Estados financieros detallados de NLI Holdings, Inc. (NL): 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
NLI Holdings, Inc. registró ingresos de $158.3M en el último ejercicio fiscal, con un CAGR de 5 años del 6.7%.
Márgenes de los últimos 12 meses: margen bruto 32.1%, margen operativo 8.9%, margen neto -15.8%.
Al precio actual de $6.95, NL presenta beneficios negativos (P/E no significativo) y un ROE del -7.02%. La capitalización bursátil es de $340M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $108.9M | $112.0M | $118.2M | $124.2M | $114.5M | $140.8M | $166.6M | $161.3M | $145.9M | $158.3M |
| Coste de Ventas | $73.7M | $77.2M | $79.9M | $85.3M | $81.7M | $98.1M | $117.8M | $112.1M | $104.6M | $110.1M |
| Beneficio Bruto | $35.2M | $34.8M | $38.3M | $39.0M | $32.8M | $42.7M | $48.8M | $49.2M | $41.4M | $48.2M |
| I+D | $13.0M | $17.0M | $18.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $36.6M | $34.5M | $38.9M | $35.3M | $31.3M | $22.9M | $24.5M | $25.2M | $25.6M | $26.7M |
| Gastos Operativos | $36.6M | $34.3M | $38.3M | $40.6M | $30.5M | $32.3M | $35.1M | $35.1M | $3.5M | $38.6M |
| Beneficio Operativo | -$1.0M | $900000 | -$60.7M | -$1.6M | $2.4M | $10.5M | $13.7M | $14.1M | $37.9M | $9.5M |
| EBITDA | $17.7M | $8.0M | -$50.9M | $33.0M | $18.8M | $65.8M | $44.2M | -$1.7M | $107.8M | -$47.0M |
| Gastos por Intereses | $4000 | $30000 | $37000 | $700000 | $1.4M | $1.1M | $941000 | $746000 | $530000 | $767000 |
| Beneficio Antes de Impuestos | $13.9M | $112.2M | -$54.4M | $28.6M | $13.6M | $60.8M | $39.2M | -$6.4M | $83.3M | -$51.4M |
| Impuestos | -$2.8M | -$5.6M | -$15.4M | $579000 | -$2.5M | $7.5M | $2.8M | -$7.0M | $14.1M | -$16.1M |
| Beneficio Neto | $15.3M | $116.1M | -$41.0M | $25.8M | $14.7M | $51.2M | $33.8M | -$2.3M | $67.2M | -$37.8M |
| BPA | $0.31 | $2.38 | $-0.84 | $0.53 | $0.30 | $1.05 | $0.69 | $-0.05 | $1.38 | $-0.77 |
| BPA Diluido | $0.31 | $2.38 | $-0.84 | $0.53 | $0.30 | $1.05 | $0.69 | $-0.05 | $1.38 | $-0.77 |
| Acciones en Circulación (Diluidas) | $48.7M | $48.7M | $48.7M | $48.7M | $48.8M | $48.8M | $48.8M | $48.8M | $48.8M | $48.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $40.0M | $37.7M | $40.6M | $43.6M |
| Beneficio Bruto | $11.0M | $12.1M | $13.3M | $15.5M |
| Beneficio Operativo | $1.9M | $1.7M | $4.7M | $6.1M |
| EBITDA | -$7.2M | -$44.6M | $7.4M | $13.2M |
| Beneficio Neto | -$7.9M | -$31.0M | $4.3M | $9.0M |
| BPA | $-0.16 | $-0.63 | $0.09 | $0.18 |
| BPA Diluido | $-0.16 | $-0.63 | $0.09 | $0.18 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $93.2M | $98.3M | $116.3M | $129.7M | $137.0M | $147.0M | $68.9M | $111.5M | $163.2M | $113.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | $70.2M | $53.1M | 0 | 0 |
| Cuentas por Cobrar | $10.6M | $12.4M | $27.5M | $12.5M | $11.5M | $15.6M | $18.5M | $17.7M | $23.7M | $13.8M |
| Inventario | $15.0M | $15.4M | $17.1M | $18.3M | $18.3M | $25.6M | $31.3M | $30.7M | $28.4M | $30.4M |
| Activos Corrientes | $123.5M | $130.7M | $166.6M | $164.7M | $171.2M | $193.6M | $194.0M | $218.3M | $238.0M | $159.9M |
