Estados financieros detallados de Anika Therapeutics, Inc. (ANIK): 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
Anika Therapeutics, Inc. registró ingresos de $112.8M en el último ejercicio fiscal, con un CAGR de 5 años del -2.9%.
Márgenes de los últimos 12 meses: margen bruto 62.2%, margen operativo -4.2%, margen neto -3.1%. El flujo de caja libre creció a un CAGR del -17.5% en 5 años.
Al precio actual de $21.03, ANIK presenta beneficios negativos (P/E no significativo) y un ROE del -2.70%. La capitalización bursátil es de $281M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $103.4M | $113.4M | $105.6M | $114.6M | $130.5M | $147.8M | $113.8M | $120.8M | $119.9M | $112.8M |
| Coste de Ventas | $24.0M | $27.4M | $31.3M | $28.7M | $61.4M | $64.9M | $40.6M | $38.3M | $43.9M | $49.0M |
| Beneficio Bruto | $79.4M | $86.1M | $74.3M | $85.9M | $69.0M | $82.9M | $73.2M | $82.5M | $76.0M | $63.8M |
| I+D | $10.7M | $18.8M | $18.2M | $16.7M | $23.4M | $27.3M | $18.3M | $21.8M | $25.5M | $25.8M |
| Generales y Administrativos | $18.0M | $21.5M | $34.3M | $35.0M | $60.1M | $74.1M | $51.2M | $59.9M | $55.6M | $49.1M |
| Gastos Operativos | $28.7M | $40.3M | $52.5M | $51.6M | $97.3M | $80.3M | $69.5M | $81.7M | $81.1M | $74.9M |
| Beneficio Operativo | $50.6M | $45.7M | $21.7M | $34.2M | -$28.3M | $2.6M | $3.7M | $844000 | -$5.1M | -$11.1M |
| EBITDA | $54.3M | $50.0M | $27.7M | $40.2M | -$1.0M | -$4.2M | $18.8M | $17.4M | $5.4M | -$3.6M |
| Gastos por Intereses | 0 | 0 | 0 | 0 | $800000 | | 0 | 0 | | 0 |
| Beneficio Antes de Impuestos | $50.9M | $46.2M | $23.2M | $36.1M | -$28.6M | $2.4M | $4.3M | $3.2M | -$2.8M | -$9.3M |
| Impuestos | $18.3M | $14.4M | $4.5M | $8.9M | -$4.6M | -$1.7M | $2.1M | $6.6M | $6.1M | $672000 |
| Beneficio Neto | $32.5M | $31.8M | $18.7M | $27.2M | -$24.0M | $4.1M | -$14.9M | -$82.7M | -$56.4M | -$10.9M |
| BPA | $2.22 | $2.18 | $1.30 | $1.93 | $-1.69 | $0.29 | $-1.02 | $-5.64 | $-3.83 | $-0.76 |
| BPA Diluido | $2.15 | $2.11 | $1.27 | $1.89 | $-1.69 | $0.28 | $-1.02 | $-5.64 | $-3.83 | $-0.76 |
| Acciones en Circulación (Diluidas) | $15.1M | $15.1M | $14.7M | $14.4M | $14.2M | $14.6M | $14.6M | $14.7M | $14.7M | $14.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $27.8M | $30.6M | $29.6M | $32.6M |
| Beneficio Bruto | $15.6M | $19.2M | $19.0M | $21.2M |
| Beneficio Operativo | -$3.2M | $646000 | -$5.5M | $3.0M |
| EBITDA | -$836000 | $2.1M | -$3.4M | $4.9M |
| Beneficio Neto | -$2.3M | $292000 | -$5.1M | $3.3M |
| BPA | $-0.16 | $0.02 | $-0.37 | $0.24 |
| BPA Diluido | $-0.16 | $0.02 | $-0.37 | $0.24 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $104.3M | $133.3M | $89.0M | $157.5M | $95.8M | $94.4M | $86.3M | $68.7M | $55.6M | $57.5M |
| Inversiones a Corto | $20.5M | $24.0M | $70.0M | $27.5M | $2.5M | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $27.6M | $23.8M | $20.8M | $23.1M | $24.1M | $29.8M | $34.6M | $26.4M | $23.6M | $23.7M |
