Estados financieros detallados de Bank First Corporation (BFC): 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
Bank First Corporation registró ingresos de $240.4M en el último ejercicio fiscal, con un CAGR de 5 años del 15.5%. El beneficio neto alcanzó $71.5M, con un CAGR a 5 años del 13.4%.
Márgenes de los últimos 12 meses: margen bruto 74.1%, margen operativo 34.5%, margen neto 27.8%. El flujo de caja libre creció a un CAGR del 7.5% en 5 años.
Al precio actual de $150.54, BFC cotiza a un P/E de 19.91 y un ROE del 11.14%. La capitalización bursátil es de $1.7B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $50.0M | $59.3M | $84.5M | $97.1M | $117.0M | $116.8M | $130.8M | $186.5M | $223.2M | $240.4M |
| Coste de Ventas | $6.3M | $8.8M | $17.8M | $24.7M | $21.0M | $11.4M | $14.6M | $53.7M | $67.8M | $71.3M |
| Beneficio Bruto | $43.7M | $50.5M | $66.7M | $72.4M | $96.0M | $105.4M | $116.1M | $132.8M | $155.4M | $169.1M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $16.4M | $20.2M | $26.0M | $28.3M | $33.9M | $28.7M | $34.5M | $42.5M | $43.1M | $55.9M |
| Gastos Operativos | $21.1M | $26.4M | $34.7M | $38.1M | $46.2M | $45.4M | $56.5M | $34.0M | $75.9M | $81.0M |
| Beneficio Operativo | $22.6M | $24.1M | $32.1M | $34.3M | $49.9M | $60.0M | $59.6M | $98.8M | $79.5M | $88.2M |
| EBITDA | $23.5M | $25.4M | $33.9M | $36.6M | $53.0M | $63.2M | $63.6M | $107.2M | $87.6M | $93.8M |
| Gastos por Intereses | $5.9M | $7.7M | $14.8M | $19.5M | $13.9M | $8.3M | $12.4M | $49.0M | $68.6M | $70.1M |
| Beneficio Antes de Impuestos | $22.6M | $24.1M | $32.1M | $34.3M | $49.9M | $60.0M | $59.6M | $98.8M | $79.5M | $88.2M |
| Impuestos | $7.7M | $8.8M | $6.6M | $7.6M | $11.8M | $14.5M | $14.4M | $24.3M | $13.9M | $16.7M |
| Beneficio Neto | $14.9M | $15.3M | $25.5M | $26.7M | $38.0M | $45.4M | $45.2M | $74.5M | $65.6M | $71.5M |
| BPA | $2.40 | $2.44 | $3.81 | $3.91 | $5.07 | $5.92 | $5.58 | $7.28 | $6.50 | $7.23 |
| BPA Diluido | $2.40 | $2.44 | $3.81 | $3.87 | $5.05 | $5.90 | $5.56 | $7.26 | $6.50 | $7.23 |
| Acciones en Circulación (Diluidas) | $6.2M | $6.3M | $6.7M | $6.9M | $7.5M | $7.6M | $8.1M | $10.2M | $10.1M | $9.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $60.1M | $61.4M | $84.3M | $85.7M |
| Beneficio Bruto | $42.2M | $44.9M | $63.9M | $65.1M |
| Beneficio Operativo | $22.5M | $22.9M | $24.7M | $30.6M |
| EBITDA | $24.3M | $24.7M | $28.0M | $30.6M |
| Beneficio Neto | $18.0M | $18.4M | $20.0M | $24.7M |
| BPA | $1.83 | $1.87 | $1.78 | $2.21 |
| BPA Diluido | $1.83 | $1.87 | $1.78 | $2.21 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $40.3M | $53.1M | $63.3M | $53.1M | $170.2M | $296.9M | $119.4M | $247.5M | $261.3M | $55.3M |
| Inversiones a Corto | $111.3M | $119.0M | $118.9M | $185.6M | $165.8M | $212.7M | $305.0M | $160.0M | $153.0M | 0 |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $151.6M | $172.1M | $182.2M | $238.7M | $335.3M | $509.5M | $424.4M | $407.4M | $414.3M | $55.3M |
