Estados financieros detallados de Stellus Capital Investment Corporation (SCM): 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
Stellus Capital Investment Corporation registró ingresos de $67.0M en el último ejercicio fiscal, con un CAGR de 5 años del 9.9%. El beneficio neto alcanzó $27.0M, con un CAGR a 5 años del 6.0%.
Márgenes de los últimos 12 meses: margen bruto 59.9%, margen operativo 49.9%, margen neto 37.4%.
Al precio actual de $7.77, SCM cotiza a un P/E de 7.53 y un ROE del 8.05%. La capitalización bursátil es de $225M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $26.5M | $27.3M | $31.1M | $46.7M | $41.8M | $61.4M | $45.4M | $53.2M | $82.7M | $67.0M |
| Coste de Ventas | $6.3M | $6.3M | $13.8M | $15.0M | $16.0M | $18.7M | $24.5M | $32.0M | $31.5M | $34.9M |
| Beneficio Bruto | $20.2M | $21.0M | $17.3M | $31.7M | $25.9M | $42.7M | $20.9M | $21.2M | $51.2M | $32.0M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $3.6M | $4.2M | $4.3M | $4.3M | $4.7M | $5.0M | $5.1M | $5.5M | $5.6M | $6.5M |
| Gastos Operativos | $3.6M | $4.7M | $4.3M | $4.3M | $4.7M | $5.5M | $5.1M | $5.2M | $3.7M | $3.4M |
| Beneficio Operativo | $17.3M | $18.0M | $34.9M | $27.4M | $21.2M | $37.1M | $15.9M | $16.0M | $47.5M | $28.6M |
| EBITDA | $25.3M | $30.5M | $34.9M | $27.4M | $21.2M | $37.1M | $15.9M | $16.0M | $47.5M | $28.6M |
| Gastos por Intereses | $8.0M | $7.9M | $12.3M | $15.0M | $16.0M | $18.7M | $24.5M | $32.0M | $31.5M | $34.9M |
| Beneficio Antes de Impuestos | $22.8M | $22.6M | $26.8M | $27.4M | $21.2M | $37.1M | $15.9M | $16.0M | $47.5M | $28.6M |
| Impuestos | -$373131 | -$8593 | $611034 | $970665 | $996011 | $3.5M | $1.4M | -$1.5M | $1.6M | $1.6M |
| Beneficio Neto | $23.2M | $22.6M | $26.2M | $26.4M | $20.2M | $33.6M | $14.5M | $17.5M | $45.8M | $27.0M |
| BPA | $1.86 | $1.52 | $1.64 | $1.45 | $1.04 | $1.72 | $0.74 | $0.80 | $1.79 | $0.95 |
| BPA Diluido | $1.86 | $1.52 | $1.64 | $1.45 | $1.04 | $1.72 | $0.74 | $0.80 | $1.79 | $0.95 |
| Acciones en Circulación (Diluidas) | $12.5M | $14.9M | $16.0M | $18.3M | $19.5M | $19.5M | $19.6M | $22.0M | $25.6M | $28.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $17.4M | $15.7M | $24.0M | $22.3M |
| Beneficio Bruto | $8.5M | $6.7M | $18.7M | $13.7M |
| Beneficio Operativo | $7.2M | $5.4M | $10.9M | $16.2M |
| EBITDA | $7.2M | $5.4M | $10.9M | $16.2M |
| Beneficio Neto | $6.7M | $5.2M | $1.7M | $16.2M |
| BPA | $0.23 | $0.18 | $0.06 | $0.56 |
| BPA Diluido | $0.23 | $0.18 | $0.06 | $0.56 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $9.2M | $25.1M | $17.5M | $16.1M | $18.5M | $44.2M | $48.0M | $26.1M | $20.1M | $25.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $4.6M | $2.9M | $4.0M | $3.1M | $2.4M | $3.5M | $4.7M | $5.3M | $5.4M | $1.4M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $14.3M | $28.4M | $21.4M | $19.6M | $21.4M | $48.2M | $53.4M | $32.0M | $26.1M | $26.6M |
| 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 | $379.9M | $400.3M | $526.3M | $648.5M | $674.9M | $821.3M | $898.2M | $908.1M | $980.9M | $1.04B |
| Cuentas por Pagar | $2.4M | $2.8M | $3.7M | $4.5M | $2.1M | $4.9M | $4.6M | $5.2M | $8.9M | $10.0M |
| Deuda a Corto | $115.2M | $39.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $121.1M | $44.9M | $8.7M | $4.5M | $2.1M | $4.9M | $4.6M | $5.2M | $8.9M | $17.3M |
| Deuda a Largo | $87.9M | $135.1M | $292.3M | $366.0M | $393.2M | $518.2M | $604.1M | $575.8M | $593.0M | $651.8M |
| Pasivos Totales | $209.0M | $180.0M | $301.4M | $377.9M | $401.5M | $536.2M | $622.4M | $588.1M | $611.0M | $670.1M |
| Reservas | -$435794 | -$435794 | -$3.3M | -$1.6M | -$2.7M | $10.5M | $642226 | -$16.0M | -$9.7M | -$26.7M |
| Patrimonio Neto | $170.9M | $220.2M | $224.8M | $270.6M | $273.4M | $285.1M | $275.8M | $319.9M | $369.9M | $371.2M |
| Deuda Total | $203.1M | $174.5M | $292.3M | $366.0M | $393.2M | $518.2M | $604.1M | $575.8M | $593.0M | $651.8M |
