Estados financieros detallados de 1st Source Corporation (SRCE): 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
1st Source Corporation registró ingresos de $600.0M en el último ejercicio fiscal, con un CAGR de 5 años del 10.3%. El beneficio neto alcanzó $158.3M, con un CAGR a 5 años del 14.2%.
Márgenes de los últimos 12 meses: margen bruto 72.8%, margen operativo 36.4%, margen neto 28.1%. El flujo de caja libre creció a un CAGR del 7.0% en 5 años.
Al precio actual de $85.94, SRCE cotiza a un P/E de 12.38 y un ROE del 12.41%. La capitalización bursátil es de $2.1B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $280.7M | $311.1M | $354.4M | $384.0M | $366.9M | $354.9M | $385.1M | $507.5M | $570.3M | $600.0M |
| Coste de Ventas | $27.9M | $35.7M | $62.9M | $74.8M | $73.2M | $13.8M | $43.6M | $144.1M | $195.7M | $178.1M |
| Beneficio Bruto | $252.8M | $275.4M | $291.5M | $309.2M | $293.7M | $341.0M | $341.5M | $363.4M | $374.7M | $421.9M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $100.2M | $102.3M | $109.2M | $111.7M | $104.2M | $108.5M | $108.7M | $121.5M | $128.1M | $111.0M |
| Gastos Operativos | $163.6M | $174.0M | $186.5M | $189.0M | $187.4M | $185.3M | $184.7M | $201.7M | $203.6M | $216.8M |
| Beneficio Operativo | $89.1M | $101.4M | $105.0M | $120.2M | $106.3M | $154.9M | $156.8M | $161.7M | $171.1M | $205.1M |
| EBITDA | $117.5M | $133.3M | $137.9M | $155.4M | $137.4M | $178.9M | $175.9M | $177.1M | $183.4M | $214.0M |
| Gastos por Intereses | $22.1M | $26.8M | $43.4M | $59.0M | $37.2M | $18.1M | $30.3M | $138.3M | $183.2M | $166.2M |
| Beneficio Antes de Impuestos | $89.1M | $101.4M | $105.0M | $120.2M | $106.3M | $154.9M | $156.8M | $161.7M | $171.1M | $204.4M |
| Impuestos | $31.3M | $33.3M | $22.6M | $28.1M | $24.9M | $36.3M | $36.3M | $36.7M | $38.4M | $46.1M |
| Beneficio Neto | $57.8M | $68.1M | $82.4M | $92.0M | $81.4M | $118.5M | $120.5M | $124.9M | $132.6M | $158.3M |
| BPA | $2.22 | $2.60 | $3.16 | $3.57 | $3.17 | $4.70 | $4.84 | $5.03 | $5.36 | $6.46 |
| BPA Diluido | $2.22 | $2.60 | $3.16 | $3.57 | $3.17 | $4.70 | $4.84 | $5.03 | $5.36 | $6.46 |
| Acciones en Circulación (Diluidas) | $25.9M | $25.9M | $25.9M | $25.6M | $25.5M | $25.0M | $24.7M | $24.6M | $24.5M | $24.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $152.8M | $150.5M | $149.1M | $156.1M |
| Beneficio Bruto | $109.8M | $110.8M | $105.9M | $116.6M |
| Beneficio Operativo | $55.0M | $54.3M | $51.4M | $60.8M |
| EBITDA | $57.8M | $54.8M | $54.2M | $61.3M |
| Beneficio Neto | $42.3M | $41.1M | $40.0M | $47.5M |
| BPA | $1.71 | $1.69 | $1.65 | $1.93 |
| BPA Diluido | $1.71 | $1.69 | $1.65 | $1.93 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $58.6M | $73.6M | $94.9M | $67.2M | $74.2M | $54.4M | $84.7M | $77.5M | $76.8M | $69.2M |
| Inversiones a Corto | $850.5M | $904.0M | $990.1M | $1.04B | $1.20B | $1.86B | $1.78B | $1.62B | $944.7M | $1.52B |
