Estados financieros detallados de Armata Pharmaceuticals, Inc. (ARMP): 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
Armata Pharmaceuticals, Inc. registró ingresos de $4.9M en el último ejercicio fiscal, con un CAGR de 5 años del 42.9%.
Márgenes de los últimos 12 meses: margen bruto 68.2%, margen operativo -12.3%, margen neto -58.3%.
Al precio actual de $4.07, ARMP presenta beneficios negativos (P/E no significativo) y un ROE del 89.70%. La capitalización bursátil es de $149M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $260000 | $115000 | 0 | 0 | $823000 | $4.5M | $5.5M | $4.5M | $5.2M | $4.9M |
| Coste de Ventas | $369000 | $374000 | $1.4M | $1.4M | $14.4M | $20.0M | $35.0M | $972000 | $34.4M | $1.5M |
| Beneficio Bruto | -$109000 | -$259000 | -$1.4M | -$1.4M | -$13.6M | -$15.5M | -$29.5M | $3.6M | -$29.3M | $3.4M |
| I+D | $5.7M | $2.9M | $4.9M | $9.8M | $14.4M | $20.0M | $35.0M | $33.8M | $34.4M | $23.7M |
| Generales y Administrativos | $8.4M | $7.6M | $5.7M | $7.9M | $8.0M | $8.3M | $7.4M | $10.7M | $13.2M | $12.4M |
| Gastos Operativos | $23.6M | $16.3M | $9.5M | $17.7M | $8.0M | $8.3M | $7.4M | $44.4M | $13.2M | $34.6M |
| Beneficio Operativo | -$23.4M | -$16.2M | -$12.5M | -$19.1M | -$21.6M | -$23.8M | -$36.9M | -$40.9M | -$42.4M | -$31.2M |
| EBITDA | -$13.5M | -$10.0M | -$9.5M | -$17.2M | -$20.4M | -$21.9M | -$36.0M | -$65.4M | -$6.8M | -$155.7M |
| Gastos por Intereses | 0 | 0 | 0 | $931000 | $628000 | $64000 | $29000 | $2.6M | $10.7M | $16.6M |
| Beneficio Antes de Impuestos | -$19.4M | -$14.1M | -$16.7M | -$19.5M | -$22.2M | -$23.2M | -$36.9M | -$69.0M | -$18.9M | -$173.8M |
| Impuestos | -$556000 | -$1.3M | -$328000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$18.8M | -$12.8M | -$12.1M | -$19.5M | -$22.2M | -$23.2M | -$36.9M | -$69.0M | -$18.9M | -$173.8M |
| BPA | $-345.80 | $-28.14 | $-8.90 | $-2.43 | $-1.35 | $-0.96 | $-1.08 | $-1.91 | $-0.52 | $-4.80 |
| BPA Diluido | $-345.80 | $-27.34 | $-8.90 | $-2.43 | $-1.35 | $-0.96 | $-1.08 | $-1.91 | $-0.52 | $-4.80 |
| Acciones en Circulación (Diluidas) | $7027 | $456244 | $332341 | $7.8M | $16.4M | $24.1M | $34.3M | $36.1M | $36.2M | $36.2M |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $5.7M | $5.1M | $8.2M | $6.0M | $9.6M | $10.3M | $14.9M | $13.5M | $9.3M | $8.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $25000 | 0 | 0 | 0 | $561000 | $3.0M | $8.5M | $3.4M | $744000 | $472000 |
| Inventario | -$619000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $6.4M | $5.4M | $8.4M | $6.7M | $10.8M | $15.0M | $27.0M | $19.2M | $11.3M | $10.7M |
| Inmovilizado Material | $1.1M | $816000 | $503000 | $4.2M | $12.8M | $38.1M | $46.7M | $57.3M | $54.9M | $46.1M |
| Fondo de Comercio | 0 | 0 | 0 | $3.5M | $3.5M | $3.5M | $3.5M | $3.5M | $3.5M | $3.5M |
| Activos Intangibles | $10.8M | $4.9M | $3.0M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M | $10.3M |
| Activos Totales | $18.2M | $11.1M | $11.9M | $25.5M | $39.5M | $69.8M | $107.9M | $98.4M | $86.4M | $76.9M |
| Cuentas por Pagar | $1.1M | $578000 | $729000 | $547000 | $956000 | $1.1M | $1.7M | $1.6M | $766000 | $921000 |
| Deuda a Corto | $803000 | 0 | 0 | $1.3M | $722000 | 0 | 0 | 0 | $39.0M | 0 |
| Pasivos Corrientes | $3.6M | $2.0M | $2.6M | $4.9M | $6.7M | $4.8M | $24.9M | $16.5M | $48.2M | $8.9M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $82.3M | $55.4M | $256.9M |
| Pasivos Totales | $8.5M | $3.4M | $3.4M | $10.9M | $20.7M | $44.4M | $71.8M | $130.4M | $134.5M | $295.5M |
| Reservas | -$381.4M | -$394.2M | -$406.3M | -$157.5M | -$179.7M | -$202.9M | -$239.8M | -$308.8M | -$327.7M | -$501.5M |
| Patrimonio Neto | $9.7M | $7.7M | $8.5M | $14.6M | $18.9M | $25.4M | $36.1M | -$32.1M | -$48.0M | -$218.6M |
