Estados financieros detallados de Tiptree Inc. (TIPT): 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
Tiptree Inc. registró ingresos de $488000 en el último ejercicio fiscal, con un CAGR de 5 años del -77.3%.
Márgenes de los últimos 12 meses: margen bruto 57.8%, margen operativo 14.0%, margen neto -40.7%. El flujo de caja libre creció a un CAGR del 4.7% en 5 años.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $506.4M | $579.8M | $625.8M | $765.1M | $810.3M | $1.20B | $1.40B | $1.65B | $2.04B | $488000 |
| Coste de Ventas | 0 | 0 | $152.1M | $170.7M | $236.9M | $327.0M | $452.6M | $601.8M | $841.2M | 0 |
| Beneficio Bruto | $506.4M | $579.8M | $473.7M | $594.4M | $573.4M | $873.5M | $945.1M | $1.05B | $1.20B | $488000 |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $162.2M | $157.4M | $156.1M | $181.5M | $229.8M | $288.3M | $253.1M | $261.3M | $293.8M | $33.8M |
| Gastos Operativos | $483.4M | $593.6M | $493.5M | $565.3M | $612.3M | $808.2M | $891.1M | $964.2M | $1.05B | $47.2M |
| Beneficio Operativo | $23.1M | -$13.8M | -$19.8M | $29.1M | -$38.9M | $65.3M | $54.0M | $83.1M | $149.3M | -$46.7M |
| EBITDA | $98.7M | $52.2M | $19.8M | $69.8M | $11.3M | $127.5M | $107.2M | $134.2M | $203.2M | -$47.4M |
| Gastos por Intereses | $21.0M | $25.6M | $27.0M | $27.1M | $32.6M | $37.7M | $30.2M | $27.7M | $32.2M | 0 |
| Beneficio Antes de Impuestos | $49.1M | -$3.3M | -$19.8M | $29.1M | -$38.9M | $65.3M | $54.0M | $83.1M | $149.3M | -$44.6M |
| Impuestos | $12.5M | -$12.6M | -$5.9M | $9.0M | -$13.6M | $21.3M | $50.5M | $43.1M | $61.7M | -$5.7M |
| Beneficio Neto | $25.3M | $3.6M | $23.9M | $18.4M | -$29.2M | $38.1M | -$8.3M | $14.0M | $53.4M | $34.9M |
| BPA | $0.79 | $0.12 | $0.69 | $0.53 | $-0.74 | $1.15 | $-0.23 | $0.34 | $1.44 | $0.93 |
| BPA Diluido | $0.78 | $0.11 | $0.69 | $0.50 | $-0.74 | $1.13 | $-0.23 | $0.33 | $1.30 | $0.93 |
| Acciones en Circulación (Diluidas) | $31.8M | $37.3M | $34.7M | $34.6M | $33.9M | $33.7M | $35.5M | $37.6M | $37.9M | $46.0M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $63.0M | $110.7M | $86.0M | $133.1M | $136.9M | $175.7M | $538.1M | $468.7M | $19.4M | $30.8M |
| Inversiones a Corto | $146.2M | $182.4M | $283.6M | $335.2M | $377.1M | $577.4M | $612.0M | $802.6M | $10.9M | $17.1M |
| Cuentas por Cobrar | 0 | $186.4M | $223.1M | $827.6M | $1.12B | $1.39B | $1.01B | $1.68B | $1.89B | 0 |
| Inventario | 0 | 0 | $13.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $133.1M | $142.2M | $1.02B | 0 | 0 | $2.18B | $2.92B | $3.89B | $3.08B | $47.9M |
| Inmovilizado Material | $5.9M | $4.3M | $6.1M | $36.1M | $43.1M | $38.7M | $53.3M | $61.1M | $17.9M | $14.6M |
| Fondo de Comercio | $92.8M | $91.6M | $91.6M | $99.1M | $179.2M | $179.1M | $186.6M | $206.2M | $206.7M | 0 |
