Estados financieros detallados de Nature's Sunshine Products, Inc. (NATR): 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
Nature's Sunshine Products, Inc. registró ingresos de $480.1M en el último ejercicio fiscal, con un CAGR de 5 años del 4.5%. El beneficio neto alcanzó $19.5M, con un CAGR a 5 años del -1.8%.
Márgenes de los últimos 12 meses: margen bruto 73.2%, margen operativo 6.0%, margen neto 3.7%. El flujo de caja libre creció a un CAGR del -2.5% en 5 años.
Al precio actual de $13.09, NATR cotiza a un P/E de 12.58 y un ROE del 11.00%. La capitalización bursátil es de $230M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $341.2M | $342.0M | $364.8M | $362.2M | $385.2M | $444.1M | $421.9M | $445.3M | $454.4M | $480.1M |
| Coste de Ventas | $90.9M | $91.0M | $95.7M | $93.9M | $101.3M | $115.5M | $122.2M | $124.2M | $129.7M | $132.4M |
| Beneficio Bruto | $250.2M | $251.0M | $269.1M | $268.3M | $283.9M | $328.6M | $299.8M | $321.1M | $324.7M | $347.7M |
| I+D | $3.2M | $3.4M | $2.8M | 0 | 0 | 0 | $1.5M | 0 | $1.7M | 0 |
| Generales y Administrativos | $240.2M | $249.6M | $263.8M | $252.2M | $262.4M | $293.9M | $283.5M | $302.4M | $304.6M | $323.0M |
| Gastos Operativos | $240.2M | $249.6M | $263.8M | $252.2M | $262.4M | $293.9M | $283.5M | $302.4M | $304.6M | $323.0M |
| Beneficio Operativo | $10.0M | $1.4M | $5.4M | $16.1M | $21.5M | $34.7M | $16.3M | $18.7M | $20.1M | $24.7M |
| EBITDA | $14.8M | $10.0M | $13.5M | $26.3M | $33.7M | $43.2M | $31.1M | $32.1M | $32.8M | $43.8M |
| Gastos por Intereses | $16000 | $289000 | $387000 | $43000 | $102000 | $250000 | $249000 | $69000 | $146000 | $98000 |
| Beneficio Antes de Impuestos | $9.3M | $3.2M | $3.2M | $15.6M | $22.8M | $31.8M | $15.2M | $20.2M | $18.4M | $29.8M |
| Impuestos | $8.6M | $17.0M | $4.4M | $8.7M | -$137000 | $1.6M | $14.7M | $3.8M | $10.5M | $9.4M |
| Beneficio Neto | $2.1M | -$12.9M | -$854000 | $6.8M | $21.3M | $28.9M | -$390000 | $15.1M | $7.7M | $19.5M |
| BPA | $0.11 | $-0.69 | $-0.04 | $0.35 | $1.09 | $1.45 | $-0.02 | $0.79 | $0.41 | $1.08 |
| BPA Diluido | $0.11 | $-0.69 | $-0.04 | $0.34 | $1.07 | $1.42 | $-0.02 | $0.77 | $0.40 | $1.06 |
| Acciones en Circulación (Diluidas) | $19.1M | $18.9M | $19.1M | $19.7M | $20.0M | $20.3M | $19.3M | $19.5M | $18.6M | $18.5M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $32.3M | $42.9M | $50.6M | $53.6M | $92.1M | $86.2M | $60.0M | $82.4M | $84.7M | $93.9M |
| Inversiones a Corto | $1.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $7.7M | $8.9M | $7.8M | $7.3M | $7.4M | $8.9M | $14.1M | $8.8M | $9.5M | $8.6M |
| Inventario | $47.6M | $44.0M | $42.0M | $46.7M | $47.7M | $60.9M | $67.9M | $66.9M | $59.4M | $68.3M |
| Activos Corrientes | $100.1M | $102.5M | $106.8M | $112.7M | $154.1M | $164.7M | $149.5M | $165.8M | $160.6M | $178.8M |
| Inmovilizado Material | $73.3M | $69.1M | $64.1M | $83.5M | $74.6M | $69.2M | $62.3M | $58.4M | $52.4M | $50.5M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $976000 | $709000 | $618000 | $567000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $205.6M | $195.2M | $193.0M | $213.1M | $249.5M | $258.9M | $229.8M | $249.8M | $240.9M | $261.1M |
| Cuentas por Pagar | $5.3M | $4.2M | $5.2M | $4.4M | $6.5M | $9.7M | $6.3M | $7.9M | $8.9M | $8.0M |
| Deuda a Corto | $9.9M | $506000 | $1.5M | $1.5M | $2.5M | $1.5M | $1.2M | 0 | 0 | 0 |
| Pasivos Corrientes | $63.0M | $53.7M | $66.7M | $57.9M | $69.7M | $76.7M | $65.6M | $76.8M | $65.7M | $78.5M |
| Deuda a Largo | 0 | $13.2M | 0 | 0 | $2.4M | $1.2M | 0 | 0 | 0 | 0 |
| Pasivos Totales | $73.2M | $75.5M | $72.4M | $83.6M | $92.3M | $97.5M | $82.7M | $90.2M | $79.9M | $99.6M |
| Reservas | $12.7M | -$2.1M | -$2.1M | $4.7M | $26.0M | $35.0M | $34.6M | $49.7M | $57.4M | $76.9M |
| Patrimonio Neto | $131.1M | $119.3M | $120.5M | $129.2M | $155.4M | $158.2M | $142.9M | $154.1M | $155.3M | $161.6M |
