Estados financieros detallados de Alpha Pro Tech, Ltd. (APT): 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
Alpha Pro Tech, Ltd. registró ingresos de $59.1M en el último ejercicio fiscal, con un CAGR de 5 años del -10.5%. El beneficio neto alcanzó $3.5M, con un CAGR a 5 años del -33.4%.
Márgenes de los últimos 12 meses: margen bruto 38.0%, margen operativo 7.5%, margen neto 6.8%. El flujo de caja libre creció a un CAGR del -36.8% en 5 años.
Al precio actual de $5.20, APT cotiza a un P/E de 12.72 y un ROE del 6.64%. La capitalización bursátil es de $53M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $46.2M | $44.0M | $46.6M | $46.7M | $102.7M | $68.6M | $62.0M | $61.2M | $57.8M | $59.1M |
| Coste de Ventas | $29.2M | $26.6M | $28.9M | $29.7M | $52.2M | $43.3M | $40.3M | $38.4M | $34.9M | $36.6M |
| Beneficio Bruto | $17.0M | $17.5M | $17.7M | $17.0M | $50.5M | $25.3M | $21.7M | $22.8M | $22.9M | $22.5M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $12.8M | $14.0M | $13.3M | $13.3M | $18.2M | $16.6M | $16.2M | $17.8M | $18.6M | $17.8M |
| Gastos Operativos | $13.3M | $14.5M | $13.8M | $13.9M | $18.9M | $17.4M | $17.0M | $18.7M | $19.5M | $18.7M |
| Beneficio Operativo | $3.7M | $2.9M | $3.9M | $3.0M | $31.6M | $7.9M | $4.7M | $4.1M | $3.4M | $3.8M |
| EBITDA | $4.2M | $3.5M | $4.4M | $3.6M | $32.3M | $9.3M | $5.2M | $6.3M | $5.9M | $5.6M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $4.2M | $3.7M | $4.4M | $3.7M | $32.2M | $8.5M | $4.4M | $5.4M | $5.0M | $4.7M |
| Impuestos | $1.0M | $1.0M | $789000 | $680000 | $5.4M | $1.7M | $1.1M | $1.2M | $1.1M | $1.1M |
| Beneficio Neto | $3.2M | $2.6M | $3.6M | $3.0M | $26.9M | $6.8M | $3.3M | $4.2M | $3.9M | $3.5M |
| BPA | $0.19 | $0.18 | $0.26 | $0.23 | $2.00 | $0.51 | $0.26 | $0.35 | $0.35 | $0.34 |
| BPA Diluido | $0.19 | $0.18 | $0.26 | $0.23 | $1.92 | $0.50 | $0.26 | $0.35 | $0.35 | $0.33 |
| Acciones en Circulación (Diluidas) | $16.8M | $15.0M | $14.0M | $13.2M | $14.0M | $13.5M | $12.8M | $11.9M | $11.2M | $10.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $14.8M | $13.9M | $14.6M | $18.7M |
| Beneficio Bruto | $5.9M | $5.1M | $5.5M | $7.0M |
| Beneficio Operativo | $1.1M | $952000 | $580000 | $2.0M |
| EBITDA | $1.5M | $1.2M | $1.4M | $2.1M |
| Beneficio Neto | $976000 | $698000 | $702000 | $1.8M |
| BPA | $0.09 | $0.07 | $0.07 | $0.18 |
| BPA Diluido | $0.09 | $0.07 | $0.07 | $0.18 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $9.5M | $8.8M | $7.0M | $6.5M | $23.3M | $16.3M | $16.3M | $20.4M | $18.6M | $17.0M |
| Inversiones a Corto | $607000 | $343000 | $258000 | $335000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $4.8M | $5.0M | $5.3M | $4.3M | $9.0M | $4.8M | $7.0M | $6.5M | $4.9M | $6.9M |
| Inventario | $11.0M | $10.2M | $9.9M | $11.3M | $16.7M | $25.0M | $24.4M | $20.1M | $22.7M | $23.6M |
| Activos Corrientes | $29.7M | $27.0M | $26.5M | $26.1M | $55.2M | $53.0M | $52.6M | $53.1M | $50.6M | $52.5M |