| Activos Intangibles | $85.5M | $64.0M | $52.1M | $56.7M | $153.0M | $532.0M | $657.4M | $725.3M | $711.3M | 0 |
| Activos Totales | $2.89B | $1.99B | $1.86B | $2.20B | $3.00B | $3.60B | $4.04B | $5.14B | $5.69B | $6.84B |
| Cuentas por Pagar | $139.8M | $151.3M | $129.2M | $213.8M | $375.8M | $415.4M | $424.5M | $675.2M | $529.1M | 0 |
| Deuda a Corto | $414.6M | 0 | 0 | $114.8M | $147.8M | $158.5M | $60.6M | $197.1M | 0 | $8.1M |
| Pasivos Corrientes | $1.19B | $631.4M | $241.8M | 0 | 0 | $2.66B | $3.25B | $4.30B | $3.74B | $107.6M |
| Deuda a Largo | $378.5M | $346.1M | $354.1M | $224.7M | $183.4M | $234.8M | $198.7M | $205.3M | $363.4M | $63.9M |
| Pasivos Totales | $2.50B | $1.59B | $1.47B | $1.79B | $2.62B | $3.20B | $3.51B | $4.56B | $5.04B | $6.09B |
| Reservas | $38.0M | $38.1M | $57.2M | $70.2M | $35.4M | $68.1M | $54.1M | $60.7M | $95.7M | $121.6M |
| Patrimonio Neto | $293.4M | $300.1M | $387.1M | $398.1M | $356.1M | $383.0M | $397.4M | $416.9M | $457.7M | $508.6M |
| Deuda Total | $793.0M | $346.1M | $354.1M | $368.9M | $364.2M | $422.7M | $297.4M | $442.8M | $374.5M | $80.7M |
| Deuda Neta | $583.8M | $53.0M | -$15.5M | -$99.4M | -$149.9M | -$330.4M | -$852.6M | -$828.5M | $344.2M | $32.9M |
| Capital Circulante | -$1.06B | -$489.2M | $781.8M | 0 | 0 | -$486.9M | -$338.4M | -$411.7M | -$662.2M | -$59.8M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | $32.3M | $5.2M | $29.9M | $20.1M | -$25.2M | $44.1M | $3.6M | $40.0M | $87.7M | $34.9M |
| Amortizaciones | $28.5M | $30.0M | $12.6M | $13.6M | $17.6M | $24.4M | $23.0M | $23.5M | $21.7M | $1.4M |
| Compensación en Acciones | $2.6M | $6.6M | $6.7M | $6.4M | $8.1M | $11.1M | $9.7M | $8.3M | $17.7M | $11.3M |
| Cambio en Capital Circulante | -$1.78B | -$1.60B | -$1.50B | -$1.99B | -$2.98B | -$3.68B | -$1.96B | -$12.5M | -$852.9M | $2.7M |
| Flujo de Caja Operativo | $36.6M | $46.9M | $57.7M | $23.7M | $140.2M | $204.3M | $463.1M | $71.5M | $240.8M | $168.2M |
| Inversiones (CapEx) | -$7.2M | -$2.9M | -$3.7M | -$8.5M | -$6.7M | -$2.8M | -$10.7M | -$14.0M | -$4.0M | 0 |
| Adquisiciones | -$102.3M | -$71.7M | $15.7M | $13.7M | -$4.8M | $258000 | -$15.0M | -$19.7M | 0 | 0 |
| Recompra de Acciones | -$43.8M | -$7.3M | -$14.1M | -$9.1M | -$13.9M | -$8.1M | -$1.7M | 0 | 0 | 0 |
| Dividendos Pagados | -$3.2M | -$3.5M | -$4.8M | -$5.5M | -$5.6M | -$5.4M | -$7.8M | -$13.7M | -$24.8M | -$9.1M |
| Flujo de Caja Libre | $29.5M | $44.0M | $54.0M | $15.2M | $133.5M | $201.6M | $452.3M | $57.4M | $236.7M | $168.2M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +14.5% | +7.9% | +22.3% | +5.9% | +48.2% | +16.4% | +18.0% | +23.9% | -100.0% | |
| Crecimiento Beneficio Neto (anual) | -85.8% | +564.1% | -23.3% | -258.8% | +230.8% | -121.7% | +268.6% | +282.5% | -34.6% | |
