Estados financieros detallados de Namib Minerals (NAMM): 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 50.2%, margen operativo 136.5%, margen neto 125.4%.
Al precio actual de $1.27, NAMM cotiza a un P/E de 0.73 y un ROE del -186.04%. La capitalización bursátil es de $69M.
Cuenta de Resultados (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | $47.7M | $65.1M | $85.9M | $82.6M |
| Coste de Ventas | 0 | $36.9M | $42.6M | $47.1M | $48.4M |
| Beneficio Bruto | 0 | $10.7M | $22.5M | $38.8M | $34.2M |
| I+D | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $665000 | $6.2M | $8.5M | $18.9M | $22.2M |
| Gastos Operativos | $665000 | $7.3M | $4.9M | $24.1M | $21.9M |
| Beneficio Operativo | -$665000 | $3.4M | $17.6M | $14.7M | $12.3M |
| EBITDA | $2.5M | $11.8M | $14.0M | $20.2M | $117.7M |
| Gastos por Intereses | 0 | 0 | 0 | $1.5M | $2.0M |
| Beneficio Antes de Impuestos | $2.5M | $7.4M | $8.9M | $14.5M | $108.5M |
| Impuestos | 0 | $4.5M | $5.3M | $10.9M | $7.3M |
| Beneficio Neto | $2.5M | $2.9M | $3.6M | $3.6M | $101.2M |
| BPA | $0.06 | $0.05 | $0.07 | $0.07 | $1.96 |
| BPA Diluido | $0.06 | $0.05 | $0.07 | $0.07 | $1.84 |
| Acciones en Circulación (Diluidas) | $45.5M | $54.4M | $54.4M | $54.4M | $55.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Ingresos | $18.2M | $18.2M | $23.1M | $23.1M |
| Beneficio Bruto | $8.0M | $8.0M | $12.7M | $12.7M |
| Beneficio Operativo | -$1.4M | -$3.7M | $58.9M | $58.9M |
| EBITDA | -$2.1M | $657500 | $9.6M | $9.6M |
| Beneficio Neto | -$3.5M | -$5.9M | $56.5M | $56.5M |
| BPA | $-0.24 | $-0.12 | $1.05 | $1.05 |
| BPA Diluido | $-0.24 | $-0.12 | $0.94 | $0.94 |
Balance (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $2.0M | $59000 | $278000 | $698000 | $1.9M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | $7.1M | $1.0M | $4.5M | $9.1M |
| Inventario | 0 | $1.5M | $2.3M | $3.2M | $3.9M |
| Activos Corrientes | $2.8M | $9.2M | $4.3M | $9.0M | $16.2M |
| Inmovilizado Material | 0 | $31.9M | $35.8M | $42.0M | $46.5M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $343.7M | $41.4M | $41.0M | $51.0M | $62.8M |
| Cuentas por Pagar | 0 | $10.9M | $9.9M | $8.4M | $17.8M |
| Deuda a Corto | 0 | $494000 | $813000 | $1.5M | $3.2M |
| Pasivos Corrientes | $419000 | $33.2M | $41.3M | $46.0M | $53.6M |
| Deuda a Largo | 0 | $730000 | 0 | $1.4M | $2.0M |
| Pasivos Totales | $28.0M | $60.1M | $69.3M | $82.0M | $102.1M |
| Reservas | -$25.2M | -$18.7M | -$28.3M | -$30.9M | $70.5M |
| Patrimonio Neto | $315.8M | -$18.7M | -$28.3M | -$30.9M | -$39.3M |
| Deuda Total | 0 | $1.2M | $813000 | $2.9M | $5.2M |
| Deuda Neta | -$2.0M | $1.2M | $535000 | $2.2M | $3.3M |
| Capital Circulante | $2.4M | -$24.0M | -$36.9M | -$37.0M | -$37.4M |
Balance (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Caja y Equivalentes | $891000 | $1.3M | $1.9M | $1.9M |
| Activos Totales | $36.6M | $58.2M | $62.8M | $62.8M |
| Pasivos Totales | $27.7M | $211.4M | $102.1M | $102.1M |
| Patrimonio Neto | $9.0M | -$153.2M | -$39.3M | -$39.3M |
| Deuda Total | $11.9M | $4.6M | $5.2M | $5.2M |
Flujo de Caja (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $2.5M | $7.4M | $8.9M | $14.5M | $108.5M |
