EQX vs. FNV: Equinox Gold vs. Franco-Nevada Stock Comparison
How do Equinox Gold (EQX) and Franco-Nevada (FNV) 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
Equinox Gold (EQX) and Franco-Nevada (FNV) are both classified in the Gold sub-industry within the broader Metals & Mining industry, placing them in the closest GICS peer bucket.
| Profile Item | EQX | FNV |
|---|---|---|
| Name | Equinox Gold Corp. | Franco-Nevada Corporation |
| Country/Region | Canada | Canada |
| GICS Sector | Materials | Materials |
| GICS Industry Group | Materials | Materials |
| GICS Industry | Metals & Mining | Metals & Mining |
| GICS Sub-Industry | Gold | Gold |
| Market Capitalization | 13.45 billion USD | 49.17 billion USD |
| Currency | USD | USD |
| Exchange | NYSE American | NYSE |
| Listing Date | January 2, 2019 | December 7, 2007 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | EQX | FNV |
|---|---|---|
| Total Return (1Y) | 1.87% | 37.48% |
| Total Return (3Y, Annualized) | 37.49% | 30.93% |
| Total Return (5Y, Annualized) | 8.54% | 13.51% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
Equinox Gold (EQX) is heavily traded at around 12.60M shares per day, whereas Franco-Nevada (FNV) sees a more moderate 716.56K — larger orders in the latter may require more patience and tighter control over order sizing.
| Metric | EQX | FNV |
|---|---|---|
| Volatility (1Y, Annualized) | 63.25% | 39.71% |
| Beta (5Y) | 1.25 | 0.28 |
| Max Drawdown (5Y) | -71.57% | -37.12% |
| Avg. Volume (3M) | 12.60M | 716.56K |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | EQX | FNV |
|---|---|---|
| Sharpe Ratio (1Y) | -0.04 | 0.84 |
| Sortino Ratio (1Y) | -0.06 | 1.19 |
Profitability
ROE (TTM)
Franco-Nevada (FNV) at 19.91% sits in the top ROE quartile, while Equinox Gold (EQX) at 8.47% is closer to the peer norm — stronger capital efficiency for FNV.
EQX
Materials industry group
8.47%
- Max
- 52.88%
- Q3
- 19.49%
- Median
- 8.76%
- EQX
- 8.47%
- Q1
- -3.41%
- Min
- -32.81%
FNV
Materials industry group
19.91%
- Max
- 52.88%
- FNV
- 19.91%
- Q3
- 19.49%
- Median
- 8.76%
- Q1
- -3.41%
- Min
- -32.81%
Net Margin (TTM)
Franco-Nevada (FNV) at 64.23% keeps the most of each sales dollar — above its industry’s net margin range — and Equinox Gold (EQX) at 28.09% also retains a top-quartile share.
EQX
Materials industry group
28.09%
- Max
- 38.66%
- EQX
- 28.09%
- Q3
- 15.98%
- Median
- 5.28%
- Q1
- 0.00%
- Min
- -20.40%
FNV
Materials industry group
64.23%
- FNV
- 64.23%
- Max
- 38.66%
- Q3
- 15.98%
- Median
- 5.28%
- Q1
- 0.00%
- Min
- -20.40%
Operating Margin (TTM)
Franco-Nevada (FNV) at 76.98% shows unusually strong operating efficiency — above its industry’s operating margin range — and Equinox Gold (EQX) at 32.14% also operates in the top quartile.
EQX
Materials industry group
32.14%
- Max
- 66.70%
- EQX
- 32.14%
- Q3
- 28.92%
- Median
- 12.56%
- Q1
- 3.28%
- Min
- -14.07%
FNV
Materials industry group
76.98%
- FNV
- 76.98%
- Max
- 66.70%
- Q3
- 28.92%
- Median
- 12.56%
- Q1
- 3.28%
- Min
- -14.07%
Profitability Metrics
| Metric | EQX | FNV |
|---|---|---|
| ROE (TTM) | 8.47% | 19.91% |
| ROA (TTM) | 6.74% | 13.74% |
| Net Margin (TTM) | 28.09% | 64.23% |
| Operating Margin (TTM) | 32.14% | 76.98% |
| Gross Margin (TTM) | 57.60% | 92.09% |
Growth
Revenue Growth
Both companies are growing quickly, but Equinox Gold (EQX) at 99.07% is the standout with revenue growth above its industry range; Franco-Nevada (FNV) at 63.69% also sits in the top quartile.
EPS Growth
Both Equinox Gold (EQX) at -53.33% and Franco-Nevada (FNV) at 100.70% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.
Growth Metrics
| Metric | EQX | FNV |
|---|---|---|
| Revenue Growth (YoY) | 99.07% | 63.69% |
| Revenue Growth (3Y CAGR) | 24.04% | 11.48% |
| EPS Growth (YoY) | -53.33% | 100.70% |
| EPS Growth (3Y CAGR) | -- | 16.42% |
Financial Strength
Current Ratio (MRQ)
Franco-Nevada (FNV) at 9.38 carries current ratio above its industry’s typical mid-range, while Equinox Gold (EQX) at 1.33 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.
