B2GOLD CORP (BTG) Stock Fundamental Analysis
USA - NYSEARCA:BTG - CA11777Q2099 - Common Stock
3.9844 USD
-0.01 (-0.14%)
BTG gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 154 industry peers in the Metals & Mining industry. While BTG belongs to the best of the industry regarding profitability, there are concerns on its financial health. BTG is growing strongly while it also seems undervalued. This is an interesting combination
1. Profitability
1.1 Basic Checks
In the past year BTG was profitable.
In the past year BTG had a positive cash flow from operations.
Of the past 5 years BTG 4 years were profitable.
In the past 5 years BTG always reported a positive cash flow from operatings.
1.2 Ratios
With a decent Return On Assets value of 3.85%, BTG is doing good in the industry, outperforming 71.43% of the companies in the same industry.
BTG has a better Return On Equity (6.60%) than 68.83% of its industry peers.
The Return On Invested Capital of BTG (17.29%) is better than 93.51% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BTG is in line with the industry average of 12.85%.
The last Return On Invested Capital (17.29%) for BTG is above the 3 year average (11.55%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.85% | ||
| ROE | 6.6% | ||
| ROIC | 17.29% |
ROA(3y)-2%
ROA(5y)4.89%
ROE(3y)-4.15%
ROE(5y)5.33%
ROIC(3y)11.55%
ROIC(5y)14.74%
1.3 Margins
BTG has a Profit Margin of 8.75%. This is in the better half of the industry: BTG outperforms 74.68% of its industry peers.
BTG's Operating Margin of 40.66% is amongst the best of the industry. BTG outperforms 91.56% of its industry peers.
In the last couple of years the Operating Margin of BTG has remained more or less at the same level.
With an excellent Gross Margin value of 46.01%, BTG belongs to the best of the industry, outperforming 82.47% of the companies in the same industry.
In the last couple of years the Gross Margin of BTG has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 40.66% | ||
| PM (TTM) | 8.75% | ||
| GM | 46.01% |
OM growth 3Y-7.12%
OM growth 5Y-0.62%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-5.22%
GM growth 5Y-0.97%
2. Health
2.1 Basic Checks
BTG has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
Compared to 1 year ago, BTG has more shares outstanding
BTG has more shares outstanding than it did 5 years ago.
The debt/assets ratio for BTG is higher compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.29 indicates that BTG is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of BTG (2.29) is worse than 62.34% of its industry peers.
BTG has a Debt/Equity ratio of 0.18. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.18, BTG is in line with its industry, outperforming 50.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.18 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.29 |
ROIC/WACC2.01
WACC8.6%
2.3 Liquidity
BTG has a Current Ratio of 1.03. This is a normal value and indicates that BTG is financially healthy and should not expect problems in meeting its short term obligations.
BTG has a worse Current ratio (1.03) than 83.77% of its industry peers.
BTG has a Quick Ratio of 1.03. This is a bad value and indicates that BTG is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of BTG (0.46) is worse than 90.91% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.46 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 71.43% over the past year.
The Earnings Per Share has been decreasing by -9.71% on average over the past years.
Looking at the last year, BTG shows a very strong growth in Revenue. The Revenue has grown by 30.97%.
Measured over the past years, BTG shows a quite strong growth in Revenue. The Revenue has been growing by 10.48% on average per year.
EPS 1Y (TTM)71.43%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%600%
Revenue 1Y (TTM)30.97%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%74.68%
3.2 Future
The Earnings Per Share is expected to grow by 43.86% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 17.03% on average over the next years. This is quite good.
EPS Next Y283.19%
EPS Next 2Y110.23%
EPS Next 3Y75.94%
EPS Next 5Y43.86%
Revenue Next Year67.89%
Revenue Next 2Y39.8%
Revenue Next 3Y25.35%
Revenue Next 5Y17.03%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 11.07, the valuation of BTG can be described as very reasonable.
95.45% of the companies in the same industry are more expensive than BTG, based on the Price/Earnings ratio.
BTG is valuated cheaply when we compare the Price/Earnings ratio to 25.46, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 6.01, the valuation of BTG can be described as very cheap.
Based on the Price/Forward Earnings ratio, BTG is valued cheaply inside the industry as 95.45% of the companies are valued more expensively.
The average S&P500 Price/Forward Earnings ratio is at 35.39. BTG is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.07 | ||
| Fwd PE | 6.01 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTG is valued cheaply inside the industry as 97.40% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 3.93 |
4.3 Compensation for Growth
BTG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of BTG may justify a higher PE ratio.
BTG's earnings are expected to grow with 75.94% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.04
PEG (5Y)N/A
EPS Next 2Y110.23%
EPS Next 3Y75.94%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.77%, BTG has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 2.63, BTG pays a better dividend. On top of this BTG pays more dividend than 94.81% of the companies listed in the same industry.
BTG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.77% |
5.2 History
On average, the dividend of BTG grows each year by 69.07%, which is quite nice.
BTG has been paying a dividend for over 5 years, so it has already some track record.
BTG has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)69.07%
Div Incr Years0
Div Non Decr Years5
5.3 Sustainability
BTG pays out 56.73% of its income as dividend. This is a bit on the high side, but may be sustainable.
