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Equinox Gold Corp.

EQX Basic Materials Gold

Equinox Gold Corp.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 99.1% from fiscal 2024.

Revenue
+169.3%
EPS
+480.0%
Free cash flow
−103.6%
Total debt
−67.3%

Quarter to June 2026, against a year earlier

11.35 0.07 +0.62%
Market cap
$13.2B
P/E
10.9×
Fwd P/E
9.3×
Dividend yield
0.46%
F-score
7/9
Altman Z
1.62
Beneish M
−2.57
Dividend safety
66/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 13,170.00
Revenue ttm 2,897.06
Net income ttm 813.83
Free cash flow ttm 262.30
Net debt Q 101.42
Valuation
P/E 10.91
Forward P/E 9.34
Price / sales 3.10
Forward P/S Powerpack
Price / FCF 34.18
Price / book 1.41
Financial health
Current ratio Q 1.33
Debt / equity Q 0.09 (at or below 0.5: strong)
Interest coverage Q 20.39
Growth
Revenue growth Q +169.33% (above 0%: growing)
Operating income growth Q +544.97% (above 0%: growing)
EPS, this year +53.33% (at or above 15%: strong)
EPS, next year A +35.50% (at or above 15%: strong)
Revenue, next year A +117.81% (at or above 10%: strong)
EPS, past 5 yrs +28.47% (at or above 15%: strong)
EPS, next 5 yrs A +39.64% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.1×, against a ten-year median of 2.4×; over the ten years it ranged from 1.3× in 2022 to 7.0× in 2026.
P/E against its own 10 years 43.29%
10-year low 10-year high
P/S against its own 10 years 76.77%
10-year low 10-year high
P/B against its own 10 years 73.11%
10-year low 10-year high
EV/Sales against its own 10 years 71.95%
10-year low 10-year high

Dividends

Yield
0.46%
Annual rate
0.05
Payout ratio
5.25%
  1. 0.05 ’26
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 302 245 570 482
Receivables 82 70 65 74
Inventory 412 418 370 436
Other 2 7 11 2
834 784 1,971 1,030
2023 2024 2025 Q'26
Payables 247 258 302 327
ST’ Debt 139 136 181 29
Other 55 169 267 231
480 689 1,262 774

