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B2GoldTSX:BTO +4.93%85 Earnings Yield (Joel Greenblatt) % is 22.47% as of Mar. 2026, which is 132% above its 10-year median of 9.69. GuruFocus rates TSX:BTO with a GF Score™ of 85/100 and a GF Value™ of C$7.36 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 2,667 Metals & Mining companies, B2Gold ranks better than 96.81% on this metric.
B2Gold's Enterprise Value for the quarter that ended in Mar. 2026 was C$8,544 Mil.
B2Gold's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was C$1,919 Mil. B2Gold's Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2026 was 22.47%.
The historical rank and industry rank for B2Gold's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:
TSX:BTO'
s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: -13.01 Med: 9.69 Max: 27.91
Current: 24.69
During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of B2Gold was 27.91%. The lowest was -13.01%. And the median was 9.69%.
TSX:BTO's Earnings Yield (Joel Greenblatt) % is ranked better than 96.81% of 2667
companies
in the Metals & Mining industry
Industry Median: -6.76
vs TSX:BTO: 24.69
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. B2Gold's Forward Rate of Return (Yacktman) % for the quarter that ended in Mar. 2026 was 0.00%. The Forward Rate of Return uses the normalized Free Cash Flow of the past five years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.
Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.
Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.
Be Aware
Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.
B2Gold Earnings Yield (Joel Greenblatt) % Related Terms
B2Gold Earnings Yield (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for B2Gold's Earnings Yield (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TSX:BTO vs NEM, AU: Earnings Yield (Joel Greenblatt) % Comparison
For the Gold subindustry, B2Gold's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
B2Gold Earnings Yield (Joel Greenblatt) % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, B2Gold's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where B2Gold's Earnings Yield (Joel Greenblatt) % falls into.
In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.
B2Golds Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2025 is calculated as
B2Gold's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$1,919 Mil.
What does a Earnings Yield (Joel Greenblatt) % of 22.47% mean?
B2Gold (TSX:BTO) has a Earnings Yield (Joel Greenblatt) % of 22.47% as of Mar. 2026. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on B2Gold and its competitors. This is 132% above median its historical median of 9.69. According to the industry distribution chart, B2Gold ranks #85 out of 2667 companies in the Metals & Mining industry, placing it in the top 3.2%.
Is B2Gold's Earnings Yield (Joel Greenblatt) % too high?
B2Gold's current Earnings Yield (Joel Greenblatt) % of 22.47% is 132% above median its 10-year median of 9.69. Based on the distribution chart, B2Gold ranks #85 out of 2667 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, B2Gold has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does B2Gold's Earnings Yield (Joel Greenblatt) % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, B2Gold ranks #85 out of 2667 companies for Earnings Yield (Joel Greenblatt) %. This places B2Gold in the top 3% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Earnings Yield (Joel Greenblatt) % for a Metals & Mining company?
A good Earnings Yield (Joel Greenblatt) % depends on the Metals & Mining industry context. However, Earnings Yield (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Earnings Yield (Joel Greenblatt) % mean?
A high Earnings Yield (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's earnings yield equals the ratio of earnings before interest and taxes to enterprise value. View historical data on B2Gold and its competitors. B2Gold's current Earnings Yield (Joel Greenblatt) % is 22.47%, which is 132% above median its own 10-year median of 9.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is B2Gold stock overvalued right now?
Based on GuruFocus' analysis, B2Gold (TSX:BTO) is currently considered Modestly Undervalued. The stock's GF Value™ is C$7.36, compared to a current price of C$5.75 — trading 21.9% below its estimated fair value. The current Earnings Yield (Joel Greenblatt) % is 22.47%, which is 132% above median its 10-year median of 9.69. B2Gold's overall GF Score™ is 85/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Earnings Yield (Joel Greenblatt) % calculated?
Earnings Yield (Joel Greenblatt) % is calculated from a company's financial statements. For B2Gold (TSX:BTO), the current Earnings Yield (Joel Greenblatt) % is 22.47% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is B2Gold (TSX:BTO) Overvalued in 2026?
Based on GuruFocus' analysis, B2Gold stock appears to be undervalued.
The current stock price of C$5.75 is trading 21.9% below its estimated GF Value™ of C$7.36.
GuruFocus considers B2Gold to be Modestly Undervalued.
Key valuation signals for TSX:BTO:
Earnings Yield (Joel Greenblatt) %: 22.47% (132% above median its 10-year median of 9.69)
GF Value™: C$7.36 vs. price of C$5.75 (21.9% below fair value)
No single metric tells the full story. See the TSX:BTO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
85GF Score
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Earnings Yield (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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