Estados financieros detallados de Intchains Group Limited (ICG): 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
Intchains Group Limited registró ingresos de $214.8M en el último ejercicio fiscal, con un CAGR de 5 años del 31.5%.
Márgenes de los últimos 12 meses: margen bruto -138.7%, margen operativo -331.3%, margen neto -452.0%.
Al precio actual de $0.97, ICG presenta beneficios negativos (P/E no significativo) y un ROE del -29.77%. La capitalización bursátil es de $29M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $35.8M | $54.6M | $631.8M | $473.7M | $82.2M | $281.8M | $214.8M |
| Coste de Ventas | $29.6M | $23.3M | $114.0M | $87.0M | $73.1M | $130.5M | $199.3M |
| Beneficio Bruto | $6.2M | $31.3M | $517.9M | $386.7M | $9.1M | $151.3M | $15.5M |
| I+D | $9.1M | $22.5M | $53.2M | $48.4M | $42.3M | $109.4M | $75.2M |
| Generales y Administrativos | $5.0M | $3.3M | $17.4M | $15.6M | $31.7M | $38.7M | $42.1M |
| Gastos Operativos | $8.8M | $23.2M | $70.6M | $64.0M | $74.0M | $148.4M | $117.3M |
| Beneficio Operativo | -$2.5M | $8.0M | $447.3M | $322.7M | -$65.0M | $3.2M | -$101.8M |
| EBITDA | -$2.1M | $9.1M | $450.9M | $368.9M | -$31.7M | $55.2M | -$74.8M |
| Gastos por Intereses | $132000 | $168000 | $197000 | $73000 | $62000 | $56000 | 0 |
| Beneficio Antes de Impuestos | -$2.7M | $8.2M | $450.1M | $367.1M | -$35.6M | $50.2M | -$81.6M |
| Impuestos | $238000 | 0 | 0 | $11.9M | -$8.8M | -$1.3M | -$30.9M |
| Beneficio Neto | -$3.0M | $8.2M | $450.1M | $355.2M | -$26.8M | $51.5M | -$50.6M |
| BPA | $-0.05 | $0.14 | $17.84 | $5.70 | $-0.44 | $1.72 | $-1.68 |
| BPA Diluido | $-0.05 | $0.14 | $17.84 | $5.70 | $-0.44 | $1.72 | $-1.68 |
| Acciones en Circulación (Diluidas) | $59.8M | $59.8M | $59.8M | $62.4M | $59.7M | $30.0M | $30.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $9.1M | $35.6M | $5.6M | $11.1M |
| Beneficio Bruto | -$9.1M | -$59.8M | -$5.5M | -$10.9M |
| Beneficio Operativo | -$41.8M | -$82.4M | -$26.5M | -$53.0M |
| EBITDA | $69.0M | -$149.7M | -$24.8M | -$138.3M |
| Beneficio Neto | $74.4M | -$128.9M | -$74.5M | -$148.9M |
| BPA | $2.44 | $-4.20 | $-1.22 | $-4.90 |
| BPA Diluido | $2.44 | $-4.20 | $-1.22 | $-4.90 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $4.0M | $19.6M | $502.4M | $712.2M | $585.2M | $322.3M | $226.8M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | $103.2M | $198.6M | $248.3M |
| Cuentas por Cobrar | $6.0M | $8.3M | 0 | $3.5M | $13.8M | $28.4M | 0 |
| Inventario | $22.4M | $9.5M | $66.8M | $77.8M | $41.8M | $98.6M | $52.2M |
| Activos Corrientes | $38.1M | $43.3M | $607.4M | $832.0M | $777.5M | $720.9M | $582.4M |
| Inmovilizado Material | $1.1M | $645000 | $3.9M | $8.3M | $163.8M | $157.3M | $142.8M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | $12.0M |
| Activos Intangibles | 0 | 0 | 0 | 0 | $4.1M | $3.6M | 0 |
| Activos Totales | $39.2M | $43.9M | $611.3M | $953.1M | $979.2M | $1.09B | $1.02B |
| Cuentas por Pagar | $180000 | $621000 | $6.6M | $2.9M | $195000 | $14.8M | $3.0M |
| Deuda a Corto | $11.0M | 0 | 0 | 0 | 0 | 0 | $542339 |
| Pasivos Corrientes | $18.4M | $9.7M | $31.6M | $19.2M | $28.2M | $76.4M | $42.8M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | $558352 |
| Pasivos Totales | $18.9M | $9.7M | $32.9M | $19.5M | $28.9M | $76.4M | $43.4M |
| Reservas | -$24.6M | -$16.3M | $390.1M | $741.5M | $714.0M | $814.1M | $710.5M |
| Patrimonio Neto | $20.3M | $34.2M | $578.4M | $933.6M | $950.3M | $1.01B | $972.7M |
