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B2GoldTSX:BTO +0.19%91 Forward PE Ratio is 5.31 as of Jul. 16, 2026. GuruFocus rates TSX:BTO with a GF Score™ of 91/100 and a GF Value™ of C$7.25 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 487 Metals & Mining companies, B2Gold ranks better than 78.44% on this metric.
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
B2Gold Forward PE Ratio Related Terms
B2Gold Forward PE Ratio Historical Data
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The historical data trend for B2Gold's Forward PE Ratio 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.
B2Gold Forward PE Ratio Chart
B2Gold Annual Data
Trend
2015-12
2016-12
2017-12
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
28.09
28.17
14.45
22.57
10.06
10.91
8.74
10.79
10.95
5.81
6.21
B2Gold Quarterly Data
2015-12
2016-03
2016-06
2016-09
2016-12
2017-03
2017-06
2017-09
2017-12
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
28.09
67.57
37.31
23.87
28.17
94.34
54.95
14.01
14.45
13.32
12.99
10.25
22.57
16.45
18.69
10.45
10.06
8.35
12.25
12.89
10.91
10.17
9.62
7.63
8.74
13.68
9.44
9.53
10.79
13.68
12.25
9.44
10.95
11.92
9.56
7.79
5.81
7.13
6.98
8.50
6.21
5.39
TSX:BTO vs NEM, AU: Forward PE Ratio Comparison
For the Gold subindustry, B2Gold's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio 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 Forward PE Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, B2Gold's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where B2Gold's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
B2Gold (TSX:BTO) has a Forward PE Ratio of 5.31 as of Jul. 16, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on B2Gold and its competitors. According to the industry distribution chart, B2Gold ranks #105 out of 487 companies in the Metals & Mining industry, placing it in the top 21.6%.
Is B2Gold's Forward PE Ratio too high?
B2Gold's current Forward PE Ratio is 5.31. The Metals & Mining industry median Forward PE Ratio is 10.96. B2Gold's value of 5.31 is 51.6% below this industry median. Based on the distribution chart, B2Gold ranks #105 out of 487 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 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does B2Gold's Forward PE Ratio compare to NEM and AU?
According to the Metals & Mining industry distribution chart, B2Gold ranks #105 out of 487 companies for Forward PE Ratio. This places B2Gold in the top 22% of its industry — outperforming the majority of peers. The industry median Forward PE Ratio is 10.96. B2Gold's value of 5.31 is 51.6% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for a Metals & Mining company?
The median Forward PE Ratio among Metals & Mining companies is 10.96, based on 487 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. B2Gold's current Forward PE Ratio of 5.31 is 51.6% below 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 Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on B2Gold and its competitors. For the Metals & Mining industry, the median Forward PE Ratio is 10.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. B2Gold's current Forward PE Ratio is 5.31. 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$7.25, compared to a current price of C$5.34 — trading 26.3% below its estimated fair value. The current Forward PE Ratio is 5.31 and 51.6% below the Metals & Mining industry median of 10.96. B2Gold's overall GF Score™ is 91/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For B2Gold (TSX:BTO), the current Forward PE Ratio is 5.31 as of Jul. 16, 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$5.34 is trading 26.3% below its estimated GF Value™ of C$7.25.
GuruFocus considers B2Gold to be Modestly Undervalued.
Key valuation signals for TSX:BTO:
Forward PE Ratio: 5.31
GF Value™: C$7.25 vs. price of C$5.34 (26.3% below fair value)
Industry Position: 51.6% below the Metals & Mining median (#105 of 487)
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.
91GF Score
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