Estados financieros detallados de a.k.a. Brands Holding Corp. (AKA): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
a.k.a. Brands Holding Corp. registró ingresos de $600.2M en el último ejercicio fiscal, con un CAGR de 5 años del 22.7%.
Márgenes de los últimos 12 meses: margen bruto 59.6%, margen operativo -2.5%, margen neto -4.4%.
Al precio actual de $10.41, AKA presenta beneficios negativos (P/E no significativo) y un ROE del -26.90%. La capitalización bursátil es de $113M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $102.4M | $215.9M | $562.2M | $611.7M | $546.3M | $574.7M | $600.2M |
| Coste de Ventas | $46.6M | $89.5M | $254.5M | $274.5M | $246.0M | $247.2M | $273.9M |
| Beneficio Bruto | $55.9M | $126.4M | $307.7M | $337.2M | $300.3M | $327.5M | $326.3M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $53.3M | $104.3M | $277.4M | $335.5M | $303.7M | $337.8M | $288.0M |
| Gastos Operativos | $53.3M | $104.3M | $291.3M | $509.3M | $383.7M | $337.8M | $333.1M |
| Beneficio Operativo | $2.6M | $22.1M | $16.4M | -$172.0M | -$83.4M | -$10.3M | -$6.8M |
| EBITDA | $9.0M | $28.7M | $21.0M | -$153.2M | -$66.7M | $6.2M | -$1.6M |
| Gastos por Intereses | $272000 | $329000 | $9.5M | $7.0M | $11.2M | $10.3M | $10.0M |
| Beneficio Antes de Impuestos | $2.5M | $21.7M | -$5.2M | -$180.6M | -$97.0M | -$21.7M | -$29.3M |
| Impuestos | $1.0M | $6.8M | $852000 | -$3.9M | $1.9M | $4.3M | $2.1M |
| Beneficio Neto | $1.4M | $14.3M | -$6.0M | -$176.7M | -$98.9M | -$26.0M | -$31.4M |
| BPA | $0.13 | $1.34 | $-0.57 | $-16.47 | $-9.24 | $-2.46 | $-2.93 |
| BPA Diluido | $0.13 | $1.34 | $-0.57 | $-16.47 | $-9.24 | $-2.46 | $-2.93 |
| Acciones en Circulación (Diluidas) | $10.7M | $10.7M | $10.7M | $10.7M | $10.7M | $10.6M | $10.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $147.1M | $163.9M | $132.5M | $160.1M |
| Beneficio Bruto | $87.0M | $91.1M | $83.6M | $97.8M |
| Beneficio Operativo | -$1.4M | -$10.7M | -$4.1M | $1.2M |
| EBITDA | $2.8M | -$6.3M | -$18000 | $11.5M |
| Beneficio Neto | -$5.0M | -$14.5M | -$7.1M | -$161000 |
| BPA | $-0.46 | $-1.35 | $-0.66 | $-0.01 |
| BPA Diluido | $-0.46 | $-1.35 | $-0.66 | $-0.01 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5.8M | $27.1M | $38.8M | $46.3M | $21.9M | $24.2M | $20.3M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $399000 | $1.2M | $2.7M | $3.2M | $4.8M | $8.1M | $10.7M |
| Inventario | $23.8M | $36.8M | $115.8M | $126.5M | $91.0M | $95.8M | $88.8M |
| Activos Corrientes | $30.2M | $65.5M | $184.3M | $197.6M | $135.7M | $144.8M | $129.5M |
| Inmovilizado Material | $3.0M | $6.6M | $41.1M | $66.3M | $64.6M | $96.6M | $127.9M |
| Fondo de Comercio | 0 | 0 | $363.3M | $167.7M | $94.9M | $89.3M | $93.7M |
| Activos Intangibles | $112.7M | $117.4M | $98.3M | $76.1M | $64.3M | $52.4M | $43.5M |
| Activos Totales | $145.9M | $189.4M | $687.8M | $509.6M | $361.7M | $385.2M | $397.4M |
| Cuentas por Pagar | $7.2M | $4.7M | $25.1M | $20.9M | $28.3M | $30.3M | $31.2M |
| Deuda a Corto | $464000 | $7.6M | $5.6M | $5.6M | $3.3M | $6.3M | $6.4M |
| Pasivos Corrientes | $19.0M | $41.2M | $108.0M | $88.3M | $86.0M | $97.0M | $105.0M |
| Deuda a Largo | $5.3M | 0 | $103.2M | $138.0M | $90.1M | $105.4M | $104.7M |
| Pasivos Totales | $33.9M | $50.6M | $236.8M | $262.6M | $213.1M | $267.6M | $299.6M |
| Reservas | -$196000 | $14.1M | $8.2M | -$168.5M | -$267.4M | -$293.4M | -$324.8M |
| Patrimonio Neto | $103.3M | $128.9M | $451.0M | $247.1M | $148.6M | $117.6M | $97.8M |
| Deuda Total | $7.2M | $10.8M | $135.9M | $184.7M | $136.2M | $183.6M | $211.8M |
| Deuda Neta | $1.4M | -$16.2M | $97.0M | $138.4M | $114.4M | $159.4M | $191.5M |
| Capital Circulante | $11.2M | $24.2M | $76.3M | $109.3M | $49.7M | $47.7M | $24.4M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $23.4M | $20.3M | $12.9M | $21.1M |
