Estados financieros detallados de Asure Software, Inc. (ASUR): 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
Asure Software, Inc. registró ingresos de $140.5M en el último ejercicio fiscal, con un CAGR de 5 años del 16.5%.
Márgenes de los últimos 12 meses: margen bruto 68.1%, margen operativo -1.2%, margen neto -5.4%.
Al precio actual de $8.44, ASUR presenta beneficios negativos (P/E no significativo) y un ROE del -4.27%. La capitalización bursátil es de $244M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $35.5M | $54.4M | $89.0M | $73.2M | $65.5M | $76.1M | $95.8M | $119.1M | $119.8M | $140.5M |
| Coste de Ventas | $8.1M | $12.6M | $30.8M | $29.8M | $27.4M | $29.5M | $33.3M | $33.5M | $37.7M | $45.7M |
| Beneficio Bruto | $27.4M | $41.8M | $58.1M | $43.3M | $38.1M | $46.6M | $62.5M | $85.5M | $82.1M | $94.9M |
| I+D | $2.9M | $4.5M | $8.4M | $5.4M | $6.0M | $5.4M | $6.1M | $6.8M | $7.8M | $5.6M |
| Generales y Administrativos | $21.0M | $33.9M | $47.3M | $41.5M | $37.5M | $43.0M | $54.2M | $68.1M | $68.8M | $79.4M |
| Gastos Operativos | $26.2M | $42.8M | $64.4M | $93.7M | $53.0M | $59.4M | $73.8M | $88.5M | $92.8M | $103.3M |
| Beneficio Operativo | $1.2M | -$1.0M | -$6.3M | -$50.4M | -$14.9M | -$12.8M | -$11.3M | -$3.0M | -$10.7M | -$8.4M |
| EBITDA | $4.8M | $5.1M | $2.2M | $2.8M | $1.4M | $23.9M | $10.5M | $17.1M | $13.7M | $20.6M |
| Gastos por Intereses | $2.0M | $4.6M | $8.6M | $16.0M | $1.2M | $2.0M | $4.4M | $5.6M | $1.0M | $5.1M |
| Beneficio Antes de Impuestos | -$783000 | -$5.6M | -$14.8M | -$66.4M | -$16.0M | $4.0M | -$14.4M | -$9.1M | -$10.8M | -$12.5M |
| Impuestos | $189000 | $96000 | -$7.2M | -$24.1M | $337000 | $802000 | $112000 | $109000 | $933000 | $652000 |
| Beneficio Neto | -$972000 | -$5.7M | -$7.5M | $30.0M | -$16.3M | $3.2M | -$14.5M | -$9.2M | -$11.8M | -$13.1M |
| BPA | $-0.15 | $-0.53 | $-0.54 | $-2.73 | $-1.03 | $0.17 | $-0.72 | $-0.42 | $-0.45 | $-0.48 |
| BPA Diluido | $-0.15 | $-0.53 | $-0.54 | $-2.73 | $-1.03 | $0.16 | $-0.72 | $-0.42 | $-0.45 | $-0.48 |
| Acciones en Circulación (Diluidas) | $6.5M | $10.9M | $14.0M | $15.5M | $15.9M | $19.5M | $20.1M | $22.1M | $26.1M | $27.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $36.3M | $39.3M | $42.8M | $37.1M |
| Beneficio Bruto | $23.1M | $27.2M | $30.5M | $25.1M |
| Beneficio Operativo | -$3.5M | $1.8M | $2.3M | -$2.4M |
| EBITDA | $4.5M | $9.3M | $10.0M | $5.2M |
| Beneficio Neto | -$5.4M | $757000 | $625000 | -$4.4M |
| BPA | $-0.19 | $0.03 | $0.02 | $-0.15 |
| BPA Diluido | $-0.19 | $0.03 | $0.02 | $-0.15 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $12.8M | $27.8M | $15.4M | $28.8M | $28.6M | $13.4M | $17.0M | $30.3M | $21.4M | $25.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $8.1M | $13.4M | $5.1M | $10.6M | $3.8M | $5.3M | $12.1M | $14.2M | $18.2M | $15.9M |
