EQX vs. VMC: Equinox Gold vs. Vulcan Materials Stock Comparison

November 11, 2026

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

Company profile comparison for Equinox Gold (EQX) and Vulcan Materials (VMC)
Profile Item	EQX	VMC
Name	Equinox Gold Corp.	Vulcan Materials Company
Country/Region	Canada	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Construction Materials
GICS Sub-Industry	Gold	Construction Materials
Market Capitalization	13.45 billion USD	36.29 billion USD
Currency	USD	USD
Exchange	NYSE American	NYSE
Listing Date	January 2, 2019	February 21, 1973
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

EQX

VMC

GSPC

Equinox Gold (EQX) vs. Vulcan Materials (VMC), 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 Vulcan Materials (VMC). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Equinox Gold (EQX) and Vulcan Materials (VMC)
Metric	EQX	VMC
Total Return (1Y)	1.87%	2.25%
Total Return (3Y, Annualized)	37.49%	12.53%
Total Return (5Y, Annualized)	8.54%	8.08%

Risk Profile

Drawdown History

EQX

VMC

GSPC

Equinox Gold (EQX) vs. Vulcan Materials (VMC), 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 Vulcan Materials (VMC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Equinox Gold (EQX) and Vulcan Materials (VMC)
Metric	EQX	VMC
Volatility (1Y, Annualized)	63.25%	30.13%
Beta (5Y)	1.25	0.98
Max Drawdown (5Y)	-71.57%	-32.50%
Avg. Volume (3M)	12.60M	1.16M

Risk-Adjusted Performance

Risk-Return Positioning

EQX and VMC 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 Vulcan Materials (VMC)
Metric	EQX	VMC
Sharpe Ratio (1Y)	-0.04	-0.07
Sortino Ratio (1Y)	-0.06	-0.09

Profitability

ROE (TTM)

Both Equinox Gold (EQX) at 8.47% and Vulcan Materials (VMC) at 12.88% 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%

VMC

Materials industry group

12.88%

Max: 52.88%
Q3: 19.49%
VMC: 12.88%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Equinox Gold (EQX) vs. Vulcan Materials (VMC): 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 Vulcan Materials (VMC) at 13.78%, 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%

VMC

Materials industry group

13.78%

Max: 38.66%
Q3: 15.98%
VMC: 13.78%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Equinox Gold (EQX) vs. Vulcan Materials (VMC): 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 Vulcan Materials (VMC) at 23.95%, 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%

VMC

Materials industry group

23.95%

Max: 66.70%
Q3: 28.92%
VMC: 23.95%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Equinox Gold (EQX) and Vulcan Materials (VMC)
Metric	EQX	VMC
ROE (TTM)	8.47%	12.88%
ROA (TTM)	6.74%	5.89%
Net Margin (TTM)	28.09%	13.78%
Operating Margin (TTM)	32.14%	23.95%
Gross Margin (TTM)	57.60%	27.48%

Growth

Revenue Growth

Equinox Gold (EQX) at 99.07% clears its industry range for revenue growth, far stronger top-line momentum than Vulcan Materials (VMC) at 7.06%, which is closer to a typical peer reading.

Equinox Gold (EQX) vs. Vulcan Materials (VMC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Equinox Gold (EQX) at -53.33% and Vulcan Materials (VMC) at 18.39% 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. Vulcan Materials (VMC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Equinox Gold (EQX) and Vulcan Materials (VMC)
Metric	EQX	VMC
Revenue Growth (YoY)	99.07%	7.06%
Revenue Growth (3Y CAGR)	24.04%	2.77%
EPS Growth (YoY)	-53.33%	18.39%
EPS Growth (3Y CAGR)	--	23.46%

Financial Strength

Current Ratio (MRQ)

Both Equinox Gold (EQX) at 1.33 and Vulcan Materials (VMC) at 1.43 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

VMC

Materials industry group

1.43

Max: 5.96
Q3: 3.30
Median: 2.24
Q1: 1.45
VMC: 1.43
Min: 0.16

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

Debt / Equity (MRQ)

Both Equinox Gold (EQX) at 0.13 and Vulcan Materials (VMC) at 0.63 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

VMC

Materials industry group

0.63

Max: 1.98
Q3: 0.89
VMC: 0.63
Median: 0.47
Q1: 0.13
Min: 0.00

Equinox Gold (EQX) vs. Vulcan Materials (VMC): 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 Vulcan Materials (VMC)
Metric	EQX	VMC
Current Ratio (MRQ)	1.33	1.43
Debt / Equity (MRQ)	0.13	0.63
Net Debt / EBITDA	0.21	2.27

Dividends

Dividend Yield (TTM)

Both Equinox Gold (EQX) at 0.27% and Vulcan Materials (VMC) at 0.72% 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%

VMC

Materials industry group

0.72%

Max: 4.52%
Q3: 1.85%
VMC: 0.72%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Both Equinox Gold (EQX) at 6.25% and Vulcan Materials (VMC) at 24.26% 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%

VMC

Materials industry group

24.26%

Max: 83.62%
Q3: 41.37%
VMC: 24.26%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Equinox Gold (EQX) and Vulcan Materials (VMC)
Metric	EQX	VMC
Dividend Yield (TTM)	0.27%	0.72%
Dividend Payout Ratio (TTM)	6.25%	24.26%

Valuation

P/E Ratio (TTM)

Equinox Gold (EQX) at 24.00 is near its industry’s usual P/E ratio, while Vulcan Materials (VMC) at 33.46 sits in the richer quartile — VMC 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

VMC

Materials industry group

33.46

Max: 59.00
VMC: 33.46
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93

Equinox Gold (EQX) vs. Vulcan Materials (VMC): 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 Vulcan Materials (VMC) at 4.53 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

VMC

Materials industry group

4.53

Max: 9.62
VMC: 4.53
Q3: 4.34
Median: 1.87
Q1: 0.73
Min: 0.00

Equinox Gold (EQX) vs. Vulcan Materials (VMC): 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 Vulcan Materials (VMC) at 4.31 carries an above-peer premium to book — VMC 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

VMC

Materials industry group

4.31

Max: 6.59
VMC: 4.31
Q3: 3.55
Median: 2.08
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Equinox Gold (EQX) and Vulcan Materials (VMC)
Metric	EQX	VMC
P/E Ratio (TTM)	24.00	33.46
P/S Ratio (TTM)	4.64	4.53
P/B Ratio (MRQ)	1.43	4.31
Free Cash Flow Yield (TTM)	2.15%	1.96%