Estados financieros detallados de i3 Verticals, Inc. (IIIV): 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
i3 Verticals, Inc. registró ingresos de $213.2M en el último ejercicio fiscal, con un CAGR de 5 años del 7.3%.
Márgenes de los últimos 12 meses: margen bruto 66.1%, margen operativo 2.5%, margen neto 4.9%. El flujo de caja libre creció a un CAGR del -26.7% en 5 años.
Al precio actual de $14.71, IIIV cotiza a un P/E de 35.04 y un ROE del 3.18%. La capitalización bursátil es de $352M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $199.6M | $262.6M | $323.5M | $376.3M | $150.1M | $224.1M | $187.8M | $189.7M | $229.9M | $213.2M |
| Coste de Ventas | $162.9M | $217.9M | $254.9M | $287.1M | $47.2M | $57.7M | $12.8M | $54.8M | $18.6M | $94.5M |
| Beneficio Bruto | $36.7M | $44.7M | $68.7M | $89.2M | $102.9M | $166.4M | $174.9M | $134.9M | $211.3M | $118.7M |
| I+D | $1.2M | $1.5M | $1.7M | $3.0M | $4.0M | $6.3M | $7.9M | $11.2M | $13.5M | 0 |
| Generales y Administrativos | $20.4M | $27.2M | $40.6M | $62.9M | $78.3M | $133.0M | $154.6M | $175.8M | $173.2M | $114.7M |
| Gastos Operativos | $32.7M | $37.1M | $56.3M | $82.8M | $95.1M | $166.4M | $198.1M | $139.3M | $204.5M | $114.7M |
| Beneficio Operativo | $4.0M | $7.6M | $12.4M | $6.4M | $7.8M | -$12000 | -$23.1M | -$4.4M | $6.9M | $4.0M |
| EBITDA | $13.9M | $18.1M | $15.7M | $23.0M | $23.4M | $27.0M | $22.6M | $33.3M | $33.2M | $41.1M |
| Gastos por Intereses | $5.9M | $6.9M | $8.5M | $6.0M | $8.9M | $9.8M | $14.8M | $25.1M | $29.3M | $2.3M |
| Beneficio Antes de Impuestos | -$1.9M | $1.1M | -$4.6M | $386000 | -$3.8M | -$7.2M | -$38.9M | -$28.3M | -$19.0M | $10.9M |
| Impuestos | $243000 | $177000 | $337000 | -$177000 | -$2.8M | $623000 | $152000 | -$3.5M | -$5.7M | $5.3M |
| Beneficio Neto | -$2.1M | $902000 | -$6.9M | -$3.0M | -$419000 | -$4.5M | -$17.1M | -$811000 | $113.3M | $17.9M |
| BPA | $-0.27 | $0.12 | $-0.78 | $-0.29 | $-0.03 | $-0.21 | $-0.77 | $-0.94 | $4.84 | $0.75 |
| BPA Diluido | $-0.27 | $0.12 | $-0.74 | $-0.29 | $-0.03 | $-0.22 | $-0.77 | $-0.07 | $4.64 | $0.56 |
| Acciones en Circulación (Diluidas) | $7.8M | $7.8M | $9.4M | $10.5M | $14.9M | $31.7M | $22.2M | $33.2M | $24.4M | $34.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $54.9M | $52.7M | $57.5M | $53.1M |
| Beneficio Bruto | $30.2M | $28.2M | $32.7M | $53.1M |
| Beneficio Operativo | $1.3M | $1.3M | $3.7M | -$892000 |
| EBITDA | $10.9M | $9.0M | $11.5M | $9.0M |
| Beneficio Neto | $3.1M | $484000 | $1.5M | $5.7M |
| BPA | $0.13 | $0.02 | $0.07 | $0.19 |
| BPA Diluido | $0.09 | $0.02 | $0.05 | $0.19 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $3.8M | $955000 | $572000 | $1.1M | $15.6M | $3.6M | $3.5M | $3.1M | $86.5M | $66.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $6.2M | $8.4M | $12.5M | $15.3M | $17.5M | $38.5M | $58.3M | $50.8M | $56.2M | $58.5M |
