Estados financieros detallados de Angel Oak Mortgage, Inc. (AOMR): 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
Angel Oak Mortgage, Inc. registró ingresos de $132.8M en el último ejercicio fiscal, con un CAGR de 5 años del 66.5%. El beneficio neto alcanzó $44.0M, con un CAGR a 5 años del 126.7%.
Márgenes de los últimos 12 meses: margen bruto 44.7%, margen operativo 29.5%, margen neto 11.6%. El flujo de caja libre creció a un CAGR del -11.6% en 5 años.
Al precio actual de $8.00, AOMR cotiza a un P/E de 10.18 y un ROE del 7.31%. La capitalización bursátil es de $199M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | -$1.3M | $11.8M | $10.4M | $41.8M | -$157.9M | $54.9M | $51.5M | $132.8M |
| Coste de Ventas | $4.4M | $5.2M | $6.3M | 0 | 0 | 0 | 0 | $13.2M |
| Beneficio Bruto | -$5.8M | $6.6M | $4.1M | $41.8M | -$157.9M | $54.9M | $51.5M | $119.6M |
| I+D | 0 | $0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $404000 | $1.9M | $3.3M | $1.7M | $5.8M | $1.7M | $2.0M | $1.4M |
| Gastos Operativos | $404000 | -$6.7M | $3.3M | $41.8M | -$157.9M | $54.9M | $51.5M | -$27.5M |
| Beneficio Operativo | -$6.2M | $5.1M | $736000 | 0 | 0 | 0 | 0 | $147.1M |
| EBITDA | -$6.2M | $13.1M | 0 | 0 | 0 | 0 | $3.3M | $151.6M |
| Gastos por Intereses | 0 | $7.9M | $7.5M | $11.5M | $63.0M | $67.1M | $73.5M | $102.6M |
| Beneficio Antes de Impuestos | -$6.2M | $5.1M | $736000 | $22.7M | -$191.3M | $35.0M | $32.0M | $44.6M |
| Impuestos | 0 | 0 | 0 | $1.6M | -$3.5M | $1.2M | $3.3M | $531000 |
| Beneficio Neto | -$6.2M | $5.1M | $736000 | $21.1M | -$187.8M | $33.7M | $28.8M | $44.0M |
| BPA | $-0.24 | $0.20 | $0.03 | $0.84 | $-7.65 | $1.36 | $1.18 | $1.86 |
| BPA Diluido | $-0.24 | $0.20 | $0.03 | $0.84 | $-7.65 | $1.35 | $1.17 | $1.80 |
| Acciones en Circulación (Diluidas) | $26.2M | $26.2M | $15.7M | $20.9M | $24.5M | $24.9M | $24.4M | $24.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $41.4M | $44.8M | $38.0M | $37.7M |
| Beneficio Bruto | $14.9M | $16.7M | $33.8M | $7.0M |
| Beneficio Operativo | $11.7M | $11.5M | $21.2M | $3.4M |
| EBITDA | $11.7M | $15.1M | $21.2M | $3.4M |
| Beneficio Neto | $11.4M | $11.3M | -$7.4M | $3.4M |
| BPA | $0.49 | $0.46 | $-0.30 | $0.14 |
| BPA Diluido | $0.46 | $0.45 | $-0.30 | $0.14 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $791000 | $7.4M | $43.6M | $40.8M | $29.3M | $41.6M | $40.8M | $41.6M |
| Inversiones a Corto | 0 | $59000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $229.5M | $183.6M | $149.5M | $26.0M | $17.5M | $7.5M | $8.1M | $10.4M |
| Inventario | 0 | -$58999 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $232.3M | $197.1M | $200.5M | 0 | 0 | 0 | 0 | $57.2M |
| Inmovilizado Material | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $431.0M | $459.1M | $509.7M | $2.58B | $2.95B | $2.31B | $2.27B | $2.75B |
| Cuentas por Pagar | 0 | 0 | 0 | $1.3M | $1.01B | $392.8M | $202.9M | $201.6M |
| Deuda a Corto | $385.7M | $325.1M | $225.5M | 0 | 0 | 0 | 0 | $54.0M |
| Pasivos Corrientes | $386.9M | $326.8M | $226.4M | 0 | 0 | 0 | 0 | $259.1M |
| Deuda a Largo | 0 | $37.4M | $34.9M | $1.47B | $1.64B | $1.46B | $1.77B | $2.22B |
| Pasivos Totales | $386.9M | $364.2M | $261.3M | $2.09B | $2.71B | $2.05B | $2.03B | $2.48B |
| Reservas | -$1.5M | $3.6M | $2.6M | $11.5M | -$218.0M | -$216.2M | -$218.8M | -$206.0M |
| Patrimonio Neto | $44.0M | $94.9M | $248.3M | $491.4M | $236.5M | $256.1M | $239.0M | $267.5M |
| Deuda Total | $385.7M | $362.5M | $260.4M | $1.47B | $1.64B | $1.46B | $1.77B | $2.28B |
| Deuda Neta | $384.9M | $355.1M | $216.8M | $1.43B | $1.61B | $1.42B | $1.73B | $2.24B |
| Capital Circulante | -$154.6M | -$129.7M | -$25.9M | 0 | 0 | 0 | 0 | -$201.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $51.6M | $41.6M | $42.0M | $48.6M |
| Activos Totales | $2.64B | $2.75B | $2.81B | $2.99B |
| Pasivos Totales | $2.37B | $2.48B | $2.55B | $2.76B |
| Patrimonio Neto | $264.2M | $267.5M | $256.9M | $234.9M |
