B2GOLD CORP (BTO.CA) Stock Fundamental Analysis
TSX:BTO - Toronto Stock Exchange - CA11777Q2099 - Common Stock - Currency: CAD
Taking everything into account, BTO scores 5 out of 10 in our fundamental rating. BTO was compared to 820 industry peers in the Metals & Mining industry. BTO has only an average score on both its financial health and profitability. BTO is cheap, but on the other hand it scores bad on growth. These ratings would make BTO suitable for value investing!
1. Profitability
1.1 Basic Checks
In the past year BTO was profitable.
BTO had a positive operating cash flow in the past year.
Of the past 5 years BTO 4 years were profitable.
BTO had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
BTO has a Return On Assets (-15.27%) which is in line with its industry peers.
BTO has a Return On Equity (-24.08%) which is in line with its industry peers.
The Return On Invested Capital of BTO (10.13%) is better than 95.81% of its industry peers.
BTO had an Average Return On Invested Capital over the past 3 years of 12.11%. This is in line with the industry average of 11.94%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -15.27% | ||
| ROE | -24.08% | ||
| ROIC | 10.13% |
ROA(3y)6.29%
ROA(5y)9.7%
ROE(3y)7.79%
ROE(5y)12.5%
ROIC(3y)12.11%
ROIC(5y)13.54%
1.3 Margins
In the last couple of years the Profit Margin of BTO has declined.
Looking at the Operating Margin, with a value of 31.50%, BTO belongs to the top of the industry, outperforming 96.22% of the companies in the same industry.
In the last couple of years the Operating Margin of BTO has grown nicely.
BTO has a better Gross Margin (38.54%) than 94.05% of its industry peers.
In the last couple of years the Gross Margin of BTO has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 31.5% | ||
| PM (TTM) | N/A | ||
| GM | 38.54% |
OM growth 3Y-10.9%
OM growth 5Y3.86%
PM growth 3Y-75.41%
PM growth 5Y-28.27%
GM growth 3Y-9.03%
GM growth 5Y2.18%
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.
There is no outstanding debt for BTO. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
2.2 Solvency
An Altman-Z score of 2.06 indicates that BTO is not a great score, but indicates only limited risk for bankruptcy at the moment.
BTO has a Altman-Z score of 2.06. This is comparable to the rest of the industry: BTO outperforms 54.05% of its industry peers.
BTO has a debt to FCF ratio of 18.49. This is a negative value and a sign of low solvency as BTO would need 18.49 years to pay back of all of its debts.
BTO's Debt to FCF ratio of 18.49 is amongst the best of the industry. BTO outperforms 89.19% of its industry peers.
BTO has a Debt/Equity ratio of 0.07. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.07, BTO is doing worse than 66.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.07 | ||
| Debt/FCF | 18.49 | ||
| Altman-Z | 2.06 |
ROIC/WACC1.09
WACC9.33%
2.3 Liquidity
A Current Ratio of 1.83 indicates that BTO should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.83, BTO is in line with its industry, outperforming 49.32% of the companies in the same industry.
A Quick Ratio of 1.08 indicates that BTO should not have too much problems paying its short term obligations.
Looking at the Quick ratio, with a value of 1.08, BTO is in line with its industry, outperforming 40.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.83 | ||
| Quick Ratio | 1.08 |
3. Growth
3.1 Past
The earnings per share for BTO have decreased strongly by -48.28% in the last year.
The Earnings Per Share has been decreasing by -9.71% on average over the past years.
EPS 1Y (TTM)-48.28%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%-85.71%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-2.38%
3.2 Future
The Earnings Per Share is expected to grow by 30.44% 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 9.54% yearly.
EPS Next Y176.19%
EPS Next 2Y79.57%
EPS Next 3Y22.54%
EPS Next 5Y30.44%
Revenue Next Year43.26%
Revenue Next 2Y20.77%
Revenue Next 3Y9.54%
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.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 19.05, which indicates a rather expensive current valuation of BTO.
90.54% of the companies in the same industry are more expensive than BTO, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of BTO to the average of the S&P500 Index (29.63), we can say BTO is valued slightly cheaper.
BTO is valuated cheaply with a Price/Forward Earnings ratio of 6.80.
95.14% of the companies in the same industry are more expensive than BTO, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.68. BTO is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.05 | ||
| Fwd PE | 6.8 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of BTO indicates a rather cheap valuation: BTO is cheaper than 96.08% of the companies listed in the same industry.
BTO's Price/Free Cash Flow ratio is rather cheap when compared to the industry. BTO is cheaper than 89.32% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 182.02 | ||
| EV/EBITDA | 3.71 |
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.
BTO has a very decent profitability rating, which may justify a higher PE ratio.
BTO's earnings are expected to grow with 22.54% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.11
PEG (5Y)N/A
EPS Next 2Y79.57%
EPS Next 3Y22.54%
5. Dividend
5.1 Amount
BTO has a Yearly Dividend Yield of 5.49%, which is a nice return.
Compared to an average industry Dividend Yield of 7.55, BTO pays a better dividend. On top of this BTO pays more dividend than 98.92% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.27, BTO pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.49% |
5.2 History
The dividend of BTO is nicely growing with an annual growth rate of 151.98%!
