B2Gold (BTG) Return on Capital Employed (2020 - 2025)

B2Gold (BTG) posted quarterly Return on Capital Employed of 70.28% for Q4 2025, up 7075.0% year-over-year from 0.98% in Q4 2024, and up 14870.01% on a QoQ basis from 0.48% in Q4 2024.

B2Gold (BTG) Return on Capital Employed (2020 - 2025) Analysis & Trends

B2Gold (BTG) has reported Return on Capital Employed for 6 consecutive years, with 70.28% the latest figure, recorded in Q4 2025.

  • In Q4 2025, Return on Capital Employed rose 7075.0% year-over-year to 70.28%; the TTM figure through Dec 2025 stood at 70.28% (up 7075.0% YoY), while the FY2025 annual figure was 32.26%, up 3808.0% from the prior year.
  • Return on Capital Employed came in at 70.28% for Q4 2025 at B2Gold, up from 0.48% in the prior quarter.
  • The five-year high for Return on Capital Employed was 70.28% in Q4 2025, with the low at 0.48% in Q4 2024.
  • Average Return on Capital Employed over 5 years is 34.22%, with a median of 37.55% recorded in 2022.
  • Across the five-year window, Return on Capital Employed plunged 2038 bps in 2023 and jumped 7075 bps in 2025, its largest moves.
  • Year by year, Return on Capital Employed stood at 46.57% in 2021, then slipped by 19 bps to 37.55% in 2022, then tumbled by 54 bps to 17.17% in 2023, then slumped by 103 bps to 0.48% in 2024, then soared by 14870 bps to 70.28% in 2025.
  • According to Business Quant data, Return on Capital Employed over the past three periods registered 70.28%, 0.48%, and 17.17% for Q4 2025, Q4 2024, and Q4 2023 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) ROCE (Qtr)
1 Barrick Mining 978.09 Bn 980.39 Bn 3.12 Bn 9.05%
2 Trx Gold 189.48 Bn 189.48 Bn 21.05 Mn 41.57%
3 Newmont 101.22 Bn 92.61 Bn 7.29 Bn 21.10%
4 OR Royalties 53.18 Bn 53.08 Bn 88.84 Mn -
5 Wheaton Precious Metals 50.59 Bn 48.43 Bn 699.37 Mn -
6 Aura Minerals 50.25 Bn 50.25 Bn 19.58 Mn -
7 Franco Nevada 40.21 Bn 39.50 Bn 526.30 Mn 19.41%
8 Gold Fields 30.19 Bn 28.41 Bn - -
9 Kinross Gold 28.01 Bn 25.95 Bn 1.44 Bn -
10 B2Gold 5.12 Bn 5.16 Bn 609.77 Mn -

Historic Data

Download Data
DateValue
Dec 31, 2025 70.28%
Dec 31, 2024 -0.48%
Dec 31, 2023 17.19%
Dec 31, 2022 30.29%
Dec 31, 2021 46.57%
Dec 31, 2020 64.41%