Estados financieros detallados de New Mountain Finance Corporation (NMFC): 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
New Mountain Finance Corporation registró ingresos de $138.6M en el último ejercicio fiscal, con un CAGR de 5 años del -12.5%. El beneficio neto alcanzó $16.5M, con un CAGR a 5 años del -22.4%.
Márgenes de los últimos 12 meses: margen bruto 71.8%, margen operativo 18.8%, margen neto -28.2%. El flujo de caja libre creció a un CAGR del 29.8% en 5 años.
Al precio actual de $6.99, NMFC presenta beneficios negativos (P/E no significativo) y un ROE del -4.28%. La capitalización bursátil es de $660M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $151.4M | $158.1M | $221.8M | $277.4M | $270.9M | $267.1M | $347.3M | $342.0M | $329.8M | $138.6M |
| Coste de Ventas | $28.5M | $37.1M | $57.0M | $84.3M | $78.0M | $73.8M | $76.0M | $83.9M | $82.4M | $123.7M |
| Beneficio Bruto | $113.0M | $110.0M | $75.8M | $109.1M | $56.9M | $193.3M | $271.3M | $258.1M | $247.4M | $14.8M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $7.4M | $8.1M | $10.0M | $8.9M | $9.8M | $9.6M | $9.9M | $89.7M | $10.6M | $10.6M |
| Gastos Operativos | $1.8M | $157000 | $3.1M | -$3.4M | -$3.9M | -$87.3M | $94.8M | -$4.4M | -$6.3M | -$2.6M |
| Beneficio Operativo | $111.2M | $109.8M | $72.8M | $112.6M | $60.8M | $280.6M | $176.5M | $262.5M | $253.7M | $17.4M |
| EBITDA | $111.2M | $109.8M | $94.9M | $112.6M | $60.8M | $280.5M | $176.2M | $262.6M | $253.5M | $17.4M |
| Gastos por Intereses | $28.5M | $37.1M | $57.0M | $84.3M | $79.1M | $73.1M | $92.4M | $124.8M | $136.6M | $123.7M |
| Beneficio Antes de Impuestos | $111.2M | $109.8M | $72.8M | $112.6M | $60.8M | $207.4M | $83.8M | $137.9M | $116.9M | $17.4M |
| Impuestos | -$490000 | $416000 | $403000 | 0 | -$991000 | $232000 | $9.3M | $1.8M | $2.4M | $430000 |
| Beneficio Neto | $111.7M | $109.4M | $72.4M | $112.6M | $58.5M | $201.4M | $74.7M | $135.3M | $113.4M | $16.5M |
| BPA | $1.72 | $1.47 | $0.95 | $1.32 | $0.60 | $2.08 | $0.75 | $1.34 | $1.06 | $0.16 |
| BPA Diluido | $1.60 | $1.38 | $0.91 | $1.22 | $0.60 | $1.91 | $0.74 | $1.24 | $1.03 | $0.14 |
| Acciones en Circulación (Diluidas) | $72.9M | $84.0M | $88.6M | $100.5M | $110.1M | $110.2M | $115.4M | $123.5M | $126.8M | $121.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $48.7M | $69.3M | $36.8M | $16.5M |
| Beneficio Bruto | $35.4M | $56.2M | $27.6M | $3.8M |
| Beneficio Operativo | $12.4M | $3.1M | -$23.2M | $39.9M |
| EBITDA | $12.3M | $54.5M | -$23.3M | $39.9M |
| Beneficio Neto | $12.2M | -$26.9M | -$50.9M | $17.3M |
| BPA | $0.11 | $-0.26 | $-0.51 | $0.18 |
| BPA Diluido | $0.11 | $-0.26 | $-0.51 | $0.18 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $45.9M | $34.9M | $49.7M | $48.6M | $79.0M | $58.1M | $71.2M | $70.1M | $80.3M | $80.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $19.2M | $31.8M | $30.4M | $32.1M | $37.5M | $30.9M | $36.2M | $44.2M | $42.6M | $38.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $63.8M | $66.8M | $80.0M | $80.7M | $116.5M | $88.9M | $107.3M | $114.3M | $122.9M | $123.8M |
