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B2Gold Corp.

Financial Statements (IFRS) · Amounts in CAD
5 10 All
Income Statement
Balance Sheet
Cash Flow
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Total Revenue 1.1B 782.9M 692.2M 532.1M 499.8M
Operating Revenue 1.1B 782.9M 692.2M 532.1M 499.8M
Cost Of Revenue 502.7M 392.6M 340.8M 294.4M 325.8M
Gross Profit 551.3M 390.3M 351.4M 237.8M 174.0M
Selling General And Administration 28.2M 22.2M 23.9M 17.7M 29.0M
General And Administrative Expense 28.2M 22.2M 23.9M 17.7M 29.0M
Other Operating Expenses -1.2M 17.5M 4.8M 7.2M 4.1M
Operating Expense 28.8M 40.1M 34.1M 31.8M 35.9M
Operating Income 522.5M 350.2M 317.3M 206.0M 138.1M
EBIT 382.2M 202.5M 291.3M 138.5M 119.2M
Interest Expense 22.4M 4.7M 4.9M 5.7M 10.8M
Interest Expense Non Operating 22.4M 4.7M 4.9M 5.7M 10.8M
Interest Income 3.3M 3.0M 2.9M 3.2M 3.6M
Interest Income Non Operating 3.3M 3.0M 2.9M 3.2M 3.6M
Net Interest Income -19.1M -1.7M -1.9M -2.6M -7.2M
Other Income Expense -143.1M -150.7M -29.0M -70.7M -22.5M
Other Non Operating Income Expenses 3.4M 416,000 1.7M 356,000 --
Special Income Charges 1.4M 0.00 -576,000 -5.1M 16.8M
Restructuring And Mergern Acquisition -- -- -- -- 0.00
Gain On Sale Of Security -149.1M -149.1M -30.1M -66.7M -18.6M
Earnings From Equity Interest 1.2M -2.1M -- 754,000 -18.8M
Pretax Income 359.8M 197.8M 286.4M 132.8M 108.3M
Tax Provision 179.6M 174.7M 125.6M 70.2M 117.6M
Tax Effect Of Unusual Items -22.1M -22.4M -4.6M -10.8M -273,000
Net Income From Continuing And Discontinued Operation 170.6M 19.3M 154.4M 57.6M -11.9M
Net Income From Continuing Operation Net Minority Interest 170.6M 19.3M 154.4M 57.6M -11.9M
Net Income Including Noncontrolling Interests 180.3M 23.1M 160.8M 62.6M -9.3M
Minority Interests -9.7M -3.8M -6.3M -5.0M -2.6M
Net Income Common Stockholders 170.6M 19.3M 154.4M 57.6M -11.9M
Net Income 170.6M 19.3M 154.4M 57.6M -11.9M
EBITDA 526.1M 202.5M 394.0M 138.5M 213.1M
Normalized EBITDA 673.8M 351.6M 424.7M 210.3M 214.9M
Reconciled Depreciation 143.9M 104.7M 102.7M -- 93.9M
Basic EPS 0.13 -- 0.12 0.04 -0.01
Diluted EPS 0.11 -- 0.10 0.04 -0.01
Basic Average Shares 1.3B -- 1.3B 1.3B 1.3B
Diluted Average Shares 1.5B -- 1.5B 1.5B 1.3B
Total Unusual Items -147.7M -149.1M -30.7M -71.8M -1.8M
Total Unusual Items Excluding Goodwill -147.7M -149.1M -30.7M -71.8M -1.8M
Tax Rate For Calcs 0.15 0.15 0.15 0.15 0.15
Normalized Income 296.1M 146.0M 180.5M 118.6M -10.3M
Diluted NI Availto Com Stockholders 170.6M 19.3M 154.4M 57.6M -11.9M
Gain On Sale Of Business 0.00 0.00 -576,000 0.00 16.8M
Gain On Sale Of Ppe 1.4M 0.00 0.00 -- 0.00