| Inventario | $16.0M | $22.0M | $21.3M | $22.0M | $46.2M | $36.0M | $39.8M | $24.4M | $23.8M | $18.8M |
| Activos Corrientes | $170.4M | $206.3M | $202.9M | $234.3M | $177.4M | $168.5M | $169.5M | $163.3M | $113.7M | $103.4M |
| Inmovilizado Material | $52.3M | $56.2M | $54.1M | $73.6M | $73.2M | $68.6M | $79.0M | $65.0M | $64.7M | $66.3M |
| Fondo de Comercio | $7.2M | $8.2M | $7.9M | $7.7M | $8.4M | $7.8M | $7.3M | $7.6M | $7.1M | $8.1M |
| Activos Intangibles | $10.2M | $10.6M | $9.2M | $7.6M | $91.2M | $82.4M | $74.6M | $2.6M | $2.5M | $1.6M |
| Activos Totales | $240.2M | $282.6M | $279.0M | $330.7M | $365.6M | $347.5M | $349.1M | $270.6M | $202.7M | $190.3M |
| Cuentas por Pagar | $2.3M | $6.7M | $3.1M | $3.8M | $9.0M | $7.6M | $9.1M | $6.2M | $5.6M | $6.0M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $8.8M | $13.1M | $11.3M | $16.3M | $36.9M | $29.8M | $27.9M | $31.1M | $23.3M | $21.9M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $24.2M |
| Pasivos Totales | $17.5M | $19.1M | $15.4M | $42.3M | $93.2M | $60.5M | $63.6M | $58.4M | $48.8M | $46.8M |
| Reservas | $168.2M | $199.5M | $218.2M | $245.4M | $221.4M | $225.6M | $210.7M | $128.1M | $71.7M | $60.8M |
| Patrimonio Neto | $222.8M | $263.5M | $263.6M | $288.4M | $272.4M | $287.1M | $285.6M | $212.3M | $154.0M | $143.5M |
| Deuda Total | 0 | 0 | 0 | $22.5M | $22.5M | $21.0M | $30.9M | $27.7M | $25.9M | $26.2M |
| Deuda Neta | -$124.8M | -$157.3M | -$159.0M | -$162.4M | -$75.9M | -$73.4M | -$55.4M | -$41.0M | -$29.7M | -$31.2M |
| Capital Circulante | $161.6M | $193.3M | $191.7M | $218.0M | $140.5M | $138.7M | $141.6M | $132.2M | $90.3M | $81.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $58.0M | $57.5M | $41.0M | $38.4M |
| Activos Totales | $189.4M | $190.3M | $179.4M | $183.5M |
| Pasivos Totales | $42.6M | $46.8M | $45.5M | $46.2M |
| Patrimonio Neto | $146.8M | $143.5M | $133.9M | $137.3M |
| Deuda Total | $24.5M | $26.2M | $25.7M | $23.3M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $32.5M | $31.8M | $18.7M | $27.2M | -$24.0M | $4.1M | -$14.9M | -$82.7M | -$56.4M | -$10.9M |
| Amortizaciones | $3.7M | $4.3M | $5.9M | $6.0M | $15.0M | $14.3M | $14.5M | $14.2M | $8.1M | $5.7M |
| Compensación en Acciones | $3.4M | $5.8M | $11.0M | $6.1M | 0 | $11.1M | $14.3M | $15.2M | $13.1M | $10.1M |
| Cambio en Capital Circulante | -$15.9M | -$2.4M | -$3.2M | -$6.6M | -$13.5M | -$14.7M | -$11.8M | -$12.1M | -$13.1M | -$823000 |
| Flujo de Caja Operativo | $23.8M | $40.8M | $34.9M | $37.0M | $13.1M | $8.4M | $4.4M | -$1.8M | $5.4M | $11.2M |
| Inversiones (CapEx) | -$14.0M | -$9.0M | -$4.7M | -$2.8M | -$1.6M | -$5.1M | -$7.5M | -$5.4M | -$7.7M | -$6.8M |
| Adquisiciones | 0 | 0 | 0 | -$42.5M | -$94.6M | -$476000 | 0 | 0 | 0 | $9.0M |
