Equinox GoldEQX +0.21%75 Gross Margin % is 50.89% as of Mar. 2026, which is 127% above its 10-year median of 22.37. GuruFocus rates EQX with a GF Score™ of 75/100 and a GF Value™ of $5.91 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 729 Metals & Mining companies, Equinox Gold ranks better than 85.6% on this metric.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Equinox Gold had a gross margin of 50.89% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Equinox Gold Gross Margin % Related Terms
Equinox Gold Gross Margin % Historical Data
* Premium members only.
The historical data trend for Equinox Gold's Gross Margin % 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 Gross Margin %, along with its competitors' market caps and Gross Margin % 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 Gross Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Equinox Gold's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Equinox Gold's Gross Margin % 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Equinox Gold (EQX) has a Gross Margin % of 50.89% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Equinox Gold and its competitors. This is 127% above median its historical median of 22.37. According to the industry distribution chart, Equinox Gold ranks #105 out of 729 companies in the Metals & Mining industry, placing it in the top 14.4%.
Is Equinox Gold's Gross Margin % too high?
Equinox Gold's current Gross Margin % of 50.89% is 127% above median its 10-year median of 22.37. The Metals & Mining industry median Gross Margin % is 26.20. Equinox Gold's value of 50.89% is 94.2% above this industry median. Based on the distribution chart, Equinox Gold ranks #105 out of 729 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Equinox Gold has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Equinox Gold's Gross Margin % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Equinox Gold ranks #105 out of 729 companies for Gross Margin %. This places Equinox Gold in the top 14% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 26.20. Equinox Gold's value of 50.89% is 94.2% above this benchmark. While the company's 10-year median is 22.37 vs. the industry median of 26.20, Equinox Gold has consistently been above 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 Gross Margin % for a Metals & Mining company?
The median Gross Margin % among Metals & Mining companies is 26.20, based on 729 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Equinox Gold's current Gross Margin % of 50.89% is 94.2% above 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Equinox Gold and its competitors. For the Metals & Mining industry, the median Gross Margin % is 26.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Equinox Gold's current Gross Margin % is 50.89%, which is 127% above median its own 10-year median of 22.37. 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 Significantly Overvalued. The stock's GF Value™ is $5.91, compared to a current price of $9.73 — trading 64.6% above its estimated fair value. The current Gross Margin % is 50.89%, which is 127% above median its 10-year median of 22.37 and 94.2% above the Metals & Mining industry median of 26.20. Equinox Gold's overall GF Score™ is 75/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Equinox Gold (EQX), the current Gross Margin % is 50.89% as of Mar. 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 $9.73 is trading 64.6% above its estimated GF Value™ of $5.91.
GuruFocus considers Equinox Gold to be Significantly Overvalued.
Key valuation signals for EQX:
Gross Margin %: 50.89% (127% above median its 10-year median of 22.37)
GF Value™: $5.91 vs. price of $9.73 (64.6% above fair value)
Industry Position: 94.2% above the Metals & Mining median (#105 of 729)
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.
75GF Score
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