Estados financieros detallados de Astronics Corporation (ATRO): 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
Astronics Corporation registró ingresos de $862.1M en el último ejercicio fiscal, con un CAGR de 5 años del 11.4%.
Márgenes de los últimos 12 meses: margen bruto 32.5%, margen operativo 13.7%, margen neto 8.4%. El flujo de caja libre creció a un CAGR del 7.6% en 5 años.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $633.1M | $624.5M | $803.3M | $772.7M | $502.6M | $444.9M | $534.9M | $689.2M | $795.4M | $862.1M |
| Coste de Ventas | $473.7M | $487.4M | $622.6M | $616.6M | $405.7M | $379.5M | $463.4M | $568.4M | $627.1M | $604.0M |
| Beneficio Bruto | $159.5M | $137.1M | $180.7M | $156.1M | $96.8M | $65.4M | $71.5M | $120.8M | $168.3M | $258.2M |
| I+D | $90.2M | $95.0M | $114.3M | 0 | 0 | 0 | 0 | 0 | 0 | $43.5M |
| Generales y Administrativos | $86.3M | $90.5M | $117.0M | $143.4M | $110.5M | $99.1M | $101.6M | $127.5M | $141.9M | $121.2M |
| Gastos Operativos | $86.3M | $90.5M | $117.0M | $154.4M | $197.5M | $94.0M | $101.6M | $127.5M | $141.9M | $181.7M |
| Beneficio Operativo | $73.1M | $30.4M | $63.7M | $1.7M | -$100.7M | -$28.7M | -$30.0M | -$6.7M | $26.5M | $76.4M |
| EBITDA | $99.0M | $30.4M | $98.7M | $45.8M | $18.2M | -$4.7M | -$2.0M | -$207000 | $16.6M | $66.3M |
| Gastos por Intereses | $4.4M | $5.4M | $9.7M | $6.1M | $6.7M | 0 | 0 | 0 | $22.0M | $12.6M |
| Beneficio Antes de Impuestos | $68.8M | $25.0M | $52.3M | $68.3M | -$112.4M | -$27.0M | -$29.8M | -$26.3M | -$7.9M | $31.9M |
| Impuestos | $20.4M | $5.3M | $5.5M | $16.3M | $3.4M | -$1.4M | $6.0M | $110000 | $8.3M | $2.6M |
| Beneficio Neto | $48.4M | $19.7M | $46.8M | $52.0M | -$115.8M | -$25.6M | -$35.7M | -$26.4M | -$16.2M | $29.4M |
| BPA | $1.44 | $0.60 | $1.45 | $1.62 | $-3.76 | $-0.82 | $-1.11 | $-0.80 | $-0.46 | $0.82 |
| BPA Diluido | $1.40 | $0.58 | $1.41 | $1.60 | $-3.76 | $-0.82 | $-1.11 | $-0.80 | $-0.46 | $0.81 |
| Acciones en Circulación (Diluidas) | $34.5M | $33.7M | $33.1M | $32.5M | $30.8M | $31.2M | $32.2M | $33.1M | $35.2M | $38.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q2 | 2026-Q3 |
|---|
| Ingresos | $211.4M | $240.1M | $230.6M | $260.0M |
| Beneficio Bruto | $64.5M | $80.0M | $75.1M | $86.9M |
| Beneficio Operativo | $23.1M | $37.9M | $27.2M | $40.5M |
| EBITDA | -$4.2M | $41.3M | $33.0M | $43.1M |
| Beneficio Neto | -$11.1M | $29.6M | $25.5M | $35.1M |
| BPA | $-0.31 | $0.82 | $0.71 | $0.82 |
| BPA Diluido | $-0.31 | $0.78 | $0.67 | $0.75 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $17.9M | $17.9M | $16.6M | $31.9M | $40.4M | $29.8M | $13.8M | $11.3M | $9.3M | $18.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $109.4M | $132.6M | $182.3M | $148.0M | $93.1M | $107.4M | $147.8M | $172.1M | $191.4M | $204.7M |
| Inventario | $116.6M | $150.2M | $138.7M | $145.8M | $157.1M | $157.6M | $188.0M | $191.8M | $199.7M | $196.9M |
