Equinox Gold Corp. (EQX) vs Oceanagold Corp. (OGC)

Equinox Gold Corp. and Oceanagold Corp. are both Gold companies. Equinox Gold Corp. is the larger, with a market value of $13.2B against $6.1B — 2.2× the size. Oceanagold Corp. trades at the lower P/E: 7.1× against 10.9×. Equinox Gold Corp. grew revenue faster over the last twelve months: 86.3% against 57.4%. Oceanagold Corp. has the higher net margin (35.1% vs 28.1%) and the higher return on invested capital (33.7% vs 10.1%). Both pay a dividend; Oceanagold Corp. yields more (0.65% vs 0.46%). Across the 21 metrics below, Oceanagold Corp. leads on 19 and Equinox Gold Corp. on 2.

Valuation

Metric EQX OGC Gold median
P/E 10.91 7.13 17.98
P/S 3.10 2.50 3.83
P/B 1.41 2.33 2.42
Price to free cash flow 34.18 8.32 15.50
EV/EBITDA 6.38 3.95 6.72
EV/Sales 3.13 2.25 3.73
Earnings yield 9.16% 14.03% 1.19%
Free cash flow yield 2.93% 12.02% 0.81%

Profitability

Metric EQX OGC Gold median
Gross margin 43.65% 64.20% 49.13%
Operating margin 35.93% 44.15% 21.90%
Net margin 28.09% 35.14% 9.65%
Free cash flow margin 9.05% 30.01% 0.00%
Return on equity 13.96% 36.27% 0.12%
Return on assets 8.21% 27.12% 0.10%
Return on invested capital 10.05% 33.68% 0.26%

Growth

Metric EQX OGC Gold median
Revenue growth (TTM) 86.32% 57.38% 68.15%
EPS growth (last fiscal year) (51.39%) 247.97% 60.15%
Revenue growth, 5-year CAGR 16.54% — 15.33%
Net income growth, 5-year CAGR 58.29% — 0.00%

Health

Metric EQX OGC Gold median
Debt to equity 0.09 0.01 0.03
Current ratio 1.33 1.63 3.34
Net debt to EBITDA 1.24 (0.45) (0.15)

Dividend

Metric EQX OGC Gold median
Dividend yield 0.46% 0.65% 0.79%
Payout ratio 0.05 0.05 0.15

Size

Metric EQX OGC Gold median
Market cap 13.17b 6.11b 1.12b

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