Estados financieros detallados de ZoomInfo Technologies Inc. (GTM): 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
ZoomInfo Technologies Inc. registró ingresos de $1.25B en el último ejercicio fiscal, con un CAGR de 5 años del 21.3%.
Márgenes de los últimos 12 meses: margen bruto 83.9%, margen operativo -34.4%, margen neto -43.0%. El flujo de caja libre creció a un CAGR del 20.5% en 5 años.
Al precio actual de $4.09, GTM presenta beneficios negativos (P/E no significativo) y un ROE del -40.51%. La capitalización bursátil es de $1.2B.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $144.3M | $293.3M | $476.2M | $747.2M | $1.10B | $1.24B | $1.21B | $1.25B |
| Coste de Ventas | $37.8M | $68.6M | $107.5M | $136.7M | $188.7M | $178.1M | $189.8M | $199.6M |
| Beneficio Bruto | $106.5M | $224.7M | $368.7M | $610.5M | $909.3M | $1.06B | $1.02B | $1.05B |
| I+D | $6.1M | $30.1M | $51.4M | $119.7M | $207.1M | $189.8M | $187.8M | $182.0M |
| Generales y Administrativos | $63.2M | $125.3M | $247.7M | $333.5M | $504.4M | $579.9M | $624.3M | $621.3M |
| Gastos Operativos | $76.3M | $173.0M | $331.6M | $497.2M | $733.5M | $801.9M | $927.1M | $824.2M |
| Beneficio Operativo | $26.6M | $51.7M | $37.1M | $113.3M | $175.8M | $259.5M | $97.4M | $225.7M |
| EBITDA | $44.0M | $66.6M | $88.4M | $214.2M | $330.0M | $514.6M | $156.3M | $325.7M |
| Gastos por Intereses | $58.2M | $102.4M | $69.3M | $43.9M | $47.6M | $45.2M | $39.3M | $42.6M |
| Beneficio Antes de Impuestos | -$31.5M | -$84.5M | -$31.7M | $101.0M | $194.6M | $388.8M | $31.3M | $194.3M |
| Impuestos | -$2.9M | -$6.5M | $4.7M | $6.1M | $131.4M | $281.5M | $2.2M | $70.1M |
| Beneficio Neto | -$28.6M | -$78.0M | -$9.1M | $116.8M | $63.2M | $107.3M | $29.1M | $124.2M |
| BPA | $-0.20 | $0.00 | $-0.10 | $0.46 | $0.16 | $0.27 | $0.08 | $0.39 |
| BPA Diluido | $-0.20 | $0.00 | $-0.11 | $0.30 | $0.16 | $0.27 | $0.08 | $0.39 |
| Acciones en Circulación (Diluidas) | $143.5M | $143.5M | $173.8M | $403.3M | $395.0M | $397.5M | $362.2M | $317.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $318.0M | $319.1M | $310.2M | $310.4M |
| Beneficio Bruto | $276.2M | $268.0M | $254.6M | $256.8M |
| Beneficio Operativo | $67.5M | $54.2M | $67.9M | -$622.0M |
| EBITDA | $81.2M | $74.6M | $79.2M | -$619.1M |
| Beneficio Neto | $38.7M | $34.7M | $29.3M | -$643.7M |
| BPA | $0.12 | $0.11 | $0.09 | $-2.19 |
| BPA Diluido | $0.12 | $0.11 | $0.09 | $-2.19 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $9.0M | $41.4M | $269.8M | $308.3M | $418.0M | $447.1M | $139.9M | $175.9M |
| Inversiones a Corto | 0 | 0 | $30.6M | $18.4M | $127.7M | $82.2M | 0 | $4.0M |
| Cuentas por Cobrar | $31.3M | $90.8M | $126.0M | $191.9M | $228.5M | $275.2M | $252.5M | $230.8M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $45.0M | $148.2M | $439.5M | $545.7M | $832.0M | $864.3M | $451.0M | $454.0M |
| Inmovilizado Material | $9.6M | $60.1M | $63.0M | $101.5M | $115.1M | $145.8M | $203.5M | $275.9M |
| Fondo de Comercio | $445.7M | $966.8M | $1.00B | $1.58B | $1.69B | $1.69B | $1.69B | $1.69B |
| Activos Intangibles | $88.7M | $370.6M | $365.7M | $431.0M | $395.6M | $334.6M | $275.8M | $217.3M |
| Activos Totales | $591.0M | $1.56B | $2.33B | $6.85B | $7.14B | $6.87B | $6.47B | $6.44B |
| Cuentas por Pagar | $1.9M | $7.9M | $8.6M | $15.9M | $35.6M | $34.4M | $16.6M | $31.3M |
| Deuda a Corto | $1.9M | $8.7M | 0 | 0 | $10.3M | $6.0M | $5.9M | $11.9M |
| Pasivos Corrientes | $65.6M | $241.7M | $320.8M | $507.6M | $572.7M | $638.4M | $652.1M | $632.9M |
| Deuda a Largo | $631.8M | $1.19B | $744.9M | $1.23B | $1.24B | $1.23B | $1.22B | $1.56B |
| Pasivos Totales | $710.1M | $1.78B | $1.39B | $4.86B | $4.86B | $4.75B | $4.77B | $4.93B |
| Reservas | -$119.1M | -$207.8M | -$4.0M | $112.8M | $176.0M | $283.3M | $312.4M | $436.6M |
| Patrimonio Neto | -$119.1M | -$213.8M | $502.8M | $2.00B | $2.27B | $2.12B | $1.69B | $1.51B |
| Deuda Total | $633.7M | $1.25B | $784.5M | $1.30B | $1.31B | $1.33B | $1.39B | $1.81B |
