Estados financieros detallados de First Hawaiian, Inc. (FHB): 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
First Hawaiian, Inc. registró ingresos de $1.17B en el último ejercicio fiscal, con un CAGR de 5 años del 9.0%. El beneficio neto alcanzó $276.3M, con un CAGR a 5 años del 8.3%.
Márgenes de los últimos 12 meses: margen bruto 70.7%, margen operativo 19.4%, margen neto 29.2%. El flujo de caja libre creció a un CAGR del 11.5% en 5 años.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $722.1M | $753.0M | $800.2M | $841.3M | $758.0M | $709.0M | $811.8M | $1.09B | $1.13B | $1.17B |
| Coste de Ventas | $35.4M | $60.5M | $101.9M | $119.1M | $168.7M | -$20.2M | $51.1M | $314.1M | $372.1M | $314.8M |
| Beneficio Bruto | $686.6M | $692.5M | $698.3M | $722.2M | $589.3M | $729.2M | $760.7M | $778.7M | $760.0M | $853.6M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $163.3M | $169.3M | $172.0M | $180.0M | $179.9M | $188.5M | $207.1M | $233.4M | $243.3M | $401.3M |
| Gastos Operativos | $314.8M | $324.2M | $340.1M | $340.5M | $345.6M | $380.2M | $409.5M | $469.5M | $467.4M | $499.3M |
| Beneficio Operativo | $371.8M | $368.4M | $358.2M | $381.7M | $243.7M | $349.0M | $351.2M | $309.2M | $292.6M | $354.2M |
| EBITDA | $424.0M | $430.4M | $413.1M | $449.5M | $306.8M | $400.8M | $408.0M | $351.9M | $330.6M | $387.8M |
| Gastos por Intereses | $26.8M | $42.0M | $79.7M | $105.3M | $47.0M | $18.8M | $49.7M | $287.5M | $357.3M | $287.6M |
| Beneficio Antes de Impuestos | $371.8M | $368.4M | $358.2M | $381.7M | $243.7M | $349.0M | $351.2M | $309.2M | $292.6M | $354.2M |
| Impuestos | $141.7M | $184.7M | $93.8M | $97.3M | $58.0M | $83.3M | $85.5M | $74.2M | $62.5M | $78.0M |
| Beneficio Neto | $230.2M | $183.7M | $264.4M | $284.4M | $185.8M | $265.7M | $265.7M | $235.0M | $230.1M | $276.3M |
| BPA | $1.65 | $1.32 | $1.93 | $2.14 | $1.43 | $2.06 | $2.08 | $1.84 | $1.80 | $2.21 |
| BPA Diluido | $1.65 | $1.32 | $1.93 | $2.13 | $1.43 | $2.05 | $2.08 | $1.84 | $1.79 | $2.20 |
| Acciones en Circulación (Diluidas) | $139.5M | $139.7M | $137.1M | $133.4M | $130.2M | $129.5M | $128.0M | $127.9M | $128.3M | $125.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $290.9M | $292.4M | $282.5M | $110.4M |
| Beneficio Bruto | $213.2M | $218.2M | $215.3M | $43.4M |
| Beneficio Operativo | $96.1M | $93.1M | $87.5M | -$86.9M |
| EBITDA | $104.0M | $101.0M | $95.8M | -$95.4M |
| Beneficio Neto | $73.8M | $69.9M | $67.8M | $73.4M |
| BPA | $0.59 | $0.57 | $0.55 | $0.61 |
| BPA Diluido | $0.59 | $0.56 | $0.55 | $0.60 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.05B | $1.03B | $1.00B | $694.0M | $1.04B | $1.26B | $526.6M | $1.74B | $1.17B | $228.7M |
| Inversiones a Corto | $5.08B | $5.23B | $4.50B | $4.08B | 0 | $8.43B | $3.15B | $2.26B | $8.1M | 0 |
