Estados financieros detallados de Crescent Capital BDC, Inc. (CCAP): 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
Crescent Capital BDC, Inc. registró ingresos de $156.2M en el último ejercicio fiscal, con un CAGR de 5 años del 20.3%. El beneficio neto alcanzó $34.5M, con un CAGR a 5 años del -8.8%.
Márgenes de los últimos 12 meses: margen bruto 69.6%, margen operativo 58.4%, margen neto -2.8%.
Al precio actual de $9.88, CCAP presenta beneficios negativos (P/E no significativo) y un ROE del -0.46%. La capitalización bursátil es de $364M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $17.0M | $15.8M | $15.0M | $37.3M | $62.0M | $101.1M | $52.1M | $147.3M | $142.4M | $156.2M |
| Coste de Ventas | $1.9M | $4.3M | $7.5M | $12.1M | $13.4M | $16.2M | $28.9M | $54.9M | $58.9M | $34.3M |
| Beneficio Bruto | $15.1M | $11.5M | $7.5M | $25.3M | $48.6M | $84.9M | $23.2M | $92.5M | $83.5M | $121.9M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $2.5M | $2.6M | $2.9M | $3.5M | $4.4M | $4.9M | $4.5M | $4.9M | $5.2M | $6.27B |
| Gastos Operativos | $3.3M | $2.2M | -$786000 | -$4.4M | -$6.8M | -$2.3M | $6.7M | $8.3M | $8.8M | $2.9M |
| Beneficio Operativo | $11.8M | $9.3M | $8.3M | $29.6M | $55.4M | $87.3M | $16.5M | $84.1M | $74.7M | $118.9M |
| EBITDA | $11.8M | $9.3M | $6.98T | $29.6M | $55.4M | $87.3M | $16.5M | $84.1M | $74.7M | $103.1M |
| Gastos por Intereses | $1.9M | $4.3M | $7.5M | $12.1M | $13.4M | $16.2M | $28.9M | $54.9M | $58.9M | 0 |
| Beneficio Antes de Impuestos | $11.8M | $9.3M | $8.3M | $29.6M | $55.4M | $87.3M | $16.5M | $84.1M | $74.7M | $36.2M |
| Impuestos | $1600 | $242623 | $209000 | $360000 | $730000 | $3.6M | $961000 | $274000 | $1.1M | $1.7M |
| Beneficio Neto | $11.8M | $9.1M | $8.1M | $29.3M | $54.7M | $83.6M | $15.5M | $83.8M | $73.6M | $34.5M |
| BPA | $1.83 | $0.30 | $0.27 | $1.04 | $1.98 | $2.94 | $0.50 | $2.33 | $1.99 | $0.93 |
| BPA Diluido | $1.83 | $0.30 | $0.27 | $1.04 | $1.98 | $2.94 | $0.50 | $2.33 | $1.99 | $0.93 |
| Acciones en Circulación (Diluidas) | $6.4M | $30.0M | $30.0M | $28.1M | $27.7M | $28.5M | $30.9M | $35.9M | $37.1M | $37.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $22.8M | $43.9M | $25.6M | $20.4M |
| Beneficio Bruto | $9.8M | $35.4M | $19.1M | $14.2M |
| Beneficio Operativo | $7.4M | $47.9M | -$1.9M | $12.5M |
| EBITDA | $7.4M | $29.4M | -$1.2M | $12.3M |
| Beneficio Neto | $7.1M | $8.5M | -$15.5M | -$3.2M |
| BPA | $0.19 | $0.23 | $-0.42 | $-0.09 |
| BPA Diluido | $0.19 | $0.23 | $-0.42 | $-0.09 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5.1M | $9.3M | $10.4M | $4.6M | $1.9M | $10.1M | $6.4M | $7.8M | $10.1M | $5.0M |
| Inversiones a Corto | 0 | -$479134 | $559011 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $2.5M | $1.3M | $1.4M | $3.0M | $3.9M | $21.6M | $9.9M | $14.3M | $12.2M | 0 |
