Equinox Gold Corp. (EQX.TO) stock analysis

In our weekly check, Equinox Gold Corp. is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 16 pass, warnings: 2, red flags: 6.

About Equinox Gold Corp.

Equinox Gold Corp. is a Basic Materials company (Gold) based in Canada, listed on TSX as EQX.TO.

What our checks show for EQX.TO

Red flags

• The net margin fell by 24.9 points over 5 years, to 26.4%: the company keeps less of each sale as profit.
• Analysts expect the net margin to shrink by 6.5 points from today's 26.4%.
• The price swings a lot: 61.9% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 82% from a peak. Would you have held through that?
• Beta 2.51: the stock usually moves more than the market, both up and down.
• The share count grew by 102% in 2 years: each shareholder owns a smaller slice.

Warning signs

• Free cash flow is only 3.5% of revenue.
• Recovering from its deepest fall took about 3 years.

Strengths

• Net debt is only 0.2x a year of EBITDA: the balance sheet has room.
• Operating profit covers interest 8.5 times over.
• The gross margin is 43.1% and has risen by 23.2 points: pricing power is holding.
• Operating cash flow is 1.22x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 21.4% a year over the next years.
• Analysts expect revenue to grow about 31.8% a year over the next years.

Next earnings report: 2026-11-09

Similar companies

AGI · CDE · IAG · PAAS · EGO · RGLD

Questions

What grade does Equinox Gold Corp. (EQX.TO) have?

In our weekly check, Equinox Gold Corp. is graded B (A to F). Of 24 checks on debt, profit, cash flow and trend: 16 pass, warnings: 2, red flags: 6. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of EQX.TO stock?

This week's biggest flags for Equinox Gold Corp.: Margins falling, Margins expected to shrink, Very volatile. In total 8 of 24 checks show a warning or a red flag.

What does Equinox Gold Corp. do?

Equinox Gold Corp. is a Basic Materials company (Gold) based in Canada, listed on TSX as EQX.TO.

When does Equinox Gold Corp. report earnings next?

The next earnings report is expected on 2026-11-09. We re-run the checks every week, so the grade can change after it.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

Open the full analysis