Estados financieros detallados de Resources Connection, Inc. (RGP): 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
Resources Connection, Inc. registró ingresos de $452.0M en el último ejercicio fiscal, con un CAGR de 5 años del -6.4%.
Márgenes de los últimos 12 meses: margen bruto 37.5%, margen operativo -7.3%, margen neto -9.0%. El flujo de caja libre creció a un CAGR del -55.7% en 5 años.
Al precio actual de $4.03, RGP presenta beneficios negativos (P/E no significativo) y un ROE del -21.44%. La capitalización bursátil es de $139M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $583.4M | $654.1M | $729.0M | $703.4M | $629.5M | $805.0M | $775.6M | $632.8M | $551.3M | $452.0M |
| Coste de Ventas | $362.1M | $408.1M | $446.6M | $427.9M | $388.1M | $488.4M | $462.5M | $386.7M | $343.9M | $282.3M |
| Beneficio Bruto | $221.3M | $246.1M | $282.4M | $275.5M | $241.4M | $316.6M | $313.1M | $246.1M | $207.4M | $169.7M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $183.5M | $209.0M | $223.8M | $228.1M | $209.3M | $224.7M | $228.4M | $204.8M | $196.9M | $202.8M |
| Gastos Operativos | $186.9M | $215.4M | $232.3M | $238.8M | $218.5M | $233.2M | $240.4M | $217.3M | $404.2M | $207.9M |
| Beneficio Operativo | $34.4M | $30.6M | $50.2M | $36.7M | $23.0M | $83.4M | $72.8M | $28.8M | -$196.8M | -$38.3M |
| EBITDA | $37.9M | $37.0M | $58.6M | $48.1M | $33.4M | $92.5M | $84.7M | $41.3M | $10.5M | -$33.1M |
| Gastos por Intereses | $773000 | $1.9M | $2.2M | $2.1M | $1.6M | $1.1M | $552000 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $33.8M | $28.9M | $48.0M | $35.2M | $22.7M | $83.0M | $72.6M | $29.8M | -$196.1M | -$38.1M |
| Impuestos | $15.1M | $10.1M | $16.5M | $6.9M | -$2.5M | $15.8M | $18.3M | $8.8M | -$4.3M | $2.5M |
| Beneficio Neto | $18.7M | $18.8M | $31.5M | $28.3M | $25.2M | $67.2M | $54.4M | $21.0M | -$191.8M | -$40.6M |
| BPA | $0.57 | $0.61 | $1.00 | $0.88 | $0.78 | $2.04 | $1.63 | $0.63 | $-5.80 | $-1.21 |
| BPA Diluido | $0.56 | $0.60 | $0.98 | $0.88 | $0.78 | $2.00 | $1.59 | $0.62 | $-5.80 | $-1.21 |
| Acciones en Circulación (Diluidas) | $33.5M | $31.2M | $32.2M | $32.2M | $32.6M | $33.6M | $34.2M | $33.9M | $33.1M | $33.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $120.2M | $117.7M | $107.9M | $106.1M |
| Beneficio Bruto | $47.5M | $43.7M | $37.5M | $41.0M |
| Beneficio Operativo | -$2.0M | -$12.2M | -$3.6M | -$15.3M |
| EBITDA | $1.1M | -$9.1M | -$7.7M | -$15.5M |
| Beneficio Neto | -$2.4M | -$12.7M | -$9.5M | -$16.1M |
| BPA | $-0.07 | $-0.38 | $-0.28 | $-0.47 |
| BPA Diluido | $-0.07 | $-0.38 | $-0.28 | $-0.47 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $62.3M | $56.5M | $43.0M | $95.6M | $74.4M | $104.2M | $116.8M | $108.9M | $86.1M | $82.4M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $100.1M | $131.2M | $135.5M | $129.2M | $153.6M | $188.3M | $142.1M | $116.1M | $107.3M | $71.9M |
| Inventario | 0 | 0 | $6.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $166.8M | $194.9M | $191.7M | $231.0M | $235.3M | $308.5M | $264.1M | $240.8M | $203.7M | $169.6M |
| Inmovilizado Material | $23.4M | $22.4M | $26.6M | $57.9M | $45.2M | $35.2M | $31.2M | $15.7M | $27.0M | $20.7M |
