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B2GoldTSX:BTO -0.89%84 Net Cash per Share is C$-1.58 as of Jun. 2026. GuruFocus rates TSX:BTO with a GF Score™ of 84/100 and a GF Value™ of C$7.06 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,087 Metals & Mining companies, B2Gold ranks worse than 91996.23% on this metric.
The historical rank and industry rank for B2Gold's Net Cash per Share or its related term are showing as below:
TSX:BTO's Price-to-Net-Cash is not ranked *
in the Metals & Mining industry.
Industry Median: 7.5 * Ranked among companies with meaningful Price-to-Net-Cash only.
Ben Graham invested in situations where the company's stock price was lower than its net-cash. He assigned some value to the company's other current asset. The value is called Net Current Asset Value (NCAV). One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
You can find companies that are traded below their Net Current Asset Value (NCAV) with our Net-Net screener.
B2Gold Net Cash per Share Related Terms
B2Gold Net Cash per Share Historical Data
* Premium members only.
The historical data trend for B2Gold's Net Cash per Share 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 Price-to-Net-Cash, along with its competitors' market caps and Price-to-Net-Cash 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 Price-to-Net-Cash vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, B2Gold's Price-to-Net-Cash distribution charts can be found below:
* The bar in red indicates where B2Gold's Price-to-Net-Cash falls into.
In the calculation of a company's Net Cash per Share, assets other than cash and short term investments are considered to be worth nothing. But the company has to pay its debt and other liabilities in full. This is an extremely conservative way of valuation. Most companies have negative Net Cash per Share. But sometimes a company's price may be lower than its net-cash.
B2Gold's Net Cash per Share for the fiscal year that ended in Dec. 2025 is calculated as
* 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 Net Cash per Share of C$-1.58 as of Jun. 2026. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on B2Gold and its competitors. According to the industry distribution chart, B2Gold ranks #999999 out of 1087 companies in the Metals & Mining industry.
Is B2Gold's Net Cash per Share too high?
B2Gold's current Net Cash per Share is C$-1.58. Based on the distribution chart, B2Gold ranks #999999 out of 1087 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, B2Gold has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does B2Gold's Net Cash per Share compare to NEM and AU?
According to the Metals & Mining industry distribution chart, B2Gold ranks #999999 out of 1087 companies for Net Cash per Share. This places B2Gold in the lower half of its industry. The industry median Net Cash per Share is 7.50. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Cash per Share for a Metals & Mining company?
The median Net Cash per Share among Metals & Mining companies is 7.50, based on 1,087 companies in the industry. Companies in the top quartile (top 25%) have a Net Cash per Share significantly above this median, while those in the bottom quartile fall well below. However, Net Cash per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Cash per Share mean?
A high Net Cash per Share can signal that a stock is expensive relative to its fundamentals. Net cash per share equals the per-share value of cash and equivalents less total liabilities and minority interest. View historical data on B2Gold and its competitors. For the Metals & Mining industry, the median Net Cash per Share is 7.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. B2Gold's current Net Cash per Share is C$-1.58. 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 Fairly Valued. The stock's GF Value™ is C$7.06, compared to a current price of C$7.76 — trading 9.9% above its estimated fair value. The current Net Cash per Share is C$-1.58. B2Gold's overall GF Score™ is 84/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Cash per Share calculated?
Net Cash per Share is calculated from a company's financial statements. For B2Gold (TSX:BTO), the current Net Cash per Share is C$-1.58 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 (TSX:BTO) Overvalued in 2026?
Based on GuruFocus' analysis, B2Gold stock appears to be overvalued.
The current stock price of C$7.76 is trading 9.9% above its estimated GF Value™ of C$7.06.
GuruFocus considers B2Gold to be Fairly Valued.
Key valuation signals for TSX:BTO:
Net Cash per Share: C$-1.58
GF Value™: C$7.06 vs. price of C$7.76 (9.9% above 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.
84GF Score
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