Estados financieros detallados de Goldgroup Mining Inc. (GORO): 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
Goldgroup Mining Inc. registró ingresos de $93.3M en el último ejercicio fiscal, con un CAGR de 5 años del 0.6%.
Márgenes de los últimos 12 meses: margen bruto 32.0%, margen operativo 26.6%, margen neto 5.1%. El flujo de caja libre creció a un CAGR del -50.9% en 5 años.
Al precio actual de $3.48, GORO cotiza a un P/E de 74.52 y un ROE del 19.13%. La capitalización bursátil es de $262M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $82.8M | $108.8M | $119.5M | $118.6M | $90.7M | $124.2M | $139.1M | $97.8M | $64.8M | $93.3M |
| Coste de Ventas | $65.1M | $72.4M | $86.3M | $96.7M | $60.6M | $93.5M | $122.0M | $108.8M | $88.6M | $75.6M |
| Beneficio Bruto | $17.6M | $36.4M | $33.2M | $21.9M | $30.0M | $30.7M | $17.1M | -$11.0M | -$23.8M | $17.6M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $9.5M | $8.1M | $10.7M | $7.6M | $13.1M | $8.6M | $10.0M | $7.3M | $5.0M | $4.3M |
| Gastos Operativos | $9.5M | $8.1M | $10.8M | $8.5M | $13.1M | $8.6M | $10.0M | $7.3M | $5.0M | $5.4M |
| Beneficio Operativo | $8.1M | $28.3M | $22.4M | $13.4M | $16.9M | $22.1M | $7.1M | -$18.3M | -$28.8M | $12.2M |
| EBITDA | $21.9M | $43.5M | $32.0M | $35.5M | $18.2M | $34.0M | $30.3M | -$3.2M | -$26.6M | $26.3M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | $906000 | $10.0M | $13.2M | $16.7M |
| Beneficio Antes de Impuestos | $9.1M | $28.5M | $16.6M | $15.5M | -$758000 | $17.6M | $2.2M | -$30.0M | -$47.2M | -$3.0M |
| Impuestos | $4.8M | $24.3M | $7.3M | $10.0M | $5.6M | $9.6M | $8.6M | -$5.9M | $9.3M | $3.4M |
| Beneficio Neto | $4.4M | $4.2M | $9.3M | $5.5M | -$6.3M | $8.0M | -$6.3M | -$24.1M | -$56.5M | -$6.5M |
| BPA | $0.08 | $0.07 | $0.16 | $0.09 | $-0.09 | $0.11 | $-0.07 | $-0.27 | $-0.61 | $-0.05 |
| BPA Diluido | $0.08 | $0.07 | $0.16 | $0.09 | $-0.09 | $0.11 | $-0.07 | $-0.27 | $-0.61 | $-0.05 |
| Acciones en Circulación (Diluidas) | $55.7M | $57.6M | $58.4M | $64.0M | $70.7M | $75.6M | $88.4M | $88.5M | $91.9M | $137.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $24.6M | $51.3M | $41.1M | $21.1M |
| Beneficio Bruto | $5.0M | $26.4M | $14.8M | $6.2M |
| Beneficio Operativo | $3.3M | $24.8M | $12.2M | $2.6M |
| EBITDA | -$670000 | $28.2M | $18.4M | -$3.9M |
| Beneficio Neto | -$4.7M | $18.0M | $4.7M | -$6.1M |
| BPA | $-0.03 | $0.14 | $0.03 | $-0.08 |
| BPA Diluido | $-0.03 | $0.14 | $0.03 | $-0.08 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $14.2M | $22.4M | $7.8M | $10.2M | $25.4M | $33.7M | $23.7M | $6.3M | $1.6M | $25.0M |
| Inversiones a Corto | $3.3M | $3.8M | $3.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $660000 | $2.9M | $2.3M | $8.4M | $4.2M | $8.7M | $5.1M | $4.3M | $2.2M | $13.3M |
| Inventario | $8.9M | $11.6M | $14.3M | $13.5M | $10.0M | $10.4M | $13.5M | $9.3M | $6.9M | $8.2M |
| Activos Corrientes | $29.3M | $42.5M | $31.1M | $51.0M | $42.9M | $58.9M | $46.1M | $26.5M | $16.6M | $49.3M |