| Inmovilizado Material | $33.6M | $32.5M | $32.0M | $31.0M | $28.9M | $29.2M | $28.7M | $25.9M | $24.0M | $23.7M |
| Fondo de Comercio | $27.2M | $27.2M | $27.2M | $27.2M | $27.2M | $27.2M | $27.2M | $27.2M | $27.2M | $27.2M |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $385.0M | $551.6M | $547.2M | $557.5M | $548.1M | $596.2M | $609.9M | $576.7M | $578.3M | $470.0M |
| Cuentas por Pagar | $5.0M | $4.1M | $5.4M | $3.4M | $2.6M | $3.4M | $3.5M | $3.1M | $3.8M | $3.5M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $30.7M | $19.6M | $81.3M | $29.8M | $27.5M | $30.6M | $32.1M | $30.4M | $91.1M | $20.6M |
| Deuda a Largo | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 |
| Pasivos Totales | $190.7M | $198.5M | $243.7M | $230.3M | $212.8M | $211.2M | $207.1M | $184.9M | $162.4M | $93.2M |
| Reservas | $104.0M | $220.1M | $225.2M | $251.0M | $257.9M | $297.4M | $300.4M | $284.5M | $315.1M | $249.4M |
| Patrimonio Neto | $177.9M | $335.3M | $284.1M | $304.5M | $311.9M | $362.5M | $382.1M | $369.8M | $396.9M | $358.8M |
| Deuda Total | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 | $500000 |
| Deuda Neta | -$92.7M | -$97.8M | -$115.8M | -$129.2M | -$136.5M | -$146.5M | -$138.5M | -$164.2M | -$162.7M | -$113.2M |
| Capital Circulante | $92.8M | $111.1M | $85.3M | $134.9M | $143.7M | $163.1M | $161.9M | $187.8M | $146.9M | $139.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $101.9M | $113.7M | $105.0M | $107.0M |
| Activos Totales | $500.2M | $470.0M | $461.2M | $470.6M |
| Pasivos Totales | $106.9M | $93.2M | $83.6M | $88.7M |
| Patrimonio Neto | $375.4M | $358.8M | $359.3M | $363.0M |
| Deuda Total | $500000 | $500000 | $1.4M | $1.4M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $16.7M | $117.8M | -$39.0M | $28.0M | $16.1M | $53.4M | $36.5M | -$2.3M | $69.3M | -$35.4M |
| Amortizaciones | $3.8M | $3.7M | $3.5M | $3.7M | $3.8M | $3.8M | $4.0M | $4.0M | $3.7M | $3.7M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $3.5M | -$15.3M | $47.1M | $3.6M | -$13.6M | -$22.7M | -$19.5M | -$12.9M | -$42.1M | -$63.3M |
| Flujo de Caja Operativo | $27.7M | $18.6M | $17.1M | $27.4M | $19.0M | $17.6M | $26.9M | $37.0M | $25.6M | -$36.4M |
| Inversiones (CapEx) | -$3.2M | -$2.8M | -$3.1M | -$3.2M | -$1.7M | -$4.1M | -$3.7M | -$1.1M | -$1.4M | -$3.7M |
| Adquisiciones | 0 | 0 | 0 | $2.9M | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | -$1.3M | -$1.7M | 0 | 0 | 0 |
| Dividendos Pagados | -$21.1M | -$21.1M | -$23.9M | 0 | -$7.8M | -$11.7M | -$30.8M | -$13.7M | -$36.6M | -$27.9M |
| Flujo de Caja Libre | $24.5M | $15.8M | $14.0M | $24.3M | $17.3M | $13.5M | $23.2M | $35.9M | $24.1M | -$40.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $7.9M | -$4.2M | -$3.5M | $7.4M |
| Inversiones (CapEx) | -$983000 | -$599000 | -$404000 | -$1.5M |
| Flujo de Caja Libre | $7.0M | -$4.7M | -$3.9M | $5.9M |
| Dividendos Pagados | -$14.7M | -$4.4M | -$4.9M | -$9.8M |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +2.8% | +5.5% | +5.1% | -7.8% | +22.9% | +18.3% | -3.2% | -9.5% | +8.5% |