| Cuentas por Cobrar | $42.0M | $48.0M | $48.9M | $45.2M | $315.0M | $294.6M | $376.3M | $462.5M | $512.4M | $77.6M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $6.17B | $6.32B | $5.55B | $4.81B | $1.36B | $9.98B | $4.05B | $4.46B | $1.69B | $306.4M |
| Inmovilizado Material | $300.8M | $289.2M | $305.0M | $316.9M | $322.4M | $318.4M | $280.4M | $281.5M | $288.5M | $303.5M |
| Fondo de Comercio | $995.5M | $995.5M | $995.5M | $995.5M | $995.5M | $995.5M | $995.5M | $995.5M | $995.5M | $995.5M |
| Activos Intangibles | $16.8M | $13.2M | $16.2M | $12.7M | $10.7M | $8.3M | $6.6M | $5.7M | $5.1M | $4.6M |
| Activos Totales | $19.66B | $20.55B | $20.70B | $20.17B | $22.66B | $24.99B | $24.58B | $24.93B | $23.83B | $23.96B |
| Cuentas por Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda a Corto | $9.2M | 0 | 0 | $800.0M | 0 | 0 | $75.0M | $500.0M | $250.0M | 0 |
| Pasivos Corrientes | $16.94B | $17.75B | $17.28B | $17.38B | $19.23B | $21.82B | $21.87B | $21.83B | $20.67B | $10.84B |
| Deuda a Largo | 0 | 0 | $600.0M | $200.0M | $200.0M | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $17.19B | $18.02B | $18.17B | $17.53B | $19.92B | $22.34B | $22.31B | $22.44B | $21.21B | $21.19B |
| Reservas | $78.8M | $139.2M | $291.9M | $437.1M | $474.0M | $604.5M | $736.5M | $837.9M | $934.0M | $1.08B |
| Patrimonio Neto | $2.48B | $2.53B | $2.52B | $2.64B | $2.74B | $2.66B | $2.27B | $2.49B | $2.62B | $2.77B |
| Deuda Total | $9.2M | $34000 | $600.0M | $1.00B | $200.0M | 0 | $75.0M | $500.0M | $250.0M | 0 |
| Deuda Neta | -$6.12B | -$6.27B | -$4.90B | -$3.77B | -$840.9M | -$9.69B | -$3.60B | -$3.50B | -$928.3M | -$228.7M |
| Capital Circulante | -$10.77B | -$11.43B | -$11.73B | -$12.57B | -$17.87B | -$11.84B | -$17.81B | -$17.37B | -$18.98B | -$10.53B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $1.86B | $228.7M | $225.7M | $263.8M |
| Activos Totales | $24.10B | $23.96B | $24.26B | $23.65B |
| Pasivos Totales | $21.36B | $21.19B | $21.50B | $20.82B |
| Patrimonio Neto | $2.73B | $2.77B | $2.77B | $2.83B |
| Deuda Total | 0 | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $230.2M | $183.7M | $264.4M | $284.4M | $185.8M | $265.7M | $265.7M | $235.0M | $230.1M | $276.3M |
| Amortizaciones | $52.2M | $62.0M | $54.9M | $67.8M | $63.1M | $51.8M | $56.7M | $42.8M | $38.0M | $33.6M |
| Compensación en Acciones | $4.5M | $5.3M | $6.2M | $7.8M | $10.0M | $13.1M | $10.3M | $9.6M | $11.9M | $15.9M |
| Cambio en Capital Circulante | -$51.4M | -$51.5M | -$15.2M | -$97.2M | -$132.5M | $102.4M | $72.0M | -$39.6M | $10.9M | -$13.5M |
| Flujo de Caja Operativo | $220.1M | $269.8M | $351.4M | $296.5M | $209.5M | $417.1M | $430.6M | $255.0M | $317.5M | $335.1M |
| Inversiones (CapEx) | -$15.5M | -$10.1M | -$42.3M | -$29.4M | -$33.4M | -$20.5M | -$13.3M | -$16.0M | -$28.8M | -$31.8M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | -$131.8M | -$136.2M | -$5.0M | -$75.0M | -$9.5M | 0 | -$40.0M | -$100.3M |
