B2GOLD CORP (BTO.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:BTO - CA11777Q2099 - Common Stock
6.33 CAD
+0.12 (+1.93%)
Taking everything into account, BTO scores 6 out of 10 in our fundamental rating. BTO was compared to 803 industry peers in the Metals & Mining industry. While BTO has a great profitability rating, there are quite some concerns on its financial health. BTO has both an excellent growth and valuation score. This means it is growing and it is still cheap. This is a rare combination!
1. Profitability
1.1 Basic Checks
BTO had positive earnings in the past year.
BTO had a positive operating cash flow in the past year.
BTO had positive earnings in 4 of the past 5 years.
In the past 5 years BTO always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.85%, BTO belongs to the top of the industry, outperforming 87.67% of the companies in the same industry.
With an excellent Return On Equity value of 6.60%, BTO belongs to the best of the industry, outperforming 88.29% of the companies in the same industry.
BTO has a better Return On Invested Capital (15.82%) than 97.14% of its industry peers.
BTO had an Average Return On Invested Capital over the past 3 years of 10.53%. This is below the industry average of 12.71%.
The 3 year average ROIC (10.53%) for BTO is below the current ROIC(15.82%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.85% | ||
| ROE | 6.6% | ||
| ROIC | 15.82% |
ROA(3y)-2%
ROA(5y)4.89%
ROE(3y)-4.15%
ROE(5y)5.33%
ROIC(3y)10.53%
ROIC(5y)13.43%
1.3 Margins
With an excellent Profit Margin value of 8.75%, BTO belongs to the best of the industry, outperforming 91.41% of the companies in the same industry.
Looking at the Operating Margin, with a value of 40.82%, BTO belongs to the top of the industry, outperforming 97.01% of the companies in the same industry.
BTO's Operating Margin has been stable in the last couple of years.
BTO has a Gross Margin of 46.01%. This is amongst the best in the industry. BTO outperforms 94.02% of its industry peers.
BTO's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector 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%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BTO is creating some value.
BTO has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BTO has more shares outstanding
Compared to 1 year ago, BTO has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.47 indicates that BTO is not a great score, but indicates only limited risk for bankruptcy at the moment.
BTO has a Altman-Z score (2.47) which is in line with its industry peers.
BTO has a Debt/Equity ratio of 0.18. This is a healthy value indicating a solid balance between debt and equity.
BTO's Debt to Equity ratio of 0.18 is on the low side compared to the rest of the industry. BTO is outperformed by 67.50% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.18 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.47 |
ROIC/WACC1.7
WACC9.3%
2.3 Liquidity
A Current Ratio of 1.03 indicates that BTO should not have too much problems paying its short term obligations.
BTO has a worse Current ratio (1.03) than 60.90% of its industry peers.
A Quick Ratio of 0.46 indicates that BTO may have some problems paying its short term obligations.
BTO has a worse Quick ratio (0.46) than 71.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.46 |
3. Growth
3.1 Past
BTO shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 71.43%, which is quite impressive.
Measured over the past years, BTO shows a decrease in Earnings Per Share. The EPS has been decreasing by -9.71% on average per year.
Looking at the last year, BTO shows a very strong growth in Revenue. The Revenue has grown by 30.97%.
The Revenue has been growing by 10.48% on average over the past years. This is quite good.
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
BTO is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 47.30% yearly.
BTO is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 17.03% yearly.
EPS Next Y256.87%
EPS Next 2Y126.51%
EPS Next 3Y92.54%
EPS Next 5Y47.3%
Revenue Next Year65.82%
Revenue Next 2Y42.68%
Revenue Next 3Y33.06%
Revenue Next 5Y17.03%
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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 12.66, BTO is valued correctly.
Based on the Price/Earnings ratio, BTO is valued cheaply inside the industry as 94.89% of the companies are valued more expensively.
BTO's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.28.
A Price/Forward Earnings ratio of 5.96 indicates a rather cheap valuation of BTO.
96.64% of the companies in the same industry are more expensive than BTO, based on the Price/Forward Earnings ratio.
BTO is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.52, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.66 | ||
| Fwd PE | 5.96 |
4.2 Price Multiples
BTO's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BTO is cheaper than 98.01% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.43 |
4.3 Compensation for Growth
BTO's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The excellent profitability rating of BTO may justify a higher PE ratio.
