Estados financieros detallados de BTC Digital Ltd. (BTCT): 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
BTC Digital Ltd. registró ingresos de $14.0M en el último ejercicio fiscal, con un CAGR de 5 años del -56.5%.
Márgenes de los últimos 12 meses: margen bruto -22.5%, margen operativo -62.7%, margen neto -64.5%.
Al precio actual de $1.13, BTCT presenta beneficios negativos (P/E no significativo) y un ROE del -24.38%. La capitalización bursátil es de $11M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $801.4M | $176.1M | $1.42B | $1.45B | $897.0M | $729.0M | $81.6M | $9.1M | $11.7M | $14.0M |
| Coste de Ventas | $344.8M | $468.0M | $628.0M | $755.4M | $607.1M | $483.7M | $69.4M | $10.2M | $11.6M | $17.2M |
| Beneficio Bruto | $456.7M | $681.8M | $796.2M | $692.5M | $290.0M | $245.3M | $12.2M | -$1.1M | $115000 | -$3.2M |
| I+D | $18.2M | $21.2M | $26.2M | $32.3M | $4.9M | $2.9M | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $467.0M | $610.6M | $718.4M | $887.9M | $658.9M | $6.8M | $5.0M | $1.3M | $2.8M | $5.7M |
| Gastos Operativos | $485.2M | $631.8M | $744.6M | $920.2M | $662.6M | $6.8M | $5.0M | $1.3M | $2.8M | $5.7M |
| Beneficio Operativo | -$28.5M | $50.0M | $51.7M | -$227.7M | -$400.8M | -$6.8M | $7.2M | -$2.5M | -$2.7M | -$8.8M |
| EBITDA | $3.1M | $86.7M | $106.6M | $162.8M | -$219.4M | $98.1M | $45.0M | $390000 | $1.7M | -$4.6M |
| Gastos por Intereses | 0 | $9000 | $8000 | $2.5M | $6.1M | $377000 | $20000 | $63000 | $48000 | $62000 |
| Beneficio Antes de Impuestos | -$19.3M | $59.9M | $67.9M | -$215.5M | -$407.0M | -$12.1M | -$39.3M | -$2.8M | -$2.0M | -$9.1M |
| Impuestos | $7.9M | $19.5M | $14.5M | $9.6M | $5.8M | -$20.2M | -$45.9M | 0 | 0 | 0 |
| Beneficio Neto | -$24.3M | $6.2M | $57.3M | -$219.4M | -$411.0M | -$384.3M | $53.0M | -$2.8M | -$2.0M | -$9.1M |
| BPA | $-74.15 | $10.05 | $12.12 | $-54.41 | $-216.78 | $-4.52 | $30.29 | $-0.04 | $-0.01 | $-1.10 |
| BPA Diluido | $-74.15 | $10.05 | $12.12 | $-54.41 | $-216.78 | $-5.09 | $15.10 | $-0.04 | $-0.01 | $-1.10 |
| Acciones en Circulación (Diluidas) | $470308 | $201843 | $195825 | $201633 | $274338 | $2.2M | $2.8M | $3.7M | $6.7M | $8.2M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $187.4M | $321.8M | $25.4M | $140.1M | $90.1M | $168.4M | $333000 | $43000 | $14.9M | $350000 |
| Inversiones a Corto | 0 | $50.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $7.6M |
| Cuentas por Cobrar | $18.5M | $13.0M | $15.6M | $36.7M | $33.2M | $7.8M | $8.9M | $5.5M | $5.7M | $6.9M |
| Inventario | $4.3M | $7.2M | $8.5M | $108.2M | $9.3M | $121.2M | $22.3M | 0 | 0 | 0 |
| Activos Corrientes | $372.7M | $573.9M | $383.8M | $317.7M | $232.8M | $389.7M | $96.9M | $8.9M | $24.6M | $19.3M |
| Inmovilizado Material | $150.5M | $195.4M | $214.9M | $715.3M | $469.4M | $191.4M | $92.4M | $12.7M | $12.6M | $16.3M |
| Fondo de Comercio | $53.5M | $53.5M | $276.9M | $302.2M | $274.6M | $193.0M | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | $36.9M | $25.0M | $19.3M | $14.7M | 0 | 0 | 0 | 0 |
| Activos Totales | $654.2M | $905.6M | $1.01B | $1.46B | $1.10B | $885.4M | $209.3M | $24.5M | $41.1M | $39.9M |
| Cuentas por Pagar | $6.9M | $7.1M | $2.0M | $2.2M | $2.6M | $2.5M | $3.5M | $128000 | $115000 | 0 |
| Deuda a Corto | 0 | 0 | 0 | $91.1M | $184.1M | $6.0M | $6.0M | $125000 | $484000 | $2.2M |
| Pasivos Corrientes | $711.9M | $908.8M | $1.04B | $1.27B | $1.17B | $714.9M | $76.3M | $5.1M | $893000 | $2.5M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $957.5M | $1.18B | $1.12B | $1.71B | $1.46B | $848.8M | $76.3M | $5.1M | $1.2M | $2.8M |
| Reservas | -$401.6M | -$363.1M | -$305.9M | -$525.3M | -$936.2M | -$1.32B | -$1.27B | -$186.6M | -$188.6M | -$197.6M |
| Patrimonio Neto | -$304.0M | -$274.5M | -$138.3M | -$260.9M | -$378.7M | $22.4M | $133.0M | $19.4M | $39.9M | $37.2M |
