Estados financieros detallados de Rand Capital Corp (RAND): 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
Rand Capital Corp registró ingresos de $4.5M en el último ejercicio fiscal, con un CAGR de 5 años del 5.3%.
Márgenes de los últimos 12 meses: margen bruto 89.4%, margen operativo 42.0%, margen neto -2.2%. El flujo de caja libre creció a un CAGR del 13.1% en 5 años.
Al precio actual de $10.75, RAND presenta beneficios negativos (P/E no significativo) y un ROE del -0.28%. La capitalización bursátil es de $32M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | -$5.0M | $1.3M | $1.8M | -$587281 | $3.5M | $17.2M | $682436 | $9.1M | $11.2M | $4.5M |
| Coste de Ventas | $310276 | $310275 | $311000 | $408039 | $416760 | $617270 | $69960 | $1.0M | $1.1M | -$298242 |
| Beneficio Bruto | -$5.4M | $946483 | $1.5M | -$995320 | $3.0M | $16.6M | $612476 | $8.1M | $10.1M | $4.8M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $909164 | $866273 | $883355 | $1.4M | $968699 | $994901 | $1.2M | $1.3M | $1.3M | $942389 |
| Gastos Operativos | $1.7M | $1.7M | $1.8M | $2.2M | $968699 | $994901 | $1.2M | $1.3M | $1.3M | $12.7M |
| Beneficio Operativo | -$7.1M | -$742219 | -$301095 | -$3.2M | $2.1M | $15.6M | -$558327 | $6.8M | $8.8M | -$7.9M |
| EBITDA | -$7.0M | -$710786 | -$271409 | -$3.1M | $2.1M | $15.8M | -$545827 | $6.8M | $8.8M | -$7.9M |
| Gastos por Intereses | $310276 | $310275 | $311000 | $408039 | $416760 | $617270 | $69960 | $1.0M | $1.1M | $112528 |
| Beneficio Antes de Impuestos | -$7.1M | -$742219 | -$301095 | -$3.2M | $2.1M | $15.6M | -$558327 | $6.8M | $8.8M | -$8.0M |
| Impuestos | -$5.9M | -$31541 | $93403 | -$867844 | $1.3M | -$201480 | $323522 | $296675 | -$43045 | $44819 |
| Beneficio Neto | -$1.2M | -$710678 | -$394498 | -$2.3M | $743766 | $15.8M | -$881849 | $6.5M | $8.8M | -$8.0M |
| BPA | $-1.71 | $-1.01 | $-0.56 | $-2.74 | $0.33 | $6.12 | $-0.34 | $2.53 | $3.42 | $-2.73 |
| BPA Diluido | $-1.71 | $-1.01 | $-0.56 | $-2.74 | $0.33 | $6.12 | $-0.34 | $2.53 | $3.42 | $-2.73 |
| Acciones en Circulación (Diluidas) | $702865 | $702442 | $702443 | $836892 | $2.3M | $2.6M | $2.6M | $2.6M | $2.6M | $2.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $1.6M | $1.3M | $2.3M | $1.4M |
| Beneficio Bruto | $1.6M | $1.0M | $2.1M | $1.2M |
| Beneficio Operativo | $1.0M | $1.3M | -$337003 | $819505 |
| EBITDA | $1.0M | $1.3M | -$330753 | $825755 |
| Beneficio Neto | -$2.2M | $1.1M | -$367469 | $1.4M |
| BPA | $-0.75 | $0.37 | $-0.12 | $0.46 |
| BPA Diluido | $-0.75 | $0.37 | $-0.12 | $0.46 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $12.3M | $6.3M | $4.0M | $25.8M | $20.4M | $833875 | $1.4M | $3.3M | $834805 | $4.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.5M | $271412 | $156960 | $399353 | $323886 | $299532 | $379976 | $329690 | $393584 | $168039 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $13.7M | $7.3M | $5.3M | $26.6M | $20.9M | $1.4M | $1.8M | $3.8M | $1.6M | $4.5M |
| Inmovilizado Material | $6523 | $2490 | $262 | 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 | $42.4M | $40.1M | $40.5M | $64.8M | $61.0M | $65.6M | $63.5M | $81.0M | $72.5M | $53.2M |
| Cuentas por Pagar | $1.6M | $322348 | $370758 | $287873 | $3.6M | $51689 | $66680 | $145516 | $2.3M | $101975 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $1.6M | $322348 | $370758 | $287873 | $3.6M | $51689 | $66680 | $1.1M | $2.3M | $621262 |
| Deuda a Largo | $7.8M | $7.9M | $8.6M | $10.8M | $10.8M | 0 | $2.5M | $16.2M | $600000 | 0 |
| Pasivos Totales | $9.8M | $8.2M | $9.0M | $11.2M | $14.9M | $4.9M | $5.8M | $20.2M | $7.1M | $1.0M |
| Reservas | -$1.6M | -$1.6M | -$1.7M | $19.4M | -$4.6M | $10.4M | $7.6M | $6.3M | $2.5M | -$10.6M |
| Patrimonio Neto | $32.6M | $31.9M | $31.5M | $53.6M | $46.1M | $60.7M | $57.7M | $60.8M | $65.3M | $52.2M |
| Deuda Total | $7.8M | $7.9M | $8.6M | $10.8M | $10.8M | 0 | $2.5M | $16.2M | $600000 | 0 |
| Deuda Neta | -$4.5M | $1.6M | $4.5M | -$15.0M | -$9.5M | -$833875 | $1.2M | $13.0M | -$234805 | -$4.2M |
