B2GOLD CORP (BTG) Stock Fundamental Analysis
NYSEARCA:BTG - NYSE Arca - CA11777Q2099 - Common Stock - Currency: USD
BTG gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 152 industry peers in the Metals & Mining industry. BTG has a medium profitability rating, but doesn't score so well on its financial health evaluation. BTG is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
BTG had positive earnings in the past year.
BTG had a positive operating cash flow in the past year.
BTG had positive earnings in 4 of the past 5 years.
In the past 5 years BTG always reported a positive cash flow from operatings.
1.2 Ratios
BTG has a worse Return On Assets (-13.08%) than 69.74% of its industry peers.
BTG has a Return On Equity of -21.12%. This is in the lower half of the industry: BTG underperforms 69.74% of its industry peers.
BTG's Return On Invested Capital of 11.08% is amongst the best of the industry. BTG outperforms 90.13% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BTG is above the industry average of 8.61%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -13.08% | ||
| ROE | -21.12% | ||
| ROIC | 11.08% |
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 Operating Margin of 31.21%. This is amongst the best in the industry. BTG outperforms 87.50% of its industry peers.
In the last couple of years the Operating Margin of BTG has remained more or less at the same level.
BTG has a better Gross Margin (37.13%) than 78.29% of its industry peers.
BTG's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 31.21% | ||
| PM (TTM) | N/A | ||
| GM | 37.13% |
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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BTG is still creating some value.
Compared to 1 year ago, BTG has more shares outstanding
The number of shares outstanding for BTG has been increased compared to 5 years ago.
Compared to 1 year ago, BTG has a worse debt to assets ratio.
2.2 Solvency
BTG has an Altman-Z score of 2.15. 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 has a Altman-Z score of 2.15. This is comparable to the rest of the industry: BTG outperforms 50.00% of its industry peers.
A Debt/Equity ratio of 0.14 indicates that BTG is not too dependend on debt financing.
BTG has a Debt to Equity ratio (0.14) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.14 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.15 |
ROIC/WACC1.25
WACC8.85%
2.3 Liquidity
A Current Ratio of 1.55 indicates that BTG should not have too much problems paying its short term obligations.
BTG's Current ratio of 1.55 is on the low side compared to the rest of the industry. BTG is outperformed by 68.42% of its industry peers.
BTG has a Quick Ratio of 1.55. 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 0.73, BTG is not doing good in the industry: 78.95% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.55 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
BTG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -48.28%.
Measured over the past years, BTG shows a decrease in Earnings Per Share. The EPS has been decreasing by -9.71% on average per year.
BTG shows a decrease in Revenue. In the last year, the revenue decreased by -1.67%.
The Revenue has been growing by 10.48% on average over the past years. This is quite good.
EPS 1Y (TTM)-48.28%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%-85.71%
Revenue 1Y (TTM)-1.67%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%-2.38%
3.2 Future
Based on estimates for the next years, BTG will show a very strong growth in Earnings Per Share. The EPS will grow by 20.35% on average per year.
BTG is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.93% yearly.
EPS Next Y190.15%
EPS Next 2Y72.71%
EPS Next 3Y41.04%
EPS Next 5Y20.35%
Revenue Next Year42.48%
Revenue Next 2Y20.34%
Revenue Next 3Y12.93%
Revenue Next 5YN/A
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
The Price/Earnings ratio is 21.07, which indicates a rather expensive current valuation of BTG.
BTG's Price/Earnings ratio is a bit cheaper when compared to the industry. BTG is cheaper than 70.39% 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 28.33.
Based on the Price/Forward Earnings ratio of 7.26, the valuation of BTG can be described as very cheap.
BTG's Price/Forward Earnings ratio is rather cheap when compared to the industry. BTG is cheaper than 95.39% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 21.37. BTG is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.07 | ||
| Fwd PE | 7.26 |
4.2 Price Multiples
BTG's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BTG is cheaper than 90.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.57 |
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.
BTG's earnings are expected to grow with 41.04% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.11
PEG (5Y)N/A
EPS Next 2Y72.71%
EPS Next 3Y41.04%
5. Dividend
5.1 Amount
BTG has a Yearly Dividend Yield of 4.74%, which is a nice return.