| Cuentas por Cobrar | $130.1M | $155.4M | $159.3M | $228.0M | $288.6M | $269.5M | $380.0M | 0 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $1.04B | $1.13B | $1.24B | $1.34B | $1.56B | $2.19B | $2.24B | $1.70B | $1.02B | $1.59B |
| Inmovilizado Material | $175.5M | $194.2M | $186.6M | $163.9M | $114.4M | $95.5M | $76.5M | $66.5M | $64.9M | $65.3M |
| Fondo de Comercio | 0 | $83.7M | $83.9M | $83.9M | $83.9M | $83.9M | $83.9M | $83.9M | $83.9M | $83.9M |
| Activos Intangibles | $84.1M | $62000 | $133000 | $104000 | $82000 | $60000 | $40000 | $21000 | $2000 | 0 |
| Activos Totales | $5.49B | $5.89B | $6.29B | $6.62B | $7.32B | $8.10B | $8.34B | $8.73B | $8.93B | $9.06B |
| Cuentas por Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda a Corto | $291.9M | $214.6M | $199.3M | $145.9M | $150.6M | $200.0M | $215.5M | $312.4M | $249.2M | $238.6M |
| Pasivos Corrientes | $4.68B | $5.04B | $5.40B | $5.64B | $6.25B | $7.00B | $7.31B | $7.35B | $7.48B | $126.2M |
| Deuda a Largo | $133.1M | $109.9M | $113.3M | $112.4M | $120.3M | $109.4M | $87.4M | $85.0M | $75.8M | $102.1M |
| Pasivos Totales | $4.81B | $5.17B | $5.53B | $5.77B | $6.39B | $7.13B | $7.42B | $7.66B | $7.75B | $7.74B |
| Reservas | $290.8M | $340.0M | $399.0M | $463.3M | $514.2M | $603.8M | $694.9M | $789.8M | $890.9M | $1.02B |
| Patrimonio Neto | $672.6M | $718.5M | $762.1M | $828.3M | $886.8M | $916.3M | $864.1M | $989.6M | $1.11B | $1.27B |
| Deuda Total | $425.0M | $324.5M | $312.7M | $258.3M | $270.9M | $309.4M | $302.9M | $397.4M | $325.0M | $340.7M |
| Deuda Neta | -$484.0M | -$653.2M | -$772.3M | -$849.5M | -$1.00B | -$1.61B | -$1.56B | -$1.30B | -$696.5M | -$1.25B |
| Capital Circulante | -$3.64B | -$3.91B | -$4.16B | -$4.31B | -$4.68B | -$4.81B | -$5.07B | -$5.65B | -$6.46B | $1.47B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $75.3M | $69.2M | $67.7M | $362.9M |
| Activos Totales | $9.06B | $9.06B | $9.11B | $9.26B |
| Pasivos Totales | $7.77B | $7.74B | $7.79B | $7.91B |
| Patrimonio Neto | $1.24B | $1.27B | $1.28B | $1.31B |
| Deuda Total | $174.6M | $340.7M | $383.5M | $294.3M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $57.8M | $68.1M | $82.4M | $92.0M | $81.5M | $118.6M | $120.5M | $124.9M | $132.6M | $158.3M |
| Amortizaciones | $28.4M | $32.0M | $32.8M | $35.3M | $31.1M | $24.0M | $19.1M | $15.5M | $12.4M | $11.3M |
| Compensación en Acciones | $2.9M | $3.0M | $3.6M | $2.8M | $3.3M | $4.2M | $3.6M | $4.9M | $5.7M | $6.2M |
| Cambio en Capital Circulante | $2.0M | $19.0M | $16.1M | $29.4M | $12.0M | $3.1M | $19.5M | $40.0M | $23.9M | $38.4M |
| Flujo de Caja Operativo | $98.1M | $139.7M | $159.7M | $164.6M | $154.5M | $166.8M | $175.5M | $187.9M | $194.1M | $223.1M |
| Inversiones (CapEx) | -$39.0M | -$51.4M | -$24.2M | -$10.5M | -$2.9M | -$2.9M | -$2.4M | -$6.0M | -$12.4M | -$10.1M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$8.0M | -$41000 | -$9.3M | -$15.1M | -$6.4M | -$33.1M | -$6.8M | -$12.5M | -$178000 | -$13.9M |
| Dividendos Pagados | -$19.4M | -$20.4M | -$25.7M | -$29.0M | -$29.8M | -$31.3M | -$32.1M | -$33.1M | -$35.4M | -$38.4M |
