Estados financieros detallados de Pathfinder Bancorp, Inc. (PBHC): 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
Pathfinder Bancorp, Inc. registró ingresos de $79.1M en el último ejercicio fiscal, con un CAGR de 5 años del 10.4%.
Márgenes de los últimos 12 meses: margen bruto 43.0%, margen operativo -2.1%, margen neto -1.7%. El flujo de caja libre creció a un CAGR del -26.1% en 5 años.
Al precio actual de $16.87, PBHC presenta beneficios negativos (P/E no significativo) y un ROE del -1.08%. La capitalización bursátil es de $106M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $28.3M | $32.6M | $37.8M | $45.9M | $48.2M | $51.0M | $56.4M | $71.8M | $83.5M | $79.1M |
| Coste de Ventas | $4.8M | $8.1M | $10.5M | $15.5M | $15.6M | $8.6M | $12.4M | $31.7M | $48.3M | $48.7M |
| Beneficio Bruto | $23.5M | $24.5M | $27.2M | $30.4M | $32.7M | $42.5M | $43.9M | $40.1M | $35.1M | $30.5M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $13.5M | $15.0M | $16.0M | $17.4M | $17.5M | $16.5M | $17.5M | $17.5M | $19.3M | $19.8M |
| Gastos Operativos | $19.1M | $20.2M | $22.7M | $24.9M | $24.3M | $26.5M | $28.2M | $28.4M | $30.0M | $34.6M |
| Beneficio Operativo | $4.4M | $4.3M | $4.6M | $5.5M | $8.3M | $16.0M | $15.7M | $11.8M | $5.2M | -$4.1M |
| EBITDA | $5.5M | $5.4M | $5.8M | $7.0M | $9.7M | $17.8M | $16.4M | $13.1M | $6.5M | -$1.9M |
| Gastos por Intereses | $3.8M | $6.3M | $9.0M | $13.5M | $10.9M | $7.5M | $9.7M | $28.7M | $37.4M | $32.3M |
| Beneficio Antes de Impuestos | $4.4M | $4.3M | $4.6M | $5.5M | $8.3M | $16.0M | $15.7M | $11.8M | $5.2M | -$4.1M |
| Impuestos | $1.1M | $922000 | $546000 | $1.2M | $1.3M | $3.5M | $2.7M | $2.4M | $332000 | -$676000 |
| Beneficio Neto | $3.3M | $3.5M | $4.0M | $4.3M | $7.0M | $12.4M | $12.9M | $9.3M | $3.4M | -$3.4M |
| BPA | $0.79 | $0.74 | $0.97 | $0.80 | $1.19 | $2.07 | $2.13 | $1.51 | $0.42 | $-0.54 |
| BPA Diluido | $0.78 | $0.72 | $0.94 | $0.80 | $1.19 | $2.07 | $2.13 | $1.51 | $0.42 | $-0.54 |
| Acciones en Circulación (Diluidas) | $4.2M | $4.2M | $4.3M | $4.5M | $4.5M | $4.5M | $4.6M | $4.7M | $6.1M | $6.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $21.2M | $19.6M | $18.8M | $19.3M |
| Beneficio Bruto | $9.6M | $629000 | $11.8M | $11.9M |
| Beneficio Operativo | $672000 | -$8.5M | $2.9M | $3.3M |
| EBITDA | $1.5M | -$8.4M | $3.6M | $10.9M |
| Beneficio Neto | $626000 | -$7.0M | $2.4M | $2.7M |
| BPA | $0.10 | $-1.12 | $0.39 | $-0.00 |
| BPA Diluido | $0.10 | $-1.11 | $0.38 | $0.42 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $22.4M | $22.0M | $26.3M | $20.2M | $43.5M | $37.1M | $35.3M | $48.7M | $31.6M | $11.5M |
| Inversiones a Corto | $142.0M | $171.1M | $177.7M | $111.1M | $128.3M | $190.6M | $191.7M | $258.7M | $269.3M | $276.8M |
| Cuentas por Cobrar | $2.5M | $3.0M | $3.1M | $3.7M | $4.5M | $4.5M | $6.2M | $7.3M | $6.9M | $873.6M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $166.9M | $196.2M | $207.0M | $135.0M | $176.3M | $232.3M | $233.2M | $314.7M | $307.8M | $1.16B |