| Inmovilizado Material | $13.3M | $18.6M | $24.5M | $35.3M | $43.2M | $49.5M | $56.4M | $69.9M | $71.1M | $79.2M |
| Fondo de Comercio | $8.0M | $15.1M | $15.0M | $43.5M | $55.5M | $55.4M | $110.2M | $175.1M | $175.1M | $175.1M |
| Activos Intangibles | $2.4M | $5.6M | $5.3M | $9.7M | $9.2M | $9.1M | $26.4M | $40.7M | $34.6M | $16.2M |
| Activos Totales | $1.32B | $1.75B | $1.79B | $2.21B | $2.72B | $2.94B | $3.66B | $4.22B | $4.50B | $4.52B |
| Cuentas por Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda a Corto | $50.1M | $52.6M | $31.5M | $45.9M | $36.4M | $41.1M | $97.2M | $75.7M | 0 | $30.1M |
| Pasivos Corrientes | $1.18B | $1.56B | $1.59B | $1.89B | $2.36B | $2.57B | $3.16B | $3.51B | $3.66B | $30.1M |
| Deuda a Largo | 0 | $15.0M | $11.5M | $68.4M | $41.0M | $25.5M | $25.4M | $51.4M | $147.4M | $92.0M |
| Pasivos Totales | $1.19B | $1.59B | $1.62B | $1.98B | $2.42B | $2.61B | $3.21B | $3.60B | $3.86B | $3.88B |
| Reservas | $134.8M | $145.9M | $168.4M | $189.5M | $221.4M | $258.1M | $295.5M | $348.0M | $398.0M | $417.0M |
| Patrimonio Neto | $127.5M | $161.7M | $174.3M | $230.2M | $294.9M | $322.7M | $453.1M | $619.8M | $639.7M | $643.8M |
| Deuda Total | $50.1M | $67.6M | $43.0M | $114.3M | $77.3M | $66.6M | $122.6M | $127.1M | $147.4M | $123.6M |
| Deuda Neta | -$101.5M | -$104.6M | -$139.2M | -$124.4M | -$257.9M | -$442.9M | -$301.8M | -$280.3M | -$266.9M | $68.2M |
| Capital Circulante | -$1.03B | -$1.39B | -$1.41B | -$1.65B | -$2.02B | -$2.06B | -$2.73B | -$3.10B | -$3.25B | $25.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $126.2M | $55.3M | $398.6M | $266.5M |
| Activos Totales | $4.42B | $4.52B | $6.07B | $5.95B |
| Pasivos Totales | $3.79B | $3.88B | $5.25B | $5.13B |
| Patrimonio Neto | $628.1M | $643.8M | $819.9M | $819.3M |
| Deuda Total | $221.9M | $123.6M | $124.8M | $104.8M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $14.9M | $15.3M | $25.5M | $26.7M | $38.0M | $45.4M | $45.2M | $74.5M | $65.6M | $71.5M |
| Amortizaciones | $918000 | $1.3M | $1.9M | $2.3M | $3.2M | $3.2M | $4.0M | $8.4M | $8.0M | $7.4M |
| Compensación en Acciones | $419000 | $465000 | $556000 | $685000 | $1.1M | $1.4M | $1.7M | $2.1M | $2.2M | $2.1M |
| Cambio en Capital Circulante | $655000 | $5.4M | $1.8M | $332000 | $7.0M | -$4.4M | -$411000 | $12.5M | $2.9M | -$4.5M |
| Flujo de Caja Operativo | $14.4M | $18.3M | $23.1M | $22.6M | $44.0M | $40.3M | $40.0M | $52.9M | $65.8M | $62.5M |
| Inversiones (CapEx) | -$1.3M | -$2.8M | -$7.9M | -$7.3M | -$8.4M | -$8.7M | -$6.9M | -$13.5M | -$7.2M | -$11.4M |
| Adquisiciones | 0 | -$19.9M | 0 | -$9.8M | $35.3M | 0 | $154.4M | $90.0M | 0 | 0 |
| Recompra de Acciones | -$2.6M | -$3.6M | -$10.4M | -$4.2M | -$4.4M | -$8.3M | -$14.3M | -$10.0M | -$31.9M | -$22.0M |
| Dividendos Pagados | -$3.7M | -$4.0M | -$4.5M | -$5.5M | -$6.1M | -$8.7M | -$7.8M | -$12.0M | -$15.6M | -$52.5M |
