EQX vs. SW: Equinox Gold vs. Smurfit Westrock Stock Comparison

November 11, 2026

How do Equinox Gold (EQX) and Smurfit Westrock (SW) 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 Smurfit Westrock (SW) both fall under the Materials industry group, but EQX is classified in Metals & Mining while SW is classified in Containers & Packaging.

Company profile comparison for Equinox Gold (EQX) and Smurfit Westrock (SW)
Profile Item	EQX	SW
Name	Equinox Gold Corp.	Smurfit WestRock Plc
Country/Region	Canada	Ireland
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Containers & Packaging
GICS Sub-Industry	Gold	Paper & Plastic Packaging Products & Materials
Market Capitalization	13.45 billion USD	23.13 billion USD
Currency	USD	USD
Exchange	NYSE American	NYSE
Listing Date	January 2, 2019	June 17, 2008
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

EQX

GSPC

Equinox Gold (EQX) vs. Smurfit Westrock (SW), 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 Smurfit Westrock (SW). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Equinox Gold (EQX) and Smurfit Westrock (SW)
Metric	EQX	SW
Total Return (1Y)	1.87%	29.05%
Total Return (3Y, Annualized)	37.49%	14.60%
Total Return (5Y, Annualized)	8.54%	-0.16%

Risk Profile

Drawdown History

EQX

GSPC

Equinox Gold (EQX) vs. Smurfit Westrock (SW), 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 Smurfit Westrock (SW). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Equinox Gold (EQX) and Smurfit Westrock (SW)
Metric	EQX	SW
Volatility (1Y, Annualized)	63.25%	42.69%
Beta (5Y)	1.25	0.89
Max Drawdown (5Y)	-71.57%	-53.49%
Avg. Volume (3M)	12.60M	4.66M

Risk-Adjusted Performance

Risk-Return Positioning

EQX and SW 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 Smurfit Westrock (SW)
Metric	EQX	SW
Sharpe Ratio (1Y)	-0.04	0.58
Sortino Ratio (1Y)	-0.06	0.94

Profitability

ROE (TTM)

Both Equinox Gold (EQX) at 8.47% and Smurfit Westrock (SW) at 2.57% 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%

SW

Materials industry group

2.57%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
SW: 2.57%
Q1: -3.41%
Min: -32.81%

Equinox Gold (EQX) vs. Smurfit Westrock (SW): 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 Smurfit Westrock (SW) at 1.50%, 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%

SW

Materials industry group

1.50%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
SW: 1.50%
Q1: 0.00%
Min: -20.40%

Equinox Gold (EQX) vs. Smurfit Westrock (SW): 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 Smurfit Westrock (SW) at 6.38%, 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%

SW

Materials industry group

6.38%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
SW: 6.38%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Equinox Gold (EQX) and Smurfit Westrock (SW)
Metric	EQX	SW
ROE (TTM)	8.47%	2.57%
ROA (TTM)	6.74%	2.50%
Net Margin (TTM)	28.09%	1.50%
Operating Margin (TTM)	32.14%	6.38%
Gross Margin (TTM)	57.60%	17.67%

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; Smurfit Westrock (SW) at 47.70% also sits in the top quartile.

Equinox Gold (EQX) vs. Smurfit Westrock (SW): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Equinox Gold (EQX) at -53.33% and Smurfit Westrock (SW) at 62.20% 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. Smurfit Westrock (SW): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Equinox Gold (EQX) and Smurfit Westrock (SW)
Metric	EQX	SW
Revenue Growth (YoY)	99.07%	47.70%
Revenue Growth (3Y CAGR)	24.04%	32.15%
EPS Growth (YoY)	-53.33%	62.20%
EPS Growth (3Y CAGR)	--	-30.01%

Financial Strength

Current Ratio (MRQ)

Smurfit Westrock (SW) at 1.48 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.

EQX

Materials industry group

1.33

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

SW

Materials industry group

1.48

Max: 5.96
Q3: 3.30
Median: 2.24
SW: 1.48
Q1: 1.45
Min: 0.16

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

Debt / Equity (MRQ)

Both Equinox Gold (EQX) at 0.13 and Smurfit Westrock (SW) at 0.78 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

SW

Materials industry group

0.78

Max: 1.98
Q3: 0.89
SW: 0.78
Median: 0.47
Q1: 0.13
Min: 0.00

Equinox Gold (EQX) vs. Smurfit Westrock (SW): 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 Smurfit Westrock (SW)
Metric	EQX	SW
Current Ratio (MRQ)	1.33	1.48
Debt / Equity (MRQ)	0.13	0.78
Net Debt / EBITDA	0.21	2.96

Dividends

Dividend Yield (TTM)

Smurfit Westrock (SW) at 4.02% delivers top-quartile income for its industry, while Equinox Gold (EQX) at 0.27% pays a more typical yield — both are credible income propositions, SW the richer one.

EQX

Materials industry group

0.27%

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

SW

Materials industry group

4.02%

Max: 4.52%
SW: 4.02%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Smurfit Westrock (SW) reports payout ratio above 100% at 198.63%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Equinox Gold (EQX) reports 6.25%, ranking against industry peers normally.

EQX

Materials industry group

6.25%

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

SW

Materials industry group

198.63%

SW: 198.63%
Max: 83.62%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Equinox Gold (EQX) and Smurfit Westrock (SW)
Metric	EQX	SW
Dividend Yield (TTM)	0.27%	4.02%
Dividend Payout Ratio (TTM)	6.25%	198.63%

Valuation

P/E Ratio (TTM)

Equinox Gold (EQX) at 24.00 is near its industry’s usual P/E ratio, while Smurfit Westrock (SW) at 48.99 sits in the richer quartile — SW 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

SW

Materials industry group

48.99

Max: 59.00
SW: 48.99
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

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

P/S Ratio (TTM)

Smurfit Westrock (SW) at 0.73 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

SW

Materials industry group

0.73

Max: 9.62
Q3: 4.34
Median: 1.87
SW: 0.73
Q1: 0.73
Min: 0.00

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

P/B Ratio (MRQ)

On P/B ratio, both Equinox Gold (EQX) at 1.43 and Smurfit Westrock (SW) at 1.28 are valued close to their industries’ norm against book — neither stands out from peers.

EQX

Materials industry group

1.43

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

SW

Materials industry group

1.28

Max: 6.59
Q3: 3.55
Median: 2.08
SW: 1.28
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Equinox Gold (EQX) and Smurfit Westrock (SW)
Metric	EQX	SW
P/E Ratio (TTM)	24.00	48.99
P/S Ratio (TTM)	4.64	0.73
P/B Ratio (MRQ)	1.43	1.28
Free Cash Flow Yield (TTM)	2.15%	4.26%