Estados financieros detallados de NGL Energy Partners LP (NGL): 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
NGL Energy Partners LP registró ingresos de $3.16B en el último ejercicio fiscal, con un CAGR de 5 años del -9.6%.
Márgenes de los últimos 12 meses: margen bruto 25.0%, margen operativo 12.3%, margen neto -4.8%. El flujo de caja libre creció a un CAGR del 4.3% en 5 años.
Al precio actual de $16.33, NGL presenta beneficios negativos (P/E no significativo) y un ROE del -51.37%. La capitalización bursátil es de $2.0B.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $13.02B | $16.91B | $8.69B | $7.58B | $5.23B | $7.95B | $5.68B | $4.15B | $3.47B | $3.16B |
| Coste de Ventas | $12.55B | $16.62B | $8.20B | $6.87B | $4.49B | $7.43B | $4.96B | $3.45B | $2.76B | $2.41B |
| Beneficio Bruto | $477.1M | $285.6M | $494.1M | $714.3M | $733.2M | $519.9M | $716.5M | $701.8M | $707.4M | $747.2M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $116.6M | $98.1M | $107.4M | $113.7M | $325.0M | $63.5M | $71.5M | $121.6M | $55.6M | $362.7M |
| Gastos Operativos | $431.2M | $319.9M | $333.1M | $717.6M | $1.12B | $436.8M | $472.5M | $539.8M | $378.0M | $362.7M |
| Beneficio Operativo | $255.1M | -$17.2M | $126.7M | -$3.3M | -$390.8M | $83.0M | $244.0M | $161.9M | $329.4M | $384.5M |
| EBITDA | $526.3M | $189.2M | $299.0M | $266.9M | $408.7M | $377.8M | $558.1M | $380.4M | $595.0M | $336.8M |
| Gastos por Intereses | $150.5M | $199.1M | $164.7M | $181.2M | $198.8M | $254.7M | $258.7M | $254.6M | $280.1M | $254.2M |
| Beneficio Antes de Impuestos | $145.8M | -$225.0M | -$78.2M | -$180.2M | -$640.8M | -$183.1M | $9.3M | -$156.3M | $60.1M | -$178.8M |
| Impuestos | $1.9M | $1.4M | $1.2M | $345000 | -$3.4M | $971000 | $219000 | $1.5M | -$4.9M | -$276000 |
| Beneficio Neto | $137.0M | -$70.9M | $360.0M | -$397.0M | -$639.8M | -$184.8M | $51.4M | -$143.8M | $39.4M | -$180.2M |
| BPA | $0.99 | $-0.59 | $2.93 | $-1.42 | $-5.68 | $-2.22 | $-0.56 | $-2.14 | $-0.60 | $-3.49 |
| BPA Diluido | $0.95 | $-0.59 | $2.93 | $-1.42 | $-5.68 | $-2.22 | $-0.56 | $-2.14 | $-0.60 | $-3.49 |
| Acciones en Circulación (Diluidas) | $111.9M | $121.0M | $123.0M | $127.4M | $129.0M | $129.8M | $131.0M | $132.1M | $132.0M | $127.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $674.7M | $909.8M | $949.5M | $990.0M |
| Beneficio Bruto | $189.7M | $194.7M | $190.0M | $305.6M |
| Beneficio Operativo | $94.3M | $109.1M | $83.6M | $145.3M |
| EBITDA | $155.6M | $174.4M | $157.4M | $210.5M |
| Beneficio Neto | $29.3M | $47.2M | -$325.6M | $78.7M |
| BPA | $0.02 | $0.38 | $-3.93 | $0.48 |
| BPA Diluido | $0.02 | $0.38 | $-3.93 | $0.48 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $12.3M | $22.1M | $18.6M | $22.7M | $4.8M | $3.8M | $5.4M | $38.9M | $5.6M | $8.5M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $7.9M | 0 |
| Cuentas por Cobrar | $807.3M | $1.03B | $1.01B | $572.0M | $727.1M | $1.13B | $1.05B | $721.2M | $583.7M | $670.0M |
| Inventario | $561.4M | $551.3M | $136.1M | $69.6M | $158.5M | $251.3M | $142.6M | $106.6M | $69.9M | $67.4M |
| Activos Corrientes | $1.48B | $2.25B | $1.81B | $774.1M | $1.01B | $1.55B | $1.29B | $1.18B | $962.1M | $774.0M |
| Inmovilizado Material | $1.79B | $1.52B | $1.83B | $3.03B | $2.86B | $2.58B | $2.31B | $2.19B | $2.18B | $2.21B |