| Flujo de Caja Libre | $13.1M | $15.5M | $15.1M | $15.4M | $35.6M | $31.6M | $33.1M | $39.5M | $58.6M | $51.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $15.5M | $29.0M | -$11.7M | $24.4M |
| Inversiones (CapEx) | -$3.0M | -$2.7M | -$5.2M | -$3.8M |
| Flujo de Caja Libre | $12.5M | $26.3M | -$16.9M | $20.7M |
| Dividendos Pagados | -$4.4M | -$4.4M | -$5.6M | -$6.1M |
| Compensación en Acciones | $551000 | $550000 | $579000 | $624000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +18.6% | +42.6% | +14.9% | +20.5% | -0.2% | +12.0% | +42.6% | +19.7% | +7.7% |
| Crecimiento Beneficio Neto (anual) | | +2.7% | +66.2% | +4.9% | +42.5% | +19.4% | -0.5% | +64.8% | -12.0% | +9.0% |
| Crecimiento BPA (anual) | | +1.7% | +56.1% | +2.6% | +29.7% | +16.8% | -5.7% | +30.5% | -10.7% | +11.2% |
| Cambio en Acciones (anual) | | +1.0% | +6.2% | +3.4% | +8.4% | +2.2% | +5.6% | +26.4% | -1.4% | -2.2% |
| Crecimiento FCF (anual) | | +18.4% | -2.4% | +1.7% | +131.4% | -11.3% | +5.0% | +19.1% | +48.6% | -12.9% |
| Margen Bruto | 87.5% | 85.2% | 79.0% | 74.5% | 82.1% | 90.2% | 88.8% | 71.2% | 69.6% | 70.3% |
| Margen Operativo | 45.2% | 40.7% | 37.9% | 35.3% | 42.6% | 51.3% | 45.6% | 53.0% | 35.6% | 36.7% |
| Margen EBITDA | 47.1% | 42.8% | 40.1% | 37.7% | 45.3% | 54.1% | 48.6% | 57.5% | 39.2% | 39.0% |
| Margen Neto | 29.8% | 25.8% | 30.1% | 27.5% | 32.5% | 38.9% | 34.6% | 40.0% | 29.4% | 29.7% |
| Margen FCF | 26.2% | 26.1% | 17.9% | 15.8% | 30.4% | 27.0% | 25.3% | 21.2% | 26.3% | 21.2% |
| Tasa Impositiva Efectiva | 34.1% | 36.6% | 20.6% | 22.1% | 23.7% | 24.2% | 24.2% | 24.6% | 17.5% | 18.9% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $2.10 | $2.47 | $2.27 | $2.23 | $4.76 | $4.13 | $4.11 | $3.87 | $5.83 | $5.19 |
| Dividendo por Acción | $0.59 | $0.64 | $0.68 | $0.79 | $0.82 | $1.14 | $0.97 | $1.17 | $1.55 | $5.34 |
| Acciones en Circulación (Básicas) | $6.2M | $6.3M | $6.7M | $6.8M | $7.4M | $7.6M | $8.0M | $10.2M | $10.0M | $9.8M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Rentabilidad sobre capital | 11.14% |
| Rentabilidad sobre capital invertido | 8.44% |
| Rentabilidad sobre activos | 1.36% |
| Margen bruto | 74.14% |
| Margen operativo | 34.54% |
| Margen neto | 27.80% |
Salud financiera
| Deuda / Patrimonio | 0.13 |
| Ratio corriente | 0.17 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 13.89 | 18.32 | 12.23 | 17.91 | 12.79 | 12.20 | 16.63 | 11.90 | 15.24 | 16.85 |
| P/VC | 1.63 | 1.74 | 1.78 | 2.07 | 1.64 | 1.71 | 1.65 | 1.42 | 1.55 | 1.86 |
| P/V | 4.15 | 4.74 | 3.68 | 4.92 | 4.12 | 4.71 | 5.71 | 4.73 | 4.45 | 4.98 |
| Margen Bruto | 87.5% | 85.2% | 79.0% | 74.5% | 82.1% | 90.2% | 88.8% | 71.2% | 69.6% | 70.3% |
| Margen Operativo | 45.2% | 40.7% | 37.9% | 35.3% | 42.6% | 51.3% | 45.6% | 53.0% | 35.6% | 36.7% |
| Margen Neto | 29.8% | 25.8% | 30.1% | 27.5% | 32.5% | 38.9% | 34.6% | 40.0% | 29.4% | 29.7% |