Estados financieros detallados de PennantPark Floating Rate Capital Ltd. (PFLT): 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
PennantPark Floating Rate Capital Ltd. registró ingresos de $171.5M en el último ejercicio fiscal, con un CAGR de 5 años del 28.1%. El beneficio neto alcanzó $66.4M, con un CAGR a 5 años del 29.2%.
Márgenes de los últimos 12 meses: margen bruto 55.2%, margen operativo 56.8%, margen neto 28.3%.
Al precio actual de $7.02, PFLT cotiza a un P/E de 13.66 y un ROE del 4.82%. La capitalización bursátil es de $697M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $42.6M | $49.3M | $64.0M | $42.5M | $49.8M | $83.6M | $41.4M | $80.3M | $167.8M | $171.5M |
| Coste de Ventas | $4.9M | $8.3M | $14.4M | $22.5M | $27.1M | $21.6M | $29.8M | $38.2M | $59.2M | $93.2M |
| Beneficio Bruto | $37.7M | $40.9M | $49.6M | $19.9M | $22.7M | $61.9M | $11.6M | $42.2M | $108.6M | $78.3M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $3.3M | $4.2M | $4.5M | $4.0M | $3.9M | $2.1M | $3.2M | $4.4M | $6.7M | $7.5M |
| Gastos Operativos | $4.2M | $4.3M | $15.3M | $8.5M | $3.9M | $5.0M | $3.2M | $4.4M | $15.7M | $10.8M |
| Beneficio Operativo | $33.5M | $36.6M | $34.3M | $11.4M | $18.8M | $56.9M | $8.4M | $37.7M | $92.9M | $67.5M |
| EBITDA | $38.4M | $45.0M | $48.7M | $34.0M | $18.8M | $56.9M | $8.4M | $39.1M | $92.9M | $67.5M |
| Gastos por Intereses | $4.9M | $8.3M | $14.4M | $22.5M | $27.1M | $21.6M | $29.8M | $38.2M | $59.2M | $93.2M |
| Beneficio Antes de Impuestos | $33.5M | $36.6M | $34.3M | $11.4M | $18.8M | $56.9M | $8.4M | $37.7M | $92.9M | $67.5M |
| Impuestos | 0 | $300000 | $800000 | 0 | $400000 | $400000 | $5.0M | -$1.5M | $1.1M | $1.1M |
| Beneficio Neto | $33.5M | $36.3M | $33.5M | $11.4M | $18.4M | $56.5M | $3.5M | $39.3M | $91.8M | $66.4M |
| BPA | $1.25 | $1.20 | $0.87 | $0.29 | $0.47 | $1.46 | $0.08 | $0.77 | $1.40 | $0.72 |
| BPA Diluido | $1.25 | $1.20 | $0.87 | $0.29 | $0.47 | $1.46 | $0.08 | $0.77 | $1.40 | $0.72 |
| Acciones en Circulación (Diluidas) | $26.7M | $30.3M | $38.3M | $38.8M | $38.8M | $38.8M | $41.1M | $50.8M | $65.7M | $92.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $46.6M | $25.8M | $58.4M | $46.8M |
| Beneficio Bruto | $20.8M | -$1.4M | $44.7M | $34.0M |
| Beneficio Operativo | $18.8M | -$4.0M | $54.3M | $31.7M |
| EBITDA | $18.8M | -$4.0M | $52.9M | $31.7M |
| Beneficio Neto | $17.5M | -$3.6M | $28.7M | $7.6M |
| BPA | $0.18 | $-0.04 | $0.29 | $0.08 |
| BPA Diluido | $0.18 | $-0.04 | $0.29 | $0.08 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $28.9M | $18.9M | $72.2M | $63.3M | $57.5M | $49.8M | $51.5M | $100.6M | $112.0M | $122.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $2.5M | $16.7M | $2.8M | $6.9M | $3.7M | $39.4M | $11.0M | $11.0M | $13.1M | $15.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $32.5M | $36.8M | $75.8M | $70.7M | $61.4M | $89.2M | $63.2M | $112.4M | $125.3M | $136.5M |
| 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 | $631.4M | $747.3M | $1.08B | $1.15B | $1.15B | $1.17B | $1.23B | $1.18B | $2.11B | $2.91B |
| Cuentas por Pagar | $18.0M | $25.5M | $65.9M | $19.0M | $11.1M | $22.7M | $12.5M | $20.8M | $45.0M | $46.4M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $255.5M | $289.4M | $405.1M | $289.8M | $11.1M | $22.7M | $12.5M | $20.8M | $45.0M | $46.4M |
| Deuda a Largo | 0 | 0 | $135.5M | $359.6M | $653.2M | $652.6M | $672.8M | $495.4M | $1.18B | $1.78B |
| Pasivos Totales | $255.5M | $289.4M | $540.6M | $649.3M | $671.0M | $680.2M | $700.4M | $526.0M | $1.23B | $1.84B |
| Reservas | $3.2M | $7.5M | -$3.7M | -$35.6M | -$60.9M | -$48.2M | -$91.0M | -$111.6M | -$99.5M | -$145.1M |
| Patrimonio Neto | $375.9M | $457.9M | $535.8M | $503.1M | $477.3M | $490.6M | $527.1M | $653.6M | $877.3M | $1.07B |
| Deuda Total | 0 | 0 | $135.5M | $359.6M | $653.2M | $652.6M | $672.8M | $495.4M | $1.18B | $1.78B |
| Deuda Neta | -$28.9M | -$18.9M | $63.3M | $296.2M | $595.7M | $602.8M | $621.3M | $394.9M | $1.06B | $1.65B |
