Estados financieros detallados de PennantPark Investment Corporation (PNNT): 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 Investment Corporation registró ingresos de $83.1M en el último ejercicio fiscal, con un CAGR de 5 años del 30.1%.
Márgenes de los últimos 12 meses: margen bruto 63.5%, margen operativo 27.1%, margen neto 10.2%.
Al precio actual de $3.48, PNNT cotiza a un P/E de 22.04 y un ROE del 0.01%. La capitalización bursátil es de $227M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $49.3M | $94.5M | $73.7M | $60.1M | $22.3M | $193.8M | $23.8M | $19.2M | $103.7M | $83.1M |
| Coste de Ventas | $27.6M | $26.6M | $22.8M | $31.1M | $32.2M | $22.5M | $28.8M | $39.4M | $45.2M | $41.3M |
| Beneficio Bruto | $21.7M | $67.9M | $50.9M | $29.0M | -$9.9M | $171.3M | -$5.0M | -$20.2M | $58.5M | $41.8M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $7.2M | $6.2M | $4.6M | $4.8M | $6.8M | $4.1M | $3.9M | $5.7M | $6.6M | $1.5M |
| Gastos Operativos | $633115 | $4.5M | $3.2M | $11.8M | $4.9M | $4.1M | $11.9M | $6.0M | $6.6M | $6.5M |
| Beneficio Operativo | $21.1M | $63.4M | $47.7M | $17.1M | -$14.8M | $167.2M | -$16.9M | -$26.1M | $51.9M | $35.3M |
| EBITDA | $21.1M | $63.4M | $47.7M | $17.1M | -$14.8M | $167.2M | -$16.9M | -$26.1M | $51.9M | $35.3M |
| Gastos por Intereses | $27.6M | $26.6M | $22.8M | $31.1M | $32.2M | $22.5M | $28.8M | $39.4M | $45.2M | $41.3M |
| Beneficio Antes de Impuestos | $21.1M | $63.4M | $47.7M | $17.1M | -$14.8M | $167.2M | -$16.9M | -$26.1M | $51.9M | $35.3M |
| Impuestos | $2.4M | $1.7M | 0 | $1.2M | $1.2M | $600000 | $7.9M | $7.7M | $3.1M | $2.6M |
| Beneficio Neto | $18.7M | $61.7M | $47.7M | $15.9M | -$16.0M | $166.6M | -$24.7M | -$33.8M | $48.9M | $32.7M |
| BPA | $0.26 | $0.87 | $0.68 | $0.24 | $-0.24 | $2.49 | $-0.38 | $-0.52 | $0.75 | $0.50 |
| BPA Diluido | $0.26 | $0.87 | $0.68 | $0.24 | $-0.24 | $2.49 | $-0.38 | $-0.52 | $0.75 | $0.50 |
| Acciones en Circulación (Diluidas) | $71.6M | $71.1M | $70.7M | $67.7M | $67.0M | $67.0M | $65.2M | $65.2M | $65.2M | $65.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $11.0M | $27.3M | $24.5M | $36.8M |
| Beneficio Bruto | $930000 | $12.9M | $18.5M | $31.0M |
| Beneficio Operativo | -$370000 | $7.7M | $6.2M | $13.5M |
| EBITDA | -$370000 | $64.6M | $6.2M | $13.5M |
| Beneficio Neto | -$964000 | $9.0M | -$2.3M | $4.5M |
| BPA | $-0.01 | $0.14 | $-0.04 | $0.07 |
| BPA Diluido | $-0.01 | $0.14 | $-0.04 | $0.07 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $75.6M | $38.2M | $19.5M | $59.5M | $25.8M | $20.4M | $54.8M | $38.8M | $49.9M | $51.8M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $7.0M | $5.9M | $7.6M | $6.2M | $6.4M | $19.4M | $35.5M | $11.9M | $10.9M | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$5.1M | 0 | 0 |
| Activos Corrientes | $85.3M | $48.6M | $28.0M | $66.4M | $32.6M | $39.8M | $94.3M | $55.3M | $61.0M | $51.8M |
| 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 | $1.24B | $1.20B | $1.16B | $1.29B | $1.11B | $1.30B | $1.32B | $1.16B | $1.39B | $1.35B |
| Cuentas por Pagar | $27.4M | $20.7M | $19.0M | $15.0M | $15.5M | $21.4M | $22.7M | $95.4M | $115.8M | $140.6M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $27.4M | $20.7M | $19.0M | $15.0M | $15.5M | $21.4M | $22.7M | $106.7M | $115.8M | $146.7M |
| Deuda a Largo | $559.6M | $526.1M | $504.3M | $683.8M | $568.3M | $607.3M | $704.5M | $516.8M | $772.0M | $738.9M |
| Pasivos Totales | $595.6M | $555.4M | $531.2M | $703.9M | $588.6M | $634.9M | $735.1M | $654.8M | $895.2M | $885.6M |
| Reservas | $3.1M | $3.3M | -$174.9M | -$206.4M | -$262.0M | -$126.9M | -$162.7M | -$244.3M | -$250.1M | -$276.6M |
| Patrimonio Neto | $643.4M | $646.8M | $628.9M | $581.9M | $525.7M | $660.1M | $585.6M | $502.2M | $493.9M | $463.9M |
| Deuda Total | $559.6M | $526.1M | $504.3M | $683.8M | $568.3M | $607.3M | $704.5M | $516.8M | $772.0M | $738.9M |
| Deuda Neta | $484.0M | $487.9M | $484.8M | $624.2M | $542.5M | $587.0M | $649.7M | $478.1M | $722.2M | $687.1M |
