Estados financieros detallados de Fidus Investment Corporation (FDUS): 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
Fidus Investment Corporation registró ingresos de $159.2M en el último ejercicio fiscal, con un CAGR de 5 años del 22.6%. El beneficio neto alcanzó $82.4M, con un CAGR a 5 años del 21.4%.
Márgenes de los últimos 12 meses: margen bruto 73.6%, margen operativo 69.8%, margen neto 52.3%.
Al precio actual de $19.25, FDUS cotiza a un P/E de 9.22 y un ROE del 10.54%. La capitalización bursátil es de $731M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $47.3M | $51.7M | $56.9M | $71.0M | $57.4M | $146.4M | $71.6M | $108.6M | $113.7M | $159.2M |
| Coste de Ventas | $8.3M | $9.8M | $11.4M | $15.2M | $17.4M | $16.9M | $16.6M | $20.6M | $22.3M | $43.6M |
| Beneficio Bruto | $52.0M | $58.8M | $65.1M | $55.8M | $40.0M | $129.5M | $55.1M | $88.0M | $91.4M | $115.6M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $4.0M | $4.1M | $4.3M | $4.4M | $5.2M | $4.5M | $5.4M | $6.3M | $6.8M | $4.5M |
| Gastos Operativos | $12.0M | $8.0M | -$2.9M | $6.7M | $7.3M | $10.8M | $7.4M | $8.2M | $9.2M | -$5.6M |
| Beneficio Operativo | $27.0M | $33.9M | $48.4M | $49.1M | $32.7M | $118.7M | $47.6M | $79.8M | $82.2M | $121.2M |
| EBITDA | $52.6M | $59.5M | $63.9M | $49.1M | $39.2M | $118.7M | $65.75B | $79.8M | $82.2M | $120.3M |
| Gastos por Intereses | $10.6M | $9.9M | $11.3M | $15.2M | $17.4M | $16.9M | $16.6M | $20.6M | $22.3M | $28.8M |
| Beneficio Antes de Impuestos | $42.2M | $46.4M | $50.9M | $49.1M | $32.7M | $118.7M | $47.6M | $79.8M | $82.2M | $88.7M |
| Impuestos | $630000 | $2.4M | $1.5M | $621000 | $1.4M | $2.6M | $11.8M | $2.7M | $3.9M | $6.3M |
| Beneficio Neto | $41.6M | $44.0M | $49.5M | $48.5M | $31.2M | $116.1M | $35.8M | $77.1M | $78.3M | $82.4M |
| BPA | $2.27 | $1.87 | $2.02 | $1.98 | $1.28 | $4.75 | $1.46 | $2.93 | $2.40 | $2.32 |
| BPA Diluido | $2.27 | $1.87 | $2.02 | $1.98 | $1.28 | $4.75 | $1.46 | $2.93 | $2.40 | $2.32 |
| Acciones en Circulación (Diluidas) | $18.3M | $23.5M | $24.5M | $24.5M | $24.4M | $24.4M | $24.5M | $26.4M | $32.6M | $35.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $29.8M | $32.7M | $35.3M | $49.9M |
| Beneficio Bruto | $22.8M | $24.0M | $23.8M | $38.1M |
| Beneficio Operativo | $20.0M | $21.8M | $29.9M | $31.5M |
| EBITDA | $20.0M | $21.8M | $29.8M | $31.3M |
| Beneficio Neto | $19.1M | $18.3M | $19.9M | $20.0M |
| BPA | $0.54 | $0.50 | $0.52 | $0.53 |
| BPA Diluido | $0.54 | $0.50 | $0.52 | $0.53 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $57.1M | $41.6M | $42.0M | $15.0M | $124.3M | $169.4M | $62.4M | $119.1M | $57.2M | $70.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $4.4M | $7.4M | $7.5M | $6.3M | $7.5M | $8.2M | $11.8M | $12.0M | $15.1M | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $62.3M | $50.0M | $49.5M | $22.5M | $132.9M | $178.1M | $75.6M | $133.0M | $72.3M | $70.0M |
| Inmovilizado Material | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 | $586.7M | $646.3M | $693.9M | $789.4M | $875.7M | $897.2M | $936.0M | $1.09B | $1.16B | $1.43B |
| Cuentas por Pagar | $441000 | $164000 | $172000 | $3.5M | $3.5M | $4.7M | $4.7M | $6.7M | $5.8M | $7.4M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $13.5M | $15.2M | $19.4M | $3.5M | $3.5M | $4.7M | $4.7M | $34.9M | $33.6M | $38.7M |
| Deuda a Largo | $219.4M | $237.8M | $271.5M | $354.6M | $443.2M | $366.0M | $410.1M | $466.5M | $474.9M | $644.1M |
| Pasivos Totales | $233.0M | $253.0M | $290.9M | $377.1M | $465.0M | $409.4M | $455.6M | $501.4M | $508.4M | $684.6M |
| Reservas | $9.6M | $5.7M | $36.7M | $46.2M | $46.8M | $125.9M | $84.4M | $85.1M | $88.5M | $100.5M |
| Patrimonio Neto | $353.8M | $393.3M | $403.0M | $412.3M | $410.8M | $487.8M | $480.3M | $589.5M | $655.7M | $741.9M |
| Deuda Total | $219.4M | $237.8M | $271.5M | $354.6M | $443.2M | $366.0M | $410.1M | $466.5M | $474.9M | $644.1M |
| Deuda Neta | $162.4M | $196.3M | $229.5M | $339.6M | $318.9M | $196.6M | $347.8M | $347.4M | $417.7M | $574.1M |