| Capital Circulante | -$223.0M | -$252.6M | -$329.3M | -$219.1M | $50.3M | $66.5M | $50.7M | $91.6M | $80.3M | $90.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $122.7M | $95.3M | $121.9M | $50.7M |
| Activos Totales | $2.91B | $2.72B | $2.75B | $2.63B |
| Pasivos Totales | $1.84B | $1.68B | $1.71B | $1.62B |
| Patrimonio Neto | $1.07B | $1.04B | $1.04B | $1.02B |
| Deuda Total | $1.78B | $1.63B | $1.67B | $1.57B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $33.5M | $36.3M | $33.5M | $11.4M | $18.4M | $56.5M | $3.5M | $39.3M | $91.8M | $66.4M |
| Amortizaciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $1.4M | -$19.1M | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $9.3M | -$5.4M | $54.1M | -$50.9M | -$4.9M | -$25.5M | $18.9M | $1.1M | $20.7M | $1.0M |
| Flujo de Caja Operativo | -$165.5M | -$76.7M | -$208.3M | -$121.4M | -$4.9M | $49.8M | -$46.6M | $140.6M | -$801.4M | $95.0M |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$30.5M | -$34.3M | -$43.0M | -$44.2M | -$44.2M | -$44.2M | -$46.1M | -$58.7M | -$78.8M | -$111.6M |
| Flujo de Caja Libre | -$165.5M | -$76.7M | -$208.3M | -$121.4M | -$4.9M | $49.8M | -$46.6M | $140.6M | -$801.4M | $95.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $42.2M | $148.6M | -$8.9M | $135.6M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $42.2M | $148.6M | -$8.9M | $135.6M |
| Dividendos Pagados | -$30.5M | -$30.5M | -$30.5M | -$61.0M |
| 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) | | +15.5% | +29.9% | -33.6% | +17.2% | +67.8% | -50.5% | +94.2% | +108.9% | +2.2% |
| Crecimiento Beneficio Neto (anual) | | +8.5% | -7.8% | -65.9% | +61.3% | +206.9% | -93.9% | +1037.0% | +133.9% | -27.7% |
| Crecimiento BPA (anual) | | -4.0% | -27.5% | -66.7% | +62.1% | +210.6% | -94.2% | +815.6% | +81.8% | -48.6% |
| Cambio en Acciones (anual) | | +13.3% | +26.5% | +1.2% | +0.0% | -0.0% | +5.9% | +23.8% | +29.3% | +40.8% |
| Crecimiento FCF (anual) | | +53.6% | -171.5% | +41.7% | +95.9% | +1107.8% | -193.5% | +401.8% | -670.1% | +111.9% |
| Margen Bruto | 88.5% | 83.1% | 77.6% | 46.9% | 45.6% | 74.1% | 28.1% | 52.5% | 64.7% | 45.6% |
| Margen Operativo | 78.5% | 74.4% | 53.6% | 26.9% | 37.8% | 68.1% | 20.4% | 47.0% | 55.4% | 39.4% |
| Margen EBITDA | 90.1% | 91.3% | 76.0% | 79.9% | 37.8% | 68.1% | 20.4% | 48.7% | 55.4% | 39.4% |
| Margen Neto | 78.5% | 73.7% | 52.3% | 26.9% | 37.0% | 67.6% | 8.3% | 48.9% | 54.7% | 38.7% |
| Margen FCF | -388.0% | -155.7% | -325.5% | -285.8% | -9.9% | 59.6% | -112.6% | 175.0% | -477.5% | 55.4% |
| Tasa Impositiva Efectiva | 0.0% | 0.8% | 2.3% | 0.0% | 2.1% | 0.7% | 59.0% | -4.0% | 1.2% | 1.7% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-6.19 | $-2.53 | $-5.44 | $-3.13 | $-0.13 | $1.28 | $-1.13 | $2.77 | $-12.19 | $1.03 |
| Dividendo por Acción | $1.14 | $1.13 | $1.12 | $1.14 | $1.14 | $1.14 | $1.12 | $1.16 | $1.20 | $1.21 |
| Acciones en Circulación (Básicas) | $26.7M | $30.3M | $38.3M | $38.8M | $38.8M | $38.8M | $41.1M | $50.8M | $65.7M | $92.5M |
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 | 4.82% |
| Rentabilidad sobre capital invertido | 3.89% |
| Rentabilidad sobre activos | 1.91% |
| Margen bruto | 55.20% |
| Margen operativo | 56.75% |
| Margen neto | 28.29% |
Salud financiera
| Deuda / Patrimonio | 1.55 |
| Ratio corriente | 3.04 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 10.58 | 12.07 | 15.06 | 40.00 | 17.96 | 8.76 | 114.15 | 13.84 | 8.26 | 12.35 |
| P/VC | 0.94 | 0.96 | 0.94 | 0.89 | 0.69 | 1.01 | 0.75 | 0.83 | 0.87 | 0.77 |
| P/V | 8.29 | 8.90 | 7.84 | 10.59 | 6.57 | 5.93 | 9.53 | 6.75 | 4.53 | 4.80 |
| Margen Bruto | 88.5% | 83.1% | 77.6% | 46.9% | 45.6% | 74.1% | 28.1% | 52.5% | 64.7% | 45.6% |
| Margen Operativo | 78.5% | 74.4% | 53.6% | 26.9% | 37.8% | 68.1% | 20.4% | 47.0% | 55.4% | 39.4% |
| Margen Neto | 78.5% | 73.7% | 52.3% | 26.9% | 37.0% | 67.6% | 8.3% | 48.9% | 54.7% | 38.7% |