Estados financieros detallados de BTCS Inc. (BTCS): 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
Márgenes de los últimos 12 meses: margen bruto 26.9%, margen operativo -41.2%, margen neto -7.5%.
Al precio actual de $1.25, BTCS presenta beneficios negativos (P/E no significativo) y un ROE del -104.28%. La capitalización bursátil es de $62M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $355212 | $4480 | 0 | 0 | 0 | $1.2M | $1.7M | $1.3M | $4.1M | $16.5M |
| Coste de Ventas | $263869 | $160 | 0 | 0 | 0 | $268346 | $426440 | $359778 | $3.1M | $14.5M |
| Beneficio Bruto | $91343 | $4320 | 0 | 0 | 0 | $944938 | $1.3M | $979850 | $946009 | $2.0M |
| I+D | 0 | 0 | 0 | 0 | $45450 | $712736 | $611758 | $687288 | $755813 | $679434 |
| Generales y Administrativos | $1.3M | $1.6M | $990169 | $1.4M | $1.9M | $17.4M | $5.3M | $4.0M | $8.4M | $3.8M |
| Gastos Operativos | $1.5M | $1.6M | $990169 | $1.4M | $2.0M | $18.1M | $5.9M | $4.7M | $9.1M | $8.0M |
| Beneficio Operativo | -$1.5M | -$1.6M | -$990169 | -$1.4M | -$2.0M | -$17.1M | -$4.7M | -$3.7M | -$8.2M | -$6.0M |
| EBITDA | -$44.1M | -$1.6M | -$989039 | -$1.6M | -$2.2M | -$14.0M | -$4.6M | -$3.7M | -$8.2M | -$6.0M |
| Gastos por Intereses | $7420 | 0 | 0 | $86142 | $402663 | $2.1M | 0 | 0 | 0 | $3.5M |
| Beneficio Antes de Impuestos | -$44.3M | -$45.5M | -$826420 | -$1.6M | -$2.6M | -$16.0M | -$15.9M | $7.8M | -$1.3M | -$33.4M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$44.3M | -$45.5M | -$826420 | -$1.6M | -$2.6M | -$16.0M | -$15.9M | $7.8M | -$1.3M | -$33.4M |
| BPA | $-1465.98 | $-109.43 | $-0.67 | $-1.09 | $-0.99 | $-2.65 | $-2.13 | $0.55 | $-0.08 | $-1.00 |
| BPA Diluido | $-1465.98 | $-109.43 | $-0.67 | $-1.09 | $-0.99 | $-2.65 | $-2.13 | $0.55 | $-0.08 | $-1.00 |
| Acciones en Circulación (Diluidas) | $30195 | $411825 | $1.2M | $1.6M | $3.0M | $6.8M | $12.7M | $14.1M | $16.3M | $33.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $4.9M | $7.1M | $2.1M | $2.4M |
| Beneficio Bruto | $1.1M | $879072 | $1.0M | $1.5M |
| Beneficio Operativo | -$1.6M | -$1.1M | -$2.4M | -$1.7M |
| EBITDA | -$1.6M | -$83.8M | -$2.4M | -$1.7M |
| Beneficio Neto | $65.6M | -$85.6M | -$69.2M | -$34.9M |
| BPA | $1.48 | $-1.83 | $-1.43 | $-0.70 |
| BPA Diluido | $1.30 | $-1.83 | $-1.43 | $-0.70 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $95068 | $303334 | $52117 | $143098 | $524135 | $1.4M | $2.1M | $1.5M | $2.0M | $1.5M |
| Inversiones a Corto | $199 | $217119 | 0 | $252903 | 0 | $3.7M | $1.9M | $25.2M | $36.1M | 0 |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $291440 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $95267 | $588189 | $60450 | $420009 | $1.6M | $5.5M | $4.2M | $27.0M | $38.1M | $214.0M |
| Inmovilizado Material | 0 | $1235 | $2703 | $1344 | $230 | $9783 | $11152 | $10490 | $7449 | $14390 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $919 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $98071 | $589424 | $63153 | $421353 | $1.6M | $14.1M | $9.9M | $27.1M | $38.2M | $214.6M |
| Cuentas por Pagar | $770497 | $75997 | $14244 | 0 | $26288 | $138716 | $76727 | $55058 | $70444 | $38525 |
| Deuda a Corto | $3.3M | 0 | $200000 | $159854 | $131941 | 0 | 0 | 0 | 0 | $61.5M |
| Pasivos Corrientes | $45.3M | $75997 | $319146 | $605113 | $508605 | $2.0M | $586412 | $980900 | $4.2M | $63.4M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $11.8M |
| Pasivos Totales | $45.3M | $75997 | $319146 | $605113 | $508605 | $2.0M | $586412 | $980900 | $4.2M | $75.2M |
| Reservas | -$69.1M | -$114.5M | -$115.3M | -$117.0M | -$119.5M | -$135.6M | -$151.5M | -$138.7M | -$139.9M | -$173.3M |
| Patrimonio Neto | -$45.3M | $513427 | -$255993 | -$183760 | $1.0M | $12.1M | $9.3M | $26.2M | $34.0M | $139.4M |
| Deuda Total | $3.3M | 0 | $200000 | $159854 | $131941 | 0 | 0 | 0 | 0 | $73.3M |
| Deuda Neta | $3.2M | -$520453 | $147883 | -$236147 | -$392194 | -$5.1M | -$4.1M | -$26.7M | -$38.1M | $71.8M |
