Estados financieros detallados de XBP Global Holdings, Inc. (XBP): 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
XBP Global Holdings, Inc. registró ingresos de $791.0M en el último ejercicio fiscal, con un CAGR de 5 años del 29.5%.
Márgenes de los últimos 12 meses: margen bruto 18.6%, margen operativo -2.3%, margen neto 134.9%.
Al precio actual de $3.48, XBP cotiza a un P/E de 0.04 y un ROE del 13.28%. La capitalización bursátil es de $41M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $251.5M | $217.5M | $205.9M | $180.5M | $155.2M | $142.8M | $791.0M |
| Coste de Ventas | $200.8M | $175.5M | $165.0M | $136.8M | $115.3M | $104.5M | $667.9M |
| Beneficio Bruto | $50.7M | $42.0M | $40.9M | $43.7M | $39.9M | $38.3M | $123.1M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $31.7M | $44.2M | $30.6M | $32.2M | $31.2M | $26.5M | $99.9M |
| Gastos Operativos | $52.4M | $61.1M | $44.7M | $45.7M | $38.8M | $34.8M | $111.0M |
| Beneficio Operativo | -$1.7M | -$19.1M | -$3.8M | -$1.9M | $1.1M | $3.5M | $12.1M |
| EBITDA | $6.7M | -$14.7M | -$1.8M | $2.1M | $5.9M | $6.4M | $1.29B |
| Gastos por Intereses | $3.1M | $2.8M | 0 | $3.1M | $7.0M | $6.3M | $99.5M |
| Beneficio Antes de Impuestos | -$5.5M | -$23.9M | -$9.8M | -$5.4M | -$5.0M | -$3.6M | $1.14B |
| Impuestos | $1.5M | $4.5M | $2.9M | $2.6M | $606000 | $2.9M | $40.9M |
| Beneficio Neto | -$7.0M | -$28.4M | -$12.7M | -$7.9M | -$11.0M | -$12.4M | $1.10B |
| BPA | $-0.23 | $-8.97 | $-0.54 | $-3.64 | $-4.90 | $-71.32 | $93.87 |
| BPA Diluido | $-0.23 | $-8.97 | $-0.54 | $-3.64 | $-4.90 | $-71.32 | $93.87 |
| Acciones en Circulación (Diluidas) | $30.2M | $3.2M | $3.2M | $2.2M | $2.3M | $3.0M | $11.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $209.1M | $207.0M | $197.1M | $191.3M |
| Beneficio Bruto | $33.6M | $29.8M | $45.2M | $41.2M |
| Beneficio Operativo | $2.6M | -$2.1M | -$15.1M | -$3.7M |
| EBITDA | $1.24B | $69.3M | $721000 | $10.7M |
| Beneficio Neto | $1.17B | -$45.3M | -$26.8M | -$16.7M |
| BPA | $99.92 | $-3.85 | $-2.27 | $-1.42 |
| BPA Diluido | $99.92 | $-3.85 | $-2.27 | $-1.42 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $9.3M | $2.9M | $7.5M | $6.5M | $12.1M | $37.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $62.6M | $53.1M | $52.7M | $31.8M | $21.1M | $131.0M |
| Inventario | $5.4M | $4.1M | $4.5M | $4.0M | $3.8M | $11.4M |
| Activos Corrientes | $84.2M | $66.2M | $70.0M | $49.9M | $41.3M | $239.7M |
| Inmovilizado Material | $32.4M | $23.4M | $20.5M | $18.0M | $16.1M | $113.3M |
| Fondo de Comercio | $25.8M | $24.0M | $22.1M | $22.8M | $21.7M | $189.9M |
| Activos Intangibles | $3.2M | $2.3M | $1.5M | $1.5M | $1.1M | $344.1M |
| Activos Totales | $161.7M | $127.0M | $122.8M | $102.7M | $88.0M | $902.1M |
| Cuentas por Pagar | $13.4M | $14.1M | $16.9M | $13.3M | $12.6M | $55.7M |
| Deuda a Corto | $9.3M | $18.6M | $5.0M | $3.9M | $5.0M | $34.3M |
| Pasivos Corrientes | $104.7M | $102.4M | $101.9M | $82.1M | $68.8M | $322.0M |
| Deuda a Largo | $27.5M | $14.4M | $25.6M | $14.3M | $25.4M | $353.3M |
| Pasivos Totales | $180.9M | $153.5M | $149.8M | $115.3M | $109.4M | $814.8M |
| Reservas | 0 | 0 | 0 | -$11.3M | -$23.7M | -$351.1M |
| Patrimonio Neto | -$19.2M | -$26.5M | -$26.9M | -$12.6M | -$21.3M | $87.3M |
| Deuda Total | $56.2M | $45.9M | $37.8M | $23.6M | $35.4M | $431.2M |
