Estados financieros detallados de LexinFintech Holdings Ltd. (LX): 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
LexinFintech Holdings Ltd. registró ingresos de $12.79B en el último ejercicio fiscal, con un CAGR de 5 años del 1.9%. El beneficio neto alcanzó $1.63B, con un CAGR a 5 años del 22.4%.
Márgenes de los últimos 12 meses: margen bruto 60.6%, margen operativo 10.0%, margen neto 8.0%.
Al precio actual de $0.82, LX cotiza a un P/E de 0.85 y un ROE del 8.64%. La capitalización bursátil es de $138M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $4.34B | $5.58B | $7.60B | $10.60B | $11.65B | $11.38B | $9.87B | $13.06B | $14.20B | $12.79B |
| Coste de Ventas | $3.74B | $4.26B | $4.58B | $5.61B | $8.01B | $5.63B | $6.83B | $8.54B | $9.18B | $3.55B |
| Beneficio Bruto | $602.0M | $1.32B | $3.01B | $4.99B | $3.63B | $5.75B | $3.03B | $4.51B | $5.03B | $9.24B |
| I+D | $127.3M | $235.3M | $320.2M | $416.0M | $474.3M | $549.3M | $583.3M | $513.3M | $578.2M | $595.3M |
| Generales y Administrativos | $463.7M | $609.1M | $869.8M | $1.95B | $1.73B | $2.13B | $2.12B | $2.12B | $2.16B | $2.28B |
| Gastos Operativos | $591.0M | $844.4M | $1.19B | $2.37B | $2.20B | $2.68B | $2.70B | $2.63B | $2.74B | $6.98B |
| Beneficio Operativo | $11.0M | $475.7M | $1.82B | $2.63B | $1.43B | $3.07B | $334.4M | $1.88B | $2.29B | $2.26B |
| EBITDA | $15.6M | $494.5M | $2.16B | $2.83B | $870.4M | $2.98B | $1.23B | $1.52B | $1.51B | $2.37B |
| Gastos por Intereses | $48.3M | $75.5M | $23.1M | $39.2M | $77.5M | $63.1M | $55.6M | $50.5M | $9.0M | $244.8M |
| Beneficio Antes de Impuestos | -$59.7M | $474.6M | $2.11B | $2.71B | $685.6M | $2.77B | $1.03B | $1.33B | $1.35B | $2.02B |
| Impuestos | $58.3M | $234.2M | $132.2M | $412.0M | $90.6M | $435.4M | $202.6M | $260.8M | $253.3M | $387.7M |
| Beneficio Neto | -$117.9M | $240.4M | $1.98B | $2.29B | $595.0M | $2.33B | $819.8M | $1.07B | $1.10B | $1.63B |
| BPA | $-0.78 | $1.46 | $10.90 | $12.90 | $3.26 | $12.66 | $4.72 | $6.48 | $6.64 | $9.64 |
| BPA Diluido | $-0.71 | $1.40 | $10.90 | $12.22 | $3.12 | $11.46 | $4.42 | $6.34 | $6.50 | $9.16 |
| Acciones en Circulación (Diluidas) | $165.4M | $172.3M | $181.4M | $187.9M | $205.6M | $207.5M | $196.4M | $179.9M | $169.6M | $177.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $3.42B | $3.00B | $3.33B | $3.21B |
| Beneficio Bruto | $1.19B | $2.13B | $2.35B | $2.18B |
| Beneficio Operativo | $477.2M | $304.0M | $328.4M | $185.2M |
| EBITDA | $652.2M | $304.0M | $328.4M | $185.2M |
| Beneficio Neto | $521.3M | $211.1M | $200.2M | $101.0M |
| BPA | $3.06 | $1.26 | $1.22 | $0.62 |
| BPA Diluido | $2.92 | $1.24 | $1.20 | $0.60 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $479.6M | $1.13B | $1.15B | $2.09B | $1.56B | $2.66B | $1.49B | $2.62B | $2.25B | $3.88B |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | $270.0M | $200.0M | $80.0M | $78.5M |
| Cuentas por Cobrar | $6.66B | $10.67B | $7.14B | $5.35B | $6.72B | $4.71B | $7.14B | $4.93B | $5.79B | $9.79B |
| Inventario | $107.7M | $101.7M | $57.2M | $106.8M | $47.2M | $47.8M | $53.9M | $33.6M | $22.3M | $24.1M |
