Estados financieros detallados de iQIYI, Inc. (IQ): 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
iQIYI, Inc. registró ingresos de $27.29B en el último ejercicio fiscal, con un CAGR de 5 años del -1.7%.
Márgenes de los últimos 12 meses: margen bruto 17.9%, margen operativo -1.5%, margen neto -3.2%.
Al precio actual de $1.08, IQ presenta beneficios negativos (P/E no significativo) y un ROE del -6.38%. La capitalización bursátil es de $1.0B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $11.24B | $17.38B | $24.99B | $28.99B | $29.71B | $30.55B | $29.00B | $31.87B | $29.23B | $27.29B |
| Coste de Ventas | $11.44B | $17.39B | $27.13B | $30.35B | $27.88B | $27.51B | $22.32B | $23.10B | $21.95B | $21.54B |
| Beneficio Bruto | -$199.2M | -$8.2M | -$2.14B | -$1.35B | $1.82B | $3.04B | $6.68B | $8.77B | $7.27B | $5.75B |
| I+D | $824.5M | $1.27B | $1.99B | $2.67B | $2.68B | $2.79B | $1.90B | $1.77B | $1.78B | $1.66B |
| Generales y Administrativos | $1.77B | $2.67B | $4.17B | $5.24B | $5.19B | $4.73B | $3.47B | $4.01B | $3.68B | $3.86B |
| Gastos Operativos | $2.59B | $3.94B | $6.16B | $7.90B | $7.86B | $7.52B | $5.37B | $5.78B | $5.46B | $5.52B |
| Beneficio Operativo | -$2.79B | -$3.95B | -$8.31B | -$9.26B | -$6.04B | -$4.48B | $1.31B | $2.99B | $1.81B | $229.3M |
| EBITDA | $2.31B | $4.90B | $6.27B | $7.86B | $11.28B | $12.10B | $14.34B | $17.25B | $15.54B | $14.11B |
| Gastos por Intereses | $110.5M | $277.6M | $94.7M | $914.4M | $1.07B | $1.35B | $715.1M | $1.13B | $1.06B | $909.6M |
| Beneficio Antes de Impuestos | -$3.06B | -$3.74B | -$8.98B | -$10.22B | -$6.98B | -$6.01B | -$33.8M | $2.03B | $851.7M | -$59.5M |
| Impuestos | $13.1M | -$7.6M | $78.8M | $51.9M | $23.3M | $96.5M | $84.0M | $80.0M | $61.1M | $144.5M |
| Beneficio Neto | -$3.07B | -$3.74B | -$9.11B | -$10.28B | -$7.01B | -$6.19B | -$136.2M | $1.93B | $764.1M | -$206.3M |
| BPA | $-11.45 | $1.31 | $-17.02 | $-14.14 | $-9.52 | $-7.77 | $-0.14 | $2.02 | $0.79 | $-0.21 |
| BPA Diluido | $-11.45 | $1.31 | $-17.02 | $-14.14 | $-9.52 | $-7.77 | $-0.14 | $1.98 | $0.79 | $-0.21 |
| Acciones en Circulación (Diluidas) | $726.4M | $726.4M | $552.6M | $729.3M | $739.5M | $795.8M | $855.4M | $974.8M | $971.4M | $963.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $6.68B | $6.79B | $6.23B | $6.27B |
| Beneficio Bruto | $1.22B | $1.42B | $992.3M | $1.04B |
| Beneficio Operativo | -$121.8M | $55.4M | -$228.4M | -$104.5M |
| EBITDA | $13.7M | $248.5M | -$42.4M | -$104.5M |
| Beneficio Neto | -$248.9M | -$5.8M | -$294.6M | -$286.7M |
| BPA | $-0.28 | $-0.01 | $-0.30 | $-0.30 |
| BPA Diluido | $-0.28 | $-0.01 | $-0.30 | $-0.30 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $964.2M | $733.0M | $4.59B | $5.93B | $10.92B | $3.00B | $7.10B | $4.43B | $3.53B | $4.35B |
| Inversiones a Corto | $903.0M | $779.9M | $6.06B | $4.58B | $3.36B | $1.35B | $818.3M | $941.7M | $941.6M | $314.8M |
| Cuentas por Cobrar | $1.84B | $2.25B | $4.48B | $5.61B | $4.95B | $4.82B | $4.37B | $6.01B | $4.13B | $4.53B |
