B2GOLD CORP (BTO.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:BTO - CA11777Q2099 - Common Stock
6.3 CAD
+0.21 (+3.45%)
BTO gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 796 industry peers in the Metals & Mining industry. BTO has an excellent profitability rating, but there are concerns on its financial health. BTO is growing strongly while it also seems undervalued. This is an interesting combination BTO also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
In the past year BTO was profitable.
In the past year BTO had a positive cash flow from operations.
Of the past 5 years BTO 4 years were profitable.
Each year in the past 5 years BTO had a positive operating cash flow.
1.2 Ratios
With an excellent Return On Assets value of 3.85%, BTO belongs to the best of the industry, outperforming 87.94% of the companies in the same industry.
The Return On Equity of BTO (6.60%) is better than 88.69% of its industry peers.
Looking at the Return On Invested Capital, with a value of 15.76%, BTO belongs to the top of the industry, outperforming 96.98% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for BTO is below the industry average of 12.57%.
The 3 year average ROIC (10.53%) for BTO is below the current ROIC(15.76%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.85% | ||
| ROE | 6.6% | ||
| ROIC | 15.76% |
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
BTO's Profit Margin of 8.75% is amongst the best of the industry. BTO outperforms 91.21% of its industry peers.
Looking at the Operating Margin, with a value of 40.66%, BTO belongs to the top of the industry, outperforming 97.24% of the companies in the same industry.
In the last couple of years the Operating Margin of BTO has remained more or less at the same level.
BTO has a Gross Margin of 46.01%. This is amongst the best in the industry. BTO outperforms 94.10% of its industry peers.
In the last couple of years the Gross Margin of BTO has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 40.66% | ||
| 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) well above the Cost of Capital (WACC), BTO is creating value.
BTO has more shares outstanding than it did 1 year ago.
BTO has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, BTO has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 2.45 indicates that BTO is not a great score, but indicates only limited risk for bankruptcy at the moment.
The Altman-Z score of BTO (2.45) is comparable to the rest of the industry.
BTO has a Debt/Equity ratio of 0.18. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of BTO (0.18) is worse than 67.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.18 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.45 |
ROIC/WACC1.86
WACC8.47%
2.3 Liquidity
A Current Ratio of 1.03 indicates that BTO should not have too much problems paying its short term obligations.
BTO's Current ratio of 1.03 is on the low side compared to the rest of the industry. BTO is outperformed by 61.31% of its industry peers.
A Quick Ratio of 0.46 indicates that BTO may have some problems paying its short term obligations.
BTO's Quick ratio of 0.46 is on the low side compared to the rest of the industry. BTO is outperformed by 71.36% 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.
The Earnings Per Share has been decreasing by -9.71% on average over the past years.
BTO shows a strong growth in Revenue. In the last year, the Revenue has grown by 30.97%.
BTO shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.48% yearly.
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
The Earnings Per Share is expected to grow by 43.86% on average over the next years. This is a very strong growth
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 Y283.19%
EPS Next 2Y110.23%
EPS Next 3Y75.94%
EPS Next 5Y43.86%
Revenue Next Year67.89%
Revenue Next 2Y39.8%
Revenue Next 3Y25.35%
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
The Price/Earnings ratio is 12.35, which indicates a correct valuation of BTO.
Based on the Price/Earnings ratio, BTO is valued cheaply inside the industry as 95.10% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of BTO to the average of the S&P500 Index (26.15), we can say BTO is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 6.75, the valuation of BTO can be described as very cheap.
Based on the Price/Forward Earnings ratio, BTO is valued cheaply inside the industry as 95.60% of the companies are valued more expensively.
BTO's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.12.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.35 | ||
| Fwd PE | 6.75 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTO is valued cheaper than 97.61% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.37 |
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.
A more expensive valuation may be justified as BTO's earnings are expected to grow with 75.94% in the coming years.
PEG (NY)0.04
PEG (5Y)N/A
EPS Next 2Y110.23%
EPS Next 3Y75.94%
5. Dividend
5.1 Amount
BTO has a Yearly Dividend Yield of 4.06%, which is a nice return.
BTO's Dividend Yield is rather good when compared to the industry average which is at 12.10. BTO pays more dividend than 98.87% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.41, BTO pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.06% |
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.
As BTO 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
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 2Y110.23%
EPS Next 3Y75.94%
TSX:BTO (11/27/2025, 7:00:00 PM)
6.3
+0.21 (+3.45%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners63.91%
Inst Owner ChangeN/A
Ins Owners0.61%
Ins Owner ChangeN/A
Market Cap8.33B
Revenue(TTM)2.51B
Net Income(TTM)219.32M
Analysts72.5
Price Target8.33 (32.22%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.06% |
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)20.93%
PT rev (3m)24.33%
EPS NQ rev (1m)1.61%
EPS NQ rev (3m)31.25%
EPS NY rev (1m)0.02%
EPS NY rev (3m)2.23%
Revenue NQ rev (1m)9.43%
Revenue NQ rev (3m)29.33%
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)1.95%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.35 | ||
| Fwd PE | 6.75 | ||
| P/S | 2.36 | ||
| P/FCF | N/A | ||
| P/OCF | 8.15 | ||
| P/B | 1.78 | ||
| P/tB | 1.78 | ||
| EV/EBITDA | 4.37 |
EPS(TTM)0.51
EY8.1%
EPS(NY)0.93
Fwd EY14.82%
FCF(TTM)-0.22
FCFYN/A
OCF(TTM)0.77
OCFY12.28%
SpS2.67
BVpS3.54
TBVpS3.54
PEG (NY)0.04
PEG (5Y)N/A
Graham Number6.37
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.85% | ||
| ROE | 6.6% | ||
| ROCE | 21.89% | ||
| ROIC | 15.76% | ||
| ROICexc | 17.14% | ||
| ROICexgc | 17.14% | ||
| OM | 40.66% | ||
| 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 | 51.54% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.46 | ||
| Altman-Z | 2.45 |
F-Score6
WACC8.47%
ROIC/WACC1.86
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 Y283.19%
EPS Next 2Y110.23%
EPS Next 3Y75.94%
EPS Next 5Y43.86%
Revenue 1Y (TTM)30.97%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%74.68%
Revenue Next Year67.89%
Revenue Next 2Y39.8%
Revenue Next 3Y25.35%
Revenue Next 5Y17.03%
EBIT growth 1Y64.31%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year759.11%
EBIT Next 3Y109.45%
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 12.35 and the Price/Book (PB) ratio is 1.78.
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 283.19% in the next year.