| Activos Totales | $411.3M | $397.4M | $397.7M | $405.0M |
| Pasivos Totales | $301.2M | $299.6M | $303.3M | $309.5M |
| Patrimonio Neto | $110.1M | $97.8M | $94.4M | $95.6M |
| Deuda Total | $210.8M | $211.8M | $215.6M | $216.3M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $1.4M | $14.8M | -$6.1M | -$176.7M | -$98.9M | -$26.0M | -$31.4M |
| Amortizaciones | $6.2M | $6.8M | $16.7M | $20.3M | $19.1M | $17.6M | $8.3M |
| Compensación en Acciones | $353000 | $1.4M | $8.0M | $6.7M | $7.6M | $8.0M | $7.0M |
| Cambio en Capital Circulante | -$5.8M | $1.7M | $10.2M | -$33.3M | $26.2M | -$10.7M | $4.4M |
| Flujo de Caja Operativo | $511000 | $21.7M | $24.0M | -$319000 | $33.4M | $669000 | $16.4M |
| Inversiones (CapEx) | -$1.4M | -$1.8M | -$7.7M | -$19.7M | -$6.0M | -$11.6M | -$17.1M |
| Adquisiciones | -$20.4M | -$600000 | -$249.3M | -$5.3M | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$2.1M | -$1.5M | -$2.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$892000 | $19.9M | $16.2M | -$20.1M | $27.4M | -$10.9M | -$633000 |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $4.7M | $1.7M | -$3.8M | $22.6M |
| Inversiones (CapEx) | -$4.4M | -$4.7M | -$2.6M | -$4.3M |
| Flujo de Caja Libre | $317000 | -$3.0M | -$6.4M | $18.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.9M | $1.3M | $1.2M | $1.2M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +110.8% | +160.4% | +8.8% | -10.7% | +5.2% | +4.4% |
| Crecimiento Beneficio Neto (anual) | | +928.3% | -141.6% | -2860.7% | +44.0% | +73.7% | -20.9% |
| Crecimiento BPA (anual) | | +930.8% | -142.5% | -2789.5% | +43.9% | +73.4% | -19.1% |
| Cambio en Acciones (anual) | | +0.0% | +0.4% | +0.1% | -0.2% | -1.3% | +1.5% |
| Crecimiento FCF (anual) | | +2334.6% | -18.6% | -223.6% | +236.5% | -139.9% | +94.2% |
| Margen Bruto | 54.5% | 58.5% | 54.7% | 55.1% | 55.0% | 57.0% | 54.4% |
| Margen Operativo | 2.5% | 10.3% | 2.9% | -28.1% | -15.3% | -1.8% | -1.1% |
| Margen EBITDA | 8.7% | 13.3% | 3.7% | -25.0% | -12.2% | 1.1% | -0.3% |
| Margen Neto | 1.4% | 6.6% | -1.1% | -28.9% | -18.1% | -4.5% | -5.2% |
| Margen FCF | -0.9% | 9.2% | 2.9% | -3.3% | 5.0% | -1.9% | -0.1% |
| Tasa Impositiva Efectiva | 41.2% | 31.6% | -16.3% | 2.2% | -2.0% | -20.0% | -7.2% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.08 | $1.87 | $1.51 | $-1.87 | $2.56 | $-1.03 | $-0.06 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $10.7M | $10.7M | $10.7M | $10.7M | $10.7M | $10.6M | $10.7M |
Qué mirar en empresas de Consumer Cyclical
- Margen operativo medio 5a (Media del ciclo) — Mira la media del ciclo, no el año actual (pico o valle).
- Rotación de inventario (≥4x/año) — El retail sano rota inventario rápido. Una caída señala demanda débil.
- ROIC medio 5a (≥12%) — Cíclicas con ROIC medio >12% son ganadoras estructurales.
- Deuda neta / EBITDA (pico) (<3x en valle) — En cíclicas la deuda mata en recesión.
- Current Ratio (>1,5x) — Aguanta 12-18 meses sin caja operativa.
- Altman Z-Score (>2,99 seguro) — Modelo de bancarrota — clave en cíclicas sensibles a recesión.
Rentabilidad
| Rentabilidad sobre capital | -26.90% |
| Rentabilidad sobre capital invertido | -4.81% |
| Rentabilidad sobre activos | -6.61% |
| Margen bruto | 59.57% |
| Margen operativo | -2.50% |
| Margen neto | -4.43% |
Salud financiera
| Deuda / Patrimonio | 2.26 |
| Ratio corriente | 1.11 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 0.61 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 922.15 | 89.46 | -194.74 | -0.93 | -0.87 | -7.61 | -3.65 |
| P/VC | 12.39 | 9.93 | 2.64 | 0.66 | 0.58 | 1.68 | 1.17 |
| P/V | 12.49 | 5.93 | 2.12 | 0.27 | 0.16 | 0.34 | 0.19 |
| Margen Bruto | 54.5% | 58.5% | 54.7% | 55.1% | 55.0% | 57.0% | 54.4% |
| Margen Operativo | 2.5% | 10.3% | 2.9% | -28.1% | -15.3% | -1.8% | -1.1% |
| Margen Neto | 1.4% | 6.6% | -1.1% | -28.9% | -18.1% | -4.5% | -5.2% |