Estados financieros detallados de CVB Financial Corp. (CVBF): 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
CVB Financial Corp. registró ingresos de $643.4M en el último ejercicio fiscal, con un CAGR de 5 años del 6.1%. El beneficio neto alcanzó $209.3M, con un CAGR a 5 años del 3.4%.
Márgenes de los últimos 12 meses: margen bruto 80.0%, margen operativo 39.2%, margen neto 29.3%. El flujo de caja libre creció a un CAGR del 3.8% en 5 años.
Al precio actual de $22.72, CVBF cotiza a un P/E de 15.16 y un ROE del 8.22%. La capitalización bursátil es de $3.3B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $300.6M | $325.9M | $405.3M | $506.4M | $478.5M | $467.8M | $561.9M | $665.7M | $658.7M | $643.4M |
| Coste de Ventas | $1.1M | -$604000 | $14.1M | $27.1M | $37.8M | -$20.4M | $19.8M | $119.8M | $178.5M | $129.5M |
| Beneficio Bruto | $299.5M | $326.5M | $391.3M | $479.4M | $440.7M | $488.2M | $542.2M | $545.8M | $480.2M | $513.8M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $87.7M | $91.9M | $115.2M | $135.2M | $124.2M | $122.5M | $137.9M | $145.9M | $151.8M | $201.6M |
| Gastos Operativos | $137.2M | $137.7M | $180.2M | $188.3M | $191.2M | $190.6M | $213.8M | $230.4M | $208.9M | $232.2M |
| Beneficio Operativo | $162.3M | $188.8M | $211.1M | $291.1M | $249.5M | $297.6M | $328.3M | $315.4M | $271.2M | $281.7M |
| EBITDA | $167.6M | $191.5M | $219.5M | $313.1M | $248.4M | $291.2M | $342.0M | $333.6M | $286.6M | $296.5M |
| Gastos por Intereses | $8.0M | $8.3M | $12.8M | $22.1M | $14.3M | $6.1M | $9.2M | $118.3M | $182.8M | $133.0M |
| Beneficio Antes de Impuestos | $162.3M | $188.8M | $211.1M | $291.1M | $249.5M | $297.6M | $328.3M | $315.4M | $271.2M | $281.7M |
| Impuestos | $60.9M | $84.4M | $59.1M | $83.2M | $72.4M | $85.1M | $92.9M | $94.0M | $70.5M | $72.4M |
| Beneficio Neto | $101.4M | $104.4M | $152.0M | $207.8M | $177.2M | $212.5M | $235.4M | $221.4M | $200.7M | $209.3M |
| BPA | $0.94 | $0.95 | $1.25 | $1.48 | $1.30 | $1.57 | $1.67 | $1.59 | $1.44 | $1.52 |
| BPA Diluido | $0.94 | $0.95 | $1.25 | $1.48 | $1.30 | $1.56 | $1.67 | $1.59 | $1.44 | $1.52 |
| Acciones en Circulación (Diluidas) | $107.7M | $109.8M | $122.0M | $139.9M | $136.2M | $135.4M | $140.0M | $138.5M | $138.6M | $135.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $163.1M | $163.1M | $160.6M | $219.1M |
| Beneficio Bruto | $127.1M | $132.2M | $126.4M | $179.4M |
| Beneficio Operativo | $69.0M | $74.4M | $68.6M | $65.0M |
| EBITDA | $72.7M | $76.8M | $73.1M | $69.1M |
| Beneficio Neto | $52.6M | $55.0M | $51.0M | $48.3M |
| BPA | $0.38 | $0.40 | $0.38 | $0.36 |
| BPA Diluido | $0.38 | $0.40 | $0.38 | $0.36 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $169.5M | $162.3M | $171.6M | $188.4M | $2.00B | $1.76B | $213.0M | $289.5M | $205.2M | $107.5M |
| Inversiones a Corto | $2.27B | $2.08B | $1.73B | $1.74B | $2.40B | $3.18B | $3.26B | $2.96B | $63.8M | 0 |
