Estados financieros detallados de Paysign, Inc. (PAYS): 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
Paysign, Inc. registró ingresos de $82.0M en el último ejercicio fiscal, con un CAGR de 5 años del 27.7%.
Márgenes de los últimos 12 meses: margen bruto 56.2%, margen operativo 17.0%, margen neto 15.7%. El flujo de caja libre creció a un CAGR del 37.5% en 5 años.
Al precio actual de $11.82, PAYS cotiza a un P/E de 41.46 y un ROE del 30.13%. La capitalización bursátil es de $661M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $10.4M | $15.2M | $23.4M | $34.7M | $24.1M | $29.5M | $38.0M | $47.3M | $58.4M | $82.0M |
| Coste de Ventas | $5.2M | $8.5M | $12.0M | $15.4M | $14.8M | $14.8M | $17.1M | $23.1M | $26.2M | $41.6M |
| Beneficio Bruto | $5.2M | $6.7M | $11.4M | $19.2M | $9.3M | $14.7M | $21.0M | $24.1M | $32.2M | $40.4M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $3.3M | $4.1M | $7.8M | $11.7M | $15.1M | $15.8M | $18.2M | $20.3M | $25.2M | $33.2M |
| Gastos Operativos | $3.9M | $4.9M | $8.9M | $13.1M | $17.6M | $17.5M | $20.6M | $24.3M | $31.2M | $33.2M |
| Beneficio Operativo | $1.4M | $1.8M | $2.5M | $6.1M | -$8.3M | -$2.7M | $344335 | -$167255 | $1.0M | $7.2M |
| EBITDA | $1.9M | $2.6M | $3.6M | $8.0M | -$5.8M | -$1.1M | $2.8M | $6.4M | $10.1M | $18.4M |
| Gastos por Intereses | $77107 | $31623 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $1.3M | $1.8M | $2.6M | $6.5M | -$8.2M | -$2.7M | $1.1M | $2.4M | $4.1M | $10.0M |
| Impuestos | 0 | $6000 | 0 | -$909976 | $894182 | $10198 | $107477 | -$4.1M | $322290 | $2.5M |
| Beneficio Neto | $1.4M | $1.8M | $2.6M | $7.5M | -$9.1M | -$2.7M | $1.0M | $6.5M | $3.8M | $7.6M |
| BPA | $0.03 | $0.04 | $0.05 | $0.16 | $-0.19 | $-0.05 | $0.02 | $0.12 | $0.07 | $0.14 |
| BPA Diluido | $0.03 | $0.04 | $0.05 | $0.14 | $-0.19 | $-0.05 | $0.02 | $0.12 | $0.07 | $0.13 |
| Acciones en Circulación (Diluidas) | $43.9M | $48.0M | $52.0M | $54.6M | $49.3M | $51.0M | $52.9M | $54.2M | $55.6M | $59.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $21.6M | $22.8M | $28.0M | $28.3M |
| Beneficio Bruto | $12.2M | $10.9M | $15.6M | $17.9M |
| Beneficio Operativo | $1.6M | $1.9M | $6.7M | $7.0M |
| EBITDA | $4.4M | $4.7M | $10.1M | $7.9M |
| Beneficio Neto | $2.2M | $1.4M | $5.4M | $6.8M |
| BPA | $0.04 | $0.02 | $0.10 | $0.12 |
| BPA Diluido | $0.04 | $0.02 | $0.09 | $0.11 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.6M | $2.7M | $5.6M | $9.7M | $7.8M | $7.4M | $9.7M | $17.0M | $10.8M | $21.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $110269 | $165523 | $337303 | $891936 | $512097 | $3.4M | $4.7M | $16.2M | $34.2M | $73.1M |
