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B2GoldBTG +4.10%90 Return-on-Tangible-Asset is 28.46% as of Jun. 2026, which is 504% above its 10-year median of 4.71. 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 2,677 Metals & Mining companies, B2Gold ranks better than 90.74% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. B2Gold's annualizedNet Income for the quarter that ended in Jun. 2026 was $1,667 Mil. B2Gold's average total tangible assets for the quarter that ended in Jun. 2026 was $0 Mil. Therefore, B2Gold's annualized Return-on-Tangible-Asset for the quarter that ended in Jun. 2026 was 28.46%.
The historical rank and industry rank for B2Gold's Return-on-Tangible-Asset or its related term are showing as below:
BTG'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -13.4 Med: 4.71 Max: 20.52
Current: 14.21
During the past 13 years, B2Gold's highest Return-on-Tangible-Asset was 20.52%. The lowest was -13.40%. And the median was 4.71%.
BTG's Return-on-Tangible-Asset is ranked better than 90.74% of 2677
companies
in the Metals & Mining industry
Industry Median: -17.08
vs BTG: 14.21
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
B2Gold Return-on-Tangible-Asset Related Terms
B2Gold Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for B2Gold's Return-on-Tangible-Asset 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.
BTG vs NEM, AU: Return-on-Tangible-Asset Comparison
For the Gold subindustry, B2Gold's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, B2Gold's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where B2Gold's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Jun. 2026) net income data.
What does a Return-on-Tangible-Asset of 28.46% mean?
B2Gold (BTG) has a Return-on-Tangible-Asset of 28.46% as of Jun. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on B2Gold and its competitors. This is 504% above median its historical median of 4.71. According to the industry distribution chart, B2Gold ranks #248 out of 2677 companies in the Metals & Mining industry, placing it in the top 9.3%.
Is B2Gold's Return-on-Tangible-Asset too high?
B2Gold's current Return-on-Tangible-Asset of 28.46% is 504% above median its 10-year median of 4.71. Based on the distribution chart, B2Gold ranks #248 out of 2677 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 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does B2Gold's Return-on-Tangible-Asset compare to NEM and AU?
According to the Metals & Mining industry distribution chart, B2Gold ranks #248 out of 2677 companies for Return-on-Tangible-Asset. This places B2Gold in the top 9% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Metals & Mining company?
A good Return-on-Tangible-Asset depends on the Metals & Mining industry context. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on B2Gold and its competitors. B2Gold's current Return-on-Tangible-Asset is 28.46%, which is 504% above median its own 10-year median of 4.71. 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 Return-on-Tangible-Asset is 28.46%, which is 504% above median its 10-year median of 4.71. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For B2Gold (BTG), the current Return-on-Tangible-Asset is 28.46% 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:
Return-on-Tangible-Asset: 28.46% (504% above median its 10-year median of 4.71)
GF Value™: $4.89 vs. price of $5.58 (14.1% above fair value)
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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