Equinox Gold Corp. cash flow statement

In fiscal 2025, Equinox Gold Corp.'s operations generated $818m of cash; it spent $692m on capital projects, leaving free cash flow of $126m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Equinox Gold Corp.: cash flow statement, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	−23	60	256	321	56	358	372	818
Depreciation and amortisation	4	39	132	197	187	215	110	340
Stock-based pay	6	6	8	7	—	—	—	—
Capital spending	103	98	175	344	557	523	412	692
Free cash flow	−126	−38	81	−23	−501	−165	−40	126
Free cash flow after stock pay	−132	−43	73	−31	—	—	—	—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Equinox Gold Corp.'s SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Equinox Gold Corp.