Estados financieros detallados de Sound Group Inc. (SOGP): 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
Sound Group Inc. registró ingresos de $3.02B en el último ejercicio fiscal, con un CAGR de 5 años del 15.0%.
Márgenes de los últimos 12 meses: margen bruto 30.0%, margen operativo 7.5%, margen neto 7.8%. El flujo de caja libre creció a un CAGR del 73.7% en 5 años.
Al precio actual de $11.38, SOGP cotiza a un P/E de 1.44 y un ROE del 54.90%. La capitalización bursátil es de $54M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $453.5M | $798.6M | $1.18B | $1.50B | $2.12B | $2.19B | $2.07B | $2.03B | $3.02B |
| Coste de Ventas | $330.8M | $565.6M | $910.2M | $1.13B | $1.50B | $1.47B | $1.49B | $1.47B | $2.14B |
| Beneficio Bruto | $122.7M | $232.9M | $270.4M | $368.2M | $617.0M | $716.3M | $585.4M | $556.9M | $880.5M |
| I+D | $43.2M | $83.2M | $158.0M | $225.3M | $264.7M | $283.3M | $301.5M | $232.7M | $233.7M |
| Generales y Administrativos | $229.4M | $161.7M | $254.3M | $231.6M | $490.8M | $366.3M | $431.6M | $413.9M | $435.7M |
| Gastos Operativos | $270.6M | $241.3M | $402.8M | $456.9M | $755.5M | $649.7M | $733.0M | $646.6M | $669.4M |
| Beneficio Operativo | -$147.9M | -$8.4M | -$132.4M | -$88.7M | -$138.5M | $66.7M | -$147.7M | -$89.7M | $211.1M |
| EBITDA | -$142.0M | $1.4M | -$119.8M | -$48.0M | -$92.7M | $123.0M | -$101.4M | -$48.5M | $233.4M |
| Gastos por Intereses | $2.0M | 0 | 0 | $1.8M | $2.9M | $2.5M | $1.6M | $416000 | $27237 |
| Beneficio Antes de Impuestos | -$153.7M | -$9.3M | -$133.0M | -$81.2M | -$126.9M | $86.7M | -$134.1M | -$77.7M | $217.3M |
| Impuestos | 0 | 0 | 0 | $999000 | $376000 | $207000 | $434000 | $3.3M | $2.7M |
| Beneficio Neto | -$153.7M | -$9.3M | -$133.0M | -$82.2M | -$127.2M | $86.5M | -$126.7M | -$69.6M | $220.3M |
| BPA | $-54.90 | $-3.40 | $-42.00 | $-54.00 | $-26.00 | $16.00 | $-24.00 | $-14.00 | $46.00 |
| BPA Diluido | $-54.90 | $-3.40 | $-42.00 | $-54.00 | $-26.00 | $16.00 | $-24.00 | $-14.00 | $46.00 |
| Acciones en Circulación (Diluidas) | $4.1M | $4.1M | $4.6M | $4.4M | $5.0M | $5.2M | $5.4M | $5.1M | $4.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $872.5M | $443.7M | $845.3M | $845.3M |
| Beneficio Bruto | $256.6M | $129.4M | $258.1M | $258.1M |
| Beneficio Operativo | $76.9M | $31.0M | $59.4M | $59.4M |
| EBITDA | $79.8M | $32.0M | $61.3M | $61.3M |
| Beneficio Neto | $78.0M | $32.4M | $61.8M | $61.8M |
| BPA | $17.98 | $6.00 | $14.54 | $14.54 |
| BPA Diluido | $17.98 | $6.00 | $14.00 | $14.00 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $206.5M | $205.6M | $82.7M | $315.5M | $533.3M | $568.2M | $495.0M | $441.9M | $660.3M |
| Inversiones a Corto | 0 | 0 | 0 | $73.0M | 0 | $111.4M | 0 | 0 | 0 |
| Cuentas por Cobrar | $14.6M | $6.9M | $6.4M | $11.2M | $15.1M | $8.2M | $12.9M | $11.3M | $22.8M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $231.1M | $218.0M | $104.5M | $419.9M | $577.5M | $723.5M | $533.1M | $489.4M | $711.0M |
| Inmovilizado Material | $8.9M | $17.2M | $32.4M | $38.8M | $62.3M | $51.7M | $31.3M | $29.2M | $35.7M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $2.1M | $1.5M | $1.7M | $2.9M | $2.2M | $1.2M | $1.4M | $1.2M | $879557 |
| Activos Totales | $242.5M | $236.7M | $140.7M | $463.8M | $642.9M | $776.3M | $566.6M | $521.4M | $750.1M |
| Cuentas por Pagar | $52.5M | $76.7M | $72.3M | $78.3M | $80.8M | $53.8M | $43.2M | $39.4M | $58.8M |
| Deuda a Corto | 0 | 0 | 0 | $39.5M | $69.0M | $73.8M | $1.5M | $7.2M | $14.6M |
| Pasivos Corrientes | $155.0M | $155.8M | $192.1M | $288.6M | $366.5M | $371.5M | $272.6M | $302.7M | $365.6M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $945.6M | $1.16B | $2.14B | $294.6M | $388.0M | $383.7M | $276.6M | $307.1M | $375.6M |
| Reservas | -$704.4M | -$929.9M | -$2.00B | -$2.24B | -$2.37B | -$2.28B | -$2.41B | -$2.49B | -$2.32B |
| Patrimonio Neto | -$703.1M | -$926.0M | -$2.00B | $169.2M | $254.9M | $392.7M | $299.5M | $235.3M | $401.3M |
| Deuda Total | 0 | 0 | 0 | $43.8M | $100.0M | $100.3M | $14.3M | $19.9M | $24.6M |
