Estados financieros detallados de GCT Semiconductor Holding, Inc. (GCTS): 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 -38.3%, margen operativo -8.5%, margen neto -13.0%.
Al precio actual de $1.91, GCTS presenta beneficios negativos (P/E no significativo) y un ROE del 73.41%. La capitalización bursátil es de $174M.
Cuenta de Resultados (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $25.5M | $16.7M | $16.0M | $9.1M | $2.9M |
| Coste de Ventas | $17.4M | $11.6M | $9.3M | $4.1M | $4.7M |
| Beneficio Bruto | $8.2M | $5.1M | $6.7M | $5.1M | -$1.8M |
| I+D | $19.1M | $17.4M | $10.7M | $17.3M | $14.0M |
| Generales y Administrativos | $6.8M | $10.4M | $10.6M | $14.7M | $20.7M |
| Gastos Operativos | $26.0M | $27.8M | $21.3M | $18.2M | $34.7M |
| Beneficio Operativo | -$17.8M | -$22.8M | -$14.6M | -$13.1M | -$36.5M |
| EBITDA | -$20.6M | -$21.4M | -$13.9M | -$6.7M | -$35.1M |
| Gastos por Intereses | $4.5M | $3.4M | $6.2M | $3.9M | $6.0M |
| Beneficio Antes de Impuestos | -$26.5M | -$26.3M | -$21.9M | -$11.9M | -$42.5M |
| Impuestos | $359000 | $121000 | $541000 | $445000 | $902000 |
| Beneficio Neto | -$26.8M | -$26.4M | -$22.5M | -$12.4M | -$43.4M |
| BPA | $-0.82 | $-0.65 | $-0.51 | $-0.27 | $-0.82 |
| BPA Diluido | $-0.82 | $-0.65 | $-0.51 | $-0.27 | $-0.82 |
| Acciones en Circulación (Diluidas) | $43.9M | $43.9M | $43.9M | $45.6M | $52.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $430000 | $758000 | $1.9M | $971000 |
| Beneficio Bruto | -$1.1M | -$1.2M | $947000 | -$226000 |
| Beneficio Operativo | -$9.3M | -$12.0M | -$6.1M | -$7.4M |
| EBITDA | -$11.5M | -$6.4M | -$7.5M | -$7.0M |
| Beneficio Neto | -$13.8M | -$9.0M | -$9.9M | -$20.4M |
| BPA | $-0.25 | $-0.16 | $-0.15 | $-0.25 |
| BPA Diluido | $-0.25 | $-0.16 | $-0.15 | $-0.25 |
Balance (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.3M | $1.4M | $258000 | $1.4M | $590000 |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $6.5M | $5.3M | $8.4M | $10.9M | $8.0M |
| Inventario | $1.7M | $3.5M | $1.8M | $3.0M | $947000 |
| Activos Corrientes | $13.3M | $12.9M | $13.0M | $17.6M | $11.9M |
| Inmovilizado Material | $1.8M | $1.9M | $2.3M | $1.7M | $3.4M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $668000 | $672000 | $245000 | $65000 | 0 |
| Activos Totales | $16.8M | $16.5M | $16.4M | $19.9M | $15.6M |
| Cuentas por Pagar | $12.9M | $19.0M | $17.8M | $1.0M | $628000 |
| Deuda a Corto | $76.0M | $49.5M | $72.3M | $37.6M | $57.3M |
| Pasivos Corrientes | $103.8M | $81.9M | $114.8M | $60.9M | $79.6M |
| Deuda a Largo | $8.8M | $20.0M | $6.2M | $4.9M | $6.0M |
| Pasivos Totales | $505.1M | $111.4M | $131.9M | $79.2M | $98.9M |
| Reservas | -$498.5M | -$527.2M | -$549.7M | -$562.0M | -$605.4M |
| Patrimonio Neto | -$488.3M | -$94.9M | -$115.4M | -$59.3M | -$83.3M |
| Deuda Total | $85.5M | $70.3M | $80.1M | $43.4M | $63.4M |
| Deuda Neta | $84.3M | $68.9M | $79.8M | $42.0M | $62.8M |
