Equinox Gold Corp.

EQX.TOTSXBasic Materials● Active

$15.06

$-0.92(-5.76%)

Market Cap$11.9B

P/E Ratio—

52W High$25.87

52W Low$7.71

Avg Volume4.0M

Open$15.50

Beta2.33

Overview

Equinox Gold Corp. (EQX.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

EQX.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

EQX.TO · FCF · TTM · margin & CAGR

Free cash flow was −$6.7M for FY2025 (fiscal year ending 2025-12-31), up 83.2% year-over-year The FCF margin was -0.4%.

FY2025 Free Cash Flow−$6.7M▲ +83.2% YoY

Trailing 12M (TTM)$131.1MTrailing 4Q sum · TTM positive vs latest FY negative

FCF Margin-0.4%−$6.7M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

EQX.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$697.8M(704M)−$6.7M▲ +83.2%-0.4%

FY2024$372.2M(412M)−$39.9M▲ +75.8%-2.6%

FY2023$358.5M(523M)−$164.8M▲ +67.1%-15.2%

FY2022$56.5M(557M)−$500.6M▼ 2035.1%-52.6%

FY2021$320.8M(344M)−$23.4M▼ 153.8%-2.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

EQX.TO · P/FCF · FCF yield · FCF per share

Equinox Gold Corp. (EQX.TO) trades at a FCF yield of 0.79% and a price-to-free-cash-flow ratio of 71.7x. FCF per share stands at $0.21, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

0.79%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.21

TTM FCF ÷ Shares Outstanding

Price / FCF

x71.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x130.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

EQX.TO · cash flow statement · operating / investing / financing

For FY2025, Equinox Gold Corp. generated $697.8M in operating cash flow and spent 704M in capital expenditures, yielding −$6.7M in free cash flow.

Operating Activities

+$697.8M

Cash from core business operations

2025-12-31

Investing Activities

−$466.7M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$40.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($697.8M) − |CapEx| (704M) = FCF (−$6.7M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Basic Materials)

EQX.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Equinox Gold Corp.YOU

EQX.TO

−$6.7M+83.2%-0.4%

Loss

Southern Copper Corporation

Basic Materials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Equinox Gold Corp. (EQX.TO) reported free cash flow of −$6.7M for FY2025 (fiscal year ending 2025-12-31), up 83.2% year-over-year. The FCF margin was -0.4%.

Based on available data, Equinox Gold Corp. has maintained positive free cash flow for at least 1 fiscal year(s). FCF peaked at $43.6M in FY2020.

Equinox Gold Corp.'s FCF yield is 0.79% and price-to-FCF ratio is 71.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

EQX.TO free cash flow · 8 questions

Equinox Gold Corp. free cash flow was −$6.7M for FY2025, up 83.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $131.1M.

EQX.TO free cash flowEQX.TO FCFEQX.TO FCF 2025EQX.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Equinox Gold Corp. · Equinox Gold Corp. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026