| Deuda Total | $11.6M | $239000 | $2.2M | $1.3M | $1.9M | $272000 | $1.7M |
| Deuda Neta | $7.5M | -$19.4M | -$500.2M | -$711.0M | -$686.5M | -$520.5M | -$473.4M |
| Capital Circulante | $19.7M | $33.6M | $575.8M | $812.8M | $749.4M | $644.5M | $539.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $259.5M | $226.8M | $306.7M | $306.7M |
| Activos Totales | $1.14B | $1.02B | $862.9M | $862.9M |
| Pasivos Totales | $40.1M | $43.4M | $34.0M | $34.0M |
| Patrimonio Neto | $1.10B | $972.7M | $829.0M | $829.0M |
| Deuda Total | 0 | $1.7M | $91000 | $91000 |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$3.0M | $8.2M | $450.1M | $355.2M | -$26.8M | $51.5M | -$47.5M |
| Amortizaciones | $440000 | $687000 | $1.4M | $2.8M | $3.8M | $5.0M | $6.8M |
| Compensación en Acciones | $923000 | 0 | 0 | 0 | $3.5M | $9.0M | $8.7M |
| Cambio en Capital Circulante | -$4.8M | $6.5M | -$56.2M | -$32.7M | $2.3M | -$85.4M | -$65.7M |
| Flujo de Caja Operativo | -$6.0M | $15.6M | $395.4M | $326.7M | -$4.7M | -$138.3M | -$92.9M |
| Inversiones (CapEx) | -$165000 | -$251000 | -$1.8M | -$4.0M | -$51.6M | -$10.1M | -$4.7M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | -$10.5M | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$6.2M | $15.3M | $393.6M | $322.7M | -$56.3M | -$148.3M | -$97.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | 0 | 0 | 0 | 0 |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.2M | 0 | $2.8M | $2.8M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +52.5% | +1057.1% | -25.0% | -82.6% | +242.7% | -23.8% |
| Crecimiento Beneficio Neto (anual) | | +379.6% | +5358.3% | -21.1% | -107.5% | +292.2% | -198.3% |
| Crecimiento BPA (anual) | | +383.4% | +12642.9% | -68.0% | -107.7% | +490.9% | -197.7% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +4.3% | -4.3% | -49.7% | +0.8% |
| Crecimiento FCF (anual) | | +349.3% | +2467.0% | -18.0% | -117.4% | -163.6% | +34.2% |
| Margen Bruto | 17.4% | 57.3% | 82.0% | 81.6% | 11.0% | 53.7% | 7.2% |
| Margen Operativo | -7.1% | 14.7% | 70.8% | 68.1% | -79.0% | 1.1% | -47.4% |
| Margen EBITDA | -6.0% | 16.7% | 71.4% | 77.9% | -38.5% | 19.6% | -34.8% |
| Margen Neto | -8.2% | 15.1% | 71.2% | 75.0% | -32.6% | 18.3% | -23.6% |
| Margen FCF | -17.2% | 28.1% | 62.3% | 68.1% | -68.4% | -52.6% | -45.4% |
| Tasa Impositiva Efectiva | -8.8% | 0.0% | 0.0% | 3.2% | 24.6% | -2.6% | 37.9% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.10 | $0.26 | $6.58 | $5.17 | $-0.94 | $-4.94 | $-3.23 |
| Dividendo por Acción | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $59.8M | $58.8M | $59.8M | $59.8M | $59.7M | $30.0M | $30.2M |
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 | -29.77% |
| Rentabilidad sobre capital invertido | -23.69% |
| Rentabilidad sobre activos | -32.20% |
| Margen bruto | -138.66% |
| Margen operativo | -331.31% |
| Margen neto | -452.00% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 16.22 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1127.40 | 372.86 | 2.85 | 9.68 | -199.53 | 14.00 | -7.45 |
| P/VC | 163.76 | 89.80 | 5.26 | 3.54 | 5.51 | 0.71 | 0.39 |
| P/V | 93.03 | 56.23 | 4.81 | 6.97 | 63.74 | 2.56 | 1.76 |
| Margen Bruto | 17.4% | 57.3% | 82.0% | 81.6% | 11.0% | 53.7% | 7.2% |
| Margen Operativo | -7.1% | 14.7% | 70.8% | 68.1% | -79.0% | 1.1% | -47.4% |
| Margen Neto | -8.2% | 15.1% | 71.2% | 75.0% | -32.6% | 18.3% | -23.6% |