Estados financieros detallados de International Tower Hill Mines Ltd. (THM): 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
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $2.35, THM presenta beneficios negativos (P/E no significativo) y un ROE del -2.80%. La capitalización bursátil es de $615M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | $5283 | $4006 | $3043 | $2316 | 0 | $367 | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$5283 | -$4006 | -$3043 | -$2316 | 0 | -$367 | 0 | 0 | 0 | 0 |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $6.0M | $6.3M | $3.3M | $1.9M | $4.2M | $2.1M | $2.0M | $2.0M | $2.3M | $2.6M |
| Gastos Operativos | $6.1M | $6.1M | $4.7M | $3.6M | $4.2M | $5.9M | $3.4M | $3.5M | $3.8M | $4.5M |
| Beneficio Operativo | -$5.9M | -$5.9M | -$4.7M | -$3.5M | -$4.2M | -$5.9M | -$3.4M | -$3.5M | -$3.8M | -$4.5M |
| EBITDA | -$7.2M | -$6.4M | -$4.7M | -$3.5M | -$4.2M | -$5.9M | -$3.4M | -$3.5M | -$3.8M | -$4.5M |
| Gastos por Intereses | $17490 | $27395 | $119106 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$7.2M | -$6.4M | -$4.2M | -$3.9M | -$4.5M | -$6.0M | -$3.0M | -$3.4M | -$3.6M | -$4.6M |
| Impuestos | $2.2M | $651386 | -$1.3M | $241921 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$7.2M | -$6.4M | -$4.2M | -$4.1M | -$4.5M | -$6.0M | -$3.0M | -$3.4M | -$3.6M | -$4.6M |
| BPA | $-0.06 | $-0.04 | $-0.02 | $-0.02 | $-0.02 | $-0.03 | $-0.01 | $-0.02 | $-0.02 | $-0.02 |
| BPA Diluido | $-0.06 | $-0.04 | $-0.02 | $-0.02 | $-0.02 | $-0.03 | $-0.01 | $-0.02 | $-0.02 | $-0.02 |
| Acciones en Circulación (Diluidas) | $116.7M | $162.3M | $182.0M | $187.4M | $189.9M | $194.9M | $195.2M | $195.6M | $199.7M | $207.9M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | 0 | 0 | 0 | 0 |
| Beneficio Operativo | -$792886 | -$1.3M | -$1.0M | -$6.9M |
| EBITDA | -$792886 | -$1.3M | -$1.0M | 0 |
| Beneficio Neto | -$732303 | -$1.3M | $2.3M | -$3.4M |
| BPA | $-0.00 | $-0.01 | $0.01 | $-0.01 |
| BPA Diluido | $-0.00 | $-0.01 | $0.01 | $-0.01 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $22.5M | $2.2M | $10.2M | $6.9M | $13.0M | $7.8M | $4.8M | $1.7M | $992487 | $1.4M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $22.7M | $2.4M | $10.4M | $7.2M | $13.2M | $7.9M | $5.0M | $2.0M | $1.1M | $1.5M |
| Inmovilizado Material | $55.2M | $55.2M | $55.3M | $55.4M | $55.4M | $55.4M | $55.4M | $55.4M | $55.4M | $7465 |
| 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 | $77.9M | $57.6M | $65.7M | $62.6M | $68.6M | $63.3M | $60.4M | $57.4M | $56.5M | $56.9M |
| Cuentas por Pagar | $179496 | $82269 | $43475 | $18433 | $199026 | $259648 | $53539 | $92855 | $38374 | $145918 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $15.1M | $428838 | $547953 | $335757 | $492991 | $579881 | $288385 | $234951 | $177477 | $145918 |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $15.1M | $428838 | $547953 | $335757 | $492991 | $579881 | $288385 | $234951 | $177477 | $497952 |
| Reservas | -$238.2M | -$244.6M | -$248.8M | -$252.6M | -$257.1M | -$263.1M | -$266.2M | -$269.6M | -$273.2M | -$277.3M |
| Patrimonio Neto | $62.8M | $57.2M | $65.2M | $62.2M | $68.1M | $62.7M | $60.1M | $57.1M | $56.3M | $56.4M |
| Deuda Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda Neta | -$22.5M | -$2.2M | -$10.2M | -$6.9M | -$13.0M | -$7.8M | -$4.8M | -$1.7M | -$992487 | -$1.4M |