| Capital Circulante | $12.2M | $7.0M | $5.0M | $26.3M | $17.3M | $1.3M | $1.8M | $2.6M | -$685895 | $3.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $9.5M | $4.2M | $330550 | $429639 |
| Activos Totales | $54.6M | $53.2M | $52.5M | $57.7M |
| Pasivos Totales | $958274 | $1.0M | $1.6M | $6.2M |
| Patrimonio Neto | $53.6M | $52.2M | $51.0M | $51.5M |
| Deuda Total | 0 | 0 | $500000 | $5.1M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$1.2M | -$710678 | -$394498 | -$2.3M | $743766 | $15.8M | -$881849 | $6.5M | $8.8M | -$8.0M |
| Amortizaciones | $33390 | $31433 | $29686 | $37295 | $37675 | $175412 | $12500 | $25000 | $25000 | $25000 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $1.8M | -$1.2M | -$179170 | $472445 | $455372 | $4.4M | -$1.6M | $734963 | $134430 | -$3.1M |
| Flujo de Caja Operativo | $6.5M | -$6.0M | -$2.9M | $5.8M | $6.1M | $6.4M | $252368 | $6.1M | $15.3M | $11.3M |
| Inversiones (CapEx) | -$837 | 0 | 0 | -$3 | -$5 | $5 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$21614 | 0 | 0 | 0 | -$76729 | -$20771 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | -$4.8M | -$4.6M | -$2.1M | -$3.4M | -$2.1M | -$7.3M |
| Flujo de Caja Libre | $6.5M | -$6.0M | -$2.9M | $5.8M | $6.1M | $6.4M | $252368 | $6.1M | $15.3M | $11.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $5.9M | -$2.8M | $261913 | -$7.4M |
| Inversiones (CapEx) | 0 | 0 | -$4 | $8 |
| Flujo de Caja Libre | $5.9M | -$2.8M | $261909 | -$7.4M |
| Dividendos Pagados | -$861246 | -$2.5M | -$861129 | -$861246 |
| 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) | | +124.9% | +40.6% | -133.2% | +688.6% | +397.8% | -96.0% | +1239.3% | +22.8% | -60.1% |
| Crecimiento Beneficio Neto (anual) | | +40.9% | +44.5% | -480.4% | +132.5% | +2024.0% | -105.6% | +840.1% | +35.3% | -191.1% |
| Crecimiento BPA (anual) | | +40.9% | +44.6% | -389.3% | +112.0% | +1754.5% | -105.6% | +844.1% | +35.2% | -179.8% |
| Cambio en Acciones (anual) | | -0.1% | +0.0% | +19.1% | +171.0% | +13.8% | -0.0% | +0.0% | +0.0% | +14.1% |
| Crecimiento FCF (anual) | | -193.2% | +51.8% | +301.4% | +4.3% | +4.7% | -96.0% | +2323.9% | +150.6% | -26.6% |
| Margen Bruto | 106.2% | 75.3% | 82.4% | 169.5% | 87.9% | 96.4% | 89.7% | 88.6% | 90.3% | 106.7% |
| Margen Operativo | 140.0% | -59.1% | -17.0% | 537.6% | 59.9% | 90.6% | -81.8% | 74.7% | 78.3% | -176.2% |
| Margen EBITDA | 139.3% | -56.6% | -15.4% | 531.3% | 61.0% | 91.7% | -80.0% | 74.9% | 78.5% | -175.6% |
| Margen Neto | 23.9% | -56.5% | -22.3% | 389.9% | 21.5% | 91.8% | -129.2% | 71.4% | 78.7% | -179.7% |
| Margen FCF | -128.1% | -478.9% | -164.1% | -994.8% | 176.3% | 37.1% | 37.0% | 66.9% | 136.7% | 251.5% |
| Tasa Impositiva Efectiva | 83.0% | 4.2% | -31.0% | 27.5% | 64.1% | -1.3% | -57.9% | 4.3% | -0.5% | -0.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $9.19 | $-8.57 | $-4.13 | $6.98 | $2.69 | $2.47 | $0.10 | $2.37 | $5.94 | $3.82 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $2.10 | $1.77 | $0.83 | $1.33 | $0.83 | $2.47 |
| Acciones en Circulación (Básicas) | $702865 | $702442 | $702443 | $836892 | $2.3M | $2.6M | $2.6M | $2.6M | $2.6M | $2.9M |
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 | -0.28% |
| Rentabilidad sobre capital invertido | -18.08% |
| Rentabilidad sobre activos | -0.25% |
| Margen bruto | 89.39% |
| Margen operativo | 41.97% |
| Margen neto | -2.22% |
Salud financiera
| Deuda / Patrimonio | 0.10 |
| Ratio corriente | 0.17 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -16.63 | -26.91 | -40.18 | -8.80 | 53.33 | 2.78 | -39.18 | 5.13 | 5.63 | -4.16 |
| P/VC | 0.61 | 0.60 | 0.50 | 0.38 | 0.87 | 0.72 | 0.60 | 0.55 | 0.76 | 0.64 |
| P/V | -3.97 | 15.19 | 8.94 | -34.37 | 11.55 | 2.55 | 50.38 | 3.67 | 4.43 | 7.48 |
| Margen Bruto | 106.2% | 75.3% | 82.4% | 169.5% | 87.9% | 96.4% | 89.7% | 88.6% | 90.3% | 106.7% |
| Margen Operativo | 140.0% | -59.1% | -17.0% | 537.6% | 59.9% | 90.6% | -81.8% | 74.7% | 78.3% | -176.2% |
| Margen Neto | 23.9% | -56.5% | -22.3% | 389.9% | 21.5% | 91.8% | -129.2% | 71.4% | 78.7% | -179.7% |