Estados financieros detallados de Adagio Medical Holdings, Inc. (ADGM): 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 $0.50, ADGM presenta beneficios negativos (P/E no significativo) y un ROE del -202.26%. La capitalización bursátil es de $11M.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | $270000 | $189000 | $300000 | $269000 | 0 |
| Coste de Ventas | 0 | $1.2M | $875000 | $1.3M | $1.9M | $684000 |
| Beneficio Bruto | 0 | -$888000 | -$686000 | -$1.0M | -$1.7M | -$684000 |
| I+D | 0 | $15.4M | $17.9M | $15.4M | $4.6M | $10.6M |
| Generales y Administrativos | $13539 | $4.4M | $5.4M | $11.5M | $7.0M | $10.6M |
| Gastos Operativos | $13539 | $19.8M | $23.2M | $26.9M | $60.8M | $21.2M |
| Beneficio Operativo | -$13539 | -$20.6M | -$23.9M | -$27.9M | -$62.5M | -$21.9M |
| EBITDA | -$13539 | -$19.6M | -$23.0M | -$36.0M | -$53.5M | -$21.2M |
| Gastos por Intereses | 0 | 0 | $137000 | $1.7M | -$1.1M | $2.9M |
| Beneficio Antes de Impuestos | -$13539 | -$19.9M | -$23.7M | -$38.1M | -$53.8M | -$25.1M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$13539 | -$19.9M | -$23.7M | -$38.1M | -$53.8M | -$25.1M |
| BPA | $-0.00 | $-0.34 | $-1.23 | $-0.16 | $-3.54 | $-1.51 |
| BPA Diluido | $-0.00 | $-0.34 | $-1.23 | $-0.16 | $-3.54 | $-1.51 |
| Acciones en Circulación (Diluidas) | $19.2M | $19.2M | $19.2M | $13.4M | $15.2M | $16.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$31000 | -$58000 | 0 | 0 |
| Beneficio Operativo | -$5.7M | -$4.0M | -$5.2M | -$4.9M |
| EBITDA | -$9.2M | -$2.3M | -$6.0M | -$5.7M |
| Beneficio Neto | -$10.1M | -$3.3M | -$7.0M | -$6.7M |
| BPA | $-0.66 | $-0.16 | $-0.31 | $-0.30 |
| BPA Diluido | $-0.66 | $-0.16 | $-0.31 | $-0.30 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | 0 | $18.9M | $5.5M | $1.4M | $20.6M | $17.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | $33000 | 0 | $71000 | $35000 | 0 |
| Inventario | 0 | $334000 | $367000 | $3.3M | $2.6M | $1.7M |
| Activos Corrientes | $1750 | $19.7M | $6.7M | $5.2M | $25.3M | $20.1M |
| Inmovilizado Material | 0 | $1.7M | $1.9M | $1.6M | $2.1M | $2.2M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | $14.0M | $14.0M |
| Activos Intangibles | 0 | 0 | 0 | 0 | $7.0M | $7.0M |
| Activos Totales | $42455 | $21.4M | $8.7M | $6.8M | $48.4M | $43.3M |
| Cuentas por Pagar | 0 | $578000 | $1.0M | $3.8M | $2.8M | $1.1M |
| Deuda a Corto | 0 | 0 | $9.5M | $38.1M | $143000 | 0 |
| Pasivos Corrientes | $55994 | $2.6M | $13.0M | $47.2M | $7.8M | $8.2M |
| Deuda a Largo | 0 | 0 | 0 | $143000 | $16.1M | $21.0M |
| Pasivos Totales | $55994 | $94.1M | $104.6M | $138.8M | $28.5M | $30.9M |
| Reservas | -$13539 | -$73.4M | -$97.1M | -$133.6M | -$70.6M | -$95.6M |
| Patrimonio Neto | -$13539 | -$72.6M | -$95.9M | -$132.0M | $19.9M | $12.4M |
| Deuda Total | 0 | 0 | $9.8M | $38.4M | $16.3M | $21.8M |
| Deuda Neta | 0 | -$18.9M | $4.2M | $37.0M | -$4.3M | $4.7M |
| Capital Circulante | -$54244 | $17.1M | -$6.2M | -$42.0M | $17.6M | $11.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $4.7M | $17.1M | $12.9M | $7.7M |
| Activos Totales | $31.5M | $43.3M | $39.3M | $33.9M |
| Pasivos Totales | $32.9M | $30.9M | $33.6M | $34.3M |
| Patrimonio Neto | -$1.3M | $12.4M | $5.7M | -$415000 |
| Deuda Total | $22.0M | $21.8M | $24.1M | $26.0M |
Flujo de Caja (10 años)