| Inventario | $197.1M | $178.1M | $2.17B | $974.9M | $25.2M | 0 | 0 | $568.2M | 0 | 0 |
| Activos Corrientes | $5.15B | $5.70B | $19.85B | $20.27B | $22.29B | $11.52B | $13.79B | $12.64B | $9.53B | $10.29B |
| Inmovilizado Material | $539.2M | $1.25B | $1.62B | $2.48B | $2.40B | $2.25B | $1.78B | $1.55B | $1.49B | $1.39B |
| Fondo de Comercio | $3.28B | $3.28B | $3.89B | $3.89B | $3.89B | $3.89B | $3.83B | $3.82B | $3.82B | $3.82B |
| Activos Intangibles | $3.24B | $6.55B | $12.06B | $11.46B | $13.62B | $18.75B | $20.28B | $7.28B | $7.22B | $20.76B |
| Activos Totales | $13.63B | $20.20B | $44.76B | $44.79B | $48.19B | $42.47B | $46.05B | $44.59B | $45.76B | $46.68B |
| Cuentas por Pagar | $4.18B | $7.04B | $10.16B | $8.21B | $7.56B | $8.90B | $5.99B | $5.67B | $6.48B | $6.65B |
| Deuda a Corto | $100.0M | $309.4M | $3.18B | $3.40B | $8.63B | $4.12B | $12.35B | $6.42B | $4.25B | $4.74B |
| Pasivos Corrientes | $11.89B | $11.63B | $19.81B | $20.17B | $24.85B | $22.48B | $28.13B | $22.34B | $21.48B | $22.07B |
| Deuda a Largo | 0 | $284.0M | $5.36B | $13.83B | $12.58B | $12.65B | $9.57B | $8.24B | $9.39B | $10.08B |
| Pasivos Totales | $28.94B | $11.92B | $26.60B | $35.18B | $38.85B | $36.80B | $39.70B | $32.41B | $32.39B | $33.37B |
| Reservas | -$15.99B | -$15.02B | -$23.51B | -$33.83B | -$40.97B | -$47.16B | -$46.50B | -$44.57B | -$43.81B | -$44.02B |
| Patrimonio Neto | -$15.30B | $8.28B | $18.04B | $9.57B | $9.26B | $5.19B | $6.25B | $12.09B | $13.37B | $13.32B |
| Deuda Total | $100.0M | $593.4M | $8.49B | $17.06B | $22.18B | $17.57B | $22.53B | $15.29B | $14.19B | $15.25B |
| Deuda Neta | -$1.77B | -$919.6M | -$2.16B | $6.55B | $7.91B | $13.22B | $14.62B | $9.91B | $9.72B | $10.58B |
| Capital Circulante | -$6.74B | -$5.93B | $41.1M | $99.7M | -$2.56B | -$10.95B | -$14.34B | -$9.71B | -$11.95B | -$11.78B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $3.96B | $4.35B | $2.94B | $3.21B |
| Activos Totales | $45.79B | $46.68B | $46.17B | $45.44B |
| Pasivos Totales | $32.45B | $33.37B | $33.15B | $32.86B |
| Patrimonio Neto | $13.34B | $13.32B | $13.07B | $12.66B |
| Deuda Total | $14.74B | $15.25B | $14.22B | $14.12B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$3.07B | -$3.74B | -$9.06B | -$10.28B | -$7.01B | -$6.11B | -$117.8M | $1.95B | $790.6M | -$200.7M |
| Amortizaciones | $5.02B | $8.77B | $14.98B | $17.17B | $17.20B | $16.77B | $13.66B | $14.09B | $13.63B | $12.82B |
| Compensación en Acciones | $62.4M | $233.4M | $556.2M | $1.08B | $1.37B | $1.22B | $811.4M | $636.7M | $544.4M | 0 |
| Cambio en Capital Circulante | $556.0M | -$735.3M | -$3.57B | -$4.21B | -$16.61B | -$17.59B | -$14.49B | -$13.21B | -$12.36B | -$12.70B |
| Flujo de Caja Operativo | $2.61B | $4.01B | $2.88B | $3.91B | -$5.41B | -$5.95B | -$70.6M | $3.35B | $2.11B | $102.9M |
| Inversiones (CapEx) | -$5.73B | -$10.22B | -$14.04B | -$12.83B | -$385.7M | -$400.7M | -$269.8M | -$104.9M | -$173.0M | -$93.2M |
