Estados financieros detallados de HWH International Inc. (HWH): 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
HWH International Inc. registró ingresos de $866926 en el último ejercicio fiscal, con un CAGR de 5 años del -22.7%.
Márgenes de los últimos 12 meses: margen bruto 59.2%, margen operativo -7.9%, margen neto -6.8%.
Al precio actual de $2.00, HWH presenta beneficios negativos (P/E no significativo) y un ROE del -103.87%. La capitalización bursátil es de $15M.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $3.1M | $4.9M | $1.2M | $830519 | $1.3M | $866926 |
| Coste de Ventas | $1.8M | $2.6M | $656054 | $334825 | $651721 | $407199 |
| Beneficio Bruto | $1.3M | $2.3M | $546836 | $495694 | $601856 | $459727 |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $584664 | $504540 | $1.6M | $2.9M | $2.6M | $3.5M |
| Gastos Operativos | $584132 | $504540 | $1.6M | $2.9M | $2.6M | $3.5M |
| Beneficio Operativo | $728661 | $1.8M | -$1.0M | -$2.4M | -$2.0M | -$3.1M |
| EBITDA | $730258 | $2.1M | -$660709 | -$603273 | -$2.5M | -$2.5M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | $72076 | $52242 |
| Beneficio Antes de Impuestos | $729193 | $1.9M | -$889129 | -$661279 | -$2.6M | -$2.6M |
| Impuestos | $97085 | $576326 | 0 | $415383 | 0 | $47472 |
| Beneficio Neto | $632108 | $1.3M | -$893965 | -$1.1M | -$2.6M | -$2.6M |
| BPA | $0.06 | $0.14 | $-0.09 | $-0.33 | $-0.16 | $-0.40 |
| BPA Diluido | $0.06 | $0.14 | $-0.09 | $-0.33 | $-0.16 | $-0.40 |
| Acciones en Circulación (Diluidas) | $9.8M | $9.8M | $9.6M | $3.2M | $16.7M | $6.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $206778 | $54560 | $64200 | $64200 |
| Beneficio Bruto | $123582 | $39661 | $47288 | $20364 |
| Beneficio Operativo | -$201394 | -$2.0M | -$624914 | -$228699 |
| EBITDA | -$246748 | -$2.0M | -$624914 | $215040 |
| Beneficio Neto | -$291004 | -$1.9M | -$626197 | $211965 |
| BPA | $-0.04 | $-0.29 | $-0.08 | $0.03 |
| BPA Diluido | $-0.04 | $-0.29 | $-0.08 | $0.03 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.6M | $2.7M | $1.7M | $1.2M | $4.3M | $2.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | $84466 |
| Cuentas por Cobrar | $937480 | $2519 | $9070 | $69814 | $1.1M | $778842 |
| Inventario | $119962 | $47289 | $34126 | $1977 | $1574 | $1057 |
| Activos Corrientes | $3.7M | $3.3M | $2.0M | $1.3M | $5.5M | $3.0M |
| Inmovilizado Material | $451797 | $385796 | $1.1M | $727738 | $582345 | $111808 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $4.7M | $3.9M | $3.7M | $23.7M | $6.4M | $4.6M |
| Cuentas por Pagar | $6847 | $19069 | $63354 | $167355 | $483430 | $305028 |
| Deuda a Corto | $341688 | 0 | 0 | 0 | $1.2M | $276751 |
| Pasivos Corrientes | $4.1M | $2.2M | $2.4M | $6.0M | $3.3M | $1.3M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | $592307 |
| Pasivos Totales | $4.1M | $2.3M | $3.0M | $6.2M | $3.5M | $1.9M |
| Reservas | $570281 | $1.8M | $930175 | -$3.6M | -$6.2M | -$8.9M |
| Patrimonio Neto | $596439 | $1.6M | $734982 | $17.5M | $2.8M | $2.6M |
| Deuda Total | $789372 | $351222 | $978633 | $612067 | $1.8M | $964965 |
| Deuda Neta | -$800921 | -$2.3M | -$672455 | -$547134 | -$2.6M | -$1.2M |
| Capital Circulante | -$441709 | $1.1M | -$362369 | -$4.7M | $2.2M | $1.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $2.9M | $2.1M | $1.5M | $1.5M |
| Activos Totales | $5.2M | $4.6M | $4.2M | $4.5M |
| Pasivos Totales | $2.3M | $1.9M | $2.1M | $1.7M |
