B2GOLD CORP (BTG) Stock Fundamental Analysis
NYSEARCA:BTG - CA11777Q2099 - Common Stock
3.98 USD
+0.08 (+2.05%)
3.9604 USD
-0.02 (-0.49%)
BTG gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 155 industry peers in the Metals & Mining industry. BTG has a medium profitability rating, but doesn't score so well on its financial health evaluation. BTG is valued quite cheap, while showing a decent growth score. This is a good combination!
1. Profitability
1.1 Basic Checks
In the past year BTG was profitable.
In the past year BTG had a positive cash flow from operations.
BTG had positive earnings in 4 of the past 5 years.
BTG had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
With a Return On Assets value of -8.17%, BTG is not doing good in the industry: 70.32% of the companies in the same industry are doing better.
The Return On Equity of BTG (-13.26%) is worse than 63.87% of its industry peers.
BTG has a better Return On Invested Capital (14.06%) than 92.90% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BTG is in line with the industry average of 12.74%.
The last Return On Invested Capital (14.06%) for BTG is above the 3 year average (11.55%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -8.17% | ||
| ROE | -13.26% | ||
| ROIC | 14.06% |
ROA(3y)-2%
ROA(5y)4.89%
ROE(3y)-4.15%
ROE(5y)5.33%
ROIC(3y)11.55%
ROIC(5y)14.74%
1.3 Margins
BTG has a Operating Margin of 35.54%. This is amongst the best in the industry. BTG outperforms 87.74% of its industry peers.
In the last couple of years the Operating Margin of BTG has remained more or less at the same level.
The Gross Margin of BTG (41.34%) is better than 80.00% of its industry peers.
In the last couple of years the Gross Margin of BTG has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 35.54% | ||
| PM (TTM) | N/A | ||
| GM | 41.34% |
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
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so BTG is still creating some value.
BTG has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BTG has more shares outstanding
BTG has a worse debt/assets ratio than last year.
2.2 Solvency
BTG has an Altman-Z score of 2.34. 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.
BTG has a Altman-Z score (2.34) which is comparable to the rest of the industry.
A Debt/Equity ratio of 0.13 indicates that BTG is not too dependend on debt financing.
BTG has a Debt to Equity ratio (0.13) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.13 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.34 |
ROIC/WACC1.51
WACC9.29%
2.3 Liquidity
BTG has a Current Ratio of 0.98. 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 worse Current ratio (0.98) than 83.87% of its industry peers.
BTG has a Quick Ratio of 0.98. 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's Quick ratio of 0.40 is on the low side compared to the rest of the industry. BTG is outperformed by 90.32% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.98 | ||
| Quick Ratio | 0.4 |
3. Growth
3.1 Past
The earnings per share for BTG have decreased by 0.00% in the last year.
The Earnings Per Share has been decreasing by -9.71% on average over the past years.
Looking at the last year, BTG shows a quite strong growth in Revenue. The Revenue has grown by 11.75% in the last year.
The Revenue has been growing by 10.48% on average over the past years. This is quite good.
EPS 1Y (TTM)0%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%100%
Revenue 1Y (TTM)11.75%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%40.53%
3.2 Future
BTG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 20.67% yearly.
Based on estimates for the next years, BTG will show a quite strong growth in Revenue. The Revenue will grow by 13.98% on average per year.
EPS Next Y274.82%
EPS Next 2Y92.44%
EPS Next 3Y65.54%
EPS Next 5Y20.67%
Revenue Next Year64.68%
Revenue Next 2Y32.66%
Revenue Next 3Y21.59%
Revenue Next 5Y13.98%
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.
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
With a Price/Earnings ratio of 16.58, BTG is valued correctly.
83.87% of the companies in the same industry are more expensive than BTG, based on the Price/Earnings ratio.
The average S&P500 Price/Earnings ratio is at 27.24. BTG is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 7.16, the valuation of BTG can be described as very cheap.
89.68% of the companies in the same industry are more expensive than BTG, based on the Price/Forward Earnings ratio.
When comparing the Price/Forward Earnings ratio of BTG to the average of the S&P500 Index (22.81), we can say BTG is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.58 | ||
| Fwd PE | 7.16 |
4.2 Price Multiples
BTG's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. BTG is cheaper than 92.90% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.71 |
4.3 Compensation for Growth
BTG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as BTG's earnings are expected to grow with 65.54% in the coming years.
PEG (NY)0.06
PEG (5Y)N/A
EPS Next 2Y92.44%
EPS Next 3Y65.54%
5. Dividend
5.1 Amount
BTG has a Yearly Dividend Yield of 4.01%, which is a nice return.