| Deuda Total | $2.21B | $2.28B | $2.42B | $2.49B |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$6.2M | $5.1M | $736000 | $21.1M | -$187.8M | $33.7M | $28.8M | $44.0M |
| Amortizaciones | 0 | 0 | 0 | 0 | 0 | 0 | $3.3M | $4.5M |
| Compensación en Acciones | 0 | 0 | 0 | $1.7M | $5.8M | $1.7M | $2.0M | $1.4M |
| Cambio en Capital Circulante | -$921.8M | -$4.8M | -$15.9M | -$8.2M | $86.8M | $28.3M | $11.8M | -$16.0M |
| Flujo de Caja Operativo | -$922.5M | $66.0M | $34.4M | -$1.57B | -$331.1M | $306.4M | -$221.4M | $18.6M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | -$4.7M | -$6.9M | 0 | -$19.9M | 0 |
| Dividendos Pagados | 0 | -$14000 | -$76.7M | -$12.2M | -$41.7M | -$31.9M | -$31.4M | -$30.9M |
| Flujo de Caja Libre | -$922.5M | $66.0M | $34.4M | -$1.57B | -$331.1M | $306.4M | -$221.4M | $18.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$173.4M | -$52.5M | -$143.7M | -$81.9M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$173.4M | -$52.5M | -$143.7M | -$81.9M |
| Dividendos Pagados | -$7.8M | -$8.0M | -$8.0M | -$7.4M |
| Compensación en Acciones | $397000 | $424000 | $423000 | $423000 |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +975.2% | -12.0% | +302.2% | -478.2% | +134.7% | -6.2% | +158.1% |
| Crecimiento Beneficio Neto (anual) | | +183.0% | -85.7% | +2768.6% | -989.7% | +117.9% | -14.7% | +53.1% |
| Crecimiento BPA (anual) | | +183.3% | -86.2% | +2954.5% | -1010.7% | +117.8% | -13.2% | +57.6% |
| Cambio en Acciones (anual) | | +0.0% | -40.0% | +32.6% | +17.7% | +1.6% | -2.2% | -0.3% |
| Crecimiento FCF (anual) | | +107.2% | -47.9% | -4656.8% | +78.9% | +192.5% | -172.3% | +108.4% |
| Margen Bruto | 429.7% | 55.6% | 39.3% | 100.0% | 100.0% | 100.0% | 100.0% | 90.1% |
| Margen Operativo | 459.6% | 43.6% | 7.1% | 0.0% | -0.0% | 0.0% | 0.0% | 110.8% |
| Margen EBITDA | 459.6% | 110.9% | 0.0% | 0.0% | -0.0% | 0.0% | 6.3% | 114.2% |
| Margen Neto | 459.6% | 43.6% | 7.1% | 50.6% | 118.9% | 61.5% | 55.9% | 33.2% |
| Margen FCF | 68436.2% | 559.5% | 331.4% | -3754.6% | 209.6% | 558.5% | -430.3% | 14.0% |
| Tasa Impositiva Efectiva | -0.0% | 0.0% | 0.0% | 7.0% | 1.8% | 3.6% | 10.2% | 1.2% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-35.19 | $2.52 | $2.19 | $-75.19 | $-13.49 | $12.28 | $-9.08 | $0.76 |
| Dividendo por Acción | $0.00 | $0.00 | $4.88 | $0.58 | $1.70 | $1.28 | $1.29 | $1.27 |
| Acciones en Circulación (Básicas) | $26.2M | $26.2M | $15.7M | $20.9M | $24.5M | $24.7M | $24.2M | $23.7M |
Qué mirar en empresas de Real Estate
- FFO / Acción (Crecimiento positivo) — El 'EPS real' de un REIT — beneficio + depreciación.
- Cobertura del dividendo (FFO/div) (≥1,1x) — El FFO debe cubrir el dividendo con margen.
- Deuda Neta / EBITDA (≤6x) — Referencia NAREIT. Normaliza el apalancamiento por generación de caja.
- Deuda / Activos (40-60%) — REITs usan mucha deuda por diseño. >65% es frágil ante subidas de tipos.
- FFO Payout (proxy) (<80%) — Dividendos / Cash Flow operativo. REITs de calidad retienen >20% para crecer.
- P/FFO (15-20x) — El P/E equivalente para REITs. Rango típico saludable.
Rentabilidad
| Rentabilidad sobre capital | 7.31% |
| Rentabilidad sobre capital invertido | 1.56% |
| Rentabilidad sobre activos | 0.63% |
| Margen bruto | 44.72% |
| Margen operativo | 29.54% |
| Margen neto | 11.55% |
Salud financiera
| Deuda / Patrimonio | 10.62 |
| Ratio corriente | 0.15 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.08 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -77.71 | 93.25 | 678.18 | 19.50 | -0.62 | 7.79 | 7.86 | 4.63 |
| P/VC | 11.10 | 5.15 | 1.18 | 0.70 | 0.49 | 1.02 | 0.94 | 0.76 |
| P/V | -362.67 | 41.44 | 28.24 | 8.18 | -0.74 | 4.78 | 4.36 | 1.54 |
| Margen Bruto | 429.7% | 55.6% | 39.3% | 100.0% | 100.0% | 100.0% | 100.0% | 90.1% |
| Margen Operativo | 459.6% | 43.6% | 7.1% | 0.0% | 0.0% | 0.0% | 0.0% | 110.8% |
| Margen Neto | 459.6% | 43.6% | 7.1% | 50.6% | 118.9% | 61.5% | 55.9% | 33.2% |