| Cuentas por Cobrar | $132.3M | $133.0M | $157.0M | $116.2M | $106.3M | $112.6M | $314.2M | $301.3M | $282.8M | $46.7M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $2.58B | $2.38B | $2.07B | $2.05B | $4.51B | $5.06B | $3.79B | $3.56B | $564.8M | $154.2M |
| Inmovilizado Material | $42.1M | $46.2M | $58.2M | $72.5M | $70.3M | $68.4M | $69.4M | $66.4M | $74.7M | $26.5M |
| Fondo de Comercio | $89.5M | $116.6M | $666.5M | $663.7M | $663.7M | $663.7M | $765.8M | $765.8M | $765.8M | $765.8M |
| Activos Intangibles | $5.0M | $6.8M | $53.8M | $43.0M | $33.6M | $25.4M | $21.7M | $15.3M | $10.0M | $5.8M |
| Activos Totales | $8.07B | $8.27B | $11.53B | $11.28B | $14.42B | $15.88B | $16.48B | $16.02B | $15.15B | $15.63B |
| Cuentas por Pagar | $132.3M | 0 | 0 | 0 | 0 | 0 | $433000 | $23.3M | $5.0M | 0 |
| Deuda a Corto | $656.0M | $553.8M | $722.3M | $428.7M | $444.4M | $644.7M | $1.56B | $2.34B | $761.9M | $490.6M |
| Pasivos Corrientes | $6.97B | $7.10B | $9.55B | $9.13B | $12.18B | $13.62B | $14.40B | $13.77B | $12.72B | $11.99B |
| Deuda a Largo | $25.8M | $25.8M | $25.8M | $25.8M | $25.8M | 0 | 0 | 0 | 0 | $500.0M |
| Pasivos Totales | $7.08B | $7.20B | $9.68B | $9.29B | $12.41B | $13.80B | $14.53B | $13.94B | $12.97B | $13.34B |
| Reservas | $449.5M | $494.4M | $575.8M | $682.7M | $760.9M | $875.6M | $1.00B | $1.11B | $1.20B | $1.30B |
| Patrimonio Neto | $990.9M | $1.07B | $1.85B | $1.99B | $2.01B | $2.08B | $1.95B | $2.08B | $2.19B | $2.30B |
| Deuda Total | $681.8M | $579.5M | $748.0M | $454.4M | $470.2M | $644.7M | $1.56B | $2.34B | $761.9M | $990.6M |
| Deuda Neta | -$1.76B | -$1.66B | -$1.16B | -$1.47B | -$3.93B | -$4.30B | -$1.91B | -$904.0M | $492.9M | $883.1M |
| Capital Circulante | -$4.39B | -$4.72B | -$7.48B | -$7.08B | -$7.67B | -$8.56B | -$10.61B | -$10.21B | -$12.15B | -$11.83B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $797.1M | $107.5M | $138.6M | $1.10B |
| Activos Totales | $15.67B | $15.63B | $15.51B | $21.18B |
| Pasivos Totales | $13.38B | $13.34B | $13.19B | $18.01B |
| Patrimonio Neto | $2.28B | $2.30B | $2.32B | $3.17B |
| Deuda Total | $951.3M | $990.6M | $994.3M | $1.10B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $101.4M | $104.4M | $152.0M | $207.8M | $177.2M | $212.5M | $235.4M | $221.4M | $200.7M | $209.3M |
| Amortizaciones | $5.3M | $2.7M | $8.3M | $22.0M | -$1.2M | -$6.4M | $13.7M | $18.2M | $15.4M | $14.8M |
| Compensación en Acciones | $2.8M | $3.0M | $3.5M | $5.5M | $5.5M | $5.2M | $7.9M | $9.4M | $10.2M | $6.2M |
| Cambio en Capital Circulante | $4.4M | $29.7M | $5.3M | -$3.1M | -$16.2M | -$8.1M | -$9.8M | $35.4M | $11.7M | -$29.4M |
| Flujo de Caja Operativo | $124.5M | $139.6M | $165.0M | $208.2M | $185.1M | $195.2M | $273.7M | $295.6M | $249.8M | $221.4M |
| Inversiones (CapEx) | -$12.6M | -$4.9M | -$4.2M | -$5.5M | -$4.7M | -$4.7M | -$5.4M | -$4.5M | -$5.1M | -$4.1M |
| Adquisiciones | -$15.7M | $3.1M | -$132.9M | 0 | 0 | 0 | $329.0M | 0 | 0 | 0 |
| Recompra de Acciones | -$1.9M | -$1.1M | -$7.8M | -$2.6M | -$92.8M | -$8.3M | -$116.3M | -$21.2M | -$2.8M | -$81.1M |
