Estados financieros detallados de Intelligent Protection Management Corp. (IPM): 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
Intelligent Protection Management Corp. registró ingresos de $23.6M en el último ejercicio fiscal, con un CAGR de 5 años del 13.0%.
Márgenes de los últimos 12 meses: margen bruto 46.5%, margen operativo -16.8%, margen neto -14.8%. El flujo de caja libre creció a un CAGR del -11.1% en 5 años.
Al precio actual de $1.81, IPM presenta beneficios negativos (P/E no significativo) y un ROE del -21.12%. La capitalización bursátil es de $16M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $21.0M | $24.8M | $20.3M | $15.3M | $12.8M | $13.3M | $11.0M | $962032 | $1.1M | $23.6M |
| Coste de Ventas | $5.0M | $4.9M | $3.6M | $3.2M | $2.6M | $2.7M | $2.8M | $284892 | $262888 | $11.3M |
| Beneficio Bruto | $16.0M | $20.0M | $16.7M | $12.1M | $10.3M | $10.6M | $8.2M | $677140 | $835392 | $12.3M |
| I+D | $8.6M | $8.9M | $6.6M | $6.6M | $5.0M | $5.4M | $5.9M | $210232 | $215538 | $3.3M |
| Generales y Administrativos | $9.1M | $16.7M | $9.7M | $7.4M | $4.0M | $3.9M | $5.9M | $4.2M | $5.7M | $13.8M |
| Gastos Operativos | $17.7M | $25.6M | $18.1M | $20.7M | $9.0M | $10.0M | $11.8M | $4.4M | $6.0M | $16.3M |
| Beneficio Operativo | -$1.7M | -$5.7M | -$1.3M | -$8.6M | $1.2M | $519490 | -$3.7M | -$3.7M | -$5.1M | -$4.0M |
| EBITDA | -$341315 | -$3.5M | $2.4M | -$1.1M | $1.9M | $1.7M | -$2.9M | -$1.8M | -$3.5M | -$1.3M |
| Gastos por Intereses | $60030 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$1.5M | -$5.7M | -$2.0M | -$9.1M | $1.4M | $1.3M | -$3.6M | -$2.7M | -$4.4M | -$4.3M |
| Impuestos | 0 | $228972 | $3001 | -$141593 | $387 | $9951 | -$171665 | -$27947 | -$137589 | -$2.3M |
| Beneficio Neto | -$1.5M | -$5.9M | -$3.8M | -$8.4M | $1.4M | $1.3M | -$3.4M | -$1.1M | -$8.4M | -$2.0M |
| BPA | $-0.26 | $-0.91 | $-0.56 | $-1.22 | $0.20 | $0.17 | $-0.35 | $-0.12 | $-0.91 | $-0.49 |
| BPA Diluido | $-0.26 | $-0.91 | $-0.56 | $-1.22 | $0.20 | $0.17 | $-0.35 | $-0.12 | $-0.91 | $-0.15 |
| Acciones en Circulación (Diluidas) | $5.6M | $6.5M | $6.7M | $6.9M | $6.9M | $7.8M | $9.6M | $9.2M | $9.2M | $11.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $6.2M | $6.1M | $6.4M | $6.5M |
| Beneficio Bruto | $3.2M | $3.3M | $2.6M | $2.7M |
| Beneficio Operativo | -$1.4M | -$609192 | -$678348 | -$1.5M |
| EBITDA | -$708362 | -$161596 | -$41267 | -$976839 |
| Beneficio Neto | -$1.1M | -$631968 | -$660214 | -$1.4M |
| BPA | $-0.12 | $-0.16 | $-0.17 | $-0.34 |
| BPA Diluido | $-0.12 | $-0.06 | $-0.05 | $-0.10 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $4.2M | $4.1M | $6.6M | $3.4M | $5.6M | $21.6M | $14.7M | $13.6M | $10.6M | $6.6M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.1M | $619937 | $421284 | $130686 | $71410 | $153448 | $122297 | $114212 | $114212 | $1.6M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $6.3M | $5.0M | $7.3M | $3.7M | $5.9M | $22.0M | $15.4M | $14.8M | $11.2M | $11.5M |