| Dividendos Pagados | -$447.0M | -$124.9M | -$131.0M | -$138.2M | -$135.1M | -$134.1M | -$132.6M | -$132.6M | -$132.8M | -$131.0M |
| Flujo de Caja Libre | $204.6M | $259.7M | $309.1M | $267.1M | $176.1M | $396.7M | $417.3M | $239.0M | $288.7M | $303.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $57.1M | $104.9M | $159.7M | $13.2M |
| Inversiones (CapEx) | -$7.6M | -$4.9M | -$4.3M | $4.3M |
| Flujo de Caja Libre | $49.5M | $100.0M | $155.4M | $17.5M |
| Dividendos Pagados | -$32.3M | -$32.2M | -$33.1M | -$31.7M |
| Compensación en Acciones | $4.1M | $4.2M | $4.0M | $4.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +4.3% | +6.3% | +5.1% | -9.9% | -6.5% | +14.5% | +34.6% | +3.6% | +3.2% |
| Crecimiento Beneficio Neto (anual) | | -20.2% | +43.9% | +7.6% | -34.7% | +43.1% | -0.0% | -11.6% | -2.1% | +20.0% |
| Crecimiento BPA (anual) | | -20.0% | +46.2% | +10.9% | -33.2% | +44.1% | +1.0% | -11.5% | -2.2% | +22.8% |
| Cambio en Acciones (anual) | | +0.1% | -1.8% | -2.7% | -2.4% | -0.5% | -1.2% | -0.1% | +0.3% | -2.2% |
| Crecimiento FCF (anual) | | +27.0% | +19.0% | -13.6% | -34.1% | +125.2% | +5.2% | -42.7% | +20.8% | +5.0% |
| Margen Bruto | 95.1% | 92.0% | 87.3% | 85.8% | 77.7% | 102.9% | 93.7% | 71.3% | 67.1% | 73.1% |
| Margen Operativo | 51.5% | 48.9% | 44.8% | 45.4% | 32.2% | 49.2% | 43.3% | 28.3% | 25.8% | 30.3% |
| Margen EBITDA | 58.7% | 57.2% | 51.6% | 53.4% | 40.5% | 56.5% | 50.3% | 32.2% | 29.2% | 33.2% |
| Margen Neto | 31.9% | 24.4% | 33.0% | 33.8% | 24.5% | 37.5% | 32.7% | 21.5% | 20.3% | 23.6% |
| Margen FCF | 28.3% | 34.5% | 38.6% | 31.8% | 23.2% | 55.9% | 51.4% | 21.9% | 25.5% | 26.0% |
| Tasa Impositiva Efectiva | 38.1% | 50.1% | 26.2% | 25.5% | 23.8% | 23.9% | 24.4% | 24.0% | 21.4% | 22.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $1.47 | $1.86 | $2.25 | $2.00 | $1.35 | $3.06 | $3.26 | $1.87 | $2.25 | $2.42 |
| Dividendo por Acción | $3.20 | $0.89 | $0.96 | $1.04 | $1.04 | $1.04 | $1.04 | $1.04 | $1.03 | $1.04 |
| Acciones en Circulación (Básicas) | $139.5M | $139.6M | $136.9M | $133.1M | $129.9M | $129.0M | $127.5M | $127.6M | $127.7M | $124.8M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Margen bruto | 70.68% |
| Margen operativo | 19.44% |
| Margen neto | 29.18% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 0.02 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 21.10 | 22.11 | 11.66 | 13.48 | 16.49 | 13.27 | 12.52 | 12.42 | 14.42 | 11.45 |
| P/VC | 1.96 | 1.61 | 1.22 | 1.45 | 1.12 | 1.33 | 1.46 | 1.17 | 1.27 | 1.14 |
| P/V | 6.73 | 5.41 | 3.85 | 4.56 | 4.04 | 4.97 | 4.09 | 2.67 | 2.93 | 2.70 |
| Margen Bruto | 95.1% | 92.0% | 87.3% | 85.8% | 77.7% | 102.9% | 93.7% | 71.3% | 67.1% | 73.1% |
| Margen Operativo | 51.5% | 48.9% | 44.8% | 45.4% | 32.2% | 49.2% | 43.3% | 28.3% | 25.8% | 30.3% |
| Margen Neto | 31.9% | 24.4% | 33.0% | 33.8% | 24.5% | 37.5% | 32.7% | 21.5% | 20.3% | 23.6% |