Estados financieros detallados de Innospec Inc. (IOSP): 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
Innospec Inc. registró ingresos de $1.78B en el último ejercicio fiscal, con un CAGR de 5 años del 8.3%. El beneficio neto alcanzó $116.6M, con un CAGR a 5 años del 32.4%.
Márgenes de los últimos 12 meses: margen bruto 27.5%, margen operativo 8.1%, margen neto 6.6%. El flujo de caja libre creció a un CAGR del -5.4% en 5 años.
Al precio actual de $92.93, IOSP cotiza a un P/E de 18.98 y un ROE del 9.15%. La capitalización bursátil es de $2.3B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $883.4M | $1.31B | $1.48B | $1.51B | $1.19B | $1.48B | $1.96B | $1.95B | $1.85B | $1.78B |
| Coste de Ventas | $551.1M | $903.5M | $1.04B | $1.05B | $850.4M | $1.05B | $1.38B | $1.36B | $1.30B | $1.29B |
| Beneficio Bruto | $332.3M | $403.3M | $435.0M | $466.2M | $342.7M | $434.9M | $586.7M | $591.1M | $542.9M | $492.4M |
| I+D | $25.4M | $31.4M | $33.4M | $35.4M | $30.9M | $37.4M | $38.7M | $41.7M | $47.8M | $51.0M |
| Generales y Administrativos | $209.5M | $239.5M | $261.0M | $280.9M | $237.0M | $267.2M | $360.7M | $387.8M | $314.0M | $285.1M |
| Gastos Operativos | $234.9M | $270.9M | $294.4M | $316.3M | $309.0M | $302.8M | $399.4M | $429.5M | $365.0M | $336.1M |
| Beneficio Operativo | $105.4M | $129.7M | $133.5M | $149.9M | $33.7M | $132.1M | $187.3M | $161.6M | $177.9M | $156.3M |
| EBITDA | $144.0M | $191.9M | $194.2M | $206.2M | $87.5M | $173.0M | $225.8M | $213.7M | $224.6M | $187.4M |
| Gastos por Intereses | $3.2M | $8.2M | $6.9M | $4.8M | $1.8M | $1.5M | $1.1M | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $103.1M | $128.1M | $131.6M | $150.4M | $39.7M | $134.4M | $184.6M | $174.4M | $41.2M | $138.1M |
| Impuestos | $21.8M | $66.3M | $46.6M | $38.2M | $11.0M | $41.3M | $51.6M | $35.3M | $5.6M | $21.5M |
| Beneficio Neto | $81.3M | $61.8M | $85.0M | $112.2M | $28.7M | $93.1M | $133.0M | $139.1M | $35.6M | $116.6M |
| BPA | $3.39 | $2.56 | $3.48 | $4.58 | $1.17 | $3.78 | $5.37 | $5.60 | $1.43 | $4.69 |
| BPA Diluido | $3.33 | $2.52 | $3.45 | $4.54 | $1.16 | $3.75 | $5.32 | $5.56 | $1.42 | $4.67 |
| Acciones en Circulación (Diluidas) | $24.4M | $24.5M | $24.6M | $24.7M | $24.8M | $24.9M | $25.0M | $25.0M | $25.1M | $25.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $441.9M | $455.6M | $453.2M | $491.4M |
| Beneficio Bruto | $116.7M | $127.4M | $123.5M | $138.3M |
| Beneficio Operativo | $31.1M | $47.1M | $31.8M | $39.7M |
| EBITDA | $23.4M | $59.7M | $49.8M | $38.6M |
| Beneficio Neto | $12.9M | $47.4M | $30.4M | $30.8M |
| BPA | $0.52 | $1.91 | $1.23 | $1.25 |
| BPA Diluido | $0.52 | $1.91 | $1.22 | $1.25 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $101.9M | $90.2M | $123.1M | $75.7M | $105.3M | $141.8M | $147.1M | $203.7M | $289.2M | $292.5M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $154.4M | $244.5M | $279.7M | $292.0M | $221.4M | $284.5M | $334.6M | $359.8M | $341.7M | $342.3M |
| Inventario | $173.8M | $209.8M | $248.0M | $244.6M | $220.0M | $277.6M | $373.1M | $300.1M | $301.0M | $329.3M |
| Activos Corrientes | $441.1M | $561.5M | $663.9M | $630.3M | $566.2M | $728.1M | $872.6M | $885.7M | $956.6M | $1.00B |
