Estados financieros detallados de Natural Alternatives International, Inc. (NAII): 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
Natural Alternatives International, Inc. registró ingresos de $129.9M en el último ejercicio fiscal, con un CAGR de 5 años del 1.8%.
Márgenes de los últimos 12 meses: margen bruto 7.0%, margen operativo -5.7%, margen neto -10.2%.
Al precio actual de $1.98, NAII presenta beneficios negativos (P/E no significativo) y un ROE del -21.48%. La capitalización bursátil es de $12M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $114.2M | $121.9M | $132.4M | $138.3M | $118.9M | $178.5M | $171.0M | $154.0M | $113.8M | $129.9M |
| Coste de Ventas | $88.9M | $95.7M | $106.1M | $114.7M | $100.0M | $148.1M | $140.5M | $135.9M | $106.9M | $120.6M |
| Beneficio Bruto | $25.3M | $26.2M | $26.3M | $23.6M | $18.9M | $30.4M | $30.5M | $18.2M | $6.9M | $9.3M |
| I+D | $1.1M | $1.6M | $1.5M | $1.8M | $1.8M | $1.9M | $2.5M | $2.1M | $1.9M | $1.8M |
| Generales y Administrativos | $13.0M | $16.5M | $16.8M | $17.6M | $18.4M | $16.8M | $16.9M | $14.9M | $15.4M | $16.5M |
| Gastos Operativos | $13.0M | $16.5M | $16.8M | $17.6M | $20.4M | $16.8M | $16.8M | $13.4M | $15.4M | $17.9M |
| Beneficio Operativo | $12.3M | $9.7M | $9.5M | $6.0M | -$1.5M | $13.7M | $13.7M | $4.7M | -$8.5M | -$8.7M |
| EBITDA | $16.0M | $16.3M | $15.3M | $11.8M | $4.5M | $16.6M | $20.7M | $11.1M | -$4.5M | -$2.7M |
| Gastos por Intereses | 0 | $3000 | $9000 | $29000 | $67000 | $118000 | $83000 | $451000 | $361000 | $915000 |
| Beneficio Antes de Impuestos | $13.6M | $10.1M | $10.6M | $8.0M | -$1.7M | $12.1M | $13.7M | $3.6M | -$9.5M | -$10.7M |
| Impuestos | $4.0M | $2.9M | $5.6M | $1.4M | -$93000 | $1.4M | $2.9M | $1.0M | -$2.2M | $2.8M |
| Beneficio Neto | $9.5M | $7.2M | $5.1M | $6.5M | -$1.6M | $10.8M | $10.7M | $2.5M | -$7.2M | -$13.6M |
| BPA | $1.46 | $1.10 | $0.76 | $0.96 | $-0.25 | $1.71 | $1.75 | $0.43 | $-1.23 | $-2.28 |
| BPA Diluido | $1.44 | $1.09 | $0.73 | $0.92 | $-0.25 | $1.69 | $1.74 | $0.43 | $-1.23 | $-2.28 |
| Acciones en Circulación (Diluidas) | $6.6M | $6.7M | $6.9M | $7.1M | $6.7M | $6.4M | $6.2M | $5.9M | $5.9M | $5.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Ingresos | $33.9M | $37.3M | $34.5M | $35.3M |
| Beneficio Bruto | $3.5M | $4.0M | $2.2M | $196000 |
| Beneficio Operativo | -$1.9M | -$17000 | -$2.0M | -$4.1M |
| EBITDA | $616000 | $1.2M | -$939000 | -$2.8M |
| Beneficio Neto | -$7.2M | -$291000 | -$2.6M | -$4.3M |
| BPA | $-1.17 | $-0.05 | $-0.42 | $-0.72 |
| BPA Diluido | $-1.17 | $-0.05 | $-0.42 | $-0.72 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $19.7M | $27.8M | $23.6M | $25.0M | $30.5M | $32.1M | $21.8M | $13.6M | $12.0M | $12.3M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $13.2M | $8.7M | $14.6M | $16.9M | $17.8M | $19.0M | $17.5M | $7.3M | $16.9M | $14.9M |
| Inventario | $20.8M | $13.7M | $23.6M | $26.0M | $28.0M | $27.0M | $32.5M | $29.7M | $24.2M | $24.9M |
