Estados financieros detallados de Preferred Bank (PFBC): 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
Preferred Bank registró ingresos de $499.0M en el último ejercicio fiscal, con un CAGR de 5 años del 17.8%. El beneficio neto alcanzó $133.6M, con un CAGR a 5 años del 14.0%.
Márgenes de los últimos 12 meses: margen bruto 55.8%, margen operativo 38.2%, margen neto 26.7%. El flujo de caja libre creció a un CAGR del 10.3% en 5 años.
Al precio actual de $106.18, PFBC cotiza a un P/E de 9.37 y un ROE del 17.32%. La capitalización bursátil es de $1.3B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $127.5M | $162.9M | $204.0M | $233.0M | $220.3M | $218.8M | $301.4M | $481.8M | $520.4M | $499.0M |
| Coste de Ventas | $25.1M | $33.4M | $51.1M | $65.5M | $66.1M | $24.2M | $54.4M | $198.6M | $248.6M | $224.7M |
| Beneficio Bruto | $102.4M | $129.5M | $152.9M | $167.4M | $154.2M | $194.6M | $247.1M | $283.1M | $271.9M | $274.3M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $28.1M | $32.3M | $37.0M | $41.5M | $40.1M | $43.2M | $49.4M | $52.1M | $54.9M | $66.8M |
| Gastos Operativos | $42.7M | $49.0M | $54.2M | $56.0M | $57.4M | $60.8M | $67.9M | $73.3M | $87.8M | $84.8M |
| Beneficio Operativo | $59.7M | $80.5M | $98.7M | $111.4M | $96.9M | $133.8M | $179.2M | $210.6M | $184.0M | $189.5M |
| EBITDA | $60.6M | $81.5M | $99.7M | $112.7M | $98.8M | $135.7M | $181.1M | $211.6M | $186.2M | $191.3M |
| Gastos por Intereses | $18.7M | $27.9M | $40.9M | $62.1M | $40.1M | $25.2M | $47.0M | $188.6M | $236.5M | $215.6M |
| Beneficio Antes de Impuestos | $59.7M | $80.5M | $98.7M | $111.4M | $96.9M | $133.8M | $179.2M | $209.9M | $184.0M | $189.5M |
| Impuestos | $23.3M | $37.1M | $27.7M | $33.0M | $27.4M | $38.6M | $50.4M | $59.8M | $53.4M | $55.9M |
| Beneficio Neto | $36.4M | $43.4M | $71.0M | $78.4M | $69.5M | $95.2M | $128.8M | $150.0M | $130.7M | $133.6M |
| BPA | $2.58 | $2.97 | $4.64 | $5.16 | $4.65 | $6.41 | $8.84 | $10.64 | $9.80 | $10.61 |
| BPA Diluido | $2.56 | $2.96 | $4.64 | $5.16 | $4.65 | $6.41 | $8.70 | $10.52 | $9.65 | $10.41 |
| Acciones en Circulación (Diluidas) | $14.0M | $14.5M | $15.1M | $15.1M | $14.9M | $14.9M | $14.8M | $14.3M | $13.6M | $12.8M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $306.3M | $446.8M | $526.8M | $498.6M | $739.5M | $1.03B | $747.5M | $890.9M | $765.5M | $807.1M |
| Inversiones a Corto | $199.8M | $188.2M | $182.4M | $240.6M | $239.7M | $451.9M | $428.3M | $313.8M | $3000 | $20.0M |
| Cuentas por Cobrar | $9.6M | $14.0M | $14.3M | $18.3M | $23.7M | $14.6M | $23.6M | $36.3M | $35.8M | $34.2M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $515.7M | $649.0M | $723.4M | $757.6M | $1.00B | $1.50B | $1.20B | $1.24B | $801.3M | $861.3M |
| Inmovilizado Material | $5.3M | $5.7M | $7.5M | $29.3M | $27.9M | $32.5M | $30.7M | $31.7M | $21.6M | $38.6M |
| 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 | $3.22B | $3.77B | $4.22B | $4.63B | $5.14B | $6.05B | $6.43B | $6.66B | $6.92B | $7.60B |
| Cuentas por Pagar | $3.2M | $3.8M | $6.8M | $3.3M | $1.2M | $715000 | $2.6M | $16.1M | $16.5M | $16.5M |
| Deuda a Corto | $4.4M | $8000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $5.8M |
| Pasivos Corrientes | $2.77B | $3.27B | $3.65B | $3.99B | $4.44B | $5.23B | $5.56B | $5.73B | $5.93B | $5.8M |
| Deuda a Largo | $125.4M | $105.4M | $100.4M | $99.2M | $99.3M | $147.8M | $148.0M | $148.2M | $148.5M | $348.7M |
| Pasivos Totales | $2.92B | $3.41B | $3.80B | $4.16B | $4.62B | $5.46B | $5.79B | $5.96B | $6.16B | $6.81B |
| Reservas | $108.3M | $139.7M | $194.9M | $255.1M | $301.0M | $373.0M | $475.1M | $592.3M | $685.1M | $780.6M |
| Patrimonio Neto | $298.1M | $355.0M | $416.7M | $470.0M | $525.4M | $586.7M | $630.4M | $695.1M | $763.2M | $789.5M |
| Deuda Total | $129.8M | $105.4M | $100.4M | $119.7M | $118.0M | $170.6M | $168.9M | $168.0M | $165.5M | $383.8M |
| Deuda Neta | -$376.4M | -$529.7M | -$608.8M | -$619.6M | -$861.1M | -$1.31B | -$1.01B | -$1.04B | -$600.1M | -$443.3M |
