Estados financieros detallados de Graham Corporation (GHM): 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
Graham Corporation registró ingresos de $245.3M en el último ejercicio fiscal, con un CAGR de 5 años del 20.3%. El beneficio neto alcanzó $12.5M, con un CAGR a 5 años del 39.4%.
Márgenes de los últimos 12 meses: margen bruto 23.5%, margen operativo 5.9%, margen neto 5.1%.
Al precio actual de $85.28, GHM cotiza a un P/E de 68.68 y un ROE del 8.91%. La capitalización bursátil es de $997M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $91.8M | $91.8M | $90.6M | $90.6M | $97.5M | $122.8M | $157.1M | $185.5M | $209.9M | $245.3M |
| Coste de Ventas | $69.6M | $60.2M | $69.9M | $72.5M | $77.0M | $113.7M | $131.7M | $144.9M | $157.0M | $187.5M |
| Beneficio Bruto | $17.0M | $21.9M | $18.1M | $18.1M | $20.5M | $9.1M | $25.4M | $40.6M | $52.9M | $57.8M |
| I+D | $3.2M | $3.5M | $3.4M | 0 | 0 | 0 | $4.1M | 0 | 0 | 0 |
| Generales y Administrativos | $15.5M | $17.6M | $16.9M | $16.9M | $17.5M | $20.4M | $23.1M | $32.2M | $37.1M | $41.6M |
| Gastos Operativos | $14.9M | $21.2M | $17.5M | $17.5M | $17.5M | $20.5M | $24.2M | $33.7M | $37.7M | $43.4M |
| Beneficio Operativo | $1.2M | $4.0M | $652000 | $652000 | $3.0M | -$11.3M | $1.2M | $6.9M | $15.2M | $14.4M |
| EBITDA | $9.4M | -$10.6M | $2.1M | $4.3M | $5.2M | -$5.2M | $7.6M | $11.3M | $20.8M | $22.6M |
| Gastos por Intereses | $10000 | $12000 | $12000 | $12000 | $11000 | $450000 | $1.1M | $248000 | -$583000 | 0 |
| Beneficio Antes de Impuestos | -$12.9M | -$145000 | $2.3M | $2.3M | $3.3M | -$11.2M | $561000 | $5.6M | $15.4M | $14.1M |
| Impuestos | $3.0M | $163000 | $440000 | $440000 | $893000 | -$2.4M | $194000 | $1.0M | $3.2M | $1.6M |
| Beneficio Neto | $5.0M | -$9.8M | -$308000 | $1.9M | $2.4M | -$8.8M | $367000 | $4.6M | $12.2M | $12.5M |
| BPA | $0.52 | $-1.01 | $-0.03 | $0.19 | $0.24 | $-0.83 | $0.03 | $0.42 | $1.12 | $1.14 |
| BPA Diluido | $0.52 | $-1.01 | $-0.03 | $0.19 | $0.24 | $-0.83 | $0.03 | $0.42 | $1.11 | $1.12 |
| Acciones en Circulación (Diluidas) | $9.7M | $9.8M | $9.8M | $9.9M | $10.0M | $10.5M | $10.7M | $10.8M | $11.1M | $11.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $66.0M | $56.7M | $67.1M | $71.3M |
| Beneficio Bruto | $14.3M | $13.0M | $15.7M | $17.8M |
| Beneficio Operativo | $4.3M | $3.4M | $1.7M | $4.2M |
| EBITDA | $5.9M | $5.2M | $5.0M | $6.9M |
| Beneficio Neto | $3.1M | $2.8M | $2.0M | $3.9M |
| BPA | $0.28 | $0.26 | $0.18 | $0.34 |
| BPA Diluido | $0.28 | $0.25 | $0.17 | $0.33 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $39.5M | $40.5M | $15.0M | $33.0M | $59.5M | $14.7M | $18.3M | $16.9M | $21.6M | $6.6M |
| Inversiones a Corto | $36.0M | $62.7M | $40.0M | $40.0M | $5.5M | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $26.6M | $26.6M | $26.2M | $30.5M | $37.4M | $53.7M | $63.7M | $72.4M | $75.5M | $93.7M |
| Inventario | $11.6M | $11.6M | $24.7M | $22.3M | $17.3M | $17.4M | $26.3M | $33.4M | $40.0M | $50.8M |
| Activos Corrientes | $115.4M | $115.4M | $134.8M | $126.7M | $120.2M | $87.2M | $110.1M | $126.3M | $141.4M | $156.5M |