| Activos Corrientes | $7.54B | $12.74B | $10.30B | $16.51B | $16.42B | $16.66B | $17.78B | $18.50B | $17.91B | $13.74B |
| Inmovilizado Material | $41.7M | $63.1M | $82.4M | $92.6M | $125.7M | $195.3M | $284.6M | $446.6M | $613.1M | $895.6M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | $1.42B | $1.00B | $966.1M | $931.7M | $897.3M | $862.9M | $828.5M |
| Activos Totales | $8.72B | $14.73B | $12.47B | $19.24B | $20.35B | $21.03B | $22.77B | $23.14B | $22.24B | $23.18B |
| Cuentas por Pagar | $326.0M | $647.3M | $1.17B | $1.24B | $713.9M | $441.5M | $408.5M | $1.12B | $929.2M | $955.1M |
| Deuda a Corto | $7.04B | $10.69B | $5.08B | $5.73B | $6.51B | $4.90B | $7.62B | $4.49B | $3.45B | $3.35B |
| Pasivos Corrientes | $7.99B | $12.86B | $8.02B | $9.80B | $12.02B | $10.19B | $12.48B | $12.32B | $9.60B | $3.35B |
| Deuda a Largo | $721.0M | $166.9M | $157.9M | $2.50B | $2.75B | $2.58B | $1.48B | $980.1M | $1.78B | $1.42B |
| Pasivos Totales | $8.71B | $13.03B | $8.36B | $12.64B | $14.81B | $12.96B | $14.12B | $13.43B | $11.50B | $11.22B |
| Reservas | -$630.7M | -$450.6M | $1.59B | $3.73B | $2.11B | $4.20B | $4.89B | $5.74B | $7.78B | $7.82B |
| Patrimonio Neto | $13.9M | $1.70B | $4.11B | $6.60B | $5.49B | $8.03B | $8.65B | $9.71B | $10.74B | $11.96B |
| Deuda Total | $7.76B | $10.86B | $5.24B | $8.30B | $9.33B | $7.67B | $9.26B | $5.51B | $5.27B | $4.80B |
| Deuda Neta | $7.28B | $9.73B | $4.09B | $6.22B | $7.77B | $5.01B | $7.49B | $2.69B | $2.93B | $840.5M |
| Capital Circulante | -$441.3M | -$122.8M | $2.29B | $6.70B | $4.40B | $6.47B | $5.30B | $6.18B | $8.30B | $10.40B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $2.19B | $2.16B | $3.11B | $2.40B |
| Activos Totales | $23.07B | $23.16B | $22.68B | $22.39B |
| Pasivos Totales | $11.24B | $11.21B | $10.62B | $10.38B |
| Patrimonio Neto | $11.82B | $11.95B | $12.06B | $12.01B |
| Deuda Total | $4.76B | $4.80B | $4.03B | $3.69B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$117.9M | $240.4M | $1.98B | $2.29B | $595.0M | $2.33B | $825.9M | $1.07B | $1.10B | $1.68B |
| Amortizaciones | $4.6M | $18.9M | $30.4M | $87.8M | $107.3M | $145.3M | $148.1M | $145.1M | 0 | $143.7M |
| Compensación en Acciones | $24.0M | $75.7M | $122.6M | $177.3M | $198.8M | $187.9M | $156.3M | $117.9M | $94.6M | $96.2M |
| Cambio en Capital Circulante | $110.9M | $672.1M | -$11.1M | -$4.17B | -$5.45B | -$1.50B | -$2.78B | -$4.19B | -$6.18B | -$2.41B |
| Flujo de Caja Operativo | $379.8M | $1.66B | $2.79B | -$778.5M | -$211.0M | $2.67B | $98.8M | $2.79B | $1.08B | $3.61B |
| Inversiones (CapEx) | -$32.1M | -$37.8M | -$54.2M | -$49.9M | -$86.6M | -$121.5M | -$148.8M | -$229.5M | -$247.1M | -$352.9M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | $51.9M | 0 | 0 | 0 |
| Recompra de Acciones | -$87.9M | 0 | -$171.2M | -$339.5M | 0 | 0 | -$326.9M | 0 | 0 | -$202.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$135.6M | -$164.4M | -$383.1M |
| Flujo de Caja Libre | $347.7M | $1.62B | $2.74B | -$828.4M | -$297.6M | $2.55B | -$50.0M | $2.56B | $834.4M | $3.26B |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | 0 | 0 | 0 | 0 |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $21.3M | $4.9M | $23.1M | $22.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +28.7% | +36.1% | +39.6% | +9.8% | -2.3% | -13.3% | +32.3% | +8.8% | -9.9% |
