COMPARE · Data as of August 21, 2026
BTG vs ORLA
Verdict: Side-by-side breakdown using the Bull Rankings model. BTG scored 70.4, ORLA scored 65.2 — BTG leads.
Compare another set
Different reporting periods. ORLA's fundamentals are as of March 2026, but BTG's are as of December 2025 — a 3-month gap. Growth, margin and valuation figures below therefore describe different windows and aren't strictly like-for-like.
BTG
B2Gold Corp
70.4
$5.38 · $7.1B
fundamentals as of
Score gap
5.2
BTG leads
ORLA
Orla Mining Ltd
65.2
$9.44 · $3.5B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
- CheapestBTG9.6x
- Fastest growthORLA+207.6%
- Strongest balance sheetBTG0.11
- Highest qualityORLA81 / 100
- Largest discount to fair valueBTG-58%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
BTG
stronger →← stronger
ORLA
76
Qualityreturns · margins · balance sheet
81
50
Growthrevenue & earnings expansion
50
92
Valuevaluation vs sector peers
68
BTG and ORLA split the three pillars evenly.
Fundamentals, head-to-head
BTG
ORLA
$923mC+
FCF
$359mC
+60.9%A
Rev
+207.6%A
0.11A-
D/E
0.42B
9.6xA
P/E
13.1xA-
0.10A
PEG
1.34B
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
BTG
ORLA
58% below
Price vs fair valuelower is cheaper
35% below
~-7%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-4%/yr
+82%
1-yr DCF upside
+40%
+137%
5-yr DCF upside
+53%
+247%
10-yr DCF upside
+72%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
BTG
Why this score
- Cut its dividend
- Cyclical growth
ORLA
Why this score
- Cyclical growth
- Short track record
The companies
BTGB2Gold Corp
Why now
Gold · market cap $7.1b. 14% off the 52-week high of $6.29. Revenue growing +61% — in hypergrowth territory. PEG 0.10 — paying under fair value for the growth rate. 5 sell-side analysts rate this a Buy with a mean 1-yr target of $6.15 (implying +14% upside).
Moat
Net margin 21% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 12% meets the long-run market sustainable threshold — solid but not differentiated; the durability comes from elsewhere. Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong.
Risk
Hedge-book exposure — many commodity producers hedge forward production; if the hedge book is concentrated at prices well below spot, the upside the market expects is already locked away.
ORLAOrla Mining Ltd
Why now
Gold · market cap $3.5b. Down 57% from 52-week high of $21.98 — deep drawdown territory. Revenue growing +208% — in hypergrowth territory.
Moat
Net margin 19% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 42% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 142% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Down 57% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Jurisdictional + permitting risk — mining and extraction operations concentrate exposure to political stability, royalty regimes, and environmental review timelines that can stall production for years.
Verdict — model-derived comparison
The model slightly favors ORLA (72.2) over BTG (71.1), primarily due to ORLA's superior Value pillar score of 99 compared to BTG's 95. A contrarian, however, might prefer BTG for its significantly lower PEG of 0.11 (grade A), suggesting a more compelling valuation relative to its growth. Both gold stocks share the structural caveat of cyclical growth.
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where BTG and ORLA diverge
On the headline score the gap is 5.2 points in favor of BTG. They get there differently, though — each leads on a different pillar, so the better pick depends on which you weight.
- ValueBTG 92.1 · ORLA 68.4BTG +23.7
- QualityBTG 75.6 · ORLA 81.0ORLA +5.4
- GrowthBTG 50.0 · ORLA 50.0level
Pillars run 0–100 against sector peers, so a score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.