B2Gold (BTG) Invested Capital (2012 - 2026)
B2Gold's Invested Capital was $4.46 billion in Q2 2026, up 18.7% from $3.76 billion a year earlier and up 5.4% from the prior quarter.
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Analysis
B2Gold (BTG) Invested Capital (2012 - 2026) Analysis & Trends
For FY2025, Invested Capital at B2Gold came in at $4.19 billion, up 22.5% from FY2024.
- Invested Capital shows a five-year compound annual growth rate of 9.3% (FY2020 to FY2025).
- In earlier years, Invested Capital was $3.42 billion in FY2024 (-14.5%), $4 billion in FY2023 (+30.6%), $3.07 billion in FY2022 (+4.4%) and $2.94 billion in FY2021 (+9.4%).
- The Q2 2026 figure marks the highest quarterly Invested Capital since Q1 2020.
- Compared with a year earlier, Invested Capital has increased for four straight quarters, with growth averaging 4.0% over the last eight quarters.
- The best year-over-year quarter for Invested Capital over five years was Q2 2023 (growth of 36.9%); the worst was Q3 2024 (a decline of 16.7%).
- Per Business Quant data, BTG's Invested Capital in the three quarters before Q2 2026 was $4.23 billion (Q1 2026), $4.19 billion (Q4 2025) and $4.01 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Nucor | 175.24 Bn | 165.01 Bn | 2.33 Bn | 29.90 Bn |
| 2 | Rio Tinto | 166.15 Bn | 128.95 Bn | - | 93.52 Bn |
| 3 | Southern Copper | 143.83 Bn | 118.64 Bn | 3.10 Bn | 21.59 Bn |
| 4 | Rio Tinto | 137.31 Bn | 104.37 Bn | - | 93.52 Bn |
| 5 | Newmont | 124.66 Bn | 89.98 Bn | 4.22 Bn | 40.94 Bn |
| 6 | Ternium | 102.52 Bn | 75.29 Bn | 1.04 Bn | 20.73 Bn |
| 7 | Agnico Eagle Mines | 95.19 Bn | 82.13 Bn | 2.15 Bn | 29.81 Bn |
| 8 | Freeport-Mcmoran | 86.53 Bn | 83.18 Bn | 2.55 Bn | 43.01 Bn |
| 9 | Barrick Mining | 66.50 Bn | 50.91 Bn | 2.71 Bn | 42.04 Bn |
| 10 | B2Gold | 7.09 Bn | 5.69 Bn | 365.95 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.46 Bn |
| Mar 31, 2026 | 4.23 Bn |
| Dec 31, 2025 | 4.19 Bn |
| Sep 30, 2025 | 4.01 Bn |
| Jun 30, 2025 | 3.76 Bn |
| Mar 31, 2025 | 3.60 Bn |
| Dec 31, 2024 | 3.42 Bn |
| Sep 30, 2024 | 3.43 Bn |
| Jun 30, 2024 | 3.89 Bn |
| Mar 31, 2024 | 3.98 Bn |
| Dec 31, 2023 | 4.00 Bn |
| Sep 30, 2023 | 4.12 Bn |
| Jun 30, 2023 | 4.19 Bn |
| Mar 31, 2023 | 3.21 Bn |
| Dec 31, 2022 | 3.07 Bn |
| Sep 30, 2022 | 3.03 Bn |
| Jun 30, 2022 | 3.06 Bn |
| Mar 31, 2022 | 3.09 Bn |
| Dec 31, 2021 | 2.94 Bn |
| Sep 30, 2021 | 3.49 Bn |
API Access
B2Gold Invested Capital API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=invested-capital&ticker=BTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "BTG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=BTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();