| Crecimiento Beneficio Neto (anual) | | +658.8% | -135.3% | +163.0% | -43.2% | +248.7% | -33.9% | -106.8% | +3012.8% | -156.3% |
| Crecimiento BPA (anual) | | +667.7% | -135.3% | +163.1% | -43.4% | +250.0% | -34.3% | -106.9% | +3017.5% | -155.8% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +0.0% | +0.1% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% |
| Crecimiento FCF (anual) | | -35.4% | -11.8% | +73.9% | -28.8% | -21.8% | +71.9% | +54.4% | -32.7% | -266.3% |
| Margen Bruto | 32.3% | 31.1% | 32.4% | 31.4% | 28.7% | 30.4% | 29.3% | 30.5% | 28.3% | 30.4% |
| Margen Operativo | -0.9% | 0.8% | -51.4% | -1.3% | 2.1% | 7.5% | 8.2% | 8.8% | 26.0% | 6.0% |
| Margen EBITDA | 16.2% | 7.2% | -43.0% | 26.5% | 16.4% | 46.7% | 26.5% | -1.1% | 73.9% | -29.7% |
| Margen Neto | 14.0% | 103.7% | -34.7% | 20.8% | 12.8% | 36.4% | 20.3% | -1.4% | 46.1% | -23.9% |
| Margen FCF | 22.5% | 14.1% | 11.8% | 19.5% | 15.1% | 9.6% | 14.0% | 22.2% | 16.5% | -25.4% |
| Tasa Impositiva Efectiva | -20.1% | -5.0% | 28.3% | 2.0% | -18.5% | 12.3% | 7.1% | 109.1% | 16.9% | 31.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.50 | $0.32 | $0.29 | $0.50 | $0.35 | $0.28 | $0.48 | $0.73 | $0.49 | $-0.82 |
| Dividendo por Acción | $0.43 | $0.43 | $0.49 | $0.00 | $0.16 | $0.24 | $0.63 | $0.28 | $0.75 | $0.57 |
| Acciones en Circulación (Básicas) | $48.7M | $48.7M | $48.7M | $48.7M | $48.8M | $48.8M | $48.8M | $48.8M | $48.8M | $48.9M |
Qué mirar en Industrials
Aeroespacial, defensa, maquinaria, transporte. Semi-cíclicos. Clave: backlog, márgenes operativos, y conversión de FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — El mejor indicador de disciplina operativa en industriales
- ROIC — Industriales de calidad tienen ROIC >15% — el resto destruyen capital
- FCF conversion — FCF / Net Income — en industriales bueno >85%
- Deuda neta / EBITDA — Industriales cíclicos con deuda alta sufren mucho en recesión
- Capex / Ingresos — Mantener la maquinaria. <4% = posible infraversión (deterioro futuro)
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
Rentabilidad
| Rentabilidad sobre capital | -7.02% |
| Rentabilidad sobre capital invertido | 2.08% |
| Rentabilidad sobre activos | -5.43% |
| Margen bruto | 32.08% |
| Margen operativo | 8.91% |
| Margen neto | -15.79% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 9.02 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 3.22 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 26.29 | 5.99 | -4.18 | 7.38 | 15.93 | 7.05 | 9.87 | -118.60 | 5.63 | -7.10 |
| P/VC | 2.23 | 2.07 | 0.60 | 0.63 | 0.75 | 1.00 | 0.87 | 0.74 | 0.96 | 0.74 |
| P/V | 3.64 | 6.20 | 1.45 | 1.53 | 2.04 | 2.56 | 2.00 | 1.70 | 2.60 | 1.69 |
| Margen Bruto | 32.3% | 31.1% | 32.4% | 31.4% | 28.7% | 30.4% | 29.3% | 30.5% | 28.3% | 30.4% |
| Margen Operativo | -0.9% | 0.8% | -51.4% | -1.3% | 2.1% | 7.5% | 8.2% | 8.8% | 26.0% | 6.0% |
| Margen Neto | 14.0% | 103.7% | -34.7% | 20.8% | 12.8% | 36.4% | 20.3% | -1.4% | 46.1% | -23.9% |