Estados financieros detallados de Biodesix, Inc. (BDSX): 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
Biodesix, Inc. registró ingresos de $88.5M en el último ejercicio fiscal, con un CAGR de 5 años del 14.2%.
Márgenes de los últimos 12 meses: margen bruto 82.5%, margen operativo -20.0%, margen neto -27.0%.
Al precio actual de $28.56, BDSX presenta beneficios negativos (P/E no significativo) y un ROE del -7.88%. La capitalización bursátil es de $232M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $20.4M | $24.6M | $45.6M | $54.5M | $38.2M | $49.1M | $71.3M | $88.5M |
| Coste de Ventas | $4.4M | $6.1M | $22.0M | $30.5M | $14.2M | $13.0M | $15.6M | $16.7M |
| Beneficio Bruto | $16.0M | $18.5M | $23.6M | $24.0M | $24.1M | $36.1M | $55.8M | $71.8M |
| I+D | $8.2M | $10.5M | $10.8M | $12.8M | $13.1M | $10.0M | $9.6M | $12.0M |
| Generales y Administrativos | $25.9M | $30.6M | $34.9M | $50.5M | $61.5M | $67.4M | $80.5M | $87.5M |
| Gastos Operativos | $34.1M | $45.2M | $46.5M | $64.9M | $74.6M | $77.4M | $90.2M | $99.5M |
| Beneficio Operativo | -$23.5M | -$26.7M | -$22.9M | -$40.9M | -$50.6M | -$41.3M | -$34.5M | -$27.8M |
| EBITDA | -$21.5M | -$24.9M | -$20.8M | -$35.5M | -$51.5M | -$37.1M | -$29.2M | -$21.9M |
| Gastos por Intereses | $2.9M | $3.0M | $7.6M | $4.5M | $8.1M | $9.5M | $8.3M | $7.7M |
| Beneficio Antes de Impuestos | -$26.2M | -$30.7M | -$31.4M | -$43.2M | -$65.4M | -$52.1M | -$42.9M | -$35.3M |
| Impuestos | $211000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$26.2M | -$30.7M | -$31.4M | -$43.2M | -$65.4M | -$52.1M | -$42.9M | -$35.3M |
| BPA | $-19.72 | $-2410.66 | $-23.61 | $-31.54 | $-31.09 | $-12.70 | $-6.62 | $-4.67 |
| BPA Diluido | $-19.72 | $-2410.66 | $-23.61 | $-31.54 | $-31.09 | $-12.70 | $-6.62 | $-4.67 |
| Acciones en Circulación (Diluidas) | $1.3M | $1.3M | $1.3M | $1.4M | $2.1M | $4.1M | $6.5M | $7.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $21.8M | $28.8M | $25.6M | $26.9M |
| Beneficio Bruto | $17.7M | $23.9M | $21.4M | $22.0M |
| Beneficio Operativo | -$7.0M | -$2.0M | -$6.2M | -$5.4M |
| EBITDA | -$5.3M | -$515000 | -$4.4M | -$4.1M |
| Beneficio Neto | -$8.7M | -$4.0M | -$7.8M | -$7.3M |
| BPA | $-1.16 | $-0.49 | $-0.81 | $-0.71 |
| BPA Diluido | $-1.16 | $-0.49 | $-0.81 | $-0.71 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5.9M | $5.3M | $62.1M | $32.7M | $43.1M | $26.3M | $26.2M | $19.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.9M | $5.3M | $15.3M | $3.7M | $5.1M | $7.7M | $8.6M | $9.0M |
| Inventario | $700000 | $800000 | $3.2M | $2.9M | $1.4M | $1.4M | 0 | 0 |
| Activos Corrientes | $9.9M | $12.7M | $86.1M | $43.6M | $53.3M | $39.7M | $39.5M | $32.5M |
| Inmovilizado Material | $1.4M | $2.1M | $3.2M | $4.2M | $8.8M | $29.6M | $29.6M | $27.8M |
| Fondo de Comercio | $10.8M | $11.6M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M | $15.0M |
| Activos Intangibles | $16.9M | $15.1M | $13.3M | $11.6M | $9.8M | $7.9M | $5.9M | $3.9M |
| Activos Totales | $39.1M | $41.6M | $121.1M | $76.1M | $92.9M | $99.1M | $97.2M | $87.5M |
| Cuentas por Pagar | $886000 | $1.7M | $9.0M | $1.7M | $1.7M | $2.9M | $2.2M | $3.1M |
| Deuda a Corto | 0 | $12.2M | $11.8M | $19000 | $49000 | $51000 | $21000 | $6000 |
| Pasivos Corrientes | $4.5M | $22.6M | $32.1M | $29.0M | $22.8M | $33.4M | $14.3M | $17.4M |
| Deuda a Largo | $23.1M | $23.8M | $15.9M | $10.0M | $25.0M | $35.2M | $36.4M | $47.4M |
| Pasivos Totales | $237.1M | $270.2M | $79.9M | $56.4M | $72.3M | $94.5M | $76.4M | $89.9M |
| Reservas | -$200.1M | -$230.9M | -$258.8M | -$302.0M | -$367.4M | -$419.6M | -$462.5M | -$497.8M |
| Patrimonio Neto | -$198.0M | -$228.5M | $41.2M | $19.7M | $20.6M | $4.6M | $20.9M | -$2.5M |