| Capital Circulante | -$2.26B | -$2.62B | -$2.92B | -$3.23B | -$3.44B | -$3.73B | -$4.36B | -$4.48B | -$5.13B | $855.5M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | $36.4M | $43.4M | $71.0M | $78.4M | $69.5M | $95.2M | $128.8M | $150.0M | $130.7M | $133.6M |
| Amortizaciones | $929000 | $990000 | $953000 | $1.3M | $1.9M | $1.9M | $1.9M | $1.7M | $2.2M | $1.7M |
| Compensación en Acciones | $2.4M | $3.6M | $8.0M | $7.8M | $8.9M | $9.1M | $8.4M | $5.8M | $9.2M | $10.2M |
| Cambio en Capital Circulante | $7.9M | -$8.9M | $7.8M | -$7.4M | -$2.8M | $13.3M | -$3.0M | -$1.0M | $7.4M | -$693000 |
| Flujo de Caja Operativo | $52.6M | $53.2M | $99.0M | $86.8M | $103.8M | $119.6M | $143.8M | $175.4M | $164.5M | $168.1M |
| Inversiones (CapEx) | -$641000 | -$1.4M | -$2.8M | -$6.1M | -$1.5M | -$603000 | -$356000 | -$2.4M | -$919000 | -$1.4M |
| Adquisiciones | 0 | 0 | -$14.0M | -$10.4M | -$8.4M | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | -$14.1M | -$1.3M | -$20.5M | -$2.4M | -$17.7M | -$33.3M | -$55.2M | -$38.2M | -$93.1M |
| Dividendos Pagados | -$8.4M | -$11.0M | -$15.6M | -$18.3M | -$17.9M | -$21.4M | -$25.1M | -$31.1M | -$37.5M | -$38.3M |
| Flujo de Caja Libre | $52.0M | $51.8M | $96.2M | $80.7M | $102.3M | $119.0M | $143.4M | $173.0M | $163.6M | $166.8M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +27.7% | +25.2% | +14.2% | -5.4% | -0.7% | +37.8% | +59.8% | +8.0% | -4.1% | |
| Crecimiento Beneficio Neto (anual) | +19.3% | +63.6% | +10.4% | -11.4% | +37.1% | +35.3% | +16.4% | -12.9% | +2.3% | |
| Crecimiento BPA (anual) | +15.1% | +56.2% | +11.2% | -9.9% | +37.8% | +37.9% | +20.4% | -7.9% | +8.3% | |
| Cambio en Acciones (anual) | +3.6% | +3.9% | +0.0% | -1.2% | -0.1% | -0.4% | -3.7% | -5.0% | -5.3% | |
| Crecimiento FCF (anual) | -0.3% | +85.7% | -16.2% | +26.8% | +16.4% | +20.5% | +20.6% | -5.4% | +1.9% | |
| Margen Bruto | 80.3% | 79.5% | 75.0% | 71.9% | 70.0% | 89.0% | 82.0% | 58.8% | 52.2% | 55.0% |
| Margen Operativo | 46.8% | 49.4% | 48.4% | 47.8% | 44.0% | 61.2% | 59.4% | 43.7% | 35.4% | 38.0% |
| Margen EBITDA | 47.5% | 50.0% | 48.9% | 48.4% | 44.8% | 62.0% | 60.1% | 43.9% | 35.8% | 38.3% |
| Margen Neto | 28.5% | 26.6% | 34.8% | 33.6% | 31.5% | 43.5% | 42.7% | 31.1% | 25.1% | 26.8% |
| Margen FCF | 40.8% | 31.8% | 47.2% | 34.6% | 46.4% | 54.4% | 47.6% | 35.9% | 31.4% | 33.4% |
| Tasa Impositiva Efectiva | 39.1% | 46.1% | 28.1% | 29.7% | 28.3% | 28.8% | 28.1% | 28.5% | 29.0% | 29.5% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $3.72 | $3.58 | $6.39 | $5.36 | $6.87 | $8.01 | $9.68 | $12.13 | $12.07 | $12.99 |
| Dividendo por Acción | $0.60 | $0.76 | $1.04 | $1.21 | $1.20 | $1.44 | $1.70 | $2.18 | $2.77 | $2.98 |
| Acciones en Circulación (Básicas) | $13.9M | $14.4M | $15.1M | $15.1M | $14.9M | $14.9M | $14.6M | $14.1M | $13.3M | $12.6M |
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 | 17.32% |
| Rentabilidad sobre capital invertido | 1.75% |
| Rentabilidad sobre activos | 1.75% |
| Margen bruto | 55.82% |
| Margen operativo | 38.22% |
| Margen neto | 26.75% |
Salud financiera
| Deuda / Patrimonio | 0.49 |
| Ratio corriente | 255.01 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.53 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 20.32 | 19.64 | 9.34 | 11.65 | 10.85 | 11.20 | 8.44 | 6.87 | 8.81 | 8.90 |
| P/VC | 2.44 | 2.37 | 1.57 | 1.93 | 1.43 | 1.82 | 1.73 | 1.48 | 1.51 | 1.51 |
| P/V | 5.71 | 5.17 | 3.20 | 3.88 | 3.41 | 4.88 | 3.61 | 2.14 | 2.22 | 2.38 |
| Margen Bruto | 80.3% | 79.5% | 75.0% | 71.9% | 70.0% | 89.0% | 82.0% | 58.8% | 52.2% | 55.0% |
| Margen Operativo | 46.8% | 49.4% | 48.4% | 47.8% | 44.0% | 61.2% | 59.4% | 43.7% | 35.4% | 38.0% |
| Margen Neto | 28.5% | 26.6% | 34.8% | 33.6% | 31.5% | 43.5% | 42.7% | 31.1% | 25.1% | 26.8% |
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Explorar sector: Financial Services · Banks - Regional
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