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B2Gold Corp
TSX:BTO

Watchlist Manager
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B2Gold Corp
TSX:BTO
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Price: 6.83 CAD 1.04%
Market Cap: CA$9.1B
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Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Cash Flow Statement

Operating Cash Flow
+
3Y
+50%
5Y
-6%
10Y
+411%
Investing Cash Flow
+
3Y
-130%
5Y
-164%
10Y
-203%
Financing Cash Flow
+
3Y
-
5Y
-
10Y
-22%

Cash Flow Statement
B2Gold Corp

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Cash Flow Statement
Currency: USD
Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025 Dec-2025
Operating Cash Flow
Net Income
(12)
(14)
(15)
(30)
(27)
(28)
(26)
(28)
(26)
(32)
(2)
20
36
59
40
56
59
56
62
52
38
59
52
67
43
(1)
(283)
(666)
(636)
(647)
(387)
(145)
(145)
(134)
(85)
39
27
59
35
62
124
141
168
45
14
32
42
309
365
450
677
672
688
624
482
461
453
420
263
287
298
349
335
42
(12)
(138)
(735)
(627)
(613)
(417)
237
427
Depreciation & Amortization
0
0
0
0
0
1
2
2
5
7
10
15
19
22
24
26
27
28
30
33
41
52
65
86
97
107
114
113
120
127
134
144
146
150
158
172
174
180
174
161
205
198
231
306
293
305
301
251
255
280
291
302
298
300
335
379
389
393
376
384
404
417
424
402
396
396
383
367
366
374
390
441
Change in Deffered Taxes
(0)
(1)
(0)
(0)
(1)
(0)
(1)
(1)
(1)
(1)
0
7
13
19
22
18
15
11
9
8
6
6
4
(3)
(5)
(8)
(6)
(109)
(107)
(110)
(106)
(8)
(18)
(19)
(21)
5
14
14
18
(20)
(29)
2
4
38
59
30
42
59
61
52
95
52
54
54
(5)
(5)
(16)
(2)
30
(4)
(10)
(18)
(47)
(11)
10
(24)
(46)
(2)
(38)
(35)
11
(145)
Stock-Based Compensation
2
3
4
4
0
1
2
3
4
4
3
2
3
3
7
6
9
16
15
17
16
15
17
18
19
20
18
16
18
15
15
15
15
14
14
14
10
15
15
18
20
15
19
18
19
23
18
17
17
18
8
17
15
16
29
23
30
25
25
25
23
24
22
21
19
19
20
25
26
29
31
25
Other Non-Cash Items
7
9
8
14
12
11
13
23
21
27
5
(5)
(6)
(11)
10
9
11
16
17
22
49
24
24
(6)
8
39
307
789
733
745
488
170
189
212
209
68
56
(8)
(35)
(31)
(39)
(32)
(4)
50
32
48
73
(80)
(44)
(42)
(248)
(156)
(183)
(192)
(17)
(4)
(6)
6
30
45
80
84
171
402
916
1 070
1 635
1 422
989
892
230
217
Cash Interest Paid
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Change in Working Capital
(0)
(1)
0
0
1
(1)
(4)
(9)
(9)
(8)
(5)
(2)
(1)
(3)
(7)
(7)
(10)
(17)
(14)
(9)
(2)
(4)
(2)
4
(27)
(20)
(17)
(9)
48
53
40
13
116
112
116
128
8
15
20
(16)
2
(19)
0
11
(8)
(16)
(51)
(47)
(14)
38
104
81
24
(152)
(141)
(106)
(134)
2
(107)
(116)
(79)
(69)
(104)
(120)
(89)
(214)
(274)
(283)
(359)
(276)
(144)
(45)
Cash from Operating Activities
(6)
N/A
(7)
-23%
(7)
-6%
(17)
-127%
(15)
+7%
(18)
-18%
(15)
+17%
(13)
+16%
(10)
+24%
(6)
+36%
8
N/A
35
+341%
61
+72%
86
+41%
89
+3%
102
+15%
102
-1%
93
-8%
105
+12%
105
+0%
130
+24%
137
+6%
144
+5%
148
+3%
116
-22%
116
+0%
115
-1%
117
+2%
158
+34%
168
+7%
168
+0%
175
+4%
288
