Estados financieros detallados de Akso Health Group (AHG): 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
Akso Health Group registró ingresos de $13.8M en el último ejercicio fiscal, con un CAGR de 5 años del 51.1%.
Márgenes de los últimos 12 meses: margen bruto -3.9%, margen operativo -7.2%, margen neto -6.7%.
Al precio actual de $0.75, AHG presenta beneficios negativos (P/E no significativo) y un ROE del -50.15%. La capitalización bursátil es de $636M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Ingresos | $22.9M | $107.3M | $3.7M | $6.9M | $1.8M | $6.0M | $13.2M | $2.4M | $14.8M | $13.8M |
| Coste de Ventas | $5.1M | $8.5M | 0 | 0 | $544572 | $5.4M | $11.9M | $2.3M | $15.1M | $13.8M |
| Beneficio Bruto | $17.8M | $98.8M | $3.7M | $6.9M | $1.2M | $605134 | $1.3M | $122132 | -$281526 | -$11315 |
| I+D | $5.1M | $8.5M | 0 | $1.0M | $441405 | $421186 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $7.9M | $22.9M | $10.9M | $22.3M | $2.1M | $3.1M | $15.5M | $8.8M | $3.6M | $4.0M |
| Gastos Operativos | $7.9M | $22.9M | $10.9M | $55.0M | $28.4M | $3.9M | $15.5M | $8.8M | $166.0M | $4.0M |
| Beneficio Operativo | $9.9M | $75.9M | -$7.2M | -$48.1M | -$27.1M | -$3.3M | -$14.3M | -$8.6M | -$166.3M | -$4.0M |
| EBITDA | $10.0M | $76.7M | -$6.8M | -$44.3M | -$28.9M | -$3.2M | -$14.3M | -$8.6M | -$1.8M | -$1.6M |
| Gastos por Intereses | 0 | 0 | 0 | $2.5M | $2.2M | $804138 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | $10.1M | $76.5M | -$6.8M | -$46.9M | -$3.8M | -$4.0M | -$13.1M | -$9.1M | -$166.3M | -$20.7M |
| Impuestos | $1.5M | $11.0M | $807710 | $489955 | $482976 | $92816 | $17549 | $24988 | -$30.8M | -$2.0M |
| Beneficio Neto | $8.6M | $65.5M | $5.5M | -$71.2M | -$34.8M | -$16.8M | -$1.4M | -$9.5M | -$135.0M | -$18.7M |
| BPA | $1.62 | $12.36 | $0.93 | $-13.14 | $-0.26 | $-2.55 | $-0.06 | $-0.45 | $-0.48 | $-0.03 |
| BPA Diluido | $1.62 | $12.36 | $0.93 | $-13.14 | $-0.27 | $-2.55 | $-0.06 | $-0.39 | $-0.48 | $-0.03 |
| Acciones en Circulación (Diluidas) | $5.3M | $5.3M | $5.9M | $5.4M | $5.4M | $6.6M | $7.6M | $23.8M | $285.1M | $722.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q1 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Ingresos | $3.9M | $3.5M | $3.4M | $3.4M |
| Beneficio Bruto | -$237135 | $311424 | -$317082 | -$317082 |
| Beneficio Operativo | -$82.9M | -$718660 | -$9.6M | -$9.6M |
| EBITDA | -$624702 | -$106470 | -$707750 | -$707750 |
| Beneficio Neto | -$67.2M | -$637851 | -$8.7M | -$18.7M |
| BPA | $-0.20 | $-0.00 | $-0.03 | $-0.03 |
| BPA Diluido | $-0.20 | $-0.00 | $-0.03 | $-0.03 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caja y Equivalentes | $19.2M | $132.6M | $57.4M | $6.7M | $15.1M | $18.4M | $7.9M | $85.2M | $176.2M | $170572 |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $2.2M | $29.3M | $37.0M | $36.3M | $14.4M | $20.0M | $9.2M | 0 | $12.9M | $1.3M |
