NYSEAMERICAN : EQX
Equinox Gold Corp. — Financial statements
Materials · Gold · Canada
Last price 9.7 USD (Oct 30, 2026, 4:00 PM) · Market cap 11.34B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Equinox Gold Corp. (EQX) reported revenue of 2.90B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.90B | 1.82B | 912.84M | 1.09B | 952.20M | 1.08B |
| Cost of Revenue | 1.23B | 867.09M | 597.50M | 765.66M | 689.53M | 667.98M |
| Gross Profit | 1.67B | 950.11M | 315.34M | 322.53M | 262.67M | 414.31M |
| Selling, General & Admin | 100.87M | 100.09M | 51.41M | 46.24M | 46.68M | 50.19M |
| Operating Expenses | 600.96M | 450.67M | 162.84M | 272.91M | 252.28M | 263.33M |
| Operating Income | 1.07B | 499.44M | 152.50M | 49.62M | 10.39M | 150.97M |
| Interest Expense | -132.76M | -179.29M | -91.30M | -60.20M | -40.35M | -41.55M |
| Interest & Investment Income | 13.62M | 10.95M | 7.07M | 11.69M | 5.61M | 2.82M |
| Earnings From Equity Investments | -17.46M | -6.18M | 735.00K | |||
| Currency Exchange Gain (Loss) | 9.21M | 63.95M | -67.05M | 37.15M | 10.11M | 152.00K |
| Other Non Operating Income (Expenses) | -89.50M | -160.48M | -29.07M | -36.15M | -70.72M | 80.02M |
| EBT Excluding Unusual Items | 868.26M | 234.57M | -27.84M | -15.35M | -91.13M | 193.14M |
| Merger & Restructuring Charges | -9.20M | -9.20M | -800.00K | -2.40M | ||
| Gain (Loss) on Sale of Investments | 579.82M | 34.47M | 281.78M | |||
| Gain (Loss) on Sale of Assets | -12.23M | -12.41M | ||||
| Other Unusual Items | -40.81M | -94.01M | -17.86M | -4.35M | 4.96M | 74.92M |
| Pretax Income | 818.24M | 131.37M | 533.31M | 14.77M | -98.41M | 535.03M |
| Income Tax Expense | 324.41M | 150.23M | 273.02M | -14.12M | 7.62M | -19.85M |
| Earnings From Continuing Operations | 493.84M | -18.86M | 260.29M | 28.88M | -106.03M | 554.89M |
| Earnings From Discontinued Operations | 320.00M | 240.33M | 78.99M | |||
| Net Income to Company | 813.83M | 221.47M | 339.29M | 28.88M | -106.03M | 554.89M |
| Net Income | 813.83M | 221.47M | 339.29M | 28.88M | -106.03M | 554.89M |
| Net Income to Common | 813.83M | 221.47M | 339.29M | 28.88M | -106.03M | 554.89M |
| Shares Outstanding (Basic) | 786.16M | 630.31M | 400.11M | 312.77M | 304.00M | 284.93M |
| Shares Outstanding (Diluted) | 806.40M | 630.31M | 473.55M | 316.30M | 304.00M | 333.73M |
| EPS (Basic) | 1.04 | 0.35 | 0.85 | 0.09 | -0.35 | 1.95 |
| EPS (Diluted) | 0.98 | 0.35 | 0.75 | 0.09 | -0.35 | 1.69 |
| Free Cash Flow | 179.07M | 126.00M | -39.89M | -164.84M | -500.60M | -74.35M |
| Free Cash Flow Per Share | 0.22 | 0.20 | -0.08 | -0.52 | -1.65 | -0.22 |
| Gross Margin | 57.60% | 52.28% | 34.54% | 29.64% | 27.59% | 38.28% |
| Operating Margin | 36.85% | 27.48% | 16.71% | 4.56% | 1.09% | 13.95% |
| Profit Margin | 28.09% | 12.19% | 37.17% | 2.65% | -11.13% | 51.27% |
| Free Cash Flow Margin | 6.18% | 6.93% | -4.37% | -15.15% | -52.57% | -6.87% |
| EBITDA | 1.69B | 984.80M | 353.56M | 244.19M | 183.52M | 333.20M |
