Estados financieros detallados de Smartbird, Inc (BIRD): 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
Smartbird, Inc registró ingresos de $152.5M en el último ejercicio fiscal, con un CAGR de 5 años del -7.0%.
Márgenes de los últimos 12 meses: margen bruto 34.8%, margen operativo -63.3%, margen neto -72.8%.
Al precio actual de $2.37, BIRD presenta beneficios negativos (P/E no significativo) y un ROE del -243.20%. La capitalización bursátil es de $15M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $193.7M | $219.3M | $277.5M | $297.8M | $254.1M | $189.8M | $152.5M |
| Coste de Ventas | $94.8M | $106.6M | $130.8M | $168.1M | $149.8M | $108.7M | $97.9M |
| Beneficio Bruto | $98.8M | $112.7M | $146.7M | $129.6M | $104.2M | $81.1M | $54.6M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $107.8M | $142.0M | $179.5M | $225.8M | $223.1M | $175.0M | $137.7M |
| Gastos Operativos | $107.8M | $142.0M | $179.5M | $229.9M | $257.2M | $178.6M | $129.7M |
| Beneficio Operativo | -$9.0M | -$29.2M | -$32.9M | -$100.3M | -$153.0M | -$97.6M | -$75.2M |
| EBITDA | -$7.4M | -$22.6M | -$34.4M | -$81.5M | -$97.8M | -$81.6M | -$67.8M |
| Gastos por Intereses | $96000 | $297000 | $178000 | 0 | 0 | 0 | $1.1M |
| Beneficio Antes de Impuestos | -$10.9M | -$30.0M | -$44.6M | -$100.1M | -$152.1M | -$91.4M | -$76.9M |
| Impuestos | $3.7M | -$4.1M | $810000 | $1.2M | $334000 | $1.9M | $393000 |
| Beneficio Neto | -$14.5M | -$25.9M | -$45.4M | -$101.4M | -$152.5M | -$93.3M | -$77.3M |
| BPA | $-2.29 | $-4.07 | $-13.09 | $-13.63 | $-20.10 | $-11.87 | $-9.47 |
| BPA Diluido | $-2.29 | $-4.07 | $-13.09 | $-13.63 | $-20.10 | $-11.87 | $-9.47 |
| Acciones en Circulación (Diluidas) | $6.3M | $6.3M | $3.5M | $7.4M | $7.6M | $7.9M | $8.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $33.0M | $47.7M | $22.3M | $2.8M |
| Beneficio Bruto | $14.2M | $17.8M | $4.8M | 0 |
| Beneficio Operativo | -$19.9M | -$16.7M | -$19.7M | -$10.7M |
| EBITDA | -$18.0M | -$15.0M | -$18.4M | -$9.3M |
| Beneficio Neto | -$20.3M | -$19.6M | -$20.7M | -$16.4M |
| BPA | $-2.49 | $-2.35 | $-2.39 | $-1.79 |
| BPA Diluido | $-2.49 | $-2.35 | $-2.39 | $-1.79 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $74.3M | $126.6M | $288.6M | $167.8M | $130.7M | $66.7M | $26.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $11.1M | $23.7M | $39.9M | $17.6M | $18.3M | $13.8M | $11.9M |
| Inventario | $44.3M | $59.2M | $106.9M | $116.8M | $57.8M | $44.1M | $38.9M |
| Activos Corrientes | $134.6M | $214.8M | $444.4M | $308.9M | $212.4M | $130.6M | $82.1M |
| Inmovilizado Material | $16.6M | $23.3M | $38.0M | $145.6M | $93.2M | $55.9M | $23.6M |
| Fondo de Comercio | 0 | -$6.7M | -$10.6M | 0 | 0 | 0 | 0 |
| Activos Intangibles | $77000 | $7.6M | $11.2M | $133000 | $82000 | $42000 | $75000 |
| Activos Totales | $154.6M | $244.0M | $488.4M | $484.2M | $329.6M | $188.9M | $109.4M |
| Cuentas por Pagar | $29.8M | $20.2M | $30.7M | $12.2M | $5.9M | $10.8M | $17.8M |
| Deuda a Corto | 0 | 0 | 0 | $10.3M | $15.2M | 0 | 0 |
| Pasivos Corrientes | $51.6M | $54.7M | $81.2M | $50.0M | $48.6M | $44.4M | $40.6M |
| Deuda a Largo | $102.3M | $204.0M | 0 | 0 | 0 | 0 | $17.4M |
| Pasivos Totales | $163.7M | $269.6M | $91.4M | $167.5M | $144.3M | $87.2M | $73.5M |
| Reservas | -$66.2M | -$92.0M | -$137.4M | -$238.7M | -$391.2M | -$484.5M | -$561.8M |
| Patrimonio Neto | -$9.1M | -$25.5M | $397.0M | $316.8M | $185.3M | $101.7M | $35.9M |
| Deuda Total | $102.3M | $204.0M | 0 | $105.8M | $93.9M | $53.7M | $39.6M |
| Deuda Neta | $28.0M | $77.5M | -$288.6M | -$61.9M | -$36.7M | -$13.1M | $12.9M |
| Capital Circulante | $82.9M | $160.2M | $363.2M | $258.9M | $163.8M | $86.2M | $41.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $23.7M | $26.7M | $14.4M | $37.4M |
