Equinox Gold (EQX) Gross Margin (2019 - 2026)
Equinox Gold (EQX) recorded Gross Margin of 58.94% in the quarter ended Mar 31, 2026, up 98.32 percentage points from -39.38% a year earlier but down 5.94 percentage points from the prior quarter.
Equinox Gold (EQX) Gross Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Equinox Gold's Gross Margin came in at 57.74% as of Mar 31, 2026, up 31.96 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 60.77%, up 0.84 percentage points from the prior year.
- Annual Gross Margin has increased for three straight years, with a five-year change of +26.45 percentage points (years ended Dec 2020 to Dec 2025).
- Across earlier years, Gross Margin came in at 59.93% in the year ended Dec 31, 2024 (+49.92 pp), 10.02% in the year ended Dec 31, 2023 (+1.09 pp), 8.92% in the year ended Dec 31, 2022 (-12.38 pp) and 21.31% in the year ended Dec 31, 2021 (-13.02 pp).
- Quarterly Gross Margin has ranged from -156.63% in the quarter ended Dec 31, 2023 to 64.88% in the quarter ended Dec 31, 2025 over the past five years.
- On a year-over-year basis, Gross Margin has increased for four consecutive quarters, with an average year-over-year change of +38.10 percentage points over the last eight quarters.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 195.22 percentage points in the quarter ended Dec 31, 2024, against a drop of 191.76 percentage points in the quarter ended Dec 31, 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 64.88% (quarter ended Dec 31, 2025), 54.59% (quarter ended Sep 30, 2025) and 52.01% (quarter ended Jun 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 166.15 Bn | 128.95 Bn | - | - |
| 2 | Southern Copper | 145.61 Bn | 120.34 Bn | 3.10 Bn | 65.95% |
| 3 | Rio Tinto | 138.54 Bn | 138.54 Bn | - | - |
| 4 | Newmont | 127.15 Bn | 92.29 Bn | 4.22 Bn | 66.32% |
| 5 | Ternium | 100.63 Bn | 93.91 Bn | - | - |
| 6 | Agnico Eagle Mines | 97.48 Bn | 92.69 Bn | - | - |
| 7 | Freeport-Mcmoran | 88.12 Bn | 72.16 Bn | 2.19 Bn | 31.10% |
| 8 | Barrick Mining | 69.35 Bn | 47.84 Bn | 2.90 Bn | 54.74% |
| 9 | Nucor | 59.10 Bn | 48.48 Bn | 2.03 Bn | 19.56% |
| 10 | Equinox Gold | 7.43 Bn | 6.07 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 39.20% |
| Mar 31, 2026 | 115.80% |
| Dec 31, 2025 | 50.23% |
| Sep 30, 2025 | 34.20% |
| Jun 30, 2025 | 34.95% |
| Mar 31, 2025 | 13.37% |
| Dec 31, 2024 | 26.66% |
| Sep 30, 2024 | 23.67% |
| Jun 30, 2024 | 7.87% |
| Mar 31, 2024 | 4.71% |
| Dec 31, 2023 | 9,650.00% |
| Sep 30, 2023 | 8.85% |
| Jun 30, 2023 | 11.31% |
| Mar 31, 2023 | 6.18% |
| Dec 31, 2022 | 12.34% |
| Sep 30, 2022 | 3.03% |
| Jun 30, 2022 | 7.57% |
| Mar 31, 2022 | 12.77% |
| Dec 31, 2021 | 26.08% |
| Sep 30, 2021 | 18.65% |
Equinox Gold Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=EQX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "EQX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=EQX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();