| EBITDA Margin | 58.31% | 54.19% | 38.73% | 22.44% | 19.27% | 30.79% |
| D&A For EBITDA | 621.67M | 485.36M | 201.06M | 194.57M | 173.13M | 182.23M |
| EBIT | 1.07B | 499.44M | 152.50M | 49.62M | 10.39M | 150.97M |
| EBIT Margin | 36.85% | 27.48% | 16.71% | 4.56% | 1.09% | 13.95% |
| Effective Tax Rate | 39.65% | 114.36% | 51.19% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 317.78M | 407.36M | 239.33M | 192.00M | 200.77M | 305.50M |
| Short-Term Investments | 163.79M | 162.68M | 6.14M | 92.67M | 36.87M | 240.53M |
| Cash & Short-Term Investments | 481.58M | 570.04M | 245.47M | 284.66M | 237.64M | 546.03M |
| Accounts Receivable | 74.48M | 7.15M | 3.94M | 9.92M | 8.18M | 14.21M |
| Other Receivables | 58.32M | 66.09M | 72.39M | 53.72M | 36.05M | |
| Receivables | 74.48M | 65.47M | 70.03M | 82.31M | 76.10M | 50.26M |
| Inventory | 435.68M | 369.76M | 417.54M | 412.00M | 265.11M | 201.62M |
| Prepaid Expenses | 35.88M | 26.35M | 44.53M | 35.14M | 38.09M | 33.55M |
| Restricted Cash | 2.00M | 2.90M | 2.14M | 1.94M | ||
| Other Current Assets | 2.04M | 936.94M | 3.63M | 17.70M | 36.22M | 331.77M |
| Total Current Assets | 1.03B | 1.97B | 784.11M | 833.96M | 655.10M | 1.16B |
| Property, Plant & Equipment | 7.98B | 7.91B | 5.56B | 3.23B | 2.84B | 2.50B |
| Long-Term Investments | 32.32M | 29.26M | 153.13M | 127.61M | ||
| Long-Term Deferred Tax Assets | 2.34M | 10.58M | ||||
| Other Long-Term Assets | 780.76M | 635.76M | 301.03M | 236.74M | 186.71M | 160.43M |
| Total Assets | 9.79B | 10.54B | 6.71B | 4.35B | 3.86B | 3.97B |
| Accounts Payable | 325.64M | 104.54M | 128.46M | 112.77M | 122.51M | 109.30M |
| Accrued Expenses | 1.71M | 197.88M | 129.88M | 127.36M | 107.92M | 75.21M |
| Current Portion of Long-Term Debt | 66.75M | 217.39M | 151.60M | 142.52M | 1.10M | 26.67M |
| Current Portion of Leases | 25.34M | 25.26M | 19.83M | 26.34M | 21.42M | 18.15M |
| Current Income Taxes Payable | 125.26M | 153.12M | 10.10M | 6.40M | 9.38M | 5.61M |
| Current Unearned Revenue | 62.04M | 127.60M | 116.33M | 39.60M | ||
| Other Current Liabilities | 167.64M | 436.19M | 132.88M | 24.62M | 9.39M | 167.63M |
| Total Current Liabilities | 774.38M | 1.26B | 689.09M | 479.60M | 271.72M | 402.57M |
| Long-Term Debt | 679.78M | 1.52B | 1.30B | 813.53M | 836.54M | 514.01M |
| Long-Term Leases | 67.18M | 73.69M | 60.53M | 20.39M | 14.08M | 26.94M |
| Long-Term Unearned Revenue | 164.60M | 165.13M | 266.72M | 194.53M | ||
| Long-Term Deferred Tax Liabilities | 1.47B | 1.41B | 799.97M | 244.70M | 262.02M | 312.20M |
| Other Long-Term Liabilities | 269.13M | 308.52M | 201.63M | 155.16M | 120.25M | 126.29M |
| Total Liabilities | 3.43B | 4.74B | 3.32B | 1.91B | 1.50B | 1.38B |
| Common Stock | 4.91B | 4.87B | 2.80B | 2.09B | 2.04B | 2.01B |
| Retained Earnings | 1.34B | 820.00M | 613.66M | 348.55M | 326.26M | 446.59M |
| Comprehensive Income & Other | 119.02M | 100.60M | -14.93M | 8.35M | -10.46M | 131.98M |
| Total Common Equity | 6.37B | 5.80B | 3.40B | 2.44B | 2.35B | 2.59B |
