B2Gold Corp. (BTG) quarterly cash flow statement — complete operating, investing & financing history
B2Gold Corp. (BTG) cash flow statement — 19-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | -75.58M | 523.39M | 289.14M | 160.87M | 255.08M | 174.76M | 120.54M | -16.1M | 66.06M | 710.73M | 209.13M | 107.67M | 196.39M | 203.82M | 270.49M | 87.53M | 124.88M | 107.31M | 266.29M | 320.28M |
| Operating CF Margin % | -9.82% | 45.81% | 27.43% | 20.55% | 36.85% | 32.84% | 24.12% | -3.59% | 13.41% | 154.02% | 40.85% | 22.53% | 41.71% | 43.04% | 45.66% | 22.3% | 32.69% | 29.35% | 50.62% | 62.7% |
| Operating CF Growth % | -129.63% | 199.48% | 139.86% | 1099.23% | 286.15% | -75.41% | -42.36% | -114.95% | -66.36% | 248.7% | -22.68% | 23.01% | 57.27% | 89.94% | 1.58% | -72.67% | 1601.67% | -26.43% | 35.39% | 8.13% |
| Net Income | 406.74M | 197.17M | 173.21M | 19.1M | 160.75M | 57.41M | -9.32M | -631.03M | -24M | 39.57M | -116.35M | -42.52M | 81.48M | 101.9M | 176.47M | -22.09M | 40.69M | 90.8M | 153.14M | 134.87M |
| Depreciation & Amortization | 118.01M | 159M | 146.12M | 103.5M | 102.7M | 89.29M | 93.9M | 88.05M | 94.99M | 90.04M | 112M | 100.28M | 95.91M | 97.16M | 130.51M | 88.91M | 81.87M | 77.26M | 105.89M | 105.39M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 8.02M | 0 | 9.86M | 5.07M | 0 | 4.88M | 0 | 0 | 0 | 6.85M | 6.59M | 0 | 3.88M | 8.4M | 6.74M | 6M |
| Deferred Taxes | 27.19M | 80.94M | -127.03M | 31.23M | -29.1M | -15.83M | 30.74M | -12.11M | -37.43M | 23.92M | -13.25M | 7.04M | -3.69M | -1.79M | -48.41M | 32.89M | 4.98M | 4.12M | -14.33M | 3M |
| Other Non-Cash Items | -460.53M | -64.89M | 20.52M | 14.7M | 58.54M | 108.91M | 19.45M | 668.09M | 160.66M | 541.17M | 242.48M | 123.4M | 26.38M | 19.31M | 4.77M | 31.04M | 7.66M | -16.82M | 5.61M | 7.88M |
| Working Capital Changes | -167M | 151.16M | 76.33M | -7.68M | -45.84M | -65.01M | -24.08M | -134.16M | -128.16M | 11.14M | -15.75M | -80.53M | -3.69M | -19.61M | 572K | -43.22M | -14.19M | -56.45M | 9.24M | 63.15M |
| Change in Receivables | -8.06M | -16.23M | 4.84M | -14.8M | -38.86M | -10.5M | 73.52M | -75.38M | -17.96M | -3.55M | 645.62K | -6.55M | 2.79M | -6.61M | 6.81M | -3.99M | -9.18M | -3.83M | 3.33M | 7.27M |
| Change in Inventory | 8.35M | -11.97M | -9.42M | -41.19M | -29.86M | -33.4M | -24.78M | -110.09M | -35.13M | 202.09K | 28.77M | -40.01M | 10.59M | -22.67M | -26.04M | 1.74M | -19.51M | -6.83M | -8.1M | 4.08M |
| Change in Payables | -12.04M | 7.51M | 45.42M | 11.81M | 11.11M | 1.42M | -15.34M | 8.01M | -7.36M | 13.55M | -7.76M | -5.33M | -3.48M | -4.97M | 3.32M | 11.45M | -3.66M | -10.95M | 15.62M | 7.78M |
| Cash from Investing | 151.54M | -173.6M | -186.47M | -275.18M | -236.44M | -194.49M | -251.97M | -163.34M | -109.37M | -239.58M | -293.86M | -232.72M | -195M | -131.09M | -120.63M | -53.22M | -134.77M | -77.84M | -84.49M | -76.5M |
| Capital Expenditures | -174.19M | -175.22M | -177.24M | -257.01M | 0 | -185.15M | -237.99M | -218.26M | -219.29M | -235.95M | -274.67M | -223.45M | -208.33M | -111.37M | -113.41M | -27.81M | -132.49M | -67.92M | -112.5M | -77.5M |