| Capital Circulante | $57.8M | $27.9M | $9.0M | $51.4M | $17.1M | $18.4M | $71.6M | -$51.4M | -$54.7M | -$94.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $51.8M | $45.9M | $15.07B | $39.3M |
| Activos Totales | $1.35B | $1.29B | $1.26T | $1.26B |
| Pasivos Totales | $885.6M | $836.3M | $818.83B | $834.9M |
| Patrimonio Neto | $463.9M | $457.2M | $439.23B | $428.0M |
| Deuda Total | $738.9M | $609.3M | $223.40B | $547.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $18.7M | $61.7M | $47.7M | $15.9M | -$16.0M | $166.6M | -$24.7M | -$33.8M | $48.9M | 0 |
| Amortizaciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$42.6M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | -$2.3M | -$322016 | -$194699 | -$4.7M | $3.6M | -$5.4M | -$19.3M | $126.8M | -$1.7M | $29.5M |
| Flujo de Caja Operativo | $157.7M | $69.2M | $66.9M | -$81.1M | -$129.6M | $7.9M | -$17.3M | $222.9M | -$172.4M | $66.1M |
| 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 | -$12.2M | 0 | -$15.0M | -$14.5M | 0 | 0 | -$13.2M | 0 | 0 | 0 |
| Dividendos Pagados | -$80.3M | -$65.4M | -$51.0M | -$48.8M | -$44.2M | -$32.2M | -$34.9M | -$45.7M | -$65.9M | -$67.9M |
| Flujo de Caja Libre | $157.7M | $69.2M | $66.9M | -$81.1M | -$129.6M | $7.9M | -$17.3M | $222.9M | -$172.4M | $66.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $17.3M | $61.3M | $31.1M | $128.0M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $17.3M | $61.3M | $31.1M | $128.0M |
| Dividendos Pagados | -$20.9M | -$10.4M | -$15.7M | -$26.1M |
| 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) | | +91.6% | -22.0% | -18.5% | -62.9% | +768.8% | -87.7% | -19.2% | +438.9% | -19.9% |
| Crecimiento Beneficio Neto (anual) | | +229.4% | -22.7% | -66.6% | -200.3% | +1143.3% | -114.8% | -36.6% | +244.5% | -33.0% |
| Crecimiento BPA (anual) | | +234.6% | -21.8% | -64.7% | -200.0% | +1137.5% | -115.3% | -36.8% | +244.2% | -33.3% |
| Cambio en Acciones (anual) | | -0.8% | -0.5% | -4.2% | -1.0% | +0.0% | -2.7% | +0.0% | +0.0% | +0.1% |
| Crecimiento FCF (anual) | | -56.1% | -3.3% | -221.2% | -59.8% | +106.1% | -318.7% | +1389.2% | -177.3% | +138.4% |
| Margen Bruto | 44.0% | 71.8% | 69.0% | 48.2% | -44.2% | 88.4% | -20.8% | -104.8% | 56.4% | 50.3% |
| Margen Operativo | 42.8% | 67.1% | 64.7% | 28.5% | -66.2% | 86.3% | -70.8% | -135.8% | 50.1% | 42.5% |
| Margen EBITDA | 42.8% | 67.1% | 64.7% | 28.5% | -66.2% | 86.3% | -70.8% | -135.8% | 50.1% | 42.5% |
| Margen Neto | 38.0% | 65.3% | 64.7% | 26.5% | -71.6% | 86.0% | -103.9% | -175.7% | 47.1% | 39.4% |
| Margen FCF | 319.8% | 73.3% | 90.8% | -135.1% | -580.9% | 4.1% | -72.7% | 1158.7% | -166.2% | 79.6% |
| Tasa Impositiva Efectiva | 11.1% | 2.7% | 0.0% | 7.0% | -8.1% | 0.4% | -46.7% | -29.4% | 6.0% | 7.3% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $2.20 | $0.97 | $0.95 | $-1.20 | $-1.93 | $0.12 | $-0.27 | $3.42 | $-2.64 | $1.01 |
| Dividendo por Acción | $1.12 | $0.92 | $0.72 | $0.72 | $0.66 | $0.48 | $0.53 | $0.70 | $1.01 | $1.04 |
| Acciones en Circulación (Básicas) | $71.6M | $71.1M | $70.7M | $67.7M | $67.0M | $67.0M | $65.2M | $65.0M | $65.2M | $65.3M |
Qué mirar en Servicios Financieros
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- 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 | 0.01% |
| Rentabilidad sobre capital invertido | 1.91% |
| Rentabilidad sobre activos | 0.80% |
| Margen bruto | 63.52% |
| Margen operativo | 27.11% |
| Margen neto | 10.18% |
Salud financiera
| Deuda / Patrimonio | 1.28 |
| Ratio corriente | 0.94 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 28.92 | 8.63 | 11.01 | 26.12 | -13.29 | 2.61 | -14.37 | -12.65 | 9.32 | 13.42 |
| P/VC | 0.84 | 0.83 | 0.84 | 0.73 | 0.41 | 0.66 | 0.61 | 0.85 | 0.92 | 0.94 |
| P/V | 10.92 | 5.65 | 7.18 | 7.07 | 9.59 | 2.24 | 14.96 | 22.23 | 4.40 | 5.27 |
| Margen Bruto | 44.0% | 71.8% | 69.0% | 48.2% | -44.2% | 88.4% | -20.8% | -104.8% | 56.4% | 50.3% |
| Margen Operativo | 42.8% | 67.1% | 64.7% | 28.5% | -66.2% | 86.3% | -70.8% | -135.8% | 50.1% | 42.5% |
| Margen Neto | 38.0% | 65.3% | 64.7% | 26.5% | -71.6% | 86.0% | -103.9% | -175.7% | 47.1% | 39.4% |