B2GOLD CORP (BTG) Stock Fundamental Analysis
USA - NYSEARCA:BTG - CA11777Q2099 - Common Stock
4.32 USD
-0.07 (-1.59%)
4.33 USD
+0.01 (+0.23%)
We assign a fundamental rating of 5 out of 10 to BTG. BTG was compared to 156 industry peers in the Metals & Mining industry. There are concerns on the financial health of BTG while its profitability can be described as average. BTG has a decent growth rate and is not valued too expensively.
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.
Each year in the past 5 years BTG had a positive operating cash flow.
1.2 Ratios
BTG has a worse Return On Assets (-8.17%) than 69.87% of its industry peers.
BTG has a Return On Equity of -13.26%. This is in the lower half of the industry: BTG underperforms 64.10% of its industry peers.
Looking at the Return On Invested Capital, with a value of 14.06%, BTG belongs to the top of the industry, outperforming 92.95% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for BTG is in line with the industry average of 12.92%.
The last Return On Invested Capital (14.06%) for BTG is above the 3 year average (11.55%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -8.17% | ||
| ROE | -13.26% | ||
| ROIC | 14.06% |
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
The Operating Margin of BTG (35.54%) is better than 88.46% of its industry peers.
BTG's Operating Margin has been stable in the last couple of years.
The Gross Margin of BTG (41.34%) is better than 79.49% of its industry peers.
BTG's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 35.54% | ||
| PM (TTM) | N/A | ||
| GM | 41.34% |
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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BTG is creating some value.
Compared to 1 year ago, BTG has more shares outstanding
BTG has more shares outstanding than it did 5 years ago.
BTG has a worse debt/assets ratio than last year.
2.2 Solvency
BTG has an Altman-Z score of 2.50. This is not the best score and indicates that BTG is in the grey zone with still only limited risk for bankruptcy at the moment.
BTG's Altman-Z score of 2.50 is in line compared to the rest of the industry. BTG outperforms 45.51% of its industry peers.
A Debt/Equity ratio of 0.13 indicates that BTG is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.13, BTG perfoms like the industry average, outperforming 57.05% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.13 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.5 |
ROIC/WACC1.58
WACC8.89%
2.3 Liquidity
A Current Ratio of 0.98 indicates that BTG may have some problems paying its short term obligations.
With a Current ratio value of 0.98, BTG is not doing good in the industry: 83.33% of the companies in the same industry are doing better.
BTG has a Quick Ratio of 0.98. This is a bad value and indicates that BTG is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.40, BTG is not doing good in the industry: 89.74% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.98 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
BTG shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by 0.00%.
BTG shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -9.71% yearly.
The Revenue has grown by 11.75% in the past year. This is quite good.
The Revenue has been growing by 10.48% on average over the past years. This is quite good.
EPS 1Y (TTM)0%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%100%
Revenue 1Y (TTM)11.75%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%40.53%
3.2 Future
The Earnings Per Share is expected to grow by 20.67% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 13.98% on average over the next years. This is quite good.
EPS Next Y274.82%
EPS Next 2Y92.44%
EPS Next 3Y65.54%
EPS Next 5Y20.67%
Revenue Next Year66.96%
Revenue Next 2Y34.5%
Revenue Next 3Y21.59%
Revenue Next 5Y13.98%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 18.00, BTG is valued on the expensive side.
BTG's Price/Earnings ratio is rather cheap when compared to the industry. BTG is cheaper than 84.62% of the companies in the same industry.
BTG's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.20.
A Price/Forward Earnings ratio of 7.78 indicates a rather cheap valuation of BTG.
Compared to the rest of the industry, the Price/Forward Earnings ratio of BTG indicates a rather cheap valuation: BTG is cheaper than 92.95% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.71, BTG is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18 | ||
| Fwd PE | 7.78 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTG is valued cheaper than 92.31% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 5.18 |
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.
A more expensive valuation may be justified as BTG's earnings are expected to grow with 65.54% in the coming years.