| Inventario | -$225.5M | $10.12T | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $7.6M | $10.13T | $11.2M | $17.2M | $19.0M | $47.3M | $35.2M | $22.0M | $56.4M | $5.0M |
| Inmovilizado Material | 0 | 0 | -$505.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fondo de Comercio | 0 | 0 | $299474 | 0 | 0 | 0 | 0 | $114000 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $225.6M | $329.8M | $505.1M | $747.2M | $1.05B | $1.32B | $1.30B | $1.63B | $1.66B | $1.62B |
| Cuentas por Pagar | 0 | $3.7M | $7.5M | 0 | 0 | 0 | $514000 | $26.1M | 0 | $27.9M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $3.8M | $6.2M | $10.1M | $17.3M | $20.0M | $32.9M | $34.8M | $26.1M | $39.1M | $36.4M |
| Deuda a Largo | $93.7M | $150.8M | $235.7M | $322.0M | $471.9M | $631.0M | $654.5M | $844.8M | $875.8M | $873.8M |
| Pasivos Totales | $6377 | $157.0M | $245.5M | $340.3M | $494.2M | $665.5M | $690.3M | $884.8M | $915.6M | $916.1M |
| Reservas | $128.1M | $2.0M | -$6.5M | -$7.4M | -$34.7M | -$13.9M | -$62.5M | -$223.3M | -$218.5M | -$251.0M |
| Patrimonio Neto | $225.6M | $172.8M | $259.6M | $406.9M | $560.0M | $652.3M | $612.5M | $742.6M | $740.6M | $706.0M |
| Deuda Total | $52753 | $150.8M | $235.7M | $322.0M | $471.9M | $631.0M | $654.5M | $844.8M | $875.8M | $873.8M |
| Deuda Neta | -$5.1M | $142.1M | $225.9M | $317.4M | $470.0M | $621.0M | $648.1M | $837.0M | $865.7M | $868.7M |
| Capital Circulante | $3.8M | $10.13T | $1.0M | -$127000 | -$1.0M | $14.4M | $346000 | -$4.1M | $17.4M | -$31.4M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $5.8M | $5.0M | $26.6M | $15.6M |
| Activos Totales | $1.63B | $1.62B | $1.62B | $1.62B |
| Pasivos Totales | $913.6M | $916.1M | $943.6M | $962.4M |
| Patrimonio Neto | $714.1M | $706.0M | $674.0M | $656.5M |
| Deuda Total | $875.3M | $873.8M | $907.1M | $922.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $11.8M | $9.1M | $8.1M | $29.3M | $54.7M | $83.6M | $15.5M | $83.8M | $73.6M | $34.5M |
| Amortizaciones | -$5.86T | -$877.27B | $6.98T | 0 | -$30.5M | 0 | 0 | 0 | 0 | $3.4M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | -$10.3M | $2.5M | $1.1M | $193321 | $1.5M | -$5.6M | $9.1M | $1.0M | $2.5M | -$5.5M |
| Flujo de Caja Operativo | -$78.4M | -$88.4M | -$164.6M | $29.5M | -$61.8M | $28.5M | $58.4M | $61.8M | $82.8M | $74.7M |
| Inversiones (CapEx) | 0 | 0 | 0 | $4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | -$12.9M | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$2.2M | 0 | 0 | 0 | 0 | -$1.3M |
| Dividendos Pagados | -$5.4M | -$8.3M | -$13.5M | -$24.5M | -$42.6M | -$47.7M | -$55.3M | -$64.5M | -$75.2M | -$67.8M |
