Aris Mining Corporation (ARIS) vs B2Gold Corp (BTG)

Aris Mining Corporation and B2Gold Corp are both Gold companies. B2Gold Corp is the larger, with a market value of $7.0B against $3.9B — 1.8× the size. B2Gold Corp trades at the lower P/E: 9.0× against 13.6×. Aris Mining Corporation grew revenue faster over the last twelve months: 96.3% against 74.2%. Aris Mining Corporation has the higher net margin (22.4% vs 21.3%) and the lower return on invested capital (19.3% vs 28.8%). Across the 22 metrics below, B2Gold Corp leads on 14 and Aris Mining Corporation on 8.

Valuation

Metric ARIS BTG Gold median
P/E 13.62 9.02 23.34
P/S 3.08 1.93 5.02
P/B 2.21 1.82 3.53
Price to free cash flow 22.25 15.96 16.73
EV/EBITDA 6.36 3.04 8.34
EV/Sales 3.14 1.98 4.92
Earnings yield 7.34% 11.09% 1.44%
Free cash flow yield 4.50% 6.26% 0.75%

Profitability

Metric ARIS BTG Gold median
Gross margin 59.51% 49.13% 50.00%
Operating margin 44.74% 51.07% 26.32%
Net margin 22.43% 21.33% 12.30%
Free cash flow margin 13.84% 12.08% 0.00%
Return on equity 19.07% 22.05% 6.36%
Return on assets 11.34% 14.60% 0.00%
Return on invested capital 19.25% 28.76% 0.52%

Growth

Metric ARIS BTG Gold median
Revenue growth (TTM) 96.26% 74.23% 68.15%
EPS growth (last fiscal year) 192.86% 158.33% —
Revenue growth, 5-year CAGR 17.58% 11.34% 16.12%
Net income growth, 5-year CAGR 0.00% (8.54%) 0.00%

Health

Metric ARIS BTG Gold median
Debt to equity 0.29 0.12 0.10
Current ratio 1.91 1.58 3.08
Net debt to EBITDA 0.32 0.12 0.00

Dividend

Metric ARIS BTG Gold median
Dividend yield — 6.34% 1.49%
Payout ratio — 0.59 0.00

Size

Metric ARIS BTG Gold median
Market cap 3.85b 7.03b 1.96b

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