Estados financieros detallados de i-80 Gold Corp. (IAUX): 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 5.0%, margen operativo -91.9%, margen neto -198.8%.
Al precio actual de $1.65, IAUX presenta beneficios negativos (P/E no significativo) y un ROE del -85.63%. La capitalización bursátil es de $1.4B.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $86.6M | $27.9M | $10.5M | 0 | 0 | $37.0M | $54.9M | $50.3M | $89.2M |
| Coste de Ventas | $22.9M | $9.6M | $5.5M | $314000 | $387000 | $33.4M | $60.1M | $66.1M | $98.9M |
| Beneficio Bruto | $63.7M | $18.4M | $5.0M | -$314000 | -$387000 | $3.6M | -$5.1M | -$15.7M | -$9.7M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $17.1M | $10.3M | $8.2M | $5.9M | $23.6M | $20.4M | $21.6M | $20.8M | $26.6M |
| Gastos Operativos | $56.7M | $10.0M | $8.2M | $5.9M | $23.6M | $65.4M | $95.8M | $73.4M | $78.3M |
| Beneficio Operativo | $13.0M | $8.1M | -$3.2M | -$6.2M | -$24.0M | -$61.9M | -$101.0M | -$89.1M | -$88.0M |
| EBITDA | $16.9M | $2.4M | -$3.2M | -$6.1M | -$24.1M | -$67.7M | -$57.8M | -$85.3M | -$144.4M |
| Gastos por Intereses | 0 | 0 | 0 | $4.8M | $1.2M | $17.1M | $29.6M | $31.6M | $28.8M |
| Beneficio Antes de Impuestos | $2.2M | $3.8M | -$8.1M | -$12.5M | $96.7M | -$91.0M | -$92.9M | -$120.0M | -$177.0M |
| Impuestos | $2.5M | $614000 | 0 | 0 | $20.1M | -$11.8M | -$3.2M | $1.5M | -$2.4M |
| Beneficio Neto | -$251000 | $3.2M | -$8.1M | -$2.8M | $88.2M | -$79.2M | -$89.7M | -$121.5M | -$174.6M |
| BPA | $-0.00 | $0.02 | $-0.05 | $-0.02 | $0.37 | $-0.33 | $-0.33 | $-0.34 | $-0.27 |
| BPA Diluido | $-0.00 | $0.02 | $-0.05 | $-0.02 | $0.37 | $-0.33 | $-0.33 | $-0.34 | $-0.27 |
| Acciones en Circulación (Diluidas) | $169.1M | $169.1M | $169.1M | $182.2M | $238.7M | $240.1M | $274.1M | $359.2M | $671.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $32.0M | $21.3M | $52.4M | $24.3M |
| Beneficio Bruto | $3.1M | $4.7M | -$10.0M | $8.6M |
| Beneficio Operativo | -$27.8M | -$35.8M | -$21.8M | -$34.1M |
| EBITDA | -$33.9M | -$81.9M | -$69.2M | -$40.1M |
| Beneficio Neto | -$41.9M | -$85.6M | -$78.6M | -$52.5M |
| BPA | $-0.05 | $-0.07 | $-0.09 | $-0.06 |
| BPA Diluido | $-0.05 | $-0.07 | $-0.09 | $-0.06 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5.3M | $6.9M | $26.2M | $15.2M | $87.7M | $48.3M | $16.3M | $19.0M | $63.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $86.6M | $55.5M | $27.5M | $10.3M | $393000 | $623000 | $4.3M | $3.3M | $1.9M |
| Inventario | $3.9M | $198000 | $4.2M | $4.4M | $26.0M | $16.5M | $11.4M | $15.3M | $29.3M |
| Activos Corrientes | $100.2M | $67.8M | $58.9M | $34.5M | $121.5M | $77.3M | $39.8M | $42.3M | $100.3M |
| Inmovilizado Material | $54.1M | $63.3M | $94.7M | $100.2M | $426.3M | $420.5M | $569.4M | $572.4M | $556.4M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $165.4M | $139.9M | $162.3M | $143.2M | $656.3M | $642.0M | $654.3M | $655.6M | $703.4M |
| Cuentas por Pagar | $1.4M | $3.0M | $20.1M | $113000 | $8.5M | $10.6M | $27.2M | $26.4M | $41.5M |
| Deuda a Corto | $46000 | 0 | 0 | $70.5M | $58000 | $21.3M | $31.2M | $37.8M | $76.8M |
| Pasivos Corrientes | $97.8M | $67.6M | $98.5M | $151.5M | $29.9M | $85.6M | $65.2M | $74.0M | $138.3M |
| Deuda a Largo | $70.5M | $70.5M | $70.5M | $105000 | $41.4M | $94.6M | $163.0M | $153.6M | $97.9M |
| Pasivos Totales | $175.7M | $146.4M | $176.4M | $159.8M | $249.4M | $308.5M | $309.0M | $315.0M | $356.6M |
| Reservas | -$26.2M | -$23.0M | -$31.1M | -$33.9M | $43.1M | -$36.1M | -$163.3M | -$284.8M | -$483.7M |
| Patrimonio Neto | -$10.2M | -$6.5M | -$14.1M | -$16.5M | $407.0M | $333.4M | $345.3M | $340.7M | $346.8M |
| Deuda Total | $70.5M | $70.5M | $70.7M | $70.6M | $41.4M | $115.9M | $194.4M | $192.1M | $174.7M |
| Deuda Neta | $65.3M | $63.6M | $44.5M | $55.4M | -$46.2M | $67.6M | $178.1M | $173.1M | $111.5M |