| Inmovilizado Material | $70.1M | $82.6M | $111.2M | $64.3M | $61.4M | $155.7M | $145.1M | $132.5M | $121.6M | $134.7M |
| 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 | $118.5M | $132.9M | $150.3M | $193.0M | $105.7M | $215.8M | $210.1M | $184.0M | $145.9M | $184.1M |
| Cuentas por Pagar | $5.4M | $6.9M | $12.4M | $9.1M | $8.8M | $13.3M | $13.3M | $7.6M | $11.3M | $7.4M |
| Deuda a Corto | 0 | $568000 | $765000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $9.0M | $15.0M | $17.6M | $28.0M | $12.1M | $29.7M | $24.7M | $11.3M | $14.5M | $17.3M |
| Deuda a Largo | 0 | $1.6M | $1.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $11.4M | $20.8M | $23.1M | $35.0M | $15.2M | $95.0M | $98.3M | $103.5M | $118.6M | $140.0M |
| Reservas | $2.0M | $4.5M | $12.7M | $16.9M | $12.7M | $17.6M | $7.7M | -$24.6M | -$81.1M | -$87.5M |
| Patrimonio Neto | $107.1M | $112.1M | $127.3M | $158.1M | $90.5M | $120.8M | $111.8M | $80.4M | $27.3M | $44.0M |
| Deuda Total | 0 | $3.8M | $3.4M | 0 | 0 | 0 | 0 | 0 | 0 | $49000 |
| Deuda Neta | -$17.5M | -$22.4M | -$8.0M | -$10.2M | -$25.4M | -$33.7M | -$23.7M | -$6.3M | -$1.6M | -$25.0M |
| Capital Circulante | $20.3M | $27.5M | $13.5M | $23.0M | $30.8M | $29.3M | $21.4M | $15.2M | $2.1M | $32.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $9.8M | $25.0M | $31.0M | $15.7M |
| Activos Totales | $164.3M | $184.1M | $196.4M | $69.3M |
| Pasivos Totales | $138.4M | $140.0M | $147.6M | $74.9M |
| Patrimonio Neto | $26.0M | $44.0M | $48.8M | -$5.6M |
| Deuda Total | 0 | $49000 | $95.6M | $131000 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $4.4M | $4.2M | $9.3M | $5.8M | -$6.3M | $8.0M | -$6.3M | -$24.1M | -$56.5M | -$6.5M |
| Amortizaciones | $12.6M | $15.0M | $15.2M | $19.9M | $17.6M | $16.1M | $27.4M | $26.1M | $19.9M | $12.2M |
| Compensación en Acciones | $1.2M | $1.2M | $1.5M | $1.9M | $3.0M | $875000 | $2.0M | $681000 | $677000 | $1.1M |
| Cambio en Capital Circulante | $941000 | -$983000 | -$4.4M | -$7.6M | $4.6M | $3.3M | -$5.3M | -$2.9M | $6.7M | -$6.5M |
| Flujo de Caja Operativo | $17.9M | $35.6M | $22.3M | $21.4M | $35.4M | $34.8M | $14.2M | -$5.2M | -$627000 | $21.7M |
| Inversiones (CapEx) | -$15.1M | -$25.4M | -$40.1M | -$16.9M | -$12.8M | -$20.6M | -$18.2M | -$12.5M | -$7.6M | -$21.1M |
| Adquisiciones | -$311000 | 0 | 0 | 0 | 0 | -$2.4M | $1.2M | 0 | 0 | 0 |
| Recompra de Acciones | -$13.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$1.7M | -$1.1M | -$1.1M | -$1.5M | -$2.8M | -$3.4M | -$3.5M | 0 | 0 | 0 |
| Flujo de Caja Libre | $2.8M | $10.2M | -$17.8M | $4.5M | $22.6M | $14.2M | -$4.1M | -$17.7M | -$8.2M | $644000 |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$325000 | $24.2M | $14.8M | $1.4M |
| Inversiones (CapEx) | -$7.5M | -$8.9M | -$8.8M | -$1.3M |
| Flujo de Caja Libre | -$7.8M | $15.3M | $6.1M | $99000 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $403000 | -$51000 | $1.0M | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +31.5% | +9.9% | -0.8% | -23.5% | +36.9% | +12.0% | -29.7% | -33.8% | +44.0% |