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)151.98%
Div Incr Years0
Div Non Decr Years5
5.3 Sustainability
The earnings of BTO are negative and hence is the payout ratio. BTO will probably not be able to sustain this dividend level.
The dividend of BTO is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP-25.25%
EPS Next 2Y79.57%
EPS Next 3Y22.54%
TSX:BTO (2/21/2025, 7:00:00 PM)
4
+0.04 (+1.01%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners58.28%
Inst Owner ChangeN/A
Ins Owners0.57%
Ins Owner ChangeN/A
Market Cap5.27B
Analysts71.43
Price Target5.33 (33.25%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.49% |
Yearly Dividend0.16
Dividend Growth(5Y)151.98%
DP-25.25%
Div Incr Years0
Div Non Decr Years5
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-39.37%
Min EPS beat(2)-61.26%
Max EPS beat(2)-17.49%
EPS beat(4)1
Avg EPS beat(4)-19.73%
Min EPS beat(4)-61.26%
Max EPS beat(4)12.09%
EPS beat(8)3
Avg EPS beat(8)-9%
EPS beat(12)4
Avg EPS beat(12)-10.69%
EPS beat(16)6
Avg EPS beat(16)-8.52%
Revenue beat(2)1
Avg Revenue beat(2)1.62%
Min Revenue beat(2)-0.23%
Max Revenue beat(2)3.47%
Revenue beat(4)3
Avg Revenue beat(4)2.51%
Min Revenue beat(4)-0.23%
Max Revenue beat(4)5.69%
Revenue beat(8)5
Avg Revenue beat(8)1.71%
Revenue beat(12)7
Avg Revenue beat(12)0.6%
Revenue beat(16)9
Avg Revenue beat(16)6.44%
PT rev (1m)-14.28%
PT rev (3m)-12.44%
EPS NQ rev (1m)-11.32%
EPS NQ rev (3m)-6.32%
EPS NY rev (1m)-3.55%
EPS NY rev (3m)-14.94%
Revenue NQ rev (1m)-11.61%
Revenue NQ rev (3m)-12.13%
Revenue NY rev (1m)-1.18%
Revenue NY rev (3m)-0.31%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.05 | ||
| Fwd PE | 6.8 | ||
| P/S | 1.94 | ||
| P/FCF | 182.02 | ||
| P/OCF | 3.86 | ||
| P/B | 1.22 | ||
| P/tB | 1.22 | ||
| EV/EBITDA | 3.71 |
EPS(TTM)0.21
EY5.25%
EPS(NY)0.59
Fwd EY14.7%
FCF(TTM)0.02
FCFY0.55%
OCF(TTM)1.04
OCFY25.92%
SpS2.06
BVpS3.27
TBVpS3.27
PEG (NY)0.11
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -15.27% | ||
| ROE | -24.08% | ||
| ROCE | 14.07% | ||
| ROIC | 10.13% | ||
| ROICexc | 11.26% | ||
| ROICexgc | 11.26% | ||
| OM | 31.5% | ||
| PM (TTM) | N/A | ||
| GM | 38.54% | ||
| FCFM | 1.07% |
ROA(3y)6.29%
ROA(5y)9.7%
ROE(3y)7.79%
ROE(5y)12.5%
ROIC(3y)12.11%
ROIC(5y)13.54%
ROICexc(3y)14.46%
ROICexc(5y)15.84%
ROICexgc(3y)14.46%
ROICexgc(5y)15.84%
ROCE(3y)16.82%
ROCE(5y)18.81%
ROICexcg growth 3Y-22.42%
ROICexcg growth 5Y3.18%
ROICexc growth 3Y-22.42%
ROICexc growth 5Y3.18%
OM growth 3Y-10.9%
OM growth 5Y3.86%
PM growth 3Y-75.41%
PM growth 5Y-28.27%
GM growth 3Y-9.03%
GM growth 5Y2.18%
F-Score2
Asset Turnover0.4
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.07 | ||
| Debt/FCF | 18.49 | ||
| Debt/EBITDA | 0.23 | ||
| Cap/Depr | 246.31% | ||
| Cap/Sales | 49.22% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 97.66% | ||
| Profit Quality | N/A | ||
| Current Ratio | 1.83 | ||
| Quick Ratio | 1.08 | ||
| Altman-Z | 2.06 |
F-Score2
WACC9.33%
ROIC/WACC1.09
Cap/Depr(3y)128.34%
Cap/Depr(5y)121.18%
Cap/Sales(3y)27.35%
Cap/Sales(5y)24.87%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-48.28%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%-85.71%
EPS Next Y176.19%
EPS Next 2Y79.57%
EPS Next 3Y22.54%
EPS Next 5Y30.44%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-2.38%
Revenue Next Year43.26%
Revenue Next 2Y20.77%
Revenue Next 3Y9.54%
Revenue Next 5YN/A
EBIT growth 1Y-17.14%
EBIT growth 3Y-8.54%
EBIT growth 5Y17.33%
EBIT Next Year59.62%
EBIT Next 3Y22.69%
EBIT Next 5Y18.83%
FCF growth 1Y-89.51%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y62.7%
OCF growth 3Y-9.08%
OCF growth 5Y9.64%