Time domain equalizer performance in a non-minimum phase multipath channel is estimated analytically. In a two-ray fading model, this channel is characterized by the amplitude ratio if the interfering ray to the direct ray, where the ratio is greater than unity. Based on the theoretical analysis of intersymbol interference, it is shown that in the non-minimum phase condition the decision feedback equalizer does not have as large an improvement factor as has been reported for minimum phase condition. However, detailed signature analysis shows that the decision feedback equalizer in the non-minimum phase condition has an equalization capability better than a linear transversal equalizer in a range where the amplitude ratio is close to unity.