| Inmovilizado Material | $15.2M | $16.1M | $20.6M | $25.1M | $24.5M | $23.8M | $24.2M | $24.0M | $37.1M | $35.0M |
| Fondo de Comercio | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M | $4.5M | $5.1M | $5.1M |
| Activos Intangibles | $198000 | $182000 | $165000 | $149000 | $133000 | $117000 | $101000 | $85000 | $6.0M | $5.4M |
| Activos Totales | $749.0M | $881.3M | $933.1M | $1.09B | $1.23B | $1.29B | $1.40B | $1.47B | $1.47B | $1.43B |
| Cuentas por Pagar | $75000 | $186000 | $304000 | $396000 | $193000 | $106000 | $975000 | $2.2M | $546000 | $424000 |
| Deuda a Corto | $41.9M | $30.6M | $39.0M | $25.1M | $4.0M | $12.5M | $60.3M | $125.7M | $61.0M | $44.0M |
| Pasivos Corrientes | $653.0M | $754.4M | $766.4M | $907.4M | $1.00B | $1.07B | $1.19B | $1.25B | $1.27B | $44.0M |
| Deuda a Largo | $32.0M | $58.3M | $94.6M | $83.1M | $117.4M | $94.2M | $85.4M | $79.8M | $57.2M | $45.5M |
| Pasivos Totales | $691.1M | $819.5M | $868.7M | $1.00B | $1.13B | $1.17B | $1.29B | $1.35B | $1.35B | $1.30B |
| Reservas | $35.6M | $39.0M | $42.1M | $44.8M | $50.3M | $60.9M | $71.3M | $76.1M | $77.8M | $71.9M |
| Patrimonio Neto | $57.9M | $61.7M | $64.2M | $90.4M | $97.5M | $110.3M | $111.0M | $119.5M | $121.5M | $121.0M |
| Deuda Total | $74.0M | $88.9M | $133.6M | $110.9M | $124.0M | $109.7M | $152.6M | $211.6M | $136.5M | $107.2M |
| Deuda Neta | -$90.4M | -$104.2M | -$70.4M | -$20.4M | -$47.8M | -$118.0M | -$74.4M | -$95.8M | -$164.4M | -$181.1M |
| Capital Circulante | -$486.1M | -$558.2M | -$559.3M | -$772.4M | -$823.8M | -$835.7M | -$953.6M | -$933.3M | -$958.3M | $1.12B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $40.6M | $11.5M | $13.9M | $11.4M |
| Activos Totales | $1.47B | $1.43B | $1.42B | $1.49B |
| Pasivos Totales | $1.35B | $1.30B | $1.30B | $1.37B |
| Patrimonio Neto | $126.3M | $121.0M | $123.6M | $125.7M |
| Deuda Total | $104.8M | $107.2M | $75.1M | $181.0M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $3.3M | $3.5M | $4.0M | $4.3M | $7.0M | $12.4M | $12.9M | $9.3M | $3.4M | $2.6M |
| Amortizaciones | $1.0M | $1.1M | $1.2M | $1.6M | $1.4M | $1.8M | $700000 | $1.3M | $1.3M | $2.4M |
| Compensación en Acciones | $557000 | $712000 | $773000 | $630000 | $570000 | $617000 | $626000 | $462000 | $247000 | $985000 |
| Cambio en Capital Circulante | $95000 | -$1.8M | $241000 | -$407000 | -$2.2M | $146000 | $2.1M | $459000 | -$2.2M | -$489000 |
| Flujo de Caja Operativo | $6.4M | $6.8M | $9.0M | $8.1M | $46.6M | $20.2M | $21.7M | $15.4M | $11.2M | $11.3M |
| Inversiones (CapEx) | -$1.4M | -$2.0M | -$5.7M | -$3.6M | -$1.3M | -$1.2M | -$5.2M | -$2.0M | -$8.3M | -$1.3M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $1.2M | $816000 |
| Recompra de Acciones | -$1.8M | 0 | 0 | 0 | -$3.9M | -$6.9M | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$915000 | -$884000 | -$1.0M | -$1.2M | -$1.4M | -$1.6M | -$2.0M | -$2.2M | -$2.4M | -$2.5M |
