Estados financieros detallados de Energy Focus, Inc. (EFOI): 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
Energy Focus, Inc. registró ingresos de $3.6M en el último ejercicio fiscal, con un CAGR de 5 años del -26.7%.
Márgenes de los últimos 12 meses: margen bruto 4.4%, margen operativo -23.3%, margen neto -23.8%.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $31.0M | $19.8M | $18.1M | $12.7M | $16.8M | $9.9M | $6.0M | $5.7M | $4.9M | $3.6M |
| Coste de Ventas | $23.3M | $15.0M | $14.7M | $10.7M | $11.6M | $8.2M | $6.3M | $5.5M | $4.2M | $2.9M |
| Beneficio Bruto | $7.7M | $4.8M | $3.4M | $2.0M | $5.2M | $1.7M | -$318000 | $223000 | $699000 | $635000 |
| I+D | $3.5M | $2.9M | $2.6M | $1.3M | $1.4M | $1.9M | $1.5M | $587000 | $524000 | $375000 |
| Generales y Administrativos | $20.1M | $11.3M | $9.8M | $7.4M | 0 | 0 | 0 | $3.6M | $2.0M | $1.3M |
| Gastos Operativos | $23.6M | $14.3M | $12.4M | $8.9M | $9.3M | $10.4M | $9.0M | $4.2M | $2.5M | $1.7M |
| Beneficio Operativo | -$16.8M | -$11.3M | -$9.1M | -$7.0M | -$4.1M | -$8.7M | -$9.3M | -$4.0M | -$1.8M | -$1.0M |
| EBITDA | -$16.0M | -$10.7M | -$8.6M | -$6.7M | -$3.9M | -$8.5M | -$8.8M | -$3.9M | -$1.5M | -$989999 |
| Gastos por Intereses | 0 | $2000 | $8000 | $317000 | $481000 | $792000 | $954000 | $380000 | $5000 | 0 |
| Beneficio Antes de Impuestos | -$16.8M | -$11.4M | -$9.1M | -$7.4M | -$6.0M | -$7.9M | -$10.3M | -$4.3M | -$1.6M | -$1.0M |
| Impuestos | $27000 | -$115000 | $11000 | $10000 | -$5000 | -$1000 | $4000 | $3000 | $2000 | 0 |
| Beneficio Neto | -$16.9M | -$11.3M | -$9.1M | -$7.4M | -$6.0M | -$7.9M | -$10.3M | -$4.3M | -$1.6M | -$1.0M |
| BPA | $-50.79 | $-33.40 | $-26.60 | $-20.96 | $-12.80 | $-12.10 | $-8.87 | $-1.32 | $-0.32 | $-0.18 |
| BPA Diluido | $-50.63 | $-33.40 | $-26.58 | $-20.96 | $-12.80 | $-12.10 | $-8.87 | $-1.32 | $-0.32 | $-0.18 |
| Acciones en Circulación (Diluidas) | $333514 | $337314 | $342771 | $351685 | $467142 | $651571 | $1.2M | $3.2M | $4.9M | $5.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $826000 | $975000 | $949000 | $3.7M |
| Beneficio Bruto | $147000 | $175000 | $221000 | -$255000 |
| Beneficio Operativo | -$173000 | -$334000 | -$141000 | -$868000 |
| EBITDA | -$163000 | -$347000 | -$132000 | -$857000 |
| Beneficio Neto | -$172000 | -$356000 | -$140000 | -$877000 |
| BPA | $-0.03 | $-0.06 | $-0.02 | $-0.14 |
| BPA Diluido | $-0.03 | $-0.06 | $-0.02 | $-0.14 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $16.6M | $10.8M | $6.3M | $350000 | $1.8M | $2.7M | $52000 | $2.0M | $565000 | $1.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | $796000 | $712000 | 0 | $792000 | 0 | 0 |
| Cuentas por Cobrar | $5.6M | $3.6M | $2.2M | $2.3M | $2.0M | $1.2M | $890000 | $1.8M | $804000 | $526000 |
| Inventario | $9.5M | $5.7M | $8.1M | $6.2M | $5.6M | $7.9M | $5.5M | $4.4M | $3.3M | $2.9M |
| Activos Corrientes | $32.6M | $20.9M | $17.7M | $9.3M | $11.1M | $13.4M | $7.2M | $9.2M | $5.1M | $4.6M |