| Inventario | $487000 | $509000 | $3.1M | $656000 | $449000 | $246000 | $251000 | $155000 | $195000 | $2.8M |
| Activos Corrientes | $45.6M | $86.6M | $159.9M | $169.5M | $358.2M | $249.8M | $243.3M | $267.2M | $237.3M | $278.4M |
| Inmovilizado Material | $1.9M | $5.2M | $8.9M | $14.8M | $14.7M | $14.7M | $18.5M | $19.5M | $23.7M | $33.8M |
| Fondo de Comercio | $26.3M | $77.3M | $111.4M | $68.7M | $74.0M | $86.0M | $86.0M | $86.0M | $94.7M | $115.8M |
| Activos Intangibles | $12.0M | $33.6M | $76.8M | $63.9M | $64.6M | $78.6M | $66.6M | $62.1M | $69.1M | $87.9M |
| Activos Totales | $85.8M | $203.3M | $361.1M | $320.1M | $515.4M | $433.2M | $419.9M | $443.9M | $436.6M | $531.4M |
| Cuentas por Pagar | $1.6M | $1.9M | $2.9M | $1.7M | $1.3M | $565000 | $2.2M | $2.6M | $1.4M | $2.2M |
| Deuda a Corto | $5.5M | $8.9M | $4.7M | $2.6M | $14.1M | $1.9M | $4.1M | $27000 | $7.0M | $4.3M |
| Pasivos Corrientes | $41.4M | $69.6M | $148.5M | $151.6M | $350.0M | $232.8M | $235.2M | $241.3M | $223.6M | $259.7M |
| Deuda a Largo | $24.6M | $67.0M | $106.6M | $24.1M | $12.2M | $33.1M | $30.8M | $4.3M | $5.7M | $63.3M |
| Pasivos Totales | $67.6M | $139.5M | $258.6M | $182.5M | $369.8M | $275.0M | $274.8M | $252.2M | $239.3M | $333.6M |
| Reservas | -$271.9M | -$277.6M | -$283.6M | -$253.6M | -$270.0M | -$266.8M | -$281.2M | -$290.4M | -$307.2M | -$320.4M |
| Patrimonio Neto | $18.2M | $63.8M | $102.5M | $137.6M | $145.7M | $158.2M | $145.1M | $191.7M | $197.3M | $197.8M |
| Deuda Total | $30.0M | $75.9M | $112.0M | $34.2M | $33.6M | $41.3M | $43.2M | $10.4M | $17.7M | $74.8M |
| Deuda Neta | $17.3M | $48.1M | $96.5M | $5.4M | $5.0M | $27.9M | $26.2M | -$19.9M | -$3.7M | $49.6M |
| Capital Circulante | $4.2M | $17.0M | $11.4M | $17.9M | $8.2M | $17.0M | $8.1M | $25.9M | $13.6M | $18.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $21.5M | $25.2M | $19.2M | $19.7M |
| Activos Totales | $447.1M | $531.4M | $518.7M | $477.9M |
| Pasivos Totales | $254.0M | $333.6M | $318.6M | $280.1M |
| Patrimonio Neto | $193.1M | $197.8M | $200.1M | $197.8M |
| Deuda Total | $77.2M | $74.8M | $75.6M | $74.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$972000 | -$5.7M | -$7.5M | $30.0M | -$16.3M | $3.2M | -$14.5M | -$9.2M | -$11.8M | -$13.1M |
| Amortizaciones | $3.6M | $6.1M | $12.9M | $18.2M | $16.2M | $17.8M | $20.4M | $20.6M | $23.5M | $28.0M |
| Compensación en Acciones | $226000 | $593000 | $1.7M | $2.3M | $2.4M | $3.0M | $3.2M | $5.4M | $6.4M | $7.7M |
| Cambio en Capital Circulante | -$5.2M | -$1.5M | -$8.2M | $1.1M | -$1.9M | -$14.8M | $5.3M | -$1.4M | -$7.8M | -$3.9M |
| Flujo de Caja Operativo | -$2.0M | -$36000 | -$7.1M | -$4.1M | $2.2M | $1.4M | $13.7M | $18.9M | $9.4M | $22.2M |
| Inversiones (CapEx) | -$436000 | -$3.1M | -$5.8M | -$4.8M | -$16.8M | -$29.8M | -$8.8M | -$16.3M | -$24.1M | -$787000 |
