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B2GoldBTG +4.10%90 Gross Margin % is 39.06% as of Jun. 2026, which is 3% above its 10-year median of 38.06. GuruFocus rates BTG with a GF Score™ of 90/100 and a GF Value™ of $4.89 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 740 Metals & Mining companies, B2Gold ranks better than 69.73% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. B2Gold's Gross Profit for the
three
months ended in Jun. 2026 was $308 Mil. B2Gold's Revenue for the
three
months ended in Jun. 2026 was $789 Mil. Therefore, B2Gold's Gross Margin % for the quarter that ended in Jun. 2026 was 39.06%.
Warning Sign:
B2Gold Corp gross margin has been in long-term decline. The average rate of decline per year is -1.9%.
The historical rank and industry rank for B2Gold's Gross Margin % or its related term are showing as below:
BTG'
s Gross Margin % Range Over the Past 10 Years
Min: 23.53 Med: 38.06 Max: 53.57
Current: 49.09
During the past 13 years, the highestGross Margin % of B2Gold was 53.57%. The lowest was 23.53%. And the median was 38.06%.
BTG's Gross Margin % is ranked better than 69.73% of 740
companies
in the Metals & Mining industry
Industry Median: 28.445
vs BTG: 49.09
B2Gold had a gross margin of 39.06% for the quarter that ended in Jun. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for B2Gold was -1.90% per year.
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
B2Gold had a gross margin of 39.06% for the quarter that ended in Jun. 2026 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
B2Gold Gross Margin % Related Terms
B2Gold Gross Margin % Historical Data
* Premium members only.
The historical data trend for B2Gold's Gross 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 Gross Margin %, along with its competitors' market caps and Gross 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 Gross Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, B2Gold's Gross Margin % distribution charts can be found below:
* The bar in red indicates where B2Gold's Gross 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
B2Gold (BTG) has a Gross Margin % of 39.06% as of Jun. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on B2Gold and its competitors. This is near median its historical median of 38.06. Over the past decade, B2Gold's Gross Margin % has ranged from 23.53 to 53.57. According to the industry distribution chart, B2Gold ranks #224 out of 740 companies in the Metals & Mining industry, placing it in the top 30.3%.
Is B2Gold's Gross Margin % too high?
B2Gold's current Gross Margin % of 39.06% is near median its 10-year median of 38.06. Over the past 10 years, this metric has ranged from a low of 23.53 to a high of 53.57. The Metals & Mining industry median Gross Margin % is 28.45. B2Gold's value of 39.06% is 37.3% above this industry median. Based on the distribution chart, B2Gold ranks #224 out of 740 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, B2Gold has a GF Score™ of 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does B2Gold's Gross Margin % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, B2Gold ranks #224 out of 740 companies for Gross Margin %. This puts B2Gold in the upper half of its industry. The industry median Gross Margin % is 28.45. B2Gold's value of 39.06% is 37.3% above this benchmark. Historically, B2Gold's own Gross Margin % has ranged from 23.53 to 53.57 over the past decade. While the company's 10-year median is 38.06 vs. the industry median of 28.45, 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 Gross Margin % for a Metals & Mining company?
The median Gross Margin % among Metals & Mining companies is 28.45, based on 740 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. B2Gold's current Gross Margin % of 39.06% is 37.3% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on B2Gold and its competitors. For the Metals & Mining industry, the median Gross Margin % is 28.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. B2Gold's current Gross Margin % is 39.06%, which is near median its own 10-year median of 38.06. 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 (BTG) is currently considered Modestly Overvalued. The stock's GF Value™ is $4.89, compared to a current price of $5.58 — trading 14.1% above its estimated fair value. The current Gross Margin % is 39.06%, which is near median its 10-year median of 38.06 and 37.3% above the Metals & Mining industry median of 28.45. B2Gold's overall GF Score™ is 90/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For B2Gold (BTG), the current Gross Margin % is 39.06% as of Jun. 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 (BTG) Overvalued in 2026?
Based on GuruFocus' analysis, B2Gold stock appears to be overvalued.
The current stock price of $5.58 is trading 14.1% above its estimated GF Value™ of $4.89.
GuruFocus considers B2Gold to be Modestly Overvalued.
Key valuation signals for BTG:
Gross Margin %: 39.06% (near median its 10-year median of 38.06)
GF Value™: $4.89 vs. price of $5.58 (14.1% above fair value)
Industry Position: 37.3% above the Metals & Mining median (#224 of 740)
No single metric tells the full story. See the BTG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
B2Gold Corp is a Canadian senior gold producer with operating mines in Mali, Namibia, and the Philippines. Its flagship asset is the Fekola mine in Mali, supplemented by the Masbate mine in the Philippines and the Otjikoto mine in Namibia. The company also holds the Goose project in Nunavut, Canada, and the Gramalote project in Colombia, along with exploration properties across several continents. B2Gold generates essentially all of its revenue from the sale of gold doré and concentrate, primarily through open-pit mining operations. Its production is sold into the global gold market, with customers typically being refiners, smelters, and bullion banks. The company focuses on acquiring, exploring, developing, and operating gold deposits, with growth driven by mine expansion and development projects.
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