| Shareholders' Equity | 6.37B | 5.80B | 3.40B | 2.44B | 2.35B | 2.59B |
| Total Liabilities & Equity | 9.79B | 10.54B | 6.71B | 4.35B | 3.86B | 3.97B |
| Total Debt | 839.05M | 1.84B | 1.53B | 1.00B | 873.14M | 585.78M |
| Net Cash (Debt) | -357.48M | -1.27B | -1.28B | -718.12M | -635.51M | -39.75M |
| Net Cash Per Share | -0.44 | -2.01 | -2.71 | -2.27 | -2.09 | -0.12 |
| Filing Date Shares Outstanding | 1.17B | 788.28M | 456.06M | 323.60M | 312.13M | 302.71M |
| Total Common Shares Outstanding | 789.25M | 785.63M | 455.23M | 318.01M | 307.37M | 301.32M |
| Working Capital | 255.27M | 708.58M | 95.01M | 354.36M | 383.37M | 760.66M |
| Book Value Per Share | 8.07 | 7.38 | 7.46 | 7.68 | 7.65 | 8.58 |
| Tangible Book Value | 6.37B | 5.80B | 3.40B | 2.44B | 2.35B | 2.59B |
| Tangible Book Value Per Share | 8.07 | 7.38 | 7.46 | 7.68 | 7.65 | 8.58 |
| Machinery | 2.77B | 2.54B | 1.89B | 971.88M | 820.53M | 666.24M |
| Construction In Progress | 52.94M | 39.56M | 212.26M | 746.14M | 382.34M | 177.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 813.83M | 221.47M | 339.29M | 28.88M | -106.03M | 554.89M |
| Depreciation & Amortization | 653.83M | 517.52M | 222.62M | 216.12M | 188.84M | 198.13M |
| Loss (Gain) From Sale of Assets | 12.23M | -81.97M | ||||
| Loss (Gain) From Sale of Investments | -579.82M | -34.47M | -186.07M | |||
| Loss (Gain) on Equity Investments | 17.46M | 6.18M | ||||
| Provision & Write-off of Bad Debts | 13.80M | 446.00K | ||||
| Other Operating Activities | 62.02M | 176.12M | 448.11M | 285.64M | 42.63M | -220.86M |
| Change in Accounts Receivable | -1.44M | 13.32M | 6.96M | -27.09M | -14.42M | -3.81M |
| Change in Inventory | -318.48M | -157.79M | -72.37M | -165.70M | -69.61M | 20.22M |
| Change in Accounts Payable | 62.12M | 29.92M | 18.74M | 20.08M | 1.13M | 37.41M |
| Change in Other Net Operating Assets | 169.00K | 17.79M | -11.35M | 3.72M | -4.93M | 2.84M |
| Operating Cash Flow | 1.07B | 818.35M | 372.18M | 358.46M | 56.47M | 320.78M |
| Capital Expenditures | -892.19M | -692.35M | -412.07M | -523.30M | -557.07M | -395.13M |
| Sale of Property, Plant & Equipment | 83.23M | 83.23M | 53.24M | 90.48M | ||
| Cash Acquisitions | 153.11M | -744.11M | 8.27M | |||
| Investment in Securities | 41.15M | 3.02M | 48.19M | 67.28M | 81.26M | -40.86M |
| Other Investing Activities | 3.01M | -5.69M | -3.73M | -6.65M | 3.57M | -10.32M |
| Investing Cash Flow | 80.38M | -458.67M | -1.11B | -462.67M | -419.00M | -347.57M |
| Long-Term Debt Issued | 85.00M | 560.00M | 426.17M | 299.80M | ||
| Long-Term Debt Repaid | -121.37M | -29.49M | -327.72M | -37.18M | -55.29M | |
| Lease Payments | -40.12M | -39.89M | -29.49M | -34.72M | -23.85M | -24.31M |
| Net Debt Issued (Repaid) | -1.08B | -36.37M | 530.51M | 98.45M | 262.62M | -55.29M |
| Issuance of Common Stock | 349.23M | 45.29M | 19.48M | 77.25M | ||
| Other Financing Activities | -128.17M | -135.52M | -87.26M | -51.24M | -27.79M | -23.55M |