| Fondo de Comercio | $171.1M | $191.9M | $190.8M | $214.1M | $216.8M | $209.8M | $206.7M | $216.6M | $28.8M | $28.8M |
| Activos Intangibles | 0 | $18.5M | $14.6M | $20.1M | $20.2M | $15.8M | $11.5M | $9.6M | $19.0M | $15.2M |
| Activos Totales | $364.1M | $432.7M | $428.4M | $529.2M | $520.6M | $581.5M | $532.0M | $510.9M | $304.7M | $257.4M |
| Cuentas por Pagar | $14.1M | $23.3M | $21.6M | $15.8M | $16.0M | $13.6M | $14.5M | $15.2M | $13.9M | $12.0M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $71.8M | $94.5M | $91.4M | $94.9M | $100.9M | $124.3M | $97.1M | $72.4M | $75.4M | $67.5M |
| Deuda a Largo | $48.0M | $63.0M | $43.0M | $88.0M | $43.0M | $54.0M | 0 | 0 | 0 | 0 |
| Pasivos Totales | $126.0M | $163.8M | $146.0M | $225.5M | $191.1M | $209.0M | $117.5M | $92.2M | $97.6M | $87.6M |
| Reservas | $332.0M | $335.7M | $350.2M | $360.5M | $367.2M | $52.7M | $87.6M | $88.6M | -$121.6M | -$174.3M |
| Patrimonio Neto | $238.1M | $268.8M | $282.4M | $303.7M | $329.5M | $372.4M | $414.5M | $418.8M | $207.1M | $169.8M |
| Deuda Total | $48.0M | $63.0M | $43.0M | $129.9M | $73.9M | $75.5M | $17.7M | $13.3M | $25.3M | $22.5M |
| Deuda Neta | -$14.3M | $6.5M | -$45000 | $34.3M | -$445000 | -$28.7M | -$99.0M | -$95.6M | -$60.8M | -$59.9M |
| Capital Circulante | $95.1M | $100.4M | $100.2M | $136.1M | $134.4M | $184.2M | $167.0M | $168.3M | $128.3M | $102.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $77.5M | $89.8M | $82.8M | $82.4M |
| Activos Totales | $287.2M | $289.3M | $274.1M | $257.4M |
| Pasivos Totales | $80.9M | $94.7M | $87.4M | $87.6M |
| Patrimonio Neto | $206.4M | $194.6M | $186.7M | $169.8M |
| Deuda Total | $25.4M | $24.6M | $24.4M | $22.5M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | $18.7M | $18.8M | $31.5M | $28.3M | $25.2M | $67.2M | $54.4M | $21.0M | -$191.8M | -$40.6M |
| Amortizaciones | $3.5M | $6.4M | $8.5M | $10.8M | $9.1M | $8.5M | $8.6M | $8.4M | $7.7M | $10.3M |
| Compensación en Acciones | 0 | $6.0M | $6.6M | $6.1M | $6.6M | $8.2M | $9.5M | $5.7M | $6.8M | $11.6M |
| Cambio en Capital Circulante | -$4.9M | -$11.7M | -$10.4M | -$261000 | -$19.2M | -$24.7M | $14.5M | -$10.4M | $9.9M | $14.8M |
| Flujo de Caja Operativo | $28.3M | $15.4M | $43.6M | $49.5M | $39.9M | $49.4M | $81.6M | $21.9M | $18.9M | $1.4M |
| Inversiones (CapEx) | -$4.8M | -$2.2M | -$6.9M | -$2.3M | -$3.8M | -$3.0M | -$2.0M | -$1.1M | -$2.7M | -$808000 |
| Adquisiciones | $233000 | -$23.5M | 0 | -$30.4M | $3000 | 0 | $6.0M | -$7.4M | -$10.9M | $1.9M |
| Recompra de Acciones | -$118.9M | -$5.1M | -$29.9M | -$5.0M | 0 | -$19.7M | -$15.2M | -$8.0M | -$13.0M | 0 |
| Dividendos Pagados | -$14.2M | -$14.3M | -$16.2M | -$17.6M | -$18.2M | -$18.6M | -$18.8M | -$18.8M | -$18.6M | -$9.4M |
| Flujo de Caja Libre | $23.5M | $13.2M | $36.7M | $47.2M | $36.1M | $46.5M | $79.6M | $20.8M | $16.2M | $619000 |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$8.1M | $15.9M | -$8.7M | $2.4M |
| Inversiones (CapEx) | -$121000 | -$321000 | -$101000 | -$563000 |
| Flujo de Caja Libre | -$8.3M | $15.6M | -$8.8M | $1.9M |
| Dividendos Pagados | -$2.3M | -$2.3M | -$2.4M | -$2.4M |
