Estados financieros detallados de Tennessee Valley Authority PARRS A 2029 (TVE): 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
Tennessee Valley Authority PARRS A 2029 registró ingresos de $13.67B en el último ejercicio fiscal, con un CAGR de 5 años del 5.9%. El beneficio neto alcanzó $1.36B, con un CAGR a 5 años del 0.1%.
Márgenes de los últimos 12 meses: margen bruto 40.1%, margen operativo 20.1%, margen neto 1.6%.
Al precio actual de $23.40, TVE presenta beneficios negativos (P/E no significativo) y un ROE del 7.35%. La capitalización bursátil es de $12M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $10.62B | $10.74B | $11.23B | $11.32B | $10.25B | $10.50B | $12.54B | $12.05B | $12.31B | $13.67B |
| Coste de Ventas | $5.93B | $5.76B | $5.62B | $5.82B | $5.17B | $5.61B | $7.45B | $7.54B | $7.38B | $8.18B |
| Beneficio Bruto | $4.68B | $4.97B | $5.61B | $5.50B | $5.08B | $4.90B | $5.09B | $4.51B | $4.94B | $5.49B |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | 0 | $258.0M | $256.0M | $258.0M | $253.0M | $258.0M | $258.0M | $199.0M | $98.0M | 0 |
| Gastos Operativos | $2.36B | $3.36B | $3.27B | $2.90B | $2.37B | $2.05B | $2.68B | $2.82B | $2.71B | $2.92B |
| Beneficio Operativo | $2.46B | $2.58B | $3.22B | $3.29B | $2.71B | $2.85B | $2.41B | $1.69B | $2.23B | $2.57B |
| EBITDA | $4.41B | $4.51B | $5.19B | $5.04B | $4.83B | $4.67B | $4.74B | $4.06B | $2.23B | $4.99B |
| Gastos por Intereses | $1.14B | $1.35B | $1.24B | $1.20B | 0 | $1.09B | $1.05B | $1.06B | $1.07B | $1.20B |
| Beneficio Antes de Impuestos | $1.23B | $685.0M | $1.12B | $1.42B | $1.35B | $1.51B | $1.11B | $500.0M | $1.14B | $1.36B |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | $1.23B | $685.0M | $1.12B | $1.42B | $1.35B | $1.51B | $1.11B | $500.0M | $1.14B | $1.36B |
| BPA | $2348.57 | $1304.76 | $2131.43 | $2699.05 | $2575.24 | $2880.00 | $2110.48 | $952.38 | $2161.90 | $2590.48 |
| BPA Diluido | $2348.57 | $1304.76 | $2131.43 | $2699.05 | $2575.24 | $2880.00 | $2110.48 | $952.38 | $2161.90 | $2590.48 |
| Acciones en Circulación (Diluidas) | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $300.0M | $300.0M | $299.0M | $299.0M | $500.0M | $499.0M | $500.0M | $501.0M | $502.0M | $1.58B |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.64B | $1.44B | $1.57B | $1.62B | $1.40B | $1.48B | $1.90B | $1.63B | $1.68B | $1.89B |
| Inventario | $993.0M | $1.06B | $961.0M | $999.0M | $1.00B | $950.0M | $1.09B | $1.14B | $1.20B | $1.26B |
| Activos Corrientes | $3.64B | $3.45B | $3.42B | $3.28B | $3.25B | $3.50B | $3.97B | $3.67B | $3.77B | $5.18B |
| Inmovilizado Material | $32.59B | $33.55B | $33.92B | $33.60B | $34.31B | $35.06B | $35.52B | $36.31B | $37.95B | $40.39B |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | $3.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $50.49B | $50.02B | $48.67B | $50.47B | $52.83B | $52.46B | $51.19B | $51.34B | $57.70B | $60.88B |
| Cuentas por Pagar | $1.74B | $1.46B | $1.54B | $1.37B | $1.48B | $1.93B | $2.18B | $2.18B | $2.31B | $2.49B |
| Deuda a Corto | $3.06B | $3.95B | $2.45B | $2.10B | $2.06B | $1.87B | $1.25B | $1.50B | $37.0M | $1.46B |
| Pasivos Corrientes | $5.86B | $6.40B | $4.85B | $4.31B | $4.71B | $4.98B | $4.64B | $4.87B | $5.87B | $5.61B |
| Deuda a Largo | $24.80B | $23.45B | $23.05B | $22.43B | $21.73B | $20.86B | $20.42B | $20.13B | $897.0M | $22.79B |
| Pasivos Totales | $42.07B | $40.88B | $38.38B | $38.84B | $39.89B | $37.99B | $35.68B | $35.29B | $40.54B | $42.37B |
| Reservas | $7.59B | $8.28B | $9.40B | $10.82B | $12.18B | $13.69B | $14.80B | $15.30B | $16.44B | $17.80B |
| Patrimonio Neto | $8.42B | $9.13B | $10.28B | $11.62B | $12.93B | $14.46B | $15.51B | $16.06B | $17.16B | $18.51B |
| Deuda Total | $27.86B | $27.40B | $25.50B | $24.53B | $23.79B | $22.73B | $21.80B | $21.63B | $934.0M | $25.08B |
| Deuda Neta | $27.56B | $27.10B | $25.20B | $24.23B | $23.29B | $22.23B | $21.30B | $21.13B | $432.0M | $23.50B |
