Estados financieros detallados de BigBear.ai Holdings, Inc. (BBAI): 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
BigBear.ai Holdings, Inc. registró ingresos de $127.7M en el último ejercicio fiscal, con un CAGR de 5 años del 6.9%.
Márgenes de los últimos 12 meses: margen bruto 27.9%, margen operativo -72.8%, margen neto -65.2%.
Al precio actual de $2.73, BBAI presenta beneficios negativos (P/E no significativo) y un ROE del -12.34%. La capitalización bursátil es de $1.3B.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $49.4M | $73.6M | $91.3M | $145.6M | $155.0M | $155.2M | $158.2M | $127.7M |
| Coste de Ventas | $37.7M | $56.1M | $69.6M | $111.5M | $112.0M | $114.6M | $113.0M | $99.2M |
| Beneficio Bruto | $11.7M | $17.5M | $21.7M | $34.1M | $43.0M | $40.6M | $45.2M | $28.5M |
| I+D | 0 | $110000 | $615000 | $6.0M | $8.4M | $5.0M | $10.9M | $16.8M |
| Generales y Administrativos | $7.8M | $11.0M | $15.5M | $106.5M | $90.5M | $65.8M | $80.0M | $95.1M |
| Gastos Operativos | $7.8M | $11.1M | $26.2M | $112.5M | $153.5M | $79.6M | $178.6M | $111.9M |
| Beneficio Operativo | $3.9M | $6.4M | -$4.6M | -$78.5M | -$110.5M | -$39.0M | -$133.4M | -$83.4M |
| EBITDA | $4.0M | $6.4M | $6.6M | -$107.4M | -$48.2M | -$22.3M | -$258.3M | -$260.5M |
| Gastos por Intereses | $42000 | $127000 | 0 | $7.8M | $14.4M | $14.2M | $25.6M | $18.1M |
| Beneficio Antes de Impuestos | $3.9M | $6.3M | $80999 | -$122.5M | -$109.5M | -$70.4M | -$295.8M | -$315.6M |
| Impuestos | $12000 | $9000 | $2.6M | $1.1M | $1.9M | $221999 | -$256000 | -$21.7M |
| Beneficio Neto | $3.9M | $6.2M | -$2.5M | -$123.6M | -$111.4M | -$70.7M | -$295.5M | -$293.9M |
| BPA | $0.04 | $0.06 | $0.00 | $-1.15 | $-0.95 | $-0.40 | $-1.27 | $-0.82 |
| BPA Diluido | $0.04 | $0.06 | $0.00 | $-1.15 | $-0.95 | $-0.40 | $-1.27 | $-0.82 |
| Acciones en Circulación (Diluidas) | $105.0M | $105.0M | $105.0M | $107.0M | $127.7M | $149.2M | $233.6M | $358.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $33.1M | $27.3M | $34.4M | $36.7M |
| Beneficio Bruto | $7.4M | $5.5M | $11.7M | $12.1M |
| Beneficio Operativo | -$21.2M | -$24.3M | -$23.0M | -$27.4M |
| EBITDA | $11.3M | $2.3M | -$49.4M | -$18.6M |
| Beneficio Neto | $2.5M | -$5.8M | -$56.8M | -$25.7M |
| BPA | $0.01 | $-0.01 | $-0.12 | $-0.05 |
| BPA Diluido | $-0.03 | $-0.01 | $-0.12 | $-0.05 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.6M | $9.7M | $68.9M | $12.6M | $32.6M | $50.1M | $87.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $13.8M | $24.0M | $29.2M | $31.4M | $26.8M | $39.8M | $22.7M |
| Inventario | 0 | 0 | $101.0M | 0 | 0 | 0 | 0 |
| Activos Corrientes | $15.8M | $34.3M | $206.2M | $54.3M | $63.8M | $93.8M | $330.5M |
| Inmovilizado Material | $149000 | $863000 | $1.1M | $6.1M | $5.0M | $10.8M | $8.6M |
| Fondo de Comercio | 0 | $91.3M | $91.6M | $48.7M | $48.7M | $119.1M | $241.1M |
| Activos Intangibles | 0 | $90.5M | $83.6M | $85.7M | $82.0M | $119.1M | $139.5M |
| Activos Totales | $15.9M | $218.4M | $383.3M | $195.3M | $199.9M | $343.8M | $894.5M |
| Cuentas por Pagar | $1.1M | $2.7M | $5.5M | $15.4M | $11.0M | $8.5M | $6.1M |
| Deuda a Corto | 0 | $1.1M | $4.2M | $2.1M | $1.2M | $818000 | $17.7M |
| Pasivos Corrientes | $4.3M | $12.1M | $70.0M | $35.8M | $68.6M | $203.0M | $185.5M |
| Deuda a Largo | 0 | $105.9M | $190.4M | $192.3M | $194.3M | $135.4M | $6.7M |
| Pasivos Totales | $4.3M | $118.0M | $261.0M | $233.2M | $267.2M | $347.5M | $282.7M |
| Reservas | $6.7M | -$7.8M | -$131.4M | -$253.1M | -$313.4M | -$571.6M | -$865.6M |
| Patrimonio Neto | $11.7M | $100.4M | $122.4M | -$37.9M | -$67.3M | -$3.7M | $611.9M |
| Deuda Total | 0 | $107.0M | $194.6M | $200.3M | $200.6M | $146.4M | $24.3M |
| Deuda Neta | -$1.6M | $97.3M | $125.7M | $187.6M | $168.0M | $96.3M | -$62.8M |