Compound Annual Growth %

10y 5y 3y
Sales — 16.54% 24.04%
Cash Flow — 26.19% 143.80%
Earnings — 58.29% 0.00%
Book Value — 31.96% 35.07%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.15 Actual 0.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.11 0.19 Beat by 0.08
Dec 2025 0.23 0.21 Miss by 0.02
Mar 2026 0.29 0.28 Miss by 0.01
Jun 2026 0.15 0.15 Met by 0.00
Sep 2026 0.25 — Reports 9 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.39 0.25 — — —
’25 (0.17) 0.05 0.11 0.25 0.35
’24 (0.13) 0.76 0.00 0.06 0.72
’23 0.05 0.02 0.01 0.01 0.09
’22 (0.07) (0.26) (0.10) 0.07 (0.35)
’21 0.14 0.96 (0.03) 0.32 1.67
’20 0.04 (0.26) 0.01 0.31 0.10
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 862 770 — — —
’25 266 286 819 447 1,817
’24 241 269 428 575 913
’23 234 272 285 298 1,088
’22 223 225 245 259 952
’21 230 226 245 381 1,082
’20 130 215 244 253 845
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 237 203 — — —
’25 54 133 241 390 818
’24 18 (33) 139 248 372
’23 143 20 69 126 358
’22 (16) (27) 54 46 56
’21 79 21 65 155 321
’20 3 94 69 51 256
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 52 (1) — — —
’25 (39) 37 5 206 209
’24 (87) (121) (689) 113 (784)
’23 15 (91) (78) (11) (165)
’22 (140) (116) (97) (94) (447)
’21 8 27 (16) 48 67
’20 24 55 23 3 143
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1 — 29 282 845 1,082 952 1,088 913 1,817 2,897 +138.0% 3,958 5,052 5,832 +47.5%
Gross margin, % (300.00) 0.00 (17.95) 29.77 34.33 21.31 8.92 10.02 22.58 35.38 43.65 +335.4 pt
EBT (3) (13) (35) (13) 43 535 (98) 15 533 131 818 n/m
EBT margin, % (400.00) 0.00 (123.08) (4.68) 5.10 49.44 (10.33) 1.36 58.42 7.23 28.24 +407.2 pt
Net income (2) 0 0 (20) 22 555 (106) 29 339 221 814 n/m
Per share, $
Per share, $ Revenue 0.15 0.00 0.31 2.52 3.98 3.80 3.13 3.48 2.28 2.88 3.67 +39.1%
Earnings (0.44) (0.58) (0.68) (0.16) 0.10 1.95 (0.35) 0.09 0.85 0.35 1.04 n/m
Cash flow (1.37) (0.93) (0.24) 0.53 1.20 1.13 0.19 1.15 0.93 1.30 1.36 n/m
Capex 0.00 0.00 0.00 (0.86) (0.53) (0.89) (1.66) (1.67) (2.89) (0.97) (1.02) n/m
Free cash flow (1.37) (0.93) (0.24) (0.33) 0.67 0.24 (1.47) (0.53) (1.96) 0.33 0.33 n/m
Book value 13.19 11.56 4.31 3.60 6.82 9.07 7.74 7.81 8.49 9.19 8.06 (3.9%)
Shares, m 5 31 92 112 212 285 304 313 400 630 745 +71.2%
Valuation, ×
Valuation, × P/E 0.00 — 0.00 0.00 63.13 4.09 0.00 48.40 6.04 58.50 10.91 20.0
P/S 0.00 — 0.00 0.00 2.97 1.78 1.14 1.35 1.33 4.87 3.10 1.5
P/B 0.00 — 0.00 2.16 1.73 0.75 0.46 0.60 0.59 1.53 1.41 0.9
EV/Sales 0.00 — 0.00 0.00 3.21 1.66 1.75 1.92 2.05 5.41 3.13 1.8
EV/FCF 0.00 — 0.00 0.00 25.63 26.80 (3.72) (12.70) (3.97) 47.00 34.57 8.8
Cash, $m
Cash, $m Operating cash flow (7) (29) (22) 60 256 321 56 358 372 818 1,071 n/m
Capex 0 (22) (98) (97) (113) (254) (504) (523) (1,156) (609) (809) +183.2%
Free cash flow (7) (29) (22) (37) 143 67 (447) (165) (784) 209 262 n/m
Balance, $m
Balance, $m Working capital 44 51 18 17 423 761 383 354 95 709 255 +36.0%
Net debt (41) (22) 154 196 197 (130) 576 623 1,102 985 101 n/m
Shareholders’ equity 66 358 396 403 1,449 2,585 2,352 2,442 3,398 5,795 6,369 +64.4%
Returns, %
Returns, % ROA (0.77) (41.06) 0.00 (3.95) 1.27 16.71 (2.71) 0.70 6.13 2.57 8.21 +3.3 pt
ROIC 0.00 0.00 0.00 5.75 6.57 3.73 0.22 1.01 2.11 3.99 10.05 +4.0 pt
ROE (1.05) (8.67) (16.56) (4.59) 2.41 27.51 (4.30) 1.20 11.62 4.82 13.96 +5.9 pt
People
People Employees — — 491 — 3,433 3,405 3,317 3,692 3,692 5,219 — +40.2%
Revenue/emp, $m 0.00 — 0.06 0.00 0.25 0.32 0.29 0.29 0.25 0.35 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Equinox Gold Corp. vs peers in Gold (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RGLD Royal Gold, Inc. $22.1B 26.4× 19.7× +84.38% (above 0%: growing) +39.58% (above 0%: growing) +97.96% (above 0%: growing) 86.59% 65.35% Compare
CDE Coeur Mining, Inc. $15.0B 15.8× 11.5× +77.37% (above 0%: growing) −73.81% (below 0%: shrinking) +104.47% (above 0%: growing) 0.00% 17.74% Compare
EQX Equinox Gold Corp. $13.2B 10.9× 9.3× +169.33% (above 0%: growing) +480.00% (above 0%: growing) −103.64% (below 0%: shrinking) 39.20% 32.14%
HMY Harmony Gold Mining Company Limited $10.6B 52.0× 4.8× −3.10% (below 0%: shrinking) n/m +265.24% (above 0%: growing) 26.37% 0.00% Compare
BTG B2Gold Corp $7.0B 8.8× 6.0× +14.03% (above 0%: growing) +158.33% (above 0%: growing) +462.54% (above 0%: growing) 39.06% 66.07% Compare
OR OR Royalties Inc. $6.6B 23.4× 21.9× +62.05% (above 0%: growing) +94.12% (above 0%: growing) +61.89% (above 0%: growing) 84.05% 77.00% Compare
OGC Oceanagold Corp. $6.1B 7.1× — +49.70% (above 0%: growing) +95.30% (above 0%: growing) +8.33% (above 0%: growing) 66.77% 48.52% Compare
AUGO Aura Minerals Inc. $6.0B 20.1× 9.4× +76.42% (above 0%: growing) +2,263.64% (above 0%: growing) +0.29% (above 0%: growing) 56.99% 52.18% Compare
SSRM Silver Standard Resources Inc. $5.6B 22.8× 10.1× +16.02% (above 0%: growing) +23.00% (above 0%: growing) −152.32% (below 0%: shrinking) 58.21% 27.29% Compare
Median of peers $6.8B 21.5× 10.1× +55.88% +94.12% +79.93% 57.60% 50.35%

All 46 Gold stocks →

Equinox Gold Corp. (EQX) Latest News

14 Oct

Impact 4 · · Zacks

13 Oct

Impact 4 · · GlobeNewswire

7 Oct

Impact 4 · · Business Wire

1 Oct

Impact 4 · · ACCESS Newswire

29 Sep

Impact 4 · · MarketBeat
Impact 4 · · GlobeNewswire
Impact 4 · · Simply Wall St.
Impact 3 ·
Impact 3 · · Simply Wall St.

21 Sep

Impact 3 · · GlobeNewswire

17 Aug

Impact 4 ·

12 Aug

Impact 4 · · The Motley Fool transcript

9 Aug

Impact 3 · · MarketBeat transcript

6 Aug

Impact 4 ·
Impact 3 ·
Impact 3 · · Moby transcript

5 Aug

Impact 4 ·

31 Jul

Impact 5 ·
Impact 5 ·

28 Jul

Impact 4 ·

23 Jul

Impact 4 · · MarketBeat

22 Jul

Impact 4 ·
Impact 4 ·

12 Jul

Impact 3 ·

10 Jul

Impact 4 ·
Impact 4 ·

9 Jul

Impact 4 ·

4 Jul

Impact 4 ·

29 Jun

Impact 4 ·

25 Jun

Impact 4 · · MT Newswires

EQX metrics, ten years each

stockrow.com/EQX · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com