| Inventario | $1.2M | $1.1M | $930000 | $1.3M | $1.3M | $2.2M | $4.1M | $2.0M | $2.4M | $2.5M |
| Activos Corrientes | $15.6M | $15.7M | $16.6M | $20.6M | $38.0M | $58.1M | $83.8M | $85.5M | $153.4M | $137.6M |
| Inmovilizado Material | $1.6M | $1.4M | $3.0M | $5.0M | $5.3M | $20.4M | $23.3M | $21.9M | $17.6M | $11.8M |
| Fondo de Comercio | $35.1M | $58.5M | $84.0M | $168.3M | $187.0M | $292.2M | $353.6M | $268.0M | $280.7M | $248.5M |
| Activos Intangibles | $47.3M | $63.0M | $69.4M | $122.9M | $126.2M | $213.1M | $248.3M | $221.2M | $221.4M | $184.1M |
| Activos Totales | $100.3M | $140.0M | $175.1M | $349.3M | $403.5M | $651.8M | $770.3M | $884.4M | $730.7M | $638.4M |
| Cuentas por Pagar | $2.0M | $1.6M | $4.1M | $3.4M | $3.8M | $7.9M | $9.3M | $6.4M | $4.9M | $6.2M |
| Deuda a Corto | $5.0M | $4.0M | $5.0M | 0 | 0 | $3.2M | $4.6M | $3.7M | $28.5M | $1.8M |
| Pasivos Corrientes | $20.3M | $20.2M | $26.4M | $35.2M | $38.9M | $96.5M | $111.3M | $93.5M | $164.7M | $70.7M |
| Deuda a Largo | $78.5M | $106.8M | $31.8M | $139.3M | $90.8M | $200.6M | $287.0M | $388.0M | $4.9M | $3.0M |
| Pasivos Totales | $109.8M | $136.8M | $62.9M | $206.9M | $163.4M | $362.2M | $462.6M | $556.1M | $215.3M | $120.7M |
| Reservas | -$30.2M | -$33.0M | $736000 | -$2.3M | -$2.0M | -$6.5M | -$23.6M | -$12.9M | $100.4M | $118.3M |
| Patrimonio Neto | -$9.5M | $3.1M | $39.3M | $80.1M | $155.6M | $204.8M | $218.4M | $236.7M | $379.7M | $389.6M |
| Deuda Total | $83.5M | $110.8M | $36.8M | $139.3M | $90.8M | $215.8M | $305.6M | $400.6M | $38.3M | $7.8M |
| Deuda Neta | $79.8M | $109.9M | $36.2M | $138.2M | $75.2M | $212.1M | $302.1M | $397.5M | -$48.2M | -$58.9M |
| Capital Circulante | -$4.7M | -$4.5M | -$9.9M | -$14.7M | -$920000 | -$38.4M | -$27.4M | -$7.9M | -$11.3M | $66.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $66.7M | $37.5M | $7.1M | $2.6M |
| Activos Totales | $638.4M | $595.9M | $636.4M | $627.0M |
| Pasivos Totales | $120.7M | $112.6M | $198.2M | $226.7M |
| Patrimonio Neto | $389.6M | $358.5M | $317.4M | $280.5M |
| Deuda Total | $7.8M | $7.4M | $85.6M | $118.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$2.1M | $902000 | -$5.0M | $563000 | -$979000 | -$7.8M | -$23.2M | -$2.7M | $175.1M | $17.9M |
| Amortizaciones | $9.9M | $10.1M | $11.8M | $16.6M | $18.2M | $24.4M | $29.4M | $36.5M | $37.4M | $29.8M |
| Compensación en Acciones | 0 | 0 | $1.6M | $6.1M | $10.5M | $20.9M | $26.2M | $27.9M | $26.3M | $18.3M |
| Cambio en Capital Circulante | -$56000 | -$1.2M | -$1.0M | $1.2M | -$1.0M | -$991000 | -$6.7M | -$20.2M | $17.2M | -$53.5M |
| Flujo de Caja Operativo | $10.0M | $7.7M | $18.1M | $26.6M | $23.7M | $46.8M | $45.8M | $37.2M | $48.4M | $5.7M |
| Inversiones (CapEx) | -$2.9M | -$2.1M | -$4.5M | -$3.1M | -$6.0M | -$8.2M | -$12.4M | -$16.4M | -$15.0M | -$1.9M |
| Adquisiciones | -$32.3M | -$44.2M | -$32.4M | -$137.0M | -$27.7M | -$149.5M | -$100.7M | -$102.0M | $416.0M | -$11.0M |
