Estados financieros detallados de Alkermes plc (ALKS): 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
Alkermes plc registró ingresos de $1.48B en el último ejercicio fiscal, con un CAGR de 5 años del 7.3%.
Márgenes de los últimos 12 meses: margen bruto 84.6%, margen operativo 7.0%, margen neto 4.0%. El flujo de caja libre creció a un CAGR del 63.9% en 5 años.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $745.7M | $903.4M | $1.09B | $1.17B | $1.04B | $1.17B | $1.11B | $1.66B | $1.56B | $1.48B |
| Coste de Ventas | $132.1M | $154.7M | $176.4M | $180.4M | $178.3M | $197.3M | $218.1M | $253.0M | $245.3M | $196.5M |
| Beneficio Bruto | $613.6M | $748.6M | $917.9M | $990.6M | $860.4M | $976.4M | $893.7M | $1.41B | $1.31B | $1.28B |
| I+D | $387.1M | $412.9M | $425.4M | $512.8M | $394.6M | $290.9M | $272.7M | $270.8M | $245.3M | $324.0M |
| Generales y Administrativos | $374.1M | $421.6M | $526.4M | $599.4M | $538.8M | $549.6M | $590.8M | $689.8M | $645.2M | $714.5M |
| Gastos Operativos | $822.2M | $896.5M | $1.02B | $1.17B | $972.9M | $878.7M | $899.8M | $996.2M | $891.7M | $1.03B |
| Beneficio Operativo | -$208.7M | -$147.9M | -$99.1M | -$175.5M | -$112.4M | $97.7M | -$6.1M | $414.1M | $420.6M | $254.0M |
| EBITDA | -$105.2M | -$32.7M | -$7.9M | -$103.0M | -$6.0M | $177.6M | $59.8M | $519.5M | $494.9M | $330.9M |
| Gastos por Intereses | $14.9M | $12.0M | $15.4M | $13.6M | $8.7M | $11.2M | $13.0M | $23.0M | $22.6M | $12.3M |
| Beneficio Antes de Impuestos | -$214.4M | -$143.3M | -$127.0M | -$197.1M | -$96.5M | $87.7M | -$31.1M | $421.5M | $443.8M | $291.4M |
| Impuestos | -$5.9M | $14.7M | $12.3M | -$436000 | $14.3M | $11.3M | $2.0M | -$97.6M | $71.6M | $49.8M |
| Beneficio Neto | -$208.4M | -$157.9M | -$139.3M | -$196.6M | -$110.9M | -$48.2M | -$158.3M | $355.8M | $367.1M | $241.7M |
| BPA | $-1.38 | $-1.03 | $-0.90 | $-1.25 | $-0.70 | $-0.30 | $-0.97 | $2.14 | $2.22 | $1.47 |
| BPA Diluido | $-1.38 | $-1.03 | $-0.90 | $-1.25 | $-0.70 | $-0.30 | $-0.97 | $2.10 | $2.17 | $1.43 |
| Acciones en Circulación (Diluidas) | $151.5M | $153.4M | $155.1M | $157.1M | $158.8M | $160.9M | $163.7M | $169.7M | $169.2M | $168.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $394.2M | $384.5M | $392.9M | $496.0M |
| Beneficio Bruto | $342.6M | $338.3M | $331.3M | $397.9M |
| Beneficio Operativo | $89.1M | $58.1M | -$48.3M | $18.4M |
| EBITDA | $108.8M | $76.5M | -$21.6M | $54.3M |
| Beneficio Neto | $82.8M | $49.3M | -$66.5M | $501000 |
| BPA | $0.50 | $0.30 | $-0.40 | $0.00 |
| BPA Diluido | $0.49 | $0.29 | $-0.40 | $0.00 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $186.4M | $191.3M | $266.8M | $203.8M | $273.0M | $337.5M | $292.5M | $457.5M | $291.1M | $1.12B |
| Inversiones a Corto | $310.9M | $242.2M | $272.5M | $331.2M | $362.1M | $198.8M | $316.0M | $316.0M | $460.5M | $199.6M |
| Cuentas por Cobrar | $191.1M | $233.6M | $300.5M | $265.5M | $289.5M | $326.6M | $296.9M | $333.2M | $389.5M | $334.0M |