| Adquisiciones | -$12.0M | -$45.4M | -$67.0M | -$7.4M | -$13.1M | $29.7M | $6.5M | 0 | 0 | -$37.5M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$2.4M | -$3.1M | -$12.9M | -$9.0M | -$14.5M | -$28.4M | $4.8M | $2.6M | -$14.7M | $21.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $5.8M | $11.3M | $2.7M | $4.5M |
| Inversiones (CapEx) | -$12.5M | -$272000 | -$218000 | -$254000 |
| Flujo de Caja Libre | -$6.8M | $11.0M | $2.5M | $4.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.0M | $2.0M | $2.1M | $2.1M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +53.2% | +63.4% | -17.8% | -10.4% | +16.1% | +26.0% | +24.3% | +0.6% | +17.3% |
| Crecimiento Beneficio Neto (anual) | | -488.7% | -31.9% | +497.5% | -154.4% | +119.6% | -553.1% | +36.3% | -27.8% | -11.5% |
| Crecimiento BPA (anual) | | -253.3% | -1.9% | -405.6% | +62.3% | +116.5% | -523.5% | +41.7% | -7.1% | -6.7% |
| Cambio en Acciones (anual) | | +66.7% | +28.6% | +10.7% | +2.6% | +22.6% | +3.1% | +10.0% | +17.7% | +5.3% |
| Crecimiento FCF (anual) | | -26.4% | -317.7% | +30.7% | -62.3% | -95.4% | +117.0% | -45.5% | -659.2% | +245.3% |
| Margen Bruto | 77.2% | 76.8% | 65.3% | 59.2% | 58.2% | 61.2% | 65.2% | 71.8% | 68.5% | 67.5% |
| Margen Operativo | 3.5% | -1.8% | -7.0% | -68.9% | -22.7% | -16.8% | -11.8% | -2.5% | -9.0% | -6.0% |
| Margen EBITDA | 13.6% | 9.3% | 2.5% | 3.9% | 2.2% | 31.4% | 11.0% | 14.4% | 11.4% | 14.6% |
| Margen Neto | -2.7% | -10.5% | -8.5% | 41.0% | -24.9% | 4.2% | -15.1% | -7.7% | -9.8% | -9.3% |
| Margen FCF | -6.9% | -5.7% | -14.5% | -12.2% | -22.2% | -37.4% | 5.0% | 2.2% | -12.3% | 15.2% |
| Tasa Impositiva Efectiva | -24.1% | -1.7% | 48.9% | 36.3% | -2.1% | 20.1% | -0.8% | -1.2% | -8.6% | -5.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.37 | $-0.28 | $-0.92 | $-0.58 | $-0.91 | $-1.46 | $0.24 | $0.12 | $-0.57 | $0.78 |
| 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) | $6.5M | $10.8M | $14.0M | $15.5M | $15.9M | $19.3M | $20.1M | $22.1M | $26.1M | $27.4M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -4.27% |
| Rentabilidad sobre capital invertido | -0.65% |
| Rentabilidad sobre activos | -1.76% |
| Margen bruto | 68.12% |
| Margen operativo | -1.16% |
| Margen neto | -5.42% |
Salud financiera
| Deuda / Patrimonio | 0.38 |
| Ratio corriente | 1.06 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -56.73 | -26.64 | -9.41 | -3.00 | -6.89 | 46.06 | -12.97 | -22.67 | -20.91 | -19.62 |
| P/VC | 3.02 | 2.39 | 0.69 | 0.92 | 0.78 | 0.96 | 1.30 | 1.10 | 1.24 | 1.31 |
| P/V | 1.55 | 2.80 | 0.80 | 1.73 | 1.72 | 1.99 | 1.96 | 1.77 | 2.05 | 1.84 |
| Margen Bruto | 77.2% | 76.8% | 65.3% | 59.2% | 58.2% | 61.2% | 65.2% | 71.8% | 68.5% | 67.5% |
| Margen Operativo | 3.5% | -1.8% | -7.0% | -68.9% | -22.7% | -16.8% | -11.8% | -2.5% | -9.0% | -6.0% |
| Margen Neto | -2.7% | -10.5% | -8.5% | 41.0% | -24.9% | 4.2% | -15.1% | -7.7% | -9.8% | -9.3% |