EQX
Materials industry group
1.33
- Max
- 5.96
- Q3
- 3.30
- Median
- 2.24
- Q1
- 1.45
- EQX
- 1.33
- Min
- 0.16
FNV
Materials industry group
9.38
- FNV
- 9.38
- Max
- 5.96
- Q3
- 3.30
- Median
- 2.24
- Q1
- 1.45
- Min
- 0.16
Debt / Equity (MRQ)
Only one side’s leverage can be read here: Equinox Gold (EQX) carries debt-to-equity ratio of 0.13 against its industry range, while Franco-Nevada (FNV) reports no figure this period.
EQX
Materials industry group
0.13
- Max
- 1.98
- Q3
- 0.89
- Median
- 0.47
- EQX
- 0.13
- Q1
- 0.13
- Min
- 0.00
FNV
Materials industry group
--
- Max
- 1.98
- Q3
- 0.89
- Median
- 0.47
- Q1
- 0.13
- Min
- 0.00
- FNV
- --
Financial Strength Metrics
| Metric | EQX | FNV |
|---|---|---|
| Current Ratio (MRQ) | 1.33 | 9.38 |
| Debt / Equity (MRQ) | 0.13 | -- |
| Net Debt / EBITDA | 0.21 | -0.49 |
Dividends
Dividend Yield (TTM)
Both Equinox Gold (EQX) at 0.27% and Franco-Nevada (FNV) at 0.65% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.
EQX
Materials industry group
0.27%
- Max
- 4.52%
- Q3
- 1.85%
- Median
- 0.38%
- EQX
- 0.27%
- Q1
- 0.00%
- Min
- 0.00%
FNV
Materials industry group
0.65%
- Max
- 4.52%
- Q3
- 1.85%
- FNV
- 0.65%
- Median
- 0.38%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both Equinox Gold (EQX) at 6.25% and Franco-Nevada (FNV) at 21.44% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.
EQX
Materials industry group
6.25%
- Max
- 83.62%
- Q3
- 41.37%
- Median
- 9.54%
- EQX
- 6.25%
- Q1
- 0.00%
- Min
- 0.00%
FNV
Materials industry group
21.44%
- Max
- 83.62%
- Q3
- 41.37%
- FNV
- 21.44%
- Median
- 9.54%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | EQX | FNV |
|---|---|---|
| Dividend Yield (TTM) | 0.27% | 0.65% |
| Dividend Payout Ratio (TTM) | 6.25% | 21.44% |
Valuation
P/E Ratio (TTM)
Equinox Gold (EQX) at 24.00 is near its industry’s usual P/E ratio, while Franco-Nevada (FNV) at 33.33 sits in the richer quartile — FNV needs stronger growth or earnings quality to justify the premium.
EQX
Materials industry group
24.00
- Max
- 59.00
- Q3
- 32.93
- EQX
- 24.00
- Median
- 18.82
- Q1
- 11.96
- Min
- 3.93
FNV
Materials industry group
33.33
- Max
- 59.00
- FNV
- 33.33
- Q3
- 32.93
- Median
- 18.82
- Q1
- 11.96
- Min
- 3.93
P/S Ratio (TTM)
Both look expensive on sales: Equinox Gold (EQX) at 4.64 sits in the upper P/S ratio quartile, and Franco-Nevada (FNV) at 21.37 prices even higher, above its industry range.
EQX
Materials industry group
4.64
- Max
- 9.62
- EQX
- 4.64
- Q3
- 4.34
- Median
- 1.87
- Q1
- 0.73
- Min
- 0.00
FNV
Materials industry group
21.37
- FNV
- 21.37
- Max
- 9.62
- Q3
- 4.34
- Median
- 1.87
- Q1
- 0.73
- Min
- 0.00
P/B Ratio (MRQ)
Equinox Gold (EQX) at 1.43 is valued about in line with its industry on P/B ratio, while Franco-Nevada (FNV) at 5.97 carries an above-peer premium to book — FNV is pricier on assets.
EQX
Materials industry group
1.43
- Max
- 6.59
- Q3
- 3.55
- Median
- 2.08
- EQX
- 1.43
- Q1
- 1.26
- Min
- -0.17
FNV
Materials industry group
5.97
- Max
- 6.59
- FNV
- 5.97
- Q3
- 3.55
- Median
- 2.08
- Q1
- 1.26
- Min
- -0.17
Valuation Metrics
| Metric | EQX | FNV |
|---|---|---|
| P/E Ratio (TTM) | 24.00 | 33.33 |
| P/S Ratio (TTM) | 4.64 | 21.37 |
| P/B Ratio (MRQ) | 1.43 | 5.97 |
| Free Cash Flow Yield (TTM) | 2.15% | 0.96% |