EQX vs. SHW: Equinox Gold vs. Sherwin-Williams Stock Comparison

November 11, 2026

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

Company profile comparison for Equinox Gold (EQX) and Sherwin-Williams (SHW)
Profile Item	EQX	SHW
Name	Equinox Gold Corp.	The Sherwin-Williams Company
Country/Region	Canada	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Chemicals
GICS Sub-Industry	Gold	Specialty Chemicals
Market Capitalization	13.45 billion USD	83.13 billion USD
Currency	USD	USD
Exchange	NYSE American	NYSE
Listing Date	January 2, 2019	March 17, 1980
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

EQX

SHW

GSPC

Equinox Gold (EQX) vs. Sherwin-Williams (SHW), 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 Sherwin-Williams (SHW). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Equinox Gold (EQX) and Sherwin-Williams (SHW)
Metric	EQX	SHW
Total Return (1Y)	1.87%	5.74%
Total Return (3Y, Annualized)	37.49%	13.18%
Total Return (5Y, Annualized)	8.54%	2.84%

Risk Profile

Drawdown History

EQX

SHW

GSPC

Equinox Gold (EQX) vs. Sherwin-Williams (SHW), 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 Sherwin-Williams (SHW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Equinox Gold (EQX) and Sherwin-Williams (SHW)
Metric	EQX	SHW
Volatility (1Y, Annualized)	63.25%	29.59%
Beta (5Y)	1.25	1.02
Max Drawdown (5Y)	-71.57%	-42.46%
Avg. Volume (3M)	12.60M	1.72M

Risk-Adjusted Performance

Risk-Return Positioning

EQX and SHW 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 Sherwin-Williams (SHW)
Metric	EQX	SHW
Sharpe Ratio (1Y)	-0.04	0.05
Sortino Ratio (1Y)	-0.06	0.08

Profitability

ROE (TTM)

Sherwin-Williams (SHW) at 63.70% clears its industry range for ROE, a sharper capital-efficiency signal than Equinox Gold (EQX) at 8.47%, which is closer to a typical peer reading.

EQX

Materials industry group

8.47%

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

SHW

Materials industry group

63.70%

SHW: 63.70%
Max: 52.88%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

Equinox Gold (EQX) at 28.09% retains a top-quartile share of revenue as profit, ahead of Sherwin-Williams (SHW) at 10.74%, which keeps about the industry-typical 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%

SHW

Materials industry group

10.74%

Max: 38.66%
Q3: 15.98%
SHW: 10.74%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): 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 Sherwin-Williams (SHW) at 17.56%, 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%

SHW

Materials industry group

17.56%

Max: 66.70%
Q3: 28.92%
SHW: 17.56%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Equinox Gold (EQX) and Sherwin-Williams (SHW)
Metric	EQX	SHW
ROE (TTM)	8.47%	63.70%
ROA (TTM)	6.74%	9.48%
Net Margin (TTM)	28.09%	10.74%
Operating Margin (TTM)	32.14%	17.56%
Gross Margin (TTM)	57.60%	48.60%

Growth

Revenue Growth

Equinox Gold (EQX) at 99.07% clears its industry range for revenue growth, far stronger top-line momentum than Sherwin-Williams (SHW) at 2.06%, which is closer to a typical peer reading.

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Equinox Gold (EQX) at -53.33% and Sherwin-Williams (SHW) at -2.75% 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. Sherwin-Williams (SHW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Equinox Gold (EQX) and Sherwin-Williams (SHW)
Metric	EQX	SHW
Revenue Growth (YoY)	99.07%	2.06%
Revenue Growth (3Y CAGR)	24.04%	2.10%
EPS Growth (YoY)	-53.33%	-2.75%
EPS Growth (3Y CAGR)	--	9.95%

Financial Strength

Current Ratio (MRQ)

Both Equinox Gold (EQX) at 1.33 and Sherwin-Williams (SHW) at 0.71 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

SHW

Materials industry group

0.71

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
SHW: 0.71
Min: 0.16

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Equinox Gold (EQX) at 0.13 is near its industry mid-range for debt-to-equity ratio, while Sherwin-Williams (SHW) at 3.72 sits above its benchmark range, pointing to a heavier debt load relative to equity.

EQX

Materials industry group

0.13

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

SHW

Materials industry group

3.72

SHW: 3.72
Max: 1.98
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): 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 Sherwin-Williams (SHW)
Metric	EQX	SHW
Current Ratio (MRQ)	1.33	0.71
Debt / Equity (MRQ)	0.13	3.72
Net Debt / EBITDA	0.21	3.04

Dividends

Dividend Yield (TTM)

Both Equinox Gold (EQX) at 0.27% and Sherwin-Williams (SHW) at 0.91% 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%

SHW

Materials industry group

0.91%

Max: 4.52%
Q3: 1.85%
SHW: 0.91%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both Equinox Gold (EQX) at 6.25% and Sherwin-Williams (SHW) at 29.35% 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%

SHW

Materials industry group

29.35%

Max: 83.62%
Q3: 41.37%
SHW: 29.35%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Equinox Gold (EQX) and Sherwin-Williams (SHW)
Metric	EQX	SHW
Dividend Yield (TTM)	0.27%	0.91%
Dividend Payout Ratio (TTM)	6.25%	29.35%

Valuation

P/E Ratio (TTM)

Both Equinox Gold (EQX) at 24.00 and Sherwin-Williams (SHW) at 31.66 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

EQX

Materials industry group

24.00

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

SHW

Materials industry group

31.66

Max: 59.00
Q3: 32.93
SHW: 31.66
Median: 18.82
Q1: 11.96
Min: 3.93

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Sherwin-Williams (SHW) at 3.34 is priced about in line with its industry on P/S ratio, while Equinox Gold (EQX) at 4.64 sits in the pricier quartile — EQX costs more per dollar of sales.

EQX

Materials industry group

4.64

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

SHW

Materials industry group

3.34

Max: 9.62
Q3: 4.34
SHW: 3.34
Median: 1.87
Q1: 0.73
Min: 0.00

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

Equinox Gold (EQX) at 1.43 sits near its industry’s typical P/B ratio, while Sherwin-Williams (SHW) at 20.78 prices above its benchmark range — SHW looks rich relative to book.

EQX

Materials industry group

1.43

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

SHW

Materials industry group

20.78

SHW: 20.78
Max: 6.59
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

Equinox Gold (EQX) vs. Sherwin-Williams (SHW): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Equinox Gold (EQX) and Sherwin-Williams (SHW)
Metric	EQX	SHW
P/E Ratio (TTM)	24.00	31.66
P/S Ratio (TTM)	4.64	3.34
P/B Ratio (MRQ)	1.43	20.78
Free Cash Flow Yield (TTM)	2.15%	2.98%