| Crecimiento BPA (anual) | -84.8% | +475.0% | -23.2% | -239.6% | +255.4% | -120.0% | +247.8% | +323.5% | -35.4% | |
| Cambio en Acciones (anual) | +17.4% | -6.9% | -0.4% | -2.1% | -0.5% | +5.5% | +5.9% | +0.8% | +21.2% | |
| Crecimiento FCF (anual) | +49.3% | +22.6% | -71.8% | +776.8% | +51.0% | +124.4% | -87.3% | +312.3% | -28.9% | |
| Margen Bruto | 100.0% | 100.0% | 75.7% | 77.7% | 70.8% | 72.8% | 67.6% | 63.5% | 58.8% | 100.0% |
| Margen Operativo | 4.6% | -2.4% | -3.2% | 3.8% | -4.8% | 5.4% | 3.9% | 5.0% | 7.3% | -9574.6% |
| Margen EBITDA | 19.5% | 9.0% | 3.2% | 9.1% | 1.4% | 10.6% | 7.7% | 8.1% | 9.9% | -9712.7% |
| Margen Neto | 5.0% | 0.6% | 3.8% | 2.4% | -3.6% | 3.2% | -0.6% | 0.8% | 2.6% | 7157.2% |
| Margen FCF | 5.8% | 7.6% | 8.6% | 2.0% | 16.5% | 16.8% | 32.4% | 3.5% | 11.6% | 34470.9% |
| Tasa Impositiva Efectiva | 25.5% | 377.2% | 29.8% | 30.9% | 35.1% | 32.6% | 93.4% | 51.8% | 41.3% | 12.8% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $0.93 | $1.18 | $1.55 | $0.44 | $3.94 | $5.98 | $12.73 | $1.53 | $6.24 | $3.66 |
| Dividendo por Acción | $0.10 | $0.09 | $0.14 | $0.16 | $0.16 | $0.16 | $0.22 | $0.37 | $0.65 | $0.20 |
| Acciones en Circulación (Básicas) | $31.7M | $29.1M | $34.7M | $34.6M | $33.9M | $33.2M | $35.5M | $36.7M | $36.9M | $37.6M |
Qué mirar en Seguros
Las aseguradoras ganan de 2 formas: suscribiendo bien (combined ratio) e invirtiendo el float. Buffett construyó Berkshire así.
- Op Margin 5y (proxy Combined Ratio) — Proxy del combined ratio cuando FMP no lo expone. ≥10% medio 5y = disciplina de suscripción (CR <100%)
- Crecimiento Book Value / Acción — Cómo Buffett mide Berkshire. El valor real que acumulan los accionistas
- Debt / Equity — Aseguradoras apalancadas quiebran rápido en catástrofes
- P/B (Price / Book) — Aseguradoras se valoran por múltiplo de libros. Aquí se cruza con el ROE (calidad × valoración)
- Dividend growth streak — Años consecutivos subiendo dividendo por acción — aseguradoras sólidas acumulan décadas
Rentabilidad
| Margen bruto | 57.76% |
| Margen operativo | 13.99% |
| Margen neto | -40.74% |
Salud financiera
| Deuda / Patrimonio | 0.01 |
| Ratio corriente | 5.07 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 7.78 | 49.58 | 8.10 | 15.36 | -6.78 | 12.03 | -60.17 | 55.76 | 14.49 | 19.65 |
| P/VC | 0.66 | 0.58 | 0.50 | 0.71 | 0.48 | 1.20 | 1.24 | 1.67 | 1.68 | 1.35 |
| P/V | 0.39 | 0.30 | 0.31 | 0.37 | 0.21 | 0.38 | 0.35 | 0.42 | 0.38 | 1406.18 |
| Margen Bruto | 100.0% | 100.0% | 75.7% | 77.7% | 70.8% | 72.8% | 67.6% | 63.5% | 58.8% | 100.0% |
| Margen Operativo | 4.6% | -2.4% | -3.2% | 3.8% | -4.8% | 5.4% | 3.9% | 5.0% | 7.3% | -9574.6% |
| Margen Neto | 5.0% | 0.6% | 3.8% | 2.4% | -3.6% | 3.2% | -0.6% | 0.8% | 2.6% | 7157.2% |
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