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Equinox GoldEQX -5.29%74 Debt-to-Equity is 0.09 as of Jun. 2026, which is 75% below its 10-year median of 0.36. GuruFocus rates EQX with a GF Score™ of 74/100 and a GF Value™ of $9.40 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,233 Metals & Mining companies, Equinox Gold ranks better than 58.64% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Equinox Gold's Debt-to-Equity or its related term are showing as below:
EQX'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.08 Med: 0.36 Max: 0.66
Current: 0.09
During the past 13 years, the highest Debt-to-Equity Ratio of Equinox Gold was 0.66. The lowest was 0.08. And the median was 0.36.
EQX's Debt-to-Equity is ranked better than 58.64% of 1233
companies
in the Metals & Mining industry
Industry Median: 0.14
vs EQX: 0.09
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Equinox Gold Debt-to-Equity Related Terms
Equinox Gold Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Equinox Gold's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gold subindustry, Equinox Gold's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Equinox Gold Debt-to-Equity vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Equinox Gold's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Equinox Gold's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Equinox Gold (EQX) has a Debt-to-Equity of 0.09 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Equinox Gold and its competitors. This is 75% below median its historical median of 0.36. Over the past decade, Equinox Gold's Debt-to-Equity has ranged from 0.08 to 0.66. According to the industry distribution chart, Equinox Gold ranks #510 out of 1233 companies in the Metals & Mining industry, placing it in the top 41.4%.
Is Equinox Gold's Debt-to-Equity too high?
Equinox Gold's current Debt-to-Equity of 0.09 is 75% below median its 10-year median of 0.36. Over the past 10 years, this metric has ranged from a low of 0.08 to a high of 0.66. The Metals & Mining industry median Debt-to-Equity is 0.14. Equinox Gold's value of 0.09 is 35.7% below this industry median. Based on the distribution chart, Equinox Gold ranks #510 out of 1233 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Equinox Gold has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Equinox Gold's Debt-to-Equity compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Equinox Gold ranks #510 out of 1233 companies for Debt-to-Equity. This puts Equinox Gold in the upper half of its industry. The industry median Debt-to-Equity is 0.14. Equinox Gold's value of 0.09 is 35.7% below this benchmark. Historically, Equinox Gold's own Debt-to-Equity has ranged from 0.08 to 0.66 over the past decade. While the company's 10-year median is 0.36 vs. the industry median of 0.14, Equinox Gold has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Metals & Mining company?
The median Debt-to-Equity among Metals & Mining companies is 0.14, based on 1,233 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Equinox Gold's current Debt-to-Equity of 0.09 is 35.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Equinox Gold and its competitors. For the Metals & Mining industry, the median Debt-to-Equity is 0.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Equinox Gold's current Debt-to-Equity is 0.09, which is 75% below median its own 10-year median of 0.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Equinox Gold stock overvalued right now?
Based on GuruFocus' analysis, Equinox Gold (EQX) is currently considered Modestly Overvalued. The stock's GF Value™ is $9.40, compared to a current price of $12.18 — trading 29.6% above its estimated fair value. The current Debt-to-Equity is 0.09, which is 75% below median its 10-year median of 0.36 and 35.7% below the Metals & Mining industry median of 0.14. Equinox Gold's overall GF Score™ is 74/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Equinox Gold (EQX), the current Debt-to-Equity is 0.09 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Equinox Gold (EQX) Overvalued in 2026?
Based on GuruFocus' analysis, Equinox Gold stock appears to be overvalued.
The current stock price of $12.18 is trading 29.6% above its estimated GF Value™ of $9.40.
GuruFocus considers Equinox Gold to be Modestly Overvalued.
Key valuation signals for EQX:
Debt-to-Equity: 0.09 (75% below median its 10-year median of 0.36)
GF Value™: $9.40 vs. price of $12.18 (29.6% above fair value)
Industry Position: 35.7% below the Metals & Mining median (#510 of 1233)
No single metric tells the full story. See the EQX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Equinox Gold Corp is a mining company engaged in the operation, acquisition, exploration, and development of mineral properties, with a focus on gold. The company operates gold mines and a clear plan to increase production by advancing the pipeline of growth projects. Geographically, the company operates in the Canada, United States, Mexico, and others. The majority of its revenue is generated from Canada.
74GF Score
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