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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Equinox GoldEQX -2.08%80 Return-on-Tangible-Asset is 12.29% as of Mar. 2026. GuruFocus rates EQX with a GF Score™ of 80/100 and a GF Value™ of $6.38 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,666 Metals & Mining companies, Equinox Gold ranks better than 84.73% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Equinox Gold's annualizedNet Income for the quarter that ended in Mar. 2026 was $1,240 Mil. Equinox Gold's average total tangible assets for the quarter that ended in Mar. 2026 was $10,096 Mil. Therefore, Equinox Gold's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 12.29%.
The historical rank and industry rank for Equinox Gold's Return-on-Tangible-Asset or its related term are showing as below:
EQX'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -11.08 Med: -0.8 Max: 16.71
Current: 6.47
During the past 13 years, Equinox Gold's highest Return-on-Tangible-Asset was 16.71%. The lowest was -11.08%. And the median was -0.80%.
EQX's Return-on-Tangible-Asset is ranked better than 84.73% of 2666
companies
in the Metals & Mining industry
Industry Median: -17.26
vs EQX: 6.47
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Equinox Gold Return-on-Tangible-Asset Related Terms
Equinox Gold Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Equinox Gold's Return-on-Tangible-Asset 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.
EQX vs NEM, AU: Return-on-Tangible-Asset Comparison
For the Gold subindustry, Equinox Gold's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Equinox Gold's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Equinox Gold's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 12.29% mean?
Equinox Gold (EQX) has a Return-on-Tangible-Asset of 12.29% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Equinox Gold and its competitors. According to the industry distribution chart, Equinox Gold ranks #407 out of 2666 companies in the Metals & Mining industry, placing it in the top 15.3%.
Is Equinox Gold's Return-on-Tangible-Asset too high?
Equinox Gold's current Return-on-Tangible-Asset is 12.29%. Based on the distribution chart, Equinox Gold ranks #407 out of 2666 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 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Equinox Gold's Return-on-Tangible-Asset compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Equinox Gold ranks #407 out of 2666 companies for Return-on-Tangible-Asset. This places Equinox Gold in the top 15% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Equinox Gold and its competitors. Equinox Gold's current Return-on-Tangible-Asset is 12.29%. 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 $6.38, compared to a current price of $8.96 — trading 40.4% above its estimated fair value. The current Return-on-Tangible-Asset is 12.29%. Equinox Gold's overall GF Score™ is 80/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Equinox Gold (EQX), the current Return-on-Tangible-Asset is 12.29% 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 $8.96 is trading 40.4% above its estimated GF Value™ of $6.38.
GuruFocus considers Equinox Gold to be Significantly Overvalued.
Key valuation signals for EQX:
Return-on-Tangible-Asset: 12.29%
GF Value™: $6.38 vs. price of $8.96 (40.4% above fair value)
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.
80GF Score
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