| Capital Circulante | $2.4M | $207000 | -$39.6M | -$117.0M | $91.6M | -$8.3M | -$25.4M | -$31.7M | -$37.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $73.9M | $63.2M | $513.5M | $464.6M |
| Activos Totales | $543.5M | $703.4M | $1.18B | $1.17B |
| Pasivos Totales | $239.5M | $356.6M | $877.4M | $915.8M |
| Patrimonio Neto | $304.0M | $346.8M | $298.9M | $258.0M |
| Deuda Total | $126.4M | $174.7M | $437.8M | $445.0M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$251000 | $3.2M | -$8.1M | -$12.5M | $76.6M | -$79.2M | -$65.2M | -$121.5M | -$198.8M |
| Amortizaciones | $4.0M | $777000 | $724000 | $281000 | $361000 | $9.2M | $11.7M | $3.2M | $7.2M |
| Compensación en Acciones | $989000 | $673000 | $858000 | 0 | $2.7M | 0 | 0 | $570000 | 0 |
| Cambio en Capital Circulante | -$50.2M | $31.9M | $28.7M | -$3.2M | $2.9M | $7.2M | $8.4M | -$2.1M | -$5.2M |
| Flujo de Caja Operativo | -$7.2M | $39.8M | $55.5M | $4.6M | -$13.0M | -$45.8M | -$54.6M | -$82.5M | -$85.6M |
| Inversiones (CapEx) | -$1.5M | -$9.0M | -$32.9M | -$7.6M | -$6.0M | -$50.2M | -$39.5M | -$2.0M | -$9.6M |
| Adquisiciones | 0 | 0 | 0 | 0 | -$98.4M | 0 | $10.0M | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$8.7M | $30.8M | $22.6M | -$3.0M | -$19.0M | -$96.1M | -$94.1M | -$84.5M | -$95.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$624075 | -$34.3M | -$69.7M | -$49.6M |
| Inversiones (CapEx) | -$1.9M | -$4.9M | -$11.9M | -$21.5M |
| Flujo de Caja Libre | -$2.5M | -$39.2M | -$81.6M | -$71.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | $2.5M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -67.8% | -62.5% | -100.0% | | | +48.6% | -8.3% | +77.2% |
| Crecimiento Beneficio Neto (anual) | | +1361.4% | -355.7% | +65.7% | +3280.4% | -189.8% | -13.2% | -35.6% | -43.7% |
| Crecimiento BPA (anual) | | +1346.7% | -356.1% | +66.6% | +2412.5% | -189.2% | +0.0% | -3.0% | +20.6% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +7.7% | +31.0% | +0.6% | +14.1% | +31.1% | +87.0% |
| Crecimiento FCF (anual) | | +453.7% | -26.6% | -113.1% | -540.7% | -405.0% | +2.0% | +10.2% | -12.7% |
| Margen Bruto | 73.6% | 65.8% | 47.4% | | | 9.7% | -9.4% | -31.2% | -10.9% |
| Margen Operativo | 15.0% | 28.9% | -30.5% | | | -167.4% | -183.9% | -177.0% | -98.7% |
| Margen EBITDA | 19.5% | 8.5% | -30.9% | | | -183.2% | -105.3% | -169.4% | -161.9% |
| Margen Neto | -0.3% | 11.3% | -77.4% | | | -214.3% | -163.3% | -241.4% | -195.9% |
| Margen FCF | -10.1% | 110.3% | 216.0% | | | -259.9% | -171.4% | -167.9% | -106.8% |
| Tasa Impositiva Efectiva | 111.2% | 16.2% | -0.0% | -0.0% | 20.7% | 13.0% | 3.5% | -1.2% | 1.3% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.05 | $0.18 | $0.13 | $-0.02 | $-0.08 | $-0.40 | $-0.34 | $-0.24 | $-0.14 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $169.1M | $169.1M | $169.1M | $182.2M | $238.7M | $240.1M | $274.1M | $359.2M | $671.7M |
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 | -85.63% |
| Rentabilidad sobre capital invertido | -10.73% |
| Rentabilidad sobre activos | -22.03% |
| Margen bruto | 4.97% |
| Margen operativo | -91.94% |
| Margen neto | -198.82% |
Salud financiera
| Deuda / Patrimonio | 1.72 |
| Ratio corriente | 8.63 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1386.67 | 111.23 | -43.42 | -130.00 | 6.63 | -8.55 | -5.33 | -1.43 | -5.41 |
| P/VC | -34.33 | -54.39 | -24.94 | -22.91 | 1.44 | 2.03 | 1.40 | 0.51 | 2.83 |
| P/V | 4.06 | 12.60 | 33.62 | 0.00 | 0.00 | 18.32 | 8.78 | 3.46 | 11.00 |
| Margen Bruto | 73.6% | 65.8% | 47.4% | 0.0% | 0.0% | 9.7% | -9.4% | -31.2% | -10.9% |
| Margen Operativo | 15.0% | 28.9% | -30.5% | 0.0% | 0.0% | -167.4% | -183.9% | -177.0% | -98.7% |
| Margen Neto | -0.3% | 11.3% | -77.4% | 0.0% | 0.0% | -214.3% | -163.3% | -241.4% | -195.9% |