+64%
322
+12%
378
+18%
412
+9%
280
-32%
260
-7%
212
-19%
155
-27%
263
+69%
290
+10%
398
+37%
451
+13%
390
-14%
397
+2%
407
+2%
492
+21%
622
+26%
777
+25%
919
+18%
951
+3%
880
-7%
634
-28%
653
+3%
724
+11%
686
-5%
819
+19%
592
-28%
596
+1%
692
+16%
762
+10%
780
+2%
714
-8%
1 221
+71%
1 089
-11%
962
-12%
878
-9%
346
-61%
539
+56%
726
+35%
896
+23%
Investing Cash Flow
Capital Expenditures
(17)
(24)
(35)
(35)
(36)
(43)
(16)
(51)
(62)
(58)
(74)
(42)
(47)
(64)
(81)
(95)
(109)
(111)
(115)
(141)
(150)
(233)
(297)
(324)
(376)
(353)
(322)
(312)
(274)
(250)
(265)
(290)
(322)
(341)
(356)
(388)
(415)
(455)
(482)
(426)
(381)
(306)
(239)
(272)
(259)
(249)
(253)
(261)
(316)
(358)
(373)
(353)
(296)
(272)
(278)
(302)
(321)
(398)
(397)
(398)
(434)
(507)
(656)
(811)
(936)
(950)
(942)
(918)
(867)
(891)
(933)
(863)
Other Items
(5)
(11)
(4)
(34)
(35)
(11)
(46)
15
18
(2)
62
32
32
33
(2)
17
18
6
2
(7)
19
79
78
71
51
3
40
22
11
11
(20)
(5)
(5)
(5)
(5)
(4)
1
8
8
79
79
40
31
(2)
(2)
(6)
(12)
(6)
(5)
41
55
15
12
(8)
(6)
16
17
25
45
9
(8)
7
(23)
(34)
(17)
80
143
155
148
44
(28)
(30)
Cash from Investing Activities
(22)
N/A
(35)
-57%
(39)
-11%
(69)
-78%
(71)
-2%
(53)
+25%
(62)
-17%
(36)
+42%
(45)
-24%
(60)
-33%
(12)
+80%
(10)
+18%
(15)
-46%
(31)
-112%
(83)
-169%
(78)
+6%
(91)
-17%
(105)
-15%
(113)
-8%
(148)
-30%
(132)
+11%
(154)
-17%
(219)
-43%
(253)
-15%
(325)
-29%
(350)
-8%
(283)
+19%
(290)
-3%
(263)
+9%
(239)
+9%
(285)
-19%
(295)
-4%
(327)
-11%
(346)
-6%
(362)
-5%
(392)
-8%
(414)
-6%
(446)
-8%
(474)
-6%
(347)
+27%
(302)
+13%
(266)
+12%
(207)
+22%
(274)
-32%
(261)
+5%
(255)
+2%
(265)
-4%
(267)
-1%
(321)
-20%
(318)
+1%
(318)
0%
(338)
-6%
(285)
+16%
(281)
+1%
(283)
-1%
(286)
-1%
(305)
-6%
(374)
-23%
(353)
+6%
(389)
-10%
(442)
-14%
(499)
-13%
(679)
-36%
(845)
-25%
(954)
-13%
(870)
+9%
(798)
+8%
(763)
+4%
(718)
+6%
(847)
-18%
(961)
-14%
(893)
+7%
Financing Cash Flow
Net Issuance of Common Stock
115
115
105
0
0
0
25
25
55
58
35
57
29
30
29
8
11
10
8
9
6
3
9
8
8
7
3
3
2
2
1
1
0
7
62
84
102
101
47
27
13
13
17
23
39
41
71
73
68
72
52
46
31
21
7
6
10
17
16
14
13
8
14
13
11
9
3
13
14
17
35
70
Net Issuance of Debt
0
0
(0)
0
0
0
0
14
19
20
(0)
(15)
(19)
(20)
0
0
0
0
0
0
19
28
271
281
272
280
84
72
65
65
41
91
38
29
(20)
(22)
52
101
208
197
120
7
93
(204)
(155)
(136)
(385)
(229)
(263)
19
(331)
(191)
(162)
(414)
9
(31)
(31)
(30)
(24)
(28)
(25)
(23)
(25)
131
(19)
(18)
181
240
441
436
438
177
Cash Paid for Dividends
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(10)
(21)
(21)
(84)
(115)
(147)
(189)
(168)
(168)
(169)
(169)
(170)
(171)
(171)
(181)
(183)
(187)
(190)
(184)
(185)
(185)
(165)
(145)
(124)
(103)
Other
0
0
0
0
0
0
0
(1)
(1)
(2)
(2)
(1)
(1)
(1)
(0)
(0)
(0)
(0)
(0)
(0)
(1)
4
6
1
(7)
(14)
(22)
(19)
(13)
(16)
(12)
(16)
(17)
(20)
(22)
(21)
(25)
(26)
(26)
(30)
(32)
(37)
(40)
(39)
(37)
(30)
(30)
(21)
(16)
(13)
(20)
(19)
(20)
(24)