| Inventario | $63.0M | $93.3M | $90.2M | $101.8M | $125.7M | $150.3M | $181.4M | $186.4M | $182.9M | $196.6M |
| Activos Corrientes | $912.6M | $966.1M | $983.3M | $962.0M | $1.11B | $1.06B | $1.13B | $1.49B | $1.42B | $1.93B |
| Inmovilizado Material | $264.8M | $284.7M | $310.0M | $374.5M | $481.7M | $456.7M | $320.5M | $318.4M | $311.8M | $298.9M |
| Fondo de Comercio | $92.9M | $92.9M | $92.9M | $92.9M | $92.9M | $92.9M | $83.0M | $83.0M | $83.0M | 0 |
| Activos Intangibles | $318.2M | $256.2M | $191.0M | $150.6M | $111.2M | $74.0M | $37.7M | $2.0M | $890000 | $83.8M |
| Activos Totales | $1.73B | $1.80B | $1.83B | $1.81B | $1.95B | $2.02B | $1.96B | $2.14B | $2.06B | $2.53B |
| Cuentas por Pagar | $46.3M | $55.5M | $39.8M | $54.3M | $46.0M | $55.7M | $32.8M | $65.6M | $45.6M | $108.0M |
| Deuda a Corto | $3.0M | $3.0M | $2.8M | $2.8M | $2.8M | $3.0M | $3.0M | $3.0M | 0 | $6.7M |
| Pasivos Corrientes | $212.0M | $291.1M | $339.8M | $391.1M | $438.3M | $471.3M | $497.7M | $520.2M | $465.2M | $543.4M |
| Deuda a Largo | $280.7M | $278.4M | $276.5M | $274.3M | $272.1M | $292.8M | $290.3M | $287.7M | 0 | 0 |
| Pasivos Totales | $516.9M | $594.4M | $653.7M | $720.0M | $882.7M | $911.9M | $920.2M | $933.5M | $590.6M | $711.0M |
| Reservas | -$947.9M | -$1.04B | -$1.19B | -$1.38B | -$1.49B | -$1.54B | -$1.70B | -$1.34B | -$976.5M | -$734.8M |
| Patrimonio Neto | $1.21B | $1.20B | $1.17B | $1.09B | $1.07B | $1.11B | $1.04B | $1.20B | $1.46B | $1.82B |
| Deuda Total | $283.7M | $281.4M | $279.3M | $290.9M | $410.2M | $416.2M | $379.4M | $372.2M | $75.5M | $70.0M |
| Deuda Neta | -$335.5M | -$309.3M | -$260.0M | -$244.0M | -$224.9M | -$120.1M | -$229.0M | -$401.3M | -$676.1M | -$1.25B |
| Capital Circulante | $700.6M | $674.9M | $643.5M | $570.9M | $672.7M | $590.9M | $632.6M | $965.3M | $950.2M | $1.39B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $616.4M | $1.12B | $351.6M | $511.5M |
| Activos Totales | $2.33B | $2.53B | $4.26B | $4.39B |
| Pasivos Totales | $596.1M | $711.0M | $2.51B | $2.58B |
| Patrimonio Neto | $1.73B | $1.82B | $1.75B | $1.81B |
| Deuda Total | $71.6M | $70.0M | $1.58B | $1.57B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$208.4M | -$157.9M | -$139.3M | -$196.6M | -$110.9M | -$48.2M | -$158.3M | $355.8M | $367.1M | $241.7M |
| Amortizaciones | $94.3M | $98.5M | $103.7M | $80.4M | $81.9M | $78.7M | $77.9M | $74.9M | $28.5M | $27.2M |
| Compensación en Acciones | $94.4M | $83.9M | $105.4M | $101.0M | $90.2M | $87.6M | $94.3M | $100.9M | $96.6M | $98.7M |
| Cambio en Capital Circulante | -$27.2M | -$4.9M | -$7.4M | $65.4M | $13.1M | -$25.5M | $12.7M | -$36.7M | -$98.2M | $119.1M |
| Flujo de Caja Operativo | -$63.8M | $19.2M | $99.3M | $72.1M | $82.8M | $101.7M | $21.0M | $401.4M | $439.1M | $520.8M |
| Inversiones (CapEx) | -$43.7M | -$51.3M | -$69.4M | -$90.9M | -$42.2M | -$29.0M | -$38.3M | -$48.0M | -$33.5M | -$40.4M |
