33, which indicates a rather cheap valuation of EQX.
EQX's Price/Forward Earnings ratio is rather cheap when compared to the industry. EQX is cheaper than 96.10% of the companies in the same industry.
EQX is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.90, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 34.12
Fwd PE 4.33
EQX Price Earnings VS Forward Price EarningsEQX Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

82.47% of the companies in the same industry are more expensive than EQX, based on the Enterprise Value to EBITDA ratio.
EQX's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 345.33
EV/EBITDA 7.3
EQX Per share dataEQX EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6

4.3 Compensation for Growth

EQX's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
EQX has a very decent profitability rating, which may justify a higher PE ratio.
EQX's earnings are expected to grow with 82.44% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y152.51%
EPS Next 3Y82.44%

0

5. Dividend

5.1 Amount

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

EQUINOX GOLD CORP

NYSEARCA:EQX (7/3/2025, 7:20:20 PM)

After market: 5.88 +0.08 (+1.38%)

5.8

-0.04 (-0.68%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-05 2025-08-05/amc
Inst Owners61.01%
Inst Owner Change5.85%
Ins Owners5.45%
Ins Owner ChangeN/A
Market Cap2.65B
Analysts80
Price Target12.24 (111.03%)
Short Float %8.06%
Short Ratio2.18
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)-22.58%
PT rev (3m)6.67%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.24%
EPS NY rev (1m)0%
EPS NY rev (3m)1.19%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-6.95%
Valuation
Industry RankSector Rank
PE 34.12
Fwd PE 4.33
P/S 1.56
P/FCF 345.33
P/OCF 6.47
P/B 0.8
P/tB 0.8
EV/EBITDA 7.3
EPS(TTM)0.17
EY2.93%
EPS(NY)1.34
Fwd EY23.09%
FCF(TTM)0.02
FCFY0.29%
OCF(TTM)0.9
OCFY15.45%
SpS3.72
BVpS7.29
TBVpS7.29
PEG (NY)0.1
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.6%
ROE 9.23%
ROCE 4.3%
ROIC 3.4%
ROICexc 3.5%
ROICexgc 3.5%
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)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-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 0.97
F-Score5
WACC8.8%
ROIC/WACC0.39
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%