| Deuda Total | 0 | 0 | 0 | $561.9M | $345.9M | $101.6M | $6.0M | $125000 | $853000 | $2.5M |
| Deuda Neta | -$187.4M | -$372.0M | -$25.4M | $421.8M | $255.8M | -$66.8M | $5.7M | $82000 | -$14.0M | -$5.4M |
| Capital Circulante | -$339.3M | -$334.8M | -$655.5M | -$954.5M | -$939.8M | -$325.1M | $20.6M | $3.8M | $23.7M | $16.8M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | -$24.3M | $40.3M | $53.4M | -$225.1M | -$63.2M | -$386.3M | $5.6M | -$2.8M | -$2.0M | -$9.1M |
| Amortizaciones | $31.7M | $36.8M | $54.9M | $193.3M | $27.8M | $17.3M | $5.5M | $3.2M | $3.7M | $4.2M |
| Compensación en Acciones | $6.6M | $7.9M | $7.6M | $96.7M | $8.0M | $3.7M | $849000 | $138000 | $571000 | $1.8M |
| Cambio en Capital Circulante | -$52.4M | $174.7M | -$26.8M | -$75.9M | -$283.9M | -$127.7M | -$223.9M | $3.0M | $37000 | -$1.7M |
| Flujo de Caja Operativo | $92.7M | $259.7M | $78.5M | -$21.6M | -$343.2M | -$459.3M | -$214.1M | $3.8M | $1.6M | -$4.3M |
| Inversiones (CapEx) | -$80.9M | -$75.9M | -$64.4M | -$86.5M | -$25.7M | -$73.0M | -$61.2M | -$2.5M | -$2.7M | -$8.5M |
| Adquisiciones | 0 | $3.4M | -$91.7M | -$39.2M | $22.7M | 0 | -$29.9M | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $11.8M | $183.8M | $14.2M | -$108.0M | -$368.9M | -$532.4M | -$275.3M | $1.3M | -$1.2M | -$12.9M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | -78.0% | +708.8% | +1.7% | -38.0% | -18.7% | -88.8% | -88.9% | +28.7% | +20.3% | |
| Crecimiento Beneficio Neto (anual) | +125.6% | +821.6% | -483.2% | -87.3% | +6.5% | +113.8% | -105.3% | +29.6% | -355.6% | |
| Crecimiento BPA (anual) | +113.6% | +20.6% | -548.9% | -298.4% | +97.9% | +770.1% | -100.1% | +60.8% | -7332.4% | |
| Cambio en Acciones (anual) | -57.1% | -3.0% | +3.0% | +36.1% | +687.7% | +30.0% | +33.0% | +80.4% | +22.0% | |
| Crecimiento FCF (anual) | +1456.5% | -92.3% | -862.8% | -241.4% | -44.3% | +48.3% | +100.5% | -190.8% | -984.1% | |
| Margen Bruto | 57.0% | 387.1% | 55.9% | 47.8% | 32.3% | 33.6% | 14.9% | -12.5% | 1.0% | -22.5% |
| Margen Operativo | -3.6% | 28.4% | 3.6% | -15.7% | -44.7% | -0.9% | 8.8% | -27.3% | -22.9% | -62.7% |
| Margen EBITDA | 0.4% | 49.3% | 7.5% | 11.2% | -24.5% | 13.5% | 55.2% | 4.3% | 14.9% | -33.0% |
| Margen Neto | -3.0% | 3.5% | 4.0% | -15.2% | -45.8% | -52.7% | 65.0% | -31.1% | -17.0% | -64.5% |
| Margen FCF | 1.5% | 104.4% | 1.0% | -7.5% | -41.1% | -73.0% | -337.4% | 14.4% | -10.2% | -91.6% |
| Tasa Impositiva Efectiva | -40.8% | 32.6% | 21.3% | -4.5% | -1.4% | 167.1% | 117.0% | -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 | $25.11 | $910.78 | $72.33 | $-535.82 | $-1344.58 | $-246.37 | $-98.03 | $0.35 | $-0.18 | $-1.56 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $327618 | $201843 | $195825 | $201628 | $231920 | $2.2M | $2.8M | $3.7M | $6.7M | $8.2M |
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 | -24.38% |
| Rentabilidad sobre capital invertido | -22.21% |
| Rentabilidad sobre activos | -22.70% |
| Margen bruto | -22.50% |
| Margen operativo | -62.72% |
| Margen neto | -64.52% |
Salud financiera
| Deuda / Patrimonio | 0.07 |
| Ratio corriente | 7.79 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -357.68 | 2473.00 | 2223.73 | -525.61 | -24.08 | -140.53 | 0.82 | -127.51 | -322.97 | -1.18 |
| P/VC | -28.58 | -18.28 | -38.15 | -22.10 | -3.20 | 61.17 | 0.52 | 0.93 | 0.81 | 0.29 |
| P/V | 10.84 | 28.49 | 3.71 | 3.98 | 1.35 | 1.88 | 0.85 | 1.98 | 2.76 | 0.76 |
| Margen Bruto | 57.0% | 387.1% | 55.9% | 47.8% | 32.3% | 33.6% | 14.9% | -12.5% | 1.0% | -22.5% |
| Margen Operativo | -3.6% | 28.4% | 3.6% | -15.7% | -44.7% | -0.9% | 8.8% | -27.3% | -22.9% | -62.7% |
| Margen Neto | -3.0% | 3.5% | 4.0% | -15.2% | -45.8% | -52.7% | 65.0% | -31.1% | -17.0% | -64.5% |
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Explorar sector: Technology · Computer Hardware
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