| Crecimiento Beneficio Neto (anual) | | +303.8% | +722.7% | +16.0% | -74.1% | +292.3% | -64.9% | +30.0% | +3.2% | +48.2% |
| Crecimiento BPA (anual) | | +287.2% | +646.6% | +18.3% | -74.7% | +288.3% | -62.7% | +37.3% | +2.5% | +45.2% |
| Cambio en Acciones (anual) | | +4.2% | +5.3% | +3.6% | +9.4% | +0.9% | -5.4% | -8.4% | -5.7% | +4.7% |
| Crecimiento FCF (anual) | | +367.2% | +68.7% | -130.2% | +64.1% | +955.5% | -102.0% | +5217.9% | -67.4% | +290.9% |
| Margen Bruto | 13.9% | 23.6% | 39.6% | 47.1% | 31.2% | 50.5% | 30.8% | 34.6% | 35.4% | 72.3% |
| Margen Operativo | 0.3% | 8.5% | 24.0% | 24.8% | 12.3% | 27.0% | 3.4% | 14.4% | 16.1% | 17.7% |
| Margen EBITDA | 0.4% | 8.9% | 28.5% | 26.7% | 7.5% | 26.2% | 12.5% | 11.7% | 10.6% | 18.5% |
| Margen Neto | -2.7% | 4.3% | 26.0% | 21.6% | 5.1% | 20.5% | 8.3% | 8.2% | 7.7% | 12.8% |
| Margen FCF | 8.0% | 29.1% | 36.1% | -7.8% | -2.6% | 22.4% | -0.5% | 19.6% | 5.9% | 25.5% |
| Tasa Impositiva Efectiva | -97.6% | 49.4% | 6.3% | 15.2% | 13.2% | 15.7% | 19.7% | 19.7% | 18.7% | 19.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $2.10 | $9.43 | $15.11 | $-4.41 | $-1.45 | $12.27 | $-0.25 | $14.22 | $4.92 | $18.37 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.75 | $0.97 | $2.16 |
| Acciones en Circulación (Básicas) | $151.9M | $164.7M | $181.4M | $186.8M | $205.6M | $184.2M | $174.0M | $168.3M | $165.7M | $169.5M |
Qué mirar en Servicios Financieros
Asset managers, brokers, fintech, bolsas. No son bancos — mira AUM, comisiones y calidad del FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — Los buenos asset managers tienen márgenes >30% por escalabilidad
- ROE — Servicios financieros de calidad tienen ROE >15% consistente
- FCF / Net Income — Calidad del beneficio — >90% esperado en negocios ligeros en capital
- Debt / Equity — Fintech y brokers con D/E alto son bombas de relojería en crisis
- P/E vs 5y propio — Asset managers tienen múltiplos estables en rangos conocidos
- Dividend yield + buybacks — Estos negocios devuelven mucho capital — mirar yield total (div + recompras)
Rentabilidad
| Rentabilidad sobre capital | 8.64% |
| Rentabilidad sobre capital invertido | 4.49% |
| Rentabilidad sobre activos | 4.62% |
| Margen bruto | 60.64% |
| Margen operativo | 10.00% |
| Margen neto | 7.98% |
Salud financiera
| Deuda / Patrimonio | 0.31 |
| Ratio corriente | 6.18 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -95.24 | 61.94 | 4.57 | 7.50 | 13.41 | 1.94 | 2.78 | 2.02 | 6.38 | 2.37 |
| P/VC | 810.51 | 8.75 | 2.20 | 2.74 | 1.64 | 0.56 | 0.26 | 0.23 | 0.65 | 0.32 |
| P/V | 2.60 | 2.67 | 1.19 | 1.70 | 0.77 | 0.40 | 0.23 | 0.17 | 0.49 | 0.30 |
| Margen Bruto | 13.9% | 23.6% | 39.6% | 47.1% | 31.2% | 50.5% | 30.8% | 34.6% | 35.4% | 72.3% |
| Margen Operativo | 0.3% | 8.5% | 24.0% | 24.8% | 12.3% | 27.0% | 3.4% | 14.4% | 16.1% | 17.7% |
| Margen Neto | -2.7% | 4.3% | 26.0% | 21.6% | 5.1% | 20.5% | 8.3% | 8.2% | 7.7% | 12.8% |