Estados financieros detallados de Diamond Hill Investment Group, Inc. (DHIL): 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
Diamond Hill Investment Group, Inc. registró ingresos de $147.1M en el último ejercicio fiscal, con un CAGR de 5 años del 3.1%. El beneficio neto alcanzó $48.8M, con un CAGR a 5 años del 4.8%.
Márgenes de los últimos 12 meses: margen bruto 45.4%, margen operativo 25.8%, margen neto 34.3%.
Al precio actual de $174.99, DHIL cotiza a un P/E de 9.78 y un ROE del 27.96%. La capitalización bursátil es de $473M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $136.1M | $145.2M | $145.6M | $136.6M | $126.4M | $182.2M | $154.5M | $136.7M | $151.1M | $147.1M |
| Coste de Ventas | $56.1M | $59.2M | $57.5M | $69.5M | $63.8M | $84.3M | $69.4M | $79.6M | $82.9M | $82.5M |
| Beneficio Bruto | $80.0M | $86.0M | $88.1M | $67.1M | $62.5M | $97.9M | $85.1M | $57.1M | $68.2M | $64.6M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $16.9M | $19.0M | $16.9M | $19.1M | $17.0M | $21.7M | $20.8M | $21.6M | $24.3M | $27.9M |
| Gastos Operativos | $16.9M | $19.0M | $16.9M | $19.1M | $17.0M | $21.7M | $20.8M | $21.6M | $24.3M | $27.9M |
| Beneficio Operativo | $63.1M | $67.0M | $71.3M | $47.9M | $45.5M | $76.3M | $64.3M | $35.5M | $43.9M | $36.7M |
| EBITDA | $63.8M | $67.9M | $72.4M | $49.1M | $46.5M | $77.5M | $65.7M | $36.8M | $45.1M | $37.9M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $73.3M | $81.0M | $65.0M | $78.4M | $52.1M | $101.6M | $51.0M | $58.6M | $59.0M | $67.3M |
| Impuestos | $26.7M | $29.4M | $18.7M | $18.7M | $14.0M | $26.0M | $14.1M | $15.5M | $15.8M | $17.9M |
| Beneficio Neto | $46.1M | $50.0M | $47.4M | $55.0M | $38.7M | $74.2M | $40.4M | $42.2M | $43.2M | $48.8M |
| BPA | $13.50 | $14.49 | $13.19 | $15.99 | $12.03 | $23.34 | $13.01 | $14.32 | $15.66 | $17.91 |
| BPA Diluido | $13.49 | $14.48 | $13.18 | $15.99 | $12.03 | $23.34 | $13.01 | $14.32 | $15.66 | $17.91 |
| Acciones en Circulación (Diluidas) | $3.4M | $3.5M | $3.5M | $3.4M | $3.2M | $3.2M | $3.1M | $2.9M | $2.8M | $2.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Ingresos | $37.1M | $40.7M | $42.8M | $21.6M |
| Beneficio Bruto | $18.9M | $14.3M | $16.0M | $15.4M |
| Beneficio Operativo | $13.1M | $7.8M | $9.7M | $6.2M |
| EBITDA | $13.3M | $8.0M | $10.1M | $6.5M |
| Beneficio Neto | $10.4M | $15.6M | $13.6M | $9.3M |
| BPA | $3.77 | $5.73 | $4.98 | $3.42 |
| BPA Diluido | $3.77 | $5.73 | $4.98 | $3.42 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $57.2M | $76.6M | $84.4M | $93.2M | $98.5M | $80.6M | $63.2M | $47.0M | $41.6M | $42.4M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $19.7M | $23.3M | $20.3M | $17.2M | $17.8M | $20.4M | $17.3M | $19.7M | $21.8M | $19.8M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $78.9M | $102.0M | $107.1M | $117.1M | $119.5M | $103.5M | $85.4M | $70.2M | $67.1M | $65.7M |