| CapEx % of Revenue | 22.64% | 15.34% | 16.82% | 32.83% | 34.38% | 34.8% | 47.62% | 48.69% | 44.52% | 51.13% | 53.65% | 46.76% | 44.24% | 23.52% | 19.14% | 7.08% | 34.69% | 18.58% | 21.38% | 15.17% |
| Acquisitions | 315.17M | 0 | 0 | 0 | -4.8M | 0 | 58.91K | 7.53M | 0 | 0 | 35.89M | -34.98M | 47.01M | -17.97M | -3.2M | 0 | 0 | 0 | 31.41M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 272.68K | -633.11K | 1.83M | -103.84K | -248.01M | -6.12M | -9.4M | -10.58M | -293.18K | -1.11M | -52.73M | 31.16M | 104.34K | -1.75M | -7.22M | -19.86M | 1.77M | -2.18M | 6.51K | 1M |
| Cash from Financing | -259.58M | -240.84M | -79.28M | 184.84M | -41.89M | 11.72M | 48.15M | 141.68M | -52.3M | -206.62M | 84.23M | -57.3M | -168.71M | -47.82M | -48.02M | -62.95M | -44.43M | -51.02M | -50.1M | -75.53M |
| Debt Issued (Net) | -75.11M | -76.25M | -52.25M | 201.16M | -9.28M | 50.35M | 204.48M | 194.22M | -4.61M | -153.84M | 149.27M | -6.68M | -2.92M | -5.02M | -7.34M | -927.86K | -7.15M | -9.3M | -8.26M | -8.43M |
| Equity Issued (Net) | -79.01M | -51.88M | 45.43M | 19.35M | 4.03M | 2.22M | 9.72M | 571.47K | 1.36M | 1.08M | 494.49K | 6.43M | 3.51M | 2.44M | 1.44M | 413.23K | 8.51M | 4.08M | 2.63M | 1.93M |
| Dividends Paid | -25.29M | -25.94M | -26.41M | -25.62M | -25.96M | -25.47M | -46.66M | -46.11M | -45.87M | -45.99M | -47.79M | -44.93M | -52.44M | -42.98M | -43.01M | -40.51M | -42.51M | -42.23M | -42.22M | -42.19M |
| Share Repurchases | -89.92M | -78.46M | 7.08K | -9.89M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -80.17M | -86.77M | -46.05M | -10.05M | -10.68M | -15.37M | -119.38M | -7M | -3.18M | -7.88M | -17.75M | -12.12M | -116.86M | -2.26M | 891.39K | -21.93M | -3.27M | -3.57M | -2.26M | -26.84M |
| Net Change in Cash | -194.74M | 101.24M | 12.86M | 57.69M | -21.63M | -6.63M | -94.14M | -35.73M | -100.46M | 260.92M | -2.76M | -197.24M | -168.86M | 21.79M | 102.49M | -42.09M | -62.07M | -24.24M | 126.49M | 164.37M |
| Free Cash Flow | -237.3M | 359.69M | 127.62M | -80.5M | 17.13M | -4.81M | -117.45M | -230.08M | -141.68M | 477.03M | -47.39M | -98.2M | 12.97M | 92.45M | 157.08M | 244.84M | -7.62M | 39.38M | 153.79M | 242.78M |
| FCF Margin % | -30.85% | 31.48% | 12.11% | -10.28% | 2.47% | -0.9% | -23.5% | -51.33% | -28.76% | 103.38% | -9.26% | -20.55% | 2.75% | 19.52% | 26.51% | 62.37% | -1.99% | 10.77% | 29.23% | 47.52% |
| FCF Growth % | -1485.43% | 7580.49% | 208.66% | 65.01% | 112.09% | -101.01% | -147.81% | -134.31% | -1192.29% | 415.97% | -130.17% | -140.11% | 270.33% | 134.74% | 2.14% | 0.85% | 88.13% | -55.94% | 41.11% | -6.02% |
| FCF per Share | -0.16 | 0.24 | 0.08 | -0.05 | 0.01 | -0.00 | -0.09 | -0.18 | -0.11 | 0.36 | -0.04 | -0.08 | 0.01 | 0.09 | 0.15 | 0.23 | -0.01 | 0.04 | 0.14 | 0.23 |
| FCF Conversion (FCF/Net Income) | -0.19x | 2.65x | 1.70x | 8.33x | 1.65x | 3.03x | -10.15x | 0.03x | -2.75x | 17.88x | -1.85x | -2.50x | 2.44x | 2.37x | 1.71x | -3.74x | 3.30x | 1.33x | 1.94x | 2.60x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |