Estados financieros detallados de Clarivate Plc (CLVT): 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
Clarivate Plc registró ingresos de $2.46B en el último ejercicio fiscal, con un CAGR de 5 años del 14.4%.
Márgenes de los últimos 12 meses: margen bruto 66.8%, margen operativo -3.5%, margen neto -13.8%. El flujo de caja libre creció a un CAGR del 18.6% en 5 años.
Al precio actual de $1.87, CLVT presenta beneficios negativos (P/E no significativo) y un ROE del -7.00%. La capitalización bursátil es de $1.2B.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $917.6M | $968.5M | $974.3M | $1.25B | $1.88B | $2.66B | $2.63B | $2.56B | $2.46B |
| Coste de Ventas | $394.2M | $396.5M | $352.0M | $438.8M | $626.1M | $954.0M | $906.4M | $869.2M | $833.6M |
| Beneficio Bruto | $523.4M | $572.0M | $622.3M | $815.3M | $1.25B | $1.71B | $1.72B | $1.69B | $1.62B |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $360.8M | $383.1M | $475.0M | $544.7M | $643.0M | $729.9M | $739.7M | $727.6M | $708.6M |
| Gastos Operativos | $589.5M | $613.9M | $704.8M | $851.6M | $1.34B | $5.63B | $2.46B | $1.96B | $1.55B |
| Beneficio Operativo | -$147.0M | -$105.7M | -$82.5M | -$36.3M | -$87.0M | -$3.93B | -$734.7M | -$275.6M | $71.5M |
| EBITDA | $162.4M | $131.5M | $109.8M | $61.8M | $532.2M | -$3.01B | -$10.5M | $456.6M | $929.3M |
| Gastos por Intereses | $138.2M | $130.8M | $157.7M | $111.9M | $252.5M | $270.3M | $293.7M | $283.4M | $265.4M |
| Beneficio Antes de Impuestos | -$285.2M | -$236.5M | -$248.4M | -$353.3M | -$258.2M | -$3.99B | -$1.01B | -$553.8M | -$193.9M |
| Impuestos | -$21.3M | $5.6M | $10.2M | -$2.7M | $12.3M | -$28.9M | -$101.3M | $82.9M | $7.2M |
| Beneficio Neto | -$263.9M | -$242.2M | -$258.6M | -$350.6M | -$270.5M | -$3.96B | -$911.2M | -$636.7M | -$201.1M |
| BPA | $-0.86 | $-0.79 | $-0.39 | $-0.63 | $-0.62 | $-6.26 | $-1.47 | $-0.96 | $-0.30 |
| BPA Diluido | $-0.86 | $-0.79 | $-0.39 | $-0.63 | $-0.61 | $-6.24 | $-1.47 | $-0.96 | $-0.30 |
| Acciones en Circulación (Diluidas) | $305.2M | $305.2M | $273.9M | $428.6M | $640.8M | $678.6M | $671.6M | $693.6M | $673.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $623.1M | $617.0M | $585.5M | $587.3M |
| Beneficio Bruto | $404.9M | $412.2M | $393.4M | $401.8M |
| Beneficio Operativo | $44.0M | $41.4M | $30.2M | -$200.2M |
| EBITDA | $236.5M | $230.5M | $213.6M | -$200.2M |
| Beneficio Neto | -$28.3M | $3.1M | -$40.2M | -$268.6M |
| BPA | $-0.04 | $0.00 | $-0.06 | $-0.42 |
| BPA Diluido | $-0.04 | $0.00 | $-0.06 | $-0.42 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $53.2M | $25.6M | $76.1M | $257.7M | $587.6M | $348.8M | $370.7M | $295.2M | $329.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $317.8M | $331.3M | $333.9M | $737.7M | $906.4M | $872.1M | $908.3M | $798.3M | $821.7M |
