B2Gold (BTGN) Ratios
B2Gold Ratios
MX:BTGN's free cash flow for Q2 2026 was $-237.20M. For the 2026 fiscal year, MX:BTGN's free cash flow was decreased by $-161.65M and operating cash flow was $-75.55M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 1.06 | 1.55 | 2.27 | 4.43 | 4.52 |
| Quick Ratio | 0.47 | 0.73 | 1.16 | 3.01 | 3.35 |
| Cash Ratio | 0.36 | 0.58 | 0.98 | 2.79 | 2.91 |
| Solvency Ratio | 0.38 | -0.15 | 0.45 | 1.12 | 1.34 |
| Operating Cash Flow Ratio | 0.84 | 1.42 | 2.32 | 2.43 | 3.08 |
| Short-Term Operating Cash Flow Coverage | 26.41 | 50.24 | 44.70 | 36.61 | 28.04 |
| Net Current Asset Value | $ -1.11B | $ -875.99M | $ -252.09M | $ 470.29M | $ 441.64M |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.11 | 0.09 | 0.04 | 0.02 | 0.02 |
| Debt-to-Equity Ratio | 0.18 | 0.15 | 0.05 | 0.02 | 0.03 |
| Debt-to-Capital Ratio | 0.15 | 0.13 | 0.05 | 0.02 | 0.03 |
| Long-Term Debt-to-Capital Ratio | 0.13 | 0.12 | 0.04 | 0.00 | 0.00 |
| Financial Leverage Ratio | 1.64 | 1.61 | 1.28 | 1.22 | 1.25 |
| Debt Service Coverage Ratio | 12.76 | 11.88 | 19.66 | 25.38 | 22.23 |
| Interest Coverage Ratio | 37.45 | -7.13 | 23.51 | 46.34 | 60.48 |
| Debt to Market Cap | 0.10 | 0.13 | 0.04 | 0.00 | 0.01 |
| Interest Debt Per Share | 0.50 | 0.36 | 0.17 | 0.06 | 0.08 |
| Net Debt to EBITDA | 0.17 | 0.11 | -0.13 | -0.65 | -0.54 |
| Profitability Margins | |||||
| Gross Profit Margin | 50.01% | 56.45% | 61.13% | 57.03% | 65.11% |
| EBIT Margin | 33.14% | 29.72% | 23.44% | 30.19% | 40.28% |
| EBITDA Margin | 47.54% | 48.70% | 44.96% | 52.92% | 61.69% |
| Operating Profit Margin | 46.12% | -13.06% | 16.93% | 29.00% | 40.49% |
| Pretax Profit Margin | 31.91% | -16.26% | 16.56% | 30.63% | 41.21% |
| Net Profit Margin | 13.13% | -33.12% | 0.52% | 14.60% | 23.84% |
| Continuous Operations Profit Margin | 13.94% | -32.95% | 2.15% | 16.55% | 26.15% |
| Net Income Per EBT | 41.15% | 203.70% | 3.15% | 47.66% | 57.84% |
| EBT Per EBIT | 69.19% | 124.52% | 97.84% | 105.62% | 101.77% |
| Return on Assets (ROA) | 6.97% | -13.09% | 0.21% | 6.80% | 11.91% |
| Return on Equity (ROE) | 11.40% | -21.13% | 0.27% | 8.32% | 14.83% |
| Return on Capital Employed (ROCE) | 29.87% | -5.87% | 7.23% | 14.43% | 21.63% |
| Return on Invested Capital (ROIC) | 12.96% | -5.85% | 0.94% | 7.76% | 13.62% |
| Return on Tangible Assets | 6.97% | -13.09% | 0.21% | 6.80% | 11.91% |
| Earnings Yield | 6.86% | -19.67% | 0.26% | 6.71% | 10.12% |
| Efficiency Ratios | |||||
| Receivables Turnover | 34.51 | 28.61 | 40.01 | 39.64 | 42.00 |
| Payables Turnover | 8.92 | 5.30 | 4.53 | 6.42 | 5.56 |
