Estados financieros detallados de Glacier Bancorp, Inc. (GBCI): 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
Glacier Bancorp, Inc. registró ingresos de $1.43B en el último ejercicio fiscal, con un CAGR de 5 años del 12.5%. El beneficio neto alcanzó $239.0M, con un CAGR a 5 años del -2.1%.
Márgenes de los últimos 12 meses: margen bruto 73.8%, margen operativo 24.7%, margen neto 20.3%. El flujo de caja libre creció a un CAGR del 14.3% en 5 años.
Al precio actual de $44.94, GBCI cotiza a un P/E de 18.32 y un ROE del 7.61%. La capitalización bursátil es de $5.8B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $438.5M | $475.3M | $579.3M | $653.3M | $790.1M | $812.7M | $933.4M | $1.12B | $1.25B | $1.43B |
| Coste de Ventas | $32.0M | $40.7M | $45.5M | $42.8M | $67.1M | $41.6M | $61.2M | $340.8M | $463.5M | $442.5M |
| Beneficio Bruto | $406.6M | $434.6M | $533.8M | $610.5M | $723.0M | $771.1M | $872.1M | $774.6M | $781.7M | $983.0M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $163.7M | $173.1M | $209.0M | $238.5M | $270.8M | $294.4M | $352.3M | $359.4M | $383.6M | $453.7M |
| Gastos Operativos | $245.8M | $253.6M | $311.6M | $351.3M | $395.0M | $421.7M | $501.9M | $507.0M | $555.4M | $657.1M |
| Beneficio Operativo | $160.8M | $181.0M | $222.2M | $259.2M | $328.0M | $349.4M | $370.3M | $267.6M | $226.3M | $325.9M |
| EBITDA | $179.1M | $198.3M | $244.5M | $286.3M | $358.8M | $381.5M | $406.8M | $304.8M | $268.0M | $365.0M |
| Gastos por Intereses | $29.6M | $29.9M | $35.5M | $42.8M | $27.3M | $18.6M | $41.3M | $326.0M | $435.2M | $406.8M |
| Beneficio Antes de Impuestos | $160.8M | $181.0M | $222.2M | $259.2M | $328.0M | $349.4M | $370.3M | $267.6M | $226.3M | $290.2M |
| Impuestos | $39.7M | $64.6M | $40.3M | $48.6M | $61.6M | $64.7M | $67.1M | $44.7M | $36.2M | $51.2M |
| Beneficio Neto | $121.1M | $116.4M | $181.9M | $210.5M | $266.4M | $284.8M | $303.2M | $222.9M | $190.1M | $239.0M |
| BPA | $1.59 | $1.75 | $2.18 | $2.39 | $2.81 | $2.87 | $2.74 | $2.01 | $1.68 | $2.00 |
| BPA Diluido | $1.59 | $1.75 | $2.17 | $2.38 | $2.81 | $2.86 | $2.74 | $2.01 | $1.68 | $1.99 |
| Acciones en Circulación (Diluidas) | $76.3M | $77.6M | $83.7M | $88.4M | $94.9M | $99.4M | $110.8M | $110.9M | $113.2M | $130.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $360.4M | $413.2M | $400.2M | $365.2M |
| Beneficio Bruto | $253.1M | $306.5M | $300.5M | $276.4M |
| Beneficio Operativo | $85.3M | $112.0M | $100.2M | $83.4M |
| EBITDA | $97.0M | $117.1M | $114.0M | $129.3M |
| Beneficio Neto | $67.9M | $63.8M | $82.1M | $97.9M |
| BPA | $0.60 | $0.49 | $0.63 | $0.75 |
| BPA Diluido | $0.60 | $0.49 | $0.63 | $0.75 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $152.5M | $200.0M | $203.8M | $331.0M | $633.1M | $437.7M | $402.0M | $1.35B | $848.4M | $321.5M |
| Inversiones a Corto | $2.43B | $1.78B | $2.57B | $2.58B | $5.34B | $9.17B | $5.31B | $4.79B | $3.71B | $4.01B |
