Estados financieros detallados de Binah Capital Group, Inc. (BCG): 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
Binah Capital Group, Inc. registró ingresos de $182.0M en el último ejercicio fiscal, con un CAGR de 5 años del 10.5%.
Márgenes de los últimos 12 meses: margen bruto 7.6%, margen operativo 3.7%, margen neto 1.3%. El flujo de caja libre creció a un CAGR del 26.3% en 5 años.
Al precio actual de $1.25, BCG cotiza a un P/E de 53.73 y un ROE del 88.80%. La capitalización bursátil es de $21M.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $110.4M | $167.3M | $172.4M | $159.9M | $164.4M | $182.0M |
| Coste de Ventas | $101.3M | $155.0M | $159.9M | $149.6M | $152.5M | $168.2M |
| Beneficio Bruto | $9.1M | $12.3M | $12.5M | $10.3M | $11.9M | $13.9M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $6.3M | $5.0M | $7.0M | $5.9M | $8.1M | $3.4M |
| Gastos Operativos | $10.7M | $10.3M | $10.4M | $9.6M | $10.4M | $7.1M |
| Beneficio Operativo | -$1.6M | $2.0M | $2.1M | $734000 | $1.5M | $6.8M |
| EBITDA | $1.1M | $6.5M | $6.3M | $6.8M | $1.9M | $5.4M |
| Gastos por Intereses | $2.6M | $2.9M | $3.3M | $5.1M | $4.0M | $2.1M |
| Beneficio Antes de Impuestos | -$3.8M | $2.0M | $1.5M | $486000 | -$3.1M | $2.6M |
| Impuestos | -$372496 | -$781448 | $580000 | -$85000 | $1.4M | $303000 |
| Beneficio Neto | -$3.4M | $2.8M | $911000 | $571000 | -$5.3M | $2.3M |
| BPA | $-0.21 | $0.17 | $0.06 | $0.04 | $-0.32 | $0.05 |
| BPA Diluido | $-0.21 | $0.17 | $0.06 | $0.04 | $-0.32 | $0.04 |
| Acciones en Circulación (Diluidas) | $16.1M | $16.1M | $16.1M | $16.1M | $16.6M | $17.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $44.8M | $48.6M | $48.7M | $46.5M |
| Beneficio Bruto | $2.9M | $4.6M | $10.2M | $9.9M |
| Beneficio Operativo | $1.1M | $3.0M | $3.6M | $1.0M |
| EBITDA | $2.7M | $409000 | $3.8M | $1.2M |
| Beneficio Neto | $1.8M | $167000 | $1.9M | $337000 |
| BPA | $0.08 | $-0.01 | $0.09 | $0.02 |
| BPA Diluido | $0.08 | $-0.01 | $0.09 | $0.02 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $6.7M | $7.3M | $7.8M | $7.2M | $7.5M | $9.7M |
| Inversiones a Corto | 0 | 0 | 0 | $400000 | 0 | 0 |
| Cuentas por Cobrar | $9.3M | $13.0M | $10.5M | $10.4M | $11.0M | $12.4M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $16.0M | $20.4M | $18.3M | $18.1M | $19.5M | $23.1M |
| Inmovilizado Material | $8.3M | $8.1M | $6.0M | $5.3M | $4.3M | $3.4M |
| Fondo de Comercio | $34.2M | $39.8M | $39.8M | $39.8M | $39.8M | $39.8M |
| Activos Intangibles | $4.2M | $3.1M | $2.2M | $1.6M | $1.0M | $671000 |
| Activos Totales | $64.3M | $74.1M | $68.7M | $67.4M | $66.7M | $70.2M |
| Cuentas por Pagar | $18.4M | $21.2M | $8.9M | $9.1M | $21.7M | $25.7M |
| Deuda a Corto | 0 | 0 | $39.1M | 0 | 0 | 0 |
| Pasivos Corrientes | $18.4M | $21.2M | $63.8M | $19.8M | $21.7M | $25.7M |
| Deuda a Largo | $34.3M | $40.3M | 0 | $38.2M | $25.0M | $23.0M |
| Pasivos Totales | $59.0M | $67.9M | $63.8M | $62.3M | $65.4M | $67.6M |
| Reservas | 0 | -$20.2M | -$19.3M | -$18.7M | -$23.3M | -$22.6M |
| Patrimonio Neto | $5.3M | $6.2M | $4.9M | $5.1M | $1.2M | $2.6M |
| Deuda Total | $40.6M | $46.6M | $39.1M | $42.5M | $28.8M | $26.2M |
| Deuda Neta | $34.0M | $39.3M | $31.2M | $34.9M | $21.3M | $16.5M |
| Capital Circulante | -$2.4M | -$866964 | -$45.5M | -$1.7M | -$2.2M | -$2.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $8.3M | $9.7M | $10.5M | $10.9M |
| Activos Totales | $67.6M | $70.2M | $71.2M | $71.2M |
| Pasivos Totales | $49.5M | $67.6M | $50.8M | $50.4M |
| Patrimonio Neto | $18.1M | $2.6M | $20.4M | $20.8M |