| Dividendos Pagados | -$51.6M | -$57.0M | -$66.0M | -$95.4M | -$98.5M | -$97.7M | -$104.4M | -$111.7M | -$111.8M | -$111.0M |
| Flujo de Caja Libre | $111.9M | $134.7M | $160.8M | $202.7M | $180.4M | $190.6M | $268.4M | $291.1M | $244.6M | $217.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $81.5M | $44.9M | $62.4M | $388.1M |
| Inversiones (CapEx) | -$836000 | -$1.7M | -$1.1M | -$780000 |
| Flujo de Caja Libre | $80.7M | $43.2M | $61.2M | $387.4M |
| Dividendos Pagados | -$27.6M | -$27.5M | -$27.1M | -$27.3M |
| Compensación en Acciones | $2.4M | -$1.1M | $2.2M | $260000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +8.4% | +24.4% | +24.9% | -5.5% | -2.2% | +20.1% | +18.5% | -1.0% | -2.3% |
| Crecimiento Beneficio Neto (anual) | | +2.9% | +45.6% | +36.7% | -14.8% | +20.0% | +10.8% | -5.9% | -9.4% | +4.3% |
| Crecimiento BPA (anual) | | +1.1% | +31.6% | +18.4% | -12.2% | +20.8% | +6.4% | -4.8% | -9.4% | +5.6% |
| Cambio en Acciones (anual) | | +2.0% | +11.1% | +14.7% | -2.7% | -0.6% | +3.4% | -1.1% | +0.1% | -1.9% |
| Crecimiento FCF (anual) | | +20.4% | +19.3% | +26.1% | -11.0% | +5.6% | +40.8% | +8.5% | -16.0% | -11.2% |
| Margen Bruto | 99.6% | 100.2% | 96.5% | 94.7% | 92.1% | 104.4% | 96.5% | 82.0% | 72.9% | 79.9% |
| Margen Operativo | 54.0% | 57.9% | 52.1% | 57.5% | 52.1% | 63.6% | 58.4% | 47.4% | 41.2% | 43.8% |
| Margen EBITDA | 55.8% | 58.7% | 54.1% | 61.8% | 51.9% | 62.3% | 60.9% | 50.1% | 43.5% | 46.1% |
| Margen Neto | 33.7% | 32.0% | 37.5% | 41.0% | 37.0% | 45.4% | 41.9% | 33.3% | 30.5% | 32.5% |
| Margen FCF | 37.2% | 41.3% | 39.7% | 40.0% | 37.7% | 40.7% | 47.8% | 43.7% | 37.1% | 33.8% |
| Tasa Impositiva Efectiva | 37.5% | 44.7% | 28.0% | 28.6% | 29.0% | 28.6% | 28.3% | 29.8% | 26.0% | 25.7% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $1.04 | $1.23 | $1.32 | $1.45 | $1.32 | $1.41 | $1.92 | $2.10 | $1.77 | $1.60 |
| Dividendo por Acción | $0.48 | $0.52 | $0.54 | $0.68 | $0.72 | $0.72 | $0.75 | $0.81 | $0.81 | $0.82 |
| Acciones en Circulación (Básicas) | $107.3M | $109.4M | $121.7M | $139.8M | $136.0M | $135.2M | $139.7M | $138.3M | $138.4M | $135.9M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Rentabilidad sobre capital | 8.22% |
| Rentabilidad sobre capital invertido | 4.23% |
| Rentabilidad sobre activos | 0.98% |
| Margen bruto | 80.05% |
| Margen operativo | 39.23% |
| Margen neto | 29.31% |
Salud financiera
| Deuda / Patrimonio | 0.35 |
| Ratio corriente | 0.39 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 24.39 | 24.80 | 16.18 | 14.58 | 15.00 | 13.64 | 15.42 | 12.70 | 14.87 | 12.24 |
| P/VC | 2.48 | 2.41 | 1.33 | 1.51 | 1.32 | 1.39 | 1.85 | 1.34 | 1.36 | 1.10 |
| P/V | 8.18 | 7.91 | 6.07 | 5.96 | 5.54 | 6.19 | 6.40 | 4.20 | 4.50 | 3.93 |
| Margen Bruto | 99.6% | 100.2% | 96.5% | 94.7% | 92.1% | 104.4% | 96.5% | 82.0% | 72.9% | 79.9% |
| Margen Operativo | 54.0% | 57.9% | 52.1% | 57.5% | 52.1% | 63.6% | 58.4% | 47.4% | 41.2% | 43.8% |
| Margen Neto | 33.7% | 32.0% | 37.5% | 41.0% | 37.0% | 45.4% | 41.9% | 33.3% | 30.5% | 32.5% |