B2GOLD CORP (BTG) Stock Fundamental Analysis

NYSEARCA:BTG • CA11777Q2099

5.12 USD
-0.26 (-4.83%)
At close: Feb 19, 2026
5.14 USD
+0.02 (+0.39%)
After Hours: 2/19/2026, 5:44:03 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

BTG gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 157 industry peers in the Metals & Mining industry. BTG has an excellent profitability rating, but there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on BTG.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year BTG was profitable.
  • BTG had a positive operating cash flow in the past year.
  • In multiple years BTG reported negative net income over the last 5 years.
  • Of the past 5 years BTG 4 years had a positive operating cash flow.
BTG Yearly Net Income VS EBIT VS OCF VS FCFBTG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M

1.2 Ratios

  • The Return On Assets of BTG (3.85%) is better than 71.97% of its industry peers.
  • The Return On Equity of BTG (6.60%) is better than 67.52% of its industry peers.
  • BTG's Return On Invested Capital of 17.36% is amongst the best of the industry. BTG outperforms 90.45% of its industry peers.
  • BTG had an Average Return On Invested Capital over the past 3 years of 11.55%. This is in line with the industry average of 10.58%.
  • The last Return On Invested Capital (17.36%) for BTG is above the 3 year average (11.55%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 3.85%
ROE 6.6%
ROIC 17.36%
ROA(3y)-2%
ROA(5y)4.89%
ROE(3y)-4.15%
ROE(5y)5.33%
ROIC(3y)11.55%
ROIC(5y)14.74%
BTG Yearly ROA, ROE, ROICBTG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 -20

1.3 Margins

  • The Profit Margin of BTG (8.75%) is better than 75.16% of its industry peers.
  • BTG has a better Operating Margin (40.82%) than 91.08% of its industry peers.
  • BTG's Operating Margin has been stable in the last couple of years.
  • The Gross Margin of BTG (46.01%) is better than 81.53% of its industry peers.
  • BTG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 40.82%
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%
BTG Yearly Profit, Operating, Gross MarginsBTG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • BTG has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • There is no outstanding debt for BTG. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
BTG Yearly Shares OutstandingBTG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B
BTG Yearly Total Debt VS Total AssetsBTG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

  • BTG has an Altman-Z score of 2.78. 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.
  • With a Altman-Z score value of 2.78, BTG is not doing good in the industry: 60.51% of the companies in the same industry are doing better.
  • BTG has a Debt/Equity ratio of 0.18. This is a healthy value indicating a solid balance between debt and equity.
  • With a Debt to Equity ratio value of 0.18, BTG perfoms like the industry average, outperforming 51.59% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF N/A
Altman-Z 2.78
ROIC/WACC1.68
WACC10.31%
BTG Yearly LT Debt VS Equity VS FCFBTG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

  • A Current Ratio of 1.03 indicates that BTG should not have too much problems paying its short term obligations.
  • With a Current ratio value of 1.03, BTG is not doing good in the industry: 82.80% of the companies in the same industry are doing better.
  • 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.
  • BTG has a Quick ratio of 0.46. This is amonst the worse of the industry: BTG underperforms 91.72% of its industry peers.
Industry RankSector Rank
Current Ratio 1.03
Quick Ratio 0.46
BTG Yearly Current Assets VS Current LiabilitesBTG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 206.67% over the past year.
  • Measured over the past years, BTG shows a decrease in Earnings Per Share. The EPS has been decreasing by -1.65% on average per year.
EPS 1Y (TTM)206.67%
EPS 3Y24.22%
EPS 5Y-1.65%
EPS Q2Q%1000%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%110.89%

3.2 Future

  • The Earnings Per Share is expected to grow by 29.05% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, BTG will show a quite strong growth in Revenue. The Revenue will grow by 10.91% on average per year.
EPS Next Y66.07%
EPS Next 2Y52.8%
EPS Next 3Y31.26%
EPS Next 5Y29.05%
Revenue Next Year23.2%
Revenue Next 2Y20.26%
Revenue Next 3Y11.8%
Revenue Next 5Y10.91%

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.
BTG Yearly Revenue VS EstimatesBTG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B 4B 5B
BTG Yearly EPS VS EstimatesBTG Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1 1.5

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Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 11.13, the valuation of BTG can be described as very reasonable.
  • Based on the Price/Earnings ratio, BTG is valued cheaply inside the industry as 97.45% of the companies are valued more expensively.
  • BTG's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.09.
  • A Price/Forward Earnings ratio of 6.70 indicates a rather cheap valuation of BTG.
  • Based on the Price/Forward Earnings ratio, BTG is valued cheaply inside the industry as 94.90% of the companies are valued more expensively.
  • BTG's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.98.
Industry RankSector Rank
PE 11.13
Fwd PE 6.7
BTG Price Earnings VS Forward Price EarningsBTG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150 200

4.2 Price Multiples

  • 96.18% of the companies in the same industry are more expensive than BTG, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 5.28
BTG Per share dataBTG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5 2

