Estados financieros detallados de Silicom Ltd. (SILC): 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
Silicom Ltd. registró ingresos de $61.9M en el último ejercicio fiscal, con un CAGR de 5 años del -10.4%.
Márgenes de los últimos 12 meses: margen bruto 30.2%, margen operativo -14.2%, margen neto -13.0%.
Al precio actual de $42.48, SILC presenta beneficios negativos (P/E no significativo) y un ROE del -8.37%. La capitalización bursátil es de $244M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $100.3M | $125.7M | $133.8M | $105.2M | $107.4M | $128.5M | $150.6M | $124.1M | $58.1M | $61.9M |
| Coste de Ventas | $61.8M | $79.8M | $91.7M | $69.1M | $73.6M | $84.1M | $98.6M | $95.4M | $41.5M | $43.0M |
| Beneficio Bruto | $38.6M | $45.9M | $42.1M | $36.1M | $33.8M | $44.4M | $52.0M | $28.7M | $16.6M | $18.9M |
| I+D | $12.7M | $13.9M | $14.8M | $15.1M | $17.2M | $20.1M | $20.6M | $20.6M | $19.5M | $20.1M |
| Generales y Administrativos | $10.4M | $11.2M | $10.6M | $10.8M | $10.3M | $11.2M | $11.5M | $11.2M | $10.4M | $11.1M |
| Gastos Operativos | $23.1M | $25.1M | $25.4M | $25.9M | $27.5M | $31.3M | $32.0M | $57.4M | $29.9M | $31.2M |
| Beneficio Operativo | $15.8M | $25.4M | $16.7M | $10.2M | $6.2M | $13.1M | $19.9M | -$28.7M | -$13.3M | -$12.3M |
| EBITDA | $19.4M | $24.6M | $19.9M | $12.2M | $8.6M | $15.4M | $24.9M | -$616000 | -$9.1M | -$9.0M |
| Gastos por Intereses | $122000 | $109000 | $93000 | $148000 | $171000 | $48000 | $74000 | $45000 | $11000 | 0 |
| Beneficio Antes de Impuestos | $15.9M | $25.6M | $17.6M | $11.9M | $7.3M | $12.9M | $22.4M | -$27.3M | -$11.3M | -$10.6M |
| Impuestos | $2.7M | $3.9M | $2.9M | $1.6M | $1.6M | $2.4M | $4.1M | -$889000 | $2.4M | $871000 |
| Beneficio Neto | $13.1M | $21.7M | $14.6M | $10.2M | $5.7M | $10.5M | $18.3M | -$26.4M | -$13.7M | -$11.5M |
| BPA | $1.79 | $2.91 | $1.94 | $1.36 | $0.80 | $1.54 | $2.73 | $-3.94 | $-2.28 | $-2.01 |
| BPA Diluido | $1.77 | $2.86 | $1.91 | $1.35 | $0.80 | $1.51 | $2.69 | $-3.94 | $-2.28 | $-2.01 |
| Acciones en Circulación (Diluidas) | $7.4M | $7.6M | $7.7M | $7.6M | $7.2M | $7.0M | $6.8M | $6.7M | $6.0M | $5.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $15.6M | $16.9M | $19.1M | $23.8M |
| Beneficio Bruto | $4.9M | $5.0M | $5.6M | $7.2M |
| Beneficio Operativo | -$3.1M | -$2.8M | -$2.8M | -$2.0M |
| EBITDA | -$2.6M | -$910000 | -$2.4M | -$1.6M |
| Beneficio Neto | -$2.8M | -$2.5M | -$2.4M | -$2.1M |
| BPA | $-0.49 | $-0.44 | $-0.41 | $-0.37 |
| BPA Diluido | $-0.49 | $-0.44 | $-0.41 | $-0.37 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $11.9M | $17.0M | $26.8M | $16.5M | $20.7M | $29.3M | $30.7M | $47.0M | $51.3M | $35.2M |
| Inversiones a Corto | $16.3M | $7.8M | $1.6M | $27.6M | $40.1M | $8.3M | $4.0M | $8.0M | $20.9M | $13.0M |
| Cuentas por Cobrar | $30.8M | $46.1M | $27.2M | $28.5M | $21.7M | $34.7M | $29.5M | $27.7M | $15.3M | $13.3M |