| Deuda Total | $803000 | 0 | 0 | $2.9M | $13.2M | $38.0M | $48.8M | $120.4M | $126.5M | $288.0M |
| Deuda Neta | -$4.9M | -$5.1M | -$8.2M | -$3.2M | $3.5M | $27.7M | $34.0M | $106.8M | $117.2M | $279.3M |
| Capital Circulante | $2.8M | $3.4M | $5.8M | $1.8M | $4.1M | $10.2M | $2.2M | $2.7M | -$36.9M | $1.7M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | -$18.8M | -$12.8M | -$12.1M | -$19.5M | -$22.2M | -$23.2M | -$36.9M | -$69.0M | -$18.9M | -$173.8M |
| Amortizaciones | $369000 | $374000 | $389000 | $1.4M | $1.1M | $1.2M | $892000 | $972000 | $1.3M | $1.5M |
| Compensación en Acciones | $2.0M | $700000 | $478000 | $4.3M | $3.5M | $2.9M | $3.1M | $938000 | $2.9M | $2.6M |
| Cambio en Capital Circulante | $670000 | -$457000 | $345000 | -$2.2M | -$874000 | -$3.2M | $439000 | -$9.6M | -$2.1M | -$1.4M |
| Flujo de Caja Operativo | -$10.6M | -$9.2M | -$9.4M | -$15.6M | -$18.3M | -$23.6M | -$32.5M | -$47.4M | -$37.6M | -$25.8M |
| Inversiones (CapEx) | -$279000 | -$58000 | -$44000 | -$131000 | -$824000 | -$1.3M | -$2.2M | -$8.1M | -$1.9M | -$542000 |
| Adquisiciones | 0 | 0 | $65000 | $3.0M | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | -$80000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$10.9M | -$9.2M | -$9.4M | -$15.7M | -$19.1M | -$24.9M | -$34.7M | -$55.6M | -$39.4M | -$26.3M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | -55.8% | -100.0% | +443.6% | +23.1% | -17.8% | +14.2% | -5.2% | |||
| Crecimiento Beneficio Neto (anual) | +31.9% | +5.7% | -60.9% | -13.9% | -4.4% | -59.4% | -87.0% | +72.6% | -818.8% | |
| Crecimiento BPA (anual) | +91.9% | +68.4% | +72.7% | +44.4% | +28.9% | -12.5% | -76.9% | +72.8% | -823.1% | |
| Cambio en Acciones (anual) | +6392.7% | -27.2% | +2255.2% | +109.7% | +46.8% | +42.3% | +5.2% | +0.2% | +0.2% | |
| Crecimiento FCF (anual) | +14.9% | -1.9% | -66.7% | -21.5% | -30.3% | -39.4% | -60.2% | +29.0% | +33.3% | |
| Margen Bruto | -41.9% | -225.2% | -1655.0% | -347.4% | -535.7% | 78.5% | -565.4% | 68.8% | ||
| Margen Operativo | -8991.5% | -14048.7% | -2623.0% | -532.5% | -670.8% | -902.8% | -820.2% | -636.7% | ||
| Margen EBITDA | -5177.7% | -8680.0% | -2483.5% | -490.0% | -653.5% | -1445.1% | -132.4% | -3174.5% | ||
| Margen Neto | -7245.4% | -11163.5% | -2695.1% | -517.5% | -670.2% | -1524.5% | -365.6% | -3544.0% | ||
| Margen FCF | -4180.0% | -8043.5% | -2320.0% | -556.1% | -629.8% | -1226.9% | -762.1% | -536.4% | ||
| Tasa Impositiva Efectiva | 2.9% | 9.2% | 2.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $-1546.61 | $-20.27 | $-28.36 | $-2.01 | $-1.16 | $-1.03 | $-1.01 | $-1.54 | $-1.09 | $-0.73 |
| Dividendo por Acción | $11.38 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $7027 | $456244 | $332341 | $7.8M | $16.4M | $24.1M | $34.3M | $36.1M | $36.2M | $36.2M |
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 | 89.70% |
| Rentabilidad sobre capital invertido | -47.40% |
| Rentabilidad sobre activos | -213.65% |
| Margen bruto | 68.23% |
| Margen operativo | -1233.59% |
| Margen neto | -5825.34% |
Salud financiera
| Deuda / Patrimonio | -1.36 |
| Ratio corriente | 0.11 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | -0.18 | -0.50 | -0.32 | -1.34 | -2.21 | -5.71 | -1.15 | -1.70 | -3.56 | -1.31 |
| P/VC | 0.04 | 0.83 | 0.11 | 1.74 | 2.60 | 5.20 | 1.18 | -3.65 | -1.39 | -1.04 |
| P/V | 1.66 | 56.10 | 0.00 | 0.00 | 59.53 | 29.52 | 7.72 | 25.81 | 12.93 | 46.41 |
| Margen Bruto | -41.9% | -225.2% | 0.0% | 0.0% | -1655.0% | -347.4% | -535.7% | 78.5% | -565.4% | 68.8% |
| Margen Operativo | -8991.5% | -14048.7% | 0.0% | 0.0% | -2623.0% | -532.5% | -670.8% | -902.8% | -820.2% | -636.7% |
| Margen Neto | -7245.4% | -11163.5% | 0.0% | 0.0% | -2695.1% | -517.5% | -670.2% | -1524.5% | -365.6% | -3544.0% |
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