Compared to an average industry Dividend Yield of 2.59, BTG pays a better dividend. On top of this BTG pays more dividend than 93.55% of the companies listed in the same industry.
BTG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.01% |
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
5.3 Sustainability
BTG has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The dividend of BTG is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP-33.27%
EPS Next 2Y92.44%
EPS Next 3Y65.54%
3.98
+0.08 (+2.05%)
Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)
Earnings (Next)
Inst Owners60.74%
Inst Owner Change4.04%
Ins Owners0.64%
Ins Owner ChangeN/A
Market Cap5.27B
Analysts72.5
Price Target4.82 (21.11%)
Short Float %5.16%
Short Ratio1.61
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.01% |
Yearly Dividend0.14
Dividend Growth(5Y)69.07%
DP-33.27%
Div Incr Years0
Div Non Decr Years5
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.84%
Min EPS beat(2)-11.53%
Max EPS beat(2)1.84%
EPS beat(4)1
Avg EPS beat(4)-39.36%
Min EPS beat(4)-86.5%
Max EPS beat(4)1.84%
EPS beat(8)2
Avg EPS beat(8)-25.06%
EPS beat(12)4
Avg EPS beat(12)-18.05%
EPS beat(16)5
Avg EPS beat(16)-14.6%
Revenue beat(2)0
Avg Revenue beat(2)-5.99%
Min Revenue beat(2)-9.16%
Max Revenue beat(2)-2.83%
Revenue beat(4)0
Avg Revenue beat(4)-3.31%
Min Revenue beat(4)-9.16%
Max Revenue beat(4)-0.23%
Revenue beat(8)3
Avg Revenue beat(8)-0.59%
Revenue beat(12)5
Avg Revenue beat(12)-0.22%
Revenue beat(16)7
Avg Revenue beat(16)-0.48%
PT rev (1m)1.75%
PT rev (3m)10.16%
EPS NQ rev (1m)-7.14%
EPS NQ rev (3m)13.04%
EPS NY rev (1m)29.18%
EPS NY rev (3m)29.18%
Revenue NQ rev (1m)-14.58%
Revenue NQ rev (3m)8.6%
Revenue NY rev (1m)7.41%
Revenue NY rev (3m)7.41%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 16.58 | ||
| Fwd PE | 7.16 | ||
| P/S | 2.42 | ||
| P/FCF | N/A | ||
| P/OCF | 9.78 | ||
| P/B | 1.61 | ||
| P/tB | 1.61 | ||
| EV/EBITDA | 4.71 |
EPS(TTM)0.24
EY6.03%
EPS(NY)0.56
Fwd EY13.96%
FCF(TTM)-0.27
FCFYN/A
OCF(TTM)0.41
OCFY10.22%
SpS1.64
BVpS2.47
TBVpS2.47
PEG (NY)0.06
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -8.17% | ||
| ROE | -13.26% | ||
| ROCE | 17.8% | ||
| ROIC | 14.06% | ||
| ROICexc | 15.15% | ||
| ROICexgc | 15.15% | ||
| OM | 35.54% | ||
| PM (TTM) | N/A | ||
| GM | 41.34% | ||
| 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%
ROICexcg growth 3Y-16.06%
ROICexcg 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-Score4
Asset Turnover0.41
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.13 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 0.36 | ||
| Cap/Depr | 238.11% | ||
| Cap/Sales | 41.02% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 46.96% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.98 | ||
| Quick Ratio | 0.4 | ||
| Altman-Z | 2.34 |
F-Score4
WACC9.29%
ROIC/WACC1.51
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)0%
EPS 3Y-25.99%
EPS 5Y-9.71%
EPS Q2Q%100%
EPS Next Y274.82%
EPS Next 2Y92.44%
EPS Next 3Y65.54%
EPS Next 5Y20.67%
Revenue 1Y (TTM)11.75%
Revenue growth 3Y2.58%
Revenue growth 5Y10.48%
Sales Q2Q%40.53%
Revenue Next Year64.68%
Revenue Next 2Y32.66%
Revenue Next 3Y21.59%
Revenue Next 5Y13.98%
EBIT growth 1Y15.53%
EBIT growth 3Y-4.73%
EBIT growth 5Y9.8%
EBIT Next Year634.57%
EBIT Next 3Y96.49%
EBIT Next 5Y49.1%
FCF growth 1Y-237.87%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-29.39%
OCF growth 3Y6.62%
OCF growth 5Y12.27%