Estados financieros detallados de Cellebrite DI Ltd. (CLBT): 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
Cellebrite DI Ltd. registró ingresos de $475.7M en el último ejercicio fiscal, con un CAGR de 5 años del 19.5%. El beneficio neto alcanzó $78.3M, con un CAGR a 5 años del 68.4%.
Márgenes de los últimos 12 meses: margen bruto 83.0%, margen operativo 11.0%, margen neto 11.4%. El flujo de caja libre creció a un CAGR del 20.9% en 5 años.
Al precio actual de $11.43, CLBT cotiza a un P/E de 47.79 y un ROE del 11.87%. La capitalización bursátil es de $2.9B.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $171.9M | $194.9M | $246.2M | $270.7M | $325.1M | $401.2M | $475.7M |
| Coste de Ventas | $35.8M | $37.9M | $42.6M | $50.7M | $53.2M | $62.6M | $75.2M |
| Beneficio Bruto | $136.0M | $157.0M | $203.7M | $219.9M | $271.9M | $338.6M | $400.5M |
| I+D | $46.6M | $54.4M | $65.5M | $80.6M | $84.4M | $98.4M | $113.9M |
| Generales y Administrativos | $90.2M | $91.2M | $124.3M | $138.2M | $154.3M | $183.3M | $220.1M |
| Gastos Operativos | $137.6M | $147.8M | $189.9M | $218.9M | $238.6M | $281.7M | $334.0M |
| Beneficio Operativo | -$1.5M | $9.2M | $13.8M | $1.0M | $33.2M | $56.9M | $66.5M |
| EBITDA | $5.6M | $17.3M | $89.5M | $130.1M | -$65.4M | -$265.3M | $103.1M |
| Gastos por Intereses | $352000 | $1.4M | $153000 | $149000 | 0 | $349.8M | 0 |
| Beneficio Antes de Impuestos | $1.4M | $11.4M | $82.3M | $120.8M | -$75.6M | -$276.0M | $90.7M |
| Impuestos | $3.3M | $5.6M | $10.9M | -$45000 | $5.5M | $7.0M | $12.4M |
| Beneficio Neto | -$1.9M | $5.8M | $71.4M | $120.8M | -$81.1M | -$283.0M | $78.3M |
| BPA | $-0.05 | $-0.05 | $0.50 | $0.64 | $-0.43 | $-1.35 | $0.31 |
| BPA Diluido | $-0.05 | $-0.05 | $0.44 | $0.59 | $-0.43 | $-1.35 | $0.31 |
| Acciones en Circulación (Diluidas) | $187.2M | $187.2M | $161.5M | $195.4M | $190.2M | $209.5M | $249.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $126.0M | $128.8M | $128.3M | $131.1M |
| Beneficio Bruto | $105.7M | $109.1M | $105.9M | $105.9M |
| Beneficio Operativo | $19.0M | $20.8M | $9.1M | $7.6M |
| EBITDA | $27.0M | $49.5M | $20.6M | $16.5M |
| Beneficio Neto | $20.2M | $21.3M | $10.9M | $6.4M |
| BPA | $0.08 | $0.08 | $0.04 | $0.03 |
| BPA Diluido | $0.08 | $0.08 | $0.04 | $0.03 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $76.5M | $128.7M | $146.0M | $87.6M | $189.5M | $191.7M | $124.5M |
| Inversiones a Corto | $123.7M | $108.9M | $35.6M | $96.0M | $113.4M | $255.6M | $312.6M |
| Cuentas por Cobrar | $44.2M | $66.3M | $67.5M | $78.8M | $77.3M | $82.4M | $105.0M |
| Inventario | $4.0M | $4.8M | $6.5M | $10.2M | $9.9M | $8.9M | $7.6M |
| Activos Corrientes | $261.9M | $324.3M | $273.2M | $295.9M | $422.1M | $567.6M | $575.9M |
| Inmovilizado Material | $14.8M | $16.1M | $16.8M | $32.9M | $30.2M | $27.6M | $38.5M |
| Fondo de Comercio | 0 | $9.5M | $26.8M | $26.8M | $26.8M | $28.7M | $119.6M |
| Activos Intangibles | 0 | $6.6M | $11.2M | $11.3M | $10.6M | $11.3M | $81.5M |
| Activos Totales | $280.2M | $364.4M | $339.8M | $403.3M | $532.9M | $690.6M | $938.9M |
| Cuentas por Pagar | $5.4M | $4.7M | $9.5M | $4.6M | $8.3M | $11.1M | $16.8M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $99.2M | $159.4M | $186.6M | $207.8M | $253.8M | $295.5M | $369.7M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $221.4M | $300.6M | $413.1M | $329.4M | $498.7M | $354.5M | $454.5M |
| Reservas | $32.6M | $28.3M | $78.4M | $199.2M | $118.1M | -$164.9M | -$86.5M |
| Patrimonio Neto | $58.8M | $63.8M | -$73.3M | $73.9M | $34.2M | $336.0M | $484.3M |
| Deuda Total | 0 | 0 | 0 | $15.4M | $14.1M | $11.0M | $22.7M |