| Flujo de Caja Libre | $59.0M | $88.3M | $135.5M | $154.1M | $151.6M | $163.9M | $173.2M | $182.0M | $181.5M | $213.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $51.0M | $55.4M | $59.1M | $50.8M |
| Inversiones (CapEx) | $4.3M | -$2.0M | -$1.1M | $1.1M |
| Flujo de Caja Libre | $55.4M | $53.5M | $58.0M | $51.9M |
| Dividendos Pagados | -$9.6M | -$10.1M | -$10.1M | -$10.7M |
| Compensación en Acciones | $1.4M | $2.0M | $1.6M | $1.7M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +10.8% | +13.9% | +8.4% | -4.4% | -3.3% | +8.5% | +31.8% | +12.4% | +5.2% |
| Crecimiento Beneficio Neto (anual) | | +17.8% | +21.1% | +11.6% | -11.4% | +45.6% | +1.7% | +3.7% | +6.2% | +19.3% |
| Crecimiento BPA (anual) | | +17.1% | +21.5% | +13.0% | -11.2% | +48.3% | +3.0% | +3.9% | +6.6% | +20.5% |
| Cambio en Acciones (anual) | | +0.2% | +0.0% | -1.3% | -0.3% | -1.9% | -1.4% | -0.3% | -0.5% | -0.4% |
| Crecimiento FCF (anual) | | +49.5% | +53.6% | +13.7% | -1.6% | +8.1% | +5.7% | +5.1% | -0.3% | +17.4% |
| Margen Bruto | 90.0% | 88.5% | 82.3% | 80.5% | 80.0% | 96.1% | 88.7% | 71.6% | 65.7% | 70.3% |
| Margen Operativo | 31.8% | 32.6% | 29.6% | 31.3% | 29.0% | 43.6% | 40.7% | 31.9% | 30.0% | 34.2% |
| Margen EBITDA | 41.9% | 42.9% | 38.9% | 40.5% | 37.5% | 50.4% | 45.7% | 34.9% | 32.2% | 35.7% |
| Margen Neto | 20.6% | 21.9% | 23.3% | 23.9% | 22.2% | 33.4% | 31.3% | 24.6% | 23.3% | 26.4% |
| Margen FCF | 21.0% | 28.4% | 38.2% | 40.1% | 41.3% | 46.2% | 45.0% | 35.9% | 31.8% | 35.5% |
| Tasa Impositiva Efectiva | 35.2% | 32.9% | 21.5% | 23.4% | 23.4% | 23.5% | 23.1% | 22.7% | 22.5% | 22.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $2.28 | $3.40 | $5.23 | $6.02 | $5.94 | $6.55 | $7.01 | $7.39 | $7.41 | $8.73 |
| Dividendo por Acción | $0.75 | $0.79 | $0.99 | $1.13 | $1.17 | $1.25 | $1.30 | $1.34 | $1.44 | $1.58 |
| Acciones en Circulación (Básicas) | $25.9M | $25.9M | $25.9M | $25.6M | $25.5M | $25.0M | $24.7M | $24.6M | $24.5M | $24.4M |
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 | 12.41% |
| Rentabilidad sobre capital invertido | 8.60% |
| Rentabilidad sobre activos | 1.75% |
| Margen bruto | 72.81% |
| Margen operativo | 36.39% |
| Margen neto | 28.09% |
Salud financiera
| Deuda / Patrimonio | 0.22 |
| Ratio corriente | 0.51 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 0.61 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 20.12 | 19.02 | 12.77 | 14.53 | 12.71 | 10.55 | 10.97 | 10.92 | 10.89 | 9.67 |
| P/VC | 1.72 | 1.78 | 1.37 | 1.60 | 1.16 | 1.36 | 1.52 | 1.37 | 1.29 | 1.20 |
| P/V | 4.12 | 4.12 | 2.95 | 3.46 | 2.80 | 3.50 | 3.40 | 2.67 | 2.51 | 2.54 |
| Margen Bruto | 90.0% | 88.5% | 82.3% | 80.5% | 80.0% | 96.1% | 88.7% | 71.6% | 65.7% | 70.3% |
| Margen Operativo | 31.8% | 32.6% | 29.6% | 31.3% | 29.0% | 43.6% | 40.7% | 31.9% | 30.0% | 34.2% |
| Margen Neto | 20.6% | 21.9% | 23.3% | 23.9% | 22.2% | 33.4% | 31.3% | 24.6% | 23.3% | 26.4% |