B2GOLD CORP (BTO.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:BTO - CA11777Q2099 - Common Stock
6.51 CAD
+0.15 (+2.36%)
BTO gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 813 industry peers in the Metals & Mining industry. BTO has an excellent profitability rating, but there are 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
In the past year BTO was profitable.
In the past year BTO had a positive cash flow from operations.
BTO had positive earnings in 4 of the past 5 years.
BTO had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
BTO has a Return On Assets of 3.85%. This is amongst the best in the industry. BTO outperforms 88.81% of its industry peers.
Looking at the Return On Equity, with a value of 6.60%, BTO belongs to the top of the industry, outperforming 89.18% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 15.82%, BTO belongs to the top of the industry, outperforming 97.05% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for BTO is in line with the industry average of 11.94%.
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
The Profit Margin of BTO (8.75%) is better than 91.64% of its industry peers.
BTO's Operating Margin of 40.82% is amongst the best of the industry. BTO outperforms 96.92% of its industry peers.
BTO's Operating Margin has been stable in the last couple of years.
With an excellent Gross Margin value of 46.01%, BTO belongs to the best of the industry, outperforming 94.34% of the companies in the same industry.
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 | 40.82% | ||
| 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
BTO has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it 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
The debt/assets ratio for BTO is higher compared to a year ago.
2.2 Solvency
BTO has an Altman-Z score of 2.54. This is not the best score and indicates that BTO is in the grey zone with still only limited risk for bankruptcy at the moment.
BTO has a Altman-Z score of 2.54. This is comparable to the rest of the industry: BTO outperforms 47.48% of its industry peers.
A Debt/Equity ratio of 0.18 indicates that BTO is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.18, BTO is not doing good in the industry: 65.81% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.18 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.54 |
ROIC/WACC1.73
WACC9.14%
2.3 Liquidity
A Current Ratio of 1.03 indicates that BTO should not have too much problems paying its short term obligations.
The Current ratio of BTO (1.03) is comparable to the rest of the industry.
BTO has a Quick Ratio of 1.03. This is a bad value and indicates that BTO is not financially healthy enough and could expect problems in meeting its short term obligations.
BTO has a Quick ratio of 0.46. This is in the lower half of the industry: BTO underperforms 69.37% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.03 | ||
| Quick Ratio | 0.46 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 71.43% over the past year.
BTO shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -9.71% yearly.
BTO shows a strong growth in Revenue. In the last year, the Revenue has grown by 30.97%.
Measured over the past years, BTO shows a quite strong growth in Revenue. The Revenue has been growing by 10.48% on average per year.
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
Based on estimates for the next years, BTO will show a very strong growth in Earnings Per Share. The EPS will grow by 47.30% on average per year.
The Revenue is expected to grow by 17.03% on average over the next years. This is quite good.
EPS Next Y256.87%
EPS Next 2Y126.51%
EPS Next 3Y95.52%
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.
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
BTO is valuated correctly with a Price/Earnings ratio of 13.02.
Based on the Price/Earnings ratio, BTO is valued cheaper than 95.45% of the companies in the same industry.
When comparing the Price/Earnings ratio of BTO to the average of the S&P500 Index (27.25), we can say BTO is valued rather cheaply.
A Price/Forward Earnings ratio of 6.10 indicates a rather cheap valuation of BTO.
Based on the Price/Forward Earnings ratio, BTO is valued cheaper than 96.80% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of BTO to the average of the S&P500 Index (23.98), we can say BTO is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.02 | ||
| Fwd PE | 6.1 |
4.2 Price Multiples
98.28% of the companies in the same industry are more expensive than BTO, based on the Enterprise Value to EBITDA ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.62 |
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 95.52% 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 3Y95.52%
5. Dividend
5.1 Amount
BTO has a Yearly Dividend Yield of 3.47%.
Compared to an average industry Dividend Yield of 0.63, BTO pays a better dividend. On top of this BTO pays more dividend than 99.14% of the companies listed in the same industry.
BTO's Dividend Yield is rather good when compared to the S&P500 average which is at 1.92.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.47% |
5.2 History
On average, the dividend of BTO grows each year by 69.07%, which is quite nice.
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 3Y95.52%
TSX:BTO (1/12/2026, 7:00:00 PM)
6.51
+0.15 (+2.36%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners63.39%
Inst Owner ChangeN/A
Ins Owners0.58%
Ins Owner ChangeN/A
Market Cap8.70B
Revenue(TTM)2.51B
Net Income(TTM)219.32M
Analysts71.25
Price Target8.32 (27.8%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.47% |
Yearly Dividend0.2
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)0.77%
PT rev (3m)20.7%
EPS NQ rev (1m)0%
EPS NQ rev (3m)9.8%
EPS NY rev (1m)0%
EPS NY rev (3m)-6.85%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)15.02%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.75%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.02 | ||
| Fwd PE | 6.1 | ||
| P/S | 2.5 | ||
| P/FCF | N/A | ||
| P/OCF | 8.63 | ||
| P/B | 1.89 | ||
| P/tB | 1.89 | ||
| EV/EBITDA | 4.62 |
EPS(TTM)0.5
EY7.68%
EPS(NY)1.07
Fwd EY16.4%
FCF(TTM)-0.21
FCFYN/A
OCF(TTM)0.75
OCFY11.58%
SpS2.6
BVpS3.45
TBVpS3.45
PEG (NY)0.05
PEG (5Y)N/A
Graham Number6.23
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 | 2.54 |
F-Score6
WACC9.14%
ROIC/WACC1.73
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 3Y95.52%
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 of B2GOLD CORP (BTO.CA) 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 13.02 and the Price/Book (PB) ratio is 1.89.
Is the dividend of B2GOLD CORP sustainable?
The dividend rating of B2GOLD CORP (BTO.CA) is 6 / 10 and the dividend payout ratio is 56.73%.