Estados financieros detallados de SB Financial Group, Inc. (SBFG): 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
SB Financial Group, Inc. registró ingresos de $91.0M en el último ejercicio fiscal, con un CAGR de 5 años del 4.6%. El beneficio neto alcanzó $14.0M, con un CAGR a 5 años del -1.3%.
Márgenes de los últimos 12 meses: margen bruto 71.2%, margen operativo 21.8%, margen neto 17.7%. El flujo de caja libre creció a un CAGR del -0.5% en 5 años.
Al precio actual de $29.32, SBFG cotiza a un P/E de 10.94 y un ROE del 11.79%. La capitalización bursátil es de $184M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $46.9M | $49.7M | $56.1M | $62.4M | $72.7M | $72.6M | $62.8M | $75.9M | $81.4M | $91.0M |
| Coste de Ventas | $3.9M | $4.5M | $6.8M | $10.4M | $11.2M | $5.1M | $5.2M | $19.2M | $24.6M | $26.8M |
| Beneficio Bruto | $43.0M | $45.2M | $49.3M | $52.0M | $61.5M | $67.5M | $57.6M | $56.7M | $56.8M | $64.3M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $18.6M | $20.2M | $22.4M | $23.8M | $26.6M | $28.3M | $25.7M | $24.2M | $25.2M | $26.5M |
| Gastos Operativos | $30.1M | $31.6M | $34.8M | $37.4M | $43.1M | $44.8M | $42.3M | $42.0M | $43.0M | $47.0M |
| Beneficio Operativo | $12.9M | $13.6M | $14.4M | $14.6M | $18.4M | $22.7M | $15.3M | $14.7M | $13.9M | $17.3M |
| EBITDA | $15.8M | $16.3M | $17.4M | $18.6M | $25.2M | $28.9M | $19.3M | $18.3M | $17.4M | $19.5M |
| Gastos por Intereses | $3.2M | $4.1M | $6.2M | $9.6M | $6.7M | $4.0M | $5.2M | $18.9M | $24.4M | $25.5M |
| Beneficio Antes de Impuestos | $12.9M | $13.6M | $14.4M | $14.6M | $18.4M | $22.7M | $15.3M | $14.7M | $13.9M | $17.3M |
| Impuestos | $4.1M | $2.6M | $2.8M | $2.7M | $3.5M | $4.4M | $2.8M | $2.6M | $2.4M | $3.3M |
| Beneficio Neto | $8.8M | $11.1M | $11.6M | $12.0M | $14.9M | $18.3M | $12.5M | $12.1M | $11.5M | $14.0M |
| BPA | $1.52 | $2.00 | $1.64 | $1.62 | $1.87 | $2.45 | $1.79 | $1.77 | $1.72 | $2.19 |
| BPA Diluido | $1.31 | $1.66 | $1.44 | $1.44 | $1.87 | $2.44 | $1.77 | $1.75 | $1.72 | $2.19 |
| Acciones en Circulación (Diluidas) | $6.7M | $6.7M | $8.1M | $8.3M | $8.0M | $7.5M | $7.0M | $6.9M | $6.7M | $6.4M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $17.0M | $26.6M | $48.4M | $27.1M | $146.5M | $152.2M | $29.9M | $24.5M | $27.5M | $72.7M |
| Inversiones a Corto | $90.1M | $82.8M | $91.0M | $100.9M | $149.4M | $263.3M | $238.8M | $219.7M | $171.8M | $73.5M |
| Cuentas por Cobrar | $1.5M | $1.8M | $2.8M | $3.1M | $3.8M | $2.9M | $4.1M | $4.7M | $4.9M | $5.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $108.7M | $111.2M | $142.2M | $131.1M | $299.7M | $418.3M | $272.8M | $248.9M | $204.2M | $151.7M |