| Capital Circulante | -$90.5M | -$69.0M | -$101.8M | -$43.3M | -$67.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $8.3M | $590000 | $7.2M | $30.2M |
| Activos Totales | $24.3M | $15.6M | $22.4M | $49.8M |
| Pasivos Totales | $104.4M | $98.9M | $96.3M | $101.8M |
| Patrimonio Neto | -$80.1M | -$83.3M | -$73.9M | -$52.0M |
| Deuda Total | $65.1M | $63.4M | $58.2M | $347000 |
Flujo de Caja (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$26.8M | -$26.4M | -$22.5M | -$12.4M | -$43.4M |
| Amortizaciones | $1.3M | $1.5M | $1.8M | $1.3M | $1.5M |
| Compensación en Acciones | $20000 | $17000 | $43000 | $2.7M | $6.3M |
| Cambio en Capital Circulante | $2.9M | $5.7M | $9.3M | -$8.8M | $3.0M |
| Flujo de Caja Operativo | -$17.7M | -$18.1M | -$8.8M | -$31.0M | -$30.7M |
| Inversiones (CapEx) | -$637000 | -$903000 | -$331000 | -$542000 | -$2.4M |
| 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 | -$18.4M | -$19.0M | -$9.2M | -$31.5M | -$33.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$6.9M | -$7.2M | -$7.4M | -$16.6M |
| Inversiones (CapEx) | -$934000 | -$1.3M | -$65000 | -$321000 |
| Flujo de Caja Libre | -$7.8M | -$8.5M | -$7.5M | -$16.9M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.9M | $3.4M | $445000 | $344000 |
Crecimiento y Márgenes (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -34.7% | -3.8% | -43.0% | -68.6% |
| Crecimiento Beneficio Neto (anual) | | +1.5% | +14.9% | +44.9% | -250.4% |
| Crecimiento BPA (anual) | | +20.7% | +21.5% | +47.1% | -203.7% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +3.9% | +15.8% |
| Crecimiento FCF (anual) | | -3.3% | +51.8% | -244.0% | -5.0% |
| Margen Bruto | 32.0% | 30.3% | 42.0% | 55.6% | -63.4% |
| Margen Operativo | -69.8% | -136.5% | -90.8% | -143.8% | -1274.9% |
| Margen EBITDA | -80.8% | -128.3% | -86.7% | -73.9% | -1224.3% |
| Margen Neto | -105.0% | -158.4% | -140.2% | -135.6% | -1513.3% |
| Margen FCF | -72.0% | -113.9% | -57.1% | -345.1% | -1154.4% |
| Tasa Impositiva Efectiva | -1.4% | -0.5% | -2.5% | -3.7% | -2.1% |
Datos por Acción (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.42 | $-0.43 | $-0.21 | $-0.69 | $-0.63 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $43.9M | $43.9M | $43.9M | $45.6M | $52.9M |
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 | 73.41% |
| Rentabilidad sobre capital invertido | 527.07% |
| Rentabilidad sobre activos | -106.57% |
| Margen bruto | -38.29% |
| Margen operativo | -852.05% |
| Margen neto | -1301.99% |
Salud financiera
| Deuda / Patrimonio | -0.01 |
| Ratio corriente | 0.82 |
Ratios Clave (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -12.07 | -15.68 | -20.71 | -8.63 | -1.46 |
| P/VC | -0.89 | -4.71 | -4.02 | -1.79 | -0.76 |
| P/V | 17.03 | 26.84 | 28.93 | 11.65 | 22.14 |
| Margen Bruto | 32.0% | 30.3% | 42.0% | 55.6% | -63.4% |
| Margen Operativo | -69.8% | -136.5% | -90.8% | -143.8% | -1274.9% |
| Margen Neto | -105.0% | -158.4% | -140.2% | -135.6% | -1513.3% |