Estados financieros detallados de iHuman Inc. (IH): 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
iHuman Inc. registró ingresos de $807.0M en el último ejercicio fiscal, con un CAGR de 5 años del 8.7%.
Márgenes de los últimos 12 meses: margen bruto 67.9%, margen operativo 8.3%, margen neto 11.8%. El flujo de caja libre creció a un CAGR del -26.3% en 5 años.
Al precio actual de $1.17, IH cotiza a un P/E de 1.51 y un ROE del 9.58%. La capitalización bursátil es de $12M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $131.9M | $218.7M | $531.9M | $944.7M | $985.5M | $1.02B | $922.2M | $807.0M |
| Coste de Ventas | $65.9M | $84.2M | $166.5M | $284.1M | $294.3M | $296.9M | $282.0M | $259.4M |
| Beneficio Bruto | $66.0M | $134.5M | $365.4M | $660.6M | $691.2M | $721.3M | $640.2M | $547.6M |
| I+D | $52.1M | $170.2M | $199.5M | $415.3M | $313.5M | $257.5M | $247.8M | $208.4M |
| Generales y Administrativos | $36.0M | $243.1M | $210.4M | $299.5M | $266.1M | $303.8M | $320.5M | $272.4M |
| Gastos Operativos | $88.1M | $413.3M | $409.9M | $714.9M | $579.6M | $561.4M | $568.2M | $480.9M |
| Beneficio Operativo | -$22.1M | -$278.8M | -$44.5M | -$54.2M | $111.6M | $159.9M | $71.9M | $66.8M |
| EBITDA | -$21.7M | -$278.2M | -$41.6M | -$30.8M | $143.6M | $214.3M | $124.3M | $109.5M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$16.0M | -$274.2M | -$37.0M | -$37.2M | $132.8M | $202.6M | $110.6M | $101.8M |
| Impuestos | $1.6M | $1.4M | $466000 | -$145000 | $23.0M | $21.7M | $12.0M | $6.4M |
| Beneficio Neto | -$17.6M | -$275.6M | -$37.5M | -$37.1M | $109.8M | $180.9M | $98.6M | $95.4M |
| BPA | $-1.72 | $-25.85 | $-5.35 | $-3.45 | $10.30 | $17.15 | $9.40 | $9.10 |
| BPA Diluido | $-1.72 | $-25.85 | $-5.35 | $-3.50 | $10.15 | $16.50 | $9.00 | $8.75 |
| Acciones en Circulación (Diluidas) | $10.7M | $10.7M | $9.1M | $10.7M | $10.8M | $11.0M | $10.8M | $10.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Ingresos | $200.2M | $205.8M | $190.7M | $182.5M |
| Beneficio Bruto | $135.7M | $140.6M | $127.5M | $122.0M |
| Beneficio Operativo | $19.5M | $16.7M | $9.0M | -$10.1M |
| EBITDA | $34.3M | $22.0M | $15.9M | -$8.2M |
| Beneficio Neto | $31.9M | $21.6M | $15.4M | $4.5M |
| BPA | $3.10 | $2.10 | $1.50 | $0.44 |
| BPA Diluido | $3.00 | $2.00 | $1.45 | $0.42 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $6.1M | $104.9M | $861.7M | $855.4M | $1.05B | $1.21B | $1.12B | $1.15B |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | $45.5M | 0 |
| Cuentas por Cobrar | $13.6M | $21.0M | $78.3M | $59.0M | $81.9M | $62.6M | $54.1M | $51.4M |
| Inventario | $29.6M | $20.7M | $16.9M | $28.1M | $19.1M | $16.5M | $23.5M | $21.4M |
| Activos Corrientes | $57.3M | $163.1M | $1.02B | $1.02B | $1.25B | $1.38B | $1.34B | $1.30B |
| Inmovilizado Material | $660000 | $2.5M | $12.9M | $50.5M | $22.0M | $9.8M | $18.4M | $14.2M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $136000 | $103000 | $11.8M | $27.3M | $24.9M | $23.2M | $16.4M | $17.6M |
| Activos Totales | $58.6M | $168.3M | $1.05B | $1.10B | $1.33B | $1.45B | $1.42B | $1.37B |
| Cuentas por Pagar | $13.1M | $10.3M | $21.6M | $30.5M | $24.2M | $22.1M | $30.2M | $25.1M |
| Deuda a Corto | $61.8M | 0 | 0 | 0 | 0 | 0 | 0 | $2.2M |
| Pasivos Corrientes | $122.3M | $182.8M | $399.2M | $482.9M | $561.1M | $490.8M | $447.5M | $364.2M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $122.3M | $182.8M | $404.3M | $492.5M | $563.9M | $492.7M | $458.8M | $373.4M |
| Reservas | -$72.9M | -$348.5M | -$386.0M | -$423.0M | -$321.2M | -$140.5M | -$42.1M | $53.3M |
| Patrimonio Neto | -$63.7M | -$14.4M | $642.7M | $608.4M | $769.5M | $957.8M | $960.8M | $995.8M |
| Deuda Total | $61.8M | 0 | $6.6M | $34.2M | $9.0M | $3.9M | $14.9M | $11.4M |
| Deuda Neta | $55.7M | -$104.9M | -$855.1M | -$821.1M | -$1.04B | -$1.21B | -$1.15B | -$1.14B |
| Capital Circulante | -$65.0M | -$19.7M | $622.2M | $532.3M | $692.7M | $891.7M | $888.3M | $935.0M |
Balance (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Caja y Equivalentes | $605.1M | $516.4M | $1.15B | $355.1M |
