Estados financieros detallados de Innodata Inc. (INOD): 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
Innodata Inc. registró ingresos de $251.7M en el último ejercicio fiscal, con un CAGR de 5 años del 34.0%. El beneficio neto alcanzó $32.2M, con un CAGR a 5 años del 120.5%.
Márgenes de los últimos 12 meses: margen bruto 42.6%, margen operativo 17.0%, margen neto 14.7%. El flujo de caja libre creció a un CAGR del 53.0% en 5 años.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $63.1M | $60.9M | $57.4M | $55.9M | $58.2M | $69.8M | $79.0M | $86.8M | $170.5M | $251.7M |
| Coste de Ventas | $47.0M | $45.3M | $38.9M | $37.2M | $38.4M | $43.5M | $51.3M | $54.9M | $103.5M | $151.8M |
| Beneficio Bruto | $16.1M | $15.7M | $18.5M | $18.7M | $19.8M | $26.3M | $27.7M | $31.9M | $66.9M | $99.8M |
| I+D | 0 | $100000 | $100000 | 0 | 0 | 0 | 0 | 0 | $3.5M | 0 |
| Generales y Administrativos | $19.3M | $20.2M | $15.8M | $19.5M | $18.7M | $27.9M | $37.9M | $31.0M | $42.7M | $59.6M |
| Gastos Operativos | $19.3M | $20.3M | $15.8M | $19.5M | $18.7M | $27.8M | $37.9M | $31.0M | $42.7M | $59.6M |
| Beneficio Operativo | -$3.2M | -$4.6M | $2.7M | -$803000 | $1.2M | -$1.5M | -$10.3M | $939000 | $24.2M | $40.2M |
| EBITDA | -$1.5M | -$1.7M | $5.0M | $1.7M | $3.4M | $1.2M | -$6.6M | $5.0M | $30.3M | $48.3M |
| Gastos por Intereses | $63000 | 0 | $33000 | $120000 | $135000 | 0 | 0 | $179000 | 0 | 0 |
| Beneficio Antes de Impuestos | -$4.8M | -$5.2M | $1.6M | -$1.1M | $1.0M | -$963000 | -$10.5M | $139000 | $24.5M | $41.4M |
| Impuestos | $1.1M | $185000 | $1.8M | $1.1M | $401000 | $842000 | $1.5M | $1.0M | -$4.2M | $9.2M |
| Beneficio Neto | -$5.5M | -$5.1M | -$253000 | -$2.1M | $617000 | -$1.7M | -$11.9M | -$908000 | $28.7M | $32.2M |
| BPA | $-0.22 | $-0.20 | $-0.01 | $-0.06 | $0.03 | $-0.07 | $-0.44 | $-0.03 | $0.98 | $1.01 |
| BPA Diluido | $-0.22 | $-0.20 | $-0.01 | $-0.06 | $0.02 | $-0.07 | $-0.44 | $-0.03 | $0.89 | $0.92 |
| Acciones en Circulación (Diluidas) | $25.5M | $25.8M | $25.9M | $25.8M | $25.6M | $26.6M | $27.3M | $28.1M | $32.2M | $35.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $62.5M | $72.4M | $90.1M | $92.1M |
| Beneficio Bruto | $25.9M | $27.8M | $39.1M | $42.5M |
| Beneficio Operativo | $10.8M | $11.0M | $16.2M | $15.9M |
| EBITDA | $12.9M | $13.3M | $19.5M | $22.0M |
| Beneficio Neto | $8.3M | $8.8M | $14.9M | $14.4M |
| BPA | $0.26 | $0.28 | $0.46 | $0.43 |
| BPA Diluido | $0.24 | $0.25 | $0.42 | $0.41 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $14.2M | $11.4M | $10.9M | $10.9M | $17.6M | $18.9M | $9.8M | $13.8M | $46.9M | $82.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | $507000 | $14000 | $14000 | 0 |