| Activos Corrientes | $255.1M | $315.3M | $374.2M | $343.1M | $316.9M | $339.9M | $365.3M | $389.8M | $426.2M | $437.7M |
| Inmovilizado Material | $122.8M | $125.8M | $120.9M | $138.6M | $129.1M | $111.4M | $103.7M | $113.3M | $104.3M | $139.3M |
| Fondo de Comercio | $115.2M | $125.6M | $125.0M | $145.0M | $58.3M | $58.3M | $58.2M | $58.2M | $58.1M | $62.9M |
| Activos Intangibles | $98.1M | $153.5M | $133.4M | $127.3M | $109.9M | $94.3M | $79.3M | $65.4M | $52.5M | $55.4M |
| Activos Totales | $604.3M | $736.0M | $774.6M | $782.7M | $619.7M | $609.1M | $615.0M | $649.0M | $648.8M | $706.7M |
| Cuentas por Pagar | $25.1M | $41.8M | $50.7M | $35.8M | $26.4M | $34.9M | $64.2M | $61.1M | $43.0M | $41.1M |
| Deuda a Corto | $2.6M | $2.7M | 0 | $6.6M | $7.1M | 0 | $9.0M | $14.2M | 0 | $5.8M |
| Pasivos Corrientes | $86.6M | $102.9M | $128.1M | $120.6M | $93.7M | $118.6M | $151.6M | $143.3M | $156.2M | $141.3M |
| Deuda a Largo | $145.5M | $269.1M | $232.1M | $188.0M | $173.0M | $163.0M | $159.5M | $159.2M | $168.7M | $334.5M |
| Pasivos Totales | $266.9M | $406.0M | $388.0M | $393.9M | $349.4M | $352.5M | $375.1M | $399.5M | $392.7M | $566.6M |
| Reservas | $305.5M | $325.2M | $376.6M | $428.6M | $312.8M | $287.2M | $240.4M | $209.8M | $192.2M | $216.7M |
| Patrimonio Neto | $337.4M | $329.9M | $386.6M | $388.9M | $270.4M | $256.6M | $239.9M | $249.5M | $256.1M | $140.1M |
| Deuda Total | $148.1M | $271.8M | $238.8M | $218.5M | $197.4M | $181.8M | $178.4M | $197.9M | $193.9M | $378.4M |
| Deuda Neta | $130.2M | $253.9M | $222.1M | $186.6M | $157.0M | $152.0M | $164.6M | $186.6M | $184.6M | $360.2M |
| Capital Circulante | $168.5M | $212.4M | $246.1M | $222.4M | $223.2M | $221.2M | $213.7M | $246.4M | $270.0M | $296.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q2 | 2026-Q3 |
|---|
| Caja y Equivalentes | $13.5M | $18.2M | $11.9M | $9.0M |
| Activos Totales | $682.2M | $706.7M | $747.1M | $760.8M |
| Pasivos Totales | $573.3M | $566.6M | $585.4M | $562.6M |
| Patrimonio Neto | $108.9M | $140.1M | $161.7M | $198.2M |
| Deuda Total | $379.4M | $378.4M | $379.1M | $353.0M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $48.4M | $19.7M | $46.8M | $52.0M | -$115.8M | -$25.6M | -$35.7M | -$26.4M | -$16.2M | $29.4M |
| Amortizaciones | $25.8M | $27.1M | $35.0M | $33.0M | $31.9M | $29.0M | $27.8M | $26.1M | $24.5M | $21.8M |
| Compensación en Acciones | $2.3M | $2.6M | $3.1M | $3.8M | $5.2M | $6.5M | $6.5M | $11.4M | $12.0M | $6.8M |
| Cambio en Capital Circulante | -$25.5M | -$24.3M | -$30.0M | -$18.0M | -$9.8M | -$22.9M | -$33.1M | -$55.8M | -$32.3M | -$39.5M |
| Flujo de Caja Operativo | $48.9M | $37.8M | $54.9M | $42.7M | $37.3M | -$5.5M | -$28.3M | -$23.9M | $30.6M | $74.8M |
| Inversiones (CapEx) | -$13.0M | -$13.5M | -$16.3M | -$12.1M | -$7.5M | -$6.0M | -$7.7M | -$7.6M | -$8.4M | -$31.7M |
