EQXEquinox Gold Corp.
Is it safe?
Mostly sound, with a caveat: comfortable debt (AA), but big price swings.
Rock-solid balance sheet, low leverage. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -81% · now 39% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can EQX take a bad year?
Equinox Gold Corp. carries $1.12B of net debt at 1.46× EBITDA: a load its earnings can carry.
Net debt · as at FY2025 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 1.46×
Net debt / EBITDA · 4.24× a year ago · the load is coming down
- Interest cover
- 2.41×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 58%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtFY2025
- $1.55B
- Cash and short-term investments
- $430M
- Net debt
- $1.12B
- EBITDA, trailing twelve months
- $772M
- Operating profit, trailing twelve months
- $432M
- Debt / equity
- 0.27×
- Total debt / EBITDA
- 2.01×
- Annualised volatilitytwo years of daily moves
- 58%
- Worst drawdown on file
- −81%
- Below its 52-week high
- 39%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.