EQX vs. WPM: Equinox Gold vs. Wheaton Precious Metals Stock Comparison
How do Equinox Gold (EQX) and Wheaton Precious Metals (WPM) 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 Wheaton Precious Metals (WPM) 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 | WPM |
|---|---|---|
| Name | Equinox Gold Corp. | Wheaton Precious Metals Corp. |
| 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 | 61.91 billion USD |
| Currency | USD | USD |
| Exchange | NYSE American | NYSE |
| Listing Date | January 2, 2019 | July 6, 2005 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | EQX | WPM |
|---|---|---|
| Total Return (1Y) | 1.87% | 45.35% |
| Total Return (3Y, Annualized) | 37.49% | 50.60% |
| Total Return (5Y, Annualized) | 8.54% | 29.06% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | EQX | WPM |
|---|---|---|
| Volatility (1Y, Annualized) | 63.25% | 52.11% |
| Beta (5Y) | 1.25 | 0.49 |
| Max Drawdown (5Y) | -71.57% | -43.29% |
| Avg. Volume (3M) | 12.60M | 2.01M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | EQX | WPM |
|---|---|---|
| Sharpe Ratio (1Y) | -0.04 | 0.79 |
| Sortino Ratio (1Y) | -0.06 | 1.14 |
Profitability
ROE (TTM)
Wheaton Precious Metals (WPM) at 23.10% sits in the top ROE quartile, while Equinox Gold (EQX) at 8.47% is closer to the peer norm — stronger capital efficiency for WPM.
EQX
Materials industry group
8.47%
- Max
- 52.88%
- Q3
- 19.49%
- Median
- 8.76%
- EQX
- 8.47%
- Q1
- -3.41%
- Min
- -32.81%
WPM
Materials industry group
23.10%
- Max
- 52.88%
- WPM
- 23.10%
- Q3
- 19.49%
- Median
- 8.76%
- Q1
- -3.41%
- Min
- -32.81%
Net Margin (TTM)
Wheaton Precious Metals (WPM) at 60.39% 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%
WPM
Materials industry group
60.39%
- WPM
- 60.39%
- Max
- 38.66%
- Q3
- 15.98%
- Median
- 5.28%
- Q1
- 0.00%
- Min
- -20.40%
Operating Margin (TTM)
Both Equinox Gold (EQX) at 32.14% and Wheaton Precious Metals (WPM) at 66.70% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.
EQX
Materials industry group
32.14%
- Max
- 66.70%
- EQX
- 32.14%
- Q3
- 28.92%
- Median
- 12.56%
- Q1
- 3.28%
- Min
- -14.07%
WPM
Materials industry group
66.70%
- WPM
- 66.70%
- Max
- 66.70%
- Q3
- 28.92%
- Median
- 12.56%
- Q1
- 3.28%
- Min
- -14.07%
Profitability Metrics
| Metric | EQX | WPM |
|---|---|---|
| ROE (TTM) | 8.47% | 23.10% |
| ROA (TTM) | 6.74% | 15.22% |
| Net Margin (TTM) | 28.09% | 60.39% |
| Operating Margin (TTM) | 32.14% | 66.70% |
| Gross Margin (TTM) | 57.60% | 86.61% |
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; Wheaton Precious Metals (WPM) at 80.18% also sits in the top quartile.
EPS Growth
Wheaton Precious Metals (WPM) at 177.85% sits in the top EPS growth quartile, while Equinox Gold (EQX) at -53.33% is closer to the peer norm — faster per-share earnings growth for WPM.
Growth Metrics
| Metric | EQX | WPM |
|---|---|---|
| Revenue Growth (YoY) | 99.07% | 80.18% |
| Revenue Growth (3Y CAGR) | 24.04% | 29.53% |
| EPS Growth (YoY) | -53.33% | 177.85% |
| EPS Growth (3Y CAGR) | -- | 29.83% |
Financial Strength
Current Ratio (MRQ)
Both Equinox Gold (EQX) at 1.33 and Wheaton Precious Metals (WPM) at 0.57 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
WPM
Materials industry group
0.57
- Max
- 5.96
- Q3
- 3.30
- Median
- 2.24
- Q1
- 1.45
- WPM
- 0.57
- Min
- 0.16
Debt / Equity (MRQ)
Both Equinox Gold (EQX) at 0.13 and Wheaton Precious Metals (WPM) at 0.16 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
WPM
Materials industry group
0.16
- Max
- 1.98
- Q3
- 0.89
- Median
- 0.47
- WPM
- 0.16
- Q1
- 0.13
- Min
- 0.00
Financial Strength Metrics
| Metric | EQX | WPM |
|---|---|---|
| Current Ratio (MRQ) | 1.33 | 0.57 |
| Debt / Equity (MRQ) | 0.13 | 0.16 |
| Net Debt / EBITDA | 0.21 | 0.50 |
Dividends
Dividend Yield (TTM)
Both Equinox Gold (EQX) at 0.27% and Wheaton Precious Metals (WPM) at 0.57% 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%
WPM
Materials industry group
0.57%
- Max
- 4.52%
- Q3
- 1.85%
- WPM
- 0.57%
- Median
- 0.38%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both Equinox Gold (EQX) at 6.25% and Wheaton Precious Metals (WPM) at 16.29% 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%
WPM
Materials industry group
16.29%
- Max
- 83.62%
- Q3
- 41.37%
- WPM
- 16.29%
- Median
- 9.54%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | EQX | WPM |
|---|---|---|
| Dividend Yield (TTM) | 0.27% | 0.57% |
| Dividend Payout Ratio (TTM) | 6.25% | 16.29% |
Valuation
P/E Ratio (TTM)
Both Equinox Gold (EQX) at 24.00 and Wheaton Precious Metals (WPM) at 29.63 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
WPM
Materials industry group
29.63
- Max
- 59.00
- Q3
- 32.93
- WPM
- 29.63
- 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 Wheaton Precious Metals (WPM) at 17.86 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
WPM
Materials industry group
17.86
- WPM
- 17.86
- 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 Wheaton Precious Metals (WPM) at 6.17 carries an above-peer premium to book — WPM 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
WPM
Materials industry group
6.17
- Max
- 6.59
- WPM
- 6.17
- Q3
- 3.55
- Median
- 2.08
- Q1
- 1.26
- Min
- -0.17
Valuation Metrics
| Metric | EQX | WPM |
|---|---|---|
| P/E Ratio (TTM) | 24.00 | 29.63 |
| P/S Ratio (TTM) | 4.64 | 17.86 |
| P/B Ratio (MRQ) | 1.43 | 6.17 |
| Free Cash Flow Yield (TTM) | 2.15% | -5.11% |