| Capital Circulante | $48.8M | $34.8M | $30.2M | $19.0M | $129.4M | $173.4M | $70.9M | $98.1M | $38.7M | $31.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $62.3M | $70.0M | $49.7M | $37.6M |
| Activos Totales | $1.28B | $1.43B | $1.44B | $1.50B |
| Pasivos Totales | $566.7M | $684.6M | $702.2M | $762.6M |
| Patrimonio Neto | $711.0M | $741.9M | $742.0M | $738.5M |
| Deuda Total | $533.5M | $644.1M | $668.1M | $288.1M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $41.6M | $44.0M | $49.5M | $48.5M | $31.2M | $116.1M | $35.8M | $77.1M | $78.3M | $82.4M |
| Amortizaciones | -$29.0M | $5.4M | -$25.7M | 0 | $6.6M | -$41.50B | $65.70B | 0 | 0 | $2.9M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $4.9M | -$1.5M | $3.7M | $4.5M | -$1.9M | $21.6M | -$2.5M | -$11.2M | -$3.7M | -$1.5M |
| Flujo de Caja Operativo | -$33.6M | -$28.2M | $8.1M | -$68.7M | $56.0M | $167.9M | -$105.5M | $48.4M | $62.4M | -$147.0M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | -$582000 | 0 | -$268000 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$29.9M | -$36.8M | -$39.2M | -$39.1M | -$32.5M | -$39.1M | -$49.1M | -$78.3M | -$78.4M | -$75.5M |
| Flujo de Caja Libre | -$33.6M | -$28.2M | $8.1M | -$68.7M | $56.0M | $167.9M | -$105.5M | $48.4M | $62.4M | -$147.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$31.9M | -$104.8M | $13.0M | -$74.5M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$31.9M | -$104.8M | $13.0M | -$74.5M |
| Dividendos Pagados | -$20.0M | -$19.0M | -$19.7M | -$43.3M |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +9.3% | +10.0% | +24.9% | -19.2% | +155.2% | -51.1% | +51.6% | +4.7% | +40.1% |
| Crecimiento Beneficio Neto (anual) | | +5.7% | +12.5% | -2.0% | -35.6% | +271.8% | -69.1% | +115.3% | +1.5% | +5.2% |
| Crecimiento BPA (anual) | | -17.6% | +8.0% | -2.0% | -35.4% | +271.1% | -69.3% | +100.7% | -18.1% | -3.3% |
| Cambio en Acciones (anual) | | +28.7% | +4.0% | -0.0% | -0.1% | -0.0% | +0.1% | +7.8% | +23.6% | +8.9% |
| Crecimiento FCF (anual) | | +16.1% | +128.9% | -943.5% | +181.4% | +200.0% | -162.9% | +145.9% | +28.8% | -335.7% |
| Margen Bruto | 109.9% | 113.8% | 114.4% | 78.6% | 69.7% | 88.4% | 76.9% | 81.0% | 80.4% | 72.6% |
| Margen Operativo | 57.1% | 65.6% | 85.2% | 69.1% | 56.9% | 81.1% | 66.5% | 73.5% | 72.3% | 76.1% |
| Margen EBITDA | 111.2% | 115.1% | 112.3% | 69.1% | 68.4% | 81.1% | 91808.6% | 73.5% | 72.3% | 75.5% |
| Margen Neto | 87.9% | 85.0% | 87.0% | 68.3% | 54.4% | 79.3% | 50.0% | 71.0% | 68.9% | 51.7% |
| Margen FCF | -71.1% | -54.6% | 14.3% | -96.8% | 97.5% | 114.7% | -147.4% | 44.6% | 54.9% | -92.3% |
| Tasa Impositiva Efectiva | 1.5% | 5.2% | 2.9% | 1.3% | 4.4% | 2.2% | 24.8% | 3.4% | 4.8% | 7.1% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.84 | $-1.20 | $0.33 | $-2.81 | $2.29 | $6.87 | $-4.31 | $1.84 | $1.91 | $-4.14 |
| Dividendo por Acción | $1.63 | $1.56 | $1.60 | $1.60 | $1.33 | $1.60 | $2.00 | $2.97 | $2.41 | $2.13 |
| Acciones en Circulación (Básicas) | $18.3M | $23.5M | $24.5M | $24.5M | $24.4M | $24.4M | $24.5M | $26.4M | $32.6M | $35.5M |
Qué mirar en Servicios Financieros
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- 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
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Rentabilidad
| Rentabilidad sobre capital | 10.54% |
| Rentabilidad sobre capital invertido | 6.47% |
| Rentabilidad sobre activos | 5.15% |
| Margen bruto | 73.60% |
| Margen operativo | 69.82% |
| Margen neto | 52.34% |
Salud financiera
| Deuda / Patrimonio | 0.39 |
| Ratio corriente | 220.58 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 6.93 | 8.12 | 5.79 | 7.49 | 10.23 | 3.79 | 13.03 | 6.72 | 8.76 | 8.32 |
| P/VC | 0.81 | 0.91 | 0.71 | 0.88 | 0.78 | 0.90 | 0.97 | 0.88 | 1.04 | 0.92 |
| P/V | 6.08 | 6.91 | 5.03 | 5.11 | 5.58 | 3.00 | 6.50 | 4.78 | 6.03 | 4.30 |
| Margen Bruto | 109.9% | 113.8% | 114.4% | 78.6% | 69.7% | 88.4% | 76.9% | 81.0% | 80.4% | 72.6% |
| Margen Operativo | 57.1% | 65.6% | 85.2% | 69.1% | 56.9% | 81.1% | 66.5% | 73.5% | 72.3% | 76.1% |
| Margen Neto | 87.9% | 85.0% | 87.0% | 68.3% | 54.4% | 79.3% | 50.0% | 71.0% | 68.9% | 51.7% |