Financials B2Gold Corp.

Equities

BTO

CA11777Q2099

Gold

Market Closed - Toronto S.E. 04:00:00 2024-04-26 pm EDT 5-day change 1st Jan Change
3.58 CAD +1.70% Intraday chart for B2Gold Corp. -0.28% -14.56%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 4,112 5,881 4,158 3,812 4,110 3,407 - -
Enterprise Value (EV) 1 4,234 5,511 3,560 3,217 4,110 3,157 3,071 3,002
P/E ratio 13.8 x 9.49 x 9.85 x 14.8 x 316 x 10.4 x 5.02 x 4.58 x
Yield 0.25% 1.97% 4.06% 4.51% - 5.59% 6.12% -
Capitalization / Revenue 3.56 x 3.29 x 2.36 x 2.2 x 2.12 x 1.84 x 1.34 x 1.73 x
EV / Revenue 3.66 x 3.08 x 2.02 x 1.86 x 2.12 x 1.71 x 1.21 x 1.53 x
EV / EBITDA 6.58 x 4.56 x 3.2 x 3.53 x 3.79 x 3.33 x 2.13 x 2.83 x
EV / FCF 24 x 9.24 x 8.44 x 12.7 x - 32.5 x 6.26 x 6.27 x
FCF Yield 4.16% 10.8% 11.8% 7.89% - 3.08% 16% 16%
Price to Book 2.08 x - - - - - - -
Nbr of stocks (in thousands) 1,026,040 1,050,592 1,055,585 1,074,567 1,300,441 1,302,851 - -
Reference price 2 4.008 5.598 3.939 3.547 3.161 2.615 2.615 2.615
Announcement Date 2/27/20 2/23/21 2/23/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,156 1,789 1,762 1,733 1,934 1,847 2,547 1,968
EBITDA 1 643.1 1,209 1,111 911.1 1,085 947 1,442 1,060
EBIT 1 391.8 907.1 720.7 527.2 682.6 614.7 1,138 695
Operating Margin 33.9% 50.71% 40.89% 30.43% 35.29% 33.28% 44.69% 35.32%
Earnings before Tax (EBT) 1 482.4 1,034 726.2 530.6 320.3 610 1,142 -
Net income 1 293.4 628.1 420.1 252.9 10.1 278 736.1 -
Net margin 25.39% 35.11% 23.84% 14.6% 0.52% 15.05% 28.91% -
EPS 2 0.2900 0.5900 0.4000 0.2400 0.0100 0.2504 0.5212 0.5705
Free Cash Flow 1 176.1 596.8 421.8 253.7 - 97.23 490.4 479
FCF margin 15.24% 33.36% 23.93% 14.64% - 5.26% 19.26% 24.34%
FCF Conversion (EBITDA) 27.38% 49.38% 37.96% 27.85% - 10.27% 34.01% 45.21%
FCF Conversion (Net income) 60.02% 95.02% 100.41% 100.34% - 34.97% 66.62% -
Dividend per Share 2 0.0100 0.1100 0.1600 0.1600 - 0.1462 0.1600 -
Announcement Date 2/27/20 2/23/21 2/23/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 510.9 526.1 365.6 382 392.6 592.5 473.6 470.9 477.9 512 443.8 492.4 452.8 591.9 -
EBITDA 1 336.2 347.6 203.8 183.7 169.3 369.1 279.9 258.4 262.4 284.7 220.9 228.8 197.3 291.5 347.4
EBIT 1 224.5 227.6 126.5 101.9 60.33 238.5 182.8 163.7 160.8 175.7 122.7 168.4 140.9 253 -
Operating Margin 43.94% 43.26% 34.6% 26.66% 15.37% 40.26% 38.6% 34.77% 33.64% 34.31% 27.64% 34.21% 31.12% 42.74% -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income 1 123.1 136.9 80.72 37.8 -23.41 157.8 85.97 80.42 -43.07 -113.2 79.87 114.5 94.03 178.1 -
Net margin 24.1% 26.03% 22.08% 9.9% -5.96% 26.63% 18.15% 17.08% -9.01% -22.12% 18% 23.25% 20.77% 30.09% -
EPS 2 0.1200 0.1300 0.0800 0.0400 -0.0200 0.1500 0.0800 0.0600 -0.0300 -0.0900 0.0531 0.0555 0.0488 0.0775 -
Dividend per Share 0.0400 0.0400 - - - - - - - - - - - - -
Announcement Date 11/2/21 2/23/22 5/3/22 8/3/22 11/1/22 2/22/23 5/9/23 8/2/23 11/8/23 2/21/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 121 - - - - - - -
Net Cash position 1 - 370 598 595 - 251 336 405
Leverage (Debt/EBITDA) 0.1885 x - - - - - - -
Free Cash Flow 1 176 597 422 254 - 97.2 490 479
ROE (net income / shareholders' equity) 16.3% 27.5% 15.5% 8.62% - 10.1% 24.8% -
ROA (Net income/ Total Assets) 11.2% 20.8% 12.1% - - - - -
Assets 1 2,615 3,023 3,462 - - - - -
Book Value Per Share 1.930 - - - - - - -
Cash Flow per Share 2 0.4800 0.9000 0.6800 0.5600 - 0.6400 0.7700 0.5400
Capex 1 316 354 302 342 - 824 452 278
Capex / Sales 27.33% 19.78% 17.16% 19.74% - 44.59% 17.76% 14.13%
Announcement Date 2/27/20 2/23/21 2/23/22 2/22/23 2/21/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
2.615 USD
Average target price
4.684 USD
Spread / Average Target
+79.10%
Consensus
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