Estados financieros detallados de ACADIA Pharmaceuticals Inc. (ACAD): 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
ACADIA Pharmaceuticals Inc. registró ingresos de $1.07B en el último ejercicio fiscal, con un CAGR de 5 años del 19.4%.
Márgenes de los últimos 12 meses: margen bruto 91.1%, margen operativo 7.6%, margen neto 33.4%.
Al precio actual de $27.83, ACAD cotiza a un P/E de 12.10 y un ROE del 32.39%. La capitalización bursátil es de $4.8B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $17.3M | $124.9M | $223.8M | $339.1M | $441.8M | $484.1M | $517.2M | $726.4M | $957.8M | $1.07B |
| Coste de Ventas | $4.4M | $13.1M | $18.3M | $19.6M | $20.6M | $19.1M | $10.2M | $45.7M | $81.8M | $89.0M |
| Beneficio Bruto | $12.9M | $111.8M | $205.5M | $319.5M | $421.2M | $465.0M | $507.1M | $680.7M | $876.0M | $982.5M |
| I+D | $99.3M | $149.2M | $187.2M | $240.4M | $319.1M | $239.4M | $361.6M | $351.6M | $303.2M | $328.8M |
| Generales y Administrativos | $186.5M | $255.1M | $265.8M | $325.6M | $388.7M | $396.0M | $369.1M | $402.5M | $488.4M | $548.9M |
| Gastos Operativos | $285.7M | $404.3M | $452.9M | $566.0M | $707.8M | $635.4M | $730.7M | $754.1M | $645.2M | $877.7M |
| Beneficio Operativo | -$272.8M | -$292.4M | -$247.4M | -$246.5M | -$286.6M | -$170.4M | -$223.6M | -$73.4M | $230.8M | $104.8M |
| EBITDA | -$271.0M | -$289.7M | -$244.4M | -$243.8M | -$283.7M | -$164.2M | -$211.4M | -$45.5M | $100.2M | $150.7M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$270.1M | -$288.3M | -$243.9M | -$234.4M | -$281.0M | -$167.5M | -$213.4M | -$51.0M | $258.1M | $138.9M |
| Impuestos | $1.3M | $1.1M | $1.3M | $876000 | $611000 | $351000 | $2.5M | $10.2M | $31.6M | -$252.1M |
| Beneficio Neto | -$271.4M | -$289.4M | -$245.2M | -$235.3M | -$281.6M | -$167.9M | -$216.0M | -$61.3M | $226.5M | $391.0M |
| BPA | $-2.34 | $-2.36 | $-1.94 | $-1.60 | $-1.79 | $-1.05 | $-1.34 | $-0.37 | $1.37 | $2.32 |
| BPA Diluido | $-2.34 | $-2.36 | $-1.94 | $-1.60 | $-1.79 | $-1.05 | $-1.34 | $-0.37 | $1.36 | $2.29 |
| Acciones en Circulación (Diluidas) | $115.9M | $122.6M | $126.6M | $147.2M | $157.3M | $160.5M | $161.7M | $163.8M | $166.4M | $171.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $278.6M | $284.0M | $268.1M | $308.0M |
| Beneficio Bruto | $257.0M | $257.8M | $243.3M | $279.6M |
| Beneficio Operativo | $35.8M | $17.4M | -$4.6M | $37.8M |
| EBITDA | $47.5M | $29.2M | $7.0M | $32.4M |
| Beneficio Neto | $71.8M | $273.6M | $3.6M | $31.5M |
| BPA | $0.43 | $1.62 | $0.02 | $0.18 |
| BPA Diluido | $0.42 | $1.60 | $0.02 | $0.18 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $163.6M | $69.4M | $134.8M | $189.7M | $326.0M | $147.4M | $114.8M | $188.7M | $319.6M | $177.7M |
| Inversiones a Corto | $365.4M | $271.9M | $338.8M | $507.7M | $305.9M | $373.3M | $302.0M | $250.2M | $436.4M | $642.0M |
