Estados financieros detallados de ClearSign Technologies Corporation (CLIR): 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 18.5%, margen operativo -108.7%, margen neto -96.1%.
Al precio actual de $3.52, CLIR presenta beneficios negativos (P/E no significativo) y un ROE del -58.08%. La capitalización bursátil es de $22M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $621000 | $540000 | $530000 | 0 | 0 | $607000 | $374000 | $2.4M | $3.6M | $5.2M |
| Coste de Ventas | $485000 | $380000 | $427000 | $1000 | $279000 | $1.1M | $258000 | $1.6M | $2.5M | $3.8M |
| Beneficio Bruto | $136000 | $160000 | $103000 | -$1000 | -$279000 | -$452000 | $116000 | $817000 | $1.1M | $1.4M |
| I+D | $4.8M | $4.7M | $4.1M | $3.1M | $2.0M | $2.7M | $505000 | $739000 | $1.5M | $1.4M |
| Generales y Administrativos | $6.5M | $5.2M | $5.6M | $5.5M | $4.6M | $5.0M | $5.7M | $6.1M | $6.1M | $6.7M |
| Gastos Operativos | $11.3M | $9.9M | $9.7M | $8.6M | $6.7M | $7.7M | $6.0M | $6.8M | $7.6M | $7.4M |
| Beneficio Operativo | -$11.2M | -$9.7M | -$9.6M | -$8.6M | -$6.9M | -$8.1M | -$5.9M | -$6.0M | -$6.5M | -$5.9M |
| EBITDA | -$11.2M | -$9.4M | -$9.3M | -$8.2M | -$6.7M | -$7.6M | -$5.5M | -$5.3M | -$5.6M | -$5.2M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$11.2M | -$9.7M | -$9.5M | -$8.5M | -$6.9M | -$7.9M | -$5.8M | -$5.2M | -$5.3M | -$5.5M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$11.2M | -$9.7M | -$9.5M | -$8.4M | -$6.8M | -$7.9M | -$5.8M | -$5.2M | -$5.3M | -$5.5M |
| BPA | $-8.60 | $-6.30 | $-4.20 | $-3.10 | $-2.50 | $-2.50 | $-1.50 | $-1.30 | $-1.10 | $-0.99 |
| BPA Diluido | $-8.60 | $-6.30 | $-4.20 | $-3.10 | $-2.50 | $-2.50 | $-1.50 | $-1.30 | $-1.10 | $-0.99 |
| Acciones en Circulación (Diluidas) | $1.3M | $1.5M | $2.3M | $2.7M | $2.8M | $3.1M | $3.5M | $3.9M | $4.9M | $5.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $1.0M | $3.7M | $191000 | $560000 |
| Beneficio Bruto | $368000 | $805000 | -$393000 | $228000 |
| Beneficio Operativo | -$1.8M | -$397000 | -$2.3M | -$1.5M |
| EBITDA | -$1.4M | -$245000 | -$2.1M | -$1.3M |
| Beneficio Neto | -$1.4M | -$311000 | -$2.2M | -$1.3M |
| BPA | $-0.26 | $-0.05 | $-0.39 | $-0.22 |
| BPA Diluido | $-0.26 | $-0.05 | $-0.39 | $-0.22 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.3M | $1.2M | $8.9M | $8.6M | $8.8M | $7.6M | $6.5M | $5.7M | $14.0M | $9.2M |
| Inversiones a Corto | 0 | 0 | $6.9M | 0 | 0 | 0 | $2.6M | 0 | 0 | 0 |
| Cuentas por Cobrar | $103000 | $184000 | $39000 | $39000 | $92000 | $72000 | $99000 | $475000 | $359000 | $1.4M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $1.9M | $1.8M | $16.4M | $9.0M | $9.4M | $8.0M | $9.7M | $6.5M | $14.8M | $11.2M |
| Inmovilizado Material | $144000 | $508000 | $467000 | $665000 | $427000 | $530000 | $384000 | $275000 | $238000 | $195000 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $1.7M | $1.9M | $1.7M | $1.3M | $1.3M | $799000 | $798000 | $836000 | $830000 | $760000 |
