Yes, EQUIVALENTS is a Scrabble word!

Letter values in Scrabble US: E 1, Q 10, U 1, I 1, V 4, A 1, L 1, E 1, N 1, T 1, S 1.

Is it a valid word?

EQUIVALENTS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a person or thing equal to another in value or measure or force or effect or significance etc
the atomic weight of an element that has the same combining capacity as a given weight of another element; the standard is 8 for oxygen

Also: equivalent weight, combining weight.

Not playable in Scrabble US: EQ.