| Inmovilizado Material | $2.6M | $3.2M | $3.2M | $7.1M | $7.9M | $8.7M | $7.5M | $10.4M | $17.2M | $16.0M |
| Fondo de Comercio | $55000 | $55000 | $55000 | $55000 | $55000 | $55000 | $55000 | $55000 | $55000 | $55000 |
| Activos Intangibles | $34000 | $21000 | $16000 | $11000 | $7000 | $3000 | $1000 | 0 | 0 | 0 |
| Activos Totales | $35.9M | $34.1M | $34.3M | $38.1M | $68.7M | $67.0M | $64.8M | $68.8M | $73.7M | $74.1M |
| Cuentas por Pagar | $101000 | $1.2M | $578000 | $501000 | $2.0M | $528000 | $674000 | $802000 | $1.3M | $2.0M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $893000 | $965000 |
| Pasivos Corrientes | $2.5M | $2.8M | $1.9M | $2.3M | $5.9M | $2.7M | $2.4M | $2.6M | $3.1M | $4.1M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $3.3M | $2.8M | $2.1M | $4.9M | $9.1M | $5.3M | $4.0M | $7.2M | $11.5M | $11.7M |
| Reservas | $22.7M | $26.2M | $29.4M | $32.4M | $59.0M | $62.5M | $45.0M | $46.6M | $47.3M | $48.5M |
| Patrimonio Neto | $32.7M | $31.3M | $32.2M | $33.2M | $59.5M | $61.8M | $60.8M | $61.6M | $62.2M | $62.5M |
| Deuda Total | 0 | 0 | 0 | $3.2M | $3.6M | $2.7M | $1.8M | $4.8M | $8.8M | $7.9M |
| Deuda Neta | -$10.1M | -$9.1M | -$7.3M | -$3.7M | -$19.7M | -$13.6M | -$14.5M | -$15.5M | -$9.9M | -$9.1M |
| Capital Circulante | $27.2M | $24.2M | $24.5M | $23.8M | $49.3M | $50.3M | $50.2M | $50.5M | $47.5M | $48.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $17.7M | $17.0M | $16.9M | $18.9M |
| Activos Totales | $73.9M | $74.1M | $73.0M | $75.3M |
| Pasivos Totales | $11.3M | $11.7M | $10.0M | $10.4M |
| Patrimonio Neto | $62.5M | $62.5M | $63.0M | $64.9M |
| Deuda Total | $8.1M | $7.9M | $7.6M | $7.6M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $3.2M | $2.6M | $3.6M | $3.0M | $26.9M | $6.8M | $3.3M | $4.2M | $3.9M | $3.5M |
| Amortizaciones | $544000 | $571000 | $525000 | $602000 | $729000 | $817000 | $814000 | $925000 | $873000 | $925000 |
| Compensación en Acciones | $190000 | $296000 | $432000 | $451000 | $375000 | $315000 | $147000 | $170000 | $463000 | $540000 |
| Cambio en Capital Circulante | $3.4M | $1.6M | -$2.2M | -$1.1M | -$8.8M | -$8.9M | -$775000 | $3.2M | $132000 | -$3.6M |
| Flujo de Caja Operativo | $6.8M | $4.0M | $2.0M | $3.1M | $18.3M | -$480000 | $4.3M | $8.5M | $5.7M | $2.4M |
| Inversiones (CapEx) | -$267000 | -$1.2M | -$606000 | -$1.3M | -$1.1M | -$2.5M | -$492000 | -$792000 | -$3.8M | -$639000 |
| Adquisiciones | 0 | $537000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$6.8M | -$4.2M | -$3.6M | -$2.5M | -$2.7M | -$4.4M | -$3.9M | -$4.0M | -$4.5M | -$3.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $6.6M | $2.8M | $1.4M | $1.8M | $17.1M | -$3.0M | $3.8M | $7.7M | $1.9M | $1.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $3.9M | $318000 | $12000 | $2.2M |
| Inversiones (CapEx) | -$99000 | -$266999 | -$117000 | -$142000 |