BTG's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP56.73%
EPS Next 2Y110.23%
EPS Next 3Y75.94%
NYSEARCA:BTG (11/19/2025, 2:58:32 PM)
3.9844
-0.01 (-0.14%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners63.91%
Inst Owner Change0.95%
Ins Owners0.61%
Ins Owner ChangeN/A
Market Cap5.27B
Revenue(TTM)2.51B
Net Income(TTM)219.32M
Analysts72.5
Price Target5.81 (45.82%)
Short Float %3.53%
Short Ratio0.83
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.77% |
Yearly Dividend0.14
Dividend Growth(5Y)69.07%
DP56.73%
Div Incr Years0
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-10.42%
Min EPS beat(2)-11.53%
Max EPS beat(2)-9.32%
EPS beat(4)1
Avg EPS beat(4)-26.38%
Min EPS beat(4)-86.5%
Max EPS beat(4)1.84%
EPS beat(8)2
Avg EPS beat(8)-23.05%
EPS beat(12)4
Avg EPS beat(12)-14.79%
EPS beat(16)5
Avg EPS beat(16)-14.61%
Revenue beat(2)0
Avg Revenue beat(2)-5.61%
Min Revenue beat(2)-8.39%
Max Revenue beat(2)-2.83%
Revenue beat(4)0
Avg Revenue beat(4)-5.35%
Min Revenue beat(4)-9.16%
Max Revenue beat(4)-1.03%
Revenue beat(8)3
Avg Revenue beat(8)-1.42%
Revenue beat(12)5
Avg Revenue beat(12)-0.64%
Revenue beat(16)7
Avg Revenue beat(16)-0.89%
PT rev (1m)17.54%
PT rev (3m)17.37%
EPS NQ rev (1m)0.8%
EPS NQ rev (3m)13.64%
EPS NY rev (1m)0.02%
EPS NY rev (3m)32.07%
Revenue NQ rev (1m)0.82%
Revenue NQ rev (3m)5.46%
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)6.87%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.07 | ||
| Fwd PE | 6.01 | ||
| P/S | 2.1 | ||
| P/FCF | N/A | ||
| P/OCF | 7.26 | ||
| P/B | 1.59 | ||
| P/tB | 1.59 | ||
| EV/EBITDA | 3.93 |
EPS(TTM)0.36
EY9.04%
EPS(NY)0.66
Fwd EY16.64%
FCF(TTM)-0.16
FCFYN/A
OCF(TTM)0.55
OCFY13.78%
SpS1.9
BVpS2.51
TBVpS2.51
PEG (NY)0.04
PEG (5Y)N/A
Graham Number4.51
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.85% | ||
| ROE | 6.6% | ||
| ROCE | 21.89% | ||
| ROIC | 17.29% | ||
| ROICexc | 18.81% | ||
| ROICexgc | 18.81% | ||
| OM | 40.66% | ||
| PM (TTM) | 8.75% | ||
| GM | 46.01% | ||
| FCFM | N/A |
ROA(3y)-2%
ROA(5y)4.89%
ROE(3y)-4.15%
ROE(5y)5.33%
ROIC(3y)11.55%
ROIC(5y)14.74%
ROICexc(3y)13.08%
ROICexc(5y)17.32%
ROICexgc(3y)13.08%
ROICexgc(5y)17.32%
ROCE(3y)14.62%
ROCE(5y)18.66%
ROICexgc growth 3Y-16.06%
ROICexgc growth 5Y-0.47%
ROICexc growth 3Y-16.06%
ROICexc growth 5Y-0.47%
OM growth 3Y-7.12%
OM growth 5Y-0.62%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-5.22%
GM growth 5Y-0.97%
F-Score6
Asset Turnover0.44
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.18 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.43 | ||
| Cap/Depr | 239.32% | ||
| Cap/Sales | 37.22% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 51.54% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.46 | ||
| Altman-Z | 2.29 |
F-Score6
WACC8.6%
ROIC/WACC2.01
Cap/Depr(3y)185.06%
Cap/Depr(5y)150.39%
Cap/Sales(3y)37.73%
Cap/Sales(5y)30.01%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)71.43%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%600%
EPS Next Y283.19%
EPS Next 2Y110.23%
EPS Next 3Y75.94%
EPS Next 5Y43.86%
Revenue 1Y (TTM)30.97%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%74.68%
Revenue Next Year67.89%
Revenue Next 2Y39.8%
Revenue Next 3Y25.35%
Revenue Next 5Y17.03%
EBIT growth 1Y64.31%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year759.11%
EBIT Next 3Y109.45%
EBIT Next 5Y63.41%
FCF growth 1Y-267.06%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-6.83%
OCF growth 3Y6.62%
OCF growth 5Y12.27%
B2GOLD CORP / BTG FAQ
What is the ChartMill fundamental rating of B2GOLD CORP (BTG) stock?
ChartMill assigns a fundamental rating of 6 / 10 to BTG.
What is the valuation status of B2GOLD CORP (BTG) stock?
ChartMill assigns a valuation rating of 8 / 10 to B2GOLD CORP (BTG). This can be considered as Undervalued.
Can you provide the profitability details for B2GOLD CORP?
B2GOLD CORP (BTG) has a profitability rating of 7 / 10.
What is the earnings growth outlook for B2GOLD CORP?
The Earnings per Share (EPS) of B2GOLD CORP (BTG) is expected to grow by 283.19% in the next year.
Is the dividend of B2GOLD CORP sustainable?
The dividend rating of B2GOLD CORP (BTG) is 6 / 10 and the dividend payout ratio is 56.73%.