Estados financieros detallados de Immersion Corporation (IMMR): 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
Immersion Corporation registró ingresos de $1.73B en el último ejercicio fiscal, con un CAGR de 5 años del 124.3%. El beneficio neto alcanzó $4.5M, con un CAGR a 5 años del -3.5%.
Márgenes de los últimos 12 meses: margen bruto 20.8%, margen operativo 1.5%, margen neto 0.3%.
Al precio actual de $7.12, IMMR cotiza a un P/E de 50.86 y un ROE del 1.51%. La capitalización bursátil es de $236M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 |
|---|
| Ingresos | $57.1M | $35.0M | $111.0M | $36.0M | $30.5M | $35.1M | $38.5M | $33.9M | $1.56B | $1.73B |
| Coste de Ventas | $197000 | $197000 | $218000 | $170000 | $168000 | $88000 | $4000 | 0 | $75.3M | $1.41B |
| Beneficio Bruto | $56.9M | $34.8M | $110.8M | $35.8M | $30.3M | $35.0M | $38.5M | $33.9M | $1.48B | $325.1M |
| I+D | $13.4M | $11.8M | $9.7M | $7.8M | $5.0M | $4.2M | $1.4M | $281000 | 0 | 0 |
| Generales y Administrativos | $58.8M | $66.9M | $47.9M | $49.4M | $23.1M | $13.1M | $12.7M | $15.7M | $1.33B | $296.9M |
| Gastos Operativos | $72.2M | $80.2M | $57.7M | $57.2M | $28.1M | $17.2M | $14.0M | $16.0M | $1.36B | $296.9M |
| Beneficio Operativo | -$15.3M | -$45.4M | $53.1M | -$21.5M | $2.2M | $17.8M | $24.4M | $17.9M | $117.9M | $28.1M |
| EBITDA | -$14.4M | -$42.8M | $54.0M | -$19.3M | $4.2M | $17.4M | $27.1M | $43.0M | $168.9M | $80.8M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $9.6M | $12.9M |
| Beneficio Antes de Impuestos | -$14.5M | -$44.8M | $54.7M | -$19.6M | $3.2M | $17.3M | $27.0M | $42.9M | $119.3M | $26.0M |
| Impuestos | $25.5M | $480000 | $392000 | $471000 | -$2.2M | $4.8M | -$3.7M | $8.9M | $25.7M | $16.8M |
| Beneficio Neto | -$39.4M | -$45.3M | $54.3M | -$20.0M | $5.4M | $12.5M | $30.7M | $34.0M | $64.3M | $4.5M |
| BPA | $-1.37 | $-1.55 | $1.78 | $-0.64 | $0.19 | $0.40 | $0.92 | $1.05 | $4.19 | $0.14 |
| BPA Diluido | $-1.37 | $-1.55 | $1.73 | $-0.64 | $0.19 | $0.39 | $0.92 | $1.04 | $4.11 | $0.14 |
| Acciones en Circulación (Diluidas) | $28.8M | $29.2M | $31.4M | $31.5M | $28.5M | $31.8M | $33.5M | $32.5M | $33.1M | $32.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Ingresos | $650.2M | $518.5M | $270.0M | $294.4M |
| Beneficio Bruto | $135.1M | $92.9M | $73.9M | $50.2M |
| Beneficio Operativo | $44.4M | $5.0M | $147000 | -$20.6M |
| EBITDA | $55.1M | $20.1M | $11.1M | -$10.4M |
| Beneficio Neto | $12.0M | -$10.3M | $3.7M | $4.9M |
| BPA | $0.37 | $-0.31 | $0.11 | $0.17 |
| BPA Diluido | $0.36 | $-0.31 | $0.11 | $0.17 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $56.9M | $24.6M | $111.0M | $86.5M | $59.5M | $51.5M | $48.8M | $56.1M | $77.7M | $129.8M |
| Inversiones a Corto | $32.9M | $21.9M | $13.9M | $3.0M | 0 | $86.4M | $100.9M | $104.3M | $76.2M | $48.1M |
| Cuentas por Cobrar | $1.4M | $806000 | $1.1M | $3.4M | $13.8M | $14.4M | $8.9M | $10.0M | $365.1M | $418.8M |
| Inventario | 0 | 0 | 0 | 0 | 0 | $13.2M | 0 | 0 | $367.9M | $373.1M |