| Flujo de Caja Libre | $5.0M | $4.9M | $3.3M | $4.5M | $45.3M | $18.9M | $16.5M | $13.5M | $2.9M | $10.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $7.0M | $2.7M | -$427000 | $2.5M |
| Inversiones (CapEx) | $861000 | -$273000 | -$248000 | $248000 |
| Flujo de Caja Libre | $7.9M | $2.4M | -$675000 | $2.8M |
| Dividendos Pagados | -$202000 | -$1.0M | -$631000 | -$638000 |
| Compensación en Acciones | $235000 | $290000 | $260000 | $278000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +15.2% | +16.0% | +21.4% | +5.2% | +5.8% | +10.4% | +27.4% | +16.2% | -5.2% |
| Crecimiento Beneficio Neto (anual) | | +6.7% | +15.5% | +6.1% | +62.5% | +78.5% | +4.2% | -28.1% | -63.6% | -201.0% |
| Crecimiento BPA (anual) | | -6.3% | +31.1% | -17.5% | +48.7% | +73.9% | +2.9% | -29.1% | -72.2% | -228.6% |
| Cambio en Acciones (anual) | | -0.0% | +1.8% | +4.6% | +1.5% | -1.2% | +1.8% | +2.1% | +31.0% | +4.2% |
| Crecimiento FCF (anual) | | -2.8% | -32.4% | +37.5% | +901.3% | -58.2% | -12.8% | -18.5% | -78.6% | +248.2% |
| Margen Bruto | 83.2% | 75.3% | 72.1% | 66.2% | 67.7% | 83.2% | 77.9% | 55.9% | 42.1% | 38.5% |
| Margen Operativo | 15.6% | 13.3% | 12.1% | 11.9% | 17.3% | 31.4% | 27.8% | 16.4% | 6.2% | -5.2% |
| Margen EBITDA | 19.3% | 16.7% | 15.3% | 15.3% | 20.1% | 34.9% | 29.1% | 18.3% | 7.8% | -2.5% |
| Margen Neto | 11.6% | 10.7% | 10.7% | 9.3% | 14.4% | 24.3% | 22.9% | 12.9% | 4.1% | -4.3% |
| Margen FCF | 17.7% | 14.9% | 8.7% | 9.9% | 93.9% | 37.1% | 29.3% | 18.7% | 3.4% | 12.7% |
| Tasa Impositiva Efectiva | 25.2% | 21.2% | 12.0% | 21.4% | 15.5% | 21.9% | 16.9% | 20.0% | 6.4% | 16.5% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $1.20 | $1.16 | $0.77 | $1.01 | $10.00 | $4.23 | $3.62 | $2.89 | $0.47 | $1.58 |
| Dividendo por Acción | $0.22 | $0.21 | $0.24 | $0.28 | $0.31 | $0.36 | $0.45 | $0.47 | $0.39 | $0.39 |
| Acciones en Circulación (Básicas) | $4.1M | $4.1M | $4.2M | $4.5M | $4.5M | $4.5M | $4.6M | $4.7M | $6.1M | $6.3M |
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 | -1.08% |
| Rentabilidad sobre capital invertido | -0.09% |
| Rentabilidad sobre activos | -0.09% |
| Margen bruto | 43.04% |
| Margen operativo | -2.09% |
| Margen neto | -1.70% |
Salud financiera
| Deuda / Patrimonio | 1.44 |
| Ratio corriente | 0.14 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 1.10 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 17.08 | 20.81 | 16.14 | 17.38 | 9.65 | 8.29 | 8.99 | 9.28 | 41.67 | -26.13 |
| P/VC | 0.96 | 1.02 | 1.02 | 0.69 | 0.53 | 0.70 | 0.79 | 0.55 | 0.88 | 0.73 |
| P/V | 1.96 | 1.93 | 1.73 | 1.35 | 1.08 | 1.51 | 1.55 | 0.91 | 1.28 | 1.12 |
| Margen Bruto | 83.2% | 75.3% | 72.1% | 66.2% | 67.7% | 83.2% | 77.9% | 55.9% | 42.1% | 38.5% |
| Margen Operativo | 15.6% | 13.3% | 12.1% | 11.9% | 17.3% | 31.4% | 27.8% | 16.4% | 6.2% | -5.2% |
| Margen Neto | 11.6% | 10.7% | 10.7% | 9.3% | 14.4% | 24.3% | 22.9% | 12.9% | 4.1% | -4.3% |