| Capital Circulante | -$45.3M | $512192 | -$258696 | -$185104 | $1.0M | $3.5M | $3.6M | $26.1M | $33.9M | $150.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $4.5M | $1.5M | $284631 | $262436 |
| Activos Totales | $298.9M | $214.6M | $129.0M | $89.3M |
| Pasivos Totales | $73.5M | $75.2M | $56.9M | $50.4M |
| Patrimonio Neto | $225.4M | $139.4M | $72.1M | $38.8M |
| Deuda Total | $67.6M | $73.3M | $56.4M | $13.5M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$44.3M | -$45.1M | -$826420 | -$1.6M | -$2.6M | -$16.0M | -$15.9M | $7.8M | -$1.3M | -$33.4M |
| Amortizaciones | $182037 | $1169 | $1130 | $1359 | $1114 | $939 | $4039 | $5033 | $5689 | $4067 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | $15.7M | $2.6M | $1.3M | $2.4M | $657076 |
| Cambio en Capital Circulante | $174637 | -$402672 | $102552 | $307781 | -$29707 | -$523290 | $427093 | $143270 | $3.5M | $1.4M |
| Flujo de Caja Operativo | -$828459 | -$1.5M | -$505619 | -$1.5M | -$2.1M | -$4.9M | -$776777 | -$3.6M | -$3.5M | -$9.8M |
| Inversiones (CapEx) | -$14582 | -$1485 | -$2598 | -$1 | $4 | -$10491 | -$5408 | -$5276 | -$2648 | -$12759 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | $8.9M | 0 | 0 | $1750 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$4.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | -$630801 | 0 | 0 | -$2.7M |
| Flujo de Caja Libre | -$843041 | -$1.5M | -$508217 | -$1.5M | -$2.1M | -$4.9M | -$782185 | -$3.6M | -$3.5M | -$9.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$2.5M | -$3.8M | -$2.7M | $1.4M |
| Inversiones (CapEx) | -$4580 | -$4737 | 0 | 0 |
| Flujo de Caja Libre | -$2.5M | -$3.8M | -$2.7M | $1.4M |
| Dividendos Pagados | 0 | -$2.7M | 0 | -$723218 |
| Compensación en Acciones | $5682 | -$3.2M | $1.7M | $1.6M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -98.7% | -100.0% | | | | +39.5% | -20.8% | +204.1% | +304.8% |
| Crecimiento Beneficio Neto (anual) | | -2.7% | +98.2% | -98.5% | -55.8% | -527.9% | +1.2% | +149.3% | -116.3% | -2523.8% |
| Crecimiento BPA (anual) | | +92.5% | +99.4% | -62.7% | +9.2% | -167.7% | +19.6% | +125.8% | -114.2% | -1178.8% |
| Cambio en Acciones (anual) | | +1263.9% | +200.7% | +28.3% | +87.8% | +129.3% | +86.1% | +10.7% | +15.4% | +104.1% |
| Crecimiento FCF (anual) | | -76.7% | +65.9% | -195.0% | -37.7% | -135.9% | +83.9% | -356.1% | +1.0% | -177.3% |
| Margen Bruto | 25.7% | 96.4% | | | | 77.9% | 74.8% | 73.1% | 23.2% | 12.2% |
| Margen Operativo | -410.0% | -35039.6% | | | | -1411.2% | -275.0% | -277.1% | -200.4% | -36.4% |
| Margen EBITDA | -12408.3% | -35013.5% | | | | -1153.4% | -274.7% | -276.8% | -200.2% | -36.3% |
| Margen Neto | -12461.6% | -1014834.1% | | | | -1322.8% | -936.9% | 583.6% | -31.2% | -202.2% |
| Margen FCF | -237.3% | -33253.1% | | | | -401.6% | -46.2% | -266.3% | -86.7% | -59.4% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | 0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-27.92 | $-3.62 | $-0.41 | $-0.94 | $-0.69 | $-0.71 | $-0.06 | $-0.25 | $-0.22 | $-0.30 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.08 |
| Acciones en Circulación (Básicas) | $30195 | $411825 | $1.2M | $1.6M | $3.0M | $6.8M | $12.7M | $14.1M | $16.3M | $33.2M |
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 | -104.28% |
| Rentabilidad sobre capital invertido | -13.07% |
| Rentabilidad sobre activos | -138.95% |
| Margen bruto | 26.92% |
| Margen operativo | -41.18% |
| Margen neto | -746.26% |
Salud financiera
| Deuda / Patrimonio | 0.35 |
| Ratio corriente | 2.06 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -0.02 | -0.60 | -6.94 | -0.62 | -1.92 | -1.18 | -0.30 | 2.96 | -31.59 | -2.64 |
| P/VC | -0.02 | 53.00 | -22.50 | -5.88 | 5.43 | 1.77 | 0.86 | 0.88 | 1.18 | 0.63 |
| P/V | 2.29 | 6073.50 | 0.00 | 0.00 | 0.00 | 17.70 | 4.74 | 17.15 | 9.86 | 5.31 |
| Margen Bruto | 25.7% | 96.4% | 0.0% | 0.0% | 0.0% | 77.9% | 74.8% | 73.1% | 23.2% | 12.2% |
| Margen Operativo | -410.0% | -35039.6% | 0.0% | 0.0% | 0.0% | -1411.2% | -275.0% | -277.1% | -200.4% | -36.4% |
| Margen Neto | -12461.6% | -1014834.1% | 0.0% | 0.0% | 0.0% | -1322.8% | -936.9% | 583.6% | -31.2% | -202.2% |