| Deuda Total | $26.8M | $26.2M | $25.8M | $25.5M |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$3.4M | $2.8M | $911000 | $571000 | -$4.6M | $2.3M |
| Amortizaciones | $2.2M | $1.6M | $1.5M | $1.1M | $1.0M | $697000 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | $725000 |
| Cambio en Capital Circulante | $311999 | -$1.1M | $321000 | -$1.9M | $314000 | $1.5M |
| Flujo de Caja Operativo | $2.1M | $2.5M | $5.4M | $2.6M | -$617000 | $5.2M |
| Inversiones (CapEx) | -$563266 | -$422880 | -$327000 | -$80000 | -$85000 | -$61000 |
| Adquisiciones | -$438901 | -$4.6M | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$1.1M | -$2.2M | 0 | -$200000 | -$632000 | -$830000 |
| Flujo de Caja Libre | $1.6M | $2.1M | $5.0M | $2.5M | -$702000 | $5.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $931000 | $3.1M | $538000 | $1.1M |
| Inversiones (CapEx) | -$47000 | -$6000 | -$11000 | -$15000 |
| Flujo de Caja Libre | $884000 | $3.1M | $527000 | $1.1M |
| Dividendos Pagados | -$207000 | -$213000 | -$209000 | -$213000 |
| Compensación en Acciones | $163000 | $170000 | 0 | $548000 |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +51.5% | +3.1% | -7.3% | +2.8% | +10.7% |
| Crecimiento Beneficio Neto (anual) | | +182.1% | -67.3% | -37.3% | -1026.8% | +143.6% |
| Crecimiento BPA (anual) | | +181.0% | -66.8% | -37.3% | -1004.0% | +115.6% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +0.0% | +2.9% | +2.3% |
| Crecimiento FCF (anual) | | +33.1% | +139.4% | -50.9% | -128.4% | +825.1% |
| Margen Bruto | 8.2% | 7.3% | 7.3% | 6.4% | 7.2% | 7.6% |
| Margen Operativo | -1.5% | 1.2% | 1.2% | 0.5% | 0.9% | 3.7% |
| Margen EBITDA | 1.0% | 3.9% | 3.7% | 4.3% | 1.2% | 3.0% |
| Margen Neto | -3.1% | 1.7% | 0.5% | 0.4% | -3.2% | 1.3% |
| Margen FCF | 1.4% | 1.3% | 2.9% | 1.5% | -0.4% | 2.8% |
| Tasa Impositiva Efectiva | 9.9% | -39.0% | 38.9% | -17.5% | -45.0% | 11.6% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.10 | $0.13 | $0.31 | $0.15 | $-0.04 | $0.30 |
| Dividendo por Acción | $0.07 | $0.14 | $0.00 | $0.01 | $0.04 | $0.05 |
| Acciones en Circulación (Básicas) | $16.1M | $16.1M | $16.1M | $16.1M | $16.6M | $16.7M |
Qué mirar en Servicios Financieros
Asset managers, brokers, fintech, bolsas. No son bancos — mira AUM, comisiones y calidad del FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — Los buenos asset managers tienen márgenes >30% por escalabilidad
- ROE — Servicios financieros de calidad tienen ROE >15% consistente
- FCF / Net Income — Calidad del beneficio — >90% esperado en negocios ligeros en capital
- Debt / Equity — Fintech y brokers con D/E alto son bombas de relojería en crisis
- P/E vs 5y propio — Asset managers tienen múltiplos estables en rangos conocidos
- Dividend yield + buybacks — Estos negocios devuelven mucho capital — mirar yield total (div + recompras)
Rentabilidad
| Rentabilidad sobre capital | 88.80% |
| Rentabilidad sobre capital invertido | 13.54% |
| Rentabilidad sobre activos | 3.29% |
| Margen bruto | 7.62% |
| Margen operativo | 3.74% |
| Margen neto | 1.27% |
Salud financiera
| Deuda / Patrimonio | 10.09 |
| Ratio corriente | 0.90 |
| Piotroski F-Score | 7 |
| Altman Z-Score | 2.84 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -45.24 | 55.88 | 168.14 | 268.36 | -9.19 | 57.60 |
| P/VC | 28.90 | 24.67 | 31.29 | 30.03 | 39.63 | 18.46 |
| P/V | 1.39 | 0.92 | 0.89 | 0.96 | 0.30 | 0.26 |
| Margen Bruto | 8.2% | 7.3% | 7.3% | 6.4% | 7.2% | 7.6% |
| Margen Operativo | -1.5% | 1.2% | 1.2% | 0.5% | 0.9% | 3.7% |
| Margen Neto | -3.1% | 1.7% | 0.5% | 0.4% | -3.2% | 1.3% |