Estados financieros detallados de SAIHEAT Limited (SAIH): 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
SAIHEAT Limited registró ingresos de $4.5M en el último ejercicio fiscal, con un CAGR de 5 años del 18.2%.
Márgenes de los últimos 12 meses: margen bruto -51.9%, margen operativo -116.5%, margen neto -142.7%.
Al precio actual de $26.43, SAIH presenta beneficios negativos (P/E no significativo) y un ROE del -67.71%. La capitalización bursátil es de $49M.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $2.0M | $17.0M | $10.6M | $6.8M | $5.5M | $4.5M |
| Coste de Ventas | $1.1M | $15.8M | $9.5M | $6.3M | $6.6M | $6.9M |
| Beneficio Bruto | $902000 | $1.3M | $1.1M | $457000 | -$1.0M | -$2.3M |
| I+D | $348000 | $419000 | $476000 | $853000 | $642000 | $217000 |
| Generales y Administrativos | $232000 | $17.2M | $7.2M | $6.8M | $6.3M | $2.7M |
| Gastos Operativos | $620000 | $17.7M | $8.6M | $7.8M | $6.9M | $2.9M |
| Beneficio Operativo | $282000 | -$16.5M | -$7.5M | -$7.4M | -$7.9M | -$5.3M |
| EBITDA | $405000 | -$16.0M | -$4.7M | -$5.7M | -$4.0M | -$3.7M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $456000 | -$16.7M | -$8.8M | -$6.1M | -$5.9M | -$6.5M |
| Impuestos | $53000 | $24000 | 0 | 0 | 0 | 0 |
| Beneficio Neto | $403000 | -$16.7M | -$8.8M | -$6.1M | -$5.9M | -$6.5M |
| BPA | $1.01 | $-19.37 | $-6.72 | $-3.79 | $-3.46 | $-3.51 |
| BPA Diluido | $1.01 | $-19.37 | $-6.72 | $-3.79 | $-3.46 | $-3.51 |
| Acciones en Circulación (Diluidas) | $398318 | $862243 | $1.3M | $1.6M | $1.7M | $1.8M |
Cuenta de Resultados (Trimestral)
| Año | 2022-Q4 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Ingresos | -$114000 | $2.3M | $3.8M | $689000 |
| Beneficio Bruto | -$64000 | -$895000 | -$1.0M | -$1.3M |
| Beneficio Operativo | -$4.3M | -$5.1M | -$3.4M | -$1.9M |
| EBITDA | -$764672 | -$3.9M | -$3.4M | -$1.9M |
| Beneficio Neto | -$4.7M | -$3.9M | -$2.9M | -$3.6M |
| BPA | $-3.94 | $-2.25 | $-1.57 | $-1.95 |
| BPA Diluido | $-3.94 | $-2.25 | $-1.57 | $-1.95 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $130000 | $1.3M | $4.5M | $11.2M | $3.2M | $1.0M | $202000 |
| Inversiones a Corto | 0 | 0 | 0 | $12000 | $81000 | $20000 | $45000 |
| Cuentas por Cobrar | $27000 | $862000 | $1.8M | $2.1M | $1.5M | $925000 | $1.3M |
| Inventario | 0 | $900000 | $198000 | $152000 | $44000 | $772000 | $63000 |
| Activos Corrientes | $201000 | $3.2M | $6.9M | $18.7M | $12.3M | $10.9M | $11.2M |
| Inmovilizado Material | $14000 | $438000 | $4.4M | $2.3M | $5.8M | $4.6M | $1.5M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | $409000 | $265000 | $94000 | 0 | 0 | 0 |
| Activos Totales | $245000 | $4.0M | $11.5M | $21.1M | $18.1M | $18.5M | $12.7M |
| Cuentas por Pagar | 0 | $47000 | $1.3M | $165000 | $45000 | $438000 | $715000 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | $2.1M | $3.7M |
| Pasivos Corrientes | $180000 | $324000 | $1.4M | $555000 | $687000 | $3.7M | $4.9M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $180000 | $3.5M | $13.9M | $786000 | $1.3M | $4.2M | $5.3M |
| Reservas | -$78000 | $292000 | -$16.4M | -$25.3M | -$31.3M | -$37.2M | -$44.3M |
| Patrimonio Neto | $65000 | $496000 | -$2.4M | $20.3M | $16.8M | $14.4M | $7.4M |
| Deuda Total | 0 | 0 | $44000 | $419000 | $810000 | $2.7M | $4.2M |