| Inmovilizado Material | $17.0M | $17.1M | $17.1M | $17.8M | $17.7M | $33.3M | $33.8M | $39.4M | $57.0M | $67.1M |
| Fondo de Comercio | $6.9M | $1.2M | 0 | 0 | 0 | $23.5M | $23.5M | $25.5M | $25.5M | $38.1M |
| Activos Intangibles | $14.4M | $5.1M | 0 | 0 | 0 | $30.0M | $27.5M | $32.5M | $30.3M | $52.1M |
| Activos Totales | $151.6M | $143.3M | $156.3M | $148.1M | $144.3M | $183.7M | $203.9M | $233.9M | $264.1M | $323.6M |
| Cuentas por Pagar | $10.3M | $16.2M | $12.4M | $14.3M | $18.0M | $16.7M | $20.2M | $20.8M | $27.3M | $25.7M |
| Deuda a Corto | $107000 | $88000 | $51000 | 0 | $21000 | $2.0M | $2.0M | 0 | 0 | 0 |
| Pasivos Corrientes | $32.0M | $37.3M | $54.9M | $49.2M | $43.6M | $59.4M | $86.2M | $118.2M | $136.2M | $154.5M |
| Deuda a Largo | $143000 | 0 | 0 | 0 | 0 | $16.4M | $9.7M | 0 | 0 | $13.0M |
| Pasivos Totales | $37.5M | $40.0M | $57.3M | $51.4M | $46.4M | $87.2M | $107.0M | $128.3M | $144.5M | $183.3M |
| Reservas | $110.5M | $99.0M | $93.8M | $91.4M | $89.4M | $77.1M | $77.4M | $82.0M | $94.2M | $106.7M |
| Patrimonio Neto | $114.1M | $103.3M | $99.0M | $96.7M | $97.9M | $96.5M | $96.9M | $105.6M | $119.6M | $140.3M |
| Deuda Total | $143000 | $146000 | $330000 | $330000 | $138000 | $26.9M | $20.4M | $7.8M | $6.9M | $18.4M |
| Deuda Neta | -$76.3M | -$76.3M | -$77.4M | -$72.7M | -$64.9M | $12.2M | $2.1M | -$9.2M | -$14.7M | $11.8M |
| Capital Circulante | $83.4M | $78.1M | $79.9M | $77.4M | $76.7M | $27.8M | $23.9M | $8.1M | $5.2M | $2.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $20.6M | $22.3M | $6.6M | $27.0M |
| Activos Totales | $287.0M | $292.9M | $323.6M | $364.0M |
| Pasivos Totales | $159.4M | $161.6M | $183.3M | $171.8M |
| Patrimonio Neto | $127.6M | $131.3M | $140.3M | $192.2M |
| Deuda Total | $11.2M | $10.6M | $18.4M | $6.8M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | $5.0M | -$9.8M | -$308000 | $1.9M | $2.4M | -$8.8M | $367000 | $4.6M | $12.2M | $12.5M |
| Amortizaciones | $2.3M | $2.2M | $2.2M | $2.0M | $1.9M | $5.6M | $6.0M | $5.4M | $5.9M | $7.8M |
| Compensación en Acciones | $627000 | $577000 | $1.1M | $975000 | $864000 | $809000 | $806000 | $1.3M | $2.0M | $2.1M |
| Cambio en Capital Circulante | $3.9M | $2.8M | -$2.2M | -$4.5M | -$7.6M | $4.3M | $2.9M | $15.5M | $2.3M | -$1.0M |
| Flujo de Caja Operativo | $12.4M | $8.5M | $7.9M | $1.2M | -$1.7M | -$2.2M | $13.9M | $28.1M | $24.3M | $15.9M |
| Inversiones (CapEx) | -$325000 | -$2.1M | -$2.1M | -$2.4M | -$2.2M | -$2.3M | -$3.7M | -$9.2M | -$19.0M | -$16.1M |
| Adquisiciones | $1000 | $6000 | $26.7M | $614000 | 0 | -$60.3M | 0 | -$6.8M | -$170000 | -$27.3M |
| Recompra de Acciones | -$29000 | -$119000 | -$146000 | -$230000 | -$23000 | -$41000 | -$21000 | -$58000 | -$854000 | -$1.5M |
| Dividendos Pagados | -$3.5M | -$3.5M | -$3.8M | -$4.2M | -$4.4M | -$3.5M | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $12.1M | $6.5M | $5.8M | -$1.2M | -$3.9M | -$4.5M | $10.2M | $18.9M | $5.4M | -$121000 |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $13.6M | $4.8M | -$151000 | -$12.7M |
| Inversiones (CapEx) | -$4.1M | -$2.3M | -$2.6M | -$2.6M |