| Inmovilizado Material | $19.1M | $21.3M | $22.1M | $23.4M | $23.6M | $23.2M | $22.8M | $21.4M | $20.5M | $21.7M |
| Fondo de Comercio | $16.4M | $16.4M | $16.4M | $17.8M | $22.1M | $23.2M | $23.2M | $23.2M | $23.2M | $27.2M |
| Activos Intangibles | $8.4M | $9.9M | $11.4M | $11.0M | $7.8M | $12.0M | $13.5M | $13.9M | $14.9M | $15.3M |
| Activos Totales | $816.0M | $876.6M | $985.9M | $1.04B | $1.26B | $1.33B | $1.34B | $1.34B | $1.38B | $1.55B |
| Cuentas por Pagar | $408000 | $592000 | $909000 | $1.2M | $616000 | $299000 | $769000 | $2.4M | $2.4M | $2.5M |
| Deuda a Corto | $10.5M | $15.1M | $15.2M | $12.9M | $20.2M | $15.3M | $14.9M | $13.4M | $10.6M | $9.2M |
| Pasivos Corrientes | $684.0M | $745.3M | $818.6M | $854.4M | $1.07B | $1.13B | $1.10B | $1.09B | $1.17B | $1.32B |
| Deuda a Largo | $26.5M | $18.5M | $16.0M | $16.0M | $8.0M | $25.0M | $79.6M | $103.2M | $54.7M | $54.7M |
| Pasivos Totales | $729.5M | $782.6M | $855.5M | $902.5M | $1.11B | $1.19B | $1.22B | $1.22B | $1.25B | $1.40B |
| Reservas | $46.7M | $55.4M | $64.0M | $72.7M | $84.6M | $99.7M | $102.0M | $108.5M | $116.2M | $126.3M |
| Patrimonio Neto | $86.5M | $94.0M | $130.4M | $136.1M | $142.9M | $144.9M | $118.4M | $124.3M | $127.5M | $141.2M |
| Deuda Total | $37.0M | $33.6M | $31.2M | $28.9M | $28.2M | $40.4M | $94.5M | $116.6M | $65.3M | $64.0M |
| Deuda Neta | -$70.1M | -$75.8M | -$108.1M | -$99.1M | -$267.7M | -$375.0M | -$174.2M | -$127.6M | -$134.0M | -$82.2M |
| Capital Circulante | -$575.4M | -$634.0M | -$676.5M | -$723.2M | -$770.1M | -$710.3M | -$829.5M | -$837.2M | -$961.4M | -$1.17B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | $8.8M | $11.1M | $11.6M | $12.0M | $14.9M | $18.3M | $12.5M | $12.1M | $11.5M | $14.0M |
| Amortizaciones | $2.9M | $2.7M | $2.9M | $4.0M | $6.7M | $6.2M | $4.0M | $3.6M | $3.6M | $4.2M |
| Compensación en Acciones | $114000 | $303000 | $278000 | $417000 | $382000 | $443000 | $568000 | $576000 | $637000 | $536000 |
| Cambio en Capital Circulante | -$172000 | -$1.1M | $1.3M | $6.7M | $716000 | -$3.9M | $2.7M | -$1.4M | -$2.3M | $844000 |
| Flujo de Caja Operativo | $14.0M | $9.8M | $13.8M | $18.8M | $23.9M | $17.3M | $25.6M | $14.0M | $9.5M | $24.0M |
| Inversiones (CapEx) | -$1.6M | -$3.7M | -$2.0M | -$2.0M | -$2.0M | -$2.4M | -$1.9M | -$958000 | -$1.2M | -$2.6M |
| Adquisiciones | 0 | 0 | 0 | -$2.6M | $16.3M | -$1.1M | 0 | 0 | 0 | -$3.0M |
| Recompra de Acciones | -$1.2M | -$1.8M | -$109000 | -$5.1M | -$7.2M | -$9.5M | -$5.9M | -$3.5M | -$4.8M | -$5.7M |
| Dividendos Pagados | -$2.2M | -$2.3M | -$3.1M | -$3.3M | -$3.1M | -$3.1M | -$3.4M | -$3.6M | -$3.8M | -$3.8M |