| Activos Corrientes | $94.0M | $48.1M | $135.8M | $107.0M | $74.3M | $153.3M | $160.3M | $172.4M | $926.0M | $1.01B |
| Inmovilizado Material | $4.0M | $3.1M | $2.3M | $1.2M | $209000 | $444000 | $293000 | $247000 | $251.3M | $76.7M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $10.1M | $69.2M |
| Activos Intangibles | $365000 | $344000 | 0 | 0 | 0 | $257000 | 0 | 0 | $92.5M | $88.7M |
| Activos Totales | $103.8M | $52.0M | $146.0M | $124.8M | $96.1M | $175.5M | $190.1M | $215.7M | $1.37B | $1.43B |
| Cuentas por Pagar | $6.0M | $6.6M | $3.6M | $809000 | $149000 | $2000 | $86000 | $47000 | $303.6M | $319.3M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $74.5M | 0 |
| Pasivos Corrientes | $21.0M | $19.1M | $15.3M | $11.8M | $8.8M | $16.6M | $17.9M | $19.3M | $538.6M | $554.0M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $141.2M | $138.4M |
| Pasivos Totales | $48.4M | $42.3M | $46.3M | $41.1M | $32.1M | $34.2M | $32.4M | $32.6M | $804.2M | $870.7M |
| Reservas | -$119.3M | -$171.6M | -$98.5M | -$118.6M | -$113.2M | -$100.7M | -$70.0M | -$36.0M | $41.7M | $30.0M |
| Patrimonio Neto | $55.3M | $9.7M | $99.7M | $83.8M | $64.0M | $141.3M | $157.7M | $183.1M | $319.2M | $295.4M |
| Deuda Total | 0 | 0 | 0 | $1.1M | $1.4M | $1.1M | $486000 | $39000 | $322.1M | $310.8M |
| Deuda Neta | -$89.8M | -$46.5M | -$124.9M | -$88.3M | -$58.1M | -$136.8M | -$149.3M | -$160.3M | $168.2M | $132.8M |
| Capital Circulante | $73.0M | $29.0M | $120.5M | $95.1M | $65.6M | $136.7M | $142.4M | $153.1M | $387.4M | $459.4M |
Balance (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Caja y Equivalentes | $126.9M | $129.8M | $155.7M | $186.2M |
| Activos Totales | $1.38B | $1.43B | $1.12B | $1.18B |
| Pasivos Totales | $803.2M | $870.7M | $552.0M | $617.3M |
| Patrimonio Neto | $306.9M | $295.4M | $297.2M | $299.0M |
| Deuda Total | $299.6M | $310.8M | $222.7M | $149.3M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|
| Beneficio Neto | -$40.0M | -$45.3M | $54.3M | -$20.0M | $5.4M | $12.5M | $30.7M | $34.0M | $93.6M | $3.0M |
| Amortizaciones | $910000 | $968000 | $855000 | $2.2M | $1.9M | $762000 | $812000 | $67000 | $35.4M | $31.6M |
| Compensación en Acciones | $6.1M | $6.1M | $8.7M | $5.5M | $4.8M | $2.3M | $3.6M | $3.4M | $15.3M | $9.0M |
| Cambio en Capital Circulante | $55.0M | -$5.6M | $6.0M | -$23.2M | -$9.6M | -$2.4M | $7.0M | -$4.2M | -$207.2M | -$69.6M |
| Flujo de Caja Operativo | $22.0M | -$43.8M | $69.9M | -$34.1M | $22000 | $17.4M | $40.1M | $20.6M | -$57.6M | -$24.8M |
| Inversiones (CapEx) | -$343000 | -$125000 | -$74000 | -$150000 | -$47000 | -$335000 | -$30000 | 0 | -$11.2M | -$11.8M |
| Adquisiciones | 0 | 0 | 0 | -$11.1M | 0 | -$5.4M | $4000 | 0 | -$31.4M | 0 |
| Recompra de Acciones | -$729000 | -$328000 | $218000 | -$2.7M | -$30.6M | 0 | -$13.2M | -$8.3M | -$2.4M | -$2.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$7.4M | -$12.9M | -$5.5M |
