Estados financieros detallados de EverCommerce Inc. (EVCM): 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
EverCommerce Inc. registró ingresos de $588.9M en el último ejercicio fiscal, con un CAGR de 5 años del 11.8%.
Márgenes de los últimos 12 meses: margen bruto 75.3%, margen operativo 10.8%, margen neto 5.7%. El flujo de caja libre creció a un CAGR del 19.7% en 5 años.
Al precio actual de $7.95, EVCM cotiza a un P/E de 42.83 y un ROE del 4.74%. La capitalización bursátil es de $1.4B.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $242.1M | $337.5M | $490.1M | $620.7M | $675.4M | $698.8M | $588.9M |
| Coste de Ventas | $73.1M | $115.0M | $162.2M | $217.4M | $231.0M | $228.4M | $132.1M |
| Beneficio Bruto | $169.0M | $222.5M | $327.9M | $403.4M | $444.4M | $470.4M | $456.8M |
| I+D | $26.1M | $30.4M | $49.5M | $71.6M | $75.6M | $79.7M | $79.0M |
| Generales y Administrativos | $144.2M | $137.3M | $204.2M | $251.5M | $255.8M | $261.9M | $251.3M |
| Gastos Operativos | $223.3M | $244.5M | $355.1M | $434.0M | $441.9M | $470.1M | $397.6M |
| Beneficio Operativo | -$54.3M | -$22.0M | -$27.2M | -$30.6M | $2.4M | $252000 | $59.2M |
| EBITDA | -$16.8M | $54.8M | $45.5M | $80.2M | $106.6M | $89.1M | $126.5M |
| Gastos por Intereses | $40.0M | $41.5M | $36.1M | $33.9M | $46.4M | $35.6M | $38.1M |
| Beneficio Antes de Impuestos | -$109.8M | -$63.6M | -$92.0M | -$64.5M | -$44.0M | -$35.3M | $21.2M |
| Impuestos | -$16.0M | -$3.6M | -$10.1M | -$4.7M | $1.6M | $5.8M | $3.0M |
| Beneficio Neto | -$93.7M | -$60.0M | -$82.0M | -$59.8M | -$45.6M | -$41.1M | $17.6M |
| BPA | $-0.48 | $-0.31 | $-0.42 | $-0.31 | $-0.24 | $-0.22 | $0.10 |
| BPA Diluido | $-0.48 | $-0.31 | $-0.42 | $-0.31 | $-0.24 | $-0.22 | $0.10 |
| Acciones en Circulación (Diluidas) | $195.4M | $195.4M | $195.4M | $194.6M | $188.9M | $184.9M | $183.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $147.5M | $151.2M | $147.5M | $152.0M |
| Beneficio Bruto | $114.0M | $117.1M | $99.7M | $119.5M |
| Beneficio Operativo | $16.0M | $13.3M | $18.1M | $17.5M |
| EBITDA | $23.9M | $40.2M | $30.7M | $39.0M |
| Beneficio Neto | $11.1M | $6.0M | $7.2M | $9.7M |
| BPA | $0.06 | $0.03 | $0.04 | $0.05 |
| BPA Diluido | $0.06 | $0.03 | $0.04 | $0.05 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $54.9M | $96.0M | $94.0M | $92.6M | $92.6M | $135.8M | $129.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $25.9M | $34.8M | $51.6M | $61.0M | $61.5M | $53.5M | $48.7M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $97.0M | $143.8M | $171.6M | $180.6M | $180.1M | $218.3M | $212.8M |
| Inmovilizado Material | $11.7M | $14.7M | $13.5M | $11.9M | $9.7M | $6.7M | $5.7M |
| Fondo de Comercio | $426.6M | $668.2M | $921.4M | $914.1M | $927.4M | $886.3M | $893.8M |
| Activos Intangibles | $377.0M | $486.8M | $532.5M | $438.3M | $358.0M | $270.5M | $164.2M |
| Activos Totales | $920.2M | $1.33B | $1.66B | $1.59B | $1.52B | $1.42B | $1.37B |
| Cuentas por Pagar | $4.3M | $11.1M | $10.3M | $8.4M | $8.6M | $8.0M | $5.1M |
| Deuda a Corto | $4.6M | $7.3M | $10.9M | $5.5M | $5.5M | $5.5M | $9.3M |
| Pasivos Corrientes | $50.1M | $86.7M | $103.4M | $105.1M | $117.4M | $110.7M | $100.7M |
| Deuda a Largo | $434.1M | $691.0M | $535.2M | $530.9M | $526.7M | $522.4M | $517.9M |
| Pasivos Totales | $504.8M | $808.4M | $677.7M | $685.0M | $692.0M | $670.4M | $654.9M |
| Reservas | -$371.3M | -$431.3M | -$513.2M | -$573.0M | -$620.0M | -$661.1M | -$643.5M |
| Patrimonio Neto | $415.5M | $519.2M | $985.6M | $906.7M | $826.0M | $750.8M | $716.9M |
| Deuda Total | $438.8M | $698.3M | $546.1M | $536.4M | $532.2M | $527.9M | $537.2M |
