Estados financieros detallados de Leishen Energy Holding Co., Ltd. (LSE): 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
Márgenes de los últimos 12 meses: margen bruto 17.7%, margen operativo 2.7%, margen neto 2.6%.
Al precio actual de $5.50, LSE cotiza a un P/E de 76.60 y un ROE del 2.83%. La capitalización bursátil es de $94M.
Cuenta de Resultados (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $31.3M | $46.7M | $73.1M | $69.1M | $48.3M |
| Coste de Ventas | $22.2M | $33.2M | $54.7M | $53.0M | $39.8M |
| Beneficio Bruto | $9.0M | $13.5M | $18.4M | $16.0M | $8.5M |
| I+D | 0 | 0 | $158657 | $449542 | $247216 |
| Generales y Administrativos | $2.8M | $5.3M | $6.3M | $8.0M | $7.0M |
| Gastos Operativos | $2.8M | $5.3M | $6.5M | $8.5M | $10.2M |
| Beneficio Operativo | $6.2M | $8.2M | $11.9M | $7.6M | -$1.7M |
| EBITDA | $6.0M | $8.1M | $12.9M | $8.8M | $1.3M |
| Gastos por Intereses | 0 | $42564 | $67964 | $57018 | $71194 |
| Beneficio Antes de Impuestos | $5.8M | $7.7M | $12.4M | $8.2M | $769557 |
| Impuestos | $1.3M | $2.0M | $729506 | $184818 | -$508978 |
| Beneficio Neto | $4.7M | $5.7M | $11.9M | $8.1M | $1.3M |
| BPA | $0.28 | $0.34 | $0.70 | $0.48 | $0.08 |
| BPA Diluido | $0.28 | $0.34 | $0.70 | $0.48 | $0.08 |
| Acciones en Circulación (Diluidas) | $16.9M | $16.9M | $16.9M | $16.9M | $16.7M |
Cuenta de Resultados (Trimestral)
| Año | 2024-Q1 | 2024-Q3 | 2025-Q1 | 2025-Q3 |
|---|
| Ingresos | $39.9M | $29.2M | $28.2M | $20.1M |
| Beneficio Bruto | $10.9M | $5.1M | $4.9M | $3.6M |
| Beneficio Operativo | $6.1M | $1.4M | -$2.2M | $3.5M |
| EBITDA | $6.3M | $2.4M | -$868935 | $5.0M |
| Beneficio Neto | $5.2M | $2.9M | -$624415 | $1.9M |
| BPA | $0.31 | $0.17 | $-0.04 | $0.11 |
| BPA Diluido | $0.31 | $0.17 | $-0.04 | $0.11 |
Balance (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $8.3M | $6.3M | $4.6M | $5.8M | $10.2M |
| Inversiones a Corto | $7.4M | $2.3M | $7.2M | $17.9M | $19.7M |
| Cuentas por Cobrar | $16.2M | $19.1M | $32.0M | $23.5M | $19.8M |
| Inventario | $1.6M | $3.2M | $7.9M | $5.4M | $3.7M |
| Activos Corrientes | $40.0M | $40.6M | $58.8M | $61.7M | $59.1M |
| Inmovilizado Material | $1.6M | $4.2M | $4.6M | $4.8M | $4.2M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $19175 | $15392 | $152901 | $140070 | $121771 |
| Activos Totales | $43.9M | $46.5M | $65.5M | $69.6M | $69.3M |
| Cuentas por Pagar | $4.5M | $4.0M | $11.8M | $10.7M | $7.5M |
| Deuda a Corto | 0 | $953750 | $1.1M | $50899 | $3.1M |
| Pasivos Corrientes | $16.8M | $13.8M | $31.8M | $27.1M | $23.2M |
| Deuda a Largo | 0 | $163528 | $49676 | $1.1M | $626291 |
| Pasivos Totales | $17.8M | $16.8M | $33.7M | $29.2M | $23.9M |
| Reservas | $13.2M | $18.8M | $29.4M | $37.3M | $38.2M |
| Patrimonio Neto | $25.5M | $28.6M | $30.8M | $39.8M | $45.4M |
| Deuda Total | $101582 | $1.5M | $1.9M | $1.8M | $3.8M |
| Deuda Neta | -$15.6M | -$7.0M | -$10.0M | -$21.8M | -$26.0M |
| Capital Circulante | $23.2M | $26.9M | $26.9M | $34.6M | $35.9M |
Balance (Trimestral)
| Año | 2024-Q1 | 2024-Q3 | 2025-Q1 | 2025-Q3 |
|---|
| Caja y Equivalentes | $6.5M | $5.8M | $18.8M | $10.2M |
| Activos Totales | $62.7M | $69.6M | $72.7M | $69.3M |
| Pasivos Totales | $25.1M | $29.2M | $29.3M | $23.9M |