| Activos Totales | $3.8M | $4.2M | $18.6M | $10.9M | $11.1M | $9.4M | $10.9M | $7.6M | $15.9M | $12.2M |
| Cuentas por Pagar | $542000 | $587000 | $823000 | $845000 | $435000 | $224000 | $296000 | $256000 | $78000 | $1.6M |
| Deuda a Corto | 0 | 0 | 0 | $177000 | $169000 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $1.5M | $1.5M | $1.6M | $1.3M | $1.1M | $731000 | $1.1M | $2.3M | $2.0M | $2.6M |
| Deuda a Largo | 0 | 0 | 0 | 0 | $251000 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $1.5M | $1.7M | $1.7M | $1.7M | $1.6M | $1.1M | $1.4M | $2.4M | $2.2M | $2.7M |
| Reservas | -$40.3M | -$50.0M | -$59.6M | -$68.0M | -$74.9M | -$82.8M | -$88.5M | -$93.7M | -$99.0M | -$104.5M |
| Patrimonio Neto | $2.2M | $2.4M | $16.8M | $9.2M | $9.5M | $8.3M | $9.6M | $5.2M | $13.8M | $9.5M |
| Deuda Total | $503000 | $354000 | $307000 | $595000 | $669000 | $555000 | $359000 | $243000 | $188000 | $163000 |
| Deuda Neta | -$756000 | -$893000 | -$15.6M | -$8.0M | -$8.2M | -$7.1M | -$8.7M | -$5.4M | -$13.8M | -$9.0M |
| Capital Circulante | $355000 | $263000 | $14.8M | $7.7M | $8.3M | $7.3M | $8.6M | $4.3M | $12.8M | $8.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $10.5M | $9.2M | $7.7M | $9.9M |
| Activos Totales | $12.7M | $12.2M | $9.8M | $12.2M |
| Pasivos Totales | $3.7M | $2.7M | $2.2M | $2.4M |
| Patrimonio Neto | $9.1M | $9.5M | $7.6M | $9.8M |
| Deuda Total | $185000 | $163000 | $140000 | $117000 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$11.2M | -$9.7M | -$9.5M | -$8.5M | -$6.9M | -$7.9M | -$5.8M | -$5.2M | -$5.3M | -$5.5M |
| Amortizaciones | $208000 | $297000 | $271000 | $240000 | $210000 | $448000 | $292000 | $424000 | $272000 | $277000 |
| Compensación en Acciones | $645000 | $369000 | $224000 | $685000 | $800000 | $680000 | $373000 | $614000 | $528000 | $893000 |
| Cambio en Capital Circulante | -$500000 | $414000 | $57000 | -$92000 | -$105000 | -$209000 | $139000 | $916000 | $80000 | -$478000 |
| Flujo de Caja Operativo | -$8.7M | -$8.3M | -$8.4M | -$6.9M | -$6.0M | -$6.7M | -$5.0M | -$3.2M | -$4.4M | -$4.7M |
| Inversiones (CapEx) | -$1.1M | -$421000 | -$502000 | -$418000 | -$194000 | -$213000 | -$164000 | -$200000 | -$218000 | -$101000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | -$9.7M | -$8.7M | -$8.9M | -$7.3M | -$6.2M | -$6.9M | -$5.2M | -$3.4M | -$4.6M | -$4.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$1.8M | -$1.3M | -$1.3M | -$1.2M |
| Inversiones (CapEx) | -$21000 | -$23000 | -$64000 | $64000 |
| Flujo de Caja Libre | -$1.9M | -$1.3M | -$1.4M | -$1.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $767000 | $30000 | $76000 | $80000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -13.0% | -1.9% | -100.0% | | | -38.4% | +542.5% | +49.6% | +45.6% |
