B2GoldTSX:BTO -3.67%89 EBITDA Margin % is 44.91% as of Mar. 2026, which is 10% below its 10-year median of 49.74. GuruFocus rates TSX:BTO with a GF Score™ of 89/100 and a GF Value™ of C$7.21 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 841 Metals & Mining companies, B2Gold ranks better than 80.26% on this metric.
EBITDA Margin % is calculated as EBITDA divided by its Revenue. B2Gold's EBITDA for the
three
months ended in Mar. 2026 was C$714 Mil. B2Gold's Revenue for the
three
months ended in Mar. 2026 was C$1,590 Mil. Therefore, B2Gold's EBITDA margin for the quarter that ended in Mar. 2026 was 44.91%.
B2Gold (TSX:BTO) EBITDA Margin % Explanation
EBITDA Margin % is the ratio of EBITDA divided by net sales or Revenue. It is an performance metric measuring company's operating profitability. EBITDA Margin takes depreciation and amortization, interest expense and tax into account, which makes it easy to compare the relative profitability of companies of different sizes in the same industry.
B2Gold EBITDA Margin % Related Terms
B2Gold EBITDA Margin % Historical Data
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The historical data trend for B2Gold's EBITDA Margin % 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.
For the Gold subindustry, B2Gold's EBITDA Margin %, along with its competitors' market caps and EBITDA Margin % 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 EBITDA Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, B2Gold's EBITDA Margin % distribution charts can be found below:
* The bar in red indicates where B2Gold's EBITDA Margin % falls into.
* 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.
B2Gold (TSX:BTO) has a EBITDA Margin % of 44.91% as of Mar. 2026. EBITDA Margin is the ratio of EBITDA divided by net sales or Revenue, usually presented in percent. View historical data on B2Gold and its competitors. This is 10% below median its historical median of 49.74. Over the past decade, B2Gold's EBITDA Margin % has ranged from 4.89 to 75.56. According to the industry distribution chart, B2Gold ranks #166 out of 841 companies in the Metals & Mining industry, placing it in the top 19.7%.
Is B2Gold's EBITDA Margin % too high?
B2Gold's current EBITDA Margin % of 44.91% is 10% below median its 10-year median of 49.74. Over the past 10 years, this metric has ranged from a low of 4.89 to a high of 75.56. The Metals & Mining industry median EBITDA Margin % is 8.89. B2Gold's value of 44.91% is 405.2% above this industry median. Based on the distribution chart, B2Gold ranks #166 out of 841 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 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does B2Gold's EBITDA Margin % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, B2Gold ranks #166 out of 841 companies for EBITDA Margin %. This places B2Gold in the top 20% of its industry — outperforming the majority of peers. The industry median EBITDA Margin % is 8.89. B2Gold's value of 44.91% is 405.2% above this benchmark. Historically, B2Gold's own EBITDA Margin % has ranged from 4.89 to 75.56 over the past decade. While the company's 10-year median is 49.74 vs. the industry median of 8.89, B2Gold has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBITDA Margin % for a Metals & Mining company?
The median EBITDA Margin % among Metals & Mining companies is 8.89, based on 841 companies in the industry. Companies in the top quartile (top 25%) have a EBITDA Margin % significantly above this median, while those in the bottom quartile fall well below. However, EBITDA Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. B2Gold's current EBITDA Margin % of 44.91% is 405.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBITDA Margin % mean?
A high EBITDA Margin % can signal that a stock is expensive relative to its fundamentals. EBITDA Margin is the ratio of EBITDA divided by net sales or Revenue, usually presented in percent. View historical data on B2Gold and its competitors. For the Metals & Mining industry, the median EBITDA Margin % is 8.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. B2Gold's current EBITDA Margin % is 44.91%, which is 10% below median its own 10-year median of 49.74. 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$7.21, compared to a current price of C$5.51 — trading 23.6% below its estimated fair value. The current EBITDA Margin % is 44.91%, which is 10% below median its 10-year median of 49.74 and 405.2% above the Metals & Mining industry median of 8.89. B2Gold's overall GF Score™ is 89/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBITDA Margin % calculated?
EBITDA Margin % is calculated from a company's financial statements. For B2Gold (TSX:BTO), the current EBITDA Margin % is 44.91% 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$5.51 is trading 23.6% below its estimated GF Value™ of C$7.21.
GuruFocus considers B2Gold to be Modestly Undervalued.
Key valuation signals for TSX:BTO:
EBITDA Margin %: 44.91% (10% below median its 10-year median of 49.74)
GF Value™: C$7.21 vs. price of C$5.51 (23.6% below fair value)
Industry Position: 405.2% above the Metals & Mining median (#166 of 841)
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.
89GF Score
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