| Inventario | 0 | 0 | 0 | 0 | 0 | $7.8M | $1.7M | $191201 | $190242 | $200135 |
| Activos Corrientes | $27.6M | $163.1M | $97.7M | $52.0M | $30.1M | $62.6M | $20.5M | $142.0M | $196.1M | $189.5M |
| Inmovilizado Material | $427938 | $767087 | $1.3M | $763570 | $66887 | $55433 | 0 | 0 | $114544 | $28912 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $10.8M | 0 |
| Activos Intangibles | 0 | $331583 | 0 | 0 | 0 | 0 | 0 | 0 | $7.9M | $58319 |
| Activos Totales | $28.4M | $163.9M | $173.3M | $80.5M | $31.7M | $62.8M | $20.5M | $142.0M | $215.0M | $189.6M |
| Cuentas por Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda a Corto | 0 | 0 | 0 | 0 | $10.0M | 0 | 0 | 0 | 0 | $350527 |
| Pasivos Corrientes | $4.9M | $23.8M | $26.6M | $12.4M | $14.4M | $50.5M | $11.6M | $3.6M | $13.8M | $8.7M |
| Deuda a Largo | 0 | 0 | $20.0M | $20.0M | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $4.9M | $23.8M | $46.8M | $32.4M | $14.4M | $50.5M | $11.6M | $3.6M | $15.8M | $8.7M |
| Reservas | $11.8M | $77.2M | $69.8M | -$1.4M | -$36.3M | -$53.1M | -$54.5M | -$63.9M | -$198.9M | -$217.6M |
| Patrimonio Neto | $23.5M | $140.0M | $126.5M | $48.1M | $17.3M | $12.3M | $8.7M | $138.4M | $199.1M | $180.9M |
| Deuda Total | 0 | 0 | $20.0M | $20.8M | $10.0M | 0 | 0 | 0 | $81737 | $375659 |
| Deuda Neta | -$19.2M | -$132.6M | -$37.4M | $14.1M | -$5.1M | -$18.4M | -$7.9M | -$85.2M | -$176.1M | $205087 |
| Capital Circulante | $22.7M | $139.3M | $71.1M | $39.7M | $15.7M | $12.1M | $8.8M | $138.4M | $182.3M | $180.8M |
Balance (Trimestral)
| Año | 2025-Q1 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Caja y Equivalentes | $176.2M | $11.1M | $170572 | $170572 |
| Activos Totales | $215.0M | $212.0M | $189.6M | $189.6M |
| Pasivos Totales | $15.8M | $13.7M | $8.7M | $8.7M |
| Patrimonio Neto | $199.1M | $198.3M | $180.9M | $180.9M |
| Deuda Total | $81737 | $63053 | $2.4M | $375659 |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Beneficio Neto | $8.6M | $65.5M | $5.5M | -$71.2M | -$34.7M | -$4.1M | -$13.1M | -$9.1M | -$135.5M | -$18.7M |
| Amortizaciones | $92224 | $174384 | $406799 | $580503 | $15161 | $18390 | 0 | 0 | $2.1M | $2.4M |
| Compensación en Acciones | 0 | $1.8M | $6.6M | $347466 | $55468 | $391625 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | -$608985 | $20.3M | -$15.3M | -$30.9M | $21.1M | -$7.6M | -$1.2M | $2.1M | $3.0M | -$11.3M |
| Flujo de Caja Operativo | $8.2M | $87.7M | -$1.7M | -$55.9M | $10.1M | -$8.6M | -$3.3M | $1.4M | $1.2M | -$12.8M |
| Inversiones (CapEx) | -$287765 | -$456030 | -$944813 | -$314520 | 0 | -$4861 | 0 | 0 | -$154460 | -$175.7M |
| Adquisiciones | 0 | 0 | $5901 | $7815 | 0 | 0 | 0 | 0 | -$93.8M | 0 |
| Recompra de Acciones | 0 | 0 | -$1.3M | -$2.7M | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | -$19.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $7.9M | $87.3M | -$2.7M | -$56.2M | $10.1M | -$8.6M | -$3.3M | $1.4M | $1.0M | -$188.5M |