| Fondo de Comercio | $1.45B | $1.20B | $1.11B | $993.6M | $744.4M | $744.4M | $712.4M | $617.2M | $599.3M | $351.5M |
| Activos Intangibles | $1.16B | $913.2M | $800.9M | $1.60B | $1.25B | $1.12B | $1.04B | $914.8M | $834.3M | $805.1M |
| Activos Totales | $6.32B | $6.15B | $5.90B | $6.50B | $5.95B | $6.07B | $5.46B | $5.02B | $4.61B | $4.18B |
| Cuentas por Pagar | $665.9M | $854.1M | $907.5M | $532.8M | $680.0M | $1.08B | $927.7M | $638.8M | $462.1M | $495.2M |
| Deuda a Corto | $29.6M | $646000 | $648000 | $4.7M | $2.2M | $2.4M | $34.2M | $36.4M | $8.8M | $44.9M |
| Pasivos Corrientes | $938.6M | $1.13B | $1.25B | $845.8M | $910.8M | $1.28B | $1.11B | $977.3M | $739.2M | $739.5M |
| Deuda a Largo | $2.96B | $2.68B | $2.16B | $3.14B | $3.32B | $3.35B | $2.86B | $2.84B | $2.96B | $3.22B |
| Pasivos Totales | $4.09B | $3.98B | $3.47B | $4.23B | $4.45B | $4.80B | $4.14B | $4.02B | $3.91B | $4.18B |
| Reservas | -$2.26B | -$2.14B | -$2.42B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Patrimonio Neto | $2.17B | -$1.8M | -$255000 | $2.25B | $1.48B | $1.30B | $1.35B | $1.03B | $676.7M | $25.9M |
| Deuda Total | $2.99B | $2.68B | $2.16B | $3.33B | $3.47B | $3.47B | $2.95B | $2.97B | $3.08B | $3.36B |
| Deuda Neta | $2.98B | $2.66B | $2.14B | $3.30B | $3.47B | $3.46B | $2.94B | $2.93B | $3.07B | $3.35B |
| Capital Circulante | $545.6M | $1.12B | $561.5M | -$71.7M | $97.0M | $269.1M | $182.3M | $203.3M | $222.8M | $34.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $8.7M | $6.5M | $8.5M | $5.1M |
| Activos Totales | $4.30B | $4.38B | $4.18B | $4.18B |
| Pasivos Totales | $3.69B | $3.79B | $4.18B | $4.13B |
| Patrimonio Neto | $644.3M | $623.5M | $25.9M | $32.7M |
| Deuda Total | $3.03B | $3.15B | $3.36B | $3.39B |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | $143.9M | -$69.6M | $339.4M | -$398.8M | -$639.2M | -$184.1M | $52.5M | $43.2M | $43.2M | -$139.2M |
| Amortizaciones | $237.8M | $225.7M | $221.7M | $276.8M | $331.2M | $306.2M | $290.9M | $267.2M | $267.2M | $268.7M |
| Compensación en Acciones | $53.1M | $35.2M | $41.4M | $26.5M | $6.7M | -$1.1M | $2.7M | 0 | 0 | $11.2M |
| Cambio en Capital Circulante | -$285.4M | -$122.0M | -$76.4M | $39.7M | $10.5M | -$136.5M | -$1.8M | -$109.5M | -$109.5M | -$71.3M |
| Flujo de Caja Operativo | -$26.8M | $138.0M | $337.2M | $464.1M | $304.0M | $205.8M | $445.2M | $297.5M | $297.5M | $366.0M |
| Inversiones (CapEx) | -$363.9M | -$133.8M | -$455.6M | -$555.7M | -$186.8M | -$142.4M | -$147.8M | -$245.8M | -$245.8M | -$221.3M |
| Adquisiciones | $9.4M | $282.0M | $34.8M | -$1.29B | -$62000 | $63.1M | $111.5M | $72.1M | $72.1M | $164.9M |
| Recompra de Acciones | 0 | -$15.8M | -$297000 | -$266.8M | -$182000 | -$90000 | -$99000 | -$2.1M | -$2.1M | -$470.2M |
| Dividendos Pagados | -$181.3M | -$225.1M | -$236.6M | -$244.4M | -$142.1M | 0 | 0 | -$305.3M | -$305.3M | -$113.5M |
| Flujo de Caja Libre | -$390.7M | $4.2M | -$118.3M | -$91.7M | $117.2M | $63.5M | $297.4M | $51.6M | $51.6M | $144.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $155.0M | $182.3M | $110.0M | $77.0M |
| Inversiones (CapEx) | -$37.9M | -$136.6M | -$31.6M | -$108.8M |
| Flujo de Caja Libre | $117.2M | $45.7M | $78.4M | -$31.7M |