| Inventario | $44.3M | $51.5M | $42.4M | $36.5M | $47.6M | $75.8M | $88.0M | $51.6M | $41.1M | $52.0M |
| Activos Corrientes | $103.3M | $123.5M | $104.1M | $110.4M | $136.2M | $149.1M | $153.6M | $135.1M | $129.8M | $113.5M |
| Inmovilizado Material | $3.9M | $4.1M | $3.7M | $7.4M | $14.0M | $13.3M | $12.9M | $10.0M | $10.0M | $9.3M |
| Fondo de Comercio | $25.6M | $25.6M | $25.6M | $25.6M | $25.6M | $25.6M | $25.6M | 0 | 0 | 0 |
| Activos Intangibles | $2.9M | $1.0M | $966000 | $1.7M | $1.2M | $4.3M | $6.7M | $2.3M | $2.3M | $2.6M |
| Activos Totales | $146.4M | $162.6M | $182.3M | $195.1M | $195.9M | $219.6M | $216.2M | $167.7M | $150.4M | $152.5M |
| Cuentas por Pagar | $10.5M | $12.6M | $15.4M | $16.4M | $14.6M | $29.9M | $15.9M | $4.1M | $6.5M | $11.1M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $2.0M |
| Pasivos Corrientes | $18.0M | $19.0M | $21.5M | $26.3M | $29.4M | $50.3M | $27.1M | $12.9M | $15.1M | $27.6M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $4.3M |
| Pasivos Totales | $25.0M | $21.8M | $24.2M | $32.1M | $41.0M | $61.1M | $36.9M | $19.5M | $22.6M | $35.0M |
| Reservas | $74.6M | $88.9M | $103.5M | $113.8M | $119.5M | $130.0M | $147.6M | $121.2M | $107.5M | $96.0M |
| Patrimonio Neto | $121.4M | $140.8M | $158.1M | $162.9M | $154.8M | $158.5M | $179.3M | $148.3M | $127.8M | $117.5M |
| Deuda Total | 0 | 0 | 0 | $3.8M | $10.1M | $9.2M | $7.8M | $5.9M | $6.5M | $10.5M |
| Deuda Neta | -$28.2M | -$24.8M | -$28.4M | -$40.3M | -$50.7M | -$28.4M | -$26.9M | -$49.0M | -$65.7M | -$37.6M |
| Capital Circulante | $85.3M | $104.4M | $82.5M | $84.1M | $106.9M | $98.8M | $126.5M | $122.3M | $114.7M | $85.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $38.4M | $35.2M | $30.0M | $25.1M |
| Activos Totales | $151.2M | $152.5M | $158.8M | $162.9M |
| Pasivos Totales | $31.6M | $35.0M | $42.8M | $48.1M |
| Patrimonio Neto | $119.6M | $117.5M | $116.0M | $114.8M |
| Deuda Total | $6.4M | $10.5M | $6.6M | $6.4M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $13.1M | $21.7M | $14.6M | $10.2M | $5.7M | $10.5M | $18.3M | -$26.4M | -$13.7M | -$11.5M |
| Amortizaciones | $3.9M | $3.8M | $3.3M | $2.0M | $2.4M | $2.4M | $2.4M | $2.5M | $2.4M | $1.6M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | -$24.3M | -$25.6M | $19.2M | $10.4M | -$9.3M | -$20.7M | -$32.5M | $17.3M | $20.9M | $2.5M |
| Flujo de Caja Operativo | -$2.7M | $1.4M | $45.7M | $26.7M | $5.0M | $1.1M | -$4.1M | $31.9M | $18.3M | -$2.2M |
| Inversiones (CapEx) | -$1.4M | -$1.7M | -$1.3M | -$1.4M | -$1.7M | -$2.6M | -$2.1M | -$1.1M | -$932000 | -$1.2M |
| Adquisiciones | 0 | $11000 | $1.0M | $1.0M | $1.5M | $3.6M | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | -$8.0M | -$16.8M | -$14.3M | -$3.4M | -$9.3M | -$9.9M | -$1.7M |