| Capital Circulante | $7.6M | $2.0M | $9.9M | $6.8M | $12.7M | $7.3M | $4.7M | $1.8M | $959703 | $1.4M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $2.3M | $1.4M | $64.7M | $60.4M |
| Activos Totales | $57.9M | $56.9M | $170.8M | $167.9M |
| Pasivos Totales | $300438 | $497952 | $484964 | $2.4M |
| Patrimonio Neto | $57.6M | $56.4M | $170.3M | $165.5M |
| Deuda Total | 0 | 0 | 0 | 0 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$7.2M | -$6.4M | -$4.2M | -$3.8M | -$4.5M | -$6.0M | -$3.0M | -$3.4M | -$3.6M | -$4.7M |
| Amortizaciones | $5283 | $4006 | $3043 | $2316 | $7602 | $367 | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $108526 | $443556 | $603818 | $405857 | $385531 | $535117 | $448474 | $415186 | $613690 | $360340 |
| Cambio en Capital Circulante | -$82295 | $59634 | $73494 | -$241399 | $236650 | $107289 | -$303739 | -$208924 | $92140 | $314238 |
| Flujo de Caja Operativo | -$6.4M | -$5.8M | -$3.5M | -$3.7M | -$3.9M | -$5.3M | -$2.9M | -$3.2M | -$2.9M | -$3.7M |
| Inversiones (CapEx) | 0 | 0 | -$69391 | -$101692 | 0 | 0 | $4 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$6.4M | -$5.8M | -$3.6M | -$3.8M | -$3.9M | -$5.3M | -$2.9M | -$3.2M | -$2.9M | -$3.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$522624 | -$935020 | $1.8M | -$2.0M |
| Inversiones (CapEx) | 0 | 0 | -$3 | $4 |
| Flujo de Caja Libre | -$522624 | -$935020 | $1.8M | -$2.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $48826 | $138967 | $133318 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Beneficio Neto (anual) | | +10.5% | +34.8% | +3.0% | -11.1% | -32.3% | +49.1% | -11.7% | -5.9% | -28.9% |
| Crecimiento BPA (anual) | | +35.7% | +41.9% | +5.7% | -9.7% | -29.0% | +51.1% | -16.0% | -14.9% | -13.5% |
| Cambio en Acciones (anual) | | +39.1% | +12.1% | +3.0% | +1.3% | +2.7% | +0.2% | +0.2% | +2.1% | +4.1% |
| Crecimiento FCF (anual) | | +8.5% | +38.9% | -5.6% | -3.4% | -37.2% | +45.7% | -10.0% | +9.2% | -27.7% |
| Tasa Impositiva Efectiva | -30.5% | -10.1% | 31.4% | -6.2% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.05 | $-0.04 | $-0.02 | $-0.02 | $-0.02 | $-0.03 | $-0.01 | $-0.02 | $-0.01 | $-0.02 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $116.7M | $162.3M | $182.0M | $187.4M | $189.9M | $194.9M | $195.2M | $195.6M | $199.7M | $207.9M |
Qué mirar en Basic Materials
Mineras, químicas, acero. 100% commodity-driven. Analizar con P/E puro es un error — mira posición de costes y sostenibilidad del dividendo.
- FCF yield — En commodities el FCF es oro — EPS engaña mucho
- Margen bruto — Margen bruto consistente 5y = señal de moat
- Deuda neta / EBITDA (valle) — Usar EBITDA del peor año del ciclo, no el actual
- Dividend coverage — Dividendo cubierto por FCF en año medio, no en pico
- Capex / D&A — >1x = mantienen/crecen reservas. <0.7x = están descapitalizando
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
- P/B en ciclos — Commodities: 0.8-1.2x en valles, 2x+ en picos. <2x aún zona razonable
Rentabilidad
| Rentabilidad sobre capital | -2.80% |
| Rentabilidad sobre capital invertido | -6.05% |
| Rentabilidad sobre activos | -1.88% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 66.59 |
| Piotroski F-Score | 2 |
| Altman Z-Score | 458.85 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -8.85 | -10.86 | -22.59 | -24.88 | -57.98 | -23.93 | -28.35 | -33.62 | -22.77 | -81.94 |
| P/VC | 1.01 | 1.22 | 1.45 | 1.63 | 3.85 | 2.28 | 1.38 | 2.00 | 1.61 | 6.86 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |