Estados financieros detallados de indie Semiconductor, Inc. (INDI): 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
indie Semiconductor, Inc. registró ingresos de $217.4M en el último ejercicio fiscal, con un CAGR de 5 años del 57.2%.
Márgenes de los últimos 12 meses: margen bruto 21.5%, margen operativo -62.7%, margen neto -65.2%.
Al precio actual de $3.02, INDI presenta beneficios negativos (P/E no significativo) y un ROE del -44.79%. La capitalización bursátil es de $638M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $28.7M | $22.7M | $22.6M | $48.4M | $110.8M | $223.2M | $216.7M | $217.4M |
| Coste de Ventas | $19.1M | $35.9M | $13.0M | $28.7M | $60.5M | $278.3M | $126.4M | $129.8M |
| Beneficio Bruto | $9.6M | -$13.2M | $9.6M | $19.7M | $50.3M | -$55.1M | $90.3M | $87.6M |
| I+D | $13.5M | $20.2M | $22.0M | $58.1M | $121.2M | $154.5M | $175.1M | $154.1M |
| Generales y Administrativos | $5.0M | 0 | $6.8M | $36.4M | $48.2M | 0 | $80.9M | $77.7M |
| Gastos Operativos | $18.4M | $5.7M | $28.8M | $94.5M | $169.4M | $80.3M | $260.4M | $231.8M |
| Beneficio Operativo | -$8.5M | -$18.9M | -$19.2M | -$74.8M | -$119.1M | -$135.4M | -$170.1M | -$144.2M |
| EBITDA | -$6.7M | -$14.9M | -$93.5M | -$111.7M | -$35.7M | -$89.9M | -$93.9M | -$102.0M |
| Gastos por Intereses | 0 | 0 | $2.2M | $1.2M | $1.7M | $8.7M | $9.3M | $17.6M |
| Beneficio Antes de Impuestos | -$10.6M | -$20.9M | -$98.3M | -$118.9M | -$53.8M | -$133.4M | -$146.1M | -$154.7M |
| Impuestos | $3000 | $11000 | $29000 | -$327000 | -$1.0M | -$4.5M | -$1.9M | -$3.0M |
| Beneficio Neto | -$10.2M | -$20.5M | -$97.5M | -$88.0M | -$43.4M | -$117.6M | -$132.6M | -$144.0M |
| BPA | $-0.10 | $-0.18 | $-0.78 | $-1.26 | $-0.37 | $-0.81 | $-0.76 | $-0.72 |
| BPA Diluido | $-0.10 | $-0.18 | $-0.78 | $-1.26 | $-0.37 | $-0.81 | $-0.76 | $-0.72 |
| Acciones en Circulación (Diluidas) | $106.2M | $111.1M | $101.5M | $70.0M | $118.7M | $145.2M | $175.0M | $199.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $53.7M | $58.0M | $55.5M | $64.0M |
| Beneficio Bruto | -$16.5M | $22.1M | $21.1M | $23.1M |
| Beneficio Operativo | -$38.3M | -$32.6M | -$38.9M | -$35.1M |
| EBITDA | -$26.5M | -$21.5M | -$33.7M | -$26.0M |
| Beneficio Neto | -$38.3M | -$32.1M | -$43.2M | -$37.1M |
| BPA | $-0.19 | $-0.16 | $-0.22 | $-0.17 |
| BPA Diluido | $-0.19 | $-0.16 | $-0.22 | $-0.17 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $24.2M | $497549 | $18.7M | $219.1M | $321.6M | $151.7M | $274.2M | $155.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $5.1M | $4.6M | $6.0M | $13.8M | $26.4M | $72.1M | $52.0M | $57.5M |
| Inventario | $4.7M | $4.3M | $2.9M | $9.1M | $13.3M | $33.1M | $49.9M | $48.6M |
| Activos Corrientes | $34.4M | $928843 | $30.0M | $248.0M | $373.9M | $271.8M | $408.7M | $285.8M |
| Inmovilizado Material | $1.6M | $2.4M | $2.2M | $11.1M | $27.9M | $40.8M | $50.4M | $57.7M |
| Fondo de Comercio | 0 | 0 | $1.7M | $113.6M | $136.5M | $295.1M | $266.4M | $292.6M |
| Activos Intangibles | $5.3M | $2.3M | $1.1M | $96.3M | $63.1M | $208.1M | $208.9M | $195.9M |
| Activos Totales | $41.5M | $348.4M | $35.1M | $469.3M | $603.4M | $818.9M | $941.4M | $840.8M |
| Cuentas por Pagar | $3.0M | $4.7M | $4.6M | $5.4M | $14.2M | $18.4M | $28.3M | $23.1M |
| Deuda a Corto | $2.3M | $4.2M | $8.5M | $2.3M | $15.7M | $4.1M | $12.2M | $13.6M |
| Pasivos Corrientes | $8.0M | $23.4M | $122.2M | $33.7M | $64.0M | $138.9M | $84.9M | $77.8M |
| Deuda a Largo | $18.0M | $14.8M | $12.3M | $5.6M | $155.7M | $156.7M | $369.1M | $352.9M |
| Pasivos Totales | $29.4M | $35.5M | $136.6M | $177.4M | $289.0M | $341.9M | $496.0M | $458.1M |
| Reservas | -$31.3M | -$34.6M | -$153.3M | -$200.4M | -$243.8M | -$361.4M | -$494.0M | -$638.0M |
| Patrimonio Neto | $10.5M | $312.9M | -$110.3M | $313.0M | $312.8M | $446.1M | $417.9M | $356.8M |
| Deuda Total | $20.3M | $19.0M | $20.8M | $7.9M | $183.5M | $174.3M | $398.6M | $379.5M |
