Estados financieros detallados de NBT Bancorp Inc. (NBTB): 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
NBT Bancorp Inc. registró ingresos de $867.4M en el último ejercicio fiscal, con un CAGR de 5 años del 12.0%. El beneficio neto alcanzó $169.2M, con un CAGR a 5 años del 10.1%.
Márgenes de los últimos 12 meses: margen bruto 76.6%, margen operativo 29.3%, margen neto 22.7%. El flujo de caja libre creció a un CAGR del 9.8% en 5 años.
Al precio actual de $51.60, NBTB cotiza a un P/E de 12.72 y un ROE del 11.26%. La capitalización bursátil es de $2.7B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $399.2M | $425.1M | $464.8M | $507.4M | $491.3M | $494.8M | $537.0M | $662.3M | $786.0M | $867.4M |
| Coste de Ventas | $47.9M | $56.9M | $67.5M | $81.4M | $83.7M | $10.5M | $39.0M | $169.8M | $231.2M | $241.7M |
| Beneficio Bruto | $351.3M | $368.2M | $397.3M | $426.0M | $407.5M | $484.2M | $498.0M | $492.5M | $554.8M | $625.7M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $162.4M | $166.1M | $183.0M | $186.5M | $166.9M | $178.1M | $193.8M | $203.6M | $242.6M | $87.3M |
| Gastos Operativos | $232.5M | $240.1M | $260.3M | $270.6M | $274.4M | $284.4M | $301.8M | $339.0M | $375.4M | $406.3M |
| Beneficio Operativo | $118.8M | $128.2M | $137.0M | $155.4M | $133.1M | $199.9M | $196.2M | $153.5M | $179.5M | $219.4M |
| EBITDA | $131.8M | $141.2M | $150.3M | $175.7M | $153.6M | $219.7M | $215.2M | $175.7M | $207.0M | $241.0M |
| Gastos por Intereses | $22.5M | $25.9M | $38.6M | $56.0M | $32.6M | $18.8M | $21.9M | $144.6M | $211.5M | $209.4M |
| Beneficio Antes de Impuestos | $118.8M | $128.2M | $137.0M | $155.4M | $133.1M | $199.9M | $196.2M | $153.5M | $179.5M | $219.4M |
| Impuestos | $40.4M | $46.0M | $24.4M | $34.4M | $28.7M | $45.0M | $44.2M | $34.7M | $38.8M | $50.2M |
| Beneficio Neto | $78.4M | $82.2M | $112.6M | $121.0M | $104.4M | $154.9M | $152.0M | $118.8M | $140.6M | $169.2M |
| BPA | $1.81 | $1.89 | $2.58 | $2.76 | $2.39 | $3.57 | $3.54 | $2.67 | $2.98 | $3.34 |
| BPA Diluido | $1.80 | $1.87 | $2.56 | $2.74 | $2.37 | $3.54 | $3.52 | $2.65 | $2.96 | $3.33 |
| Acciones en Circulación (Diluidas) | $43.6M | $43.9M | $44.0M | $44.1M | $44.0M | $43.7M | $43.2M | $44.8M | $47.4M | $50.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $238.8M | $238.2M | $232.8M | $235.5M |
| Beneficio Bruto | $183.0M | $181.4M | $178.9M | $180.6M |
| Beneficio Operativo | $71.8M | $69.7M | $66.7M | $69.1M |
| EBITDA | $75.3M | $72.4M | $75.8M | $78.1M |
| Beneficio Neto | $54.5M | $55.5M | $51.1M | $53.0M |
| BPA | $1.04 | $1.06 | $0.98 | $1.02 |
| BPA Diluido | $1.03 | $1.06 | $0.98 | $1.01 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $149.2M | $159.7M | $181.0M | $216.8M | $672.7M | $1.27B | $197.3M | $205.2M | $284.1M | $185.2M |
| Inversiones a Corto | $1.34B | $1.26B | $998.5M | $975.3M | $1.35B | $1.69B | $1.53B | $1.43B | $136.4M | 0 |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $52.0M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $1.49B | $1.42B | $1.18B | $1.19B | $2.02B | $2.96B | $1.72B | $1.64B | $420.4M | $237.2M |
