DOW vs. EQX: Dow vs. Equinox Gold Stock Comparison

November 11, 2026

How do Dow (DOW) and Equinox Gold (EQX) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Dow (DOW) and Equinox Gold (EQX) both fall under the Materials industry group, but DOW is classified in Chemicals while EQX is classified in Metals & Mining.

Company profile comparison for Dow (DOW) and Equinox Gold (EQX)
Profile Item	DOW	EQX
Name	Dow Inc.	Equinox Gold Corp.
Country/Region	United States	Canada
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Chemicals	Metals & Mining
GICS Sub-Industry	Commodity Chemicals	Gold
Market Capitalization	22.73 billion USD	13.45 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE American
Listing Date	March 20, 2019	January 2, 2019
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

DOW

EQX

GSPC

Dow (DOW) vs. Equinox Gold (EQX), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Dow (DOW) and Equinox Gold (EQX). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Dow (DOW) and Equinox Gold (EQX). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
Total Return (1Y)	46.93%	1.87%
Total Return (3Y, Annualized)	-8.46%	37.49%
Total Return (5Y, Annualized)	-6.94%	8.54%

Risk Profile

Drawdown History

DOW

EQX

GSPC

Dow (DOW) vs. Equinox Gold (EQX), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Dow (DOW) and Equinox Gold (EQX). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
Volatility (1Y, Annualized)	41.81%	63.25%
Beta (5Y)	0.44	1.25
Max Drawdown (5Y)	-64.37%	-71.57%
Avg. Volume (3M)	8.52M	12.60M

Risk-Adjusted Performance

Risk-Return Positioning

DOW and EQX are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
Sharpe Ratio (1Y)	1.02	-0.04
Sortino Ratio (1Y)	1.62	-0.06

Profitability

ROE (TTM)

Dow (DOW) reports a negative ROE of -3.24%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Equinox Gold (EQX) reports 8.47%, ranking against industry peers normally.

DOW

Materials industry group

-3.24%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
DOW: -3.24%
Q1: -3.41%
Min: -32.81%

EQX

Materials industry group

8.47%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
EQX: 8.47%
Q1: -3.41%
Min: -32.81%

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Dow (DOW) reports a negative net margin of -2.11%, usually indicating a net loss over the period. Meanwhile Equinox Gold (EQX) reports 28.09%, ranking against industry peers normally.

DOW

Materials industry group

-2.11%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
DOW: -2.11%
Min: -20.40%

EQX

Materials industry group

28.09%

Max: 38.66%
EQX: 28.09%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

Equinox Gold (EQX) at 32.14% operates in the top operating margin quartile, ahead of Dow (DOW) at 6.78%, which runs around its industry’s norm.

DOW

Materials industry group

6.78%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
DOW: 6.78%
Q1: 3.28%
Min: -14.07%

EQX

Materials industry group

32.14%

Max: 66.70%
EQX: 32.14%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
ROE (TTM)	-3.24%	8.47%
ROA (TTM)	1.87%	6.74%
Net Margin (TTM)	-2.11%	28.09%
Operating Margin (TTM)	6.78%	32.14%
Gross Margin (TTM)	11.01%	57.60%

Growth

Revenue Growth

Equinox Gold (EQX) at 99.07% delivers above-range revenue growth, while Dow (DOW) at -6.97% falls into the bottom quartile — a wide split in revenue momentum.

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their Revenue Growth across different time periods.

EPS Growth

Equinox Gold (EQX) at -53.33% is around its peer norm for EPS growth, while Dow (DOW) at -335.67% falls below its industry range, a notably weak earnings reading.

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
Revenue Growth (YoY)	-6.97%	99.07%
Revenue Growth (3Y CAGR)	-11.11%	24.04%
EPS Growth (YoY)	-335.67%	-53.33%
EPS Growth (3Y CAGR)	--	--

Financial Strength

Current Ratio (MRQ)

Dow (DOW) at 1.76 keeps current ratio within its industry’s typical mid-range, while Equinox Gold (EQX) at 1.33 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for EQX.

DOW

Materials industry group

1.76

Max: 5.96
Q3: 3.30
Median: 2.24
DOW: 1.76
Q1: 1.45
Min: 0.16

EQX

Materials industry group

1.33

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
EQX: 1.33
Min: 0.16

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Equinox Gold (EQX) at 0.13 carries an industry-typical debt-to-equity mix, while Dow (DOW) at 1.08 uses more debt funding than most peers.

DOW

Materials industry group

1.08

Max: 1.98
DOW: 1.08
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

EQX

Materials industry group

0.13

Max: 1.98
Q3: 0.89
Median: 0.47
EQX: 0.13
Q1: 0.13
Min: 0.00

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
Current Ratio (MRQ)	1.76	1.33
Debt / Equity (MRQ)	1.08	0.13
Net Debt / EBITDA	3.21	0.21

Dividends

Dividend Yield (TTM)

Dow (DOW) at 4.38% delivers top-quartile income for its industry, while Equinox Gold (EQX) at 0.27% pays a more typical yield — both are credible income propositions, DOW the richer one.

DOW

Materials industry group

4.38%

Max: 4.52%
DOW: 4.38%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

EQX

Materials industry group

0.27%

Max: 4.52%
Q3: 1.85%
Median: 0.38%
EQX: 0.27%
Q1: 0.00%
Min: 0.00%

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Dow (DOW) reports payout ratio above 100% at 700.00%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Equinox Gold (EQX) reports 6.25%, ranking against industry peers normally.

DOW

Materials industry group

700.00%

DOW: 700.00%
Max: 83.62%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

EQX

Materials industry group

6.25%

Max: 83.62%
Q3: 41.37%
Median: 9.54%
EQX: 6.25%
Q1: 0.00%
Min: 0.00%

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
Dividend Yield (TTM)	4.38%	0.27%
Dividend Payout Ratio (TTM)	700.00%	6.25%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Equinox Gold (EQX) trades at 24.00 times trailing earnings, ranked against its peers, while Dow (DOW) has no P/E ratio this period.

DOW

Materials industry group

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93
DOW: --

EQX

Materials industry group

24.00

Max: 59.00
Q3: 32.93
EQX: 24.00
Median: 18.82
Q1: 11.96
Min: 3.93

Dow (DOW) vs. Equinox Gold (EQX): DOW does not report P/E ratio, so it has no value marker; EQX is benchmarked against the Materials industry group.

P/S Ratio (TTM)

Dow (DOW) at 0.53 looks cheap on sales in the lower P/S ratio quartile, while Equinox Gold (EQX) at 4.64 looks rich in the upper quartile — a clear gap in price per dollar of revenue.

DOW

Materials industry group

0.53

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
DOW: 0.53
Min: 0.00

EQX

Materials industry group

4.64

Max: 9.62
EQX: 4.64
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Dow (DOW) at 1.41 and Equinox Gold (EQX) at 1.43 are valued close to their industries’ norm against book — neither stands out from peers.

DOW

Materials industry group

1.41

Max: 6.59
Q3: 3.55
Median: 2.08
DOW: 1.41
Q1: 1.26
Min: -0.17

EQX

Materials industry group

1.43

Max: 6.59
Q3: 3.55
Median: 2.08
EQX: 1.43
Q1: 1.26
Min: -0.17

Dow (DOW) vs. Equinox Gold (EQX): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Dow (DOW) and Equinox Gold (EQX)
Metric	DOW	EQX
P/E Ratio (TTM)	--	24.00
P/S Ratio (TTM)	0.53	4.64
P/B Ratio (MRQ)	1.41	1.43
Free Cash Flow Yield (TTM)	3.95%	2.15%