B2Gold Ratios and Metrics

Market cap in millions NAD. Fiscal year is January - December.

Millions NAD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 24, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	131,046	99,706	60,621	76,367	64,756	66,285
Market Cap Growth	108.17%	64.47%	-20.62%	17.93%	-2.31%	-23.03%
Enterprise Value	135,191	104,880	59,912	73,509	57,889	60,245
Last Close Price	97.20	75.63	44.45	54.84	53.43	52.23
PE Ratio	19.69	14.98	-	408.63	15.10	9.89
PS Ratio	2.59	1.97	1.69	2.13	2.20	2.36
PB Ratio	2.17	1.65	1.06	1.06	1.23	1.40
P/TBV Ratio	2.20	1.68	1.08	1.08	1.27	1.45
P/FCF Ratio	121.91	92.76	-	-	17.88	9.32
P/OCF Ratio	8.84	6.72	3.66	5.78	6.41	5.74
EV/Sales Ratio	2.78	2.07	1.67	2.05	1.97	2.14
EV/EBITDA Ratio	5.42	4.08	3.40	4.57	3.72	3.47
EV/EBIT Ratio	7.56	5.63	5.54	8.76	6.53	5.32
EV/FCF Ratio	125.77	97.57	-	-	15.98	8.47
Debt / Equity Ratio	0.16	0.16	0.14	0.05	0.02	0.03
Debt / EBITDA Ratio	0.38	0.38	0.47	0.22	0.06	0.07
Debt / FCF Ratio	9.22	9.22	-	-	0.27	0.17
Net Debt / Equity Ratio	0.06	0.06	0.03	-0.03	-0.19	-0.20
Net Debt / EBITDA Ratio	0.14	0.14	0.10	-0.13	-0.65	-0.55
Net Debt / FCF Ratio	3.28	3.28	-3.78	1.04	-2.78	-1.34
Asset Turnover	0.57	0.57	0.39	0.45	0.48	0.51
Inventory Turnover	1.97	1.97	2.01	2.22	2.46	2.41
Quick Ratio	0.44	0.44	0.69	1.10	2.92	3.19
Current Ratio	1.06	1.06	1.55	2.27	4.43	4.53
Return on Equity (ROE)	12.78%	12.78%	-18.04%	1.19%	9.44%	16.39%
Return on Assets (ROA)	13.16%	13.16%	7.40%	6.63%	9.03%	12.81%
Return on Invested Capital (ROIC)	13.14%	14.09%	16.57%	1.86%	11.58%	19.35%
Return on Capital Employed (ROCE)	23.40%	23.40%	13.50%	9.90%	15.20%	21.30%
Earnings Yield	5.08%	6.67%	-19.61%	0.24%	6.62%	10.11%
FCF Yield	0.82%	1.08%	-0.74%	-2.68%	5.59%	10.73%
Dividend Yield	1.45%	1.75%	6.79%	5.40%	5.08%	4.89%
Payout Ratio	30.76%	25.74%	-	1849.30%	67.48%	40.08%
Buyback Yield / Dilution	-13.14%	-13.14%	-5.77%	-15.54%	-0.89%	-0.50%
Total Shareholder Return	-11.69%	-11.39%	1.02%	-10.14%	4.19%	4.39%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.