| Inventario | $52.8M | $31.0M | 0 | 0 | 0 | $97.4M | 0 | 0 | 0 |
| Activos Corrientes | $443.9M | $408.6M | $493.1M | $1.15B | $1.64B | $1.40B | $1.46B | $1.24B | $1.31B |
| Inmovilizado Material | $23.0M | $20.6M | $103.5M | $168.6M | $169.9M | $113.4M | $106.8M | $107.1M | $99.3M |
| Fondo de Comercio | $1.31B | $1.28B | $1.33B | $6.04B | $7.90B | $2.88B | $2.02B | $1.57B | $1.57B |
| Activos Intangibles | $2.16B | $1.96B | $1.83B | $7.37B | $10.39B | $9.44B | $9.01B | $8.44B | $8.01B |
| Activos Totales | $4.01B | $3.71B | $3.79B | $14.79B | $20.18B | $13.94B | $12.71B | $11.49B | $11.07B |
| Cuentas por Pagar | $60.8M | $38.4M | $26.5M | $82.0M | $129.2M | $101.4M | $144.1M | $124.5M | $150.6M |
| Deuda a Corto | $45.3M | $60.3M | $9.0M | $28.6M | $62.8M | 0 | $24.4M | $20.6M | $101.5M |
| Pasivos Corrientes | $661.1M | $643.7M | $651.0M | $1.42B | $1.90B | $1.56B | $1.60B | $1.43B | $1.57B |
| Deuda a Largo | $1.97B | $1.93B | $1.63B | $3.46B | $5.46B | $4.97B | $4.72B | $4.52B | $4.32B |
| Pasivos Totales | $2.72B | $2.66B | $2.54B | $5.76B | $8.26B | $7.13B | $6.71B | $6.35B | $6.23B |
| Reservas | -$390.1M | -$632.3M | -$890.9M | -$1.25B | -$1.60B | -$5.66B | -$6.65B | -$7.31B | -$7.51B |
| Patrimonio Neto | $1.29B | $1.05B | $1.25B | $9.03B | $11.93B | $6.81B | $5.99B | $5.14B | $4.84B |
| Deuda Total | $2.01B | $1.99B | $1.72B | $3.63B | $5.61B | $5.07B | $4.81B | $4.59B | $4.48B |
| Deuda Neta | $1.96B | $1.96B | $1.65B | $3.37B | $5.03B | $4.72B | $4.44B | $4.30B | $4.15B |
| Capital Circulante | -$217.2M | -$235.1M | -$157.9M | -$275.5M | -$264.7M | -$164.6M | -$137.8M | -$188.9M | -$258.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $318.7M | $329.2M | $232.3M | $217.7M |
| Activos Totales | $11.23B | $11.07B | $10.93B | $10.49B |
| Pasivos Totales | $6.32B | $6.23B | $6.14B | $5.95B |
| Patrimonio Neto | $4.90B | $4.84B | $4.79B | $4.54B |
| Deuda Total | $4.48B | $4.48B | $4.33B | $4.26B |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$263.9M | -$242.2M | -$258.6M | -$350.6M | -$270.5M | -$3.96B | -$911.2M | -$636.7M | -$201.1M |
| Amortizaciones | $228.5M | $237.2M | $200.5M | $303.2M | $537.8M | $710.5M | $708.3M | $727.0M | $757.2M |
| Compensación en Acciones | $17.7M | $13.7M | $51.4M | $34.2M | $33.3M | $93.9M | $109.0M | $59.9M | $63.1M |
| Cambio en Capital Circulante | $28.2M | -$27.2M | $3.7M | $107.1M | $68.0M | -$271.9M | -$60.4M | -$24.9M | $3.5M |
| Flujo de Caja Operativo | $6.7M | -$26.1M | $117.6M | $263.5M | $323.8M | $509.3M | $744.2M | $646.6M | $628.5M |
| Inversiones (CapEx) | -$37.8M | -$45.4M | -$69.8M | -$107.7M | -$118.5M | -$202.9M | -$242.5M | -$289.1M | -$263.2M |
| Adquisiciones | -$2.4M | $57.3M | -$68.4M | -$2.88B | -$3.93B | $260.2M | $5.1M | -$32.0M | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$159.4M | -$175.0M | -$100.0M | -$200.0M | -$224.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | -$18.9M | -$75.4M | -$75.5M | -$37.7M | 0 |