BTO's earnings are expected to grow with 92.54% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.05
PEG (5Y)N/A
EPS Next 2Y126.51%
EPS Next 3Y92.54%
5. Dividend
5.1 Amount
BTO has a Yearly Dividend Yield of 3.42%. Purely for dividend investing, there may be better candidates out there.
BTO's Dividend Yield is rather good when compared to the industry average which is at 10.79. BTO pays more dividend than 98.75% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.31, BTO pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.42% |
5.2 History
The dividend of BTO is nicely growing with an annual growth rate of 69.07%!
BTO has been paying a dividend for over 5 years, so it has already some track record.
BTO 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
56.73% of the earnings are spent on dividend by BTO. This is a bit on the high side, but may be sustainable.
The dividend of BTO is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP56.73%
EPS Next 2Y126.51%
EPS Next 3Y92.54%
TSX:BTO (12/9/2025, 7:00:00 PM)
6.33
+0.12 (+1.93%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners63.8%
Inst Owner ChangeN/A
Ins Owners0.58%
Ins Owner ChangeN/A
Market Cap8.46B
Revenue(TTM)2.51B
Net Income(TTM)219.32M
Analysts71.25
Price Target8.25 (30.33%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.42% |
Yearly Dividend0.2
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)-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)1.38%
PT rev (3m)22.06%
EPS NQ rev (1m)7.52%
EPS NQ rev (3m)15.46%
EPS NY rev (1m)-6.87%
EPS NY rev (3m)-4.79%
Revenue NQ rev (1m)14.08%
Revenue NQ rev (3m)15.02%
Revenue NY rev (1m)-1.24%
Revenue NY rev (3m)0.69%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.66 | ||
| Fwd PE | 5.96 | ||
| P/S | 2.44 | ||
| P/FCF | N/A | ||
| P/OCF | 8.44 | ||
| P/B | 1.84 | ||
| P/tB | 1.84 | ||
| EV/EBITDA | 4.43 |
EPS(TTM)0.5
EY7.9%
EPS(NY)1.06
Fwd EY16.78%
FCF(TTM)-0.21
FCFYN/A
OCF(TTM)0.75
OCFY11.85%
SpS2.59
BVpS3.44
TBVpS3.44
PEG (NY)0.05
PEG (5Y)N/A
Graham Number6.22
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.85% | ||
| ROE | 6.6% | ||
| ROCE | 21.98% | ||
| ROIC | 15.82% | ||
| ROICexc | 17.21% | ||
| ROICexgc | 17.21% | ||
| 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)10.53%
ROIC(5y)13.43%
ROICexc(3y)11.93%
ROICexc(5y)15.79%
ROICexgc(3y)11.93%
ROICexgc(5y)15.79%
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 | 51.39% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.46 | ||
| Altman-Z | 2.47 |
F-Score6
WACC9.3%
ROIC/WACC1.7
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 Y256.87%
EPS Next 2Y126.51%
EPS Next 3Y92.54%
EPS Next 5Y47.3%
Revenue 1Y (TTM)30.97%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%74.68%
Revenue Next Year65.82%
Revenue Next 2Y42.68%
Revenue Next 3Y33.06%
Revenue Next 5Y17.03%
EBIT growth 1Y64.97%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year718.35%
EBIT Next 3Y133.61%
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 / BTO.CA FAQ
What is the ChartMill fundamental rating of B2GOLD CORP (BTO.CA) stock?
ChartMill assigns a fundamental rating of 6 / 10 to BTO.CA.
What is the valuation status for BTO stock?
ChartMill assigns a valuation rating of 8 / 10 to B2GOLD CORP (BTO.CA). This can be considered as Undervalued.
Can you provide the profitability details for B2GOLD CORP?
B2GOLD CORP (BTO.CA) has a profitability rating of 8 / 10.
What is the valuation of B2GOLD CORP based on its PE and PB ratios?
The Price/Earnings (PE) ratio for B2GOLD CORP (BTO.CA) is 12.66 and the Price/Book (PB) ratio is 1.84.
What is the expected EPS growth for B2GOLD CORP (BTO.CA) stock?
The Earnings per Share (EPS) of B2GOLD CORP (BTO.CA) is expected to grow by 256.87% in the next year.