| Compensación en Acciones | 0 | $4.7M | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +12.1% | +11.4% | -3.5% | -10.5% | +27.9% | -3.6% | -18.4% | -12.9% | -18.0% |
| Crecimiento Beneficio Neto (anual) | | +0.9% | +67.2% | -10.1% | -10.8% | +166.3% | -19.1% | -61.3% | -1011.8% | +78.8% |
| Crecimiento BPA (anual) | | +7.0% | +63.9% | -12.0% | -11.4% | +161.5% | -20.1% | -61.3% | -1020.6% | +79.1% |
| Cambio en Acciones (anual) | | -6.8% | +3.2% | +0.1% | +1.0% | +3.1% | +1.9% | -0.8% | -2.5% | +1.5% |
| Crecimiento FCF (anual) | | -44.0% | +179.1% | +28.5% | -23.5% | +28.8% | +71.3% | -73.9% | -22.1% | -96.2% |
| Margen Bruto | 37.9% | 37.6% | 38.7% | 39.2% | 38.3% | 39.3% | 40.4% | 38.9% | 37.6% | 37.5% |
| Margen Operativo | 5.9% | 4.7% | 6.9% | 5.2% | 3.6% | 10.4% | 9.4% | 4.5% | -35.7% | -8.5% |
| Margen EBITDA | 6.5% | 5.7% | 8.0% | 6.8% | 5.3% | 11.5% | 10.9% | 6.5% | 1.9% | -7.3% |
| Margen Neto | 3.2% | 2.9% | 4.3% | 4.0% | 4.0% | 8.3% | 7.0% | 3.3% | -34.8% | -9.0% |
| Margen FCF | 4.0% | 2.0% | 5.0% | 6.7% | 5.7% | 5.8% | 10.3% | 3.3% | 2.9% | 0.1% |
| Tasa Impositiva Efectiva | 44.8% | 34.8% | 34.4% | 19.7% | -11.2% | 19.0% | 25.1% | 29.5% | 2.2% | -6.4% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $0.70 | $0.42 | $1.14 | $1.46 | $1.11 | $1.39 | $2.33 | $0.61 | $0.49 | $0.02 |
| Dividendo por Acción | $0.42 | $0.46 | $0.50 | $0.55 | $0.56 | $0.55 | $0.55 | $0.56 | $0.56 | $0.28 |
| Acciones en Circulación (Básicas) | $32.9M | $30.7M | $31.6M | $32.0M | $32.4M | $33.0M | $33.4M | $33.4M | $33.1M | $33.6M |
Qué mirar en Industrials
Aeroespacial, defensa, maquinaria, transporte. Semi-cíclicos. Clave: backlog, márgenes operativos, y conversión de FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — El mejor indicador de disciplina operativa en industriales
- ROIC — Industriales de calidad tienen ROIC >15% — el resto destruyen capital
- FCF conversion — FCF / Net Income — en industriales bueno >85%
- Deuda neta / EBITDA — Industriales cíclicos con deuda alta sufren mucho en recesión
- Capex / Ingresos — Mantener la maquinaria. <4% = posible infraversión (deterioro futuro)
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
Rentabilidad
| Rentabilidad sobre capital | -21.44% |
| Rentabilidad sobre capital invertido | -17.02% |
| Rentabilidad sobre activos | -15.77% |
| Margen bruto | 37.54% |
| Margen operativo | -7.33% |
| Margen neto | -8.98% |
Salud financiera
| Deuda / Patrimonio | 0.13 |
| Ratio corriente | 2.51 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 0.69 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | 22.02 | 27.30 | 15.35 | 12.49 | 18.69 | 8.91 | 9.55 | 17.71 | -0.90 | -3.74 |
| P/VC | 1.73 | 1.90 | 1.72 | 1.16 | 1.44 | 1.61 | 1.25 | 0.89 | 0.83 | 0.89 |
| P/V | 0.71 | 0.78 | 0.67 | 0.50 | 0.75 | 0.74 | 0.67 | 0.59 | 0.31 | 0.34 |
| Margen Bruto | 37.9% | 37.6% | 38.7% | 39.2% | 38.3% | 39.3% | 40.4% | 38.9% | 37.6% | 37.5% |
| Margen Operativo | 5.9% | 4.7% | 6.9% | 5.2% | 3.6% | 10.4% | 9.4% | 4.5% | -35.7% | -8.5% |
| Margen Neto | 3.2% | 2.9% | 4.3% | 4.0% | 4.0% | 8.3% | 7.0% | 3.3% | -34.8% | -9.0% |