| Financing Cash Flow | -1.24B | -171.89M | 792.48M | 92.50M | 254.31M | -1.59M |
| Foreign Exchange Rate Adjustments | -624.00K | 2.90M | -5.61M | 2.94M | -1.09M | -6.47M |
| Net Cash Flow | -66.23M | 190.68M | 47.33M | -8.77M | -109.30M | -34.85M |
| Free Cash Flow | 179.07M | 126.00M | -39.89M | -164.84M | -500.60M | -74.35M |
| Free Cash Flow Margin | 6.18% | 6.93% | -4.37% | -15.15% | -52.57% | -6.87% |
| Free Cash Flow Per Share | 0.22 | 0.20 | -0.08 | -0.52 | -1.65 | -0.22 |
| Levered Free Cash Flow | 288.84M | -305.67M | 79.27M | -372.50M | -292.19M | -283.16M |
| Unlevered Free Cash Flow | 371.81M | -193.62M | 136.34M | -334.87M | -266.97M | -257.19M |
| Free Cash Flow After Leases | 138.96M | 86.11M | -69.38M | -199.56M | -524.45M | -98.66M |
| Cash Interest Paid | 102.16M | 132.58M | 112.65M | 65.86M | 33.59M | 22.11M |
| Cash Income Tax Paid | 275.31M | 129.23M | 19.60M | 13.57M | 22.12M | 24.93M |
| Change in Working Capital | -257.63M | -96.76M | -58.01M | -168.99M | -87.82M | 56.66M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 11.79B | 11.04B | 2.29B | 1.53B | 998.52M | 2.03B |
| Enterprise Value | 12.15B | 12.60B | 3.73B | 2.24B | 1.56B | 2.17B |
| Last Close Price | 10.08 | 13.98 | 5.00 | 4.87 | 3.27 | 6.73 |
| PE Ratio | 10.14 | 49.85 | 6.75 | 52.84 | 3.67 | |
| PS Ratio | 4.07 | 6.08 | 2.51 | 1.40 | 1.05 | 1.88 |
| PB Ratio | 1.85 | 1.91 | 0.67 | 0.62 | 0.42 | 0.79 |
| P/TBV Ratio | 1.85 | 1.91 | 0.67 | 0.62 | 0.42 | 0.79 |
| P/FCF Ratio | 65.84 | 87.62 | ||||
| P/OCF Ratio | 11.01 | 13.49 | 6.16 | 4.26 | 17.68 | 6.34 |
| EV/Sales Ratio | 4.19 | 6.93 | 4.08 | 2.06 | 1.64 | 2.00 |
| EV/EBITDA Ratio | 7.19 | 12.79 | 10.54 | 9.18 | 8.50 | 6.50 |
| EV/EBIT Ratio | 11.38 | 25.23 | 24.43 | 45.19 | 150.07 | 14.34 |
| EV/FCF Ratio | 67.87 | 100.00 | ||||
| Debt / Equity Ratio | 0.13 | 0.32 | 0.45 | 0.41 | 0.37 | 0.23 |
| Debt / EBITDA Ratio | 0.49 | 1.80 | 4.08 | 3.77 | 4.38 | 1.68 |
| Debt / FCF Ratio | 4.69 | 14.57 | ||||
| Net Debt / Equity Ratio | 0.06 | 0.22 | 0.38 | 0.29 | 0.27 | 0.01 |
| Net Debt / EBITDA Ratio | 0.21 | 1.28 | 3.63 | 2.94 | 3.46 | 0.12 |
| Net Debt / FCF Ratio | 2.00 | 10.04 | -32.20 | -4.36 | -1.27 | -0.54 |
| Asset Turnover | 0.29 | 0.21 | 0.17 | 0.27 | 0.24 | 0.33 |
| Inventory Turnover | 2.81 | 2.20 | 1.44 | 2.26 | 2.96 | 3.26 |
| Quick Ratio | 0.72 | 0.50 | 0.46 | 0.77 | 1.10 | 1.48 |
| Current Ratio | 1.33 | 1.56 | 1.14 | 1.74 | 2.41 | 2.89 |
| Return on Equity (ROE) | 8.47% | -0.41% | 8.91% | 1.21% | -4.29% | 27.51% |
| Return on Assets (ROA) | 6.73% | 3.62% | 1.72% | 0.76% | 0.17% | 2.84% |
| Return on Invested Capital (ROIC) | 9.81% | -1.22% | 1.90% | 1.61% | 0.37% | 7.04% |
| Return on Capital Employed (ROCE) | 11.80% | 5.40% | 2.50% | 1.30% | 0.30% | 4.20% |
| Earnings Yield | 9.86% | 2.01% | 14.81% | 1.89% | -10.62% | 27.28% |
| FCF Yield | 1.52% | 1.14% | -1.74% | -10.80% | -50.13% | -3.66% |
| Buyback Yield / Dilution | -75.36% | -33.10% | -49.71% | -4.05% | 8.91% | -52.80% |