| Flujo de Caja Libre | $3.8M | $51000 | -$105000 | $2.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $136000 | $132000 | $132000 | $127000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -4.7% | +5.9% | +0.1% | +120.1% | -33.2% | -9.7% | -1.2% | -5.5% | +2.3% |
| Crecimiento Beneficio Neto (anual) | | -16.9% | +37.7% | -17.2% | +796.3% | -74.9% | -51.4% | +27.6% | -6.2% | -10.1% |
| Crecimiento BPA (anual) | | -5.3% | +44.4% | -11.5% | +769.6% | -74.5% | -49.0% | +34.6% | +0.0% | -2.9% |
| Cambio en Acciones (anual) | | -10.9% | -6.9% | -5.7% | +6.1% | -3.4% | -5.3% | -7.2% | -5.2% | -6.1% |
| Crecimiento FCF (anual) | | -57.6% | -50.0% | +29.5% | +849.5% | -117.5% | +226.0% | +102.5% | -75.3% | -8.5% |
| Margen Bruto | 36.8% | 39.6% | 38.0% | 36.4% | 49.2% | 36.9% | 35.0% | 37.3% | 39.6% | 38.1% |
| Margen Operativo | 8.0% | 6.6% | 8.3% | 6.5% | 30.8% | 11.5% | 7.5% | 6.7% | 6.0% | 6.5% |
| Margen EBITDA | 9.1% | 7.9% | 9.4% | 7.8% | 31.5% | 13.6% | 8.4% | 10.4% | 10.2% | 9.5% |
| Margen Neto | 6.9% | 6.0% | 7.8% | 6.4% | 26.2% | 9.8% | 5.3% | 6.8% | 6.8% | 6.0% |
| Margen FCF | 14.2% | 6.3% | 3.0% | 3.9% | 16.7% | -4.4% | 6.1% | 12.5% | 3.3% | 2.9% |
| Tasa Impositiva Efectiva | 24.1% | 28.3% | 17.9% | 18.5% | 16.6% | 20.5% | 25.3% | 22.8% | 21.7% | 24.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.39 | $0.19 | $0.10 | $0.14 | $1.23 | $-0.22 | $0.30 | $0.65 | $0.17 | $0.16 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $16.8M | $14.8M | $13.9M | $13.1M | $13.4M | $13.2M | $12.7M | $11.9M | $11.1M | $10.4M |
Qué mirar en Industrials
Aeroespacial, defensa, maquinaria, transporte. Semi-cíclicos. Clave: backlog, márgenes operativos, y conversión de FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — El mejor indicador de disciplina operativa en industriales
- ROIC — Industriales de calidad tienen ROIC >15% — el resto destruyen capital
- FCF conversion — FCF / Net Income — en industriales bueno >85%
- Deuda neta / EBITDA — Industriales cíclicos con deuda alta sufren mucho en recesión
- Capex / Ingresos — Mantener la maquinaria. <4% = posible infraversión (deterioro futuro)
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
Rentabilidad
| Rentabilidad sobre capital | 6.64% |
| Rentabilidad sobre capital invertido | 4.79% |
| Rentabilidad sobre activos | 5.58% |
| Margen bruto | 37.97% |
| Margen operativo | 7.50% |
| Margen neto | 6.79% |
Salud financiera
| Deuda / Patrimonio | 0.12 |
| Ratio corriente | 17.04 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 5.06 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 18.42 | 22.22 | 14.27 | 14.91 | 5.58 | 11.71 | 15.46 | 15.11 | 15.11 | 13.06 |
| P/VC | 1.80 | 1.89 | 1.60 | 1.36 | 2.52 | 1.28 | 0.84 | 1.02 | 0.95 | 0.74 |
| P/V | 1.28 | 1.35 | 1.11 | 0.97 | 1.46 | 1.15 | 0.82 | 1.02 | 1.02 | 0.78 |
| Margen Bruto | 36.8% | 39.6% | 38.0% | 36.4% | 49.2% | 36.9% | 35.0% | 37.3% | 39.6% | 38.1% |
| Margen Operativo | 8.0% | 6.6% | 8.3% | 6.5% | 30.8% | 11.5% | 7.5% | 6.7% | 6.0% | 6.5% |
| Margen Neto | 6.9% | 6.0% | 7.8% | 6.4% | 26.2% | 9.8% | 5.3% | 6.8% | 6.8% | 6.0% |