| Cuentas por Cobrar | $45.8M | $44.5M | $54.4M | $56.0M | $75.5M | $76.7M | $83.5M | $94.5M | $99.3M | $20.79B |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $2.62B | $2.02B | $2.83B | $2.96B | $6.05B | $9.69B | $5.79B | $6.23B | $4.65B | $25.12B |
| Inmovilizado Material | $176.2M | $177.3M | $241.5M | $310.3M | $325.3M | $372.6M | $398.1M | $421.8M | $468.2M | $561.8M |
| Fondo de Comercio | $147.1M | $177.8M | $289.6M | $456.4M | $514.0M | $985.4M | $985.4M | $985.4M | $1.05B | $1.38B |
| Activos Intangibles | $12.3M | $14.2M | $49.2M | $63.3M | $55.5M | $52.3M | $41.6M | $31.9M | $51.2M | $105.3M |
| Activos Totales | $9.45B | $9.71B | $12.12B | $13.68B | $18.50B | $25.94B | $26.64B | $27.74B | $27.90B | $31.98B |
| Cuentas por Pagar | $3.6M | $3.5M | $4.3M | $4.7M | $3.3M | $2.4M | $4.3M | $125.9M | $33.6M | 0 |
| Deuda a Corto | $473.6M | $362.6M | $396.2M | $569.8M | $1.00B | $1.02B | $945.9M | $1.49B | $1.78B | $2.52B |
| Pasivos Corrientes | $7.85B | $7.95B | $9.89B | $11.35B | $15.81B | $22.36B | $21.56B | $21.54B | $22.36B | $81.7M |
| Deuda a Largo | $382.2M | $488.4M | $588.9M | $207.3M | $173.0M | $176.7M | $2.01B | $2.95B | $2.02B | $291.8M |
| Pasivos Totales | $8.33B | $8.51B | $10.60B | $11.72B | $16.20B | $22.76B | $23.79B | $24.72B | $24.68B | $27.76B |
| Reservas | $374.4M | $402.3M | $473.2M | $541.0M | $667.9M | $810.3M | $967.0M | $1.04B | $1.08B | $1.16B |
| Patrimonio Neto | $1.12B | $1.20B | $1.52B | $1.96B | $2.31B | $3.18B | $2.84B | $3.02B | $3.22B | $4.21B |
| Deuda Total | $855.8M | $850.9M | $985.1M | $777.2M | $1.18B | $1.20B | $2.96B | $4.44B | $3.79B | $2.90B |
| Deuda Neta | -$1.72B | -$1.13B | -$1.79B | -$2.13B | -$4.79B | -$8.41B | -$2.75B | -$1.70B | -$760.8M | -$1.43B |
| Capital Circulante | -$5.23B | -$5.92B | -$7.06B | -$8.39B | -$9.76B | -$12.68B | -$15.76B | -$15.31B | -$17.70B | $25.04B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $854.2M | $321.5M | $1.39B | $353.7M |
| Activos Totales | $29.02B | $31.98B | $31.73B | $31.60B |
| Pasivos Totales | $25.41B | $27.76B | $27.49B | $27.29B |
| Patrimonio Neto | $3.61B | $4.21B | $4.25B | $4.31B |
| Deuda Total | $3.18B | $2.90B | $2.41B | $2.19B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $121.1M | $116.4M | $181.9M | $210.5M | $266.4M | $284.8M | $303.2M | $222.9M | $190.1M | $239.0M |
| Amortizaciones | $18.3M | $17.3M | $22.3M | $27.1M | $30.8M | $32.0M | $36.5M | $37.1M | $41.7M | $48.9M |
| Compensación en Acciones | $1.8M | $3.0M | $3.1M | $7.5M | $3.6M | $4.3M | $5.4M | $5.9M | $5.7M | $6.3M |
| Cambio en Capital Circulante | -$1.2M | -$1.1M | $9.6M | $7.5M | -$34.3M | $12.7M | -$19.9M | $92.3M | -$87.0M | -$6.5M |
| Flujo de Caja Operativo | $193.1M | $254.7M | $280.7M | $226.6M | $189.5M | $572.0M | $470.7M | $500.7M | $258.0M | $374.4M |
| Inversiones (CapEx) | -$8.3M | -$10.1M | -$18.6M | -$16.4M | -$11.7M | -$9.4M | -$33.8M | -$49.5M | -$48.3M | -$26.8M |
| Adquisiciones | $6.7M | -$4.1M | $101.3M | $63.0M | $43.7M | $1.62B | 0 | 0 | $107.7M | $210.3M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$1.8M | -$1.6M | 0 |
