B2GoldTSX:BTO -3.67%89 OCF Margin % is 46.56% as of Mar. 2026, which is 11% above its 10-year median of 41.83. 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 846 Metals & Mining companies, B2Gold ranks better than 81.44% on this metric.
OCF Margin % is calculated as Cash Flow from Operations divided by its Revenue. B2Gold's Cash Flow from Operations for the
three
months ended in Mar. 2026 was C$740 Mil. B2Gold's Revenue for the
three
months ended in Mar. 2026 was C$1,590 Mil. Therefore, B2Gold's OCF Margin % for the quarter that ended in Mar. 2026 was 46.56%.
The historical rank and industry rank for B2Gold's OCF Margin % or its related term are showing as below:
TSX:BTO'
s OCF Margin % Range Over the Past 10 Years
Min: 24.27 Med: 41.83 Max: 60.27
Current: 33.92
During the past 13 years, the highest OCF Margin % of B2Gold was 60.27%. The lowest was 24.27%. And the median was 41.83%.
TSX:BTO's OCF Margin % is ranked better than 81.44% of 846
companies
in the Metals & Mining industry
Industry Median: 4.465
vs TSX:BTO: 33.92
B2Gold OCF Margin % Related Terms
B2Gold OCF Margin % Historical Data
* Premium members only.
The historical data trend for B2Gold's OCF 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 OCF Margin %, along with its competitors' market caps and OCF 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 OCF Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, B2Gold's OCF Margin % distribution charts can be found below:
* The bar in red indicates where B2Gold's OCF 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 OCF Margin % of 46.56% as of Mar. 2026. OCF Margin is the ratio of Cash Flow from Operations to Total Revenue. View historical data on B2Gold and its competitors. This is 11% above median its historical median of 41.83. Over the past decade, B2Gold's OCF Margin % has ranged from 24.27 to 60.27. According to the industry distribution chart, B2Gold ranks #157 out of 846 companies in the Metals & Mining industry, placing it in the top 18.6%.
Is B2Gold's OCF Margin % too high?
B2Gold's current OCF Margin % of 46.56% is 11% above median its 10-year median of 41.83. Over the past 10 years, this metric has ranged from a low of 24.27 to a high of 60.27. The Metals & Mining industry median OCF Margin % is 4.47. B2Gold's value of 46.56% is 942.8% above this industry median. Based on the distribution chart, B2Gold ranks #157 out of 846 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 OCF Margin % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, B2Gold ranks #157 out of 846 companies for OCF Margin %. This places B2Gold in the top 19% of its industry — outperforming the majority of peers. The industry median OCF Margin % is 4.47. B2Gold's value of 46.56% is 942.8% above this benchmark. Historically, B2Gold's own OCF Margin % has ranged from 24.27 to 60.27 over the past decade. While the company's 10-year median is 41.83 vs. the industry median of 4.47, 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 OCF Margin % for a Metals & Mining company?
The median OCF Margin % among Metals & Mining companies is 4.47, based on 846 companies in the industry. Companies in the top quartile (top 25%) have a OCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, OCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. B2Gold's current OCF Margin % of 46.56% is 942.8% 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 OCF Margin % mean?
A high OCF Margin % can signal that a stock is expensive relative to its fundamentals. OCF Margin is the ratio of Cash Flow from Operations to Total Revenue. View historical data on B2Gold and its competitors. For the Metals & Mining industry, the median OCF Margin % is 4.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. B2Gold's current OCF Margin % is 46.56%, which is 11% above median its own 10-year median of 41.83. 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 OCF Margin % is 46.56%, which is 11% above median its 10-year median of 41.83 and 942.8% above the Metals & Mining industry median of 4.47. 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 OCF Margin % calculated?
OCF Margin % is calculated from a company's financial statements. For B2Gold (TSX:BTO), the current OCF Margin % is 46.56% 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:
OCF Margin %: 46.56% (11% above median its 10-year median of 41.83)
GF Value™: C$7.21 vs. price of C$5.51 (23.6% below fair value)
Industry Position: 942.8% above the Metals & Mining median (#157 of 846)
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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