| Inmovilizado Material | $2.3M | $1.1M | $610000 | $2.0M | $1.3M | $967000 | $1.3M | $1.0M | $467000 | $304000 |
| 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 | $35.0M | $22.2M | $18.5M | $11.7M | $12.4M | $14.4M | $8.5M | $10.2M | $5.6M | $5.1M |
| Cuentas por Pagar | $3.3M | $1.6M | $3.6M | $1.3M | $2.5M | $2.2M | $2.2M | $3.8M | $970000 | $158000 |
| Deuda a Corto | 0 | 0 | $2.2M | $3.3M | $2.8M | $3.9M | $4.9M | $1.3M | 0 | 0 |
| Pasivos Corrientes | $4.9M | $2.6M | $7.2M | $6.5M | $7.6M | $8.2M | $7.9M | $6.4M | $2.4M | $922000 |
| Deuda a Largo | 0 | 0 | 0 | $109000 | $266000 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $5.0M | $2.9M | $7.4M | $7.7M | $8.1M | $8.2M | $9.0M | $7.1M | $2.7M | $1.0M |
| Reservas | -$96.9M | -$108.2M | -$117.3M | -$124.9M | -$130.9M | -$138.7M | -$149.0M | -$153.3M | -$154.9M | -$155.9M |
| Patrimonio Neto | $29.9M | $19.3M | $11.1M | $4.0M | $4.3M | $6.2M | -$477000 | $3.1M | $2.9M | $4.1M |
| Deuda Total | 0 | 0 | $2.2M | $5.4M | $4.2M | $4.2M | $6.1M | $2.3M | $393000 | $217000 |
| Deuda Neta | -$16.6M | -$10.8M | -$4.1M | $5.0M | $1.5M | $846000 | $6.1M | -$478000 | -$172000 | -$847000 |
| Capital Circulante | $27.7M | $18.3M | $10.4M | $2.8M | $3.5M | $5.3M | -$704000 | $2.8M | $2.7M | $3.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $897000 | $1.1M | $1.1M | $1.1M |
| Activos Totales | $5.2M | $5.1M | $6.0M | $8.1M |
| Pasivos Totales | $2.1M | $1.0M | $2.0M | $4.8M |
| Patrimonio Neto | $3.1M | $4.1M | $4.0M | $3.3M |
| Deuda Total | $291000 | $217000 | $185000 | $1.1M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$16.9M | -$11.3M | -$9.1M | -$7.4M | -$6.0M | -$7.9M | -$10.3M | -$4.3M | -$1.6M | -$1.0M |
| Amortizaciones | $805000 | $681000 | $522000 | $326000 | $184000 | $188000 | $159000 | $33000 | $37000 | $37000 |
| Compensación en Acciones | $1.4M | $537000 | $908000 | $616000 | $131000 | $429000 | $117000 | $44000 | $4000 | $121000 |
| Cambio en Capital Circulante | -$7.1M | $5.5M | $821000 | -$412000 | $2.3M | -$1.3M | $2.6M | $1.6M | $243000 | -$766000 |
| Flujo de Caja Operativo | -$16.6M | -$5.9M | -$6.8M | -$6.6M | -$2.5M | -$9.8M | -$6.7M | -$2.4M | -$1.3M | -$1.4M |
| Inversiones (CapEx) | -$1.6M | -$162000 | -$57000 | -$132000 | -$223000 | -$443000 | -$41000 | -$69000 | -$19000 | -$54000 |
| Adquisiciones | $27000 | $97000 | $246000 | 0 | 0 | 0 | 0 | 0 | 0 | $13000 |
| Recompra de Acciones | -$309000 | -$49000 | -$62000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$18.2M | -$6.0M | -$6.9M | -$6.8M | -$2.7M | -$10.2M | -$6.8M | -$2.5M | -$1.3M | -$1.5M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$55000 | -$862000 | $69000 | -$819000 |
| Inversiones (CapEx) | -$49000 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$104000 | -$862000 | $69000 | -$819000 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $125000 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -36.0% | -8.8% | -29.8% | +32.5% | -41.4% | -39.5% | -4.2% | -15.0% | -26.7% |
