B2Gold (BTG) Return on Invested Capital [ROIC] (2014 - 2026)
B2Gold's Return on Invested Capital [ROIC] was 47.39% in the quarter ended Jun 30, 2026, up 29.92 percentage points from 17.48% a year earlier and up 6.89 percentage points from the prior quarter.
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Analysis
B2Gold (BTG) Return on Invested Capital [ROIC] (2014 - 2026) Analysis & Trends
For the year ended Dec 31, 2025, Return on Invested Capital [ROIC] at B2Gold came in at 30.67%, up 37.23 percentage points from the prior year.
- Return on Invested Capital [ROIC] shows a five-year change of -10.75 percentage points (years ended Dec 2020 to Dec 2025).
- In earlier years, Return on Invested Capital [ROIC] was -6.56% in the year ended Dec 31, 2024 (-15.24 pp), 8.69% in the year ended Dec 31, 2023 (-7.39 pp), 16.07% in the year ended Dec 31, 2022 (-8.33 pp) and 24.40% in the year ended Dec 31, 2021 (-17.02 pp).
- Quarterly Return on Invested Capital [ROIC] has moved between -1266.86% (the quarter ended Sep 30, 2024) and 201.16% (the quarter ended Sep 30, 2025) over five years.
- Compared with a year earlier, Return on Invested Capital [ROIC] has increased for four straight quarters, with an average year-over-year change of +259.58 percentage points over the last six quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was the quarter ended Sep 30, 2025 (a gain of 1468.03 percentage points); the worst was the quarter ended Dec 31, 2022 (a drop of 31.57 percentage points).
- Per Business Quant data, BTG's Return on Invested Capital [ROIC] in the three quarters before the quarter ended Jun 30, 2026 was 40.50% (quarter ended Mar 31, 2026), 49.94% (quarter ended Dec 31, 2025) and 201.16% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Rio Tinto | 193.68 Bn | 159.81 Bn | - | - |
| 2 | Southern Copper | 171.36 Bn | 150.22 Bn | 2.90 Bn | - |
| 3 | Newmont | 121.76 Bn | 89.94 Bn | 4.03 Bn | 7.86% |
| 4 | Ternium | 113.51 Bn | 78.56 Bn | 941.02 Mn | 4.89% |
| 5 | Freeport-Mcmoran | 103.45 Bn | 99.60 Bn | 2.19 Bn | 11.56% |
| 6 | Agnico Eagle Mines | 91.92 Bn | 91.92 Bn | 2.43 Bn | 35.18% |
| 7 | Barrick Mining | 67.42 Bn | 52.16 Bn | 2.90 Bn | 29.31% |
| 8 | Nucor | 54.54 Bn | 45.08 Bn | 2.03 Bn | 11.01% |
| 9 | ArcelorMittal | 49.09 Bn | 30.12 Bn | - | 3.54% |
| 10 | B2Gold | 6.97 Bn | 7.00 Bn | 308.29 Mn | 47.39% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 47.39% |
| Mar 31, 2026 | 40.50% |
| Dec 31, 2025 | 49.94% |
| Sep 30, 2025 | 201.16% |
| Jun 30, 2025 | 17.48% |
| Mar 31, 2025 | -10.13% |
| Dec 31, 2024 | -13.73% |
| Sep 30, 2024 | -1,266.86% |
| Mar 31, 2024 | 15.16% |
| Dec 31, 2023 | 15.74% |
| Jun 30, 2023 | 38.63% |
| Mar 31, 2023 | 17.26% |
| Dec 31, 2022 | 16.08% |
| Sep 30, 2022 | 34.37% |
| Dec 31, 2021 | 47.65% |
| Dec 31, 2020 | 35.09% |
| Sep 30, 2020 | 59.44% |
| Mar 31, 2020 | 51.26% |
| Dec 31, 2019 | 40.08% |
| Sep 30, 2019 | 117.77% |
API Access
B2Gold Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=BTG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=BTG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();