| Patrimonio Neto | $36.4M | $39.8M | $43.1M | $45.4M |
| Deuda Total | $2.0M | $1.8M | $4.5M | $3.8M |
Flujo de Caja (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $4.6M | $5.8M | $11.6M | $8.0M | $1.3M |
| Amortizaciones | $167352 | $292847 | $420864 | $519006 | $485624 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $5.5M | -$13.2M | -$7.1M | $6.4M | -$6.2M |
| Flujo de Caja Operativo | $12.6M | -$4.4M | $4.4M | $15.1M | -$3.5M |
| Inversiones (CapEx) | -$1.0M | -$2.9M | -$977329 | -$716205 | -$205749 |
| Adquisiciones | 0 | 0 | 0 | 0 | $820698 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $11.6M | -$7.2M | $3.4M | $14.4M | -$3.7M |
Flujo de Caja (Trimestral)
| Año | 2024-Q1 | 2024-Q3 | 2025-Q1 | 2025-Q3 |
|---|
| Flujo de Caja Operativo | $5.1M | $10.0M | -$2.0M | -$1.5M |
| Inversiones (CapEx) | -$430018 | -$251194 | -$160562 | -$10420 |
| Flujo de Caja Libre | $4.6M | $9.8M | -$2.1M | -$1.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +49.5% | +56.4% | -5.5% | -30.0% |
| Crecimiento Beneficio Neto (anual) | | +22.9% | +107.2% | -31.7% | -84.5% |
| Crecimiento BPA (anual) | | +21.4% | +105.9% | -31.4% | -84.3% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +0.0% | -1.2% |
| Crecimiento FCF (anual) | | -162.5% | +147.1% | +320.7% | -126.0% |
| Margen Bruto | 28.9% | 29.0% | 25.1% | 23.2% | 17.6% |
| Margen Operativo | 20.0% | 17.6% | 16.3% | 10.9% | -3.4% |
| Margen EBITDA | 19.2% | 17.3% | 17.6% | 12.7% | 2.7% |
| Margen Neto | 14.9% | 12.2% | 16.2% | 11.7% | 2.6% |
| Margen FCF | 37.0% | -15.5% | 4.7% | 20.8% | -7.7% |
| Tasa Impositiva Efectiva | 21.5% | 25.6% | 5.9% | 2.3% | -66.1% |
Datos por Acción (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.69 | $-0.43 | $0.20 | $0.85 | $-0.22 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $16.9M | $16.9M | $16.9M | $16.9M | $16.7M |
Qué mirar en empresas de Energy
- FCF yield (>8%) — Caja generada / capitalización. En energía el FCF importa más que el EPS.
- ROIC medio 5a (≥10%) — Incluir años buenos y malos para filtrar las realmente disciplinadas.
- FCF positivo en 8 de los últimos 10 años (≥8/10) — Nombres disciplinados (XOM, CVX, EOG) sobreviven los crashes de 2014-16 y 2020.
- Cobertura del dividendo (FCF / div) (≥1,2x) — Dividendo cubierto por FCF, no por deuda. <1x = recorte probable.
- Deuda Neta / EBITDA (<2x en pico) — Mirarlo con EBITDA en valle, no en pico.
- Capex / Ingresos (10-20% saludable) — Energía necesita reinversión agresiva para mantener reservas.
Rentabilidad
| Rentabilidad sobre capital | 2.83% |
| Rentabilidad sobre capital invertido | 2.68% |
| Rentabilidad sobre activos | 1.81% |
| Margen bruto | 17.72% |
| Margen operativo | 2.73% |
| Margen neto | 2.60% |
Salud financiera
| Deuda / Patrimonio | 0.08 |
| Ratio corriente | 2.54 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 4.27 |
Ratios Clave (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 17.79 | 14.65 | 7.11 | 10.38 | 71.81 |
| P/VC | 3.29 | 2.94 | 2.73 | 2.11 | 1.98 |
| P/V | 2.69 | 1.80 | 1.15 | 1.22 | 1.86 |
| Margen Bruto | 28.9% | 29.0% | 25.1% | 23.2% | 17.6% |
| Margen Operativo | 20.0% | 17.6% | 16.3% | 10.9% | -3.4% |
| Margen Neto | 14.9% | 12.2% | 16.2% | 11.7% | 2.6% |