Flujo de Caja (Trimestral)
| Año | 2025-Q1 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Flujo de Caja Operativo | $3.0M | $616242 | -$7.0M | -$12.8M |
| Inversiones (CapEx) | -$12141 | -$87.8M | $87.8M | -$1638 |
| Flujo de Caja Libre | $3.0M | -$87.2M | $80.8M | -$12.8M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crecimiento Ingresos (anual) | | +368.0% | -96.6% | +87.1% | -74.6% | +241.9% | +119.7% | -81.7% | +512.1% | -6.4% |
| Crecimiento Beneficio Neto (anual) | | +664.0% | -91.6% | -1386.9% | +51.1% | +51.6% | +91.9% | -595.5% | -1327.0% | +86.2% |
| Crecimiento BPA (anual) | | +663.0% | -92.5% | -1512.9% | +98.0% | -880.8% | +97.6% | -650.0% | -6.7% | +93.7% |
| Cambio en Acciones (anual) | | -0.6% | +11.0% | -7.9% | +0.2% | +22.1% | +15.1% | +212.6% | +1096.6% | +153.5% |
| Crecimiento FCF (anual) | | +1004.4% | -103.1% | -1999.5% | +117.9% | -185.8% | +62.3% | +141.5% | -24.3% | -18527.4% |
| Margen Bruto | 77.5% | 92.1% | 100.0% | 100.0% | 69.0% | 10.1% | 9.6% | 5.1% | -1.9% | -0.1% |
| Margen Operativo | 43.3% | 70.7% | -194.6% | -695.7% | -1547.1% | -54.3% | -108.2% | -357.8% | -1125.4% | -28.9% |
| Margen EBITDA | 43.7% | 71.5% | -183.8% | -640.0% | -1646.8% | -53.1% | -108.2% | -357.8% | -12.0% | -11.8% |
| Margen Neto | 37.4% | 61.1% | 149.7% | -1029.7% | -1984.5% | -280.8% | -10.3% | -391.8% | -913.4% | -135.0% |
| Margen FCF | 34.5% | 81.4% | -72.4% | -812.5% | 573.2% | -143.8% | -24.7% | 56.0% | 6.9% | -1362.5% |
| Tasa Impositiva Efectiva | 15.1% | 14.4% | -11.9% | -1.0% | -12.7% | -2.3% | -0.1% | -0.3% | 18.5% | 9.6% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Acción | $1.48 | $16.48 | $-0.46 | $-10.37 | $1.85 | $-1.30 | $-0.43 | $0.06 | $0.00 | $-0.26 |
| Dividendo por Acción | $0.00 | $0.00 | $3.32 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $5.3M | $5.3M | $5.9M | $5.4M | $5.4M | $6.6M | $7.6M | $20.8M | $285.1M | $722.7M |
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 | -50.15% |
| Rentabilidad sobre capital invertido | -56.74% |
| Rentabilidad sobre activos | -50.20% |
| Margen bruto | -3.93% |
| Margen operativo | -721.63% |
| Margen neto | -667.88% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 21.77 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 10.01 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/E | 70.33 | 8.24 | 32.32 | -0.29 | -6.77 | -0.66 | -5.92 | -2.53 | -2.46 | -76.00 |
| P/VC | 25.81 | 3.85 | 1.40 | 0.43 | 0.55 | 0.91 | 0.31 | 0.17 | 1.69 | 9.11 |
| P/V | 26.47 | 5.03 | 47.83 | 2.96 | 5.44 | 1.87 | 0.21 | 9.83 | 22.76 | 119.13 |
| Margen Bruto | 77.5% | 92.1% | 100.0% | 100.0% | 69.0% | 10.1% | 9.6% | 5.1% | -1.9% | -0.1% |
| Margen Operativo | 43.3% | 70.7% | -194.6% | -695.7% | -1547.1% | -54.3% | -108.2% | -357.8% | -1125.4% | -28.9% |
| Margen Neto | 37.4% | 61.1% | 149.7% | -1029.7% | -1984.5% | -280.8% | -10.3% | -391.8% | -913.4% | -135.0% |