Estados financieros detallados de MidCap Financial Investment Corporation (MFIC): 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
MidCap Financial Investment Corporation registró ingresos de $274.4M en el último ejercicio fiscal, con un CAGR de 5 años del 8.5%. El beneficio neto alcanzó $63.2M, con un CAGR a 5 años del -10.8%.
Márgenes de los últimos 12 meses: margen bruto 113.4%, margen operativo 36.1%, margen neto -11.4%. El flujo de caja libre creció a un CAGR del -26.4% en 5 años.
Al precio actual de $9.31, MFIC presenta beneficios negativos (P/E no significativo) y un ROE del -2.39%. La capitalización bursátil es de $767M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $17.5M | $89.0M | $84.0M | -$22.4M | $182.2M | $151.7M | $141.5M | $237.3M | $226.3M | $274.4M |
| Coste de Ventas | 0 | 0 | $57.6M | $73.4M | $55.4M | $55.0M | $47.4M | $104.2M | $116.0M | $45.5M |
| Beneficio Bruto | $17.5M | $89.0M | $26.4M | -$95.8M | $126.7M | $96.7M | $94.1M | $133.2M | $110.3M | $228.8M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $20.7M | $16.5M | $18.1M | $16.3M | $15.3M | $14.9M | $55.7M | $16.0M | $12.3M | $6300 |
| Gastos Operativos | -$856000 | $2.0M | $12.1M | $20.3M | $14.9M | $14.4M | -$9.4M | $14.4M | $11.5M | $32.3M |
| Beneficio Operativo | $78.1M | $140.1M | $130.3M | -$116.1M | $111.9M | $82.4M | $103.5M | $118.8M | $98.8M | $196.6M |
| EBITDA | $78.1M | $140.1M | $130.3M | -$116.1M | $111.9M | $82.4M | $103.7M | $118.8M | $98.8M | $190.2M |
| Gastos por Intereses | $59.8M | $53.0M | $58.3M | $73.4M | $55.4M | $55.0M | $79.2M | $104.2M | $116.0M | $127000 |
| Beneficio Antes de Impuestos | $18.4M | $87.0M | $71.9M | -$116.1M | $111.9M | $82.4M | $30.6M | $118.8M | $98.8M | $63.2M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | $18.4M | $87.0M | $71.9M | -$116.1M | $111.9M | $82.4M | $30.6M | $118.8M | $98.8M | $63.2M |
| BPA | $0.25 | $1.19 | $1.02 | $-1.73 | $1.71 | $1.28 | $0.47 | $1.82 | $1.27 | $0.68 |
| BPA Diluido | $0.25 | $1.19 | $1.02 | $-1.73 | $1.71 | $1.28 | $0.47 | $1.82 | $1.27 | $0.68 |
| Acciones en Circulación (Diluidas) | $74.1M | $72.9M | $70.6M | $67.2M | $65.3M | $64.5M | $64.6M | $65.3M | $78.0M | $93.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $63.6M | $65.0M | $63.4M | $68.1M |
| Beneficio Bruto | $50.9M | $125.7M | $56.3M | $61.8M |
| Beneficio Operativo | $59.8M | $21.9M | $2.3M | $9.9M |
| EBITDA | $59.8M | $82.0M | $1.6M | $9.6M |
| Beneficio Neto | $27.5M | -$12.7M | -$26.9M | -$17.5M |
| BPA | $0.29 | $-0.14 | $-0.30 | $-0.21 |
| BPA Diluido | $0.29 | $-0.14 | $-0.30 | $-0.21 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $11.3M | $15.3M | $41.2M | $43.7M | $54.6M | $30.6M | $87.1M | $122.1M | $75.8M | $99.4M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $63.8M | $28.9M | $28.4M | $25.2M | $18.3M | $28.6M | $25.1M | $25.6M | $77.2M | $30.6M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $75.1M | $44.2M | $69.6M | $69.6M | $73.8M | $59.9M | $114.0M | $147.7M | $153.0M | $130.0M |
| Inmovilizado Material | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $2.41B | $2.31B | $2.50B | $2.87B | $2.54B | $2.60B | $2.53B | $2.50B | $3.19B | $3.32B |
| Cuentas por Pagar | $54.2M | $79.6M | $37.5M | $32.3M | $25.6M | $26.2M | 0 | $14.5M | $17.0M | $13.4M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $125.0M |
| Pasivos Corrientes | $54.2M | $79.6M | $37.5M | $32.3M | $25.6M | $26.2M | $47.6M | $14.5M | $17.0M | $125.0M |
| Deuda a Largo | $848.4M | $789.8M | $1.13B | $1.79B | $1.47B | $1.55B | $1.48B | $1.46B | $1.75B | $1.87B |
| Pasivos Totales | $928.3M | $893.7M | $1.19B | $1.85B | $1.51B | $1.60B | $1.54B | $1.50B | $1.79B | $2.02B |
| Reservas | $88.1M | -$10.2M | -$843.3M | -$1.08B | -$1.06B | -$1.07B | -$1.12B | -$1.10B | -$1.25B | -$1.35B |
| Patrimonio Neto | $1.48B | $1.42B | $1.31B | $1.02B | $1.04B | $1.00B | $988.1M | $1.01B | $1.40B | $1.31B |
| Deuda Total | $848.4M | $789.8M | $1.13B | $1.79B | $1.47B | $1.55B | $1.48B | $1.46B | $1.75B | $2.00B |
| Deuda Neta | $837.2M | $774.5M | $1.09B | $1.75B | $1.41B | $1.52B | $1.40B | $1.34B | $1.68B | $1.90B |
