Equinox Gold Corp. (EQX) Income Statement
EQX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsEQX revenue and net income
Where EQX's revenue goes
2025Each bar shows an amount and its share of revenue. EQX kept 12.2% of revenue as net income.
EQX profit margins
EQX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +22.1% | +24.8% | +16.9% | — |
| Gross profit | +52.0% | +75.9% | +9.8% | — |
| Operating income | +84.9% | +248.5% | +20.5% | — |
| Net income | −33.6% | — | +58.8% | — |
| EPS (diluted) | +104.8% | — | −9.8% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
EQX quarterly EPS vs estimates
Equinox Gold beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.26).
EQX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.85B | $1.51B | $1.09B | $952.2M | $1.08B | $845.4M | $281.7M | $30.2M | $15.5M | $1.1M |
| Cost of revenue | $1.39B | $1.21B | $979.2M | $867.2M | $851.7M | $555.2M | $197.8M | $22.1M | $27.7M | $2.3M |
| Gross profit | $462.2M | $304.0M | $109.0M | $85.0M | $230.6M | $290.2M | $83.9M | $8.0M | −$12.2M | −$1.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $199.7M | $63.4M | $60.1M | $45.6M | $51.3M | $39.7M | $19.5M | $16.4M | $10.4M | $1.1M |
| Total operating expenses | $22.2M | $66.1M | $59.4M | $74.6M | $84.1M | $117.2M | $28.7M | $28.7M | $19.0M | $2.2M |
| Operating income | $439.9M | $238.0M | $49.6M | $10.4M | $146.5M | $173.0M | $55.1M | −$33.9M | −$31.2M | −$3.4M |
| Interest income | $168.3M | $8.1M | $11.7M | $100.4M | $2.8M | $1.8M | $54.4M | $8.9M | $14.8M | $501,000 |
| Interest expense | $182.4M | $95.4M | $60.2M | $40.4M | $41.6M | $39.8M | $17.5M | $6.7M | $7.2M | $409,000 |
| Income before taxes | $133.7M | $630.1M | $14.8M | −$98.4M | $535.0M | $43.1M | −$13.2M | −$21.4M | −$17.1M | −$2.7M |
| Income taxes | $152.9M | $290.8M | −$14.1M | $7.6M | −$19.9M | $20.8M | $7.1M | $2.3M | $308,000 | −$1.2M |
| Net income | $225.3M | $339.3M | $28.9M | −$106.0M | $554.9M | $22.3M | −$18.4M | −$49.8M | −$16.7M | −$2.4M |
| EBITDA | $842.7M | $948.1M | $291.1M | $130.8M | $774.7M | $222.5M | $44.4M | −$26.3M | −$6.5M | −$2.2M |
| EPS (diluted) | $0.43 | $0.21 | $0.05 | −$0.31 | $0.23 | $0.72 | −$0.16 | −$0.15 | $0.09 | −$0.31 |
| Gross margin | 25.0% | 20.1% | 10.0% | 8.9% | 21.3% | 34.3% | 29.8% | 26.6% | −78.8% | −114.5% |
| Operating margin | 23.8% | 15.7% | 4.6% | 1.1% | 13.5% | 20.5% | 19.6% | −112.5% | −201.8% | −317.8% |
| Net margin | 12.2% | 22.4% | 2.7% | −11.1% | 51.3% | 2.6% | −6.5% | −165.3% | −108.1% | −224.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $769.8M | $861.6M | $136.7M | $809.9M | $478.6M | $423.7M | $575.0M | $428.4M | $269.4M | $241.3M | $297.8M | $284.7M |
| Cost of revenue | $468.3M | $423.1M | $133.2M | $544.7M | $319.0M | $390.0M | $339.4M | $327.0M | $248.4M | $230.0M | $259.2M | $259.5M |
| Gross profit | $301.5M | $438.5M | $3.5M | $265.3M | $159.7M | $33.7M | $235.6M | $101.4M | $21.0M | $11.4M | $38.6M | $25.2M |
| Sales, general & admin | $21.9M | $21.2M | $61.9M | $34.9M | $25.5M | $17.6M | $17.2M | $12.8M | $12.7M | $14.1M | $10.4M | $13.5M |
