EQX vs. LIN: Equinox Gold vs. Linde Stock Comparison

November 11, 2026

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

Company profile comparison for Equinox Gold (EQX) and Linde (LIN)
Profile Item	EQX	LIN
Name	Equinox Gold Corp.	Linde plc
Country/Region	Canada	United Kingdom
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Chemicals
GICS Sub-Industry	Gold	Industrial Gases
Market Capitalization	13.45 billion USD	236.54 billion USD
Currency	USD	USD
Exchange	NYSE American	Nasdaq
Listing Date	January 2, 2019	June 17, 1992
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

EQX

LIN

GSPC

Equinox Gold (EQX) vs. Linde (LIN), 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

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

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
Total Return (1Y)	1.87%	25.64%
Total Return (3Y, Annualized)	37.49%	11.48%
Total Return (5Y, Annualized)	8.54%	10.50%

Risk Profile

Drawdown History

EQX

LIN

GSPC

Equinox Gold (EQX) vs. Linde (LIN), 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

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

Risk Metrics

Risk profile metrics for Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
Volatility (1Y, Annualized)	63.25%	19.00%
Beta (5Y)	1.25	0.67
Max Drawdown (5Y)	-71.57%	-22.82%
Avg. Volume (3M)	12.60M	2.05M

Risk-Adjusted Performance

Risk-Return Positioning

EQX and LIN 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 Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
Sharpe Ratio (1Y)	-0.04	1.12
Sortino Ratio (1Y)	-0.06	1.65

Profitability

ROE (TTM)

Both Equinox Gold (EQX) at 8.47% and Linde (LIN) at 17.72% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

EQX

Materials industry group

8.47%

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

LIN

Materials industry group

17.72%

Max: 52.88%
Q3: 19.49%
LIN: 17.72%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

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

Net Margin (TTM)

For every dollar of sales, both Equinox Gold (EQX) at 28.09% and Linde (LIN) at 19.34% retain more as net profit than most peers, landing in the top net margin quartile of their industries.

EQX

Materials industry group

28.09%

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

LIN

Materials industry group

19.34%

Max: 38.66%
LIN: 19.34%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Equinox Gold (EQX) vs. Linde (LIN): 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 Linde (LIN) at 27.97%, which runs around its industry’s norm.

EQX

Materials industry group

32.14%

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

LIN

Materials industry group

27.97%

Max: 66.70%
Q3: 28.92%
LIN: 27.97%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
ROE (TTM)	8.47%	17.72%
ROA (TTM)	6.74%	7.17%
Net Margin (TTM)	28.09%	19.34%
Operating Margin (TTM)	32.14%	27.97%
Gross Margin (TTM)	57.60%	47.86%

Growth

Revenue Growth

Equinox Gold (EQX) at 99.07% clears its industry range for revenue growth, far stronger top-line momentum than Linde (LIN) at 2.97%, which is closer to a typical peer reading.

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

EPS Growth

Both Equinox Gold (EQX) at -53.33% and Linde (LIN) at 7.27% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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

Growth Metrics

Growth metrics for Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
Revenue Growth (YoY)	99.07%	2.97%
Revenue Growth (3Y CAGR)	24.04%	0.62%
EPS Growth (YoY)	-53.33%	7.27%
EPS Growth (3Y CAGR)	--	21.08%

Financial Strength

Current Ratio (MRQ)

Both Equinox Gold (EQX) at 1.33 and Linde (LIN) at 0.86 run current ratio in the tighter-liquidity quartile of industry peers, leaving thinner cushions against current liabilities than typical competitors.

EQX

Materials industry group

1.33

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

LIN

Materials industry group

0.86

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
LIN: 0.86
Min: 0.16

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

Debt / Equity (MRQ)

Both Equinox Gold (EQX) at 0.13 and Linde (LIN) at 0.65 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

EQX

Materials industry group

0.13

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

LIN

Materials industry group

0.65

Max: 1.98
Q3: 0.89
LIN: 0.65
Median: 0.47
Q1: 0.13
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
Current Ratio (MRQ)	1.33	0.86
Debt / Equity (MRQ)	0.13	0.65
Net Debt / EBITDA	0.21	1.65

Dividends

Dividend Yield (TTM)

Both Equinox Gold (EQX) at 0.27% and Linde (LIN) at 1.21% 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%

LIN

Materials industry group

1.21%

Max: 4.52%
Q3: 1.85%
LIN: 1.21%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Equinox Gold (EQX) at 6.25% pays out a band-typical share of earnings, while Linde (LIN) at 41.83% distributes more than its industry norm — less retained, thinner cover.

EQX

Materials industry group

6.25%

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

LIN

Materials industry group

41.83%

Max: 83.62%
LIN: 41.83%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
Dividend Yield (TTM)	0.27%	1.21%
Dividend Payout Ratio (TTM)	6.25%	41.83%

Valuation

P/E Ratio (TTM)

Equinox Gold (EQX) at 24.00 is near its industry’s usual P/E ratio, while Linde (LIN) at 34.21 sits in the richer quartile — LIN 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

LIN

Materials industry group

34.21

Max: 59.00
LIN: 34.21
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

Equinox Gold (EQX) vs. Linde (LIN): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Both Equinox Gold (EQX) at 4.64 and Linde (LIN) at 6.53 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.

EQX

Materials industry group

4.64

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

LIN

Materials industry group

6.53

Max: 9.62
LIN: 6.53
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

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

P/B Ratio (MRQ)

Equinox Gold (EQX) at 1.43 is valued about in line with its industry on P/B ratio, while Linde (LIN) at 6.00 carries an above-peer premium to book — LIN 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

LIN

Materials industry group

6.00

Max: 6.59
LIN: 6.00
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Equinox Gold (EQX) and Linde (LIN)
Metric	EQX	LIN
P/E Ratio (TTM)	24.00	34.21
P/S Ratio (TTM)	4.64	6.53
P/B Ratio (MRQ)	1.43	6.00
Free Cash Flow Yield (TTM)	2.15%	1.77%