| Flujo de Caja Libre | -$31.1M | -$71.5M | $47.7M | $155.8M | $205.3M | $306.4M | $501.7M | $357.5M | $365.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $181.1M | $159.9M | $134.7M | $98.7M |
| Inversiones (CapEx) | -$65.6M | -$70.7M | -$55.8M | -$54.7M |
| Flujo de Caja Libre | $115.5M | $89.2M | $78.9M | $44.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $16.1M | $17.7M | $14.2M | $15.2M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +5.5% | +0.6% | +28.7% | +49.7% | +41.7% | -1.2% | -2.7% | -4.0% |
| Crecimiento Beneficio Neto (anual) | | +8.2% | -6.8% | -35.6% | +22.8% | -1364.0% | +77.0% | +30.1% | +68.4% |
| Crecimiento BPA (anual) | | +8.1% | +50.6% | -61.5% | +1.6% | -909.7% | +76.5% | +34.7% | +68.7% |
| Cambio en Acciones (anual) | | +0.0% | -10.3% | +56.5% | +49.5% | +5.9% | -1.0% | +3.3% | -2.9% |
| Crecimiento FCF (anual) | | -129.7% | +166.8% | +226.3% | +31.8% | +49.2% | +63.7% | -28.7% | +2.2% |
| Margen Bruto | 57.0% | 59.1% | 63.9% | 65.0% | 66.6% | 64.1% | 65.5% | 66.0% | 66.0% |
| Margen Operativo | -16.0% | -10.9% | -8.5% | -2.9% | -4.6% | -147.6% | -27.9% | -10.8% | 2.9% |
| Margen EBITDA | 17.7% | 13.6% | 11.3% | 4.9% | 28.4% | -113.1% | -0.4% | 17.9% | 37.9% |
| Margen Neto | -28.8% | -25.0% | -26.5% | -28.0% | -14.4% | -148.9% | -34.7% | -24.9% | -8.2% |
| Margen FCF | -3.4% | -7.4% | 4.9% | 12.4% | 10.9% | 11.5% | 19.1% | 14.0% | 14.9% |
| Tasa Impositiva Efectiva | 7.5% | -2.4% | -4.1% | 0.8% | -4.8% | 0.7% | 10.0% | -15.0% | -3.7% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.10 | $-0.23 | $0.17 | $0.36 | $0.32 | $0.45 | $0.75 | $0.52 | $0.54 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.11 | $0.11 | $0.05 | $0.00 |
| Acciones en Circulación (Básicas) | $305.2M | $305.2M | $273.9M | $428.6M | $631.0M | $676.1M | $671.6M | $693.6M | $673.3M |
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 | -7.00% |
| Rentabilidad sobre capital invertido | -0.92% |
| Rentabilidad sobre activos | -3.19% |
| Margen bruto | 66.82% |
| Margen operativo | -3.51% |
| Margen neto | -13.84% |
Salud financiera
| Deuda / Patrimonio | 0.94 |
| Ratio corriente | 0.85 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -11.16 | -12.09 | -43.08 | -47.16 | -37.94 | -1.33 | -6.30 | -5.29 | -11.13 |
| P/VC | 2.28 | 2.77 | 3.69 | 1.41 | 1.24 | 0.83 | 1.04 | 0.69 | 0.46 |
| P/V | 3.19 | 3.01 | 4.72 | 10.15 | 7.91 | 2.12 | 2.37 | 1.38 | 0.92 |
| Margen Bruto | 57.0% | 59.1% | 63.9% | 65.0% | 66.6% | 64.1% | 65.5% | 66.0% | 66.0% |
| Margen Operativo | -16.0% | -10.9% | -8.5% | -2.9% | -4.6% | -147.6% | -27.9% | -10.8% | 2.9% |
| Margen Neto | -28.8% | -25.0% | -26.5% | -28.0% | -14.4% | -148.9% | -34.7% | -24.9% | -8.2% |