Estados financieros detallados de NCR Atleos Corporation (NATL): 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
NCR Atleos Corporation registró ingresos de $4.35B en el último ejercicio fiscal, con un CAGR de 5 años del 7.8%. El beneficio neto alcanzó $162.0M, con un CAGR a 5 años del -3.2%.
Márgenes de los últimos 12 meses: margen bruto 25.3%, margen operativo 11.5%, margen neto 4.4%. El flujo de caja libre creció a un CAGR del -8.9% en 5 años.
Al precio actual de $46.25, NATL cotiza a un P/E de 17.50 y un ROE del 49.22%. La capitalización bursátil es de $3.4B.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $2.99B | $3.55B | $4.13B | $4.19B | $4.32B | $4.35B |
| Coste de Ventas | $2.32B | $2.66B | $3.21B | $3.26B | $3.28B | $3.29B |
| Beneficio Bruto | $670.0M | $892.0M | $919.0M | $933.0M | $1.03B | $1.06B |
| I+D | $87.0M | $107.0M | $64.0M | $77.0M | $66.0M | $70.0M |
| Generales y Administrativos | $367.0M | $537.0M | $649.0M | $585.0M | $458.0M | $513.0M |
| Gastos Operativos | $454.0M | $644.0M | $650.0M | $662.0M | $584.0M | $583.0M |
| Beneficio Operativo | $216.0M | $248.0M | $269.0M | $271.0M | $449.0M | $478.0M |
| EBITDA | $279.0M | $459.0M | $447.0M | $451.0M | $449.0M | $736.0M |
| Gastos por Intereses | $6.0M | $49.0M | $31.0M | $90.0M | $327.0M | $270.0M |
| Beneficio Antes de Impuestos | $240.0M | $251.0M | $157.0M | $107.0M | $139.0M | $189.0M |
| Impuestos | $48.0M | $64.0M | $50.0M | $239.0M | $47.0M | $27.0M |
| Beneficio Neto | $191.0M | $186.0M | $108.0M | -$134.0M | $91.0M | $162.0M |
| BPA | $2.74 | $2.66 | $1.58 | $-1.90 | $1.26 | $2.20 |
| BPA Diluido | $2.74 | $2.66 | $1.58 | $-1.90 | $1.23 | $2.14 |
| Acciones en Circulación (Diluidas) | $69.8M | $69.8M | $68.4M | $70.6M | $74.2M | $75.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $1.12B | $1.15B | $1.04B | $1.10B |
| Beneficio Bruto | $271.0M | $306.0M | $234.0M | $309.0M |
| Beneficio Operativo | $110.0M | $156.0M | $84.0M | $156.0M |
| EBITDA | $171.0M | $209.0M | $170.0M | $232.0M |
| Beneficio Neto | $26.0M | $83.0M | $22.0M | $65.0M |
| BPA | $0.33 | $1.13 | $0.30 | $0.88 |
| BPA Diluido | $0.32 | $1.09 | $0.29 | $0.86 |
Balance (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $238.0M | $293.0M | $339.0M | $419.0M | $456.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $437.0M | $502.0M | $714.0M | $588.0M | $550.0M |
| Inventario | $467.0M | $419.0M | $333.0M | $307.0M | $342.0M |
| Activos Corrientes | $1.58B | $1.65B | $1.90B | $1.77B | $1.82B |
| Inmovilizado Material | $528.0M | $497.0M | $614.0M | $618.0M | $688.0M |
| Fondo de Comercio | $1.91B | $1.95B | $1.95B | $1.95B | $1.96B |
| Activos Intangibles | $815.0M | $729.0M | $635.0M | $550.0M | $498.0M |
| Activos Totales | $5.58B | $5.77B | $5.74B | $5.55B | $5.67B |
| Cuentas por Pagar | $389.0M | $350.0M | $500.0M | $562.0M | $617.0M |
| Deuda a Corto | $208.0M | $108.0M | $76.0M | $81.0M | $86.0M |
| Pasivos Corrientes | $1.63B | $1.37B | $1.75B | $1.70B | $1.90B |
| Deuda a Largo | $1.18B | $717.0M | $2.94B | $2.85B | $2.67B |
| Pasivos Totales | $3.24B | $2.51B | $5.45B | $5.29B | $5.27B |
| Reservas | 0 | 0 | $181.0M | $231.0M | $299.0M |
| Patrimonio Neto | $2.33B | $3.26B | $284.0M | $260.0M | $403.0M |
| Deuda Total | $1.46B | $884.0M | $3.12B | $3.05B | $2.90B |