| Inmovilizado Material | $793305 | $622712 | $810334 | $1.3M | $324744 | $309090 | $159181 | $77005 | $74490 | $1.7M |
| Fondo de Comercio | $14.3M | $13.1M | $13.1M | $6.3M | $6.3M | $6.3M | $6.3M | 0 | 0 | $4.6M |
| Activos Intangibles | $5.6M | $3.9M | $884223 | $627891 | $381210 | $196543 | $3.5M | $2.7M | $1.9M | $7.7M |
| Activos Totales | $27.5M | $22.8M | $24.4M | $12.2M | $13.6M | $28.9M | $25.4M | $23.9M | $15.9M | $26.0M |
| Cuentas por Pagar | $1.7M | $2.4M | $2.8M | $1.0M | $742141 | $1.3M | $1.0M | $99307 | $380298 | $1.6M |
| Deuda a Corto | 0 | 0 | 0 | 0 | $338792 | 0 | 0 | 0 | 0 | $756590 |
| Pasivos Corrientes | $5.0M | $5.3M | $9.2M | $3.5M | $3.6M | $3.7M | $3.7M | $3.1M | $3.5M | $7.3M |
| Deuda a Largo | 0 | 0 | 0 | 0 | $167708 | 0 | 0 | 0 | 0 | $387906 |
| Pasivos Totales | $6.7M | $5.3M | $9.3M | $4.0M | $3.8M | $3.8M | $4.5M | $3.8M | $4.0M | $7.9M |
| Reservas | $5.0M | -$923074 | -$4.7M | -$13.1M | -$11.7M | -$10.4M | -$13.8M | -$14.9M | -$23.3M | -$25.3M |
| Patrimonio Neto | $20.8M | $17.4M | $15.2M | $8.2M | $9.8M | $25.1M | $21.0M | $20.1M | $11.9M | $18.2M |
| Deuda Total | 0 | 0 | $232423 | $761554 | $575467 | $239491 | $159181 | $77005 | $74490 | $1.1M |
| Deuda Neta | -$4.2M | -$4.1M | -$6.3M | -$2.7M | -$5.0M | -$21.4M | -$14.6M | -$13.5M | -$10.5M | -$5.5M |
| Capital Circulante | $1.4M | -$348442 | -$1.9M | $274623 | $2.3M | $18.4M | $11.7M | $11.6M | $7.7M | $4.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $8.3M | $6.6M | $6.7M | $7.5M |
| Activos Totales | $27.2M | $26.0M | $29.5M | $28.4M |
| Pasivos Totales | $8.5M | $7.9M | $12.1M | $12.2M |
| Patrimonio Neto | $18.8M | $18.2M | $17.5M | $16.2M |
| Deuda Total | $1.4M | $1.1M | $4.2M | $4.2M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$1.5M | -$5.9M | -$2.0M | -$8.9M | $1.4M | $1.3M | -$3.4M | -$2.7M | -$4.3M | -$2.0M |
| Amortizaciones | $1.4M | $2.1M | $2.0M | $783572 | $675808 | $445261 | $751173 | $904510 | $905396 | $2.5M |
| Compensación en Acciones | $353120 | $1.6M | $1.6M | $1.4M | $243197 | -$35653 | $333825 | 0 | 0 | $343850 |
| Cambio en Capital Circulante | -$575528 | $1.4M | $3.9M | -$4.8M | -$929584 | -$77260 | -$465069 | -$1.3M | $759567 | $2.1M |
| Flujo de Caja Operativo | -$406651 | -$730758 | $2.7M | -$4.5M | $1.4M | $1.3M | -$3.0M | -$1.1M | -$3.0M | $1.1M |
| Inversiones (CapEx) | -$345070 | -$294227 | -$342651 | -$391230 | 0 | 0 | 0 | 0 | -$3 | -$280149 |
| Adquisiciones | -$1.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$4.0M |