| Flujo de Caja Libre | $21.7M | -$44.0M | $69.8M | -$34.2M | -$25000 | $17.1M | $40.1M | $20.6M | -$68.8M | -$36.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q4 | 2026-Q1 | 2026-Q2 | 2026-Q3 |
|---|
| Flujo de Caja Operativo | $70.6M | -$33.8M | $83.8M | -$43.6M |
| Inversiones (CapEx) | -$4.3M | -$3.7M | -$4.4M | -$3.5M |
| Flujo de Caja Libre | $66.3M | -$37.5M | $79.4M | -$47.1M |
| Dividendos Pagados | -$3.0M | -$2.5M | -$2.5M | -$2.5M |
| Compensación en Acciones | $2.7M | $1.7M | 0 | $2.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | -38.7% | +217.0% | -67.6% | -15.3% | +15.2% | +9.6% | -11.8% | +4487.0% | +11.2% |
| Crecimiento Beneficio Neto (anual) | | -15.0% | +220.0% | -136.9% | +126.9% | +131.1% | +145.6% | +10.8% | +89.2% | -93.0% |
| Crecimiento BPA (anual) | | -13.1% | +214.8% | -136.0% | +129.7% | +110.5% | +130.0% | +14.1% | +299.0% | -96.7% |
| Cambio en Acciones (anual) | | +1.5% | +7.6% | +0.4% | -9.7% | +11.6% | +5.5% | -2.9% | +1.6% | -0.4% |
| Crecimiento FCF (anual) | | -302.6% | +258.9% | -149.0% | +99.9% | +68556.0% | +134.4% | -48.6% | -434.0% | +46.9% |
| Margen Bruto | 99.7% | 99.4% | 99.8% | 99.5% | 99.4% | 99.7% | 100.0% | 100.0% | 95.2% | 18.8% |
| Margen Operativo | -26.7% | -129.7% | 47.8% | -59.7% | 7.3% | 50.7% | 63.5% | 52.9% | 7.6% | 1.6% |
| Margen EBITDA | -25.1% | -122.3% | 48.6% | -53.6% | 13.6% | 49.6% | 70.5% | 126.7% | 10.9% | 4.7% |
| Margen Neto | -69.0% | -129.4% | 49.0% | -55.8% | 17.7% | 35.6% | 79.7% | 100.2% | 4.1% | 0.3% |
| Margen FCF | 38.0% | -125.5% | 62.9% | -95.3% | -0.1% | 48.8% | 104.3% | 60.7% | -4.4% | -2.1% |
| Tasa Impositiva Efectiva | -175.9% | -1.1% | 0.7% | -2.4% | -71.0% | 27.8% | -13.7% | 20.8% | 21.6% | 64.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2026 |
|---|
| FCF por Acción | $0.75 | $-1.51 | $2.22 | $-1.09 | $-0.00 | $0.54 | $1.20 | $0.63 | $-2.08 | $-1.11 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.23 | $0.39 | $0.17 |
| Acciones en Circulación (Básicas) | $28.8M | $29.2M | $30.5M | $31.5M | $28.1M | $31.5M | $33.3M | $32.2M | $32.3M | $32.9M |
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 | 1.51% |
| Rentabilidad sobre capital invertido | 1.03% |
| Rentabilidad sobre activos | 0.40% |
| Margen bruto | 20.82% |
| Margen operativo | 1.50% |
| Margen neto | 0.26% |
Salud financiera
| Deuda / Patrimonio | 0.75 |
| Ratio corriente | 2.29 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | 2026 |
|---|
| P/E | -7.76 | -4.55 | 5.03 | -11.61 | 59.42 | 14.27 | 7.64 | 6.72 | 2.00 | 48.00 |
| P/VC | 5.52 | 21.33 | 2.74 | 2.80 | 4.96 | 1.27 | 1.48 | 1.24 | 0.85 | 0.75 |
| P/V | 5.36 | 5.88 | 2.46 | 6.52 | 10.42 | 5.12 | 6.08 | 6.71 | 0.17 | 0.13 |
| Margen Bruto | 99.7% | 99.4% | 99.8% | 99.5% | 99.4% | 99.7% | 100.0% | 100.0% | 95.2% | 18.8% |
| Margen Operativo | -26.7% | -129.7% | 47.8% | -59.7% | 7.3% | 50.7% | 63.5% | 52.9% | 7.6% | 1.6% |
| Margen Neto | -69.0% | -129.4% | 49.0% | -55.8% | 17.7% | 35.6% | 79.7% | 100.2% | 4.1% | 0.3% |