| Inmovilizado Material | $157.4M | $196.0M | $196.4M | $231.1M | $250.9M | $249.8M | $266.2M | $313.4M | $314.5M | $338.8M |
| Fondo de Comercio | $374.8M | $361.8M | $364.9M | $363.0M | $371.2M | $364.3M | $358.8M | $399.3M | $382.5M | $399.0M |
| Activos Intangibles | $144.4M | $163.3M | $136.3M | $113.5M | $75.3M | $57.5M | $45.0M | $57.3M | $65.4M | $67.7M |
| Activos Totales | $1.18B | $1.41B | $1.47B | $1.47B | $1.40B | $1.57B | $1.60B | $1.71B | $1.73B | $1.83B |
| Cuentas por Pagar | $59.6M | $117.9M | $126.8M | $122.0M | $98.7M | $148.7M | $165.3M | $163.6M | $163.8M | $174.7M |
| Deuda a Corto | $10.3M | $15.8M | $21.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $183.1M | $261.6M | $296.6M | $303.5M | $252.4M | $336.6M | $405.8M | $371.5M | $371.4M | $360.1M |
| Deuda a Largo | $258.5M | $202.6M | $186.2M | $58.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $527.6M | $615.9M | $647.9M | $549.9M | $452.5M | $537.9M | $563.3M | $557.8M | $518.6M | $499.5M |
| Reservas | $561.8M | $605.0M | $668.3M | $755.5M | $758.6M | $822.9M | $924.2M | $1.03B | $1.02B | $1.10B |
| Patrimonio Neto | $653.8M | $794.3M | $825.5M | $918.5M | $944.4M | $1.03B | $1.04B | $1.15B | $1.21B | $1.33B |
| Deuda Total | $273.3M | $224.3M | $210.9M | $92.6M | $40.8M | $35.6M | $45.3M | $45.2M | $44.9M | $52.7M |
| Deuda Neta | $171.4M | $134.1M | $87.8M | $16.9M | -$64.5M | -$106.2M | -$101.8M | -$158.5M | -$244.3M | -$239.8M |
| Capital Circulante | $258.0M | $299.9M | $367.3M | $326.8M | $313.8M | $391.5M | $466.8M | $514.2M | $585.2M | $644.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $270.8M | $292.5M | $289.1M | $250.2M |
| Activos Totales | $1.80B | $1.83B | $1.82B | $1.85B |
| Pasivos Totales | $496.5M | $499.5M | $467.6M | $495.2M |
| Patrimonio Neto | $1.30B | $1.33B | $1.34B | $1.34B |
| Deuda Total | $49.0M | $52.7M | $50.6M | $47.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $81.3M | $61.8M | $85.0M | $112.2M | $28.7M | $93.1M | $133.0M | $139.1M | $35.6M | $116.6M |
| Amortizaciones | $38.1M | $50.4M | $49.6M | $47.6M | $46.0M | $42.7M | $40.1M | $39.3M | $43.5M | $43.6M |
| Compensación en Acciones | $3.3M | $4.1M | $4.9M | $26.7M | $5.8M | $4.4M | $6.7M | $8.0M | $8.5M | $8.1M |
| Cambio en Capital Circulante | -$2.8M | -$25.0M | -$34.8M | -$20.8M | $50.1M | -$48.1M | -$90.1M | $20.6M | -$18.9M | -$48.4M |
| Flujo de Caja Operativo | $104.5M | $82.7M | $104.9M | $161.6M | $145.9M | $93.2M | $81.7M | $207.3M | $184.5M | $138.3M |
| Inversiones (CapEx) | -$16.5M | -$32.2M | -$30.1M | -$29.9M | -$29.7M | -$39.1M | -$42.3M | -$62.1M | -$41.4M | -$50.3M |
| Adquisiciones | -$197.4M | $2.6M | -$5.4M | 0 | $100000 | $3.0M | $2.0M | -$34.7M | -$200000 | -$700000 |
| Recompra de Acciones | -$8.4M | -$1.1M | -$1.4M | -$2.4M | -$2.1M | -$800000 | -$5.9M | -$1.1M | -$700000 | -$23.9M |
| Dividendos Pagados | -$15.9M | -$18.6M | -$21.7M | -$25.0M | -$25.6M | -$28.8M | -$31.7M | -$35.1M | -$38.8M | -$42.4M |
| Flujo de Caja Libre | $88.0M | $50.5M | $74.8M | $131.7M | $116.2M | $54.1M | $39.4M | $145.2M | $143.1M | $88.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $39.3M | $61.4M | $17.6M | $7.2M |
| Inversiones (CapEx) | -$14.3M | -$14.6M | -$8.9M | -$22.8M |