| Capital Circulante | -$2.22B | -$2.96B | -$1.44B | -$1.03B | -$1.47B | -$1.48B | -$671.0M | -$1.21B | -$2.10B | -$430.0M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | $1.23B | $685.0M | $1.12B | $1.42B | $1.35B | $1.51B | $1.11B | $500.0M | $1.14B | $1.36B |
| Amortizaciones | $1.94B | $1.93B | $1.97B | $1.75B | $2.24B | $1.94B | $2.42B | $2.61B | $2.52B | $2.60B |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | -$36.0M | $214.0M | -$39.0M | -$135.0M | $248.0M | $6.0M | -$582.0M | $217.0M | -$78.0M | -$198.0M |
| Flujo de Caja Operativo | $3.04B | $2.73B | $3.94B | $3.72B | $3.64B | $3.26B | $2.95B | $2.87B | $3.00B | $3.32B |
| Inversiones (CapEx) | -$3.01B | -$2.46B | -$2.22B | -$2.17B | -$1.99B | -$2.32B | -$2.64B | -$2.95B | -$3.58B | -$4.68B |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | -$300.0M | -$299.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $32.0M | $270.0M | $1.72B | $1.55B | $1.65B | $939.0M | $304.0M | -$82.0M | -$572.0M | -$1.36B |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +1.2% | +4.6% | +0.8% | -9.4% | +2.5% | +19.4% | -3.9% | +2.2% | +11.0% | |
| Crecimiento Beneficio Neto (anual) | -44.4% | +63.4% | +26.6% | -4.6% | +11.8% | -26.7% | -54.9% | +127.0% | +19.8% | |
| Crecimiento BPA (anual) | -44.4% | +63.4% | +26.6% | -4.6% | +11.8% | -26.7% | -54.9% | +127.0% | +19.8% | |
| Cambio en Acciones (anual) | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | +0.0% | |
| Crecimiento FCF (anual) | +743.8% | +537.8% | -10.2% | +6.8% | -43.1% | -67.6% | -127.0% | -597.6% | -137.2% | |
| Margen Bruto | 44.1% | 46.3% | 50.0% | 48.6% | 49.5% | 46.6% | 40.6% | 37.4% | 40.1% | 40.1% |
| Margen Operativo | 23.2% | 24.0% | 28.6% | 29.1% | 26.5% | 27.1% | 19.2% | 14.0% | 18.1% | 18.8% |
| Margen EBITDA | 41.5% | 42.0% | 46.2% | 44.5% | 47.1% | 44.4% | 37.8% | 33.7% | 18.1% | 36.5% |
| Margen Neto | 11.6% | 6.4% | 10.0% | 12.5% | 13.2% | 14.4% | 8.8% | 4.1% | 9.2% | 9.9% |
| Margen FCF | 0.3% | 2.5% | 15.3% | 13.7% | 16.1% | 8.9% | 2.4% | -0.7% | -4.6% | -9.9% |
| Tasa Impositiva Efectiva | 0.0% | 0.0% | 0.0% | 0.0% | 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 | $60.95 | $514.29 | $3280.00 | $2944.76 | $3144.76 | $1788.57 | $579.05 | $-156.19 | $-1089.52 | $-2584.76 |
| 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) | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 | $525000 |
Qué mirar en Utilities
Negocios regulados con crecimiento lento pero dividendos fiables. Son bonos con esteroides — mira deuda, tipos de interés, y consistencia del payout.
- ROE regulado (8-12%) — Utilities tienen ROE "permitido" por el regulador. Fuera de rango = anomalía
- Crecimiento EPS 5y — Utilities estables crecen EPS 4-6% anual — más = anomalía, menos = muerto
- Crecimiento dividendo 10y — Utilities top ("Dividend Aristocrats") suben dividendo 25+ años seguidos
- Deuda neta / EBITDA — Utilities usan mucha deuda — >6x con tipos altos es alarma
- Interest Coverage — EBITDA / intereses. Si cae <3x en subida de tipos, el dividendo peligra
- Payout Ratio — En utilities es normal alto (60-80%), pero >90% indica stress
Rentabilidad
| Rentabilidad sobre capital | 7.35% |
| Rentabilidad sobre capital invertido | 4.52% |
| Rentabilidad sobre activos | 2.23% |
| Margen bruto | 40.07% |
| Margen operativo | 20.07% |
| Margen neto | 1.58% |
Salud financiera
| Deuda / Patrimonio | 1.29 |
| Ratio corriente | 0.97 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 |
| P/VC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 44.1% | 46.3% | 50.0% | 48.6% | 49.5% | 46.6% | 40.6% | 37.4% | 40.1% | 40.1% |
| Margen Operativo | 23.2% | 24.0% | 28.6% | 29.1% | 26.5% | 27.1% | 19.2% | 14.0% | 18.1% | 18.8% |
| Margen Neto | 11.6% | 6.4% | 10.0% | 12.5% | 13.2% | 14.4% | 8.8% | 4.1% | 9.2% | 9.9% |
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Explorar sector: Utilities · Independent Power Producers
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