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B2Gold Valuation Multiples
Discover revenue and EBITDA valuation multiples for B2Gold and similar public comparables like Commercial Metals, Mineral Resources, Artemis Gold, Capstone Copper and more.
B2Gold Overview
About B2Gold
B2Gold Corp is an international, low-cost, senior gold mining company. It has three operating open-pit gold mines in Mali, Namibia, and the Philippines and numerous exploration projects across four continents. Other assets include the Gramalote gold projects. The company focuses on acquiring and developing interests in mineral properties with a primary focus on gold deposits as gold production forms all its revenue. The company's reportable operating segments include its mining operations and development projects, namely Fekola; Masbate; Otjikoto; the Goose Project, and other mineral properties; and corporate and other.
Founded
2006
HQ
Employees
6.5K
Website
Sectors
Financials (LTM)
EV
$8B
B2Gold Financials
B2Gold reported last 12-month revenue of $3B and EBITDA of $2B.
In the same LTM period, B2Gold generated $2B in gross profit, $2B in EBITDA, and $511M in net income.
Revenue (LTM)
B2Gold P&L
In the most recent fiscal year, B2Gold reported revenue of $3B and EBITDA of $2B.
B2Gold expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $3B | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | $2B | XXX | $2B | XXX | XXX | XXX |
| Gross Margin | 69% | XXX | 50% | XXX | XXX | XXX |
| EBITDA | $2B | XXX | $2B | XXX | XXX | XXX |
| EBITDA Margin | 58% | XXX | 57% | XXX | XXX | XXX |
| EBIT Margin | 38% | XXX | 46% | XXX | XXX | XXX |
| Net Profit | $511M | XXX | $402M | XXX | XXX | XXX |
| Net Margin | 16% | XXX | 13% | XXX | XXX | XXX |
| Net Debt | — | — | $166M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
B2Gold Stock Performance
B2Gold has current market cap of $8B, and enterprise value of $8B.
Market Cap Evolution
B2Gold's stock price is $6.00.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $8B | $8B | 0.0% | XXX | XXX | XXX | $0.30 |
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Start Free TrialB2Gold Valuation Multiples
B2Gold trades at 2.5x EV/Revenue multiple, and 4.4x EV/EBITDA.
EV / Revenue (LTM)
B2Gold Financial Valuation Multiples
As of March 11, 2026, B2Gold has market cap of $8B and EV of $8B.
Equity research analysts estimate B2Gold's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
B2Gold has a P/E ratio of 15.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $8B | XXX | $8B | XXX | XXX | XXX |
| EV (current) | $8B | XXX | $8B | XXX | XXX | XXX |
| EV/Revenue | 2.5x | XXX | 2.7x | XXX | XXX | XXX |
| EV/EBITDA | 4.4x | XXX | 4.7x | XXX | XXX | XXX |
| EV/EBIT | 6.6x | XXX | 5.9x | XXX | XXX | XXX |
| EV/Gross Profit | 3.6x | XXX | 5.4x | XXX | XXX | XXX |
| P/E | 15.7x | XXX | 20.0x | XXX | XXX | XXX |
| EV/FCF | 40.3x | XXX | 9.2x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified B2Gold Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
B2Gold Margins & Growth Rates
B2Gold's revenue in the last 12 month grew by 33%.
B2Gold's revenue per employee in the last FY averaged $0.5M.
B2Gold's rule of 40 is 90% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
B2Gold's rule of X is 140% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
B2Gold Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 33% | XXX | 35% | XXX | XXX | XXX |
| EBITDA Margin | 58% | XXX | 57% | XXX | XXX | XXX |
| EBITDA Growth | 39% | XXX | 38% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 90% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 140% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 2% | XXX | 3% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 4% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
B2Gold Public Comps
See public comps and valuation multiples for other Metals & Mining comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Commercial Metals | XXX | XXX | XXX | XXX | XXX | XXX |
| Mineral Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| Artemis Gold | XXX | XXX | XXX | XXX | XXX | XXX |
| Capstone Copper | XXX | XXX | XXX | XXX | XXX | XXX |
| SSAB AB (publ) | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
B2Gold M&A Activity
B2Gold acquired XXX companies to date.
Last acquisition by B2Gold was on XXXXXXXX, XXXXX. B2Gold acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by B2Gold
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
Get Verified M&A Valuation Multiples
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Start Free TrialB2Gold Investment Activity
B2Gold invested in XXX companies to date.
B2Gold made its latest investment on XXXXXXXX, XXXXX. B2Gold invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by B2Gold
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout B2Gold
| When was B2Gold founded? | B2Gold was founded in 2006. |
| Where is B2Gold headquartered? | B2Gold is headquartered in Canada. |
| How many employees does B2Gold have? | As of today, B2Gold has over 6K employees. |
| Who is the CEO of B2Gold? | B2Gold's CEO is Clive T. Johnson. |
| Is B2Gold publicly listed? | Yes, B2Gold is a public company listed on NYSE American. |
| What is the stock symbol of B2Gold? | B2Gold trades under BTG ticker. |
| When did B2Gold go public? | B2Gold went public in 2008. |
| Who are competitors of B2Gold? | B2Gold main competitors are Commercial Metals, Mineral Resources, Artemis Gold, Capstone Copper. |
| What is the current market cap of B2Gold? | B2Gold's current market cap is $8B. |
| What is the current revenue of B2Gold? | B2Gold's last 12 months revenue is $3B. |
| What is the current revenue growth of B2Gold? | B2Gold revenue growth (NTM/LTM) is 33%. |
| What is the current EV/Revenue multiple of B2Gold? | Current revenue multiple of B2Gold is 2.5x. |
| Is B2Gold profitable? | Yes, B2Gold is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of B2Gold? | B2Gold's last 12 months EBITDA is $2B. |
| What is B2Gold's EBITDA margin? | B2Gold's last 12 months EBITDA margin is 58%. |
| What is the current EV/EBITDA multiple of B2Gold? | Current EBITDA multiple of B2Gold is 4.4x. |
| What is the current FCF of B2Gold? | B2Gold's last 12 months FCF is $204M. |
| What is B2Gold's FCF margin? | B2Gold's last 12 months FCF margin is 6%. |
| What is the current EV/FCF multiple of B2Gold? | Current FCF multiple of B2Gold is 40.3x. |
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