Is the business good?
How good a business is EQX?
Equinox Gold Corp. earns 4.9% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
4.9%
Return on invested capital · cost of capital 9.0% · 4.1 points below what the capital costs: growth destroys value
- Operating margin
- 24%
Operating margin · Gold median 39% · fiscal year to FY2025
- Cash conversion
- 0.57×
Cash conversion · −0.12× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +33%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 20% |
| FY2021 | 14% |
| FY2022 | 1.1% |
| FY2023 | 4.6% |
| FY2024 | 17% |
| FY2025 | 24% |
Details›
- Gross marginfiscal year to FY2025
- 35%
- Operating marginfiscal year to FY2025
- 24%
- Net marginfiscal year to FY2025
- 12%
- Free cash flow margin
- 6.9%
- Revenue, trailing twelve months
- $1.82B
- Free cash flow, trailing twelve months
- $126M
- Net income, trailing twelve months
- $221M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.