| Inmovilizado Material | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $1.66B | $1.93B | $2.45B | $3.27B | $3.10B | $3.30B | $3.35B | $3.16B | $3.25B | $2.90B |
| Cuentas por Pagar | $5.9M | $5.1M | $32.5M | $18.3M | $42.4M | $25.3M | $19.6M | $20.4M | $17.1M | 0 |
| Deuda a Corto | 0 | $155.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $217.9M |
| Pasivos Corrientes | $461.9M | $470.1M | $718.3M | $18.3M | $42.4M | $25.3M | $19.6M | $20.4M | $17.1M | $217.9M |
| Deuda a Largo | $696.7M | $869.5M | $1.38B | $1.94B | $1.80B | $1.91B | $1.98B | $1.79B | $1.84B | $1.45B |
| Pasivos Totales | $717.5M | $893.0M | $1.44B | $1.98B | $1.86B | $1.95B | $2.03B | $1.83B | $1.89B | $1.71B |
| Reservas | $2.1M | $39.2M | -$30.1M | -$5.4M | -$48.8M | $47.5M | $7.5M | -$12.3M | -$13.6M | $192.6M |
| Patrimonio Neto | $938.6M | $1.03B | $1.01B | $1.28B | $1.22B | $1.32B | $1.31B | $1.32B | $1.35B | $1.18B |
| Deuda Total | $696.7M | $869.5M | $1.38B | $1.94B | $1.80B | $1.91B | $1.98B | $1.79B | $1.84B | $1.67B |
| Deuda Neta | $650.8M | $834.6M | $1.33B | $1.89B | $1.72B | $1.85B | $1.91B | $1.72B | $1.76B | $1.59B |
| Capital Circulante | -$398.2M | -$403.4M | -$638.3M | $62.4M | $74.1M | $63.6M | $87.7M | $93.8M | $105.8M | -$94.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $63.7M | $80.7M | $51.1M | $64.8M |
| Activos Totales | $3.09B | $2.90B | $2.43B | $2.42B |
| Pasivos Totales | $1.83B | $1.71B | $1.38B | $1.38B |
| Patrimonio Neto | $1.26B | $1.18B | $1.04B | $1.03B |
| Deuda Total | $455.0M | $1.67B | $1.33B | $1.35B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $111.7M | $109.4M | $72.4M | $112.6M | $58.5M | $201.4M | $74.7M | $135.3M | $114.5M | $17.0M |
| Amortizaciones | -$40.2M | -$50.9M | $22.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | -$8.5M | -$17.1M | $43.2M | -$20.8M | $28.6M | -$15.5M | -$10.5M | -$12.3M | $824000 | $915000 |
| Flujo de Caja Operativo | $60.5M | -$166.3M | -$393.5M | $66.6M | $103.0M | $51.7M | $70.1M | $76.0M | $42.0M | $379.0M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$2.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$52.0M |
| Dividendos Pagados | -$85.8M | -$94.2M | -$101.1M | -$113.1M | -$120.1M | -$114.2M | -$121.3M | -$150.7M | -$147.2M | -$135.7M |
| Flujo de Caja Libre | $60.5M | -$166.3M | -$393.5M | $66.6M | $103.0M | $51.7M | $70.1M | $76.0M | $42.0M | $379.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $73.1M | $161.6M | $401.4M | $24.4M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $73.1M | $161.6M | $401.4M | $24.4M |
| Dividendos Pagados | -$33.8M | -$32.9M | -$31.1M | -$23.6M |
| 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) | | +4.4% | +40.3% | +25.1% | -2.3% | -1.4% | +30.0% | -1.5% | -3.6% | -58.0% |
| Crecimiento Beneficio Neto (anual) | | -2.0% | -33.9% | +55.6% | -48.1% | +244.4% | -62.9% | +81.1% | -16.2% | -85.5% |