| Deuda Neta | $624.7M | $1.21B | $484.1M | $975.8M | $768.2M | $804.2M | $1.25B | $1.63B |
| Capital Circulante | -$20.6M | -$93.5M | $118.7M | $38.1M | $259.3M | $225.9M | -$201.1M | -$178.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $124.8M | $175.9M | $171.2M | $147.6M |
| Activos Totales | $6.37B | $6.44B | $6.37B | $5.68B |
| Pasivos Totales | $4.84B | $4.93B | $4.90B | $4.85B |
| Patrimonio Neto | $1.53B | $1.51B | $1.47B | $828.7M |
| Deuda Total | $1.56B | $1.81B | $1.57B | $1.52B |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$28.6M | -$78.0M | -$36.4M | $94.9M | $63.2M | $107.3M | $29.1M | $124.2M |
| Amortizaciones | $17.3M | $48.7M | $50.8M | $69.3M | $156.7M | $80.6M | $85.7M | $88.8M |
| Compensación en Acciones | $32.7M | $25.1M | $121.6M | $93.0M | $192.3M | $167.6M | $138.0M | $116.2M |
| Cambio en Capital Circulante | $5.1M | $28.6M | $4.5M | $36.9M | -$58.8M | -$157.6M | -$85.0M | -$57.7M |
| Flujo de Caja Operativo | $43.8M | $44.4M | $169.6M | $299.4M | $417.0M | $434.9M | $369.4M | $465.4M |
| Inversiones (CapEx) | -$4.6M | -$13.6M | -$16.8M | -$23.6M | -$28.9M | -$26.5M | -$68.3M | -$76.6M |
| Adquisiciones | -$8.5M | -$723.1M | -$65.9M | -$684.2M | -$143.7M | 0 | -$500000 | 0 |
| Recompra de Acciones | 0 | -$11.9M | -$332.4M | 0 | 0 | -$400.1M | -$565.6M | -$411.1M |
| Dividendos Pagados | -$93.4M | -$16.5M | -$9.9M | -$19.9M | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $39.2M | $30.8M | $152.8M | $275.8M | $388.1M | $408.4M | $301.1M | $388.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $93.8M | $143.5M | $114.7M | $202.0M |
| Inversiones (CapEx) | -$22.9M | -$16.9M | -$24.1M | -$41.7M |
| Flujo de Caja Libre | $70.9M | $126.6M | $90.6M | $160.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $29.9M | 0 | $25.5M | $51.2M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +103.3% | +62.4% | +56.9% | +46.9% | +12.9% | -2.0% | +2.9% |
| Crecimiento Beneficio Neto (anual) | | -172.7% | +88.3% | +1383.5% | -45.9% | +69.8% | -72.9% | +326.8% |
| Crecimiento BPA (anual) | | +100.0% | | +560.0% | -65.2% | +68.8% | -70.4% | +387.5% |
| Cambio en Acciones (anual) | | +0.0% | +21.1% | +132.0% | -2.1% | +0.6% | -8.9% | -12.5% |
| Crecimiento FCF (anual) | | -21.4% | +396.1% | +80.5% | +40.7% | +5.2% | -26.3% | +29.1% |
| Margen Bruto | 73.8% | 76.6% | 77.4% | 81.7% | 82.8% | 85.6% | 84.4% | 84.0% |
| Margen Operativo | 18.4% | 17.6% | 7.8% | 15.2% | 16.0% | 20.9% | 8.0% | 18.1% |
| Margen EBITDA | 30.5% | 22.7% | 18.6% | 28.7% | 30.1% | 41.5% | 12.9% | 26.1% |
| Margen Neto | -19.8% | -26.6% | -1.9% | 15.6% | 5.8% | 8.7% | 2.4% | 9.9% |
| Margen FCF | 27.2% | 10.5% | 32.1% | 36.9% | 35.3% | 32.9% | 24.8% | 31.1% |
| Tasa Impositiva Efectiva | 9.2% | 7.7% | -14.8% | 6.0% | 67.5% | 72.4% | 7.0% | 36.1% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.27 | $0.21 | $0.88 | $0.68 | $0.98 | $1.03 | $0.83 | $1.23 |
| Dividendo por Acción | $0.65 | $0.11 | $0.06 | $0.05 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $143.5M | $143.5M | $173.8M | $403.3M | $395.0M | $397.0M | $362.0M | $317.0M |
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 | -40.51% |
| Rentabilidad sobre capital invertido | -8.51% |
| Rentabilidad sobre activos | -9.53% |
| Margen bruto | 83.93% |
| Margen operativo | -34.38% |
| Margen neto | -43.02% |
Salud financiera
| Deuda / Patrimonio | 1.83 |
| Ratio corriente | 0.65 |
| Piotroski F-Score | 7 |
| Altman Z-Score | 0.77 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -170.00 | -62.54 | -482.30 | 139.57 | 188.19 | 68.48 | 131.38 | 26.08 |
| P/VC | -40.96 | -22.82 | 16.67 | 12.96 | 5.24 | 3.46 | 2.25 | 2.14 |
| P/V | 33.81 | 16.63 | 17.60 | 34.65 | 10.83 | 5.92 | 3.13 | 2.58 |
| Margen Bruto | 73.8% | 76.6% | 77.4% | 81.7% | 82.8% | 85.6% | 84.4% | 84.0% |
| Margen Operativo | 18.4% | 17.6% | 7.8% | 15.2% | 16.0% | 20.9% | 8.0% | 18.1% |
| Margen Neto | -19.8% | -26.6% | -1.9% | 15.6% | 5.8% | 8.7% | 2.4% | 9.9% |