| Adquisiciones | -$15.0M | $162000 | $507000 | -$8.0M | $2.8M | -$713000 | $485000 | 0 | $98.0M | $2.8M |
| Recompra de Acciones | -$13.5M | -$16.4M | -$19.6M | -$9.3M | -$7.7M | -$16.6M | -$18.2M | -$28.5M | -$200.3M | -$31.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$107.5M | -$32.1M | $29.9M | -$18.9M | $40.6M | $72.7M | -$17.2M | $353.3M | $405.6M | $480.3M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $101.7M | $170.1M | -$165.7M | $145.2M |
| Inversiones (CapEx) | -$17.3M | $20000 | -$4.1M | -$8.1M |
| Flujo de Caja Libre | $84.4M | $170.1M | -$169.8M | $137.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $24.7M | -$72.4M | 0 | $31.1M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +21.1% | +21.1% | +7.0% | -11.3% | +13.0% | -5.3% | +49.6% | -6.4% | -5.2% |
| Crecimiento Beneficio Neto (anual) | | +24.2% | +11.8% | -41.1% | +43.6% | +56.6% | -228.6% | +324.8% | +3.2% | -34.2% |
| Crecimiento BPA (anual) | | +25.4% | +12.6% | -38.9% | +44.0% | +57.1% | -223.3% | +320.6% | +3.7% | -33.8% |
| Cambio en Acciones (anual) | | +1.3% | +1.1% | +1.3% | +1.1% | +1.3% | +1.7% | +3.7% | -0.3% | -0.3% |
| Crecimiento FCF (anual) | | +70.1% | +193.0% | -163.2% | +315.3% | +79.0% | -123.7% | +2152.8% | +14.8% | +18.4% |
| Margen Bruto | 82.3% | 82.9% | 83.9% | 84.6% | 82.8% | 83.2% | 80.4% | 84.8% | 84.2% | 86.7% |
| Margen Operativo | -28.0% | -16.4% | -9.1% | -15.0% | -10.8% | 8.3% | -0.5% | 24.9% | 27.0% | 17.2% |
| Margen EBITDA | -14.1% | -3.6% | -0.7% | -8.8% | -0.6% | 15.1% | 5.4% | 31.2% | 31.8% | 22.4% |
| Margen Neto | -28.0% | -17.5% | -12.7% | -16.8% | -10.7% | -4.1% | -14.2% | 21.4% | 23.6% | 16.4% |
| Margen FCF | -14.4% | -3.6% | 2.7% | -1.6% | 3.9% | 6.2% | -1.5% | 21.2% | 26.0% | 32.5% |
| Tasa Impositiva Efectiva | 2.8% | -10.2% | -9.7% | 0.2% | -14.8% | 12.9% | -6.5% | -23.2% | 16.1% | 17.1% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.71 | $-0.21 | $0.19 | $-0.12 | $0.26 | $0.45 | $-0.11 | $2.08 | $2.40 | $2.85 |
| 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) | $151.5M | $153.4M | $155.1M | $157.1M | $158.8M | $160.9M | $163.7M | $166.2M | $165.4M | $164.7M |
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
| Margen bruto | 84.56% |
| Margen operativo | 7.03% |
| Margen neto | 3.97% |
Salud financiera
| Deuda / Patrimonio | 0.87 |
| Ratio corriente | 2.30 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -40.28 | -53.14 | -32.79 | -16.32 | -28.50 | -77.53 | -26.94 | 12.96 | 12.95 | 19.03 |
| P/VC | 6.96 | 6.98 | 3.91 | 2.95 | 2.97 | 3.36 | 4.10 | 3.83 | 3.25 | 2.53 |
| P/V | 11.29 | 9.29 | 4.18 | 2.74 | 3.05 | 3.19 | 3.85 | 2.77 | 3.05 | 3.12 |
| Margen Bruto | 82.3% | 82.9% | 83.9% | 84.6% | 82.8% | 83.2% | 80.4% | 84.8% | 84.2% | 86.7% |
| Margen Operativo | -28.0% | -16.4% | -9.1% | -15.0% | -10.8% | 8.3% | -0.5% | 24.9% | 27.0% | 17.2% |
| Margen Neto | -28.0% | -17.5% | -12.7% | -16.8% | -10.7% | -4.1% | -14.2% | 21.4% | 23.6% | 16.4% |