Equinox Gold (EQX) Free Cash Flow (2018 - 2025)

Equinox Gold (EQX) posted quarterly Free Cash Flow of -$198.1 million for Q4 2025, down 167.84% year-over-year from $292.0 million in Q4 2024, and down 184.11% on a QoQ basis from $235.5 million in Q3 2025.

Equinox Gold (EQX) Free Cash Flow (2018 - 2025) Analysis & Trends

Equinox Gold (EQX) has reported Free Cash Flow for 7 consecutive years, with -$198.1 million the latest figure, recorded in Q4 2025.

  • In Q4 2025, Free Cash Flow fell 167.84% year-over-year to -$198.1 million; the TTM figure through Mar 2026 stood at $133.4 million (up 820.31% YoY), while the FY2025 annual figure was -$539.7 million, down 41.08% from the prior year.
  • Free Cash Flow came in at -$198.1 million for Q4 2025 at Equinox Gold, down from $235.5 million in the prior quarter.
  • The five-year high for Free Cash Flow was $235.5 million in Q3 2025, with the low at -$974.6 million in Q4 2022.
  • Average Free Cash Flow over 4 years is -$3.8 million, with a median of $107.8 million recorded in 2023.
  • The largest YoY upside for Free Cash Flow was 8.53% in 2025 against a maximum downside of 167.84% in 2025.
  • Year by year, Free Cash Flow stood at -$974.6 million in 2022, then soared by 115.14% to $147.6 million in 2023, then plunged by 150.1% to -$73.9 million in 2024, then tumbled by 167.84% to -$198.1 million in 2025.
  • According to Business Quant data, Free Cash Flow over the past three periods registered -$198.1 million, $235.5 million, and $96.0 million for Q4 2025, Q3 2025, and Q2 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 Barrick Mining 978.09 Bn 980.39 Bn 3.12 Bn 3.53 Bn
2 Trx Gold 189.48 Bn 189.48 Bn 21.05 Mn 20.23 Mn
3 Newmont 101.22 Bn 92.61 Bn 7.29 Bn 3.14 Bn
4 OR Royalties 53.18 Bn 53.08 Bn 88.84 Mn 71.86 Mn
5 Wheaton Precious Metals 50.59 Bn 48.43 Bn 699.37 Mn 765.82 Mn
6 Aura Minerals 50.25 Bn 50.25 Bn 19.58 Mn 44.11 Mn
7 Franco Nevada 40.21 Bn 39.50 Bn 526.30 Mn 520.60 Mn
8 Gold Fields 30.19 Bn 28.41 Bn - -
9 Kinross Gold 28.01 Bn 25.95 Bn 1.44 Bn 1.25 Bn
10 Equinox Gold 7.68 Bn 8.27 Bn 319.98 Mn -

Historic Data

Download Data
DateValue
Dec 31, 2025 -198.06 Mn
Dec 31, 2025 -198.06 Mn
Sep 30, 2025 235.48 Mn
Sep 30, 2025 235.48 Mn
Jun 30, 2025 95.99 Mn
Jun 30, 2025 95.99 Mn
Dec 31, 2024 -73.95 Mn
Dec 31, 2024 -73.95 Mn
Sep 30, 2024 124.44 Mn
Sep 30, 2024 124.44 Mn
Mar 31, 2024 104.77 Mn
Mar 31, 2024 104.77 Mn
Sep 30, 2023 147.59 Mn
Sep 30, 2023 147.59 Mn
Jun 30, 2023 110.85 Mn
Jun 30, 2023 110.85 Mn
Dec 31, 2022 -974.65 Mn
Dec 31, 2022 -974.65 Mn
Sep 30, 2022 151.49 Mn
Sep 30, 2022 151.49 Mn