| Año | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$19.9M | -$23.7M | -$2.1M | -$75.0M | -$25.1M |
| Amortizaciones | $336000 | $495000 | 0 | $1.4M | $970000 |
| Compensación en Acciones | $339000 | $365000 | 0 | 0 | $1.5M |
| Cambio en Capital Circulante | $579000 | $330000 | $4.0M | $5.8M | $2.7M |
| Flujo de Caja Operativo | -$19.3M | -$22.4M | -$725858 | -$29.5M | -$19.0M |
| Inversiones (CapEx) | -$1.3M | -$492000 | -$2 | -$1.6M | -$374000 |
| Adquisiciones | 0 | $2000 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | -$115.1M | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$20.6M | -$22.9M | -$725860 | -$31.1M | -$19.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$3.0M | -$4.1M | -$4.1M | -$5.3M |
| Inversiones (CapEx) | -$520000 | $865000 | -$2000 | -$6000 |
| Flujo de Caja Libre | -$3.5M | -$3.3M | -$4.1M | -$5.3M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $137000 | -$589000 | $389000 | $479000 |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | -30.0% | +58.7% | -10.3% | -100.0% |
| Crecimiento Beneficio Neto (anual) | | -147163.5% | -18.7% | -61.1% | -40.9% | +53.3% |
| Crecimiento BPA (anual) | | -48471.4% | -261.8% | +87.0% | -2112.5% | +57.3% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | -30.2% | +13.5% | +9.1% |
| Crecimiento FCF (anual) | | -11.3% | +96.8% | -4185.5% | +37.7% |
| Margen Bruto | | -328.9% | -363.0% | -335.3% | -620.1% | |
| Margen Operativo | | -7646.3% | -12652.4% | -9314.0% | -23226.8% | |
| Margen EBITDA | | -7260.0% | -12191.0% | -11985.0% | -19881.8% | |
| Margen Neto | | -7384.4% | -12525.4% | -12715.3% | -19986.2% | |
| Margen FCF | -7621.9% | -12118.5% | -242.0% | -11563.9% | |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.07 | $-1.19 | $-0.05 | $-2.05 | $-1.17 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $19.2M | $19.2M | $19.2M | $13.4M | $15.2M | $16.6M |
Qué mirar en Salud / Farma
El pipeline de I+D es el activo invisible. Patentes que caducan = ingresos que evaporan. Mira innovación y flujo de caja.
- I+D / Ingresos — Indica inversión en pipeline futuro. Farma seria reinvierte 15-20%
- Crecimiento EPS 5y — Tras caducidad de patentes, ¿siguen creciendo?
- Margen bruto — Farma de marca >70%. Genéricos mucho más bajo — define el tipo de negocio
- FCF / Net Income — Calidad del beneficio — farma grande debería convertir >90%
- ROIC — Capital reinvertido con eficiencia — clave en farma por ciclos de I+D largos
- Deuda neta / EBITDA — Adquisiciones de farma generan mucha deuda — ojo al post-M&A
- P/E vs historial 10y propio — La mejor comparación es con su propia historia, no con competidores
Rentabilidad
| Rentabilidad sobre capital | -202.26% |
| Rentabilidad sobre capital invertido | -62.23% |
| Rentabilidad sobre activos | -57.99% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 1.75 |
| Ratio corriente | 2.44 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -12928.57 | -26.62 | -7.36 | -56.56 | -0.30 | -0.69 |
| P/VC | -12825.01 | -2.39 | -1.81 | -0.92 | 0.80 | 1.39 |
| P/V | 0.00 | 643.10 | 918.72 | 403.86 | 59.32 | 0.00 |
| Margen Bruto | 0.0% | -328.9% | -363.0% | -335.3% | -620.1% | 0.0% |
| Margen Operativo | 0.0% | -7646.3% | -12652.4% | -9314.0% | -23226.8% | 0.0% |
| Margen Neto | 0.0% | -7384.4% | -12525.4% | -12715.3% | -19986.2% | 0.0% |