| Activos Corrientes | $55.9M | $51.7M | $65.2M | $71.4M | $79.0M | $80.3M | $76.7M | $57.0M | $61.6M | $59.3M |
| Inmovilizado Material | $15.2M | $18.1M | $19.3M | $21.1M | $39.9M | $38.1M | $66.3M | $74.2M | $95.7M | $91.9M |
| 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 | $74.2M | $72.6M | $85.2M | $93.5M | $120.2M | $120.3M | $146.0M | $134.2M | $162.3M | $151.9M |
| Cuentas por Pagar | $12.8M | $5.1M | $9.6M | $8.6M | $12.5M | $11.9M | $16.2M | $7.8M | $12.7M | $15.4M |
| Deuda a Corto | 0 | 0 | 0 | 0 | $10.0M | 0 | $302000 | $312000 | $3.7M | $2.2M |
| Pasivos Corrientes | $19.2M | $10.3M | $14.3M | $14.2M | $27.8M | $22.1M | $23.9M | $15.9M | $23.5M | $28.8M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | $9.5M | $9.2M | $8.9M | $8.6M |
| Pasivos Totales | $20.4M | $11.5M | $17.0M | $17.4M | $48.8M | $40.2M | $57.5M | $45.4M | $79.7M | $83.5M |
| Reservas | $38.6M | $45.8M | $50.8M | $57.4M | $56.2M | $66.9M | $77.7M | $80.2M | $73.0M | $59.4M |
| Patrimonio Neto | $53.7M | $61.1M | $68.2M | $76.1M | $71.4M | $80.1M | $88.5M | $88.8M | $82.6M | $68.4M |
| Deuda Total | 0 | 0 | 0 | 0 | $28.8M | $16.5M | $31.8M | $30.9M | $60.3M | $59.0M |
| Deuda Neta | -$19.7M | -$27.8M | -$23.6M | -$25.0M | -$1.7M | -$15.7M | $10.0M | $17.3M | $48.3M | $46.7M |
| Capital Circulante | $36.7M | $41.4M | $50.9M | $57.1M | $51.2M | $58.3M | $52.9M | $41.1M | $38.1M | $30.5M |
Balance (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Caja y Equivalentes | $12.3M | $7.7M | $3.8M | $9.2M |
| Activos Totales | $151.9M | $156.9M | $153.3M | $154.9M |
| Pasivos Totales | $83.5M | $87.9M | $86.3M | $91.8M |
| Patrimonio Neto | $68.4M | $69.0M | $67.0M | $63.1M |
| Deuda Total | $59.0M | $104.3M | $106.5M | $65.2M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $9.5M | $7.2M | $5.1M | $6.5M | -$1.6M | $10.8M | $10.7M | $2.5M | -$7.2M | -$13.6M |
| Amortizaciones | $1.8M | $2.4M | $2.9M | $3.5M | $4.0M | $4.3M | $4.2M | $4.2M | $4.6M | $4.6M |
| Compensación en Acciones | $724000 | $1.0M | $1.3M | $1.7M | $1.7M | $1.4M | $968000 | $1.0M | $1.2M | $977000 |
| Cambio en Capital Circulante | -$809000 | $2.9M | -$10.4M | -$5.5M | -$5.6M | $1.1M | -$7.4M | -$1.2M | -$3.3M | $1.6M |
| Flujo de Caja Operativo | $9.3M | $14.1M | $1.8M | $6.6M | $3.7M | $20.8M | $11.9M | $7.0M | -$1.5M | $5.9M |
| Inversiones (CapEx) | -$10.4M | -$5.4M | -$4.1M | -$5.3M | -$4.5M | -$5.1M | -$26.5M | -$13.5M | -$3.0M | -$3.6M |
| Adquisiciones | $3.0M | $25000 | $28000 | $19000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$648000 | -$712000 | -$510000 | -$1.4M | -$3.7M | -$4.1M | -$5.5M | -$1.5M | -$221000 | -$178000 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$1.2M | $8.8M | -$2.2M | $1.2M | -$850000 | $15.7M | -$14.6M | -$6.5M | -$4.5M | $2.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Flujo de Caja Operativo | $3.3M | -$4.0M | -$6.3M | $2.5M |
| Inversiones (CapEx) | -$1.5M | -$1.0M | -$934000 | -$1.1M |
