B2GOLD CORP (BTO.CA) Stock Fundamental Analysis
Canada - Toronto Stock Exchange - TSX:BTO - CA11777Q2099 - Common Stock
6.09 CAD
+0.22 (+3.75%)
Overall BTO gets a fundamental rating of 6 out of 10. We evaluated BTO against 796 industry peers in the Metals & Mining industry. While BTO belongs to the best of the industry regarding profitability, 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! Finally BTO also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
BTO had positive earnings in the past year.
In the past year BTO had a positive cash flow from operations.
Of the past 5 years BTO 4 years were profitable.
BTO had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.85%, BTO belongs to the top of the industry, outperforming 87.94% of the companies in the same industry.
BTO's Return On Equity of 6.60% is amongst the best of the industry. BTO outperforms 88.69% of its industry peers.
BTO has a Return On Invested Capital of 15.76%. This is amongst the best in the industry. BTO outperforms 96.98% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BTO is below the industry average of 12.57%.
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
The Profit Margin of BTO (8.75%) is better than 91.21% of its industry peers.
With an excellent Operating Margin value of 40.66%, BTO belongs to the best 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.
With an excellent Gross Margin value of 46.01%, BTO belongs to the best of the industry, outperforming 94.10% 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 | 40.66% | ||
| 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
BTO has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it 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.
BTO has a worse debt/assets ratio than last year.
2.2 Solvency
BTO has an Altman-Z score of 2.40. 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 2.40. This is comparable to the rest of the industry: BTO outperforms 48.62% of its industry peers.
A Debt/Equity ratio of 0.18 indicates that BTO is not too dependend on debt financing.
BTO's Debt to Equity ratio of 0.18 is on the low side compared to the rest of the industry. BTO is outperformed by 67.46% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.18 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.4 |
ROIC/WACC1.86
WACC8.46%
2.3 Liquidity
A Current Ratio of 1.03 indicates that BTO should not have too much problems paying its short term obligations.
With a Current ratio value of 1.03, BTO is not doing good in the industry: 61.31% of the companies in the same industry are doing better.
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.
Looking at the Quick ratio, with a value of 0.46, BTO is doing worse than 71.36% of the companies in the same industry.
| 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.
Measured over the past years, BTO shows a decrease in Earnings Per Share. The EPS has been decreasing by -9.71% on average per year.
Looking at the last year, BTO shows a very strong growth in Revenue. 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
The Earnings Per Share is expected to grow by 43.86% on average over the next years. This is a very strong growth
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
A Price/Earnings ratio of 11.94 indicates a reasonable valuation of BTO.
BTO's Price/Earnings ratio is rather cheap when compared to the industry. BTO is cheaper than 94.97% of the companies in the same industry.
BTO is valuated cheaply when we compare the Price/Earnings ratio to 25.98, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 6.51, the valuation of BTO can be described as very cheap.
BTO's Price/Forward Earnings ratio is rather cheap when compared to the industry. BTO is cheaper than 95.60% of the companies in the same industry.
BTO's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 35.79.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.94 | ||
| Fwd PE | 6.51 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, BTO is valued cheaply inside the industry as 97.61% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 4.23 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BTO has an outstanding profitability rating, which may justify a higher PE ratio.
BTO's earnings are expected to grow with 75.94% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.04
PEG (5Y)N/A
EPS Next 2Y110.23%
EPS Next 3Y75.94%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.06%, BTO is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 12.10, BTO pays a better dividend. On top of this BTO pays more dividend than 98.87% of the companies listed 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
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.
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
BTO pays out 56.73% of its income as dividend. This is a bit on the high side, but may be sustainable.
BTO's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP56.73%
EPS Next 2Y110.23%
EPS Next 3Y75.94%
TSX:BTO (11/25/2025, 7:00:00 PM)
6.09
+0.22 (+3.75%)
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 Cap8.06B
Revenue(TTM)2.51B
Net Income(TTM)219.32M
Analysts72.5
Price Target8.33 (36.78%)
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 | 11.94 | ||
| Fwd PE | 6.51 | ||
| P/S | 2.28 | ||
| P/FCF | N/A | ||
| P/OCF | 7.86 | ||
| P/B | 1.72 | ||
| P/tB | 1.72 | ||
| EV/EBITDA | 4.23 |
EPS(TTM)0.51
EY8.37%
EPS(NY)0.94
Fwd EY15.36%
FCF(TTM)-0.22
FCFYN/A
OCF(TTM)0.77
OCFY12.72%
SpS2.67
BVpS3.55
TBVpS3.55
PEG (NY)0.04
PEG (5Y)N/A
Graham Number6.38
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 | 2.4 |
F-Score6
WACC8.46%
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 11.94 and the Price/Book (PB) ratio is 1.72.
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.