Estados financieros detallados de FatPipe, Inc. (FATN): 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
Márgenes de los últimos 12 meses: margen bruto 90.7%, margen operativo 17.2%, margen neto 26.9%.
Al precio actual de $5.52, FATN cotiza a un P/E de 13.70 y un ROE del 23.24%. La capitalización bursátil es de $77M.
Cuenta de Resultados (10 años)
| Año | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $12.4M | $15.8M | $17.9M | $16.3M | $19.2M |
| Coste de Ventas | $691605 | $1.1M | $1.1M | $1.1M | $1.7M |
| Beneficio Bruto | $11.7M | $14.7M | $16.8M | $15.2M | $17.5M |
| I+D | $1.6M | $1.8M | $1.7M | $1.8M | $1.9M |
| Generales y Administrativos | $10.3M | $9.7M | $9.4M | $10.0M | $12.0M |
| Gastos Operativos | $11.9M | $11.5M | $11.2M | $11.8M | $13.9M |
| Beneficio Operativo | -$224135 | $3.2M | $5.6M | $3.5M | $3.6M |
| EBITDA | $1.0M | $3.8M | $6.6M | $4.2M | $4.3M |
| Gastos por Intereses | $31271 | $107131 | $302124 | $329892 | $475071 |
| Beneficio Antes de Impuestos | $486878 | $3.1M | $5.6M | $3.3M | $3.5M |
| Impuestos | $32685 | $255457 | $1.3M | $1.3M | -$1.5M |
| Beneficio Neto | $483731 | $2.9M | $4.4M | $2.0M | $5.0M |
| BPA | $0.04 | $0.21 | $0.32 | $0.15 | $0.36 |
| BPA Diluido | $0.04 | $0.21 | $0.32 | $0.15 | $0.35 |
| Acciones en Circulación (Diluidas) | $13.8M | $13.8M | $15.1M | $12.9M | $14.0M |
Balance (10 años)
| Año | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $1.4M | $1.1M | $1.1M | $2.9M | $5.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $4.1M | $4.8M | $7.5M | $9.0M | $10.7M |
| Inventario | $655988 | $355950 | $113522 | $419677 | $445842 |
| Activos Corrientes | $6.3M | $7.2M | $9.3M | $13.0M | $16.5M |
| Inmovilizado Material | $139887 | $801157 | $280475 | $1.5M | $1.1M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $2.6M | $2.2M | $1.6M | $1.0M | $694192 |
| Activos Totales | $10.8M | $15.7M | $21.4M | $28.3M | $34.5M |
| Cuentas por Pagar | $74511 | $241107 | $417527 | $437253 | $390174 |
| Deuda a Corto | $86352 | 0 | $120000 | $463422 | $792803 |
| Pasivos Corrientes | $3.2M | $4.0M | $4.7M | $6.5M | $4.3M |
| Deuda a Largo | $855831 | $2.0M | $2.5M | $4.6M | $4.2M |
| Pasivos Totales | $4.0M | $6.2M | $7.4M | $12.4M | $9.3M |
| Reservas | $1.9M | $4.7M | $9.0M | $11.1M | $16.1M |
| Patrimonio Neto | $6.6M | $9.4M | $13.9M | $15.9M | $25.2M |
| Deuda Total | $942183 | $2.6M | $2.8M | $6.6M | $5.7M |
| Deuda Neta | -$433669 | $1.6M | $1.7M | $3.7M | $493351 |
| Capital Circulante | $3.1M | $3.3M | $4.6M | $6.5M | $12.2M |
Flujo de Caja (10 años)
| Año | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | $454193 | $3.1M | $4.3M | $2.0M | $5.0M |
| Amortizaciones | $513754 | $582326 | $699257 | $545709 | $369249 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | $770220 |
| Cambio en Capital Circulante | -$842619 | -$4.4M | -$5.6M | -$3.8M | -$8.0M |
| Flujo de Caja Operativo | -$190614 | -$1.8M | -$363425 | -$504124 | -$780393 |
| Inversiones (CapEx) | -$38355 | -$163528 | -$19188 | -$19762 | -$52483 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$228969 | -$2.0M | -$382613 | -$523886 | -$832876 |
Crecimiento y Márgenes (10 años)
| Año | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +27.4% | +13.1% | -8.8% | +17.9% |
| Crecimiento Beneficio Neto (anual) | | +501.9% | +50.0% | -55.0% | +152.7% |
| Crecimiento BPA (anual) | | +498.3% | +52.4% | -53.1% | +140.0% |
| Cambio en Acciones (anual) | | +0.0% | +9.6% | -14.8% | +8.9% |
| Crecimiento FCF (anual) | | -776.0% | +80.9% | -36.9% | -59.0% |
| Margen Bruto | 94.4% | 93.0% | 94.0% | 93.5% | 91.0% |
| Margen Operativo | -1.8% | 20.5% | 31.6% | 21.3% | 18.7% |
| Margen EBITDA | 8.3% | 24.3% | 37.0% | 25.6% | 22.5% |
| Margen Neto | 3.9% | 18.4% | 24.4% | 12.1% | 25.9% |
| Margen FCF | -1.8% | -12.7% | -2.1% | -3.2% | -4.3% |
| Tasa Impositiva Efectiva | 6.7% | 8.1% | 23.6% | 40.6% | -42.6% |
Datos por Acción (10 años)
| Año | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $-0.02 | $-0.15 | $-0.03 | $-0.04 | $-0.06 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $13.8M | $13.8M | $13.7M | $12.9M | $13.9M |
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 | 23.24% |
| Rentabilidad sobre capital invertido | 10.82% |
| Rentabilidad sobre activos | 15.38% |
| Margen bruto | 90.68% |
| Margen operativo | 17.18% |
| Margen neto | 26.87% |
Salud financiera
| Deuda / Patrimonio | 0.21 |
| Ratio corriente | 3.98 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 4.16 |
Ratios Clave (10 años)
| Año | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | 370.37 | 61.90 | 40.62 | 86.67 | 6.78 |
| P/VC | 27.26 | 19.10 | 12.80 | 10.50 | 1.34 |
| P/V | 14.44 | 11.33 | 9.99 | 10.26 | 1.76 |
| Margen Bruto | 94.4% | 93.0% | 94.0% | 93.5% | 91.0% |
| Margen Operativo | -1.8% | 20.5% | 31.6% | 21.3% | 18.7% |
| Margen Neto | 3.9% | 18.4% | 24.4% | 12.1% | 25.9% |