Estados financieros detallados de MDB Capital Holdings, LLC Class A common (MDBH): 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.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | $1.1M | $4.2M | $2.2M | $4.3M |
| Coste de Ventas | $1.8M | $2.0M | $2.8M | $8.6M | $20.1M | $15.0M |
| Beneficio Bruto | -$1.8M | -$2.0M | -$1.7M | -$4.4M | -$17.8M | -$10.7M |
| I+D | $577165 | $454454 | $348085 | $528178 | $1.5M | 0 |
| Generales y Administrativos | $1.4M | $2.7M | $3.0M | $4.2M | $7.8M | $19.1M |
| Gastos Operativos | -$550440 | $14.0M | $4.4M | $4.1M | $10.8M | $6.8M |
| Beneficio Operativo | -$1.2M | -$15.9M | -$6.1M | -$8.5M | -$28.6M | -$17.5M |
| EBITDA | -$4.2M | -$5.7M | -$6.0M | -$9.8M | $12.3M | -$17.0M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | $71629 | 0 |
| Beneficio Antes de Impuestos | -$1.2M | -$15.7M | -$5.9M | -$7.6M | $11.6M | -$21.3M |
| Impuestos | $40072 | 0 | 0 | $127918 | $2143 | $11000 |
| Beneficio Neto | -$722181 | -$15.1M | -$5.3M | -$7.0M | $11.7M | -$21.2M |
| BPA | $-0.09 | $-1.78 | $-0.63 | $-0.86 | $2.64 | $-2.12 |
| BPA Diluido | $-0.09 | $-1.78 | $-0.63 | $-0.86 | $2.64 | $-2.12 |
| Acciones en Circulación (Diluidas) | $8.5M | $8.5M | $8.5M | $8.1M | $4.4M | $10.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | $2.1M | $3.1M | $1.3M |
| Beneficio Bruto | -$3.3M | -$1.4M | $3.1M | $944000 |
| Beneficio Operativo | -$3.8M | -$2.9M | -$5.6M | -$6.1M |
| EBITDA | -$4.7M | -$2.3M | -$6.7M | -$7.4M |
| Beneficio Neto | -$4.7M | -$1.8M | -$6.7M | -$9.3M |
| BPA | $-0.46 | $-0.17 | $-0.66 | $-0.90 |
| BPA Diluido | $-0.46 | $-0.17 | $-0.66 | $-0.90 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $12.5M | $6.2M | $5.0M | $6.1M | $20.4M | $13.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $151284 | $468353 | $809532 | $882319 | $63759 | $137000 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | 0 | 0 | $6.1M | $9.0M | $23.6M | $18.1M |
| Inmovilizado Material | $215161 | $1.3M | $2.0M | $3.2M | $731845 | $664000 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $27.9M | $8.2M | $25.7M | $43.0M | $72.0M | $63.7M |
| Cuentas por Pagar | 0 | 0 | $698782 | $578214 | $1.1M | $2.5M |
| Deuda a Corto | $251340 | $720627 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | 0 | 0 | $1.2M | $3.2M | $1.2M | $2.6M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $3.3M | $1.5M | $2.6M | $5.7M | $1.9M | $3.2M |
| Reservas | 0 | 0 | -$5.1M | -$12.1M | $1.4M | -$19.8M |
| Patrimonio Neto | $24.7M | $6.2M | $22.6M | $37.3M | $70.2M | $60.7M |
| Deuda Total | $251340 | $720627 | $1.4M | $2.4M | $711503 | $609000 |
| Deuda Neta | -$12.2M | -$5.5M | -$3.5M | -$3.7M | -$19.7M | -$12.6M |
| Capital Circulante | 0 | 0 | $4.9M | $5.8M | $22.4M | $15.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $15.1M | $13.2M | $12.5M | $9.6M |
| Activos Totales | $61.5M | $63.7M | $57.5M | $50.8M |
| Pasivos Totales | $1.9M | $3.2M | $1.2M | $1.3M |
| Patrimonio Neto | $59.7M | $60.7M | $56.3M | $49.6M |
| Deuda Total | $635421 | $609000 | $581000 | $553000 |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$1.3M | -$15.7M | -$5.9M | -$7.7M | $11.6M | -$21.3M |
| Amortizaciones | $46510 | $48207 | $147750 | $196938 | $229920 | $22000 |
| Compensación en Acciones | 0 | $200671 | $218355 | $4.4M | $14.4M | $11.8M |
| Cambio en Capital Circulante | $436712 | -$413086 | -$7131 | $1.6M | -$2.6M | $1.2M |
| Flujo de Caja Operativo | $9.5M | -$5.8M | -$6.6M | -$7.2M | -$9.0M | -$5.7M |
| Inversiones (CapEx) | -$62125 | -$423386 | -$193252 | -$438785 | $546079 | -$49000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | -$2.7M | 0 | 0 | 0 |
| Flujo de Caja Libre | $9.4M | -$6.3M | -$6.8M | -$7.6M | -$8.5M | -$5.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$1.9M | -$1.4M | -$2.9M | -$2.6M |
| Inversiones (CapEx) | -$25675 | -$23324 | -$69000 | -$18000 |
| Flujo de Caja Libre | -$1.9M | -$1.4M | -$3.0M | -$2.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $8.7M | $2.4M | $2.6M |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | +279.7% | -47.5% | +92.8% |
| Crecimiento Beneficio Neto (anual) | | -1990.9% | +64.8% | -31.1% | +267.8% | -281.7% |
| Crecimiento BPA (anual) | | -1986.8% | +64.6% | -36.5% | +407.0% | -180.3% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | -4.3% | -45.4% | +126.5% |
| Crecimiento FCF (anual) | | -166.3% | -8.1% | -12.3% | -11.7% | +32.5% |
| Margen Bruto | | | -153.2% | -103.8% | -803.2% | -249.6% |
| Margen Operativo | | | -547.3% | -200.9% | -1289.4% | -408.5% |
| Margen EBITDA | | | -535.4% | -230.6% | 555.1% | -395.9% |
| Margen Neto | | | -476.6% | -164.6% | 526.5% | -496.1% |
| Margen FCF | | | -606.7% | -179.5% | -382.4% | -133.9% |
| Tasa Impositiva Efectiva | -3.2% | -0.0% | -0.0% | -1.7% | 0.0% | -0.1% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $1.12 | $-0.74 | $-0.80 | $-0.94 | $-1.92 | $-0.57 |
| Dividendo por Acción | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $8.5M | $8.5M | $8.5M | $8.1M | $4.4M | $10.0M |
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)
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -146.54 | -7.02 | -19.84 | -13.41 | 2.39 | -1.53 |
| P/VC | 4.29 | 16.95 | 4.67 | 2.50 | 0.40 | 0.54 |
| P/V | 0.00 | 0.00 | 94.87 | 22.07 | 12.55 | 7.61 |
| Margen Bruto | 0.0% | 0.0% | -153.2% | -103.8% | -803.2% | -249.6% |
| Margen Operativo | 0.0% | 0.0% | -547.3% | -200.9% | -1289.4% | -408.5% |
| Margen Neto | 0.0% | 0.0% | -476.6% | -164.6% | 526.5% | -496.1% |