| Cuentas por Cobrar | $7.1M | $18.4M | $27.8M | $37.9M | $50.3M | $65.3M | $63.1M | $102.3M | $104.7M | $148.2M |
| Inventario | $4.2M | $5.2M | $4.1M | $6.3M | $9.7M | $7.9M | $6.6M | $35.8M | $21.9M | $34.7M |
| Activos Corrientes | $547.9M | $373.5M | $526.1M | $760.2M | $717.6M | $617.8M | $507.9M | $616.1M | $938.3M | $1.06B |
| Inmovilizado Material | $3.1M | $2.7M | $3.3M | $12.7M | $56.4M | $66.3M | $61.6M | $56.5M | $50.8M | $54.9M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $7.0M | $5.5M | $4.1M | $2.6M | $1.1M | 0 | 0 | $65.5M | $119.8M | $108.9M |
| Activos Totales | $561.2M | $384.5M | $540.2M | $783.2M | $782.6M | $700.1M | $587.8M | $749.0M | $1.19B | $1.56B |
| Cuentas por Pagar | $3.9M | $8.8M | $3.2M | $7.2M | $8.5M | $6.9M | $12.7M | $17.5M | $16.2M | $10.9M |
| Deuda a Corto | 0 | 0 | 0 | $3.4M | $5.1M | 0 | 0 | $9.4M | 0 | $11.6M |
| Pasivos Corrientes | $42.6M | $49.0M | $59.6M | $74.8M | $106.0M | $96.1M | $125.6M | $254.3M | $394.9M | $277.1M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $42.7M | $49.2M | $61.1M | $84.0M | $155.6M | $159.2M | $187.4M | $317.2M | $455.0M | $336.8M |
| Reservas | -$934.0M | -$1.22B | -$1.47B | -$1.70B | -$1.99B | -$2.15B | -$2.37B | -$2.43B | -$2.20B | -$1.81B |
| Patrimonio Neto | $518.4M | $335.3M | $479.1M | $699.1M | $627.0M | $540.9M | $400.4M | $431.8M | $732.8M | $1.23B |
| Deuda Total | 0 | 0 | 0 | $9.8M | $49.5M | $64.4M | $62.0M | $57.2M | $52.0M | $52.2M |
| Deuda Neta | -$529.0M | -$341.3M | -$473.5M | -$687.6M | -$582.4M | -$456.3M | -$354.8M | -$381.7M | -$704.0M | -$767.5M |
| Capital Circulante | $505.3M | $324.4M | $466.5M | $685.4M | $611.6M | $521.8M | $382.3M | $361.9M | $543.4M | $785.0M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $258.0M | $177.7M | $282.2M | $385.0M |
| Activos Totales | $1.33B | $1.56B | $1.61B | $1.74B |
| Pasivos Totales | $413.5M | $336.8M | $357.2M | $436.3M |
| Patrimonio Neto | $917.3M | $1.23B | $1.25B | $1.31B |
| Deuda Total | $54.8M | $52.2M | $50.8M | $73.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$271.4M | -$289.4M | -$245.2M | -$235.3M | -$281.6M | -$167.9M | -$216.0M | -$61.3M | $226.5M | $391.0M |
| Amortizaciones | $1.8M | $2.7M | $3.0M | $2.8M | $2.9M | $3.3M | $2.0M | $5.6M | $15.9M | $11.8M |
| Compensación en Acciones | $55.3M | $75.5M | $81.6M | $82.3M | $84.4M | $63.6M | $68.2M | $66.4M | $67.0M | 0 |
| Cambio en Capital Circulante | $4.4M | -$6.4M | -$8.2M | $3.7M | $11.0M | -$24.8M | $38.0M | $18.1M | $4.2M | -$89.8M |
| Flujo de Caja Operativo | -$210.4M | -$217.9M | -$167.5M | -$151.1M | -$136.2M | -$125.7M | -$114.0M | $16.7M | $157.7M | $109.8M |
| Inversiones (CapEx) | -$9.5M | -$812000 | -$2.1M | -$1.1M | -$7.6M | -$1.1M | 0 | -$40.0M | -$523000 | -$4.7M |
