Estados financieros detallados de Baird Medical Investment Holdings Limited (BDMD): 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
Baird Medical Investment Holdings Limited registró ingresos de $22.5M en el último ejercicio fiscal, con un CAGR de 5 años del 4.5%.
Márgenes de los últimos 12 meses: margen bruto 85.6%, margen operativo -58.5%, margen neto -65.2%.
Al precio actual de $1.06, BDMD presenta beneficios negativos (P/E no significativo) y un ROE del -48.29%. La capitalización bursátil es de $45M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $12.2M | $18.1M | $27.7M | $35.1M | $31.5M | $37.0M | $22.5M |
| Coste de Ventas | $1.3M | $2.5M | $4.5M | $7.1M | $4.2M | $4.4M | $3.7M |
| Beneficio Bruto | $10.9M | $15.6M | $23.2M | $28.0M | $27.2M | $32.7M | $18.9M |
| I+D | $1.2M | $750482 | $1.0M | $3.9M | $4.3M | $6.2M | $20.1M |
| Generales y Administrativos | $4.1M | $5.0M | $10.2M | $10.5M | $11.1M | $10.0M | $24.4M |
| Gastos Operativos | $5.3M | $5.7M | $9.8M | $13.0M | $15.4M | $17.3M | $44.4M |
| Beneficio Operativo | $5.6M | $9.9M | $11.9M | $13.6M | $11.9M | $15.3M | -$25.5M |
| EBITDA | $5.8M | $10.3M | $14.2M | $16.3M | $12.9M | $16.2M | -$24.5M |
| Gastos por Intereses | $89618 | $159471 | $153921 | $299269 | $284271 | $576752 | $737370 |
| Beneficio Antes de Impuestos | -$5.8M | $9.6M | $12.6M | $14.5M | $12.4M | $14.1M | -$26.4M |
| Impuestos | $1.3M | $2.4M | $2.4M | $1.7M | $1.7M | $1.5M | $1.2M |
| Beneficio Neto | -$7.2M | $7.1M | $11.7M | $12.6M | $10.5M | $12.5M | -$27.3M |
| BPA | $-1.00 | $0.99 | $1.40 | $0.02 | $0.41 | $0.49 | $-0.98 |
| BPA Diluido | $-1.00 | $0.99 | $1.40 | $0.02 | $0.41 | $0.49 | $-0.98 |
| Acciones en Circulación (Diluidas) | $7.2M | $7.2M | $7.2M | $7.2M | $7.6M | $25.6M | $27.8M |
Cuenta de Resultados (Trimestral)
| Año | 2024-Q4 | 2025-Q2 | 2025-Q4 | 2026-Q2 |
|---|
| Ingresos | $23.9M | $8.0M | $14.6M | $9.9M |
| Beneficio Bruto | $21.2M | $6.5M | $12.3M | $8.6M |
| Beneficio Operativo | $10.2M | -$10.5M | -$15.2M | $846806 |
| EBITDA | $10.8M | -$9.7M | -$14.6M | $1.5M |
| Beneficio Neto | $8.1M | -$11.3M | -$16.0M | $13499 |
| BPA | $0.38 | $-0.43 | $-0.55 | $0.00 |
| BPA Diluido | $0.38 | $-0.43 | $-0.55 | $0.00 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $220454 | $1.1M | $3.0M | $1.7M | $1.5M | $3.0M | $178321 |
| Inversiones a Corto | $36622 | $65106 | $407502 | $197000 | $120485 | 0 | 0 |
| Cuentas por Cobrar | $4.6M | $8.2M | $12.4M | $24.8M | $31.5M | $46.6M | $42.5M |
| Inventario | $709474 | $810073 | $3.1M | $1.3M | $1.1M | $1.3M | $1.1M |
| Activos Corrientes | $8.7M | $13.1M | $22.4M | $33.8M | $40.1M | $61.4M | $55.0M |
| Inmovilizado Material | $1.7M | $2.8M | $3.3M | $2.7M | $7.0M | $7.6M | $6.5M |
| Fondo de Comercio | $60606 | $64646 | $66173 | $61140 | $59375 | $57772 | $60303 |
| Activos Intangibles | $143618 | $107233 | $62768 | $49481 | $25479 | $16527 | $8626 |
| Activos Totales | $11.8M | $17.0M | $26.1M | $42.6M | $56.7M | $78.0M | $69.7M |
| Cuentas por Pagar | $100245 | $61123 | $340212 | $215863 | $550188 | $1.3M | $1.8M |
| Deuda a Corto | $28.1M | $2.4M | $2.0M | $6.2M | $8.2M | $17.0M | $13.1M |
| Pasivos Corrientes | $33.6M | $9.3M | $9.8M | $16.0M | $19.0M | $34.6M | $32.4M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | $3.4M | $6.1M |
| Pasivos Totales | $34.3M | $10.3M | $10.3M | $16.8M | $21.0M | $38.2M | $38.5M |
| Reservas | -$15.7M | -$9.6M | -$7.1M | $4.0M | $14.4M | $26.8M | -$515415 |
| Patrimonio Neto | -$21.9M | $7.2M | $5.2M | $25.9M | $35.8M | $39.7M | $31.4M |
