Estados financieros detallados de Identiv, Inc. (INVE): 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
Identiv, Inc. registró ingresos de $21.5M en el último ejercicio fiscal, con un CAGR de 5 años del -24.4%.
Márgenes de los últimos 12 meses: margen bruto 15.9%, margen operativo -80.5%, margen neto -63.8%.
Al precio actual de $2.56, INVE presenta beneficios negativos (P/E no significativo) y un ROE del -11.17%. La capitalización bursátil es de $61M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $56.2M | $60.2M | $78.1M | $83.8M | $86.9M | $103.8M | $112.9M | $43.4M | $26.6M | $21.5M |
| Coste de Ventas | $32.4M | $38.1M | $44.8M | $47.1M | $53.2M | $66.7M | $72.0M | $37.4M | $26.3M | $20.2M |
| Beneficio Bruto | $23.7M | $22.2M | $33.3M | $36.7M | $33.7M | $37.1M | $40.9M | $6.0M | $340000 | $1.3M |
| I+D | $6.5M | $6.1M | $7.2M | $8.6M | $9.8M | $8.7M | $9.9M | $4.4M | $3.9M | $3.3M |
| Generales y Administrativos | $25.3M | $20.7M | $27.2M | $27.6M | $25.9M | $28.9M | $31.2M | $15.0M | $23.9M | $18.7M |
| Gastos Operativos | $31.9M | $26.8M | $34.5M | $36.8M | $37.1M | $38.4M | $41.3M | $19.5M | $28.3M | $21.9M |
| Beneficio Operativo | -$11.2M | -$4.6M | -$1.9M | -$109000 | -$3.4M | -$1.3M | -$333000 | -$13.5M | -$28.0M | -$20.6M |
| EBITDA | -$8.0M | -$3.0M | $137000 | $3.7M | -$257000 | $4.1M | $2.1M | -$10.7M | -$24.6M | -$16.2M |
| Gastos por Intereses | $2.4M | $2.6M | $1.5M | $917000 | $1.5M | $483000 | $143000 | $427000 | 0 | 0 |
| Beneficio Antes de Impuestos | -$13.6M | -$8.4M | -$4.5M | -$825000 | -$5.0M | $1.6M | -$291000 | -$13.8M | -$25.8M | -$18.3M |
| Impuestos | $132000 | -$214000 | $155000 | $326000 | $73000 | $28000 | $101000 | $65000 | $90000 | -$268000 |
| Beneficio Neto | -$13.7M | -$8.1M | -$4.7M | -$1.2M | -$5.1M | $1.6M | -$392000 | -$5.5M | $74.8M | -$18.0M |
| BPA | $-1.25 | $-0.61 | $-0.30 | $-0.07 | $-0.34 | $0.02 | $-0.07 | $-0.29 | $3.14 | $-0.76 |
| BPA Diluido | $-1.25 | $-0.61 | $-0.30 | $-0.07 | $-0.34 | $0.02 | $-0.07 | $-0.29 | $3.14 | $-0.76 |
| Acciones en Circulación (Diluidas) | $10.9M | $13.3M | $15.7M | $17.0M | $18.0M | $21.3M | $22.7M | $23.1M | $23.6M | $23.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $5.0M | $6.2M | $7.4M | $5.7M |
| Beneficio Bruto | $534000 | $1.1M | $1.3M | $916000 |
| Beneficio Operativo | -$5.6M | -$4.3M | -$4.2M | -$5.5M |
| EBITDA | -$3.7M | -$2.7M | -$2.8M | -$4.6M |
| Beneficio Neto | -$3.5M | -$3.7M | -$3.4M | -$4.9M |
| BPA | $-0.14 | $-0.16 | $-0.15 | $-0.20 |
| BPA Diluido | $-0.14 | $-0.16 | $-0.15 | $-0.20 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $9.1M | $19.1M | $10.9M | $9.4M | $11.4M | $28.6M | $16.6M | $23.3M | $135.6M | $128.6M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $9.4M | $12.3M | $15.0M | $18.4M | $18.9M | $20.0M | $24.8M | $7.2M | $4.2M | $4.1M |
| Inventario | $11.6M | $11.1M | $13.6M | $16.1M | $20.3M | $19.9M | $29.0M | $12.6M | $7.5M | $7.4M |