| Cuentas por Cobrar | $10.0M | $10.3M | $10.6M | $9.7M | $10.0M | $11.4M | $9.5M | $14.3M | $28.0M | $46.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $27.2M | $25.3M | $27.3M | $24.0M | $31.9M | $34.0M | $23.7M | $32.1M | $81.0M | $135.4M |
| Inmovilizado Material | $5.4M | $7.2M | $6.8M | $13.9M | $8.5M | $8.6M | $6.8M | $7.3M | $8.3M | $12.1M |
| Fondo de Comercio | $2.7M | $2.8M | $2.0M | $2.1M | $2.1M | $2.1M | $2.0M | $2.1M | $2.0M | $2.1M |
| Activos Intangibles | $8.2M | $7.6M | $6.3M | $5.5M | $10.0M | $10.3M | $12.5M | $13.8M | $13.4M | $14.0M |
| Activos Totales | $47.6M | $47.9M | $46.1M | $49.5M | $57.3M | $59.2M | $48.0M | $59.4M | $113.4M | $168.6M |
| Cuentas por Pagar | $1.0M | $1.9M | $1.8M | $1.4M | $1.4M | $1.8M | $2.6M | $2.7M | $4.6M | $9.6M |
| Deuda a Corto | $1.1M | $3.3M | $1.5M | $912000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $12.8M | $15.6M | $14.3M | $15.8M | $18.3M | $21.3M | $20.8M | $22.9M | $39.5M | $50.5M |
| Deuda a Largo | $3.9M | $4.5M | $4.1M | $4.5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $17.4M | $20.7M | $18.9M | $27.4M | $31.0M | $32.8M | $30.0M | $34.4M | $50.1M | $61.5M |
| Reservas | $12.4M | $7.3M | $7.3M | $4.2M | $4.8M | $3.2M | -$8.8M | -$9.7M | $19.0M | $51.2M |
| Patrimonio Neto | $33.8M | $31.1M | $30.6M | $25.5M | $29.6M | $29.9M | $18.8M | $25.7M | $63.5M | $107.1M |
| Deuda Total | $5.0M | $6.6M | $5.6M | $13.3M | $7.3M | $6.3M | $4.7M | $5.5M | $4.7M | $4.4M |
| Deuda Neta | -$9.1M | -$4.8M | -$5.3M | $2.4M | -$10.3M | -$12.6M | -$5.6M | -$8.3M | -$42.2M | -$77.8M |
| Capital Circulante | $14.4M | $9.7M | $13.0M | $8.2M | $13.5M | $12.7M | $2.9M | $9.1M | $41.5M | $84.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $73.9M | $82.2M | $117.4M | $240.3M |
| Activos Totales | $152.9M | $168.6M | $210.4M | $356.7M |
| Pasivos Totales | $55.7M | $61.5M | $82.2M | $197.1M |
| Patrimonio Neto | $97.3M | $107.1M | $128.3M | $159.5M |
| Deuda Total | $4.7M | $4.4M | $4.1M | $15.0M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$5.9M | -$5.4M | $11000 | -$2.1M | $617000 | -$1.7M | -$12.0M | -$889000 | $28.7M | $32.2M |
| Amortizaciones | $3.2M | $3.7M | $3.4M | $2.7M | $2.3M | $2.9M | $3.9M | $4.7M | $5.8M | $6.9M |
| Compensación en Acciones | $1.2M | $695000 | $796000 | 0 | 0 | 0 | $3.3M | $4.0M | $4.0M | $11.1M |
| Cambio en Capital Circulante | -$2.3M | $1.9M | -$1.9M | $2.9M | $1.6M | $2.3M | $1.9M | -$3.1M | $114000 | -$9.0M |
| Flujo de Caja Operativo | -$2.7M | $738000 | $3.6M | $4.3M | $5.7M | $5.2M | -$1.2M | $5.9M | $35.0M | $46.8M |
| Inversiones (CapEx) | -$2.7M | -$3.4M | -$2.0M | -$1.7M | -$1.4M | -$4.4M | -$6.5M | -$5.6M | -$7.7M | -$11.1M |