| Crecimiento BPA (anual) | | -14.5% | -35.4% | +38.9% | -54.5% | +246.7% | -63.9% | +78.7% | -20.9% | -84.9% |
| Cambio en Acciones (anual) | | +15.3% | +5.5% | +13.4% | +9.6% | +0.1% | +4.7% | +7.0% | +2.7% | -4.5% |
| Crecimiento FCF (anual) | | -374.9% | -136.6% | +116.9% | +54.8% | -49.8% | +35.7% | +8.4% | -44.7% | +802.4% |
| Margen Bruto | 74.7% | 69.6% | 34.2% | 39.3% | 21.0% | 72.4% | 78.1% | 75.5% | 75.0% | 10.7% |
| Margen Operativo | 73.5% | 69.5% | 32.8% | 40.6% | 22.5% | 105.0% | 50.8% | 76.8% | 76.9% | 12.6% |
| Margen EBITDA | 73.5% | 69.5% | 42.8% | 40.6% | 22.5% | 105.0% | 50.7% | 76.8% | 76.9% | 12.6% |
| Margen Neto | 73.8% | 69.2% | 32.6% | 40.6% | 21.6% | 75.4% | 21.5% | 39.6% | 34.4% | 11.9% |
| Margen FCF | 40.0% | -105.2% | -177.4% | 24.0% | 38.0% | 19.4% | 20.2% | 22.2% | 12.7% | 273.5% |
| Tasa Impositiva Efectiva | -0.4% | 0.4% | 0.6% | 0.0% | -1.6% | 0.1% | 11.1% | 1.3% | 2.0% | 2.5% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.83 | $-1.98 | $-4.44 | $0.66 | $0.94 | $0.47 | $0.61 | $0.62 | $0.33 | $3.13 |
| Dividendo por Acción | $1.18 | $1.12 | $1.14 | $1.13 | $1.09 | $1.04 | $1.05 | $1.22 | $1.16 | $1.12 |
| Acciones en Circulación (Básicas) | $64.9M | $74.2M | $76.0M | $85.2M | $96.8M | $97.0M | $100.2M | $101.1M | $107.9M | $106.2M |
Qué mirar en Servicios Financieros
Asset managers, brokers, fintech, bolsas. No son bancos — mira AUM, comisiones y calidad del FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — Los buenos asset managers tienen márgenes >30% por escalabilidad
- ROE — Servicios financieros de calidad tienen ROE >15% consistente
- FCF / Net Income — Calidad del beneficio — >90% esperado en negocios ligeros en capital
- Debt / Equity — Fintech y brokers con D/E alto son bombas de relojería en crisis
- P/E vs 5y propio — Asset managers tienen múltiplos estables en rangos conocidos
- Dividend yield + buybacks — Estos negocios devuelven mucho capital — mirar yield total (div + recompras)
Rentabilidad
| Rentabilidad sobre capital | -4.28% |
| Rentabilidad sobre capital invertido | 1.33% |
| Rentabilidad sobre activos | -2.00% |
| Margen bruto | 71.78% |
| Margen operativo | 18.79% |
| Margen neto | -28.24% |
Salud financiera
| Deuda / Patrimonio | 1.31 |
| Ratio corriente | 0.92 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 0.46 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 8.20 | 9.22 | 13.24 | 10.41 | 18.93 | 6.59 | 16.49 | 9.49 | 10.62 | 57.56 |
| P/VC | 0.98 | 0.97 | 0.95 | 0.91 | 0.90 | 1.01 | 0.94 | 0.97 | 0.90 | 0.83 |
| P/V | 6.05 | 6.36 | 4.31 | 4.22 | 4.06 | 4.97 | 3.57 | 3.76 | 3.68 | 7.06 |
| Margen Bruto | 74.7% | 69.6% | 34.2% | 39.3% | 21.0% | 72.4% | 78.1% | 75.5% | 75.0% | 10.7% |
| Margen Operativo | 73.5% | 69.5% | 32.8% | 40.6% | 22.5% | 105.0% | 50.8% | 76.8% | 76.9% | 12.6% |
| Margen Neto | 73.8% | 69.2% | 32.6% | 40.6% | 21.6% | 75.4% | 21.5% | 39.6% | 34.4% | 11.9% |