| Flujo de Caja Libre | $9.4M | $2.4M | -$2.7M | -$15.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $553000 | $642000 | $404000 | $645000 |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +0.1% | -1.3% | +0.0% | +7.6% | +26.0% | +27.9% | +18.1% | +13.1% | +16.9% |
| Crecimiento Beneficio Neto (anual) | | -296.0% | +96.9% | +707.8% | +26.8% | -469.5% | +104.2% | +1141.4% | +168.4% | +2.2% |
| Crecimiento BPA (anual) | | -294.2% | +96.9% | +705.1% | +26.3% | -445.8% | +104.2% | +1113.9% | +166.7% | +1.8% |
| Cambio en Acciones (anual) | | +0.4% | +0.6% | +0.6% | +0.8% | +5.8% | +1.1% | +1.8% | +2.0% | +0.7% |
| Crecimiento FCF (anual) | | -46.5% | -10.5% | -120.4% | -229.4% | -17.1% | +323.8% | +85.9% | -71.6% | -102.3% |
| Margen Bruto | 18.5% | 23.9% | 20.0% | 20.0% | 21.0% | 7.4% | 16.2% | 21.9% | 25.2% | 23.5% |
| Margen Operativo | 1.3% | 4.4% | 0.7% | 0.7% | 3.1% | -9.2% | 0.8% | 3.7% | 7.2% | 5.9% |
| Margen EBITDA | 10.2% | -11.6% | 2.3% | 4.7% | 5.4% | -4.2% | 4.8% | 6.1% | 9.9% | 9.2% |
| Margen Neto | 5.5% | -10.7% | -0.3% | 2.1% | 2.4% | -7.1% | 0.2% | 2.5% | 5.8% | 5.1% |
| Margen FCF | 13.1% | 7.0% | 6.4% | -1.3% | -4.0% | -3.7% | 6.5% | 10.2% | 2.6% | -0.0% |
| Tasa Impositiva Efectiva | -23.4% | -112.4% | 19.0% | 19.0% | 27.3% | 21.8% | 34.6% | 18.3% | 20.6% | 11.3% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $1.24 | $0.66 | $0.59 | $-0.12 | $-0.39 | $-0.43 | $0.95 | $1.74 | $0.48 | $-0.01 |
| Dividendo por Acción | $0.36 | $0.36 | $0.39 | $0.43 | $0.44 | $0.33 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $9.7M | $9.7M | $9.8M | $9.9M | $10.0M | $10.5M | $10.6M | $10.7M | $10.9M | $11.0M |
Qué mirar en Industrials
Aeroespacial, defensa, maquinaria, transporte. Semi-cíclicos. Clave: backlog, márgenes operativos, y conversión de FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — El mejor indicador de disciplina operativa en industriales
- ROIC — Industriales de calidad tienen ROIC >15% — el resto destruyen capital
- FCF conversion — FCF / Net Income — en industriales bueno >85%
- Deuda neta / EBITDA — Industriales cíclicos con deuda alta sufren mucho en recesión
- Capex / Ingresos — Mantener la maquinaria. <4% = posible infraversión (deterioro futuro)
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
Rentabilidad
| Rentabilidad sobre capital | 8.91% |
| Rentabilidad sobre capital invertido | 7.55% |
| Rentabilidad sobre activos | 3.86% |
| Margen bruto | 23.54% |
| Margen operativo | 5.87% |
| Margen neto | 5.10% |
Salud financiera
| Deuda / Patrimonio | 0.13 |
| Ratio corriente | 1.01 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 4.21 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | 44.23 | -21.21 | -642.04 | 67.89 | 59.33 | -9.29 | 378.03 | 72.79 | 25.73 | 69.23 |
| P/VC | 1.96 | 2.02 | 2.00 | 1.32 | 1.45 | 0.84 | 1.43 | 3.11 | 2.62 | 6.18 |
| P/V | 2.44 | 2.27 | 2.19 | 1.41 | 1.45 | 0.66 | 0.88 | 1.77 | 1.49 | 3.54 |
| Margen Bruto | 18.5% | 23.9% | 20.0% | 20.0% | 21.0% | 7.4% | 16.2% | 21.9% | 25.2% | 23.5% |
| Margen Operativo | 1.3% | 4.4% | 0.7% | 0.7% | 3.1% | -9.2% | 0.8% | 3.7% | 7.2% | 5.9% |
| Margen Neto | 5.5% | -10.7% | -0.3% | 2.1% | 2.4% | -7.1% | 0.2% | 2.5% | 5.8% | 5.1% |