| Adquisiciones | $5.33B | -$9.20B | -$1.02B | -$2.8M | -$5.8M | -$139.2M | 0 | -$67.9M | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | -$62.4M | -$27.8M | -$64.2M | 0 | 0 | 0 |
| Flujo de Caja Libre | -$3.12B | -$6.21B | -$11.16B | -$8.92B | -$5.80B | -$6.35B | -$340.3M | $3.25B | $1.94B | $9.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$267.6M | $45.9M | $186.4M | $339.6M |
| Inversiones (CapEx) | -$22.7M | -$45.9M | -$76.7M | -$20.0M |
| Flujo de Caja Libre | -$290.3M | 0 | $109.8M | $319.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $98.4M | 0 | $78.3M | $72.9M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +54.6% | +43.8% | +16.0% | +2.5% | +2.9% | -5.1% | +9.9% | -8.3% | -6.6% |
| Crecimiento Beneficio Neto (anual) | | -21.6% | -143.8% | -12.8% | +31.8% | +11.7% | +97.8% | +1513.6% | -60.3% | -127.0% |
| Crecimiento BPA (anual) | | +111.4% | -1399.2% | +16.9% | +32.7% | +18.4% | +98.2% | +1542.9% | -60.9% | -126.6% |
| Cambio en Acciones (anual) | | +0.0% | -23.9% | +32.0% | +1.4% | +7.6% | +7.5% | +14.0% | -0.4% | -0.8% |
| Crecimiento FCF (anual) | | -98.9% | -79.7% | +20.1% | +35.0% | -9.6% | +94.6% | +1054.0% | -40.3% | -99.5% |
| Margen Bruto | -1.8% | -0.0% | -8.6% | -4.7% | 6.1% | 10.0% | 23.0% | 27.5% | 24.9% | 21.1% |
| Margen Operativo | -24.8% | -22.7% | -33.2% | -31.9% | -20.3% | -14.7% | 4.5% | 9.4% | 6.2% | 0.8% |
| Margen EBITDA | 20.5% | 28.2% | 25.1% | 27.1% | 38.0% | 39.6% | 49.4% | 54.1% | 53.2% | 51.7% |
| Margen Neto | -27.4% | -21.5% | -36.5% | -35.4% | -23.6% | -20.3% | -0.5% | 6.0% | 2.6% | -0.8% |
| Margen FCF | -27.8% | -35.7% | -44.6% | -30.8% | -19.5% | -20.8% | -1.2% | 10.2% | 6.6% | 0.0% |
| Tasa Impositiva Efectiva | -0.4% | 0.2% | -0.9% | -0.5% | -0.3% | -1.6% | -248.7% | 3.9% | 7.2% | -242.9% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-4.30 | $-8.55 | $-20.19 | $-12.23 | $-7.84 | $-7.98 | $-0.40 | $3.33 | $1.99 | $0.01 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.03 | $0.08 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $726.4M | $726.4M | $535.0M | $729.3M | $739.5M | $795.8M | $855.4M | $953.6M | $961.4M | $963.8M |
Qué mirar en empresas de Communication Services
- 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 | -6.38% |
| Rentabilidad sobre capital invertido | -1.45% |
| Rentabilidad sobre activos | -1.84% |
| Margen bruto | 17.95% |
| Margen operativo | -1.54% |
| Margen neto | -3.22% |
Salud financiera
| Deuda / Patrimonio | 1.12 |
| Ratio corriente | 0.45 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -9.43 | 77.26 | -6.01 | -10.39 | -11.98 | -3.73 | -261.11 | 17.16 | 18.47 | -64.36 |
| P/VC | -5.12 | 8.88 | 3.03 | 11.20 | 9.11 | 4.44 | 5.00 | 2.73 | 1.06 | 0.97 |
| P/V | 6.98 | 4.23 | 2.19 | 3.70 | 2.84 | 0.75 | 1.08 | 1.04 | 0.48 | 0.47 |
| Margen Bruto | -1.8% | -0.0% | -8.6% | -4.7% | 6.1% | 10.0% | 23.0% | 27.5% | 24.9% | 21.1% |
| Margen Operativo | -24.8% | -22.7% | -33.2% | -31.9% | -20.3% | -14.7% | 4.5% | 9.4% | 6.2% | 0.8% |
| Margen Neto | -27.4% | -21.5% | -36.5% | -35.4% | -23.6% | -20.3% | -0.5% | 6.0% | 2.6% | -0.8% |