Company Valuation: B2Gold Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,154 3,819 4,126 3,212 6,022 6,770 - -
Change - -8.06% 8.04% -22.14% 87.47% 12.42% - -
Enterprise Value (EV) 1 3,556 3,224 4,011 3,313 6,240 8,052 7,070 5,383
Change - -9.33% 24.41% -17.4% 88.34% 29.04% -12.2% -23.86%
P/E 9.84x 14.8x 317x -5.1x 16.1x 6.29x 4.19x 3.79x
PBR - - - - - - - -
PEG - -0.4x -3.3x 0x -0x 0x 0.1x 0.4x
Capitalization / Revenue 2.36x 2.2x 2.13x 1.69x 1.97x 1.76x 1.43x 1.26x
EV / Revenue 2.02x 1.86x 2.07x 1.74x 2.04x 2.09x 1.49x 1x
EV / EBITDA 3.2x 3.54x 3.7x 3.5x 3.37x 3.44x 2.31x 1.47x
EV / EBIT 4.93x 6.12x 5.88x 5.71x 4.42x 4.29x 2.7x 1.73x
EV / FCF 8.43x 12.7x -36.3x -140x 189x 18.5x 5.21x 2.81x
FCF Yield 11.9% 7.87% -2.75% -0.71% 0.53% 5.42% 19.2% 35.6%
Dividend per Share 2 0.16 0.16 0.16 0.16 - 0.0798 0.08 0.08
Rate of return 4.07% 4.5% 5.04% 6.54% - 1.56% 1.56% 1.56%
EPS 2 0.4 0.24 0.01 -0.48 0.28 0.8149 1.221 1.35
Distribution rate 40% 66.7% 1,600% -33.3% - 9.8% 6.55% 5.92%
Net sales 1 1,762 1,733 1,934 1,902 3,061 3,853 4,743 5,373
EBITDA 1 1,111 911.1 1,085 947.8 1,853 2,341 3,057 3,660
EBIT 1 720.7 527.2 682.6 580.4 1,412 1,878 2,615 3,106
Net income 1 420.1 252.9 10.1 -629.9 401.9 1,155 1,667 1,722
Net Debt 1 -597.9 -594.7 -114.8 100.9 217.9 1,282 300 -1,387
Reference price 2 3.935 3.554 3.173 2.446 4.507 5.124 5.124 5.124
Nbr of stocks (in thousands) 1,055,585 1,074,567 1,300,441 1,313,105 1,336,138 1,321,387 - -
Announcement Date 2/23/22 2/22/23 2/21/24 2/19/25 2/18/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.29x2.09x3.44x1.56% 6.77B
12.06x4.41x6.83x0.89% 124B
14.87x5.81x8.11x0.87% 94.42B
11.74x3.03x4.39x1.96% 68.55B
27.36x16.52x19.22x0.58% 60.95B
12.36x3.92x5.41x4.21% 49.16B
9.48x3.21x4.82x0.54% 32.39B
18.37x4.28x7.76x2.29% 22.73B
19.67x10.22x12.56x0.83% 19.55B
13.27x3.75x7.22x - 19.34B
Average 14.55x 5.72x 7.98x 1.53% 49.76B
Weighted average by Cap. 14.84x 6.01x 8.22x 1.39%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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