Impairment Of Capital Assets 0.00 0.00 0.00 5.1M 0.00
Net Income Continuous Operations 180.3M 23.1M 160.8M 62.6M -9.3M
Net Non Operating Interest Income Expense -19.1M -1.7M -1.9M -2.6M -7.2M
Other Gand A 24.3M 15.2M 15.8M 11.8M 19.1M
Other Taxes 1.7M 380,000 5.4M 6.8M 2.9M
Reconciled Cost Of Revenue 502.7M 392.6M 340.8M 294.4M 325.8M
Salaries And Wages 4.0M 7.0M 8.1M 5.9M 9.9M
Total Expenses 531.5M 432.7M 374.9M 326.1M 361.7M
Total Operating Income As Reported 511.0M 332.9M 329.5M 208.8M 128.4M
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Cash And Cash Equivalents 380.4M 367.2M 308.5M -- 337.0M
Cash Cash Equivalents And Short Term Investments 385.3M 367.2M 310.3M -- 348.5M
Other Short Term Investments 4.9M 8.4M 1.8M -- 11.6M
Accounts Receivable -- 54.2M -- -- --
Receivables 80.3M 104.7M 44.3M -- 54.5M
Inventory 627.2M 598.5M 561.1M -- 477.6M
Prepaid Assets 36.8M 33.7M 34.2M -- 18.9M
Current Assets 1.1B 1.1B 949.9M -- 901.8M
Gross PPE 7.9B 3.8B 7.9B -- 7.4B
Accumulated Depreciation -4.1B -4.1B -4.3B -- -4.1B
Net PPE 3.8B 3.8B 3.6B -- 3.3B
Investments And Advances 384.2M 272.7M 225.1M -- 168.1M
Long Term Equity Investment 98.2M 94.3M 96.4M -- 91.4M
Other Investments 286.1M 178.4M 128.7M -- 76.7M
Other Non Current Assets 252.6M 243.3M 180.8M -- 194.0M
Total Non Current Assets 4.7B 4.6B 4.4B -- 3.9B
Total Assets 5.9B 5.7B 5.3B -- 4.8B
Current Debt 13.8M 30.1M 5.4M -- 16.4M
Current Debt And Capital Lease Obligation 33.9M 30.1M 31.4M -- 16.4M
Accounts Payable 174.8M 157.0M 157.8M -- 156.4M
Payables 441.9M 399.7M 296.9M -- 259.9M
Payables And Accrued Expenses 441.9M 399.7M 296.9M -- 259.9M
Current Deferred Revenue 285.5M 423.4M 558.2M -- 272.8M
Other Current Liabilities 281.9M 176.3M 76.1M -- 24.4M
Current Liabilities 1.1B 1.0B 969.0M -- 580.7M
Long Term Debt 532.3M 607.5M 375.6M -- 421.5M
Long Term Debt And Capital Lease Obligation 564.4M 607.5M 411.5M -- 421.5M
Long Term Capital Lease Obligation 32.1M 32.2M 35.8M -- 22.9M
Other Non Current Liabilities 284.4M 255.9M 221.8M -- 182.1M
Total Non Current Liabilities Net Minority Interest 1.2B 1.3B 1.0B -- 1.2B
Total Liabilities Net Minority Interest 2.2B 2.3B 2.0B -- 1.8B
Common Stock 3.6B 3.6B 3.5B -- 3.5B
Capital Stock 3.6B 3.6B 3.5B -- 3.5B
Additional Paid In Capital 151.2M 155.4M 160.5M -- 91.2M
Retained Earnings -220.6M -364.5M -356.9M -- -515.6M
Gains Losses Not Affecting Retained Earnings 56.0M -26.2M -60.5M -- -102.8M
Other Equity Adjustments 56.0M -26.2M -60.5M -- -102.8M
Common Stock Equity 3.6B 3.3B 3.3B -- 3.0B
Stockholders Equity 3.6B 3.3B 3.3B -- 3.0B
Total Equity Gross Minority Interest 3.6B 3.4B 3.3B -- 3.0B
Minority Interest 48.0M 45.7M 46.6M -- 52.6M
