B2Gold Corp. (BTG) Revenue History
Annual and quarterly revenue from 2007 to present
BTG Revenue Over Time (2007–2025)
BTG Revenue Growth History
10 of 16 years with positive growth- FY2007 revenue growth
- N/A
- FY2008 revenue growth
- N/A
- FY2009 revenue growth
- N/A
- FY2010 revenue growth
- +517.9%
- FY2011 revenue growth
- +76.7%
- FY2012 revenue growth
- +15.0%
- FY2013 revenue growth
- +110.1%
- FY2014 revenue growth
- -10.6%
- FY2015 revenue growth
- +13.8%
- FY2016 revenue growth
- +23.4%
- FY2017 revenue growth
- -6.5%
- FY2018 revenue growth
- +91.8%
- FY2019 revenue growth
- -5.7%
- FY2020 revenue growth
- +54.8%
- FY2021 revenue growth
- -1.5%
- FY2022 revenue growth
- -1.7%
- FY2023 revenue growth
- +11.6%
- FY2024 revenue growth
- -1.7%
- FY2025 revenue growth
- +60.9%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $1.14B | +114.7% |
| Q4 2025 | $1.05B | +110.9% |
| Q3 2025 | $782.9M | +74.7% |
| Q2 2025 | $692.2M | +40.5% |
| Q1 2025 | $532.1M | +15.3% |
| Q4 2024 | $499.8M | -2.4% |
| Q3 2024 | $448.2M | -6.2% |
| Q2 2024 | $492.6M | +4.6% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2019)
BTG's revenue distribution by segment and geography for fiscal year 2019
By Product/Segment
BTG Revenue Analysis (2007–2025)
Current Revenue & Growth
As of June 23, 2026, B2Gold Corp. (BTG) generated trailing twelve-month (TTM) revenue of $3.67 billion, reflecting explosive growth of +114.7% year-over-year. The most recent quarter (Q1 2026) recorded $1.14 billion in revenue, up 8.4% sequentially.
Historical Growth Trajectory
BTG's 5-year compound annual growth rate (CAGR) stands at +11.3%, indicating consistent double-digit revenue growth. The 3-year CAGR of +20.9% exceeds the 5-year average, indicating an acceleration in the most recent period. B2Gold Corp.'s highest annual revenue of $3.06 billion was recorded in 2025, an all-time high.
Revenue by Segment
BTG's revenue is primarily driven by 1040 Gold and Silver Ores (100%). With over half of revenue concentrated in 1040 Gold and Silver Ores, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Basic Materials sector peers — including EGO (+37.9% YoY), CDE (+113.7% YoY), and PAAS (+34.3% YoY) — BTG has outperformed the peer group in revenue growth. Compare BTG vs EGO →
BTG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| BTGCurrent | $3.7B | +114.7% | +11.3% | 45.9% | |
 EGO | $1.9B | +37.9% | +12.5% | 41.5% | |
 CDE | $2.1B | +113.7% | +21.4% | 36.3% | |
 PAAS | $3.7B | +34.3% | +22.4% | 32.3% | |
 KGC | $7.2B | +42.7% | +11.2% | 43.2% | |
 IAG | $2.9B | +93.2% | +18.5% | 38.9% |
BTG Historical Revenue Data (2007–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $3.06B | +60.9% | $1.53B | 50.0% | $1.40B | 45.9% |
| 2024 | $1.90B | -1.7% | $706.2M | 37.1% | $594.8M | 31.3% |
| 2023 | $1.93B | +11.6% | $780.0M | 40.3% | $674.6M | 34.9% |
| 2022 | $1.73B | -1.7% | $604.2M | 34.9% | $502.4M | 29.0% |
| 2021 | $1.76B | -1.5% | $768.6M | 43.6% | $713.6M | 40.5% |
| 2020 | $1.79B | +54.8% | $958.3M | 53.6% | $1.05B | 58.9% |
| 2019 | $1.16B | -5.7% | $450.5M | 39.0% | $508.0M | 44.0% |
| 2018 | $1.23B | +91.8% | $364.7M | 29.8% | $286.1M | 23.4% |
| 2017 | $638.7M | -6.5% | $150.3M | 23.5% | $86.7M | 13.6% |
| 2016 | $683.3M | +23.4% | $210.1M | 30.7% | $126.3M | 18.5% |
| 2015 | $553.7M | +13.8% | $87.0M | 15.7% | $-94,773,000 | -17.1% |
| 2014 | $486.6M | -10.6% | $93.9M | 19.3% | $-741,298,000 | -152.3% |
| 2013 | $544.3M | +110.1% | $146.9M | 27.0% | $116.2M | 21.3% |
| 2012 | $259.1M | +15.0% | $127.0M | 49.0% | $84.1M | 32.5% |
| 2011 | $225.4M | +76.7% | $137.2M | 60.9% | $85.7M | 38.0% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
19+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
BTG — Frequently Asked Questions
Quick answers to the most common questions about buying BTG stock.
Is BTG's revenue growth accelerating or slowing?
BTG revenue growth is accelerating. TTM revenue reached $3.7B, up +114.7% year-over-year — ahead of the 5-year CAGR of +11.3%. This indicates the business is expanding faster than its historical baseline.
What is BTG's revenue history from 2007 to 2026?
B2Gold Corp. (BTG) revenue history spans 2007 to 2026. TTM revenue as of 2026 is $3.7B, growing at +114.7% YoY. The 5-year CAGR is +11.3%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is BTG's long-term revenue growth rate (CAGR)?
B2Gold Corp.'s 5-year revenue CAGR of +11.3% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +114.7% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for BTG.
Why does BTG's quarterly revenue fluctuate?
BTG quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. B2Gold Corp.'s revenue data from 2007 to 2026 shows full historical quarterly detail on this page.
How is BTG's revenue distributed by segment?
BTG reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does BTG's revenue compare to industry peers?
B2Gold Corp. (BTG) with TTM revenue of $3.7B and +114.7% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.