| Activos Corrientes | $31.7M | $44.2M | $42.2M | $46.2M | $53.4M | $72.7M | $75.1M | $79.5M | $152.8M | $142.7M |
| Inmovilizado Material | $2.4M | $2.0M | $2.6M | $6.7M | $6.2M | $6.2M | $11.1M | $14.5M | $9.7M | $8.2M |
| Fondo de Comercio | 0 | 0 | $9.3M | $10.2M | $10.3M | $10.3M | $10.2M | $10.2M | 0 | 0 |
| Activos Intangibles | $5.8M | $4.4M | $11.0M | $10.1M | $7.6M | $6.4M | $5.3M | $4.3M | 0 | 0 |
| Activos Totales | $40.6M | $51.4M | $66.3M | $74.3M | $78.7M | $96.7M | $102.8M | $113.0M | $163.2M | $151.3M |
| Cuentas por Pagar | $6.0M | $5.9M | $5.7M | $8.8M | $11.0M | $10.5M | $15.2M | $5.4M | $2.7M | $3.6M |
| Deuda a Corto | $8.1M | $9.8M | $2.0M | $14.2M | $20.1M | 0 | 0 | $9.9M | 0 | 0 |
| Pasivos Corrientes | $22.6M | $21.2M | $29.5M | $34.5M | $41.6M | $20.8M | $23.4M | $30.8M | $8.0M | $9.4M |
| Deuda a Largo | 0 | $5.9M | $1.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $36.7M | $27.5M | $32.6M | $38.9M | $44.5M | $22.2M | $27.4M | $38.7M | $9.2M | $10.6M |
| Reservas | -$391.5M | -$399.6M | -$404.4M | -$405.5M | -$410.6M | -$409.0M | -$409.4M | -$414.9M | -$340.1M | -$358.1M |
| Patrimonio Neto | $3.9M | $23.9M | $33.7M | $35.5M | $34.2M | $74.5M | $75.4M | $74.3M | $154.1M | $140.7M |
| Deuda Total | $9.8M | $2.9M | $2.0M | $19.0M | $23.6M | $2.2M | $4.6M | $12.2M | $2.0M | $856000 |
| Deuda Neta | $663000 | -$16.1M | -$8.9M | $9.6M | $12.2M | -$26.3M | -$12.1M | -$11.1M | -$133.6M | -$127.8M |
| Capital Circulante | $9.1M | $23.0M | $12.7M | $11.7M | $11.9M | $51.9M | $51.7M | $48.7M | $144.9M | $133.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $126.3M | $128.6M | $124.8M | $119.4M |
| Activos Totales | $151.0M | $151.3M | $147.6M | $140.7M |
| Pasivos Totales | $7.4M | $10.6M | $10.5M | $7.6M |
| Patrimonio Neto | $143.7M | $140.7M | $137.2M | $133.1M |
| Deuda Total | $1.5M | $856000 | $730000 | $1.1M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$13.7M | -$8.2M | -$4.7M | -$1.2M | -$5.1M | $1.6M | -$392000 | -$5.5M | $74.8M | -$18.0M |
| Amortizaciones | $3.2M | $2.8M | $3.2M | $3.6M | $3.3M | $2.0M | $2.3M | $2.7M | $2.9M | $2.5M |
| Compensación en Acciones | $2.8M | $2.5M | $2.6M | $2.6M | $3.0M | $2.6M | $3.2M | $4.0M | $8.7M | $3.2M |
| Cambio en Capital Circulante | -$67000 | -$6.8M | -$8.2M | -$4.8M | -$4.7M | -$4.4M | -$12.9M | $32000 | $638000 | $4.2M |
| Flujo de Caja Operativo | -$6.2M | -$7.8M | -$5.2M | $427000 | -$1.8M | $1.2M | -$7.8M | $1.2M | -$15.4M | -$6.7M |
| Inversiones (CapEx) | -$549000 | -$967000 | -$1.3M | -$289000 | -$1.6M | -$2.1M | -$3.9M | -$4.3M | -$1.5M | -$1.1M |
| Adquisiciones | 0 | 0 | -$2.0M | -$1.3M | 0 | 0 | 0 | 0 | $143.0M | 0 |
| Recompra de Acciones | -$221000 | 0 | -$668000 | 0 | 0 | 0 | 0 | 0 | -$1.9M | 0 |
| Dividendos Pagados | 0 | 0 | -$833000 | -$1.0M | -$1.1M | 0 | 0 | -$1.3M | 0 | 0 |