Total Capitalization 4.1B 3.9B 3.6B -- 3.4B
Net Tangible Assets 3.6B 3.3B 3.3B -- 3.0B
Tangible Book Value 3.6B 3.3B 3.3B -- 3.0B
Working Capital 68.4M 34.9M -19.1M -- 321.1M
Invested Capital 4.1B 4.0B 3.7B -- 3.4B
Total Debt 598.3M 637.6M 442.9M -- 437.9M
Net Debt 165.7M 270.4M 72.5M -- 100.9M
Share Issued 1.3B 1.3B 1.3B -- 1.3B
Ordinary Shares Number 1.3B 1.3B 1.3B -- 1.3B
Assets Held For Sale Current -- -- -- -- --
Available For Sale Securities -- 78.5M -- -- --
Buildings And Improvements 3.6B 2.2B 2.2B -- 2.1B
Capital Lease Obligations 52.2M 52.7M 53.3M -- 29.3M
Construction In Progress 9.6M 1.6B 1.6B -- 1.3B
Current Capital Lease Obligation 20.1M 20.5M 17.5M -- 6.4M
Current Deferred Assets -- -- -- -- --
Current Deferred Liabilities 285.5M 423.4M 558.2M -- 272.8M
Current Provisions 18.1M 6.1M 6.5M -- 7.2M
Derivative Product Liabilities -- 37.4M 32.2M -- --
Employee Benefits 25.1M 23.9M 22.2M -- 18.4M
Finished Goods 67.4M 78.7M 78.5M -- 34.2M
Hedging Assets Current 0.00 -- -- -- 2.2M
Investmentin Financial Assets -- 78.5M -- -- --
Investmentsin Associatesat Cost 98.2M 94.3M 96.4M -- 91.4M
Line Of Credit -- -- 0.00 -- --
Long Term Provisions 151.3M 158.0M 150.9M -- 140.5M
Non Current Accounts Receivable 276.0M 322.8M 315.2M -- 244.1M
Non Current Deferred Assets 76.4M 16.2M 31.4M -- 0.00
Non Current Deferred Liabilities 151.3M 203.1M 182.2M -- 435.1M
Non Current Deferred Revenue 0.00 0.00 0.00 -- 265.3M
Non Current Deferred Taxes Assets 76.4M 16.2M 31.4M -- 0.00
Non Current Deferred Taxes Liabilities 151.3M 203.1M 182.2M -- 169.7M
Non Current Note Receivables -- -- 7.3M -- 0.00
Non Current Prepaid Assets 0.00 0.00 0.00 -- 14.5M
Other Current Borrowings 13.8M 30.1M 5.4M -- 16.4M
Other Receivables 16.6M 12.1M 8.5M -- 8.4M
Raw Materials 514.0M 495.7M 462.9M -- 397.8M
Taxes Receivable 63.7M 50.5M 35.9M -- 46.2M
Total Tax Payable 267.1M 242.7M 139.0M -- 103.6M
Trading Securities -- -- -- -- --
Treasury Shares Number -- -- -- -- 0.00
Work In Process 45.8M 24.2M 19.7M -- 45.6M
Line Item Q4 2025Dec 31, 2025 Q3 2025Sep 30, 2025 Q2 2025Jun 30, 2025 Q1 2025Mar 31, 2025 Q4 2024Dec 31, 2024
Operating Cash Flow 290.6M 171.4M 255.1M -- 120.5M
Cash Flow From Continuing Operating Activities 290.6M 171.4M 255.1M -- 120.5M
Depreciation Amortization Depletion 143.9M 104.7M 102.7M -- 93.9M
Stock Based Compensation 4.0M 5.1M 8.0M -- 9.8M
Deferred Tax -125.0M 31.1M -29.1M -- 30.7M
Deferred Income Tax -125.0M 31.1M -29.1M -- 30.7M
Change In Working Capital 74.9M -8.5M -45.8M -- -24.1M
Changes In Account Receivables 2.6M 683,000 -12.9M -- 26.6M
Change In Receivables -17.7M -18.6M -38.9M -- 73.5M