| Amortizaciones | 0 | $2.2M | $2.7M | $4.1M | $7.3M |
| Compensación en Acciones | 0 | 0 | 0 | $2.8M | $236000 |
| Cambio en Capital Circulante | -$475000 | $3.2M | -$3.6M | $76000 | $5.4M |
| Flujo de Caja Operativo | -$1.1M | $10.2M | $14.9M | $19.1M | $13.8M |
| Inversiones (CapEx) | 0 | -$7.0M | -$6.5M | -$10.0M | -$12.4M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | -$86.2M | -$236.7M | 0 |
| Dividendos Pagados | 0 | -$6.5M | -$7.9M | -$9.0M | 0 |
| Flujo de Caja Libre | -$1.1M | $3.1M | $8.4M | $9.1M | $1.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Flujo de Caja Operativo | -$172000 | $2.9M | $4.0M | $13.8M |
| Inversiones (CapEx) | 0 | -$2.8M | -$3.4M | -$11.3M |
| Flujo de Caja Libre | -$172000 | $80999 | $637499 | $2.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | $236000 | $236000 |
Crecimiento y Márgenes (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | +36.5% | +32.0% | -3.8% |
| Crecimiento Beneficio Neto (anual) | | +16.1% | +23.9% | -1.1% | +2720.0% |
| Crecimiento BPA (anual) | | -3.1% | +24.0% | -1.2% | +2874.2% |
| Cambio en Acciones (anual) | | +19.7% | +0.0% | +0.0% | +1.1% |
| Crecimiento FCF (anual) | | +373.9% | +168.4% | +9.1% | -84.3% |
| Margen Bruto | | 22.5% | 34.5% | 45.2% | 41.4% |
| Margen Operativo | | 7.2% | 27.0% | 17.1% | 14.9% |
| Margen EBITDA | | 24.7% | 21.5% | 23.5% | 142.5% |
| Margen Neto | | 6.1% | 5.6% | 4.2% | 122.5% |
| Margen FCF | | 6.6% | 12.9% | 10.6% | 1.7% |
| Tasa Impositiva Efectiva | 0.0% | 60.7% | 59.2% | 75.2% | 6.8% |
Datos por Acción (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.03 | $0.06 | $0.15 | $0.17 | $0.03 |
| Dividendo por Acción | $0.00 | $0.12 | $0.15 | $0.17 | $0.00 |
| Acciones en Circulación (Básicas) | $45.5M | $54.4M | $54.4M | $54.4M | $51.7M |
Qué mirar en Basic Materials
Mineras, químicas, acero. 100% commodity-driven. Analizar con P/E puro es un error — mira posición de costes y sostenibilidad del dividendo.
- FCF yield — En commodities el FCF es oro — EPS engaña mucho
- Margen bruto — Margen bruto consistente 5y = señal de moat
- Deuda neta / EBITDA (valle) — Usar EBITDA del peor año del ciclo, no el actual
- Dividend coverage — Dividendo cubierto por FCF en año medio, no en pico
- Capex / D&A — >1x = mantienen/crecen reservas. <0.7x = están descapitalizando
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
- P/B en ciclos — Commodities: 0.8-1.2x en valles, 2x+ en picos. <2x aún zona razonable
Rentabilidad
| Rentabilidad sobre capital | -186.04% |
| Rentabilidad sobre capital invertido | 863.09% |
| Rentabilidad sobre activos | 164.98% |
| Margen bruto | 50.17% |
| Margen operativo | 136.54% |
| Margen neto | 125.43% |
Salud financiera
| Deuda / Patrimonio | -0.13 |
| Ratio corriente | 0.30 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 3.13 |
Ratios Clave (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 198.20 | 204.46 | 164.92 | 166.92 | 0.52 |
| P/VC | 1.58 | -31.93 | -21.12 | -19.36 | -1.33 |
| P/V | 0.00 | 12.56 | 9.20 | 6.97 | 0.63 |
| Margen Bruto | 0.0% | 22.5% | 34.5% | 45.2% | 41.4% |
| Margen Operativo | 0.0% | 7.2% | 27.0% | 17.1% | 14.9% |
| Margen Neto | 0.0% | 6.1% | 5.6% | 4.2% | 122.5% |