| Capital Circulante | $20.8M | -$35.4M | $32.0M | $37.3M | $48.2M | $33.7M | $66.4M | $133.2M | $136.0M | $5.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $62.5M | $99.4M | $42.6M | $43.3M |
| Activos Totales | $3.31B | $3.32B | $3.07B | $2.86B |
| Pasivos Totales | $1.94B | $2.02B | $1.89B | $1.76B |
| Patrimonio Neto | $1.37B | $1.31B | $1.18B | $1.10B |
| Deuda Total | $1.92B | $2.00B | $1.87B | $1.74B |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $18.4M | $87.0M | $71.9M | -$116.1M | $111.9M | $82.4M | $30.6M | $118.8M | $98.8M | $28.7M |
| Amortizaciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$1.7M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $7.8M | -$4.3M | -$8.0M | $1.4M | $3.6M | -$1.0M | $5.6M | $5.0M | $10.8M | -$16.4M |
| Flujo de Caja Operativo | $642.4M | $263.8M | -$132.6M | -$482.5M | $470.7M | -$2.7M | $76.1M | $196.4M | -$9.5M | $101.4M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$37.9M | -$19.7M | -$50.8M | -$52.1M | 0 | -$21.1M | -$1.6M | -$2.3M | 0 | -$19.0M |
| Dividendos Pagados | -$156.5M | -$131.5M | -$128.0M | -$121.8M | -$105.7M | -$93.3M | -$66.7M | -$123.5M | -$139.6M | -$141.6M |
| Flujo de Caja Libre | $642.4M | $263.8M | -$132.6M | -$482.5M | $470.7M | -$2.7M | $76.1M | $196.4M | -$9.5M | $101.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $166.3M | $27.2M | $169.4M | $189.3M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $166.3M | $27.2M | $169.4M | $189.3M |
| Dividendos Pagados | -$35.5M | -$35.0M | -$28.1M | -$25.5M |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +408.4% | -5.6% | -126.6% | +913.5% | -16.7% | -6.8% | +67.8% | -4.7% | +21.2% |
| Crecimiento Beneficio Neto (anual) | | +373.8% | -17.3% | -261.3% | +196.4% | -26.4% | -62.9% | +288.3% | -16.8% | -36.1% |
| Crecimiento BPA (anual) | | +376.0% | -14.3% | -269.6% | +198.8% | -25.1% | -63.3% | +287.2% | -30.2% | -46.5% |
| Cambio en Acciones (anual) | | -1.7% | -3.1% | -4.8% | -2.9% | -1.1% | +0.1% | +1.2% | +19.3% | +19.6% |
| Crecimiento FCF (anual) | | -58.9% | -150.3% | -263.8% | +197.6% | -100.6% | +2941.5% | +158.2% | -104.9% | +1163.4% |
| Margen Bruto | 100.0% | 100.0% | 31.4% | 427.8% | 69.6% | 63.7% | 66.5% | 56.1% | 48.8% | 83.4% |
| Margen Operativo | 446.1% | 157.3% | 155.0% | 518.4% | 61.4% | 54.3% | 73.1% | 50.0% | 43.7% | 71.6% |
| Margen EBITDA | 446.1% | 157.3% | 155.0% | 518.4% | 61.4% | 54.3% | 73.3% | 50.0% | 43.7% | 69.3% |
| Margen Neto | 104.9% | 97.7% | 85.6% | 518.4% | 61.4% | 54.3% | 21.6% | 50.0% | 43.7% | 23.0% |
| Margen FCF | 3668.0% | 296.3% | -157.8% | 2154.8% | 258.4% | -1.8% | 53.8% | 82.7% | -4.2% | 36.9% |
| Tasa Impositiva Efectiva | 0.0% | 0.0% | 0.0% | -0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $8.67 | $3.62 | $-1.88 | $-7.18 | $7.21 | $-0.04 | $1.18 | $3.01 | $-0.12 | $1.09 |
| Dividendo por Acción | $2.11 | $1.80 | $1.81 | $1.81 | $1.62 | $1.45 | $1.03 | $1.89 | $1.79 | $1.52 |
| Acciones en Circulación (Básicas) | $74.1M | $72.9M | $70.6M | $67.2M | $65.3M | $64.5M | $64.6M | $65.3M | $78.0M | $93.3M |
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 | -2.39% |
| Rentabilidad sobre capital invertido | 3.29% |
| Rentabilidad sobre activos | -1.04% |
| Margen bruto | 113.37% |
| Margen operativo | 36.12% |
| Margen neto | -11.40% |
Salud financiera
| Deuda / Patrimonio | 1.58 |
| Ratio corriente | 0.52 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 0.03 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 78.72 | 13.34 | 14.94 | -3.90 | 8.02 | 10.33 | 24.26 | 7.52 | 10.62 | 16.82 |
| P/VC | 0.98 | 0.82 | 0.82 | 0.44 | 0.86 | 0.85 | 0.75 | 0.89 | 0.75 | 0.82 |
| P/V | 83.31 | 12.99 | 12.81 | -20.27 | 4.92 | 5.62 | 5.20 | 3.77 | 4.65 | 3.89 |
| Margen Bruto | 100.0% | 100.0% | 31.4% | 427.8% | 69.6% | 63.7% | 66.5% | 56.1% | 48.8% | 83.4% |
| Margen Operativo | 446.1% | 157.3% | 155.0% | 518.4% | 61.4% | 54.3% | 73.1% | 50.0% | 43.7% | 71.6% |
| Margen Neto | 104.9% | 97.7% | 85.6% | 518.4% | 61.4% | 54.3% | 21.6% | 50.0% | 43.7% | 23.0% |