Change In Inventory -16.8M -60.9M -29.9M -- -24.8M
Change In Payables And Accrued Expense 109.5M 127.0M 22.9M -- -72.8M
Change In Payable 109.5M 127.0M 22.9M -- -72.8M
Change In Other Working Capital -- 70.9M -- -- --
Other Non Cash Items -84.7M 156.8M 38.2M -- 21.2M
Capital Expenditure -- -- -- -- --
Net PPE Purchase And Sale -- -- -- -- 0.00
Purchase Of Business 0.00 0.00 -4.8M -- 0.00
Sale Of Business 0.00 0.00 0.00 -- 0.00
Purchase Of Investment -32.2M -24.7M -6.2M -- -26.0M
Sale Of Investment 23.9M 8.5M 22.5M -- 20.7M
Net Investment Purchase And Sale -8.2M -16.2M 16.4M -- -5.4M
Investing Cash Flow -183.8M -277.5M -236.4M -- -252.0M
Cash Flow From Continuing Investing Activities -183.8M -277.5M -236.4M -- -252.0M
Issuance Of Debt 589,000 204.4M 3.3M -- 257.8M
Repayment Of Debt -56.9M -9.2M -12.6M -- -53.3M
Net Issuance Payments Of Debt -56.4M 195.3M -9.3M -- 204.5M
Repurchase Of Capital Stock 0.00 -9.8M -- -- --
Net Common Stock Issuance 13.9M -9.8M -- -- --
Common Stock Dividend Paid -26.0M -25.9M -26.0M -- -46.7M
Common Stock Payments 0.00 -9.8M -- -- --
Financing Cash Flow -83.8M 176.1M -41.9M -- 48.1M
Cash Flow From Continuing Financing Activities -83.8M 176.1M -41.9M -- 48.1M
Effect Of Exchange Rate Changes -9.8M -11.3M 1.6M -- -10.9M
Changes In Cash 23.0M 70.0M -23.3M -- -83.3M
Beginning Cash Position 367.2M 308.5M 330.1M -- 431.1M
End Cash Position 380.4M 367.2M 308.5M -- 337.0M
Free Cash Flow 290.6M 171.4M 255.1M -- 103.7M
Asset Impairment Charge 0.00 0.00 0.00 -- 0.00
Capital Expenditure Reported -- -- -- -- --
Cash Dividends Paid -26.0M -25.9M -26.0M -- -46.7M
Change In Account Payable 44.7M 11.9M 11.1M -- -15.3M
Change In Income Tax Payable 64.8M 115.1M 11.8M -- -57.5M
Change In Tax Payable 64.8M 115.1M 11.8M -- -57.5M
Earnings Losses From Equity Investments -- 2.1M 576,000 -- 2.0M
Gain Loss On Investment Securities 100.6M 101.7M 19.8M -- -3.6M
Gain Loss On Sale Of Business 0.00 0.00 0.00 -- 0.00
Gain Loss On Sale Of PPE -1.4M 4.1M -- -- 0.00
Interest Paid Cff -6.0M -7.8M -1.1M -- -5.9M
Long Term Debt Issuance 589,000 204.4M 3.3M -- 257.8M
Long Term Debt Payments -56.9M -9.2M -12.6M -- -53.3M
Net Business Purchase And Sale 0.00 0.00 -4.8M -- 0.00
Net Income From Continuing Operations 180.3M 23.1M 160.8M -- -9.3M
Net Long Term Debt Issuance -56.4M 195.3M -9.3M -- 204.5M
Net Other Financing Charges -40.1M -4.8M -9.4M -- -113.9M
Net Other Investing Changes -175.5M -261.2M -248.0M -- -229.7M
Operating Gains Losses 97.2M 107.9M 20.4M -- -1.7M
Proceeds From Stock Option Exercised 30.7M 29.2M 3.9M -- 108,000
Sale Of PPE -- -- -- -- 0.00
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