| Flujo de Caja Libre | -$78.4M | -$88.4M | -$164.6M | $29.5M | -$61.8M | $28.5M | $58.4M | $61.8M | $82.8M | $74.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $30.8M | $22.6M | -$23.8M | $28.7M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $30.8M | $22.6M | -$23.8M | $28.7M |
| Dividendos Pagados | -$17.4M | -$15.6M | -$15.5M | -$32.2M |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -7.4% | -4.6% | +148.3% | +66.1% | +63.0% | -48.5% | +182.8% | -3.3% | +9.7% |
| Crecimiento Beneficio Neto (anual) | | -23.1% | -10.4% | +260.8% | +86.7% | +53.0% | -81.4% | +439.4% | -12.2% | -53.1% |
| Crecimiento BPA (anual) | | -83.6% | -10.0% | +285.2% | +90.4% | +48.5% | -83.0% | +366.0% | -14.6% | -53.3% |
| Cambio en Acciones (anual) | | +368.2% | +0.0% | -6.4% | -1.6% | +2.9% | +8.5% | +16.3% | +3.2% | -0.0% |
| Crecimiento FCF (anual) | | -12.7% | -86.2% | +117.9% | -309.3% | +146.0% | +105.2% | +5.9% | +33.9% | -9.7% |
| Margen Bruto | 88.7% | 72.7% | 50.1% | 67.7% | 78.4% | 84.0% | 44.5% | 62.8% | 58.6% | 78.0% |
| Margen Operativo | 69.1% | 59.0% | 55.3% | 79.4% | 89.3% | 86.3% | 31.7% | 57.1% | 52.5% | 76.1% |
| Margen EBITDA | 69.1% | 59.0% | 46390534.1% | 79.4% | 89.3% | 86.3% | 31.7% | 57.1% | 52.5% | 66.0% |
| Margen Neto | 69.1% | 57.4% | 54.0% | 78.4% | 88.2% | 82.7% | 29.8% | 56.9% | 51.7% | 22.1% |
| Margen FCF | -460.7% | -560.6% | -1094.1% | 79.1% | -99.6% | 28.1% | 112.1% | 42.0% | 58.1% | 47.8% |
| Tasa Impositiva Efectiva | 0.0% | 2.6% | 2.5% | 1.2% | 1.3% | 4.2% | 5.8% | 0.3% | 1.5% | 4.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-12.22 | $-2.94 | $-5.48 | $1.05 | $-2.23 | $1.00 | $1.89 | $1.72 | $2.23 | $2.02 |
| Dividendo por Acción | $0.84 | $0.27 | $0.45 | $0.87 | $1.54 | $1.68 | $1.79 | $1.80 | $2.03 | $1.83 |
| Acciones en Circulación (Básicas) | $6.4M | $30.0M | $30.0M | $28.1M | $27.7M | $28.5M | $30.9M | $35.9M | $37.1M | $37.0M |
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 | -0.46% |
| Rentabilidad sobre capital invertido | 4.18% |
| Rentabilidad sobre activos | -0.20% |
| Margen bruto | 69.61% |
| Margen operativo | 58.43% |
| Margen neto | -2.81% |
Salud financiera
| Deuda / Patrimonio | 1.41 |
| Ratio corriente | 1.17 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 8.96 | 54.67 | 60.74 | 15.77 | 7.36 | 5.99 | 25.56 | 7.46 | 9.66 | 15.11 |
| P/VC | 0.47 | 2.85 | 1.90 | 1.13 | 0.72 | 0.77 | 0.64 | 0.84 | 0.96 | 0.74 |
| P/V | 6.18 | 31.24 | 32.76 | 12.35 | 6.50 | 4.96 | 7.58 | 4.24 | 5.00 | 3.33 |
| Margen Bruto | 88.7% | 72.7% | 50.1% | 67.7% | 78.4% | 84.0% | 44.5% | 62.8% | 58.6% | 78.0% |
| Margen Operativo | 69.1% | 59.0% | 55.3% | 79.4% | 89.3% | 86.3% | 31.7% | 57.1% | 52.5% | 76.1% |
| Margen Neto | 69.1% | 57.4% | 54.0% | 78.4% | 88.2% | 82.7% | 29.8% | 56.9% | 51.7% | 22.1% |