| Flujo de Caja Libre | $12.4M | $6.1M | $11.9M | $16.8M | $21.9M | $14.8M | $23.7M | $13.0M | $8.2M | $21.4M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +5.9% | +12.9% | +11.3% | +16.5% | -0.2% | -13.5% | +20.8% | +7.2% | +11.9% | |
| Crecimiento Beneficio Neto (anual) | +26.0% | +5.2% | +2.9% | +24.8% | +22.3% | -31.5% | -3.4% | -5.2% | +21.8% | |
| Crecimiento BPA (anual) | +31.6% | -18.0% | -1.2% | +15.4% | +31.0% | -26.9% | -1.1% | -2.8% | +27.3% | |
| Cambio en Acciones (anual) | -0.4% | +21.5% | +2.8% | -3.8% | -6.6% | -5.9% | -1.8% | -3.4% | -4.4% | |
| Crecimiento FCF (anual) | -50.9% | +94.6% | +41.6% | +30.6% | -32.4% | +59.6% | -45.0% | -36.9% | +160.7% | |
| Margen Bruto | 91.6% | 91.0% | 87.9% | 83.4% | 84.6% | 93.0% | 91.8% | 74.7% | 69.8% | 70.6% |
| Margen Operativo | 27.5% | 27.4% | 25.7% | 23.4% | 25.4% | 31.3% | 24.4% | 19.4% | 17.0% | 19.0% |
| Margen EBITDA | 33.6% | 32.9% | 31.0% | 29.9% | 34.6% | 39.9% | 30.8% | 24.1% | 21.4% | 21.4% |
| Margen Neto | 18.7% | 22.3% | 20.7% | 19.2% | 20.5% | 25.2% | 19.9% | 15.9% | 14.1% | 15.4% |
| Margen FCF | 26.4% | 12.3% | 21.1% | 26.9% | 30.1% | 20.4% | 37.7% | 17.2% | 10.1% | 23.6% |
| Tasa Impositiva Efectiva | 31.9% | 18.8% | 19.4% | 18.2% | 19.0% | 19.6% | 18.2% | 17.8% | 17.2% | 19.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $1.85 | $0.91 | $1.46 | $2.01 | $2.74 | $1.98 | $3.36 | $1.88 | $1.23 | $3.36 |
| Dividendo por Acción | $0.32 | $0.35 | $0.38 | $0.39 | $0.38 | $0.42 | $0.48 | $0.52 | $0.56 | $0.60 |
| Acciones en Circulación (Básicas) | $5.1M | $5.1M | $6.5M | $6.8M | $8.0M | $7.4M | $7.0M | $6.8M | $6.7M | $6.4M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Rentabilidad sobre capital | 11.79% |
| Rentabilidad sobre capital invertido | 1.03% |
| Rentabilidad sobre activos | 1.03% |
| Margen bruto | 71.19% |
| Margen operativo | 21.85% |
| Margen neto | 17.67% |
Salud financiera
| Deuda / Patrimonio | 0.40 |
| Ratio corriente | 21.33 |
| Piotroski F-Score | 8 |
| Altman Z-Score | -0.64 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 10.06 | 8.80 | 9.55 | 11.57 | 9.31 | 7.64 | 9.47 | 8.67 | 12.16 | 10.17 |
| P/VC | 0.90 | 0.95 | 0.78 | 0.93 | 0.97 | 0.96 | 1.00 | 0.84 | 1.09 | 1.00 |
| P/V | 1.67 | 1.79 | 1.82 | 2.04 | 1.91 | 1.92 | 1.89 | 1.38 | 1.71 | 1.56 |
| Margen Bruto | 91.6% | 91.0% | 87.9% | 83.4% | 84.6% | 93.0% | 91.8% | 74.7% | 69.8% | 70.6% |
| Margen Operativo | 27.5% | 27.4% | 25.7% | 23.4% | 25.4% | 31.3% | 24.4% | 19.4% | 17.0% | 19.0% |
| Margen Neto | 18.7% | 22.3% | 20.7% | 19.2% | 20.5% | 25.2% | 19.9% | 15.9% | 14.1% | 15.4% |
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