| Deuda Total | $9.9M | $13.7M | $1.5M | $26.7M | $26.3M | $23.0M | $19.2M | $14.9M | $14.2M | $18.9M |
| Deuda Neta | -$24.1M | -$29.2M | -$49.1M | -$27.0M | -$65.7M | -$63.2M | -$40.8M | -$67.5M | -$70.5M | -$75.0M |
| Capital Circulante | $37.1M | $48.9M | $40.1M | $54.8M | $84.4M | $88.0M | $83.9M | $89.1M | $94.9M | $100.3M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | $675000 | -$13.8M | -$1.2M | $6.9M | $23.0M | $30.2M | $550000 | $15.1M | $7.9M | $20.5M |
| Amortizaciones | $4.8M | $8.6M | $9.8M | $10.6M | $10.7M | $11.2M | $11.0M | $11.8M | $14.2M | $13.8M |
| Compensación en Acciones | $3.2M | $2.2M | $2.2M | $2.1M | $3.8M | $3.7M | $2.9M | $4.9M | $4.8M | $5.8M |
| Cambio en Capital Circulante | -$7.7M | $1.3M | $11.9M | -$21.7M | $793000 | -$14.7M | -$27.3M | $13.2M | -$8.5M | -$3.1M |
| Flujo de Caja Operativo | $3.4M | $10.5M | $21.8M | $8.5M | $37.7M | $34.6M | $710000 | $41.2M | $25.3M | $35.3M |
| Inversiones (CapEx) | -$11.5M | -$5.5M | -$4.8M | -$5.1M | -$4.9M | -$6.7M | -$7.6M | -$10.5M | -$11.0M | -$6.5M |
| Adquisiciones | 0 | $521000 | $5.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | -$7.4M | -$13.6M | -$6.4M | -$8.9M | -$16.3M |
| Dividendos Pagados | -$7.5M | -$1.8M | 0 | 0 | 0 | -$19.9M | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$8.1M | $5.0M | $17.0M | $3.4M | $32.8M | $27.9M | -$6.9M | $30.7M | $14.3M | $28.8M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +0.3% | +6.7% | -0.7% | +6.3% | +15.3% | -5.0% | +5.5% | +2.0% | +5.7% | |
| Crecimiento Beneficio Neto (anual) | -705.0% | +93.4% | +892.2% | +215.4% | +35.2% | -101.4% | +3965.6% | -49.0% | +153.7% | |
| Crecimiento BPA (anual) | -727.3% | +93.5% | +883.0% | +211.4% | +33.0% | -101.4% | +4050.0% | -48.1% | +163.4% | |
| Cambio en Acciones (anual) | -0.9% | +1.3% | +2.8% | +1.6% | +1.8% | -4.9% | +0.7% | -4.4% | -0.8% | |
| Crecimiento FCF (anual) | +161.9% | +238.4% | -79.8% | +851.9% | -14.7% | -124.8% | +544.5% | -53.4% | +101.3% | |
| Margen Bruto | 73.3% | 73.4% | 73.8% | 74.1% | 73.7% | 74.0% | 71.0% | 72.1% | 71.5% | 72.4% |
| Margen Operativo | 2.9% | 0.4% | 1.5% | 4.5% | 5.6% | 7.8% | 3.9% | 4.2% | 4.4% | 5.2% |
| Margen EBITDA | 4.4% | 2.9% | 3.7% | 7.3% | 8.7% | 9.7% | 7.4% | 7.2% | 7.2% | 9.1% |
| Margen Neto | 0.6% | -3.8% | -0.2% | 1.9% | 5.5% | 6.5% | -0.1% | 3.4% | 1.7% | 4.1% |
| Margen FCF | -2.4% | 1.5% | 4.7% | 0.9% | 8.5% | 6.3% | -1.6% | 6.9% | 3.2% | 6.0% |
| Tasa Impositiva Efectiva | 92.7% | 528.8% | 137.6% | 55.7% | -0.6% | 5.1% | 96.4% | 18.7% | 57.2% | 31.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $-0.43 | $0.27 | $0.89 | $0.17 | $1.64 | $1.37 | $-0.36 | $1.58 | $0.77 | $1.56 |
| Dividendo por Acción | $0.39 | $0.10 | $0.00 | $0.00 | $0.00 | $0.98 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $18.7M | $18.8M | $19.1M | $19.3M | $19.5M | $19.9M | $19.3M | $19.1M | $18.6M | $18.0M |
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 | 11.00% |
| Rentabilidad sobre capital invertido | 9.78% |
| Rentabilidad sobre activos | 6.97% |
| Margen bruto | 73.16% |
| Margen operativo | 5.96% |
| Margen neto | 3.68% |
Salud financiera
| Deuda / Patrimonio | 0.13 |
| Ratio corriente | 2.60 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 136.36 | -16.74 | -182.33 | 25.51 | 13.72 | 12.76 | -416.00 | 21.89 | 35.76 | 19.98 |
| P/VC | 2.14 | 1.82 | 1.29 | 1.33 | 1.88 | 2.32 | 1.13 | 2.14 | 1.76 | 2.41 |
| P/V | 0.82 | 0.63 | 0.43 | 0.48 | 0.76 | 0.83 | 0.38 | 0.74 | 0.60 | 0.81 |
| Margen Bruto | 73.3% | 73.4% | 73.8% | 74.1% | 73.7% | 74.0% | 71.0% | 72.1% | 71.5% | 72.4% |
| Margen Operativo | 2.9% | 0.4% | 1.5% | 4.5% | 5.6% | 7.8% | 3.9% | 4.2% | 4.4% | 5.2% |
| Margen Neto | 0.6% | -3.8% | -0.2% | 1.9% | 5.5% | 6.5% | -0.1% | 3.4% | 1.7% | 4.1% |
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