| Deuda Neta | -$3.8M | $18.5M | $2.1M | -$211.2M | -$138.2M | $22.7M | $124.3M | $223.8M |
| Capital Circulante | $26.4M | -$22.5M | -$92.2M | $214.3M | $309.9M | $132.9M | $323.9M | $207.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $171.2M | $145.5M | $184.7M | $139.0M |
| Activos Totales | $855.1M | $840.8M | $869.6M | $841.5M |
| Pasivos Totales | $462.2M | $458.1M | $520.6M | $519.4M |
| Patrimonio Neto | $369.2M | $356.8M | $324.6M | $294.7M |
| Deuda Total | $370.5M | $379.5M | $430.9M | $431.3M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$10.2M | -$20.5M | -$98.4M | -$118.6M | -$52.8M | -$117.6M | -$144.2M | -$150.7M |
| Amortizaciones | $1.8M | $4.2M | $2.7M | $6.0M | $16.8M | $34.6M | $43.1M | $43.6M |
| Compensación en Acciones | 0 | 0 | 0 | $22.9M | $41.9M | $43.7M | $67.2M | $65.1M |
| Cambio en Capital Circulante | -$5.6M | -$1.3M | -$4.4M | -$9.2M | -$18.1M | -$58.1M | $1.1M | -$12.2M |
| Flujo de Caja Operativo | -$14.7M | -$14.9M | -$21.2M | -$55.8M | -$76.7M | -$104.4M | -$58.6M | -$57.1M |
| Inversiones (CapEx) | -$842000 | -$1.7M | -$771000 | -$4.1M | -$7.6M | -$12.8M | -$14.3M | -$14.3M |
| Adquisiciones | 0 | 0 | $6.2M | -$80.3M | -$8.7M | -$95.0M | -$3.2M | -$17.7M |
| Recompra de Acciones | 0 | 0 | 0 | -$900000 | -$7.4M | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$15.6M | -$16.5M | -$22.0M | -$59.9M | -$84.3M | -$117.1M | -$72.9M | -$71.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$6.2M | -$14.3M | -$22.1M | -$28.9M |
| Inversiones (CapEx) | -$4.2M | -$1.7M | -$3.2M | -$3.1M |
| Flujo de Caja Libre | -$10.3M | -$16.0M | -$25.3M | -$32.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | $19.7M | $17.3M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -20.9% | -0.4% | +114.1% | +128.9% | +101.4% | -2.9% | +0.3% |
| Crecimiento Beneficio Neto (anual) | | -100.4% | -376.7% | +9.7% | +50.7% | -171.0% | -12.7% | -8.6% |
| Crecimiento BPA (anual) | | -87.3% | -333.3% | -61.5% | +70.6% | -118.9% | +6.2% | +5.3% |
| Cambio en Acciones (anual) | | +4.6% | -8.7% | -31.0% | +69.5% | +22.4% | +20.6% | +13.9% |
| Crecimiento FCF (anual) | | -6.1% | -33.0% | -172.4% | -40.8% | -38.9% | +37.7% | +2.1% |
| Margen Bruto | 33.5% | -58.1% | 42.3% | 40.7% | 45.4% | -24.7% | 41.7% | 40.3% |
| Margen Operativo | -29.5% | -83.3% | -85.1% | -154.5% | -107.5% | -60.7% | -78.5% | -66.3% |
| Margen EBITDA | -23.2% | -65.7% | -413.5% | -230.8% | -32.2% | -40.3% | -43.4% | -46.9% |
| Margen Neto | -35.5% | -90.1% | -431.2% | -181.9% | -39.2% | -52.7% | -61.2% | -66.2% |
| Margen FCF | -54.2% | -72.8% | -97.3% | -123.7% | -76.1% | -52.5% | -33.7% | -32.9% |
| Tasa Impositiva Efectiva | -0.0% | -0.1% | -0.0% | 0.3% | 1.9% | 3.4% | 1.3% | 1.9% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.15 | $-0.15 | $-0.22 | $-0.86 | $-0.71 | $-0.81 | $-0.42 | $-0.36 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $106.2M | $111.1M | $101.5M | $70.0M | $118.7M | $145.2M | $175.0M | $199.3M |
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 | -44.79% |
| Rentabilidad sobre capital invertido | -18.27% |
| Rentabilidad sobre activos | -17.90% |
| Margen bruto | 21.51% |
| Margen operativo | -62.69% |
| Margen neto | -65.18% |
Salud financiera
| Deuda / Patrimonio | 1.46 |
| Ratio corriente | 3.65 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -0.15 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -101.98 | -55.28 | -16.95 | -9.52 | -15.76 | -10.01 | -5.33 | -4.90 |
| P/VC | 98.73 | 3.53 | -12.16 | 2.68 | 2.21 | 2.64 | 1.70 | 1.97 |
| P/V | 36.22 | 48.66 | 59.34 | 17.34 | 6.24 | 5.28 | 3.27 | 3.24 |
| Margen Bruto | 33.5% | -58.1% | 42.3% | 40.7% | 45.4% | -24.7% | 41.7% | 40.3% |
| Margen Operativo | -29.5% | -83.3% | -85.1% | -154.5% | -107.5% | -60.7% | -78.5% | -66.3% |
| Margen Neto | -35.5% | -90.1% | -431.2% | -181.9% | -39.2% | -52.7% | -61.2% | -66.2% |