B2Gold Corp (BTG) vs Silver Standard Resources Inc. (SSRM)

B2Gold Corp and Silver Standard Resources Inc. are both Gold companies. B2Gold Corp is the larger, with a market value of $7.0B against $5.6B — 1.2× the size. B2Gold Corp trades at the lower P/E: 6.0× against 23.0×. B2Gold Corp grew revenue faster over the last twelve months: 53.1% against 39.4%. B2Gold Corp has the higher net margin (31.2% vs 12.6%) and the higher return on invested capital (29.3% vs 25.6%). Both pay a dividend; B2Gold Corp yields more (1.48% vs 0.11%). Across the 23 metrics below, B2Gold Corp leads on 13 and Silver Standard Resources Inc. on 10.

Valuation

Metric BTG SSRM Gold median
P/E 5.99 22.99 19.17
P/S 1.86 2.88 3.98
P/B 1.62 1.76 2.45
Price to free cash flow 27.07 19.37 19.37
EV/EBITDA 3.00 5.52 6.65
EV/Sales 1.94 2.22 3.88
Earnings yield 16.69% 4.35% 1.11%
Free cash flow yield 3.69% 5.16% 0.79%

Profitability

Metric BTG SSRM Gold median
Gross margin 47.81% 62.71% 50.86%
Operating margin 57.23% 33.88% 21.90%
Net margin 31.18% 12.64% 9.65%
Free cash flow margin 6.88% 14.89% 0.00%
Return on equity 30.78% 6.80% 0.12%
Return on assets 20.09% 4.95% 0.10%
Return on invested capital 29.28% 25.61% 0.26%

Growth

Metric BTG SSRM Gold median
Revenue growth (TTM) 53.11% 39.40% 62.71%
EPS growth (last fiscal year) 158.33% 243.41% 60.15%
Revenue growth, 5-year CAGR 11.34% 13.82% 15.33%
Net income growth, 5-year CAGR (8.54%) 21.17% 0.00%

Health

Metric BTG SSRM Gold median
Debt to equity 0.13 0.00 0.05
Current ratio 1.77 7.53 3.34
Net debt to EBITDA 0.12 (0.36) (0.15)

Dividend

Metric BTG SSRM Gold median
Dividend yield 1.48% 0.11% 0.79%
Payout ratio 0.10 0.03 0.14

Size

Metric BTG SSRM Gold median
Market cap 6.96b 5.57b 1.13b

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