PEG (NY)0.07
PEG (5Y)N/A
EPS Next 2Y92.44%
EPS Next 3Y65.54%
5. Dividend
5.1 Amount
BTG has a Yearly Dividend Yield of 3.52%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 2.51, BTG pays a better dividend. On top of this BTG pays more dividend than 93.59% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, BTG pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.52% |
5.2 History
The dividend of BTG is nicely growing with an annual growth rate of 69.07%!
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
The earnings of BTG are negative and hence is the payout ratio. BTG will probably not be able to sustain this dividend level.
The dividend of BTG is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP-33.27%
EPS Next 2Y92.44%
EPS Next 3Y65.54%
4.32
-0.07 (-1.59%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners60.74%
Inst Owner Change4.04%
Ins Owners0.64%
Ins Owner ChangeN/A
Market Cap5.72B
Analysts72.5
Price Target4.88 (12.96%)
Short Float %4.52%
Short Ratio1.61
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.52% |
Yearly Dividend0.14
Dividend Growth(5Y)69.07%
DP-33.27%
Div Incr Years0
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.84%
Min EPS beat(2)-11.53%
Max EPS beat(2)1.84%
EPS beat(4)1
Avg EPS beat(4)-39.36%
Min EPS beat(4)-86.5%
Max EPS beat(4)1.84%
EPS beat(8)2
Avg EPS beat(8)-25.06%
EPS beat(12)4
Avg EPS beat(12)-18.05%
EPS beat(16)5
Avg EPS beat(16)-14.6%
Revenue beat(2)0
Avg Revenue beat(2)-5.99%
Min Revenue beat(2)-9.16%
Max Revenue beat(2)-2.83%
Revenue beat(4)0
Avg Revenue beat(4)-3.31%
Min Revenue beat(4)-9.16%
Max Revenue beat(4)-0.23%
Revenue beat(8)3
Avg Revenue beat(8)-0.59%
Revenue beat(12)5
Avg Revenue beat(12)-0.22%
Revenue beat(16)7
Avg Revenue beat(16)-0.48%
PT rev (1m)-1.46%
PT rev (3m)7.74%
EPS NQ rev (1m)8.97%
EPS NQ rev (3m)37.39%
EPS NY rev (1m)29.18%
EPS NY rev (3m)29.18%
Revenue NQ rev (1m)3.25%
Revenue NQ rev (3m)21.69%
Revenue NY rev (1m)6.27%
Revenue NY rev (3m)8.9%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18 | ||
| Fwd PE | 7.78 | ||
| P/S | 2.63 | ||
| P/FCF | N/A | ||
| P/OCF | 10.62 | ||
| P/B | 1.75 | ||
| P/tB | 1.75 | ||
| EV/EBITDA | 5.18 |
EPS(TTM)0.24
EY5.56%
EPS(NY)0.56
Fwd EY12.86%
FCF(TTM)-0.27
FCFYN/A
OCF(TTM)0.41
OCFY9.42%
SpS1.64
BVpS2.47
TBVpS2.47
PEG (NY)0.07
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -8.17% | ||
| ROE | -13.26% | ||
| ROCE | 17.8% | ||
| ROIC | 14.06% | ||
| ROICexc | 15.15% | ||
| ROICexgc | 15.15% | ||
| OM | 35.54% | ||
| PM (TTM) | N/A | ||
| GM | 41.34% | ||
| 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%
ROICexcg growth 3Y-16.06%
ROICexcg 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-Score4
Asset Turnover0.41
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.13 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.36 | ||
| Cap/Depr | 238.11% | ||
| Cap/Sales | 41.02% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 46.96% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.98 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 2.5 |
F-Score4
WACC8.89%
ROIC/WACC1.58
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)0%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%100%
EPS Next Y274.82%
EPS Next 2Y92.44%
EPS Next 3Y65.54%
EPS Next 5Y20.67%
Revenue 1Y (TTM)11.75%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%40.53%
Revenue Next Year66.96%
Revenue Next 2Y34.5%
Revenue Next 3Y21.59%
Revenue Next 5Y13.98%
EBIT growth 1Y15.53%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year634.57%
EBIT Next 3Y96.49%
EBIT Next 5Y49.1%
FCF growth 1Y-237.87%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-29.39%
OCF growth 3Y6.62%
OCF growth 5Y12.27%