| Adquisiciones | 0 | -$114.0M | 0 | $76.0M | 0 | $9.2M | $22.1M | $3.5M | 0 | -$22.1M |
| Recompra de Acciones | -$17.6M | -$32.4M | 0 | -$50.8M | -$7.7M | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $35.8M | $24.3M | $38.6M | $30.6M | $29.9M | -$11.6M | -$36.0M | -$31.6M | $22.1M | $43.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q2 | 2026-Q3 |
|---|
| Flujo de Caja Operativo | $34.9M | $27.6M | $10.6M | $30.1M |
| Inversiones (CapEx) | -$13.2M | -$11.8M | -$11.2M | -$5.7M |
| Flujo de Caja Libre | $21.8M | $15.8M | -$554000 | $24.4M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $1.5M | $2.6M | $2.3M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -1.4% | +28.6% | -3.8% | -35.0% | -11.5% | +20.2% | +28.8% | +15.4% | +8.4% |
| Crecimiento Beneficio Neto (anual) | | -59.4% | +137.8% | +11.1% | -322.6% | +77.9% | -39.8% | +26.1% | +38.6% | +281.1% |
| Crecimiento BPA (anual) | | -58.3% | +141.7% | +11.7% | -332.1% | +78.2% | -35.4% | +27.9% | +42.5% | +278.3% |
| Cambio en Acciones (anual) | | -2.4% | -1.7% | -2.0% | -5.1% | +1.3% | +3.2% | +2.8% | +6.5% | +9.2% |
| Crecimiento FCF (anual) | | -32.1% | +58.7% | -20.6% | -2.4% | -138.7% | -211.2% | +12.2% | +170.1% | +94.8% |
| Margen Bruto | 25.2% | 22.0% | 22.5% | 20.2% | 19.3% | 14.7% | 13.4% | 17.5% | 21.2% | 29.9% |
| Margen Operativo | 11.6% | 4.9% | 7.9% | 0.2% | -20.0% | -6.4% | -5.6% | -1.0% | 3.3% | 8.9% |
| Margen EBITDA | 15.6% | 4.9% | 12.3% | 5.9% | 3.6% | -1.1% | -0.4% | -0.0% | 2.1% | 7.7% |
| Margen Neto | 7.6% | 3.2% | 5.8% | 6.7% | -23.0% | -5.7% | -6.7% | -3.8% | -2.0% | 3.4% |
| Margen FCF | 5.7% | 3.9% | 4.8% | 4.0% | 5.9% | -2.6% | -6.7% | -4.6% | 2.8% | 5.0% |
| Tasa Impositiva Efectiva | 29.6% | 21.3% | 10.5% | 23.8% | -3.0% | 5.1% | -20.0% | -0.4% | -106.1% | 8.1% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $1.04 | $0.72 | $1.16 | $0.94 | $0.97 | $-0.37 | $-1.12 | $-0.95 | $0.63 | $1.12 |
| 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) | $33.5M | $32.9M | $32.4M | $32.1M | $30.8M | $31.2M | $32.2M | $33.0M | $35.2M | $38.5M |
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
| Margen bruto | 32.54% |
| Margen operativo | 13.66% |
| Margen neto | 8.40% |
Salud financiera
| Deuda / Patrimonio | 1.78 |
| Ratio corriente | 2.97 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 17.03 | 50.08 | 17.50 | 14.38 | -2.93 | -12.20 | -7.73 | -18.15 | -28.91 | 55.12 |
| P/VC | 2.44 | 2.99 | 2.12 | 1.92 | 1.26 | 1.22 | 1.15 | 1.92 | 1.83 | 12.42 |
| P/V | 1.30 | 1.58 | 1.02 | 0.97 | 0.68 | 0.70 | 0.52 | 0.70 | 0.59 | 2.02 |
| Margen Bruto | 25.2% | 22.0% | 22.5% | 20.2% | 19.3% | 14.7% | 13.4% | 17.5% | 21.2% | 29.9% |
| Margen Operativo | 11.6% | 4.9% | 7.9% | 0.2% | -20.0% | -6.4% | -5.6% | -1.0% | 3.3% | 8.9% |
| Margen Neto | 7.6% | 3.2% | 5.8% | 6.7% | -23.0% | -5.7% | -6.7% | -3.8% | -2.0% | 3.4% |