BTG's Dividend Yield is rather good when compared to the industry average which is at 2.99. BTG pays more dividend than 91.45% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.51, BTG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.74% |
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.
As BTG did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)69.07%
Div Incr Years0
Div Non Decr Years5
5.3 Sustainability
BTG has negative earnings and hence a negative payout ratio. The dividend may be in danger.
BTG's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP-29.31%
EPS Next 2Y72.71%
EPS Next 3Y41.04%
3.16
-0.11 (-3.36%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners58.28%
Inst Owner Change-0.04%
Ins Owners0.57%
Ins Owner ChangeN/A
Market Cap4.17B
Analysts72
Price Target3.83 (21.2%)
Short Float %4.35%
Short Ratio1.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.74% |
Yearly Dividend0.14
Dividend Growth(5Y)69.07%
DP-29.31%
Div Incr Years0
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-73.88%
Min EPS beat(2)-86.5%
Max EPS beat(2)-61.26%
EPS beat(4)1
Avg EPS beat(4)-38.29%
Min EPS beat(4)-86.5%
Max EPS beat(4)12.09%
EPS beat(8)3
Avg EPS beat(8)-18.06%
EPS beat(12)4
Avg EPS beat(12)-17.48%
EPS beat(16)5
Avg EPS beat(16)-14.01%
Revenue beat(2)0
Avg Revenue beat(2)-0.63%
Min Revenue beat(2)-1.03%
Max Revenue beat(2)-0.23%
Revenue beat(4)2
Avg Revenue beat(4)1.97%
Min Revenue beat(4)-1.03%
Max Revenue beat(4)5.69%
Revenue beat(8)5
Avg Revenue beat(8)1.8%
Revenue beat(12)6
Avg Revenue beat(12)0.45%
Revenue beat(16)9
Avg Revenue beat(16)6.45%
PT rev (1m)0.86%
PT rev (3m)-11.47%
EPS NQ rev (1m)10.41%
EPS NQ rev (3m)17.77%
EPS NY rev (1m)5.05%
EPS NY rev (3m)17.37%
Revenue NQ rev (1m)7.8%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.07 | ||
| Fwd PE | 7.26 | ||
| P/S | 2.19 | ||
| P/FCF | N/A | ||
| P/OCF | 4.75 | ||
| P/B | 1.4 | ||
| P/tB | 1.4 | ||
| EV/EBITDA | 4.57 |
EPS(TTM)0.15
EY4.75%
EPS(NY)0.44
Fwd EY13.77%
FCF(TTM)-0.03
FCFYN/A
OCF(TTM)0.66
OCFY21.04%
SpS1.44
BVpS2.26
TBVpS2.26
PEG (NY)0.11
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -13.08% | ||
| ROE | -21.12% | ||
| ROCE | 14.02% | ||
| ROIC | 11.08% | ||
| ROICexc | 12.07% | ||
| ROICexgc | 12.07% | ||
| OM | 31.21% | ||
| PM (TTM) | N/A | ||
| GM | 37.13% | ||
| 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-Score2
Asset Turnover0.4
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.14 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.44 | ||
| Cap/Depr | 249.97% | ||
| Cap/Sales | 48.28% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 91.32% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.55 | ||
| Quick Ratio | 0.73 | ||
| Altman-Z | 2.15 |
F-Score2
WACC8.85%
ROIC/WACC1.25
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)-48.28%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%-85.71%
EPS Next Y190.15%
EPS Next 2Y72.71%
EPS Next 3Y41.04%
EPS Next 5Y20.35%
Revenue 1Y (TTM)-1.67%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%-2.38%
Revenue Next Year42.48%
Revenue Next 2Y20.34%
Revenue Next 3Y12.93%
Revenue Next 5YN/A
EBIT growth 1Y-11.49%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year572.98%
EBIT Next 3Y87.73%
EBIT Next 5Y73.96%
FCF growth 1Y57.69%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y22.84%
OCF growth 3Y6.62%
OCF growth 5Y12.27%