B2GOLD CORP (BTG) Stock Fundamental Analysis
NYSEARCA:BTG - NYSE Arca - CA11777Q2099 - Common Stock - Currency: USD
Overall BTG gets a fundamental rating of 5 out of 10. We evaluated BTG against 155 industry peers in the Metals & Mining industry. There are concerns on the financial health of BTG while its profitability can be described as average. A decent growth rate in combination with a cheap valuation! Better keep an eye on BTG.
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
With a Return On Assets value of -12.00%, BTG is not doing good in the industry: 72.26% of the companies in the same industry are doing better.
With a Return On Equity value of -19.58%, BTG is not doing good in the industry: 69.68% of the companies in the same industry are doing better.
BTG's Return On Invested Capital of 11.83% is amongst the best of the industry. BTG outperforms 90.32% 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 11.61%.
The 3 year average ROIC (11.55%) for BTG is below the current ROIC(11.83%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -12% | ||
| ROE | -19.58% | ||
| ROIC | 11.83% |
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 (32.68%) is better than 87.74% of its industry peers.
BTG's Operating Margin has been stable in the last couple of years.
BTG has a Gross Margin of 38.51%. This is amongst the best in the industry. BTG outperforms 80.65% of its industry peers.
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 | 32.68% | ||
| PM (TTM) | N/A | ||
| GM | 38.51% |
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
BTG has more shares outstanding than it did 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 2.12. 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 2.12 is in line compared to the rest of the industry. BTG outperforms 45.81% of its industry peers.
BTG has a Debt/Equity ratio of 0.13. This is a healthy value indicating a solid balance between debt and equity.
BTG has a Debt to Equity ratio (0.13) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.13 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.12 |
ROIC/WACC1.37
WACC8.65%
2.3 Liquidity
A Current Ratio of 1.22 indicates that BTG should not have too much problems paying its short term obligations.
BTG has a worse Current ratio (1.22) than 80.00% of its industry peers.
BTG has a Quick Ratio of 1.22. 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 0.54, BTG is not doing good in the industry: 89.03% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.22 | ||
| Quick Ratio | 0.54 |
3. Growth
3.1 Past
BTG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -28.00%.
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.
Looking at the last year, BTG shows a small growth in Revenue. The Revenue has grown by 2.63% in the last year.
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)-28%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%50%
Revenue 1Y (TTM)2.63%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%15.31%
3.2 Future
The Earnings Per Share is expected to grow by 25.91% on average over the next years. This is a very strong growth
BTG is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 16.03% yearly.
EPS Next Y190.15%
EPS Next 2Y72.71%
EPS Next 3Y41.04%
EPS Next 5Y25.91%
Revenue Next Year53.32%
Revenue Next 2Y23.26%
Revenue Next 3Y16.03%
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.
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 19.56, BTG is valued on the expensive side.
BTG's Price/Earnings ratio is a bit cheaper when compared to the industry. BTG is cheaper than 76.13% of the companies in the same industry.
When comparing the Price/Earnings ratio of BTG to the average of the S&P500 Index (27.30), we can say BTG is valued slightly cheaper.
BTG is valuated cheaply with a Price/Forward Earnings ratio of 7.87.
BTG's Price/Forward Earnings ratio is rather cheap when compared to the industry. BTG is cheaper than 83.87% of the companies in the same industry.
BTG is valuated cheaply when we compare the Price/Forward Earnings ratio to 21.76, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.56 | ||
| Fwd PE | 7.87 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTG is valued cheaply inside the industry as 93.55% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.65 |
4.3 Compensation for Growth
The 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.
A more expensive valuation may be justified as BTG's earnings are expected to grow with 41.04% in the coming years.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y72.71%
EPS Next 3Y41.04%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.38%, BTG is a good candidate for dividend investing.
BTG's Dividend Yield is rather good when compared to the industry average which is at 2.90. BTG pays more dividend than 92.26% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.37, BTG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.38% |
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
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-26.83%
EPS Next 2Y72.71%
EPS Next 3Y41.04%
3.52
-0.16 (-4.35%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners60.74%
Inst Owner Change0%
Ins Owners0.64%
Ins Owner ChangeN/A
Market Cap4.65B
Analysts72
Price Target4.58 (30.11%)
Short Float %5.54%
Short Ratio1.3
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.38% |
Yearly Dividend0.14
Dividend Growth(5Y)69.07%
DP-26.83%
Div Incr Years0
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-42.33%
Min EPS beat(2)-86.5%
Max EPS beat(2)1.84%
EPS beat(4)1
Avg EPS beat(4)-40.85%
Min EPS beat(4)-86.5%
Max EPS beat(4)1.84%
EPS beat(8)3
Avg EPS beat(8)-23.25%
EPS beat(12)4
Avg EPS beat(12)-19.52%
EPS beat(16)5
Avg EPS beat(16)-15.6%
Revenue beat(2)0
Avg Revenue beat(2)-5.09%
Min Revenue beat(2)-9.16%
Max Revenue beat(2)-1.03%
Revenue beat(4)1
Avg Revenue beat(4)-1.74%
Min Revenue beat(4)-9.16%
Max Revenue beat(4)3.47%
Revenue beat(8)4
Avg Revenue beat(8)-0.07%
Revenue beat(12)5
Avg Revenue beat(12)-0.42%
Revenue beat(16)8
Avg Revenue beat(16)5.81%
PT rev (1m)4.63%
PT rev (3m)19.59%
EPS NQ rev (1m)5.59%
EPS NQ rev (3m)51.79%
EPS NY rev (1m)0%
EPS NY rev (3m)6.52%
Revenue NQ rev (1m)1.23%
Revenue NQ rev (3m)19.06%
Revenue NY rev (1m)0%
Revenue NY rev (3m)7.61%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.56 | ||
| Fwd PE | 7.87 | ||
| P/S | 2.36 | ||
| P/FCF | N/A | ||
| P/OCF | 13.44 | ||
| P/B | 1.49 | ||
| P/tB | 1.49 | ||
| EV/EBITDA | 4.65 |
EPS(TTM)0.18
EY5.11%
EPS(NY)0.45
Fwd EY12.71%
FCF(TTM)-0.4
FCFYN/A
OCF(TTM)0.26
OCFY7.44%
SpS1.49
BVpS2.37
TBVpS2.37
PEG (NY)0.1
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -12% | ||
| ROE | -19.58% | ||
| ROCE | 14.97% | ||
| ROIC | 11.83% | ||
| ROICexc | 12.87% | ||
| ROICexgc | 12.87% | ||
| OM | 32.68% | ||
| PM (TTM) | N/A | ||
| GM | 38.51% | ||
| 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-Score3
Asset Turnover0.39
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.13 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.39 | ||
| Cap/Depr | 236.58% | ||
| Cap/Sales | 43.95% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 34.18% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.22 | ||
| Quick Ratio | 0.54 | ||
| Altman-Z | 2.12 |
F-Score3
WACC8.65%
ROIC/WACC1.37
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)-28%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%50%
EPS Next Y190.15%
EPS Next 2Y72.71%
EPS Next 3Y41.04%
EPS Next 5Y25.91%
Revenue 1Y (TTM)2.63%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%15.31%
Revenue Next Year53.32%
Revenue Next 2Y23.26%
Revenue Next 3Y16.03%
Revenue Next 5YN/A
EBIT growth 1Y1.11%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year634.57%
EBIT Next 3Y96.49%
EBIT Next 5Y52.53%
FCF growth 1Y-301.68%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-50.07%
OCF growth 3Y6.62%
OCF growth 5Y12.27%