| Inmovilizado Material | $84.2M | $81.3M | $79.0M | $75.6M | $74.2M | $72.1M | $69.0M | $80.7M | $80.8M | $99.3M |
| Fondo de Comercio | $265.4M | $268.0M | $274.8M | $274.8M | $280.5M | $280.5M | $281.2M | $361.9M | $362.7M | $453.3M |
| Activos Intangibles | $15.8M | $13.4M | $15.6M | $12.0M | $11.7M | $8.9M | $7.3M | $40.4M | $36.4M | $57.7M |
| Activos Totales | $8.87B | $9.14B | $9.56B | $9.72B | $10.93B | $12.01B | $11.74B | $13.31B | $13.79B | $16.00B |
| Cuentas por Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda a Corto | $681.7M | $719.1M | $871.7M | $655.3M | $168.4M | $97.8M | $585.0M | $386.7M | $162.9M | $148.1M |
| Pasivos Corrientes | $7.66B | $7.89B | $8.24B | $8.24B | $9.25B | $10.33B | $10.08B | $11.36B | $11.71B | $148.1M |
| Deuda a Largo | $205.3M | $190.1M | $174.9M | $165.4M | $238.3M | $213.7M | $202.9M | $250.7M | $252.0M | $179.4M |
| Pasivos Totales | $7.95B | $8.18B | $8.54B | $8.60B | $9.75B | $10.76B | $10.57B | $11.88B | $12.26B | $14.10B |
| Reservas | $501.8M | $543.7M | $621.2M | $696.2M | $749.1M | $856.2M | $958.4M | $1.02B | $1.10B | $1.20B |
| Patrimonio Neto | $913.3M | $958.2M | $1.02B | $1.12B | $1.19B | $1.25B | $1.17B | $1.43B | $1.53B | $1.90B |
| Deuda Total | $887.0M | $909.2M | $1.05B | $820.7M | $406.7M | $311.5M | $788.0M | $637.4M | $415.0M | $327.4M |
| Deuda Neta | -$600.5M | -$506.4M | -$132.8M | -$371.5M | -$1.61B | -$2.64B | -$936.6M | -$998.7M | -$5.4M | $142.3M |
| Capital Circulante | -$6.17B | -$6.47B | -$7.06B | -$7.05B | -$7.23B | -$7.38B | -$8.36B | -$9.72B | -$11.29B | $89.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $640.2M | $185.2M | $151.6M | $187.2M |
| Activos Totales | $16.11B | $16.00B | $16.20B | $16.21B |
| Pasivos Totales | $14.26B | $14.10B | $14.29B | $14.27B |
| Patrimonio Neto | $1.85B | $1.90B | $1.91B | $1.94B |
| Deuda Total | $319.4M | $191.2M | $160.9M | $471.2M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $78.4M | $82.2M | $112.6M | $121.0M | $104.4M | $154.9M | $152.0M | $118.8M | $140.6M | $169.2M |
| Amortizaciones | $13.0M | $13.0M | $13.3M | $20.3M | $20.5M | $12.7M | $19.1M | $22.3M | $27.5M | $316000 |
| Compensación en Acciones | $4.4M | $3.6M | $3.9M | $4.2M | $4.6M | $4.4M | $4.5M | $5.1M | $6.0M | -$674000 |
| Cambio en Capital Circulante | -$8.2M | $7.4M | -$9.6M | -$6.8M | -$47.1M | -$12.0M | $11.9M | -$27.9M | $748000 | -$24.6M |
| Flujo de Caja Operativo | $109.5M | $136.9M | $147.8M | $153.5M | $145.3M | $159.2M | $183.2M | $157.5M | $188.6M | $235.2M |
| Inversiones (CapEx) | -$3.3M | -$6.7M | -$7.4M | -$6.6M | -$8.2M | -$7.7M | -$7.0M | -$9.3M | -$11.7M | -$16.3M |
| Adquisiciones | -$2.0M | -$4.0M | -$7.9M | 0 | -$6.8M | -$1.6M | -$2.6M | $44.6M | -$1.4M | $37.9M |
| Recompra de Acciones | -$17.2M | 0 | 0 | 0 | -$8.0M | -$21.7M | -$14.7M | -$4.9M | -$251000 | -$10.2M |
