Estados financieros detallados de Mount Logan Capital Inc. (MLCI): 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 86.6%, margen operativo 114.8%, margen neto 50.8%.
Al precio actual de $3.20, MLCI presenta beneficios negativos (P/E no significativo) y un ROE del -61.99%. La capitalización bursátil es de $36M.
Cuenta de Resultados (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $22.1M | $50.4M | $214.7M | $195.7M | -$12.4M |
| Coste de Ventas | -$4.0M | $21.4M | $169.5M | $134.6M | $47.3M |
| Beneficio Bruto | $26.1M | $29.0M | $45.2M | $61.0M | -$59.7M |
| I+D | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $6.2M | $20.3M | $27.7M | $25.0M | $20.9M |
| Gastos Operativos | -$7.2M | $21.0M | $32.4M | $31.1M | $29.4M |
| Beneficio Operativo | $33.3M | $7.9M | $12.8M | $29.9M | -$89.1M |
| EBITDA | $34.5M | $52.9M | -$8.8M | $18.1M | -$34.1M |
| Gastos por Intereses | $2.9M | $3.6M | $6.0M | $7.9M | $9.4M |
| Beneficio Antes de Impuestos | $30.9M | $48.8M | -$15.8M | $6.1M | -$58.5M |
| Impuestos | $2.1M | $430000 | $663000 | $550000 | $2.4M |
| Beneficio Neto | $28.7M | $48.3M | -$16.5M | $5.6M | -$60.8M |
| BPA | $1.55 | $2.18 | $-0.69 | $0.22 | $-7.08 |
| BPA Diluido | $1.54 | $2.15 | $-0.69 | $0.20 | $-7.08 |
| Acciones en Circulación (Diluidas) | $18.7M | $22.5M | $23.9M | $28.2M | $8.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $27.4M | -$145.4M | $2.3M | $8.7M |
| Beneficio Bruto | $4.4M | -$103.3M | -$2.3M | $8.6M |
| Beneficio Operativo | -$13.4M | -$92.3M | -$20.5M | $3.4M |
| EBITDA | -$480000 | -$44.4M | -$3.1M | -$1.0M |
| Beneficio Neto | -$13.4M | -$30.7M | -$6.0M | -$4.2M |
| BPA | $-1.64 | $-4.84 | $-0.51 | $-0.37 |
| BPA Diluido | $-1.64 | $-4.84 | $-0.51 | $-0.37 |
Balance (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $44.2M | $65.9M | $90.2M | $86.0M | $133.8M |
| Inversiones a Corto | $69.8M | $105.5M | $109.3M | $117.8M | 0 |
| Cuentas por Cobrar | $617.6M | $455.1M | $469.8M | $429.9M | $712.7M |
| Inventario | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $661.9M | $626.6M | $674.4M | $653.0M | $857.8M |
| Inmovilizado Material | 0 | 0 | 0 | 0 | $405000 |
| Fondo de Comercio | $55.0M | $55.0M | $55.0M | $55.0M | $31.2M |
| Activos Intangibles | $24.5M | $23.9M | $31.2M | $27.2M | $13.4M |
| Activos Totales | $1.68B | $1.54B | $1.69B | $1.69B | $1.60B |
| Cuentas por Pagar | $8.0M | $24.6M | $13.1M | $5.1M | $15.6M |
| Deuda a Corto | $42.7M | $53.2M | $1.3M | $4.0M | 0 |
| Pasivos Corrientes | $1.32B | $1.19B | $1.32B | $1.30B | $1.18B |
| Deuda a Largo | $45.0M | $55.4M | $74.9M | $88.7M | $93.5M |
| Pasivos Totales | $1.66B | $1.48B | $1.64B | $1.63B | $1.51B |
| Reservas | -$79.2M | -$32.3M | -$50.2M | -$46.1M | -$120.7M |
| Patrimonio Neto | $15.3M | $62.3M | $52.0M | $57.2M | $91.0M |
| Deuda Total | $87.7M | $108.6M | $76.3M | $92.7M | $93.9M |
| Deuda Neta | $43.5M | -$62.8M | -$123.3M | -$111.1M | -$39.8M |