| Deuda Neta | $383.9M | $602.3M | $452.1M | $443.8M | $439.6M | $392.2M | $407.5M |
| Capital Circulante | $47.0M | $57.1M | $68.2M | $75.5M | $62.8M | $107.6M | $112.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $106.9M | $129.7M | $129.3M | $133.5M |
| Activos Totales | $1.40B | $1.37B | $1.37B | $1.36B |
| Pasivos Totales | $674.6M | $654.9M | $654.3M | $649.2M |
| Patrimonio Neto | $728.5M | $716.9M | $714.0M | $715.3M |
| Deuda Total | $544.0M | $537.2M | $522.2M | $529.6M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$93.7M | -$60.0M | -$82.0M | -$59.8M | -$45.6M | -$41.1M | $17.6M |
| Amortizaciones | $52.9M | $76.8M | $101.4M | $110.8M | $104.2M | $88.8M | $68.4M |
| Compensación en Acciones | $30.1M | $10.7M | $22.1M | $26.8M | $25.6M | $26.5M | $28.4M |
| Cambio en Capital Circulante | $11.9M | $26.1M | -$28.4M | -$17.9M | $5.4M | -$5.8M | -$25.6M |
| Flujo de Caja Operativo | -$613000 | $57.5M | $37.5M | $64.8M | $104.6M | $113.2M | $111.5M |
| Inversiones (CapEx) | -$13.3M | -$13.1M | -$14.8M | -$18.1M | -$23.1M | -$18.9M | -$2.2M |
| Adquisiciones | -$310.5M | -$403.2M | -$364.9M | 0 | -$14.9M | 0 | -$35.8M |
| Recompra de Acciones | -$23.5M | 0 | 0 | -$43.0M | -$67.3M | -$57.7M | -$85.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$13.9M | $44.5M | $22.7M | $46.7M | $81.5M | $94.3M | $109.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $32.5M | $21.3M | $24.6M | $28.5M |
| Inversiones (CapEx) | -$941000 | -$10.4M | -$856000 | -$629000 |
| Flujo de Caja Libre | $31.6M | $10.8M | $23.7M | $27.9M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $6.8M | $6.4M | $5.9M | $5.8M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +39.4% | +45.2% | +26.6% | +8.8% | +3.5% | -15.7% |
| Crecimiento Beneficio Neto (anual) | | +36.0% | -36.7% | +27.0% | +23.7% | +9.9% | +142.8% |
| Crecimiento BPA (anual) | | +35.4% | -35.5% | +26.2% | +22.6% | +8.3% | +144.1% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | -0.4% | -2.9% | -2.1% | -0.5% |
| Crecimiento FCF (anual) | | +419.0% | -49.0% | +105.9% | +74.5% | +15.6% | +15.9% |
| Margen Bruto | 69.8% | 65.9% | 66.9% | 65.0% | 65.8% | 67.3% | 77.6% |
| Margen Operativo | -22.4% | -6.5% | -5.5% | -4.9% | 0.4% | 0.0% | 10.1% |
| Margen EBITDA | -6.9% | 16.2% | 9.3% | 12.9% | 15.8% | 12.7% | 21.5% |
| Margen Neto | -38.7% | -17.8% | -16.7% | -9.6% | -6.8% | -5.9% | 3.0% |
| Margen FCF | -5.8% | 13.2% | 4.6% | 7.5% | 12.1% | 13.5% | 18.5% |
| Tasa Impositiva Efectiva | 14.6% | 5.7% | 10.9% | 7.3% | -3.7% | -16.4% | 14.0% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.07 | $0.23 | $0.12 | $0.24 | $0.43 | $0.51 | $0.59 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $195.4M | $195.4M | $195.4M | $194.6M | $188.9M | $184.9M | $181.4M |
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 | 4.74% |
| Rentabilidad sobre capital invertido | 4.58% |
| Rentabilidad sobre activos | 2.50% |
| Margen bruto | 75.29% |
| Margen operativo | 10.84% |
| Margen neto | 5.69% |
Salud financiera
| Deuda / Patrimonio | 0.74 |
| Ratio corriente | 2.14 |
| Piotroski F-Score | 7 |
| Altman Z-Score | 2.03 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -36.67 | -56.77 | -37.50 | -24.00 | -45.96 | -50.05 | 124.85 |
| P/VC | 8.28 | 6.62 | 3.12 | 1.60 | 2.52 | 2.71 | 3.06 |
| P/V | 14.20 | 10.19 | 6.28 | 2.33 | 3.09 | 2.91 | 3.73 |
| Margen Bruto | 69.8% | 65.9% | 66.9% | 65.0% | 65.8% | 67.3% | 77.6% |
| Margen Operativo | -22.4% | -6.5% | -5.5% | -4.9% | 0.4% | 0.0% | 10.1% |
| Margen Neto | -38.7% | -17.8% | -16.7% | -9.6% | -6.8% | -5.9% | 3.0% |