B2GOLD CORP
BTG · Gold and Silver Ores · EDGAR filings ↗
Grade
B71Mid-tier gold producer with solid returns and very low leverage, offset by a sharp earnings drop.
Strengths
- ROIC ~25.8% (80th pct), ROA 7.3% (~80th pct), interest coverage 197x (~91st pct)
- Low debt/equity (0.16) and healthy cash (~73rd pct)
Risks
- Net income fell ~168% (9th pct) — earnings volatility
- Weak quick ratio (0.47, ~12th pct); commodity-price and jurisdictional exposure
Notable findings
- RestatementRECOVERY OF ERRONEOUSLY AWARDED COMPENSATION For the year ended December 31, 2025, we were not required to prepare an accounting restatement, nor was there an outstanding balance as of December 31, 8-K ↗
- Strong balance sheetStrong balance sheet — $380M cash & investments
Key metrics
Return on equity
11.7%
Return on assets
7.3%
ROIC
25.8%
Debt / equity
0.2×
Interest coverage
197.5×
Current ratio
1.1×
Tangible book value
$3.6B
Cash & investments
$380M
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 40-F | 2026-03-11 | 2025-12-31 | 0001104659-26-026310 ↗ |
| 40-F | 2025-03-28 | 2024-12-31 | 0001062993-25-006466 ↗ |
| 40-F | 2024-03-15 | 2023-12-31 | 0001104659-24-034694 ↗ |
| 40-F | 2023-03-16 | 2022-12-31 | 0001062993-23-007087 ↗ |
| 40-F | 2022-03-30 | 2021-12-31 | 0001062993-22-008984 ↗ |
| 40-F | 2021-03-30 | 2020-12-31 | 0001062993-21-003130 ↗ |
| 40-F | 2020-03-20 | 2019-12-31 | 0001062993-20-001433 ↗ |
| 40-F | 2019-03-21 | 2018-12-31 | 0001062993-19-001347 ↗ |
| 40-F | 2018-03-23 | 2017-12-31 | 0001062993-18-001330 ↗ |
| 40-F | 2017-03-31 | 2016-12-31 | 0001062993-17-001623 ↗ |
| 40-F | 2016-03-30 | 2015-12-31 | 0001062993-16-008596 ↗ |
| 40-F | 2015-03-30 | 2014-12-31 | 0001062993-15-001608 ↗ |