Valuation
26% of the score
100median 56
B2Gold Corp. is valued at 4x its operating profit, including debt: cheap enough for full points.
60x
50x
35x
25x
18x
12x
8x
4x
Full points at 8x or less, none from 60xfull points
BTGB2Gold Corp.
$5.27+24% 1Y
$5.27
$3.6552 weeks$6.16
RyuScore
Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
RyuScore 57 out of 100, Average
Today's price. Only valuation depends on it.
Average. B2Gold Corp. scores higher than 50% of the 1,794 companies Ryufin scores.
Carried by valuation and return on capital, held back by return on new capital and cycle position.
Basic Materials median 59 · all companies 57
Return on capital
18% of the score
65median 34
Over 7 years the business earned 12% a year after tax on the capital it uses.
2%
8%
15%
25%
12%
None at 2% or less, full points from 25%full points
7 years agolatest 21%
Return on new capital
16% of the score
0median 49
Over 6 years yearly profit fell by 15 cents for every dollar earned. New capital earned -16%, and 93% of profit went back into the business.
-5%
12%
-15%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
40median 67
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countUp 7% a year over 5 years: new shares
05%
-3%
7%
0 pointsfull points
Assets against salesAssets grew 13% a year, sales 43%
10012%
-2%
-30%
0 pointsfull points
Cycle position
12% of the score
0median 62
Today's operating margin of 11104% is 3.09x its normal 3591%: near a peak, where margins tend to fall back. Normal is half the 5 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
3.1x
A trough earns points, a peak costs themfull points
10 years agonow 11104%
Balance sheet
8% of the score
100median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA0.1x a year of EBITDA
1004.5x
0.5x
0.1x
0 pointsfull points
Interest coverOperating profit covers interest 198x
1001.5x
12x
197.5x
0 pointsfull points
Earnings quality
6% of the score
100median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
AccrualsCash ran ahead of profit by 9.2% of assets
1008%
0%
-8%
-9.2%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2025-12-31, latest annual report FY2025.