| Capital Circulante | -$662.6M | -$565.1M | -$649.0M | -$645.1M | -$319.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $151.8M | $133.8M | $61.9M | $4.8M |
| Activos Totales | $1.64B | $1.60B | $1.56B | $1.55B |
| Pasivos Totales | $1.51B | $1.51B | $1.49B | $1.49B |
| Patrimonio Neto | $131.2M | $91.0M | $67.4M | $60.8M |
| Deuda Total | $91.1M | $93.9M | $109.4M | $110.1M |
Flujo de Caja (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $28.7M | $48.3M | -$16.5M | $5.6M | -$60.8M |
| Amortizaciones | $792000 | $559000 | $972000 | $1.2M | $3.6M |
| Compensación en Acciones | 0 | 0 | 0 | $1.2M | $2.0M |
| Cambio en Capital Circulante | -$86.3M | -$34.9M | $146.6M | $14.0M | $8.0M |
| Flujo de Caja Operativo | -$56.5M | $118.8M | $101.3M | $27.8M | -$22.2M |
| Inversiones (CapEx) | -$10.6M | 0 | 0 | 0 | 0 |
| Adquisiciones | $123.2M | 0 | 0 | 0 | $36.8M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$1.4M |
| Dividendos Pagados | -$1.2M | -$1.4M | -$1.4M | -$1.5M | -$1.6M |
| Flujo de Caja Libre | -$67.1M | $118.8M | $101.3M | $27.8M | -$22.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$62.0M | $3.5M | -$24.4M | -$7.1M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$62.0M | $3.5M | -$24.4M | -$7.1M |
| Dividendos Pagados | -$427000 | -$384000 | 0 | -$669000 |
| Compensación en Acciones | $884000 | 0 | 0 | $79000 |
Crecimiento y Márgenes (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +128.5% | +325.9% | -8.9% | -106.3% |
| Crecimiento Beneficio Neto (anual) | | +68.2% | -134.1% | +134.0% | -1188.7% |
| Crecimiento BPA (anual) | | +40.6% | -131.7% | +131.9% | -3318.2% |
| Cambio en Acciones (anual) | | +20.5% | +6.5% | +17.7% | -69.5% |
| Crecimiento FCF (anual) | | +277.1% | -14.7% | -72.6% | -179.8% |
| Margen Bruto | 118.1% | 57.5% | 21.0% | 31.2% | 480.5% |
| Margen Operativo | 150.7% | 15.8% | 5.9% | 15.3% | 717.0% |
| Margen EBITDA | 156.5% | 104.9% | -4.1% | 9.2% | 274.8% |
| Margen Neto | 130.2% | 95.8% | -7.7% | 2.9% | 489.9% |
| Margen FCF | -303.9% | 235.6% | 47.2% | 14.2% | 178.6% |
| Tasa Impositiva Efectiva | 6.9% | 0.9% | -4.2% | 9.0% | -4.1% |
Datos por Acción (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-3.59 | $5.28 | $4.23 | $0.99 | $-2.58 |
| Dividendo por Acción | $0.07 | $0.06 | $0.06 | $0.05 | $0.19 |
| Acciones en Circulación (Básicas) | $18.6M | $22.2M | $23.9M | $25.8M | $8.6M |
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 | -61.99% |
| Rentabilidad sobre capital invertido | 11.19% |
| Rentabilidad sobre activos | -3.51% |
| Margen bruto | 86.64% |
| Margen operativo | 114.79% |
| Margen neto | 50.79% |
Salud financiera
| Deuda / Patrimonio | 1.81 |
| Ratio corriente | 0.00 |
Ratios Clave (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 3.03 | 2.15 | -6.80 | 21.32 | -1.17 |
| P/VC | 5.69 | 1.67 | 2.16 | 2.12 | 0.78 |
| P/V | 3.95 | 2.06 | 0.52 | 0.62 | -5.71 |
| Margen Bruto | 118.1% | 57.5% | 21.0% | 31.2% | 480.5% |
| Margen Operativo | 150.7% | 15.8% | 5.9% | 15.3% | 717.0% |
| Margen Neto | 130.2% | 95.8% | -7.7% | 2.9% | 489.9% |