| Deuda Neta | $1.22B | $591.0M | $2.78B | $2.63B | $2.44B |
| Capital Circulante | -$49.0M | $280.0M | $148.0M | $64.0M | -$75.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $412.0M | $456.0M | $433.0M | $429.0M |
| Activos Totales | $5.65B | $5.67B | $5.64B | $5.66B |
| Pasivos Totales | $5.32B | $5.27B | $5.25B | $5.20B |
| Patrimonio Neto | $330.0M | $403.0M | $396.0M | $464.0M |
| Deuda Total | $3.00B | $2.90B | $2.93B | $2.94B |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $192.0M | $187.0M | $107.0M | -$132.0M | $92.0M | $162.0M |
| Amortizaciones | $33.0M | $159.0M | $259.0M | $254.0M | $287.0M | $277.0M |
| Compensación en Acciones | $48.0M | $82.0M | $66.0M | $68.0M | $38.0M | $34.0M |
| Cambio en Capital Circulante | $155.0M | $2.0M | -$130.0M | $88.0M | -$74.0M | -$86.0M |
| Flujo de Caja Operativo | $410.0M | $449.0M | $274.0M | $355.0M | $344.0M | $356.0M |
| Inversiones (CapEx) | -$30.0M | -$111.0M | -$97.0M | -$132.0M | -$139.0M | -$117.0M |
| Adquisiciones | 0 | -$2.35B | -$78.0M | -$1.0M | $1.0M | -$17.0M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | -$28.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $380.0M | $338.0M | $177.0M | $223.0M | $205.0M | $239.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $25.0M | $231.0M | -$9.0M | $21.0M |
| Inversiones (CapEx) | -$43.0M | -$37.0M | -$27.0M | -$53.0M |
| Flujo de Caja Libre | -$18.0M | $194.0M | -$36.0M | -$32.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $8.0M | $9.0M | 0 | $17.0M |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +18.7% | +16.4% | +1.5% | +3.0% | +0.9% |
| Crecimiento Beneficio Neto (anual) | | -2.6% | -41.9% | -224.1% | +167.9% | +78.0% |
| Crecimiento BPA (anual) | | -2.9% | -40.6% | -220.3% | +166.3% | +74.6% |
| Cambio en Acciones (anual) | | +0.0% | -2.0% | +3.2% | +5.1% | +1.9% |
| Crecimiento FCF (anual) | | -11.1% | -47.6% | +26.0% | -8.1% | +16.6% |
| Margen Bruto | 22.4% | 25.1% | 22.2% | 22.3% | 23.9% | 24.4% |
| Margen Operativo | 7.2% | 7.0% | 6.5% | 6.5% | 10.4% | 11.0% |
| Margen EBITDA | 9.3% | 12.9% | 10.8% | 10.8% | 10.4% | 16.9% |
| Margen Neto | 6.4% | 5.2% | 2.6% | -3.2% | 2.1% | 3.7% |
| Margen FCF | 12.7% | 9.5% | 4.3% | 5.3% | 4.7% | 5.5% |
| Tasa Impositiva Efectiva | 20.0% | 25.5% | 31.8% | 223.4% | 33.8% | 14.3% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $5.44 | $4.84 | $2.59 | $3.16 | $2.76 | $3.16 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $69.8M | $69.8M | $68.4M | $70.6M | $72.2M | $73.5M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | 49.22% |
| Rentabilidad sobre capital invertido | 10.90% |
| Rentabilidad sobre activos | 3.46% |
| Margen bruto | 25.35% |
| Margen operativo | 11.45% |
| Margen neto | 4.44% |
Salud financiera
| Deuda / Patrimonio | 6.33 |
| Ratio corriente | 1.03 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 1.42 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 8.17 | 8.41 | 14.16 | -12.78 | 26.92 | 17.32 |
| P/VC | 0.00 | 0.67 | 0.47 | 6.04 | 9.42 | 6.95 |
| P/V | 0.52 | 0.44 | 0.37 | 0.41 | 0.57 | 0.64 |
| Margen Bruto | 22.4% | 25.1% | 22.2% | 22.3% | 23.9% | 24.4% |
| Margen Operativo | 7.2% | 7.0% | 6.5% | 6.5% | 10.4% | 11.0% |
| Margen Neto | 6.4% | 5.2% | 2.6% | -3.2% | 2.1% | 3.7% |