Equinox Gold Corp. (EQX) vs Royal Gold, Inc. (RGLD)

Equinox Gold Corp. and Royal Gold, Inc. are both Gold companies. Royal Gold, Inc. is the larger, with a market value of $19.7B against $13.0B — 1.5× the size. Equinox Gold Corp. trades at the lower P/E: 10.7× against 26.0×. Equinox Gold Corp. grew revenue faster over the last twelve months: 203.8% against 93.5%. Royal Gold, Inc. has the higher net margin (47.8% vs 28.1%) and the lower return on invested capital (7.57% vs 10.1%). Both pay a dividend; Royal Gold, Inc. yields more (0.80% vs 0.47%). Across the 23 metrics below, Royal Gold, Inc. leads on 12 and Equinox Gold Corp. on 11.

Valuation

Metric EQX RGLD Gold median
P/E 10.72 25.98 22.25
P/S 3.04 13.06 4.90
P/B 1.38 2.65 2.65
Price to free cash flow 33.58 15.43 17.98
EV/EBITDA 6.27 16.37 6.74
EV/Sales 3.08 13.23 4.80
Earnings yield 9.33% 3.85% 1.54%
Free cash flow yield 2.98% 6.48% 0.92%

Profitability

Metric EQX RGLD Gold median
Gross margin 43.65% 86.90% 50.00%
Operating margin 35.93% 61.42% 26.32%
Net margin 28.09% 47.76% 12.30%
Free cash flow margin 9.05% 67.51% 0.00%
Return on equity 13.96% 13.49% 0.00%
Return on assets 8.21% 11.35% 0.00%
Return on invested capital 10.05% 7.57% 0.52%

Growth

Metric EQX RGLD Gold median
Revenue growth (TTM) 203.80% 93.51% 68.15%
EPS growth (last fiscal year) (51.39%) 32.74% 50.00%
Revenue growth, 5-year CAGR 16.54% 10.84% 16.12%
Net income growth, 5-year CAGR 58.29% 9.08% 0.00%

Health

Metric EQX RGLD Gold median
Debt to equity 0.09 0.05 0.10
Current ratio 1.33 2.92 3.08
Net debt to EBITDA 1.24 0.81 0.00

Dividend

Metric EQX RGLD Gold median
Dividend yield 0.47% 0.80% 0.87%
Payout ratio 0.05 0.21 0.15

Size

Metric EQX RGLD Gold median
Market cap 12.97b 19.74b 1.62b

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