| Recompra de Acciones | -$25.0M | 0 | -$30.0M | -$30.0M | 0 | 0 | 0 | -$5.0M | -$10.9M | -$9.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $9.8M | $31.8M | $30.3M | $34.2M | $11.4M | $3.3M | -$3.1M | -$7.2M | -$2.3M | $4.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $6.9M | $4.6M | -$4.8M | -$684000 |
| Inversiones (CapEx) | -$1.9M | -$648000 | -$1.4M | -$1.4M |
| Flujo de Caja Libre | $5.0M | $4.0M | -$6.3M | -$2.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.2M | $2.5M | $6.6M | $1.8M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +9.7% | -6.9% | +8.6% | +13.8% | +13.3% | -23.0% | +6.1% | -0.7% | -5.9% |
| Crecimiento Beneficio Neto (anual) | | -2.2% | -41.2% | +45.2% | -188.2% | +117.2% | -459.4% | -456.3% | +31.8% | +80.7% |
| Crecimiento BPA (anual) | | -1.8% | -40.4% | +48.5% | -187.6% | +117.2% | -451.7% | -452.9% | +32.1% | +80.2% |
| Cambio en Acciones (anual) | | -0.3% | -2.5% | -2.1% | -1.1% | +2.9% | -0.5% | +0.7% | +0.4% | -2.6% |
| Crecimiento FCF (anual) | | +225.2% | -4.9% | +12.9% | -66.5% | -71.5% | -194.6% | -134.5% | +67.7% | +287.1% |
| Margen Bruto | 76.8% | 75.9% | 70.4% | 74.9% | 52.9% | 56.1% | 64.3% | 68.3% | 63.4% | 56.6% |
| Margen Operativo | 49.0% | 40.3% | 20.6% | 29.9% | -21.7% | 1.8% | 3.2% | 0.7% | -4.3% | -9.8% |
| Margen EBITDA | 52.6% | 44.1% | 26.2% | 35.1% | -0.8% | -2.8% | 16.5% | 14.4% | 4.5% | -3.2% |
| Margen Neto | 31.5% | 28.1% | 17.7% | 23.7% | -18.4% | 2.8% | -13.1% | -68.4% | -47.0% | -9.6% |
| Margen FCF | 9.5% | 28.1% | 28.7% | 29.8% | 8.8% | 2.2% | -2.7% | -6.0% | -1.9% | 3.9% |
| Tasa Impositiva Efectiva | 36.0% | 31.1% | 19.3% | 24.7% | 16.2% | -70.3% | 49.1% | 209.0% | -219.4% | -7.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.65 | $2.11 | $2.06 | $2.38 | $0.80 | $0.22 | $-0.21 | $-0.49 | $-0.16 | $0.30 |
| 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) | $14.7M | $14.6M | $14.4M | $14.1M | $14.2M | $14.4M | $14.6M | $14.7M | $14.7M | $14.3M |
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 | -2.70% |
| Rentabilidad sobre capital invertido | -3.17% |
| Rentabilidad sobre activos | -2.06% |
| Margen bruto | 62.16% |
| Margen operativo | -4.24% |
| Margen neto | -3.14% |
Salud financiera
| Deuda / Patrimonio | 0.17 |
| Ratio corriente | 4.48 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 22.05 | 24.73 | 25.85 | 26.87 | -26.78 | 123.55 | -29.02 | -4.02 | -4.30 | -12.64 |
| P/VC | 3.23 | 2.98 | 1.84 | 2.54 | 2.36 | 1.80 | 1.51 | 1.56 | 1.57 | 0.96 |
| P/V | 6.95 | 6.93 | 4.60 | 6.39 | 4.93 | 3.49 | 3.79 | 2.75 | 2.02 | 1.22 |
| Margen Bruto | 76.8% | 75.9% | 70.4% | 74.9% | 52.9% | 56.1% | 64.3% | 68.3% | 63.4% | 56.6% |
| Margen Operativo | 49.0% | 40.3% | 20.6% | 29.9% | -21.7% | 1.8% | 3.2% | 0.7% | -4.3% | -9.8% |
| Margen Neto | 31.5% | 28.1% | 17.7% | 23.7% | -18.4% | 2.8% | -13.1% | -68.4% | -47.0% | -9.6% |