B2GOLD CORP (BTO.CA) Stock Fundamental Analysis
Canada - TSX:BTO - CA11777Q2099 - Common Stock
5.64 CAD
-0.14 (-2.42%)
We assign a fundamental rating of 6 out of 10 to BTO. BTO was compared to 799 industry peers in the Metals & Mining industry. BTO has an excellent profitability rating, but there are concerns on its financial health. BTO is evaluated to be cheap and growing strongly. This does not happen too often!
1. Profitability
1.1 Basic Checks
In the past year BTO was profitable.
BTO had a positive operating cash flow in the past year.
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's Return On Assets of 3.85% is amongst the best of the industry. BTO outperforms 87.98% of its industry peers.
BTO has a Return On Equity of 6.60%. This is amongst the best in the industry. BTO outperforms 88.74% 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 97.00% 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 12.43%.
The last Return On Invested Capital (15.76%) for BTO is above the 3 year average (10.53%), which is a sign of increasing profitability.
| 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
With an excellent Profit Margin value of 8.75%, BTO belongs to the best of the industry, outperforming 91.24% of the companies in the same industry.
BTO has a Operating Margin of 40.66%. This is amongst the best in the industry. BTO outperforms 97.50% of its industry peers.
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 94.49% of its industry peers.
BTO's Gross Margin has been stable in the last couple of years.
| 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
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so BTO is creating value.
Compared to 1 year ago, BTO has more shares outstanding
The number of shares outstanding for BTO has been increased compared to 5 years ago.
BTO has a worse debt/assets ratio than last year.
2.2 Solvency
BTO has an Altman-Z score of 2.30. 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 2.30. This is comparable to the rest of the industry: BTO outperforms 49.06% of its industry peers.
A Debt/Equity ratio of 0.18 indicates that BTO is not too dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.18, BTO is doing worse than 67.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.18 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.3 |
ROIC/WACC1.84
WACC8.57%
2.3 Liquidity
BTO has a Current Ratio of 1.03. This is a normal value and indicates that BTO is financially healthy and should not expect problems in meeting its short term obligations.
BTO has a worse Current ratio (1.03) than 61.45% of its industry peers.
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's Quick ratio of 0.46 is on the low side compared to the rest of the industry. BTO is outperformed by 71.34% 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%.
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
Based on estimates for the next years, BTO will show a very strong growth in Earnings Per Share. The EPS will grow by 43.86% on average per year.
Based on estimates for the next years, BTO will show a quite strong growth in Revenue. The Revenue will grow by 17.03% on average per year.
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
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
Based on the Price/Earnings ratio of 11.06, the valuation of BTO can be described as reasonable.
95.12% of the companies in the same industry are more expensive than BTO, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 25.56, BTO is valued rather cheaply.
BTO is valuated cheaply with a Price/Forward Earnings ratio of 6.06.
BTO's Price/Forward Earnings ratio is rather cheap when compared to the industry. BTO is cheaper than 96.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.62, BTO is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.06 | ||
| Fwd PE | 6.06 |
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 97.87% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 3.95 |
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 3.77%.
BTO's Dividend Yield is rather good when compared to the industry average which is at 12.80. BTO pays more dividend than 98.87% of the companies in the same industry.
BTO's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.77% |
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
BTO pays out 56.73% of its income as dividend. 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 (11/17/2025, 7:00:00 PM)
5.64
-0.14 (-2.42%)
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 Cap7.46B
Revenue(TTM)2.51B
Net Income(TTM)219.32M
Analysts72.5
Price Target8.14 (44.33%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.77% |
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)-10.42%
Min EPS beat(2)-11.53%
Max EPS beat(2)-9.32%
EPS beat(4)1
Avg EPS beat(4)-26.38%
Min EPS beat(4)-86.5%
Max EPS beat(4)1.84%
EPS beat(8)2
Avg EPS beat(8)-23.05%
EPS beat(12)4
Avg EPS beat(12)-14.79%
EPS beat(16)5
Avg EPS beat(16)-14.61%
Revenue beat(2)0
Avg Revenue beat(2)-5.61%
Min Revenue beat(2)-8.39%
Max Revenue beat(2)-2.83%
Revenue beat(4)0
Avg Revenue beat(4)-5.35%
Min Revenue beat(4)-9.16%
Max Revenue beat(4)-1.03%
Revenue beat(8)3
Avg Revenue beat(8)-1.42%
Revenue beat(12)5
Avg Revenue beat(12)-0.64%
Revenue beat(16)7
Avg Revenue beat(16)-0.89%
PT rev (1m)18.15%
PT rev (3m)23.89%
EPS NQ rev (1m)0.8%
EPS NQ rev (3m)13.64%
EPS NY rev (1m)0.02%
EPS NY rev (3m)32.07%
Revenue NQ rev (1m)0.82%
Revenue NQ rev (3m)5.46%
Revenue NY rev (1m)0.5%
Revenue NY rev (3m)6.87%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.06 | ||
| Fwd PE | 6.06 | ||
| P/S | 2.12 | ||
| P/FCF | N/A | ||
| P/OCF | 7.32 | ||
| P/B | 1.6 | ||
| P/tB | 1.6 | ||
| EV/EBITDA | 3.95 |
EPS(TTM)0.51
EY9.04%
EPS(NY)0.93
Fwd EY16.5%
FCF(TTM)-0.22
FCFYN/A
OCF(TTM)0.77
OCFY13.66%
SpS2.66
BVpS3.53
TBVpS3.53
PEG (NY)0.04
PEG (5Y)N/A
Graham Number6.36
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 | 2.3 |
F-Score6
WACC8.57%
ROIC/WACC1.84
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 11.06 and the Price/Book (PB) ratio is 1.6.
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.