| Deuda Total | $28.9M | $4.1M | $2.9M | $7.4M | $9.9M | $20.9M | $19.3M |
| Deuda Neta | $28.7M | $2.9M | -$505103 | $5.5M | $8.3M | $17.9M | $19.1M |
| Capital Circulante | -$24.9M | $3.8M | $12.6M | $17.7M | $21.1M | $26.8M | $22.6M |
Balance (Trimestral)
| Año | 2024-Q4 | 2025-Q2 | 2025-Q4 | 2026-Q2 |
|---|
| Caja y Equivalentes | $3.0M | $2.2M | $178321 | $289083 |
| Activos Totales | $78.0M | $77.0M | $69.7M | $73.8M |
| Pasivos Totales | $38.2M | $41.4M | $38.5M | $39.2M |
| Patrimonio Neto | $39.7M | $35.6M | $31.4M | $34.8M |
| Deuda Total | $20.9M | $22.6M | $19.3M | $14.2M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$7.2M | $7.1M | $10.2M | $12.8M | $10.5M | $12.6M | -$27.5M |
| Amortizaciones | $638096 | $1.1M | $1.4M | $1.5M | $1.4M | $1.5M | $1.1M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | $17.5M |
| Cambio en Capital Circulante | -$2.0M | -$3.6M | -$6.6M | -$14.0M | -$14.1M | -$21.7M | $6.8M |
| Flujo de Caja Operativo | $4.4M | $3.9M | $5.3M | $485968 | -$1.0M | -$6.3M | -$1.3M |
| Inversiones (CapEx) | -$983785 | -$655350 | -$1.4M | -$6.0M | -$2.6M | -$2.9M | -$42315 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | -$5.4M | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $3.4M | $3.3M | $3.9M | -$5.5M | -$3.7M | -$9.2M | -$1.4M |
Flujo de Caja (Trimestral)
| Año | 2024-Q4 | 2025-Q2 | 2025-Q4 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$2.4M | -$3.2M | $1.9M | 0 |
| Inversiones (CapEx) | -$2.4M | -$44605 | $2297 | 0 |
| Flujo de Caja Libre | -$4.7M | -$3.2M | $1.9M | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | $2.4M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +48.4% | +53.0% | +26.6% | -10.4% | +17.7% | -39.2% |
| Crecimiento Beneficio Neto (anual) | | +198.8% | +64.5% | +7.6% | -16.1% | +18.1% | -319.0% |
| Crecimiento BPA (anual) | | +198.8% | +41.7% | -98.4% | +1789.4% | +19.5% | -300.0% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | +0.0% | +5.5% | +237.9% | +8.4% |
| Crecimiento FCF (anual) | | -5.1% | +18.9% | -241.4% | +33.1% | -150.6% | +84.9% |
| Margen Bruto | 89.4% | 86.1% | 83.6% | 79.9% | 86.6% | 88.2% | 83.8% |
| Margen Operativo | 45.9% | 54.4% | 43.0% | 38.8% | 37.7% | 41.4% | -113.3% |
| Margen EBITDA | 47.9% | 56.7% | 51.1% | 46.4% | 40.9% | 43.7% | -108.9% |
| Margen Neto | -58.8% | 39.2% | 42.1% | 35.8% | 33.5% | 33.6% | -121.0% |
| Margen FCF | 28.1% | 17.9% | 14.0% | -15.6% | -11.6% | -24.8% | -6.2% |
| Tasa Impositiva Efectiva | -22.0% | 25.3% | 19.2% | 12.0% | 13.8% | 10.6% | -4.4% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $0.48 | $0.45 | $0.54 | $-0.76 | $-0.48 | $-0.36 | $-0.05 |
| Dividendo por Acción | $0.00 | $0.00 | $0.75 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $7.2M | $7.2M | $7.2M | $6.3M | $7.6M | $25.6M | $27.8M |
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 | -48.29% |
| Rentabilidad sobre capital invertido | -26.96% |
| Rentabilidad sobre activos | -21.63% |
| Margen bruto | 85.63% |
| Margen operativo | -58.52% |
| Margen neto | -65.20% |
Salud financiera
| Deuda / Patrimonio | 0.41 |
| Ratio corriente | 1.29 |
| Piotroski F-Score | 1 |
| Altman Z-Score | 0.08 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -9.67 | 9.79 | 7.04 | 472.81 | 26.12 | 15.51 | -1.39 |
| P/VC | -3.17 | 9.64 | 13.62 | 2.49 | 2.27 | 4.90 | 1.21 |
| P/V | 5.69 | 3.84 | 2.56 | 1.84 | 2.58 | 5.24 | 1.68 |
| Margen Bruto | 89.4% | 86.1% | 83.6% | 79.9% | 86.6% | 88.2% | 83.8% |
| Margen Operativo | 45.9% | 54.4% | 43.0% | 38.8% | 37.7% | 41.4% | -113.3% |
| Margen Neto | -58.8% | 39.2% | 42.1% | 35.8% | 33.5% | 33.6% | -121.0% |