| Recompra de Acciones | 0 | 0 | 0 | -$2015 | -$8844 | 0 | -$997924 | -$7213 | 0 | -$301048 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$751721 | -$1.0M | $2.4M | -$4.9M | $1.4M | $1.3M | -$3.0M | -$1.1M | -$3.0M | $796575 |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $133037 | $87582 | -$195712 | -$591018 |
| Inversiones (CapEx) | $3 | -$3 | -$70208 | -$8481 |
| Flujo de Caja Libre | $133040 | $87579 | -$265920 | -$599499 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $54545 | $23556 | $41572 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +18.4% | -18.2% | -24.8% | -16.0% | +3.4% | -17.2% | -91.2% | +14.2% | +2049.9% |
| Crecimiento Beneficio Neto (anual) | | -305.7% | +35.6% | -120.7% | +116.4% | -3.4% | -357.7% | +68.7% | -689.5% | +76.8% |
| Crecimiento BPA (anual) | | -250.0% | +38.5% | -117.9% | +116.4% | -15.0% | -305.9% | +65.7% | -658.3% | +46.2% |
| Cambio en Acciones (anual) | | +15.7% | +4.2% | +2.3% | +0.2% | +13.4% | +23.4% | -4.3% | +0.1% | +20.7% |
| Crecimiento FCF (anual) | | -36.4% | +333.2% | -303.2% | +129.6% | -11.8% | -333.6% | +63.5% | -179.6% | +126.4% |
| Margen Bruto | 76.1% | 80.4% | 82.2% | 79.2% | 79.9% | 79.5% | 74.3% | 70.4% | 76.1% | 52.3% |
| Margen Operativo | -8.3% | -22.8% | -6.6% | -56.4% | 9.7% | 3.9% | -33.3% | -384.4% | -466.3% | -16.9% |
| Margen EBITDA | -1.6% | -14.2% | 12.0% | -7.0% | 15.0% | 13.0% | -26.4% | -188.2% | -318.8% | -5.6% |
| Margen Neto | -6.9% | -23.7% | -18.7% | -54.8% | 10.7% | 10.0% | -31.0% | -110.9% | -767.2% | -8.3% |
| Margen FCF | -3.6% | -4.1% | 11.8% | -31.8% | 11.2% | 9.5% | -26.9% | -112.2% | -274.9% | 3.4% |
| Tasa Impositiva Efectiva | -0.0% | -4.0% | -0.1% | 1.6% | 0.0% | 0.7% | 4.8% | 1.0% | 3.1% | 54.3% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.13 | $-0.16 | $0.36 | $-0.71 | $0.21 | $0.16 | $-0.31 | $-0.12 | $-0.33 | $0.07 |
| 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) | $5.6M | $6.5M | $6.7M | $6.9M | $6.9M | $7.8M | $9.6M | $9.2M | $9.2M | $4.0M |
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 | -21.12% |
| Rentabilidad sobre capital invertido | -18.37% |
| Rentabilidad sobre activos | -13.14% |
| Margen bruto | 46.49% |
| Margen operativo | -16.82% |
| Margen neto | -14.80% |
Salud financiera
| Deuda / Patrimonio | 0.26 |
| Ratio corriente | 1.40 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -7.31 | -2.09 | -3.39 | -1.56 | 9.50 | 11.18 | -5.43 | -15.83 | -2.19 | -3.51 |
| P/VC | 0.51 | 0.70 | 0.84 | 1.60 | 1.33 | 0.59 | 0.87 | 0.87 | 1.54 | 0.38 |
| P/V | 0.50 | 0.49 | 0.63 | 0.85 | 1.02 | 1.11 | 1.67 | 18.21 | 16.72 | 0.29 |
| Margen Bruto | 76.1% | 80.4% | 82.2% | 79.2% | 79.9% | 79.5% | 74.3% | 70.4% | 76.1% | 52.3% |
| Margen Operativo | -8.3% | -22.8% | -6.6% | -56.4% | 9.7% | 3.9% | -33.3% | -384.4% | -466.3% | -16.9% |
| Margen Neto | -6.9% | -23.7% | -18.7% | -54.8% | 10.7% | 10.0% | -31.0% | -110.9% | -767.2% | -8.3% |