| Total operating expenses | $54.1M | $48.3M | −$134.1M | $62.4M | $64.6M | $29.5M | $87.8M | $17.2M | $15.1M | $16.6M | $13.3M | $16.6M |
| Operating income | $247.4M | $390.2M | $137.6M | $202.9M | $95.1M | $4.3M | $147.7M | $84.2M | $5.9M | −$5.3M | $25.3M | $8.6M |
| Interest income | $2.7M | $4.2M | $31.6M | $3.2M | $2.5M | $2.1M | $1.8M | $1.9M | $2.4M | $2.0M | $2.4M | $3.0M |
| Interest expense | $12.1M | $31.7M | $38.5M | $50.3M | $45.3M | $48.3M | $37.6M | $19.7M | $20.7M | $17.4M | $17.9M | $15.3M |
| Income before taxes | $305.6M | $314.0M | $35.5M | $113.7M | $49.3M | −$64.9M | $180.2M | $36.8M | $551.3M | −$34.2M | $8.3M | −$5.9M |
| Income taxes | $87.0M | $126.8M | $87.7M | $29.1M | $25.5M | $10.6M | $82.3M | $36.5M | $197.9M | $8.5M | $4.5M | −$8.1M |
| Net income | $230.6M | $310.1M | $192.4M | $84.6M | $23.8M | −$75.5M | $98.0M | $303,000 | $353.5M | −$42.8M | $3.9M | $2.2M |
| EBITDA | $448.0M | $461.8M | $225.8M | $329.4M | $190.3M | $81.0M | $219.5M | $115.8M | $616.4M | $29.7M | $89.3M | $67.4M |
| EPS (diluted) | $0.15 | $0.23 | $0.21 | $0.19 | $0.11 | −$0.08 | $0.17 | $0.09 | −$0.01 | −$0.04 | $0.01 | $0.09 |
| Gross margin | 39.2% | 50.9% | 2.6% | 32.8% | 33.4% | 8.0% | 41.0% | 23.7% | 7.8% | 4.7% | 13.0% | 8.9% |
| Operating margin | 32.1% | 45.3% | 100.7% | 25.1% | 19.9% | 1.0% | 25.7% | 19.7% | 2.2% | −2.2% | 8.5% | 3.0% |
| Net margin | 30.0% | 36.0% | 140.7% | 10.4% | 5.0% | −17.8% | 17.0% | 0.1% | 131.2% | −17.7% | 1.3% | 0.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in EQX's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
EQX financial results
In fiscal year 2025 (ended December 31, 2025), Equinox Gold reported revenue of $1.8 billion, up 22.1% from the year before. It had net income of $225.3 million (down 33.6%), a net profit margin of 12.2%. Diluted earnings per share came to $0.43. Over five years revenue grew at an average rate of 16.9% a year.
See the EQX stock overview for the latest quote and news, or the EQX chart for price history and technical indicators.
EQX income statement FAQ
What is Equinox Gold's annual revenue?
Equinox Gold reported total revenue of $1.8 billion for fiscal year 2025, which ended on December 31, 2025. That was up 22.1% from $1.5 billion the previous year.
Is Equinox Gold profitable?
Yes. Equinox Gold reported net income of $225.3 million in fiscal 2025, a net profit margin of 12.2%; its operating margin was 23.8%.
What is Equinox Gold's gross margin?
Equinox Gold's gross margin was 25.0% in fiscal 2025: for every $100 of revenue, Equinox Gold kept $25 after the direct cost of its products and services.
How fast is Equinox Gold growing?
Revenue grew 16.9% a year on average over the last five fiscal years, from $845.4 million to $1.8 billion.
What are Equinox Gold's earnings per share?
Equinox Gold earned $0.43 per diluted share in fiscal 2025, compared with $0.21 a year earlier.
When will Equinox Gold report its next earnings?
Equinox Gold is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Equinox Gold's fiscal year end?
Equinox Gold's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.