| Deuda Neta | $193.9M | $149.3M | $274.8M | $349.9M | $374.7M | $474.0M | $556.1M | $549.7M | $573.0M | $626.8M |
| Capital Circulante | -$106.8M | -$16.5M | $12.7M | $15.1M | $19.3M | $43.4M | $48.8M | $26.8M | $17.2M | $9.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $9.0M | $25.1M | $3.4M | $5.1M |
| Activos Totales | $1.03B | $1.04B | $1.00B | $982.1M |
| Pasivos Totales | $650.9M | $670.1M | $638.3M | $615.2M |
| Patrimonio Neto | $377.7M | $371.2M | $363.0M | $367.0M |
| Deuda Total | $632.3M | $651.8M | $618.2M | $599.4M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $23.2M | $22.6M | $26.2M | $26.4M | $20.2M | $33.6M | $14.5M | $17.5M | $45.8M | $27.0M |
| Amortizaciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $1.3M | $1.0M | $2.6M | $3.2M | -$1.0M | $8.0M | $229975 | -$8.5M | $2.3M | -$901586 |
| Flujo de Caja Operativo | $8.8M | $18.9M | -$102.4M | -$93.3M | -$3.5M | -$76.1M | -$56.3M | -$17.3M | -$28.6M | -$24.4M |
| 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 | 0 | -$142 | -$1051 | 0 | -$94 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$17.0M | -$19.9M | -$21.6M | -$24.7M | -$24.3M | -$21.0M | -$26.6M | -$35.5M | -$37.6M | -$45.3M |
| Flujo de Caja Libre | $8.8M | $18.9M | -$102.4M | -$93.3M | -$3.5M | -$76.1M | -$56.3M | -$17.3M | -$28.6M | -$24.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$20.2M | $9.0M | $22.8M | $56.17T |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$20.2M | $9.0M | $22.8M | $56.17T |
| Dividendos Pagados | -$11.4M | -$11.6M | -$10.4M | -$10.4M |
| 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) | | +3.0% | +13.9% | +50.3% | -10.4% | +46.7% | -26.0% | +17.2% | +55.4% | -19.1% |
| Crecimiento Beneficio Neto (anual) | | -2.5% | +15.8% | +0.9% | -23.6% | +66.3% | -56.8% | +21.0% | +161.5% | -41.0% |
| Crecimiento BPA (anual) | | -18.3% | +7.9% | -11.6% | -28.3% | +65.4% | -57.0% | +8.1% | +123.7% | -46.9% |
| Cambio en Acciones (anual) | | +19.2% | +7.3% | +14.6% | +6.5% | +0.1% | +0.3% | +12.5% | +16.3% | +10.8% |
| Crecimiento FCF (anual) | | +113.3% | -643.3% | +8.9% | +96.3% | -2082.1% | +26.0% | +69.3% | -65.9% | +14.7% |
| Margen Bruto | 76.3% | 77.1% | 55.7% | 67.9% | 61.9% | 69.5% | 46.1% | 39.9% | 61.9% | 47.8% |
| Margen Operativo | 65.4% | 65.9% | 112.4% | 58.7% | 50.7% | 60.5% | 34.9% | 30.1% | 57.4% | 42.8% |
| Margen EBITDA | 95.7% | 111.7% | 112.4% | 58.7% | 50.7% | 60.5% | 34.9% | 30.1% | 57.4% | 42.8% |
| Margen Neto | 87.7% | 83.0% | 84.3% | 56.7% | 48.3% | 54.7% | 31.9% | 32.9% | 55.4% | 40.4% |
| Margen FCF | 33.4% | 69.2% | -329.8% | -199.9% | -8.3% | -124.0% | -123.9% | -32.4% | -34.6% | -36.5% |
| Tasa Impositiva Efectiva | -1.6% | -0.0% | 2.3% | 3.5% | 4.7% | 9.6% | 8.7% | -9.5% | 3.4% | 5.5% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.71 | $1.27 | $-6.42 | $-5.10 | $-0.18 | $-3.90 | $-2.88 | $-0.78 | $-1.12 | $-0.86 |
| Dividendo por Acción | $1.36 | $1.34 | $1.35 | $1.35 | $1.25 | $1.08 | $1.36 | $1.61 | $1.47 | $1.60 |
| Acciones en Circulación (Básicas) | $12.5M | $14.9M | $16.0M | $18.3M | $19.5M | $19.5M | $19.6M | $22.0M | $25.6M | $28.4M |
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 | 8.05% |
| Rentabilidad sobre capital invertido | 3.97% |
| Rentabilidad sobre activos | 3.03% |
| Margen bruto | 59.88% |
| Margen operativo | 49.95% |
| Margen neto | 37.45% |
Salud financiera
| Deuda / Patrimonio | 1.63 |
| Ratio corriente | 0.95 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 6.48 | 8.64 | 7.90 | 9.81 | 10.46 | 7.57 | 17.92 | 16.06 | 7.69 | 13.35 |
| P/VC | 0.88 | 0.89 | 0.92 | 0.96 | 0.77 | 0.89 | 0.94 | 0.88 | 0.95 | 0.97 |
| P/V | 5.69 | 7.17 | 6.65 | 5.57 | 5.06 | 4.13 | 5.71 | 5.31 | 4.26 | 5.37 |
| Margen Bruto | 76.3% | 77.1% | 55.7% | 67.9% | 61.9% | 69.5% | 46.1% | 39.9% | 61.9% | 47.8% |
| Margen Operativo | 65.4% | 65.9% | 112.4% | 58.7% | 50.7% | 60.5% | 34.9% | 30.1% | 57.4% | 42.8% |
| Margen Neto | 87.7% | 83.0% | 84.3% | 56.7% | 48.3% | 54.7% | 31.9% | 32.9% | 55.4% | 40.4% |