| Deuda Neta | -$200.3M | -$237.6M | -$181.6M | -$168.3M | -$288.8M | -$436.3M | -$414.4M |
| Capital Circulante | $162.7M | $164.9M | $86.6M | $88.2M | $168.3M | $272.1M | $206.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $281.4M | $124.5M | $133.7M | $141.2M |
| Activos Totales | $834.3M | $938.9M | $952.3M | $994.3M |
| Pasivos Totales | $386.6M | $454.5M | $441.7M | $456.2M |
| Patrimonio Neto | $447.7M | $484.3M | $510.5M | $538.1M |
| Deuda Total | $21.4M | $22.7M | $22.8M | $23.2M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$1.9M | $5.8M | $71.4M | $120.8M | -$81.1M | -$283.0M | $78.3M |
| Amortizaciones | $4.1M | $5.9M | $7.0M | $9.2M | $10.0M | $10.6M | $11.9M |
| Compensación en Acciones | $12.8M | $7.3M | $6.5M | $13.7M | $19.0M | $30.6M | 0 |
| Cambio en Capital Circulante | $2.7M | $49.7M | $20.7M | -$2.8M | $38.5M | $42.0M | $42.0M |
| Flujo de Caja Operativo | $16.1M | $66.5M | $36.1M | $20.6M | $102.1M | $132.2M | $169.0M |
| Inversiones (CapEx) | -$6.2M | -$6.2M | -$8.1M | -$9.1M | -$7.9M | -$10.6M | -$13.2M |
| Adquisiciones | 0 | -$15.0M | -$20.0M | 0 | 0 | -$2.7M | -$147.5M |
| Recompra de Acciones | -$808000 | -$85000 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$25.0M | -$10.0M | -$100.0M | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $9.9M | $60.3M | $27.9M | $11.5M | $94.1M | $121.6M | $155.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $33.3M | $82.2M | $19.9M | $17.6M |
| Inversiones (CapEx) | -$3.3M | -$4.0M | -$3.0M | -$3.1M |
| Flujo de Caja Libre | $29.9M | $78.3M | $16.8M | $14.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $15.3M | 0 | $14.4M | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +13.4% | +26.3% | +9.9% | +20.1% | +23.4% | +18.6% |
| Crecimiento Beneficio Neto (anual) | | +408.2% | +1135.0% | +69.2% | -167.1% | -249.0% | +127.7% |
| Crecimiento BPA (anual) | | +6.9% | +1102.0% | +28.0% | -167.2% | -214.0% | +123.0% |
| Cambio en Acciones (anual) | | +0.0% | -13.7% | +21.0% | -2.7% | +10.2% | +19.3% |
| Crecimiento FCF (anual) | | +507.9% | -53.7% | -58.9% | +719.2% | +29.1% | +28.1% |
| Margen Bruto | 79.2% | 80.6% | 82.7% | 81.3% | 83.6% | 84.4% | 84.2% |
| Margen Operativo | -0.9% | 4.7% | 5.6% | 0.4% | 10.2% | 14.2% | 14.0% |
| Margen EBITDA | 3.3% | 8.9% | 36.3% | 48.1% | -20.1% | -66.1% | 21.7% |
| Margen Neto | -1.1% | 3.0% | 29.0% | 44.6% | -24.9% | -70.5% | 16.5% |
| Margen FCF | 5.8% | 31.0% | 11.3% | 4.2% | 29.0% | 30.3% | 32.7% |
| Tasa Impositiva Efectiva | 232.6% | 49.3% | 13.3% | -0.0% | -7.3% | -2.5% | 13.6% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.05 | $0.32 | $0.17 | $0.06 | $0.50 | $0.58 | $0.62 |
| Dividendo por Acción | $0.13 | $0.05 | $0.62 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $187.2M | $187.2M | $144.0M | $182.7M | $190.2M | $209.5M | $249.9M |
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 | 11.87% |
| Rentabilidad sobre capital invertido | 6.93% |
| Rentabilidad sobre activos | 5.91% |
| Margen bruto | 82.96% |
| Margen operativo | 10.99% |
| Margen neto | 11.43% |
Salud financiera
| Deuda / Patrimonio | 0.04 |
| Ratio corriente | 1.60 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 0.87 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -180.22 | -211.02 | 16.04 | 6.81 | -20.14 | -16.32 | 58.16 |
| P/VC | 30.73 | 30.89 | -15.75 | 10.78 | 48.13 | 13.73 | 9.30 |
| P/V | 10.52 | 10.11 | 4.69 | 2.94 | 5.07 | 11.50 | 9.47 |
| Margen Bruto | 79.2% | 80.6% | 82.7% | 81.3% | 83.6% | 84.4% | 84.2% |
| Margen Operativo | -0.9% | 4.7% | 5.6% | 0.4% | 10.2% | 14.2% | 14.0% |
| Margen Neto | -1.1% | 3.0% | 29.0% | 44.6% | -24.9% | -70.5% | 16.5% |