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.
  • BTG's earnings are expected to grow with 31.26% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.17
PEG (5Y)N/A
EPS Next 2Y52.8%
EPS Next 3Y31.26%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.96%, BTG has a reasonable but not impressive dividend return.
  • BTG's Dividend Yield is rather good when compared to the industry average which is at 1.03. BTG pays more dividend than 93.63% of the companies in the same industry.
  • BTG's Dividend Yield is rather good when compared to the S&P500 average which is at 1.85.
Industry RankSector Rank
Dividend Yield 2.96%

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.
  • 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
BTG Yearly Dividends per shareBTG Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.05 0.1 0.15

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.
  • The dividend of BTG is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP56.73%
EPS Next 2Y52.8%
EPS Next 3Y31.26%
BTG Yearly Income VS Free CF VS DividendBTG Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M -600M
BTG Dividend Payout.BTG Dividend Payout, showing the Payout Ratio.BTG Dividend Payout.PayoutRetained Earnings

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Find the best dividend stocksShow peers with best dividend

B2GOLD CORP

NYSEARCA:BTG (2/19/2026, 5:44:03 PM)

After market: 5.14 +0.02 (+0.39%)

5.12

-0.26 (-4.83%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-18
Earnings (Next)05-05
Inst Owners63.39%
Inst Owner Change-2.32%
Ins Owners0.58%
Ins Owner ChangeN/A
Market Cap6.86B
Revenue(TTM)N/A
Net Income(TTM)219.32M
Analysts71.25
Price Target6.22 (21.48%)
Short Float %5.14%
Short Ratio1.64
Dividend
Industry RankSector Rank
Dividend Yield 2.96%
Yearly Dividend0.14
Dividend Growth(5Y)69.07%
DP56.73%
Div Incr Years0
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-6.26%
Min EPS beat(2)-11.53%
Max EPS beat(2)-0.99%
EPS beat(4)1
Avg EPS beat(4)-24.29%
Min EPS beat(4)-86.5%
Max EPS beat(4)1.84%
EPS beat(8)2
Avg EPS beat(8)-22.01%
EPS beat(12)4
Avg EPS beat(12)-14.1%
EPS beat(16)5
Avg EPS beat(16)-14.09%
Revenue beat(2)0
Avg Revenue beat(2)-4.79%
Min Revenue beat(2)-6.76%
Max Revenue beat(2)-2.83%
Revenue beat(4)0
Avg Revenue beat(4)-4.94%
Min Revenue beat(4)-9.16%
Max Revenue beat(4)-1.03%
Revenue beat(8)3
Avg Revenue beat(8)-1.22%
Revenue beat(12)5
Avg Revenue beat(12)-0.51%
Revenue beat(16)7
Avg Revenue beat(16)-0.79%
PT rev (1m)3.98%
PT rev (3m)7.12%
EPS NQ rev (1m)-6.25%
EPS NQ rev (3m)0.8%
EPS NY rev (1m)-1.89%
EPS NY rev (3m)-8.63%
Revenue NQ rev (1m)-5.81%
Revenue NQ rev (3m)7.45%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.24%
Valuation
Industry RankSector Rank
PE 11.13
Fwd PE 6.7
P/S 2.74
P/FCF N/A
P/OCF 9.45
P/B 2.06
P/tB 2.06
EV/EBITDA 5.28
EPS(TTM)0.46
EY8.98%
EPS(NY)0.76
Fwd EY14.92%
FCF(TTM)-0.15
FCFYN/A
OCF(TTM)0.54
OCFY10.58%
SpS1.87
BVpS2.48
TBVpS2.48
PEG (NY)0.17
PEG (5Y)N/A
Graham Number5.07
Profitability
Industry RankSector Rank
ROA 3.85%
ROE 6.6%
ROCE 21.98%
ROIC 17.36%
ROICexc 18.89%
ROICexgc 18.89%
OM 40.82%
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 RankSector 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 51.39%
Profit Quality N/A
Current Ratio 1.03
Quick Ratio 0.46
Altman-Z 2.78
F-Score6
WACC10.31%
ROIC/WACC1.68
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)206.67%
EPS 3Y24.22%
EPS 5Y-1.65%
EPS Q2Q%1000%
EPS Next Y66.07%
EPS Next 2Y52.8%
EPS Next 3Y31.26%
EPS Next 5Y29.05%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%110.89%
Revenue Next Year23.2%
Revenue Next 2Y20.26%
Revenue Next 3Y11.8%
Revenue Next 5Y10.91%
EBIT growth 1Y64.97%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year718.35%
EBIT Next 3Y133.61%
EBIT Next 5Y63.42%
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 5 / 10 to BTG.


What is the valuation status for BTG stock?

ChartMill assigns a valuation rating of 8 / 10 to B2GOLD CORP (BTG). This can be considered as Undervalued.


How profitable is B2GOLD CORP (BTG) stock?

B2GOLD CORP (BTG) has a profitability rating of 7 / 10.


What is the financial health of B2GOLD CORP (BTG) stock?

The financial health rating of B2GOLD CORP (BTG) is 2 / 10.


How sustainable is the dividend of B2GOLD CORP (BTG) stock?

The dividend rating of B2GOLD CORP (BTG) is 6 / 10 and the dividend payout ratio is 56.73%.