Equinox Gold Corp.
Equinox Gold Corp. is a Canadian gold mining company focused on the acquisition, exploration, development, and operation of mineral properties across the Americas. The company’s portfolio centers on gold production and includes operating mines, development assets, and expansion projects in Canada, the United States, Mexico, Nicaragua, and Brazil. Its business is organized around building and running long-life gold operations, with activity spanning mine development, processing, and ongoing exploration to extend mineral resources. Equinox Gold also produces silver as a byproduct at some operations, complementing its core gold-focused model. Headquartered in Vancouver, Canada, Equinox Gold serves the broader precious metals market by supplying mined gold to industrial users, refiners, and market participants through its operating assets and project pipeline.
$11.04
-$0.02 (-0.18%)
EOD Oct 21, 2026
23.79% operating margin is above average. ROIC at 3.54%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue up 20.0% YoY with margins expanding 8.1pp.
Net debt of $1.06B represents 8.4x FCF, leverage limits flexibility.
11.3x earnings, 51.2x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$2.55B
▲ +20.0% YoY
Net Income (TTM)
$814M
▼ -34.7% YoY
Op. Margin
38.12%
▲ +8.1pp YoY
ROIC
3.54%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$179M
▲ +415.9% YoY
Op. Cash Flow (TTM)
$1.07B
▲ +171.0% YoY
Net Debt
$1.06B
Cash & Equiv.
$570M
3Y CAGR: +24.0%
Continue Research
Is Equinox Gold (EQX) overvalued?
At a P/E of 11.3 and a price-to-free-cash-flow of 51.2, Equinox Gold (EQX) trades above a two-stage DCF intrinsic value of about $9.62 per share, so at $11.04 the stock looks overvalued (12.9% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Equinox Gold scores 54/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 0.3%; see dividend safety for coverage and history. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Equinox Gold's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $9.62 per share for EQX, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $7.21. At today's $11.04, that puts the stock about 12.9% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Equinox Gold a high-quality business?+
Equinox Gold scores 54 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 38.1% operating margin and a 3.5% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Does Equinox Gold (EQX) pay a dividend, and how much?+
Yes, Equinox Gold pays a regular dividend of about $0.03 per share per year (typically in quarterly installments), a yield of roughly 0.3% at the current price. That is a payout ratio of about 3.1% of earnings, so the dividend is amply covered by earnings. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For EQX's full payout history, growth streak and dividend-safety score, see the dividends tab.
Is Equinox Gold a good stock to buy right now?+
That depends on valuation and quality together, not either alone. EQX currently trades above its estimated intrinsic value and scores 54/100 on quality (mixed). It also yields about 0.3%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Gold
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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