| Flujo de Caja Libre | -$6.8M | -$8.8M | -$6.5M | $138000 | -$3.3M | -$859000 | -$11.7M | -$3.1M | -$16.9M | -$7.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$2.9M | $3.0M | -$2.8M | -$4.4M |
| Inversiones (CapEx) | -$411000 | -$203000 | -$882000 | -$707000 |
| Flujo de Caja Libre | -$3.3M | $2.8M | -$3.7M | -$5.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $708000 | $791000 | 0 | $724000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +7.2% | +29.8% | +7.2% | +3.8% | +19.4% | +8.8% | -61.5% | -38.7% | -19.3% |
| Crecimiento Beneficio Neto (anual) | | +40.6% | +42.1% | +75.6% | -343.5% | +131.7% | -124.2% | -1300.3% | +1463.1% | -124.1% |
| Crecimiento BPA (anual) | | +51.2% | +50.8% | +77.4% | -401.5% | +106.5% | -419.0% | -311.3% | +1182.8% | -124.2% |
| Cambio en Acciones (anual) | | +21.6% | +17.9% | +8.5% | +5.9% | +18.7% | +6.2% | +1.8% | +2.2% | +0.9% |
| Crecimiento FCF (anual) | | -30.0% | +25.7% | +102.1% | -2513.0% | +74.2% | -1263.1% | +73.3% | -441.3% | +53.9% |
| Margen Bruto | 42.2% | 36.8% | 42.7% | 43.8% | 38.7% | 35.7% | 36.3% | 13.8% | 1.3% | 6.1% |
| Margen Operativo | -20.0% | -7.7% | -2.4% | -0.1% | -4.0% | -1.3% | -0.3% | -31.1% | -105.0% | -96.0% |
| Margen EBITDA | -14.3% | -5.0% | 0.2% | 4.4% | -0.3% | 4.0% | 1.9% | -24.5% | -92.2% | -75.6% |
| Margen Neto | -24.4% | -13.5% | -6.0% | -1.4% | -5.9% | 1.6% | -0.3% | -12.6% | 281.0% | -83.8% |
| Margen FCF | -12.0% | -14.6% | -8.4% | 0.2% | -3.8% | -0.8% | -10.4% | -7.2% | -63.6% | -36.4% |
| Tasa Impositiva Efectiva | -1.0% | 2.6% | -3.4% | -39.5% | -1.5% | 1.7% | -34.7% | -0.5% | -0.3% | 1.5% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.62 | $-0.66 | $-0.42 | $0.01 | $-0.19 | $-0.04 | $-0.52 | $-0.14 | $-0.72 | $-0.33 |
| Dividendo por Acción | $0.00 | $0.00 | $0.05 | $0.06 | $0.06 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $10.9M | $13.3M | $15.7M | $17.0M | $18.0M | $21.3M | $22.7M | $23.1M | $23.6M | $23.8M |
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
| Rentabilidad sobre capital | -11.17% |
| Rentabilidad sobre capital invertido | -14.19% |
| Rentabilidad sobre activos | -11.01% |
| Margen bruto | 15.89% |
| Margen operativo | -80.52% |
| Margen neto | -63.80% |
Salud financiera
| Deuda / Patrimonio | 0.01 |
| Ratio corriente | 20.35 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -2.54 | -5.48 | -12.00 | -83.19 | -25.00 | 1273.30 | -102.70 | -28.41 | 1.17 | -5.05 |
| P/VC | 8.83 | 1.86 | 1.67 | 2.70 | 4.47 | 8.06 | 2.18 | 2.56 | 0.56 | 0.65 |
| P/V | 0.62 | 0.74 | 0.72 | 1.14 | 1.76 | 5.79 | 1.45 | 4.38 | 3.24 | 4.25 |
| Margen Bruto | 42.2% | 36.8% | 42.7% | 43.8% | 38.7% | 35.7% | 36.3% | 13.8% | 1.3% | 6.1% |
| Margen Operativo | -20.0% | -7.7% | -2.4% | -0.1% | -4.0% | -1.3% | -0.3% | -31.1% | -105.0% | -96.0% |
| Margen Neto | -24.4% | -13.5% | -6.0% | -1.4% | -5.9% | 1.6% | -0.3% | -12.6% | 281.0% | -83.8% |