| Deuda Total | $23.1M | $36.0M | $27.8M | $10.0M | $31.9M | $60.7M | $62.0M | $72.9M |
| Deuda Neta | $17.2M | $30.7M | -$34.4M | -$22.7M | -$11.2M | $34.4M | $35.7M | $53.9M |
| Capital Circulante | $5.4M | -$9.9M | $54.0M | $14.7M | $30.5M | $6.3M | $25.2M | $15.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $16.7M | $19.0M | $25.6M | $30.0M |
| Activos Totales | $88.7M | $87.5M | $94.6M | $95.3M |
| Pasivos Totales | $90.4M | $89.9M | $85.5M | $86.2M |
| Patrimonio Neto | -$1.7M | -$2.5M | $9.1M | $9.1M |
| Deuda Total | $72.9M | $72.9M | $71.6M | $71.8M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$26.2M | -$30.7M | -$31.4M | -$43.2M | -$65.4M | -$52.1M | -$42.9M | -$35.3M |
| Amortizaciones | $1.7M | $2.8M | $2.9M | $3.2M | $5.8M | $5.5M | $5.5M | $5.6M |
| Compensación en Acciones | $142000 | $170000 | $3.7M | $4.9M | $6.0M | $5.4M | $6.6M | $4.1M |
| Cambio en Capital Circulante | $253000 | -$1.6M | -$4.8M | $4.6M | -$4.3M | $11.3M | -$21.7M | $334000 |
| Flujo de Caja Operativo | -$17.7M | -$21.7M | -$21.4M | -$28.2M | -$45.0M | -$22.9M | -$48.6M | -$23.3M |
| Inversiones (CapEx) | -$617000 | -$1.3M | -$2.2M | -$2.5M | -$3.5M | -$23.1M | -$3.2M | -$403000 |
| Adquisiciones | 0 | -$456000 | -$750000 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$18.3M | -$23.0M | -$23.5M | -$30.8M | -$48.5M | -$45.9M | -$51.9M | -$23.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$8.9M | $778000 | -$10.2M | -$1.6M |
| Inversiones (CapEx) | -$67000 | -$104000 | -$144000 | -$254000 |
| Flujo de Caja Libre | -$8.9M | $674000 | -$10.3M | -$1.8M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.1M | $1.1M | $1.1M | $820000 |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +20.2% | +85.6% | +19.6% | -29.9% | +28.5% | +45.3% | +24.1% |
| Crecimiento Beneficio Neto (anual) | | -17.4% | -2.0% | -37.7% | -51.6% | +20.3% | +17.7% | +17.9% |
| Crecimiento BPA (anual) | | -12124.4% | +99.0% | -33.6% | +1.4% | +59.2% | +47.9% | +29.5% |
| Cambio en Acciones (anual) | | +0.1% | +0.0% | +3.0% | +53.9% | +95.0% | +57.9% | +16.5% |
| Crecimiento FCF (anual) | | -25.9% | -2.2% | -30.7% | -57.6% | +5.3% | -12.9% | +54.4% |
| Margen Bruto | 78.4% | 75.3% | 51.7% | 44.0% | 63.0% | 73.5% | 78.2% | 81.1% |
| Margen Operativo | -114.8% | -108.9% | -50.3% | -75.1% | -132.4% | -84.2% | -48.4% | -31.4% |
| Margen EBITDA | -105.3% | -101.5% | -45.8% | -65.1% | -134.9% | -75.6% | -41.0% | -24.8% |
| Margen Neto | -128.1% | -125.1% | -68.8% | -79.2% | -171.3% | -106.2% | -60.2% | -39.8% |
| Margen FCF | -89.5% | -93.8% | -51.7% | -56.5% | -126.9% | -93.6% | -72.7% | -26.8% |
| Tasa Impositiva Efectiva | -0.8% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-13.79 | $-17.35 | $-17.73 | $-22.49 | $-23.04 | $-11.19 | $-8.00 | $-3.14 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $1.3M | $1.3M | $1.3M | $1.4M | $2.1M | $4.1M | $6.5M | $7.6M |
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 | -788.19% |
| Rentabilidad sobre capital invertido | -25.22% |
| Rentabilidad sobre activos | -29.12% |
| Margen bruto | 82.50% |
| Margen operativo | -20.01% |
| Margen neto | -26.97% |
Salud financiera
| Deuda / Patrimonio | 7.85 |
| Ratio corriente | 2.85 |
| Piotroski F-Score | 4 |
| Altman Z-Score | -7.45 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -12.99 | -0.11 | -17.08 | -3.35 | -1.48 | -2.90 | -4.62 | -1.46 |
| P/VC | -1.72 | -1.49 | 13.01 | 7.34 | 4.70 | 32.99 | 9.50 | -20.83 |
| P/V | 16.64 | 13.86 | 11.75 | 2.66 | 2.53 | 3.08 | 2.78 | 0.58 |
| Margen Bruto | 78.4% | 75.3% | 51.7% | 44.0% | 63.0% | 73.5% | 78.2% | 81.1% |
| Margen Operativo | -114.8% | -108.9% | -50.3% | -75.1% | -132.4% | -84.2% | -48.4% | -31.4% |
| Margen Neto | -128.1% | -125.1% | -68.8% | -79.2% | -171.3% | -106.2% | -60.2% | -39.8% |