(38)
(42)
(44)
(39)
(35)
(27)
(25)
(135)
(128)
(149)
(154)
(44)
(35)
(138)
(146)
(154)
(159)
(85)
Cash from Financing Activities
116
N/A
116
N/A
105
-9%
0
N/A
0
N/A
0
N/A
25
N/A
39
+55%
72
+87%
76
+5%
33
-56%
42
+26%
9
-79%
10
+7%
29
+207%
8
-74%
10
+37%
10
-5%
8
-20%
8
+6%
24
+190%
35
+42%
286
+727%
290
+1%
272
-6%
274
+0%
64
-76%
56
-13%
54
-4%
51
-7%
30
-40%
75
+150%
21
-72%
16
-24%
21
+31%
41
+94%
129
+220%
176
+36%
230
+31%
193
-16%
102
-47%
(17)
N/A
70
N/A
(221)
N/A
(153)
+31%
(125)
+18%
(345)
-177%
(188)
+45%
(232)
-23%
58
N/A
(381)
N/A
(279)
+27%
(299)
-7%
(607)
-103%
(191)
+69%
(234)
-23%
(233)
+0%
(221)
+5%
(213)
+3%
(211)
+1%
(208)
+2%
(331)
-59%
(323)
+3%
(193)
+40%
(351)
-82%
(236)
+33%
(35)
+85%
(69)
-98%
146
N/A
156
+7%
190
+22%
59
-69%
Change in Cash
Effect of Foreign Exchange Rates
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
(1)
(1)
(4)
(4)
(4)
(6)
(3)
(1)
(2)
(0)
(1)
(2)
(1)
(1)
2
2
0
0
(2)
(3)
(0)
(1)
1
(3)
(3)
(0)
5
8
8
2
(10)
(11)
(20)
(23)
(17)
(17)
(13)
(18)
(22)
(22)
(22)
(7)
(15)
(10)
(6)
(19)
(18)
Net Change in Cash
88
N/A
74
-16%
59
-20%
(86)
N/A
(86)
0%
(71)
+17%
(52)
+27%
(10)
+80%
18
N/A
10
-46%
29
+200%
67
+131%
55
-18%
65
+17%
35
-46%
32
-9%
21
-35%
(2)
N/A
(0)
+75%
(34)
-8 475%
23
N/A
18
-20%
211
+1 050%
185
-12%
63
-66%
39
-38%
(105)
N/A
(120)
-15%
(55)
+54%
(25)
+55%
(92)
-270%
(47)
+49%
(19)
+59%
(10)
+48%
37
N/A
60
+62%
(6)
N/A
(12)
-98%
(34)
-196%
3
N/A
65
+2 211%
8
-88%
261
+3 245%
(45)
N/A
(26)
+41%
18
N/A
(204)
N/A
38
N/A
66
+75%
514
+675%
219
-57%
339
+55%
305
-10%
(246)
N/A
181
N/A
193
+7%
136
-30%
205
+50%
3
-99%
(21)
N/A
25
N/A
(80)
N/A
(240)
-198%
(345)
-44%
(106)
+69%
(40)
+63%
122
N/A
30
-75%
(237)
N/A
(157)
+34%
(63)
+60%
43
N/A
Free Cash Flow
Free Cash Flow
(23)
N/A
(31)
-36%
(42)
-36%
(52)
-23%
(51)
+1%
(61)
-19%
(31)
+49%
(64)
-107%
(72)
-13%
(64)
+11%
(66)
-2%
(7)
+89%
14
N/A
22
+56%
8
-65%
8
N/A
(7)
N/A
(17)
-134%
(10)
+39%
(36)
-245%
(20)
+43%
(95)
-369%
(153)
-61%
(176)
-15%
(260)
-48%
(237)
+9%
(208)
+12%
(195)
+6%
(116)
+40%
(82)
+29%
(97)
-18%
(114)
-18%
(34)
+71%
(19)
+44%
22
N/A
24
+10%
(135)
N/A
(194)
-44%
(270)
-39%
(271)
0%
(119)
+56%
(16)
+86%
159
N/A
179
+12%
131
-27%
148
+13%
154
+4%
231
+50%
306
+33%
419
+37%
546
+30%
598
+10%
584
-2%
362
-38%
376
+4%
422
+12%
364
-14%
421
+16%
194
-54%
198
+2%
259
+31%
256
-1%
124
-52%
(96)
N/A
285
N/A
138
-51%
21
-85%
(41)
N/A
(521)
-1 177%
(352)
+32%
(207)
+41%
33
N/A

See Also

Summary
BTO intrinsic value, competitors valuation, and company profile.
DCF Valuation
BTO stock valuation using Discount Cash Flow valuation method.
Relative Valuation
BTO stock valuation using valuation multiples.
Wall Street Estimates
BTO price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
BTO stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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