| Crecimiento Beneficio Neto (anual) | | +13.4% | +1.9% | +11.8% | +18.4% | -15.4% | +27.0% | +9.8% | -2.0% | -3.7% |
| Crecimiento BPA (anual) | | +26.7% | +33.3% | +26.2% | +19.4% | +0.0% | +40.0% | +13.3% | +15.4% | +10.0% |
| Cambio en Acciones (anual) | | +18.8% | +48.2% | +17.2% | +4.3% | +12.2% | +13.2% | +8.9% | +27.1% | +13.4% |
| Crecimiento FCF (anual) | | +10.8% | -2.4% | +17.6% | +15.9% | -12.4% | +25.5% | +33.4% | -33.7% | -5.4% |
| Margen Bruto | 21.9% | 29.6% | 19.4% | | | -74.5% | 31.0% | 34.0% | 31.1% | 27.2% |
| Margen Operativo | -1804.3% | -1798.5% | -1805.8% | | | -1341.8% | -1573.5% | -248.9% | -180.4% | -113.4% |
| Margen EBITDA | -1804.3% | -1743.5% | -1754.7% | | | -1257.3% | -1461.5% | -220.6% | -154.4% | -99.7% |
| Margen Neto | -1799.2% | -1792.6% | -1792.5% | | | -1299.8% | -1539.6% | -216.1% | -147.4% | -105.0% |
| Margen FCF | -1566.2% | -1607.2% | -1676.6% | | | -1140.0% | -1378.6% | -142.9% | -127.7% | -92.4% |
| 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 | $-7.52 | $-5.65 | $-3.90 | $-2.74 | $-2.21 | $-2.22 | $-1.46 | $-0.89 | $-0.94 | $-0.87 |
| 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) | $1.3M | $1.5M | $2.3M | $2.7M | $2.8M | $3.1M | $3.5M | $3.9M | $4.9M | $5.6M |
Qué mirar en Industrials
Aeroespacial, defensa, maquinaria, transporte. Semi-cíclicos. Clave: backlog, márgenes operativos, y conversión de FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — El mejor indicador de disciplina operativa en industriales
- ROIC — Industriales de calidad tienen ROIC >15% — el resto destruyen capital
- FCF conversion — FCF / Net Income — en industriales bueno >85%
- Deuda neta / EBITDA — Industriales cíclicos con deuda alta sufren mucho en recesión
- Capex / Ingresos — Mantener la maquinaria. <4% = posible infraversión (deterioro futuro)
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
Rentabilidad
| Rentabilidad sobre capital | -58.08% |
| Rentabilidad sobre capital invertido | -59.53% |
| Rentabilidad sobre activos | -42.96% |
| Margen bruto | 18.49% |
| Margen operativo | -108.68% |
| Margen neto | -96.07% |
Salud financiera
| Deuda / Patrimonio | 0.01 |
| Ratio corriente | 4.78 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -3.95 | -5.71 | -2.43 | -2.45 | -11.72 | -5.52 | -3.60 | -8.54 | -13.09 | -5.62 |
| P/VC | 19.59 | 22.74 | 1.38 | 2.20 | 8.55 | 5.20 | 2.00 | 8.23 | 5.12 | 3.24 |
| P/V | 70.79 | 102.43 | 43.84 | 0.00 | 0.00 | 71.00 | 51.02 | 17.78 | 19.60 | 5.90 |
| Margen Bruto | 21.9% | 29.6% | 19.4% | 0.0% | 0.0% | -74.5% | 31.0% | 34.0% | 31.1% | 27.2% |
| Margen Operativo | -1804.3% | -1798.5% | -1805.8% | 0.0% | 0.0% | -1341.8% | -1573.5% | -248.9% | -180.4% | -113.4% |
| Margen Neto | -1799.2% | -1792.6% | -1792.5% | 0.0% | 0.0% | -1299.8% | -1539.6% | -216.1% | -147.4% | -105.0% |