| Dividendos Pagados | -$7.3M | -$7.4M | -$7.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$4.1M | -$282000 | $44.3M | $25.3M | $3.3M | -$1.5M | -$6.2M | $30.8M | $17.4M | -$3.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | 0 | -$2.2M | 0 | 0 |
| Inversiones (CapEx) | 0 | -$1.2M | 0 | 0 |
| Flujo de Caja Libre | 0 | -$3.3M | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | $902000 | $903000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +25.3% | +6.4% | -21.3% | +2.1% | +19.6% | +17.2% | -17.6% | -53.2% | +6.6% |
| Crecimiento Beneficio Neto (anual) | | +65.3% | -32.6% | -30.1% | -44.1% | +84.1% | +73.7% | -244.3% | +48.1% | +16.3% |
| Crecimiento BPA (anual) | | +62.6% | -33.3% | -29.9% | -41.2% | +92.5% | +77.3% | -244.3% | +42.1% | +11.8% |
| Cambio en Acciones (anual) | | +2.2% | +0.7% | -1.1% | -5.5% | -2.6% | -2.5% | -1.4% | -10.2% | -5.2% |
| Crecimiento FCF (anual) | | +93.2% | +15820.9% | -43.0% | -87.1% | -146.2% | -310.0% | +598.5% | -43.7% | -119.3% |
| Margen Bruto | 38.4% | 36.5% | 31.4% | 34.3% | 31.4% | 34.6% | 34.5% | 23.1% | 28.6% | 30.6% |
| Margen Operativo | 15.8% | 20.2% | 12.4% | 9.7% | 5.8% | 10.2% | 13.2% | -23.1% | -22.8% | -19.8% |
| Margen EBITDA | 19.3% | 19.6% | 14.9% | 11.6% | 8.0% | 12.0% | 16.5% | -0.5% | -15.7% | -14.6% |
| Margen Neto | 13.1% | 17.3% | 10.9% | 9.7% | 5.3% | 8.2% | 12.2% | -21.3% | -23.6% | -18.5% |
| Margen FCF | -4.1% | -0.2% | 33.1% | 24.0% | 3.0% | -1.2% | -4.1% | 24.8% | 29.9% | -5.4% |
| Tasa Impositiva Efectiva | 17.2% | 15.1% | 16.7% | 13.7% | 21.4% | 18.3% | 18.2% | 3.3% | -21.1% | -8.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.56 | $-0.04 | $5.79 | $3.34 | $0.46 | $-0.22 | $-0.91 | $4.60 | $2.88 | $-0.59 |
| Dividendo por Acción | $0.98 | $0.97 | $0.96 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $7.3M | $7.5M | $7.6M | $7.5M | $7.1M | $6.8M | $6.7M | $6.7M | $6.0M | $5.7M |
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 | -8.37% |
| Rentabilidad sobre capital invertido | -8.58% |
| Rentabilidad sobre activos | -6.01% |
| Margen bruto | 30.16% |
| Margen operativo | -14.17% |
| Margen neto | -12.98% |
Salud financiera
| Deuda / Patrimonio | 0.06 |
| Ratio corriente | 3.06 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 3.13 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 22.96 | 25.62 | 18.01 | 24.46 | 52.31 | 33.51 | 15.44 | -4.59 | -7.15 | -7.31 |
| P/VC | 2.49 | 3.95 | 1.67 | 1.54 | 1.92 | 2.22 | 1.57 | 0.82 | 0.77 | 0.71 |
| P/V | 3.01 | 4.42 | 1.97 | 2.38 | 2.77 | 2.74 | 1.87 | 0.98 | 1.69 | 1.35 |
| Margen Bruto | 38.4% | 36.5% | 31.4% | 34.3% | 31.4% | 34.6% | 34.5% | 23.1% | 28.6% | 30.6% |
| Margen Operativo | 15.8% | 20.2% | 12.4% | 9.7% | 5.8% | 10.2% | 13.2% | -23.1% | -22.8% | -19.8% |
| Margen Neto | 13.1% | 17.3% | 10.9% | 9.7% | 5.3% | 8.2% | 12.2% | -21.3% | -23.6% | -18.5% |