| Adquisiciones | $8.0M | 0 | $44000 | $164.7M | -$200.1M | $70.0M | 0 | -$32.0M | 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 | -$219.9M | -$218.7M | -$169.6M | -$152.3M | -$143.8M | -$126.8M | -$114.0M | -$23.3M | $157.2M | $105.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $74.3M | -$48.7M | $34.0M | $134.8M |
| Inversiones (CapEx) | -$388000 | -$4.0M | -$5.2M | -$10.3M |
| Flujo de Caja Libre | $73.9M | -$52.7M | $28.8M | $124.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $13.2M | 0 | $14.7M | $31.6M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +620.7% | +79.2% | +51.5% | +30.3% | +9.6% | +6.8% | +40.4% | +31.8% | +11.9% |
| Crecimiento Beneficio Neto (anual) | | -6.6% | +15.3% | +4.1% | -19.7% | +40.4% | -28.7% | +71.6% | +469.5% | +72.7% |
| Crecimiento BPA (anual) | | -0.9% | +17.8% | +17.5% | -11.9% | +41.3% | -27.6% | +72.4% | +470.3% | +69.3% |
| Cambio en Acciones (anual) | | +5.8% | +3.2% | +16.3% | +6.9% | +2.0% | +0.7% | +1.3% | +1.6% | +3.0% |
| Crecimiento FCF (anual) | | +0.6% | +22.4% | +10.2% | +5.6% | +11.8% | +10.1% | +79.5% | +773.3% | -33.1% |
| Margen Bruto | 74.6% | 89.5% | 91.8% | 94.2% | 95.3% | 96.0% | 98.0% | 93.7% | 91.5% | 91.7% |
| Margen Operativo | -1574.1% | -234.1% | -110.6% | -72.7% | -64.9% | -35.2% | -43.2% | -10.1% | 24.1% | 9.8% |
| Margen EBITDA | -1563.6% | -231.9% | -109.2% | -71.9% | -64.2% | -33.9% | -40.9% | -6.3% | 10.5% | 14.1% |
| Margen Neto | -1565.9% | -231.7% | -109.6% | -69.4% | -63.7% | -34.7% | -41.8% | -8.4% | 23.6% | 36.5% |
| Margen FCF | -1268.9% | -175.1% | -75.8% | -44.9% | -32.5% | -26.2% | -22.0% | -3.2% | 16.4% | 9.8% |
| Tasa Impositiva Efectiva | -0.5% | -0.4% | -0.5% | -0.4% | -0.2% | -0.2% | -1.2% | -20.1% | 12.3% | -181.5% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.90 | $-1.78 | $-1.34 | $-1.03 | $-0.91 | $-0.79 | $-0.71 | $-0.14 | $0.94 | $0.61 |
| 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) | $115.9M | $122.6M | $126.6M | $147.2M | $157.3M | $160.5M | $161.7M | $163.8M | $165.7M | $169.3M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | 32.39% |
| Rentabilidad sobre capital invertido | 6.19% |
| Rentabilidad sobre activos | 21.83% |
| Margen bruto | 91.13% |
| Margen operativo | 7.59% |
| Margen neto | 33.42% |
Salud financiera
| Deuda / Patrimonio | 0.06 |
| Ratio corriente | 3.39 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -12.32 | -12.76 | -8.34 | -26.74 | -29.87 | -22.23 | -11.88 | -84.62 | 13.39 | 11.51 |
| P/VC | 6.45 | 11.01 | 4.27 | 9.01 | 13.41 | 6.93 | 6.43 | 11.88 | 4.15 | 3.69 |
| P/V | 192.80 | 29.56 | 9.15 | 18.57 | 19.04 | 7.74 | 4.98 | 7.06 | 3.17 | 4.22 |
| Margen Bruto | 74.6% | 89.5% | 91.8% | 94.2% | 95.3% | 96.0% | 98.0% | 93.7% | 91.5% | 91.7% |
| Margen Operativo | -1574.1% | -234.1% | -110.6% | -72.7% | -64.9% | -35.2% | -43.2% | -10.1% | 24.1% | 9.8% |
| Margen Neto | -1565.9% | -231.7% | -109.6% | -69.4% | -63.7% | -34.7% | -41.8% | -8.4% | 23.6% | 36.5% |