| Crecimiento Beneficio Neto (anual) | | -5.4% | +123.8% | -40.4% | -214.4% | +226.8% | -178.7% | -282.0% | -134.0% | +88.6% |
| Crecimiento BPA (anual) | | -12.5% | +128.6% | -43.8% | -200.0% | +222.2% | -163.6% | -285.7% | -125.9% | +92.3% |
| Cambio en Acciones (anual) | | +3.4% | +1.3% | +9.7% | +10.4% | +7.0% | +16.9% | +0.2% | +3.9% | +49.3% |
| Crecimiento FCF (anual) | | +269.7% | -274.7% | +125.1% | +405.2% | -37.2% | -128.8% | -334.4% | +53.4% | +107.8% |
| Margen Bruto | 21.3% | 33.5% | 27.8% | 18.5% | 33.1% | 24.7% | 12.3% | -11.3% | -36.8% | 18.9% |
| Margen Operativo | 9.8% | 26.0% | 18.7% | 11.3% | 18.7% | 17.8% | 5.1% | -18.7% | -44.4% | 13.1% |
| Margen EBITDA | 26.5% | 40.0% | 26.8% | 29.9% | 20.1% | 27.4% | 21.8% | -3.3% | -41.0% | 28.2% |
| Margen Neto | 5.3% | 3.8% | 7.8% | 4.7% | -7.0% | 6.5% | -4.5% | -24.7% | -87.3% | -6.9% |
| Margen FCF | 3.3% | 9.4% | -14.9% | 3.8% | 24.9% | 11.4% | -2.9% | -18.1% | -12.7% | 0.7% |
| Tasa Impositiva Efectiva | 52.0% | 85.4% | 43.9% | 64.3% | -735.2% | 54.5% | 382.4% | 19.6% | -19.6% | -111.8% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.05 | $0.18 | $-0.31 | $0.07 | $0.32 | $0.19 | $-0.05 | $-0.20 | $-0.09 | $0.00 |
| Dividendo por Acción | $0.03 | $0.02 | $0.02 | $0.02 | $0.04 | $0.04 | $0.04 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $55.1M | $56.9M | $57.5M | $63.7M | $69.9M | $75.3M | $88.4M | $88.5M | $91.9M | $137.3M |
Qué mirar en Basic Materials
Mineras, químicas, acero. 100% commodity-driven. Analizar con P/E puro es un error — mira posición de costes y sostenibilidad del dividendo.
- FCF yield — En commodities el FCF es oro — EPS engaña mucho
- Margen bruto — Margen bruto consistente 5y = señal de moat
- Deuda neta / EBITDA (valle) — Usar EBITDA del peor año del ciclo, no el actual
- Dividend coverage — Dividendo cubierto por FCF en año medio, no en pico
- Capex / D&A — >1x = mantienen/crecen reservas. <0.7x = están descapitalizando
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
- P/B en ciclos — Commodities: 0.8-1.2x en valles, 2x+ en picos. <2x aún zona razonable
Rentabilidad
| Rentabilidad sobre capital | 19.13% |
| Rentabilidad sobre capital invertido | 8.84% |
| Rentabilidad sobre activos | 3.36% |
| Margen bruto | 31.96% |
| Margen operativo | 26.57% |
| Margen neto | 5.15% |
Salud financiera
| Deuda / Patrimonio | 1.96 |
| Ratio corriente | 3.33 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 50.00 | 22.86 | 7.50 | 8.89 | -8.89 | 10.91 | -4.57 | -0.30 | -0.72 | -97.02 |
| P/VC | 2.06 | 0.81 | 0.54 | 0.32 | 0.62 | 0.75 | 0.25 | 0.09 | 1.48 | 14.22 |
| P/V | 2.67 | 0.84 | 0.58 | 0.43 | 0.62 | 0.73 | 0.20 | 0.07 | 0.62 | 6.71 |
| Margen Bruto | 21.3% | 33.5% | 27.8% | 18.5% | 33.1% | 24.7% | 12.3% | -11.3% | -36.8% | 18.9% |
| Margen Operativo | 9.8% | 26.0% | 18.7% | 11.3% | 18.7% | 17.8% | 5.1% | -18.7% | -44.4% | 13.1% |
| Margen Neto | 5.3% | 3.8% | 7.8% | 4.7% | -7.0% | 6.5% | -4.5% | -24.7% | -87.3% | -6.9% |