| Inventario | $10.0M | $14.4M | $26.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $12.0M | $17.9M | $33.2M | $47.9M | $58.0M | $74.3M | $97.7M | $129.2M | $158.8M | $240.1M |
| Inmovilizado Material | $300761 | $854402 | $883490 | $937185 | $6.2M | $5.6M | $4.9M | $4.3M | $4.0M | $7.6M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $4.5M |
| Activos Intangibles | $1.6M | $1.6M | $2.1M | $3.8M | $3.7M | $4.1M | $5.7M | $8.8M | $12.2M | $22.3M |
| Activos Totales | $13.9M | $20.4M | $36.2M | $53.5M | $67.8M | $84.1M | $108.2M | $146.6M | $179.0M | $276.3M |
| Cuentas por Pagar | $765596 | $1.1M | $1.3M | $1.5M | $2.2M | $5.8M | $8.1M | $26.5M | $34.3M | $70.5M |
| Deuda a Corto | $124168 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $2.6M |
| Pasivos Corrientes | $11.2M | $15.6M | $27.3M | $34.2M | $50.6M | $67.4M | $88.6M | $119.2M | $146.1M | $216.3M |
| Deuda a Largo | $27892 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $6.1M |
| Pasivos Totales | $11.2M | $15.6M | $27.3M | $34.2M | $54.6M | $71.1M | $92.0M | $122.1M | $148.6M | $227.8M |
| Reservas | -$3.8M | -$2.0M | $579582 | $8.1M | -$1.1M | -$3.8M | -$2.7M | $3.7M | $7.5M | $15.1M |
| Patrimonio Neto | $2.8M | $5.0M | $9.1M | $19.6M | $13.2M | $13.0M | $16.3M | $24.5M | $30.4M | $48.5M |
| Deuda Total | $152060 | 0 | 0 | 0 | $4.3M | $4.0M | $3.7M | $3.3M | $2.9M | $14.0M |
| Deuda Neta | -$1.5M | -$2.7M | -$5.6M | -$9.7M | -$3.5M | -$3.4M | -$6.0M | -$13.7M | -$7.8M | -$7.0M |
| Capital Circulante | $796596 | $2.3M | $5.9M | $13.6M | $7.4M | $6.9M | $9.1M | $10.0M | $12.7M | $23.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $7.5M | $21.1M | $20.5M | $27.4M |
| Activos Totales | $209.5M | $276.3M | $312.7M | $317.0M |
| Pasivos Totales | $163.8M | $227.8M | $257.7M | $256.8M |
| Patrimonio Neto | $45.8M | $48.5M | $55.0M | $60.2M |
| Deuda Total | $6.1M | $14.0M | $5.9M | $5.7M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $1.4M | $1.8M | $2.6M | $7.5M | -$9.1M | -$2.7M | $1.0M | $6.5M | $3.8M | $7.6M |
| Amortizaciones | $572320 | $876191 | $1.1M | $1.5M | $2.1M | $2.5M | $2.9M | $4.0M | $6.0M | $8.3M |
| Compensación en Acciones | $92939 | $308696 | $1.4M | $2.5M | $3.0M | $2.3M | $2.3M | $2.9M | $2.6M | $4.3M |
| Cambio en Capital Circulante | -$696187 | $4.2M | $11.0M | -$603997 | $16.3M | $12.8M | $18.7M | $18.2M | $9.8M | $29.5M |
| Flujo de Caja Operativo | $1.3M | $7.2M | $16.0M | $10.0M | $13.8M | $15.2M | $25.3M | $27.6M | $22.9M | $52.5M |
| Inversiones (CapEx) | -$887009 | -$1.5M | -$1.6M | -$463716 | -$3.3M | -$2.7M | -$4.1M | -$7.0M | -$9.5M | -$1.2M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | -$245425 | 0 | 0 | -$1.1M | -$495045 | -$375786 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $379714 | $5.6M | $14.4M | $9.5M | $10.4M | $12.5M | $21.2M | $20.6M | $13.5M | $51.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $6.8M | $48.1M | $18.8M | -$2.3M |