| Dividendos Pagados | -$84.0M | -$111.7M | -$85.5M | -$124.5M | -$131.3M | -$145.6M | -$157.5M | -$146.7M | -$150.0M | -$162.7M |
| Flujo de Caja Libre | $184.8M | $244.6M | $262.1M | $210.3M | $177.8M | $562.6M | $436.9M | $451.4M | $209.8M | $347.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $112.4M | $123.5M | $87.9M | $120.8M |
| Inversiones (CapEx) | -$7.7M | -$17.8M | -$13.5M | -$9.1M |
| Flujo de Caja Libre | $104.8M | $105.7M | $74.3M | $111.7M |
| Dividendos Pagados | -$39.1M | -$85.8M | -$337000 | -$42.9M |
| Compensación en Acciones | $1.2M | $1.3M | $4.5M | $2.5M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +8.4% | +21.9% | +12.8% | +20.9% | +2.9% | +14.8% | +19.5% | +11.6% | +14.5% |
| Crecimiento Beneficio Neto (anual) | | -3.9% | +56.3% | +15.8% | +26.5% | +6.9% | +6.5% | -26.5% | -14.7% | +25.7% |
| Crecimiento BPA (anual) | | +10.1% | +24.6% | +9.6% | +17.6% | +2.1% | -4.5% | -26.6% | -16.4% | +19.0% |
| Cambio en Acciones (anual) | | +1.7% | +7.8% | +5.6% | +7.4% | +4.7% | +11.5% | +0.1% | +2.1% | +14.9% |
| Crecimiento FCF (anual) | | +32.4% | +7.1% | -19.8% | -15.4% | +216.4% | -22.3% | +3.3% | -53.5% | +65.7% |
| Margen Bruto | 92.7% | 91.4% | 92.1% | 93.4% | 91.5% | 94.9% | 93.4% | 69.4% | 62.8% | 69.0% |
| Margen Operativo | 36.7% | 38.1% | 38.4% | 39.7% | 41.5% | 43.0% | 39.7% | 24.0% | 18.2% | 22.9% |
| Margen EBITDA | 40.8% | 41.7% | 42.2% | 43.8% | 45.4% | 46.9% | 43.6% | 27.3% | 21.5% | 25.6% |
| Margen Neto | 27.6% | 24.5% | 31.4% | 32.2% | 33.7% | 35.0% | 32.5% | 20.0% | 15.3% | 16.8% |
| Margen FCF | 42.1% | 51.5% | 45.2% | 32.2% | 22.5% | 69.2% | 46.8% | 40.5% | 16.8% | 24.4% |
| Tasa Impositiva Efectiva | 24.7% | 35.7% | 18.2% | 18.8% | 18.8% | 18.5% | 18.1% | 16.7% | 16.0% | 17.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $2.42 | $3.15 | $3.13 | $2.38 | $1.87 | $5.66 | $3.94 | $4.07 | $1.85 | $2.67 |
| Dividendo por Acción | $1.10 | $1.44 | $1.02 | $1.41 | $1.38 | $1.46 | $1.42 | $1.32 | $1.32 | $1.25 |
| Acciones en Circulación (Básicas) | $76.3M | $77.5M | $83.6M | $88.3M | $94.9M | $99.3M | $110.8M | $110.9M | $113.2M | $130.0M |
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
| Rentabilidad sobre capital | 7.61% |
| Rentabilidad sobre capital invertido | 0.97% |
| Rentabilidad sobre activos | 0.99% |
| Margen bruto | 73.85% |
| Margen operativo | 24.74% |
| Margen neto | 20.25% |
Salud financiera
| Deuda / Patrimonio | 0.51 |
| Ratio corriente | 0.24 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 1.19 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 22.79 | 22.51 | 18.17 | 19.24 | 16.37 | 19.76 | 18.04 | 20.56 | 29.89 | 22.02 |
| P/VC | 2.47 | 2.55 | 2.19 | 2.07 | 1.89 | 1.77 | 1.93 | 1.52 | 1.76 | 1.36 |
| P/V | 6.30 | 6.43 | 5.72 | 6.21 | 5.53 | 6.93 | 5.86 | 4.11 | 4.56 | 4.02 |
| Margen Bruto | 92.7% | 91.4% | 92.1% | 93.4% | 91.5% | 94.9% | 93.4% | 69.4% | 62.8% | 69.0% |
| Margen Operativo | 36.7% | 38.1% | 38.4% | 39.7% | 41.5% | 43.0% | 39.7% | 24.0% | 18.2% | 22.9% |
| Margen Neto | 27.6% | 24.5% | 31.4% | 32.2% | 33.7% | 35.0% | 32.5% | 20.0% | 15.3% | 16.8% |