| Capital Circulante | $11.5M | $22.3M | $136.2M | $18.6M | -$4.8M | -$109.2M | $145.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $456.6M | $87.1M | $100.7M | $36.3M |
| Activos Totales | $919.8M | $894.5M | $861.7M | $841.3M |
| Pasivos Totales | $309.7M | $282.7M | $71.3M | $71.0M |
| Patrimonio Neto | $610.0M | $611.9M | $790.4M | $770.3M |
| Deuda Total | $112.9M | $24.3M | $24.1M | $22.8M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $3.9M | $6.2M | -$2.5M | -$123.6M | -$111.4M | -$70.7M | -$295.5M | -$293.9M |
| Amortizaciones | $50000 | $50000 | $1.1M | $7.3M | $7.8M | $7.9M | $11.9M | $15.3M |
| Compensación en Acciones | 0 | $104000 | $80000 | $60.6M | $10.9M | $18.7M | $21.1M | $23.3M |
| Cambio en Capital Circulante | -$2.0M | -$2.3M | $4.0M | -$2.1M | $505000 | $3.6M | -$13.6M | $5.0M |
| Flujo de Caja Operativo | $1.9M | $4.1M | $1.2M | -$19.8M | -$48.9M | -$18.3M | -$38.1M | -$42.0M |
| Inversiones (CapEx) | -$60000 | -$18000 | -$276000 | -$645000 | -$769000 | -$3.8M | -$11.1M | -$4.4M |
| Adquisiciones | 0 | 0 | -$184.7M | -$224000 | -$4.5M | 0 | $13.9M | -$229.0M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$100.9M | -$5.7M | 0 | -$551000 |
| Dividendos Pagados | -$2.6M | -$839000 | -$9.8M | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $1.8M | $4.1M | $921999 | -$20.4M | -$49.7M | -$22.1M | -$49.2M | -$46.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$9.6M | -$21.8M | -$18.0M | -$22.2M |
| Inversiones (CapEx) | -$1.3M | -$252000 | -$319000 | -$316000 |
| Flujo de Caja Libre | -$10.9M | -$22.1M | -$18.3M | -$22.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $5.3M | $6.3M | $3.4M | $4.7M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +48.9% | +24.0% | +59.4% | +6.5% | +0.1% | +2.0% | -19.3% |
| Crecimiento Beneficio Neto (anual) | | +61.7% | -140.8% | -4747.1% | +9.9% | +36.6% | -318.3% | +0.6% |
| Crecimiento BPA (anual) | | +61.7% | -100.0% | | +17.4% | +57.9% | -217.5% | +35.4% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +1.9% | +19.3% | +16.9% | +56.5% | +53.6% |
| Crecimiento FCF (anual) | | +124.9% | -77.5% | -2315.5% | -143.2% | +55.4% | -122.4% | +5.9% |
| Margen Bruto | 23.7% | 23.8% | 23.7% | 23.4% | 27.7% | 26.2% | 28.6% | 22.3% |
| Margen Operativo | 7.9% | 8.7% | -5.0% | -53.9% | -71.3% | -25.2% | -84.3% | -65.3% |
| Margen EBITDA | 8.0% | 8.7% | 7.2% | -73.8% | -31.1% | -14.4% | -163.2% | -204.1% |
| Margen Neto | 7.8% | 8.5% | -2.8% | -84.9% | -71.8% | -45.5% | -186.8% | -230.2% |
| Margen FCF | 3.7% | 5.6% | 1.0% | -14.0% | -32.1% | -14.3% | -31.1% | -36.3% |
| Tasa Impositiva Efectiva | 0.3% | 0.1% | 3247.0% | -0.9% | -1.7% | -0.3% | 0.1% | 6.9% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.02 | $0.04 | $0.01 | $-0.19 | $-0.39 | $-0.15 | $-0.21 | $-0.13 |
| Dividendo por Acción | $0.02 | $0.01 | $0.09 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $105.0M | $105.0M | $105.0M | $107.0M | $127.7M | $149.2M | $233.6M | $358.8M |
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 | -12.34% |
| Rentabilidad sobre capital invertido | -12.08% |
| Rentabilidad sobre activos | -10.20% |
| Margen bruto | 27.92% |
| Margen operativo | -72.83% |
| Margen neto | -65.20% |
Salud financiera
| Deuda / Patrimonio | 0.03 |
| Ratio corriente | 5.67 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 267.12 | 165.21 | -404.92 | -4.92 | -0.71 | -5.35 | -3.50 | -6.59 |
| P/VC | 0.00 | 88.41 | 10.28 | 4.95 | -2.27 | -4.74 | -279.90 | 3.17 |
| P/V | 20.88 | 14.02 | 11.30 | 4.16 | 0.56 | 2.06 | 6.57 | 15.18 |
| Margen Bruto | 23.7% | 23.8% | 23.7% | 23.4% | 27.7% | 26.2% | 28.6% | 22.3% |
| Margen Operativo | 7.9% | 8.7% | -5.0% | -53.9% | -71.3% | -25.2% | -84.3% | -65.3% |
| Margen Neto | 7.8% | 8.5% | -2.8% | -84.9% | -71.8% | -45.5% | -186.8% | -230.2% |