| Inversiones (CapEx) | -$2.2M | -$1.7M | -$1.7M | $1.3M |
| Flujo de Caja Libre | $4.6M | $46.4M | $17.1M | -$1.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.3M | $1.4M | $1.3M | $1.3M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +46.2% | +53.8% | +48.0% | -30.4% | +22.2% | +29.1% | +24.3% | +23.5% | +40.5% |
| Crecimiento Beneficio Neto (anual) | | +27.9% | +44.5% | +188.0% | -222.6% | +70.2% | +137.8% | +528.4% | -40.9% | +97.9% |
| Crecimiento BPA (anual) | | +33.3% | +25.0% | +220.0% | -218.8% | +71.9% | +137.1% | +506.1% | -40.2% | +95.3% |
| Cambio en Acciones (anual) | | +9.5% | +8.2% | +4.9% | -9.7% | +3.5% | +3.8% | +2.3% | +2.6% | +7.3% |
| Crecimiento FCF (anual) | | +1383.3% | +155.7% | -34.1% | +10.0% | +20.3% | +69.2% | -3.1% | -34.6% | +280.7% |
| Margen Bruto | 50.1% | 44.0% | 48.7% | 55.5% | 38.6% | 49.9% | 55.1% | 51.1% | 55.1% | 49.2% |
| Margen Operativo | 13.0% | 11.6% | 10.6% | 17.6% | -34.6% | -9.3% | 0.9% | -0.4% | 1.7% | 8.8% |
| Margen EBITDA | 18.5% | 17.4% | 15.2% | 23.2% | -24.0% | -3.8% | 7.3% | 13.5% | 17.4% | 22.4% |
| Margen Neto | 13.4% | 11.8% | 11.0% | 21.5% | -37.9% | -9.2% | 2.7% | 13.7% | 6.5% | 9.2% |
| Margen FCF | 3.6% | 37.0% | 61.5% | 27.4% | 43.2% | 42.6% | 55.8% | 43.5% | 23.1% | 62.5% |
| Tasa Impositiva Efectiva | 0.0% | 0.3% | 0.0% | -13.9% | -10.8% | -0.4% | 9.5% | -173.2% | 7.8% | 24.7% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.01 | $0.12 | $0.28 | $0.17 | $0.21 | $0.25 | $0.40 | $0.38 | $0.24 | $0.86 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $42.9M | $43.4M | $51.8M | $47.4M | $49.3M | $51.0M | $52.0M | $52.5M | $53.2M | $54.4M |
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 | 30.13% |
| Rentabilidad sobre capital invertido | 19.33% |
| Rentabilidad sobre activos | 4.98% |
| Margen bruto | 56.18% |
| Margen operativo | 17.01% |
| Margen neto | 15.67% |
Salud financiera
| Deuda / Patrimonio | 0.09 |
| Ratio corriente | 1.14 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 11.13 | 18.12 | 70.40 | 63.44 | -24.42 | -29.96 | 130.30 | 23.33 | 42.12 | 36.79 |
| P/VC | 5.08 | 6.24 | 20.03 | 24.61 | 17.27 | 6.28 | 8.24 | 6.00 | 5.28 | 5.78 |
| P/V | 1.37 | 2.07 | 7.78 | 13.89 | 9.48 | 2.77 | 3.53 | 3.11 | 2.75 | 3.42 |
| Margen Bruto | 50.1% | 44.0% | 48.7% | 55.5% | 38.6% | 49.9% | 55.1% | 51.1% | 55.1% | 49.2% |
| Margen Operativo | 13.0% | 11.6% | 10.6% | 17.6% | -34.6% | -9.3% | 0.9% | -0.4% | 1.7% | 8.8% |
| Margen Neto | 13.4% | 11.8% | 11.0% | 21.5% | -37.9% | -9.2% | 2.7% | 13.7% | 6.5% | 9.2% |