Last 48 quarters of trend data · Basic Materials · Gold
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
B2Gold Corp.'s quarterly P/E stands at 8.1x, down 55.7% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 35.6% YoY to 2.3x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 15.36 | 8.08 | 10.25 | 95.93 | 9.02 | 18.22 | — | — | — | 21.53 | — | — | 13.77 |
| — | -55.7% | — | — | — | -15.4% | — | — | — | +74.0% | — | — | -42.5% | |
| P/S Ratio | 1.89 | 1.49 | 1.73 | 2.34 | 1.93 | 1.97 | 1.60 | 2.25 | 1.79 | 1.85 | 2.01 | 1.96 | 2.38 |
| — | -24.4% | +7.8% | +4.0% | +7.5% | +6.4% | -20.1% | +14.8% | -24.9% | -17.8% | +24.0% | -10.1% | +0.6% | |
| P/B Ratio | 1.75 | 1.82 | 2.01 | 2.18 | 1.61 | 1.32 | 1.06 | 1.27 | 0.92 | 0.87 | 1.06 | 0.93 | 1.09 |
| — | +38.3% | +89.8% | +71.8% | +75.1% | +51.9% | +0.0% | +36.9% | -15.5% | -35.4% | -14.3% | -20.2% | -9.9% | |
| P/FCF | 87.01 | 4.72 | 14.28 | — | 77.83 | — | — | — | — | 1.79 | — | — | 86.55 |
| — | — | — | — | — | — | — | — | — | -84.5% | — | — | — | |
| EV / EBITDA | 3.27 | 2.34 | 2.79 | 4.18 | 3.25 | 3.63 | 3.56 | — | 6.17 | 2.95 | 13.54 | 6.83 | 3.98 |
| — | -35.6% | -21.6% | — | -47.3% | +23.0% | -73.7% | — | +54.9% | -11.4% | +505.9% | +38.0% | -8.1% | |
| EV / EBIT | 4.29 | 2.98 | 4.93 | 9.39 | 4.68 | 7.73 | 6.94 | — | 24.60 | 5.17 | — | 23.16 | 6.22 |
| — | -61.4% | -28.9% | — | -81.0% | +49.4% | — | — | +295.4% | +2.4% | — | +55.4% | -16.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
B2Gold Corp.'s operating margin was 50.1% in Q1 2026, down 0.3 pp QoQ and up 11.4 pp YoY. The trailing four-quarter average of 47.8% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 17.8% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 50.0% | 52.6% | 52.3% | 49.9% | 50.8% | 44.7% | 34.8% | 30.1% | 43.3% | 39.9% | 40.1% | 35.7% | 40.4% |
| — | +17.8% | +50.3% | +65.7% | +17.3% | +11.9% | -13.3% | -15.7% | +7.1% | -11.5% | -8.8% | +62.9% | +30.9% | |
| Operating Margin | 45.9% | 50.1% | 50.4% | 44.7% | 45.8% | 38.7% | 27.6% | -125.4% | 6.3% | 33.5% | -6.9% | 5.8% | 33.8% |
| — | +29.4% | +82.4% | +135.7% | +632.8% | +15.5% | +502.0% | -2277.7% | -81.5% | -9.8% | -117.6% | -58.5% | +32.0% | |
| Net Margin | 13.1% | 17.3% | 16.2% | 2.5% | 22.3% | 10.8% | -2.4% | -141.4% | -4.9% | 8.6% | -22.1% | -9.0% | 17.1% |
| — | +59.4% | +780.8% | +101.7% | +557.8% | +25.6% | +89.3% | -1468.8% | -128.5% | -52.5% | -183.1% | -51.1% | +72.6% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.1% | 5.4% | 4.9% | 0.6% | 4.8% | 1.9% | -0.4% | -18.0% | -0.6% | 1.0% | -2.9% | -1.1% | 2.2% |
| — | +188.8% | +1374.8% | +103.2% | +870.4% | +82.5% | +86.6% | -1612.2% | -128.0% | -62.9% | -154.8% | -33.9% | +75.2% | |
| ROA | 7.5% | 3.3% | 3.0% | 0.4% | 3.0% | 1.2% | -0.2% | -12.7% | -0.5% | 0.8% | -2.3% | -0.9% | 1.9% |
| — | +186.3% | +1292.0% | +102.8% | +747.8% | +48.3% | +89.4% | -1340.1% | -124.8% | -66.0% | -153.2% | -33.3% | +75.0% | |
| ROIC | 30.0% | 11.2% | 10.6% | 7.4% | 7.1% | 4.8% | 3.3% | -12.9% | 0.7% | 3.2% | -0.7% | 0.6% | 3.8% |
| — | +132.7% | +220.2% | +157.6% | +947.1% | +49.4% | +574.0% | -2431.2% | -82.3% | -38.1% | -110.0% | -66.6% | +28.5% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
B2Gold Corp.'s Debt/EBITDA ratio is 0.7x, down from 0.9x last quarter — comfortably within a safe range. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.17 | 0.14 | 0.17 | 0.19 | 0.13 | 0.13 | 0.14 | 0.12 | 0.01 | 0.01 | 0.05 | 0.01 | 0.01 |
| — | +4.5% | +20.0% | +61.3% | +1143.0% | +1063.9% | +193.6% | +864.1% | -21.6% | -26.2% | +167.2% | -42.2% | -39.6% | |
| Debt / EBITDA | 0.34 | 0.71 | 0.93 | 1.40 | 1.03 | 1.44 | 1.89 | — | 0.32 | 0.18 | 2.59 | 0.39 | 0.22 |
| — | -50.5% | -50.6% | — | +221.3% | +680.4% | -27.2% | — | +47.2% | +2.1% | +1542.1% | -7.7% | -41.3% | |
| Current Ratio | 1.06 | 1.19 | 1.06 | 1.03 | 0.98 | 1.22 | 1.55 | 1.83 | 2.93 | 2.99 | 2.27 | 2.18 | 2.79 |
| — | -2.2% | -31.5% | -43.6% | -66.5% | -59.2% | -31.5% | -15.8% | +5.2% | -25.3% | -48.8% | -58.2% | -39.9% | |
| Quick Ratio | 0.47 | 0.59 | 0.47 | 0.46 | 0.40 | 0.54 | 0.73 | 1.08 | 1.74 | 1.97 | 1.16 | 1.12 | 1.72 |
| — | +8.1% | -35.2% | -57.9% | -76.9% | -72.4% | -37.1% | -3.4% | +0.8% | -26.8% | -61.4% | -68.0% | -47.0% | |
| Interest Coverage | 26.91 | 31.56 | 17.07 | 42.82 | 60.00 | 24.20 | 10.99 | -81.07 | 4.22 | 14.59 | -10.54 | 11.81 | 55.67 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying BTG stock.
B2Gold Corp.'s current P/E is 15.4x. The average P/E over the last 4 quarters is 30.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
B2Gold Corp.'s current operating margin is 45.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking B2Gold Corp.'s business trajectory between earnings reports.