| Adquisiciones | -$4.2M | 0 | 0 | 0 | $39000 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$134000 | 0 | 0 | -$1.8M | 0 | 0 | 0 | 0 | 0 | -$3.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$5.5M | -$2.7M | $1.6M | $2.6M | $4.2M | $783000 | -$7.7M | $339000 | $27.3M | $35.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $18.8M | $12.9M | $37.3M | $164.4M |
| Inversiones (CapEx) | -$4.2M | -$2.8M | -$2.4M | -$5.3M |
| Flujo de Caja Libre | $14.5M | $10.1M | $34.8M | $159.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.7M | $2.8M | $5.9M | $13.1M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -3.4% | -5.8% | -2.7% | +4.3% | +19.8% | +13.3% | +9.8% | +96.4% | +47.6% |
| Crecimiento Beneficio Neto (anual) | | +8.5% | +95.0% | -746.6% | +128.8% | -371.2% | -613.4% | +92.4% | +3256.4% | +12.3% |
| Crecimiento BPA (anual) | | +9.1% | +95.0% | -528.0% | +140.0% | -370.1% | -549.0% | +93.2% | +3366.7% | +3.1% |
| Cambio en Acciones (anual) | | +1.1% | +0.2% | -0.4% | -0.8% | +4.1% | +2.4% | +3.1% | +14.4% | +8.9% |
| Crecimiento FCF (anual) | | +51.2% | +158.8% | +66.3% | +62.5% | -81.6% | -1088.8% | +104.4% | +7945.4% | +30.7% |
| Margen Bruto | 25.5% | 25.7% | 32.3% | 33.4% | 34.1% | 37.6% | 35.0% | 36.8% | 39.3% | 39.7% |
| Margen Operativo | -5.1% | -7.6% | 4.7% | -1.4% | 2.0% | -2.2% | -13.0% | 1.1% | 14.2% | 16.0% |
| Margen EBITDA | -2.4% | -2.8% | 8.7% | 3.1% | 5.9% | 1.7% | -8.3% | 5.8% | 17.8% | 19.2% |
| Margen Neto | -8.8% | -8.3% | -0.4% | -3.8% | 1.1% | -2.4% | -15.1% | -1.0% | 16.8% | 12.8% |
| Margen FCF | -8.7% | -4.4% | 2.7% | 4.7% | 7.3% | 1.1% | -9.8% | 0.4% | 16.0% | 14.2% |
| Tasa Impositiva Efectiva | -23.5% | -3.6% | 115.7% | -102.2% | 38.4% | -87.4% | -14.5% | 739.6% | -17.1% | 22.3% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.21 | $-0.10 | $0.06 | $0.10 | $0.17 | $0.03 | $-0.28 | $0.01 | $0.85 | $1.02 |
| 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) | $25.1M | $25.3M | $25.3M | $25.8M | $24.6M | $26.6M | $27.3M | $28.1M | $29.2M | $31.8M |
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
| Margen bruto | 42.63% |
| Margen operativo | 16.97% |
| Margen neto | 14.66% |
Salud financiera
| Deuda / Patrimonio | 0.09 |
| Ratio corriente | 1.73 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -11.14 | -6.80 | -150.00 | -18.15 | 211.16 | -87.32 | -6.74 | -271.33 | 40.33 | 50.45 |
| P/VC | 1.82 | 1.10 | 1.24 | 1.15 | 4.40 | 5.27 | 4.31 | 8.91 | 18.16 | 15.14 |
| P/V | 0.98 | 0.56 | 0.66 | 0.53 | 2.24 | 2.26 | 1.02 | 2.64 | 6.76 | 6.44 |
| Margen Bruto | 25.5% | 25.7% | 32.3% | 33.4% | 34.1% | 37.6% | 35.0% | 36.8% | 39.3% | 39.7% |
| Margen Operativo | -5.1% | -7.6% | 4.7% | -1.4% | 2.0% | -2.2% | -13.0% | 1.1% | 14.2% | 16.0% |
| Margen Neto | -8.8% | -8.3% | -0.4% | -3.8% | 1.1% | -2.4% | -15.1% | -1.0% | 16.8% | 12.8% |