| Dividendos Pagados | -$38.9M | -$40.1M | -$43.3M | -$46.0M | -$47.2M | -$47.7M | -$49.8M | -$55.9M | -$62.3M | -$72.6M |
| Flujo de Caja Libre | $106.2M | $130.2M | $140.4M | $146.8M | $137.1M | $151.4M | $176.2M | $148.2M | $176.8M | $218.9M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $80.6M | $66.1M | $53.0M | $61.9M |
| Inversiones (CapEx) | -$6.2M | -$4.0M | -$4.4M | -$1.4M |
| Flujo de Caja Libre | $74.3M | $62.1M | $48.6M | $60.5M |
| Dividendos Pagados | -$19.4M | -$19.3M | -$19.2M | -$19.2M |
| Compensación en Acciones | $1.6M | $2.5M | $3.4M | $871000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +6.5% | +9.3% | +9.2% | -3.2% | +0.7% | +8.5% | +23.3% | +18.7% | +10.4% |
| Crecimiento Beneficio Neto (anual) | | +4.8% | +37.0% | +7.5% | -13.7% | +48.4% | -1.9% | -21.9% | +18.4% | +20.3% |
| Crecimiento BPA (anual) | | +4.4% | +36.5% | +7.0% | -13.4% | +49.4% | -0.8% | -24.6% | +11.6% | +12.1% |
| Cambio en Acciones (anual) | | +0.6% | +0.3% | +0.2% | -0.3% | -0.6% | -1.2% | +3.7% | +5.9% | +7.3% |
| Crecimiento FCF (anual) | | +22.6% | +7.8% | +4.6% | -6.6% | +10.5% | +16.4% | -15.9% | +19.3% | +23.8% |
| Margen Bruto | 88.0% | 86.6% | 85.5% | 84.0% | 83.0% | 97.9% | 92.7% | 74.4% | 70.6% | 72.1% |
| Margen Operativo | 29.8% | 30.1% | 29.5% | 30.6% | 27.1% | 40.4% | 36.5% | 23.2% | 22.8% | 25.3% |
| Margen EBITDA | 33.0% | 33.2% | 32.3% | 34.6% | 31.3% | 44.4% | 40.1% | 26.5% | 26.3% | 27.8% |
| Margen Neto | 19.6% | 19.3% | 24.2% | 23.9% | 21.2% | 31.3% | 28.3% | 17.9% | 17.9% | 19.5% |
| Margen FCF | 26.6% | 30.6% | 30.2% | 28.9% | 27.9% | 30.6% | 32.8% | 22.4% | 22.5% | 25.2% |
| Tasa Impositiva Efectiva | 34.0% | 35.9% | 17.8% | 22.1% | 21.6% | 22.5% | 22.5% | 22.6% | 21.6% | 22.9% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $2.43 | $2.97 | $3.19 | $3.33 | $3.12 | $3.46 | $4.08 | $3.31 | $3.73 | $4.30 |
| Dividendo por Acción | $0.89 | $0.91 | $0.98 | $1.04 | $1.07 | $1.09 | $1.15 | $1.25 | $1.31 | $1.43 |
| Acciones en Circulación (Básicas) | $43.3M | $43.5M | $43.6M | $43.8M | $43.7M | $43.4M | $42.9M | $44.5M | $47.2M | $47.1M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Rentabilidad sobre capital | 11.26% |
| Rentabilidad sobre capital invertido | 1.32% |
| Rentabilidad sobre activos | 1.32% |
| Margen bruto | 76.57% |
| Margen operativo | 29.34% |
| Margen neto | 22.65% |
Salud financiera
| Deuda / Patrimonio | 0.24 |
| Ratio corriente | 0.59 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 23.14 | 19.47 | 13.41 | 14.70 | 13.43 | 10.79 | 12.27 | 15.70 | 16.03 | 12.43 |
| P/VC | 1.99 | 1.67 | 1.48 | 1.59 | 1.18 | 1.34 | 1.59 | 1.31 | 1.48 | 1.03 |
| P/V | 4.54 | 3.76 | 3.25 | 3.50 | 2.85 | 3.38 | 3.47 | 2.81 | 2.87 | 2.25 |
| Margen Bruto | 88.0% | 86.6% | 85.5% | 84.0% | 83.0% | 97.9% | 92.7% | 74.4% | 70.6% | 72.1% |
| Margen Operativo | 29.8% | 30.1% | 29.5% | 30.6% | 27.1% | 40.4% | 36.5% | 23.2% | 22.8% | 25.3% |
| Margen Neto | 19.6% | 19.3% | 24.2% | 23.9% | 21.2% | 31.3% | 28.3% | 17.9% | 17.9% | 19.5% |