| Activos Totales | $119.9M | $109.4M | $84.7M | $46.1M |
| Pasivos Totales | $68.0M | $73.5M | $68.5M | $23.6M |
| Patrimonio Neto | $51.9M | $35.9M | $16.3M | $22.5M |
| Deuda Total | $43.2M | $39.6M | $33.3M | $14.5M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$14.5M | -$25.9M | -$45.4M | -$101.4M | -$152.5M | -$93.3M | -$77.3M |
| Amortizaciones | $3.4M | $7.1M | $9.7M | $14.7M | $21.0M | $12.4M | $8.0M |
| Compensación en Acciones | $4.2M | $6.8M | $11.2M | $19.9M | $19.3M | $11.5M | $7.8M |
| Cambio en Capital Circulante | $2.7M | -$21.9M | -$37.3M | -$40.6M | $43.8M | -$275000 | $500000 |
| Flujo de Caja Operativo | $42000 | -$34.6M | -$50.9M | -$90.6M | -$30.2M | -$63.9M | -$55.1M |
| Inversiones (CapEx) | -$13.1M | -$14.3M | -$24.2M | -$31.4M | -$10.9M | -$4.1M | -$3.1M |
| Adquisiciones | 0 | 0 | 0 | 0 | $2.2M | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$13.1M | -$48.9M | -$75.0M | -$121.9M | -$41.1M | -$68.0M | -$58.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$15.2M | -$3.3M | -$12.1M | -$11.1M |
| Inversiones (CapEx) | -$904000 | -$870000 | -$72000 | -$2.7M |
| Flujo de Caja Libre | -$16.1M | -$4.1M | -$12.1M | -$13.8M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.6M | $1.8M | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +13.2% | +26.5% | +7.3% | -14.7% | -25.3% | -19.7% |
| Crecimiento Beneficio Neto (anual) | | -78.0% | -75.4% | -123.4% | -50.4% | +38.8% | +17.2% |
| Crecimiento BPA (anual) | | -77.7% | -221.6% | -4.1% | -47.5% | +40.9% | +20.2% |
| Cambio en Acciones (anual) | | +0.0% | -45.4% | +114.6% | +2.0% | +3.7% | +3.8% |
| Crecimiento FCF (anual) | | -274.1% | -53.3% | -62.5% | +66.3% | -65.4% | +14.3% |
| Margen Bruto | 51.0% | 51.4% | 52.9% | 43.5% | 41.0% | 42.7% | 35.8% |
| Margen Operativo | -4.7% | -13.3% | -11.8% | -33.7% | -60.2% | -51.4% | -49.3% |
| Margen EBITDA | -3.8% | -10.3% | -12.4% | -27.4% | -38.5% | -43.0% | -44.5% |
| Margen Neto | -7.5% | -11.8% | -16.4% | -34.0% | -60.0% | -49.2% | -50.7% |
| Margen FCF | -6.8% | -22.3% | -27.0% | -41.0% | -16.2% | -35.8% | -38.2% |
| Tasa Impositiva Efectiva | -33.9% | 13.7% | -1.8% | -1.2% | -0.2% | -2.0% | -0.5% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-2.06 | $-7.71 | $-21.65 | $-16.40 | $-5.42 | $-8.64 | $-7.14 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $6.3M | $6.3M | $3.5M | $7.4M | $7.6M | $7.9M | $8.2M |
Qué mirar en empresas de Consumer Cyclical
- Margen operativo medio 5a (Media del ciclo) — Mira la media del ciclo, no el año actual (pico o valle).
- Rotación de inventario (≥4x/año) — El retail sano rota inventario rápido. Una caída señala demanda débil.
- ROIC medio 5a (≥12%) — Cíclicas con ROIC medio >12% son ganadoras estructurales.
- Deuda neta / EBITDA (pico) (<3x en valle) — En cíclicas la deuda mata en recesión.
- Current Ratio (>1,5x) — Aguanta 12-18 meses sin caja operativa.
- Altman Z-Score (>2,99 seguro) — Modelo de bancarrota — clave en cíclicas sensibles a recesión.
Rentabilidad
| Rentabilidad sobre capital | -243.20% |
| Rentabilidad sobre capital invertido | -181.01% |
| Rentabilidad sobre activos | -166.97% |
| Margen bruto | 34.83% |
| Margen operativo | -63.32% |
| Margen neto | -72.82% |
Salud financiera
| Deuda / Patrimonio | 0.64 |
| Ratio corriente | 3.70 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -7.33 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -252.31 | -141.97 | -23.04 | -3.55 | -1.22 | -0.59 | -0.43 |
| P/VC | -402.37 | -143.84 | 2.63 | 1.14 | 1.00 | 0.54 | 0.93 |
| P/V | 18.94 | 16.73 | 3.77 | 1.21 | 0.73 | 0.29 | 0.22 |
| Margen Bruto | 51.0% | 51.4% | 52.9% | 43.5% | 41.0% | 42.7% | 35.8% |
| Margen Operativo | -4.7% | -13.3% | -11.8% | -33.7% | -60.2% | -51.4% | -49.3% |
| Margen Neto | -7.5% | -11.8% | -16.4% | -34.0% | -60.0% | -49.2% | -50.7% |