| Flujo de Caja Libre | $1.9M | -$5.1M | -$7.3M | $1.4M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $179000 | $177000 | $176000 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +6.8% | +8.6% | +4.4% | -14.0% | +50.2% | -4.2% | -9.9% | -26.1% | +14.1% |
| Crecimiento Beneficio Neto (anual) | | -24.2% | -30.2% | +29.5% | -125.1% | +754.6% | -0.5% | -76.5% | -386.2% | -88.1% |
| Crecimiento BPA (anual) | | -24.7% | -30.9% | +26.3% | -126.0% | +784.0% | +2.3% | -75.4% | -386.0% | -85.4% |
| Cambio en Acciones (anual) | | +0.2% | +3.5% | +3.1% | -5.7% | -4.7% | -3.5% | -4.5% | -0.1% | +1.3% |
| Crecimiento FCF (anual) | | +859.8% | -125.6% | +155.0% | -168.7% | +1946.9% | -193.1% | +55.5% | +30.6% | +151.4% |
| Margen Bruto | 22.1% | 21.5% | 19.9% | 17.0% | 15.9% | 17.1% | 17.8% | 11.8% | 6.0% | 7.2% |
| Margen Operativo | 10.7% | 8.0% | 7.2% | 4.3% | -1.3% | 7.7% | 8.0% | 3.1% | -7.5% | -6.7% |
| Margen EBITDA | 14.0% | 13.4% | 11.6% | 8.6% | 3.7% | 9.3% | 12.1% | 7.2% | -3.9% | -2.1% |
| Margen Neto | 8.4% | 5.9% | 3.8% | 4.7% | -1.4% | 6.0% | 6.3% | 1.6% | -6.3% | -10.5% |
| Margen FCF | -1.0% | 7.2% | -1.7% | 0.9% | -0.7% | 8.8% | -8.6% | -4.2% | -4.0% | 1.8% |
| Tasa Impositiva Efectiva | 29.7% | 28.4% | 52.4% | 17.8% | 5.4% | 11.2% | 21.6% | 29.1% | 23.7% | -26.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.17 | $1.32 | $-0.33 | $0.17 | $-0.13 | $2.46 | $-2.38 | $-1.11 | $-0.77 | $0.39 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $6.5M | $6.6M | $6.6M | $6.8M | $6.7M | $6.3M | $6.1M | $5.9M | $5.9M | $5.9M |
Qué mirar en empresas de Consumer Defensive
- Margen bruto (estable 5a) (Estable ≥35%) — Pricing power de marca — Coca-Cola no pierde margen ni en crisis.
- ROE / ROIC estables (ROE ≥15% estable) — Defensivas tienen ROE alto consistente — los 'stalwarts' de Lynch.
- FCF / Beneficio Neto (≥90%) — Conversión de beneficios a caja — los mejores superan 95%.
- Crecimiento del dividendo 10a (≥6%/año) — Los Dividend Aristocrats suben 25+ años — señal de moat.
- Payout Ratio (<75%) — >80% = dividendo en riesgo. <60% cómodo.
- Deuda Neta / EBITDA (<2,5x) — Una defensiva con mucha deuda pierde su esencia.
Rentabilidad
| Rentabilidad sobre capital | -21.48% |
| Rentabilidad sobre capital invertido | -6.31% |
| Rentabilidad sobre activos | -9.28% |
| Margen bruto | 7.04% |
| Margen operativo | -5.74% |
| Margen neto | -10.19% |
Salud financiera
| Deuda / Patrimonio | 1.03 |
| Ratio corriente | 1.64 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 7.56 | 9.05 | 13.36 | 12.25 | -27.36 | 9.84 | 5.97 | 16.74 | -4.63 | -1.44 |
| P/VC | 1.34 | 1.07 | 0.99 | 1.05 | 0.64 | 1.32 | 0.72 | 0.48 | 0.40 | 0.29 |
| P/V | 0.63 | 0.54 | 0.51 | 0.58 | 0.39 | 0.59 | 0.37 | 0.27 | 0.29 | 0.15 |
| Margen Bruto | 22.1% | 21.5% | 19.9% | 17.0% | 15.9% | 17.1% | 17.8% | 11.8% | 6.0% | 7.2% |
| Margen Operativo | 10.7% | 8.0% | 7.2% | 4.3% | -1.3% | 7.7% | 8.0% | 3.1% | -7.5% | -6.7% |
| Margen Neto | 8.4% | 5.9% | 3.8% | 4.7% | -1.4% | 6.0% | 6.3% | 1.6% | -6.3% | -10.5% |