| Deuda Neta | $46.9M | $43.0M | $30.3M | $17.1M | $23.3M | $394.1M |
| Capital Circulante | -$20.5M | -$36.2M | -$31.9M | -$32.2M | -$27.4M | -$82.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $34.5M | $37.1M | $28.5M | $18.6M |
| Activos Totales | $947.9M | $902.1M | $871.4M | $827.8M |
| Pasivos Totales | $817.4M | $814.8M | $808.9M | $781.3M |
| Patrimonio Neto | $130.5M | $87.3M | $62.6M | $46.5M |
| Deuda Total | $427.0M | $431.2M | $421.2M | $414.5M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$7.0M | -$28.4M | -$12.7M | -$7.9M | -$11.0M | -$12.4M | $1.10B |
| Amortizaciones | $9.1M | $6.3M | $4.9M | $4.4M | $3.9M | $3.7M | $48.5M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | $1.6M | $1.1M |
| Cambio en Capital Circulante | -$7.7M | $23.0M | -$284000 | $9.9M | $7.0M | -$644000 | -$56.7M |
| Flujo de Caja Operativo | -$4.8M | $5.4M | -$3.0M | $9.9M | -$1.5M | -$5.2M | -$141.7M |
| Inversiones (CapEx) | -$3.2M | -$2.2M | -$1.9M | -$6.4M | -$2.3M | -$1.3M | -$8.9M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$8.0M | $3.2M | -$5.0M | $3.5M | -$3.9M | -$6.5M | -$150.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$149.6M | $4.4M | -$5.0M | -$10.1M |
| Inversiones (CapEx) | -$6.2M | -$2.5M | -$1.1M | -$1.3M |
| Flujo de Caja Libre | -$155.8M | $1.8M | -$6.1M | -$11.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $628000 | $484000 | $533000 |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -13.5% | -5.3% | -12.4% | -14.0% | -8.0% | +454.1% |
| Crecimiento Beneficio Neto (anual) | | -305.4% | +55.1% | +37.7% | -39.3% | -11.9% | +9023.9% |
| Crecimiento BPA (anual) | | -3800.0% | +94.0% | -574.1% | -34.6% | -1355.5% | +231.6% |
| Cambio en Acciones (anual) | | -89.5% | +0.5% | -31.4% | +3.4% | +33.9% | +289.7% |
| Crecimiento FCF (anual) | | +139.9% | -254.2% | +171.2% | -209.7% | -67.9% | -2220.4% |
| Margen Bruto | 20.2% | 19.3% | 19.9% | 24.2% | 25.7% | 26.8% | 15.6% |
| Margen Operativo | -0.7% | -8.8% | -1.8% | -1.1% | 0.7% | 2.4% | 1.5% |
| Margen EBITDA | 2.7% | -6.8% | -0.9% | 1.2% | 3.8% | 4.5% | 163.4% |
| Margen Neto | -2.8% | -13.0% | -6.2% | -4.4% | -7.1% | -8.7% | 139.5% |
| Margen FCF | -3.2% | 1.5% | -2.4% | 2.0% | -2.5% | -4.5% | -19.0% |
| Tasa Impositiva Efectiva | -27.2% | -18.9% | -29.8% | -47.7% | -12.2% | -80.4% | 3.6% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.27 | $1.02 | $-1.56 | $1.62 | $-1.72 | $-2.15 | $-12.81 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $30.2M | $3.2M | $3.2M | $2.2M | $2.3M | $3.0M | $11.8M |
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 | 1328.38% |
| Rentabilidad sobre capital invertido | -3.14% |
| Rentabilidad sobre activos | 131.14% |
| Margen bruto | 18.62% |
| Margen operativo | -2.27% |
| Margen neto | 134.93% |
Salud financiera
| Deuda / Patrimonio | 8.92 |
| Ratio corriente | 0.64 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 0.33 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -423.04 | -10.85 | -184.81 | -28.60 | -10.82 | -0.15 | 0.07 |
| P/VC | 0.00 | -15.99 | -11.96 | -8.43 | -9.50 | -1.54 | 0.92 |
| P/V | 11.67 | 1.41 | 1.54 | 1.26 | 0.77 | 0.23 | 0.10 |
| Margen Bruto | 20.2% | 19.3% | 19.9% | 24.2% | 25.7% | 26.8% | 15.6% |
| Margen Operativo | -0.7% | -8.8% | -1.8% | -1.1% | 0.7% | 2.4% | 1.5% |
| Margen Neto | -2.8% | -13.0% | -6.2% | -4.4% | -7.1% | -8.7% | 139.5% |