| Inmovilizado Material | $4.0M | $4.1M | $3.7M | $5.7M | $6.7M | $6.1M | $4.3M | $2.6M | $8.4M | $9.8M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $199.7M | $250.4M | $325.7M | $272.7M | $263.1M | $286.2M | $249.8M | $232.1M | $245.1M | $260.4M |
| Cuentas por Pagar | 0 | 0 | $15.6M | $8.7M | $8.0M | $8.6M | $9.2M | $5.4M | $5.6M | 0 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $32.5M | $37.4M | $45.1M | $35.3M | $36.4M | $46.6M | $41.3M | $34.9M | $37.1M | $35.1M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $46.7M | $57.9M | $67.5M | $65.6M | $69.6M | $84.0M | $72.0M | $71.8M | $82.6M | $84.0M |
| Reservas | $47.7M | $73.4M | $92.7M | $117.3M | $118.0M | $119.3M | $129.0M | $153.5M | $149.7M | $154.3M |
| Patrimonio Neto | $139.2M | $172.4M | $195.6M | $192.9M | $184.1M | $184.4M | $163.7M | $160.3M | $162.3M | $176.4M |
| Deuda Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $768916 | $6.3M | $6.4M |
| Deuda Neta | -$57.2M | -$76.6M | -$84.4M | -$93.2M | -$98.5M | -$80.6M | -$63.2M | -$46.2M | -$35.3M | -$36.0M |
| Capital Circulante | $46.5M | $64.6M | $62.0M | $81.8M | $83.1M | $56.9M | $44.1M | $35.3M | $30.0M | $30.7M |
Balance (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Caja y Equivalentes | $25.1M | $49.1M | $43.0M | $42.4M |
| Activos Totales | $224.4M | $261.0M | $256.3M | $260.4M |
| Pasivos Totales | $55.5M | $65.9M | $75.3M | $84.0M |
| Patrimonio Neto | $168.6M | $171.6M | $180.9M | $176.4M |
| Deuda Total | $6.3M | $6.6M | $6.5M | $6.4M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $46.6M | $51.6M | $46.3M | $59.8M | $38.2M | $75.6M | $36.9M | $43.1M | $43.2M | $49.4M |
| Amortizaciones | $712112 | $888197 | $1.2M | $1.2M | $992836 | $1.3M | $1.4M | $1.3M | $1.2M | $1.2M |
| Compensación en Acciones | $8.2M | $8.6M | $8.9M | $9.1M | $7.7M | $7.4M | $10.7M | $11.7M | $11.8M | $13.4M |
| Cambio en Capital Circulante | -$21.0M | $9.6M | -$42.5M | $8.0M | $15.9M | -$38.1M | -$27.1M | -$4.9M | -$31.5M | -$46.9M |
| Flujo de Caja Operativo | $20.1M | $60.9M | $28.1M | $57.0M | $59.8M | $26.3M | $39.5M | $34.7M | $16.6M | -$6.6M |
| Inversiones (CapEx) | -$484509 | -$1.1M | -$781951 | -$707790 | -$2.5M | -$1.1M | -$101454 | -$21705 | -$1.4M | -$2.4M |
| Adquisiciones | $1.2M | $1.0M | $500000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$10.0M | -$5.0M | -$9.2M | -$40.1M | -$20.6M | -$9.4M | -$42.2M | -$39.8M | -$36.5M | -$21.1M |
| Dividendos Pagados | -$20.5M | -$24.3M | -$28.1M | -$30.3M | -$38.0M | -$73.0M | -$30.7M | -$17.7M | -$16.5M | -$27.2M |
| Flujo de Caja Libre | $19.6M | $59.8M | $27.3M | $56.3M | $57.3M | $25.2M | $39.4M | $34.6M | $15.2M | -$9.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Flujo de Caja Operativo | -$10.7M | -$5.0M | -$7.7M | $16.8M |