| Deuda Neta | -$130000 | -$1.3M | -$4.4M | -$10.8M | -$2.4M | $1.6M | $3.9M |
| Capital Circulante | $21000 | $2.9M | $5.5M | $18.1M | $11.6M | $7.2M | $6.4M |
Balance (Trimestral)
| Año | 2024-Q2 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Caja y Equivalentes | $1.9M | $1.0M | $1.1M | $202000 |
| Activos Totales | $17.6M | $18.5M | $17.2M | $12.7M |
| Pasivos Totales | $2.0M | $4.2M | $5.5M | $5.3M |
| Patrimonio Neto | $15.6M | $14.4M | $11.7M | $7.4M |
| Deuda Total | $1.6M | $2.7M | $3.6M | $4.2M |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $403000 | -$16.7M | -$8.8M | -$6.1M | -$5.9M | -$6.5M |
| Amortizaciones | $83000 | $317000 | $1.8M | $1.6M | $1.9M | $1.6M |
| Compensación en Acciones | 0 | $14.5M | $1.1M | $2.6M | $3.5M | 0 |
| Cambio en Capital Circulante | -$1.6M | $572000 | -$638000 | -$921000 | -$3.0M | -$3.7M |
| Flujo de Caja Operativo | -$1.0M | -$983000 | -$4.9M | -$3.1M | -$5.6M | -$7.6M |
| Inversiones (CapEx) | -$759000 | -$4.0M | -$1.9M | -$5.0M | -$713000 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | $239000 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$1.8M | -$5.0M | -$6.8M | -$8.2M | -$6.3M | -$7.6M |
Flujo de Caja (Trimestral)
| Año | 2021-Q2 | 2021-Q4 |
|---|
| Flujo de Caja Operativo | -$41663 | -$624443 |
| Inversiones (CapEx) | $3 | $3 |
| Flujo de Caja Libre | -$41660 | -$624440 |
| Dividendos Pagados | 0 | 0 |
| Compensación en Acciones | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +770.6% | -37.6% | -36.3% | -18.2% | -18.4% |
| Crecimiento Beneficio Neto (anual) | | -4244.9% | +47.0% | +30.8% | +3.8% | -9.7% |
| Crecimiento BPA (anual) | | -2017.8% | +65.3% | +43.6% | +8.7% | -1.4% |
| Cambio en Acciones (anual) | | +116.5% | +52.7% | +22.6% | +5.4% | +7.9% |
| Crecimiento FCF (anual) | | -176.1% | -37.4% | -20.1% | +23.3% | -21.5% |
| Margen Bruto | 46.1% | 7.4% | 10.7% | 6.7% | -18.2% | -51.9% |
| Margen Operativo | 14.4% | -96.6% | -70.2% | -108.8% | -142.7% | -116.5% |
| Margen EBITDA | 20.7% | -93.9% | -44.1% | -83.6% | -72.0% | -82.1% |
| Margen Neto | 20.6% | -98.0% | -83.1% | -90.3% | -106.2% | -142.7% |
| Margen FCF | -91.7% | -29.1% | -64.0% | -120.6% | -113.1% | -168.4% |
| Tasa Impositiva Efectiva | 11.6% | -0.1% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-4.50 | $-5.74 | $-5.17 | $-5.06 | $-3.68 | $-4.15 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $398318 | $862243 | $1.3M | $1.6M | $1.7M | $1.8M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -67.71% |
| Rentabilidad sobre capital invertido | -45.42% |
| Rentabilidad sobre activos | -50.76% |
| Margen bruto | -51.88% |
| Margen operativo | -116.45% |
| Margen neto | -142.72% |
Salud financiera
| Deuda / Patrimonio | 0.57 |
| Ratio corriente | 2.30 |
| Piotroski F-Score | 0 |
| Altman Z-Score | -3.38 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 0.00 | 143.84 | -7.62 | -4.49 | -4.35 | -3.34 | -2.62 |
| P/VC | 0.00 | 116.67 | -53.86 | 1.95 | 1.58 | 1.37 | 2.28 |
| P/V | 0.00 | 29.57 | 7.47 | 3.73 | 3.93 | 3.55 | 3.74 |
| Margen Bruto | 0.0% | 46.1% | 7.4% | 10.7% | 6.7% | -18.2% | -51.9% |
| Margen Operativo | 0.0% | 14.4% | -96.6% | -70.2% | -108.8% | -142.7% | -116.5% |
| Margen Neto | 0.0% | 20.6% | -98.0% | -83.1% | -90.3% | -106.2% | -142.7% |