| Recompra de Acciones | 0 | 0 | -$4.6M | -$90.0M | -$10.9M | 0 | 0 | 0 | 0 | -$37.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $7.1M | $5.6M | $13.6M | $23.5M | $17.8M | $38.6M | $33.4M | $20.8M | $33.4M | $3.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $14.0M | $14.1M | $10.0M | $14.3M |
| Inversiones (CapEx) | -$425000 | -$315000 | -$407000 | -$1.3M |
| Flujo de Caja Libre | $13.5M | $13.8M | $9.6M | $13.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.2M | $5.2M | $4.6M | $5.1M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +31.5% | +23.2% | +16.3% | -60.1% | +49.3% | -16.2% | +1.0% | +21.2% | -7.3% |
| Crecimiento Beneficio Neto (anual) | | +143.1% | -864.7% | +55.9% | +86.2% | -963.7% | -283.7% | +95.3% | +14075.5% | -84.2% |
| Crecimiento BPA (anual) | | +144.4% | -750.0% | +62.8% | +89.7% | -600.0% | -266.7% | -22.1% | +614.9% | -84.5% |
| Cambio en Acciones (anual) | | +0.0% | +19.9% | +12.1% | +41.6% | +113.5% | -29.8% | +49.4% | -26.5% | +40.0% |
| Crecimiento FCF (anual) | | -21.0% | +141.3% | +72.8% | -24.4% | +117.1% | -13.4% | -37.7% | +60.9% | -88.8% |
| Margen Bruto | 18.4% | 17.0% | 21.2% | 23.7% | 68.5% | 74.3% | 93.2% | 71.1% | 91.9% | 55.7% |
| Margen Operativo | 2.0% | 2.9% | 3.8% | 1.7% | 5.2% | -0.0% | -12.3% | -2.3% | 3.0% | 1.9% |
| Margen EBITDA | 7.0% | 6.9% | 4.9% | 6.1% | 15.6% | 12.0% | 12.0% | 17.5% | 14.5% | 19.3% |
| Margen Neto | -1.0% | 0.3% | -2.1% | -0.8% | -0.3% | -2.0% | -9.1% | -0.4% | 49.3% | 8.4% |
| Margen FCF | 3.6% | 2.1% | 4.2% | 6.2% | 11.8% | 17.2% | 17.8% | 11.0% | 14.5% | 1.8% |
| Tasa Impositiva Efectiva | -13.1% | 16.4% | -7.3% | -45.9% | 74.1% | -8.6% | -0.4% | 12.4% | 29.8% | 48.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.91 | $0.72 | $1.45 | $2.24 | $1.20 | $1.22 | $1.50 | $0.63 | $1.37 | $0.11 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $7.8M | $7.8M | $8.8M | $10.5M | $14.8M | $21.0M | $22.2M | $23.1M | $23.4M | $23.9M |
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 | 3.18% |
| Rentabilidad sobre capital invertido | 0.66% |
| Rentabilidad sobre activos | 1.71% |
| Margen bruto | 66.06% |
| Margen operativo | 2.46% |
| Margen neto | 4.90% |
Salud financiera
| Deuda / Patrimonio | 0.42 |
| Ratio corriente | 1.21 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -67.96 | 152.92 | -30.47 | -69.38 | -841.67 | -115.29 | -26.01 | -22.49 | 4.40 | 43.28 |
| P/VC | -15.06 | 45.51 | 5.33 | 2.64 | 2.41 | 2.48 | 2.04 | 2.07 | 1.31 | 1.99 |
| P/V | 0.72 | 0.55 | 0.65 | 0.56 | 2.49 | 2.27 | 2.37 | 2.58 | 2.17 | 3.64 |
| Margen Bruto | 18.4% | 17.0% | 21.2% | 23.7% | 68.5% | 74.3% | 93.2% | 71.1% | 91.9% | 55.7% |
| Margen Operativo | 2.0% | 2.9% | 3.8% | 1.7% | 5.2% | -0.0% | -12.3% | -2.3% | 3.0% | 1.9% |
| Margen Neto | -1.0% | 0.3% | -2.1% | -0.8% | -0.3% | -2.0% | -9.1% | -0.4% | 49.3% | 8.4% |