| Deuda Neta | -$206.5M | -$205.6M | -$82.7M | -$344.7M | -$433.3M | -$579.2M | -$480.7M | -$422.0M | -$635.7M |
| Capital Circulante | $76.0M | $62.2M | -$87.7M | $131.3M | $211.0M | $352.0M | $260.5M | $186.6M | $345.4M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $655.1M | $660.3M | $721.1M | $721.1M |
| Activos Totales | $749.6M | $749.6M | $824.2M | $824.2M |
| Pasivos Totales | $375.3M | $375.3M | $366.4M | $366.4M |
| Patrimonio Neto | $401.1M | $401.1M | $487.5M | $487.5M |
| Deuda Total | $24.6M | $24.6M | $22.7M | $22.7M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$153.7M | -$9.3M | -$133.0M | -$82.2M | -$127.2M | $86.5M | -$134.5M | -$81.0M | $220.3M |
| Amortizaciones | $5.9M | $9.8M | $12.5M | $27.8M | $31.2M | $33.8M | $31.1M | $28.8M | $22.3M |
| Compensación en Acciones | 0 | 0 | 0 | $50.7M | $37.4M | $29.2M | $26.8M | $14.2M | 0 |
| Cambio en Capital Circulante | $111.8M | $13.0M | $25.8M | $41.6M | $17.5M | -$14.3M | -$132.0M | $8.1M | $27.6M |
| Flujo de Caja Operativo | -$31.3M | $14.0M | -$95.8M | $40.0M | -$40.4M | $136.3M | -$117.0M | -$26.5M | $272.4M |
| Inversiones (CapEx) | -$12.7M | -$17.4M | -$29.4M | -$23.0M | -$20.9M | -$11.8M | -$7.2M | -$12.2M | -$3.4M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $308359 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$10.2M | -$28.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$29.5M |
| Flujo de Caja Libre | -$44.0M | -$3.5M | -$125.1M | $17.0M | -$61.4M | $124.4M | -$124.3M | -$38.6M | $269.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | 0 | 0 | 0 | 0 |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $869500 | $869500 | $443000 | $443000 |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +76.1% | +47.8% | +27.3% | +41.0% | +3.1% | -5.2% | -1.9% | +48.5% |
| Crecimiento Beneficio Neto (anual) | | +93.9% | -1323.2% | +38.2% | -54.8% | +168.0% | -246.4% | +45.1% | +416.6% |
| Crecimiento BPA (anual) | | +93.8% | -1135.3% | -28.6% | +51.9% | +161.5% | -250.0% | +41.7% | +428.6% |
| Cambio en Acciones (anual) | | +0.0% | +10.3% | -3.4% | +12.3% | +4.7% | +3.9% | -4.8% | -8.1% |
| Crecimiento FCF (anual) | | +92.2% | -3521.5% | +113.6% | -461.1% | +302.8% | -199.9% | +68.9% | +796.3% |
| Margen Bruto | 27.1% | 29.2% | 22.9% | 24.5% | 29.1% | 32.8% | 28.3% | 27.4% | 29.2% |
| Margen Operativo | -32.6% | -1.0% | -11.2% | -5.9% | -6.5% | 3.1% | -7.1% | -4.4% | 7.0% |
| Margen EBITDA | -31.3% | 0.2% | -10.2% | -3.2% | -4.4% | 5.6% | -4.9% | -2.4% | 7.7% |
| Margen Neto | -33.9% | -1.2% | -11.3% | -5.5% | -6.0% | 4.0% | -6.1% | -3.4% | 7.3% |
| Margen FCF | -9.7% | -0.4% | -10.6% | 1.1% | -2.9% | 5.7% | -6.0% | -1.9% | 8.9% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -1.2% | -0.3% | 0.2% | -0.3% | -4.2% | 1.2% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-10.62 | $-0.83 | $-27.36 | $3.85 | $-12.37 | $23.96 | $-23.03 | $-7.53 | $57.03 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.24 |
| Acciones en Circulación (Básicas) | $4.1M | $4.1M | $4.6M | $4.4M | $5.0M | $5.2M | $5.4M | $5.1M | $4.7M |
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 | 54.90% |
| Rentabilidad sobre capital invertido | 52.23% |
| Rentabilidad sobre activos | 29.37% |
| Margen bruto | 30.00% |
| Margen operativo | 7.54% |
| Margen neto | 7.78% |
Salud financiera
| Deuda / Patrimonio | 0.05 |
| Ratio corriente | 2.18 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 1.79 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -13.78 | -235.18 | -19.28 | -4.69 | -4.52 | 2.72 | -0.81 | -1.13 | 1.77 |
| P/VC | -4.46 | -3.58 | -1.85 | 6.61 | 2.29 | 0.57 | 0.35 | 0.35 | 0.95 |
| P/V | 6.92 | 4.15 | 3.14 | 0.74 | 0.27 | 0.10 | 0.05 | 0.04 | 0.13 |
| Margen Bruto | 27.1% | 29.2% | 22.9% | 24.5% | 29.1% | 32.8% | 28.3% | 27.4% | 29.2% |
| Margen Operativo | -32.6% | -1.0% | -11.2% | -5.9% | -6.5% | 3.1% | -7.1% | -4.4% | 7.0% |
| Margen Neto | -33.9% | -1.2% | -11.3% | -5.5% | -6.0% | 4.0% | -6.1% | -3.4% | 7.3% |