| Flujo de Caja Libre | $25.0M | $46.8M | $8.7M | -$15.6M |
| Dividendos Pagados | 0 | -$21.6M | 0 | -$22.7M |
| Compensación en Acciones | $900000 | $3.1M | $1.6M | $2.2M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +47.9% | +13.0% | +2.5% | -21.2% | +24.3% | +32.4% | -0.8% | -5.3% | -3.7% |
| Crecimiento Beneficio Neto (anual) | | -24.0% | +37.5% | +32.0% | -74.4% | +224.4% | +42.9% | +4.6% | -74.4% | +227.5% |
| Crecimiento BPA (anual) | | -24.5% | +35.9% | +31.6% | -74.5% | +223.1% | +42.1% | +4.3% | -74.5% | +228.0% |
| Cambio en Acciones (anual) | | +0.2% | +0.5% | +0.5% | +0.2% | +0.3% | +0.5% | +0.2% | +0.4% | -0.5% |
| Crecimiento FCF (anual) | | -42.6% | +48.1% | +76.1% | -11.8% | -53.4% | -27.2% | +268.5% | -1.4% | -38.5% |
| Margen Bruto | 37.6% | 30.9% | 29.5% | 30.8% | 28.7% | 29.3% | 29.9% | 30.3% | 29.4% | 27.7% |
| Margen Operativo | 11.9% | 9.9% | 9.0% | 9.9% | 2.8% | 8.9% | 9.5% | 8.3% | 9.6% | 8.8% |
| Margen EBITDA | 16.3% | 14.7% | 13.1% | 13.6% | 7.3% | 11.7% | 11.5% | 11.0% | 12.2% | 10.5% |
| Margen Neto | 9.2% | 4.7% | 5.8% | 7.4% | 2.4% | 6.3% | 6.8% | 7.1% | 1.9% | 6.6% |
| Margen FCF | 10.0% | 3.9% | 5.1% | 8.7% | 9.7% | 3.6% | 2.0% | 7.5% | 7.8% | 4.9% |
| Tasa Impositiva Efectiva | 21.1% | 51.8% | 35.4% | 25.4% | 27.7% | 30.7% | 28.0% | 20.2% | 13.6% | 15.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $3.60 | $2.06 | $3.04 | $5.33 | $4.69 | $2.18 | $1.58 | $5.80 | $5.70 | $3.52 |
| Dividendo por Acción | $0.65 | $0.76 | $0.88 | $1.01 | $1.03 | $1.16 | $1.27 | $1.40 | $1.54 | $1.70 |
| Acciones en Circulación (Básicas) | $24.0M | $24.1M | $24.4M | $24.5M | $24.6M | $24.6M | $24.8M | $24.9M | $24.9M | $24.9M |
Qué mirar en Basic Materials
Mineras, químicas, acero. 100% commodity-driven. Analizar con P/E puro es un error — mira posición de costes y sostenibilidad del dividendo.
- FCF yield — En commodities el FCF es oro — EPS engaña mucho
- Margen bruto — Margen bruto consistente 5y = señal de moat
- Deuda neta / EBITDA (valle) — Usar EBITDA del peor año del ciclo, no el actual
- Dividend coverage — Dividendo cubierto por FCF en año medio, no en pico
- Capex / D&A — >1x = mantienen/crecen reservas. <0.7x = están descapitalizando
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
- P/B en ciclos — Commodities: 0.8-1.2x en valles, 2x+ en picos. <2x aún zona razonable
Rentabilidad
| Rentabilidad sobre capital | 9.15% |
| Rentabilidad sobre capital invertido | 8.56% |
| Rentabilidad sobre activos | 6.58% |
| Margen bruto | 27.46% |
| Margen operativo | 8.13% |
| Margen neto | 6.60% |
Salud financiera
| Deuda / Patrimonio | 0.04 |
| Ratio corriente | 2.78 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 4.80 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 20.21 | 27.58 | 17.75 | 22.59 | 77.55 | 23.90 | 19.15 | 22.01 | 76.97 | 16.32 |
| P/VC | 2.51 | 2.15 | 1.83 | 2.76 | 2.36 | 2.16 | 2.46 | 2.67 | 2.27 | 1.44 |
| P/V | 1.86 | 1.30 | 1.02 | 1.67 | 1.87 | 1.50 | 1.30 | 1.57 | 1.49 | 1.07 |
| Margen Bruto | 37.6% | 30.9% | 29.5% | 30.8% | 28.7% | 29.3% | 29.9% | 30.3% | 29.4% | 27.7% |
| Margen Operativo | 11.9% | 9.9% | 9.0% | 9.9% | 2.8% | 8.9% | 9.5% | 8.3% | 9.6% | 8.8% |
| Margen Neto | 9.2% | 4.7% | 5.8% | 7.4% | 2.4% | 6.3% | 6.8% | 7.1% | 1.9% | 6.6% |