| Dividendos Pagados | -$28.9M | -$26.2M | -$29.6M | -$18.8M |
| Compensación en Acciones | 0 | 0 | $11.2M | $2.0M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +29.8% | -48.6% | -12.7% | -31.1% | +52.1% | -28.5% | -26.9% | -16.5% | -9.0% |
| Crecimiento Beneficio Neto (anual) | | -151.7% | +608.0% | -210.3% | -61.2% | +71.1% | +127.8% | -379.8% | +127.4% | -557.7% |
| Crecimiento BPA (anual) | | -159.6% | +596.6% | -148.5% | -300.0% | +60.9% | +74.8% | -282.1% | +72.0% | -481.7% |
| Cambio en Acciones (anual) | | +8.2% | +1.7% | +3.6% | +1.2% | +0.7% | +0.9% | +0.9% | -0.1% | -3.8% |
| Crecimiento FCF (anual) | | +101.1% | -2913.5% | +22.5% | +227.9% | -45.8% | +368.5% | -82.6% | +0.0% | +180.1% |
| Margen Bruto | 3.7% | 1.7% | 5.7% | 9.4% | 14.0% | 6.5% | 12.6% | 16.9% | 20.4% | 23.7% |
| Margen Operativo | 2.0% | -0.1% | 1.5% | -0.0% | -7.5% | 1.0% | 4.3% | 3.9% | 9.5% | 12.2% |
| Margen EBITDA | 4.0% | 1.1% | 3.4% | 3.5% | 7.8% | 4.8% | 9.8% | 9.2% | 17.2% | 10.7% |
| Margen Neto | 1.1% | -0.4% | 4.1% | -5.2% | -12.2% | -2.3% | 0.9% | -3.5% | 1.1% | -5.7% |
| Margen FCF | -3.0% | 0.0% | -1.4% | -1.2% | 2.2% | 0.8% | 5.2% | 1.2% | 1.5% | 4.6% |
| Tasa Impositiva Efectiva | 1.3% | -0.6% | -1.6% | -0.2% | 0.5% | -0.5% | 2.4% | -0.9% | -8.1% | 0.2% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $-3.49 | $0.03 | $-0.96 | $-0.72 | $0.91 | $0.49 | $2.27 | $0.39 | $0.39 | $1.14 |
| Dividendo por Acción | $1.62 | $1.86 | $1.92 | $1.92 | $1.10 | $0.00 | $0.00 | $2.31 | $2.31 | $0.89 |
| Acciones en Circulación (Básicas) | $108.1M | $121.0M | $123.0M | $127.4M | $129.0M | $129.8M | $131.0M | $132.1M | $132.0M | $127.0M |
Qué mirar en empresas de Energy
- FCF yield (>8%) — Caja generada / capitalización. En energía el FCF importa más que el EPS.
- ROIC medio 5a (≥10%) — Incluir años buenos y malos para filtrar las realmente disciplinadas.
- FCF positivo en 8 de los últimos 10 años (≥8/10) — Nombres disciplinados (XOM, CVX, EOG) sobreviven los crashes de 2014-16 y 2020.
- Cobertura del dividendo (FCF / div) (≥1,2x) — Dividendo cubierto por FCF, no por deuda. <1x = recorte probable.
- Deuda Neta / EBITDA (<2x en pico) — Mirarlo con EBITDA en valle, no en pico.
- Capex / Ingresos (10-20% saludable) — Energía necesita reinversión agresiva para mantener reservas.
Rentabilidad
| Rentabilidad sobre capital | -51.37% |
| Rentabilidad sobre capital invertido | 12.03% |
| Rentabilidad sobre activos | -4.08% |
| Margen bruto | 24.97% |
| Margen operativo | 12.27% |
| Margen neto | -4.83% |
Salud financiera
| Deuda / Patrimonio | 103.75 |
| Ratio corriente | 1.14 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 1.29 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | 22.83 | -18.64 | 4.80 | -1.83 | -0.36 | -1.00 | -5.18 | -2.71 | -7.57 | -3.53 |
| P/VC | 1.13 | -733.28 | -6787.65 | 0.15 | 0.18 | 0.22 | 0.28 | 0.74 | 0.89 | 60.45 |
| P/V | 0.19 | 0.08 | 0.20 | 0.04 | 0.05 | 0.04 | 0.07 | 0.18 | 0.17 | 0.50 |
| Margen Bruto | 3.7% | 1.7% | 5.7% | 9.4% | 14.0% | 6.5% | 12.6% | 16.9% | 20.4% | 23.7% |
| Margen Operativo | 2.0% | -0.1% | 1.5% | -0.0% | -7.5% | 1.0% | 4.3% | 3.9% | 9.5% | 12.2% |
| Margen Neto | 1.1% | -0.4% | 4.1% | -5.2% | -12.2% | -2.3% | 0.9% | -3.5% | 1.1% | -5.7% |