| Inversiones (CapEx) | -$542153 | -$736385 | -$613354 | -$543250 |
| Flujo de Caja Libre | -$11.3M | -$5.7M | -$8.3M | $16.2M |
| Dividendos Pagados | -$4.2M | -$4.1M | -$4.1M | -$14.9M |
| Compensación en Acciones | $3.6M | $3.3M | $3.1M | $3.5M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +6.7% | +0.3% | -6.2% | -7.5% | +44.2% | -15.2% | -11.5% | +10.5% | -2.6% |
| Crecimiento Beneficio Neto (anual) | | +8.5% | -5.2% | +16.0% | -29.7% | +91.9% | -45.5% | +4.4% | +2.3% | +12.9% |
| Crecimiento BPA (anual) | | +7.3% | -9.0% | +21.2% | -24.8% | +94.0% | -44.3% | +10.1% | +9.4% | +14.4% |
| Cambio en Acciones (anual) | | +1.1% | +1.8% | -2.2% | -6.5% | -1.1% | -2.3% | -5.1% | -6.5% | -1.9% |
| Crecimiento FCF (anual) | | +205.4% | -54.3% | +105.7% | +1.9% | -56.0% | +56.2% | -12.0% | -56.0% | -159.4% |
| Margen Bruto | 58.7% | 59.3% | 60.5% | 49.1% | 49.5% | 53.8% | 55.1% | 41.8% | 45.1% | 43.9% |
| Margen Operativo | 46.3% | 46.1% | 48.9% | 35.1% | 36.0% | 41.9% | 41.6% | 26.0% | 29.0% | 25.0% |
| Margen EBITDA | 46.9% | 46.8% | 49.7% | 35.9% | 36.8% | 42.6% | 42.5% | 26.9% | 29.9% | 25.8% |
| Margen Neto | 33.8% | 34.4% | 32.5% | 40.2% | 30.6% | 40.7% | 26.2% | 30.9% | 28.6% | 33.1% |
| Margen FCF | 14.4% | 41.2% | 18.8% | 41.2% | 45.4% | 13.8% | 25.5% | 25.3% | 10.1% | -6.2% |
| Tasa Impositiva Efectiva | 36.4% | 36.3% | 28.7% | 23.8% | 26.8% | 25.6% | 27.6% | 26.4% | 26.8% | 26.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $5.74 | $17.33 | $7.78 | $16.37 | $17.83 | $7.93 | $12.67 | $11.75 | $5.52 | $-3.35 |
| Dividendo por Acción | $6.00 | $7.03 | $7.99 | $8.81 | $11.81 | $22.95 | $9.88 | $5.99 | $5.99 | $10.05 |
| Acciones en Circulación (Básicas) | $3.4M | $3.4M | $3.5M | $3.4M | $3.2M | $3.2M | $3.1M | $2.9M | $2.8M | $2.7M |
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 | 27.96% |
| Rentabilidad sobre capital invertido | 11.96% |
| Rentabilidad sobre activos | 18.73% |
| Margen bruto | 45.41% |
| Margen operativo | 25.82% |
| Margen neto | 34.28% |
Salud financiera
| Deuda / Patrimonio | 0.04 |
| Ratio corriente | 1.87 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 5.28 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 15.58 | 14.26 | 11.33 | 8.78 | 12.41 | 8.32 | 14.22 | 11.56 | 9.90 | 9.46 |
| P/VC | 5.16 | 4.13 | 2.68 | 2.50 | 2.61 | 3.35 | 3.51 | 3.05 | 2.64 | 2.60 |
| P/V | 5.27 | 4.91 | 3.60 | 3.53 | 3.80 | 3.39 | 3.72 | 3.57 | 2.83 | 3.12 |
| Margen Bruto | 58.7% | 59.3% | 60.5% | 49.1% | 49.5% | 53.8% | 55.1% | 41.8% | 45.1% | 43.9% |
| Margen Operativo | 46.3% | 46.1% | 48.9% | 35.1% | 36.0% | 41.9% | 41.6% | 26.0% | 29.0% | 25.0% |
| Margen Neto | 33.8% | 34.4% | 32.5% | 40.2% | 30.6% | 40.7% | 26.2% | 30.9% | 28.6% | 33.1% |