| Patrimonio Neto | $2.8M | $2.6M | $2.0M | $2.7M |
| Deuda Total | $1.1M | $964965 | $805266 | $206247 |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $632108 | $1.3M | $113541 | $548873 | -$2.7M | -$2.6M |
| Amortizaciones | $90461 | $269122 | 0 | 0 | $48172 | $19494 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | -$2.0M | $524272 | $357498 | $147272 | -$442644 | -$947776 |
| Flujo de Caja Operativo | $1.2M | $660015 | -$514070 | -$1.5M | -$1.7M | -$2.0M |
| Inversiones (CapEx) | -$9208 | -$39088 | 0 | $4 | -$30395 | -$19466 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | -$23350 |
| Recompra de Acciones | 0 | 0 | 0 | -$68.4M | -$21.1M | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $1.2M | $620927 | -$514070 | -$1.5M | -$1.8M | -$2.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$418506 | -$1.0M | -$192539 | $478008 |
| Inversiones (CapEx) | -$18004 | -$85 | -$761 | 0 |
| Flujo de Caja Libre | -$436510 | -$1.0M | -$193300 | $478010 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +56.1% | -75.5% | -31.0% | +50.9% | -30.8% |
| Crecimiento Beneficio Neto (anual) | | +109.7% | -167.5% | -20.9% | -139.8% | -1.5% |
| Crecimiento BPA (anual) | | +117.4% | -166.3% | -255.6% | +51.5% | -150.0% |
| Cambio en Acciones (anual) | | +0.0% | -1.8% | -66.3% | +414.2% | -60.7% |
| Crecimiento FCF (anual) | | -49.8% | -182.8% | -195.6% | -17.0% | -11.8% |
| Margen Bruto | 41.7% | 46.9% | 45.5% | 59.7% | 48.0% | 53.0% |
| Margen Operativo | 23.2% | 36.6% | -86.2% | -290.6% | -163.1% | -354.4% |
| Margen EBITDA | 23.2% | 42.1% | -54.9% | -72.6% | -198.3% | -292.8% |
| Margen Neto | 20.1% | 27.0% | -74.3% | -130.1% | -206.7% | -303.4% |
| Margen FCF | 39.3% | 12.6% | -42.7% | -183.0% | -141.9% | -229.4% |
| Tasa Impositiva Efectiva | 13.3% | 30.3% | -0.0% | -62.8% | -0.0% | -1.8% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.13 | $0.06 | $-0.05 | $-0.47 | $-0.11 | $-0.30 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $9.8M | $9.8M | $9.6M | $3.2M | $16.7M | $6.6M |
Qué mirar en empresas de Consumer Cyclical
- Margen operativo medio 5a (Media del ciclo) — Mira la media del ciclo, no el año actual (pico o valle).
- Rotación de inventario (≥4x/año) — El retail sano rota inventario rápido. Una caída señala demanda débil.
- ROIC medio 5a (≥12%) — Cíclicas con ROIC medio >12% son ganadoras estructurales.
- Deuda neta / EBITDA (pico) (<3x en valle) — En cíclicas la deuda mata en recesión.
- Current Ratio (>1,5x) — Aguanta 12-18 meses sin caja operativa.
- Altman Z-Score (>2,99 seguro) — Modelo de bancarrota — clave en cíclicas sensibles a recesión.
Rentabilidad
| Rentabilidad sobre capital | -103.87% |
| Rentabilidad sobre capital invertido | -102.14% |
| Rentabilidad sobre activos | -58.76% |
| Margen bruto | 59.24% |
| Margen operativo | -787.50% |
| Margen neto | -680.01% |
Salud financiera
| Deuda / Patrimonio | 0.08 |
| Ratio corriente | 1.82 |
| Piotroski F-Score | 4 |
| Altman Z-Score | -1.21 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 761.65 | 350.36 | -541.49 | -162.12 | -20.12 | -3.72 |
| P/VC | 807.17 | 300.95 | 658.71 | 9.92 | 19.43 | 3.73 |
| P/V | 152.98 | 98.00 | 402.48 | 209.01 | 42.85 | 11.28 |
| Margen Bruto | 41.7% | 46.9% | 45.5% | 59.7% | 48.0% | 53.0% |
| Margen Operativo | 23.2% | 36.6% | -86.2% | -290.6% | -163.1% | -354.4% |
| Margen Neto | 20.1% | 27.0% | -74.3% | -130.1% | -206.7% | -303.4% |