| Activos Totales | $1.34B | $1.37B | $1.37B | $1.32B |
| Pasivos Totales | $365.7M | $384.8M | $373.4M | $367.0M |
| Patrimonio Neto | $969.4M | $983.5M | $995.8M | $955.4M |
| Deuda Total | $12.3M | $11.8M | $11.4M | $10.9M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$17.6M | -$275.6M | -$37.5M | -$37.1M | $752.5M | $180.9M | $98.6M | $95.4M |
| Amortizaciones | $365000 | $597000 | $2.8M | $6.4M | $74.2M | $11.7M | $13.7M | $7.7M |
| Compensación en Acciones | 0 | $270.5M | $79.9M | $15.2M | $89.4M | $9.4M | $2.8M | $722000 |
| Cambio en Capital Circulante | $12.5M | $46.8M | $165.0M | $30.2M | $178.0M | -$40.4M | -$58.5M | -$55.9M |
| Flujo de Caja Operativo | -$4.5M | $42.6M | $223.0M | $38.2M | $1.29B | $172.1M | $58.5M | $49.9M |
| Inversiones (CapEx) | -$529000 | -$2.4M | -$15.9M | -$32.3M | -$45.1M | -$6.5M | -$7.4M | -$4.8M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | -$164000 | -$7.0M | -$9.5M | -$9.6M | -$16.7M |
| Dividendos Pagados | -$10.9M | -$3.1M | -$66.0M | 0 | 0 | 0 | -$35.3M | -$38.0M |
| Flujo de Caja Libre | -$5.0M | $40.2M | $207.1M | $5.9M | $1.25B | $165.6M | $51.1M | $45.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| 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 | $87000 | $196000 | $201000 | $48000 |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +65.8% | +143.3% | +77.6% | +4.3% | +3.3% | -9.4% | -12.5% |
| Crecimiento Beneficio Neto (anual) | | -1465.5% | +86.4% | +1.1% | +396.4% | +64.7% | -45.5% | -3.2% |
| Crecimiento BPA (anual) | | -1402.9% | +79.3% | +35.5% | +398.6% | +66.5% | -45.2% | -3.2% |
| Cambio en Acciones (anual) | | +0.0% | -15.1% | +17.8% | +1.3% | +1.3% | -0.9% | -1.3% |
| Crecimiento FCF (anual) | | +899.4% | +414.7% | -97.1% | +20912.1% | -86.7% | -69.1% | -11.6% |
| Margen Bruto | 50.1% | 61.5% | 68.7% | 69.9% | 70.1% | 70.8% | 69.4% | 67.9% |
| Margen Operativo | -16.7% | -127.5% | -8.4% | -5.7% | 11.3% | 15.7% | 7.8% | 8.3% |
| Margen EBITDA | -16.5% | -127.2% | -7.8% | -3.3% | 14.6% | 21.0% | 13.5% | 13.6% |
| Margen Neto | -13.3% | -126.0% | -7.0% | -3.9% | 11.1% | 17.8% | 10.7% | 11.8% |
| Margen FCF | -3.8% | 18.4% | 38.9% | 0.6% | 126.5% | 16.3% | 5.5% | 5.6% |
| Tasa Impositiva Efectiva | -10.1% | -0.5% | -1.3% | 0.4% | 17.3% | 10.7% | 10.9% | 6.3% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.47 | $3.77 | $22.87 | $0.56 | $115.30 | $15.12 | $4.71 | $4.22 |
| Dividendo por Acción | $1.02 | $0.29 | $7.29 | $0.00 | $0.00 | $0.00 | $3.25 | $3.55 |
| Acciones en Circulación (Básicas) | $10.7M | $10.7M | $9.1M | $10.7M | $10.7M | $10.6M | $10.5M | $10.3M |
Qué mirar en empresas de Consumer Defensive
- Margen bruto (estable 5a) (Estable ≥35%) — Pricing power de marca — Coca-Cola no pierde margen ni en crisis.
- ROE / ROIC estables (ROE ≥15% estable) — Defensivas tienen ROE alto consistente — los 'stalwarts' de Lynch.
- FCF / Beneficio Neto (≥90%) — Conversión de beneficios a caja — los mejores superan 95%.
- Crecimiento del dividendo 10a (≥6%/año) — Los Dividend Aristocrats suben 25+ años — señal de moat.
- Payout Ratio (<75%) — >80% = dividendo en riesgo. <60% cómodo.
- Deuda Neta / EBITDA (<2,5x) — Una defensiva con mucha deuda pierde su esencia.
Rentabilidad
| Rentabilidad sobre capital | 9.58% |
| Rentabilidad sobre capital invertido | 6.21% |
| Rentabilidad sobre activos | 6.97% |
| Margen bruto | 67.86% |
| Margen operativo | 8.27% |
| Margen neto | 11.82% |
Salud financiera
| Deuda / Patrimonio | 0.01 |
| Ratio corriente | 3.57 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 1.87 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -64.13 | -4.31 | -22.10 | -5.16 | 1.74 | 1.30 | 1.31 | 1.61 |
| P/VC | -18.41 | -82.21 | 1.67 | 0.31 | 0.25 | 0.24 | 0.13 | 0.15 |
| P/V | 8.90 | 5.43 | 2.01 | 0.20 | 0.19 | 0.23 | 0.14 | 0.19 |
| Margen Bruto | 50.1% | 61.5% | 68.7% | 69.9% | 70.1% | 70.8% | 69.4% | 67.9% |
| Margen Operativo | -16.7% | -127.5% | -8.4% | -5.7% | 11.3% | 15.7% | 7.8% | 8.3% |
| Margen Neto | -13.3% | -126.0% | -7.0% | -3.9% | 11.1% | 17.8% | 10.7% | 11.8% |