| Inventory Turnover | 2.49 | 1.74 | 2.19 | 2.22 | 2.28 |
| Fixed Asset Turnover | 0.83 | 0.58 | 0.55 | 0.75 | 0.80 |
| Asset Turnover | 0.53 | 0.40 | 0.40 | 0.47 | 0.50 |
| Working Capital Turnover Ratio | 16.01 | 5.32 | 3.21 | 2.14 | 2.75 |
| Cash Conversion Cycle | 116.43 | 154.21 | 95.57 | 116.76 | 103.16 |
| Days of Sales Outstanding | 10.58 | 12.76 | 9.12 | 9.21 | 8.69 |
| Days of Inventory Outstanding | 146.75 | 210.30 | 166.99 | 164.38 | 160.17 |
| Days of Payables Outstanding | 40.90 | 68.85 | 80.54 | 56.83 | 65.70 |
| Operating Cycle | 157.32 | 223.05 | 176.12 | 173.59 | 168.86 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 0.67 | 0.63 | 0.59 | 0.54 | 0.67 |
| Free Cash Flow Per Share | 0.05 | 0.00 | -0.02 | 0.29 | 0.44 |
| Dividend Paid and CapEx Coverage Ratio | 0.96 | 0.82 | 0.77 | 1.32 | 1.73 |
| Capital Expenditure Coverage Ratio | 1.08 | 1.00 | 0.97 | 2.12 | 2.92 |
| Operating Cash Flow Coverage Ratio | 1.42 | 1.88 | 3.78 | 9.93 | 9.48 |
| Operating Cash Flow to Sales Ratio | 0.29 | 0.43 | 0.37 | 0.33 | 0.40 |
| Free Cash Flow Yield | 1.11% | 0.01% | -0.65% | 8.06% | 11.18% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 14.52 | -5.08 | 385.46 | 14.90 | 9.88 |
| Price-to-Sales (P/S) Ratio | 1.91 | 1.68 | 2.01 | 2.17 | 2.35 |
| Price-to-Book (P/B) Ratio | 1.66 | 1.07 | 1.03 | 1.24 | 1.46 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 89.85 | 17246.27 | -153.39 | 12.41 | 8.95 |
| Price-to-Operating Cash Flow Ratio | 6.68 | 3.88 | 5.40 | 6.57 | 5.88 |
| Price-to-Earnings Growth (PEG) Ratio | -0.09 | 0.00 | -3.99 | -0.37 | -0.30 |
| Enterprise Value Multiple | 4.20 | 3.57 | 4.34 | 3.45 | 3.27 |
| Enterprise Value | 6.21B | 3.30B | 3.78B | 3.17B | 3.56B |
| EV to EBITDA | 4.20 | 3.57 | 4.34 | 3.45 | 3.27 |
| EV to Sales | 1.99 | 1.74 | 1.95 | 1.83 | 2.02 |
| EV to Free Cash Flow | 93.61 | 17789.55 | -148.90 | 10.43 | 7.67 |
| EV to Operating Cash Flow | 6.96 | 4.01 | 5.24 | 5.52 | 5.04 |
| Tangible Book Value Per Share | 2.74 | 2.32 | 3.15 | 2.96 | 2.78 |
| Shareholders’ Equity Per Share | 2.71 | 2.28 | 3.07 | 2.86 | 2.69 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.56 | -1.03 | 0.87 | 0.46 | 0.37 |
| Revenue Per Share | 2.35 | 1.45 | 1.57 | 1.63 | 1.67 |
| Net Income Per Share | 0.31 | -0.48 | 0.01 | 0.24 | 0.40 |
| Tax Burden | 0.41 | 2.04 | 0.03 | 0.48 | 0.58 |
| Interest Burden | 0.96 | -0.55 | 0.71 | 1.01 | 1.02 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A to Revenue | 0.03 | 0.05 | 0.03 | 0.03 | 0.03 |
| Stock-Based Compensation to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Quality | 2.18 | -1.37 | 70.31 | 2.34 | 1.71 |
Currency in USD