| Crecimiento Beneficio Neto (anual) | | +33.3% | +19.1% | +19.1% | +18.9% | -31.9% | -30.3% | +58.2% | +63.1% | +35.1% |
| Crecimiento BPA (anual) | | +34.2% | +20.4% | +21.2% | +38.9% | +5.5% | +26.7% | +85.1% | +75.8% | +43.8% |
| Cambio en Acciones (anual) | | +1.1% | +1.6% | +2.6% | +32.8% | +39.5% | +77.8% | +179.7% | +52.6% | +12.2% |
| Crecimiento FCF (anual) | | +66.8% | -13.5% | +1.4% | +60.4% | -281.8% | +33.8% | +62.9% | +47.5% | -10.8% |
| Margen Bruto | 24.8% | 24.3% | 18.8% | 15.5% | 30.8% | 17.2% | -5.3% | 3.9% | 14.4% | 17.8% |
| Margen Operativo | -54.3% | -56.8% | -50.2% | -54.7% | -24.2% | -88.3% | -155.7% | -69.5% | -37.9% | -29.3% |
| Margen EBITDA | -51.8% | -53.9% | -47.3% | -52.9% | -23.4% | -86.6% | -147.4% | -67.8% | -31.6% | -27.8% |
| Margen Neto | -54.5% | -56.8% | -50.3% | -58.0% | -35.5% | -79.9% | -172.2% | -75.1% | -32.6% | -28.8% |
| Margen FCF | -58.6% | -30.4% | -37.8% | -53.2% | -15.9% | -103.5% | -113.2% | -43.9% | -27.1% | -41.0% |
| Tasa Impositiva Efectiva | -0.2% | 1.0% | -0.1% | -0.1% | 0.1% | 0.0% | -0.0% | -0.1% | -0.1% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-54.50 | $-17.89 | $-19.99 | $-19.21 | $-5.72 | $-15.67 | $-5.83 | $-0.77 | $-0.27 | $-0.26 |
| 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) | $332512 | $337314 | $342518 | $351685 | $467142 | $651571 | $1.2M | $3.2M | $4.9M | $5.6M |
Qué mirar en empresas de Consumer Cyclical
- Margen operativo medio 5a (Media del ciclo) — Mira la media del ciclo, no el año actual (pico o valle).
- Rotación de inventario (≥4x/año) — El retail sano rota inventario rápido. Una caída señala demanda débil.
- ROIC medio 5a (≥12%) — Cíclicas con ROIC medio >12% son ganadoras estructurales.
- Deuda neta / EBITDA (pico) (<3x en valle) — En cíclicas la deuda mata en recesión.
- Current Ratio (>1,5x) — Aguanta 12-18 meses sin caja operativa.
- Altman Z-Score (>2,99 seguro) — Modelo de bancarrota — clave en cíclicas sensibles a recesión.
Rentabilidad
| Margen bruto | 4.43% |
| Margen operativo | -23.33% |
| Margen neto | -23.77% |
Salud financiera
| Deuda / Patrimonio | 0.32 |
| Ratio corriente | 1.54 |
| Piotroski F-Score | 3 |
| Altman Z-Score | -34.13 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -2.93 | -2.57 | -0.82 | -0.78 | -2.20 | -2.47 | -0.25 | -1.14 | -3.72 | -12.83 |
| P/VC | 1.65 | 1.50 | 0.67 | 1.45 | 3.10 | 3.14 | -5.44 | 1.60 | 2.02 | 3.12 |
| P/V | 1.60 | 1.46 | 0.41 | 0.46 | 0.78 | 1.97 | 0.43 | 0.86 | 1.21 | 3.60 |
| Margen Bruto | 24.8% | 24.3% | 18.8% | 15.5% | 30.8% | 17.2% | -5.3% | 3.9% | 14.4% | 17.8% |
| Margen Operativo | -54.3% | -56.8% | -50.2% | -54.7% | -24.2% | -88.3% | -155.7% | -69.5% | -37.9% | -29.3% |
| Margen Neto | -54.5% | -56.8% | -50.3% | -58.0% | -35.5% | -79.9% | -172.2% | -75.1% | -32.6% | -28.8% |