Estados financieros detallados de Biofrontera Inc. (BFRI): 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
Biofrontera Inc. registró ingresos de $41.7M en el último ejercicio fiscal, con un CAGR de 5 años del 17.2%.
Márgenes de los últimos 12 meses: margen bruto 84.5%, margen operativo -9.5%, margen neto -13.8%.
Al precio actual de $1.21, BFRI presenta beneficios negativos (P/E no significativo) y un ROE del -127.78%. La capitalización bursátil es de $15M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $26.2M | $18.8M | $24.1M | $28.7M | $34.1M | $37.3M | $41.7M |
| Coste de Ventas | $12.4M | $9.1M | $12.7M | $15.2M | $17.4M | $18.6M | $8.9M |
| Beneficio Bruto | $13.8M | $9.8M | $11.4M | $13.5M | $16.6M | $18.7M | $32.8M |
| I+D | 0 | 0 | 0 | 0 | $77000 | $2.1M | $3.7M |
| Generales y Administrativos | $28.7M | $18.1M | $37.2M | $35.9M | $39.1M | $33.8M | $38.1M |
| Gastos Operativos | $28.7M | $19.4M | $36.6M | $32.1M | $39.3M | $35.9M | $42.0M |
| Beneficio Operativo | -$14.9M | -$9.6M | -$25.2M | -$18.6M | -$22.7M | -$17.2M | -$9.1M |
| EBITDA | -$8.1M | -$7.5M | -$36.8M | $934000 | -$18.5M | -$14.4M | -$9.2M |
| Gastos por Intereses | $2.2M | $2.9M | $360000 | $370000 | $600000 | $2.1M | $452000 |
| Beneficio Antes de Impuestos | -$10.9M | -$10.9M | -$37.7M | -$608000 | -$20.1M | -$17.7M | -$10.5M |
| Impuestos | $33000 | $64000 | $56000 | $32000 | $14000 | $22000 | $25000 |
| Beneficio Neto | -$11.0M | -$11.0M | -$37.7M | -$640000 | -$20.1M | -$17.8M | -$10.5M |
| BPA | $-18.09 | $-18.94 | $-44.10 | $-0.61 | $-13.02 | $-3.22 | $-1.04 |
| BPA Diluido | $-18.09 | $-18.94 | $-44.10 | $-0.61 | $-13.02 | $-3.22 | $-0.90 |
| Acciones en Circulación (Diluidas) | $607000 | $580000 | $855237 | $1.1M | $1.5M | $5.5M | $11.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $7.0M | $17.1M | $10.1M | $12.0M |
| Beneficio Bruto | $4.9M | $16.2M | $8.3M | $9.6M |
| Beneficio Operativo | -$6.3M | $6.8M | -$4.3M | -$524000 |
| EBITDA | -$6.3M | $6.0M | -$4.7M | -$593000 |
| Beneficio Neto | -$6.6M | $5.6M | -$4.8M | -$604000 |
| BPA | $-0.62 | $0.48 | $-0.41 | $-0.05 |
| BPA Diluido | $-0.62 | $0.48 | $-0.41 | $-0.05 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $7.3M | $8.1M | $24.5M | $17.2M | $1.3M | $5.9M | $6.4M |
| Inversiones a Corto | 0 | 0 | 0 | $10.5M | $78000 | $7000 | $9000 |
| Cuentas por Cobrar | $4.8M | $3.3M | $3.8M | $7.4M | $5.2M | $5.3M | $7.3M |
| Inventario | $10.5M | $7.1M | $4.5M | $7.2M | $10.9M | $6.6M | $1.4M |
| Activos Corrientes | $23.5M | $19.6M | $46.4M | $43.1M | $23.1M | $20.7M | $18.1M |
| Inmovilizado Material | $503000 | $370000 | $267000 | $1.6M | $1.7M | $983000 | $3.7M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $4.3M | $3.9M | $3.5M | $3.0M | $2.6M | $35000 | $2.6M |
| Activos Totales | $28.8M | $24.1M | $53.2M | $50.9M | $27.9M | $22.1M | $28.6M |
| Cuentas por Pagar | $7.8M | $1.5M | $658000 | $1.3M | $8.9M | $1.9M | $1.9M |
| Deuda a Corto | 0 | 0 | 0 | 0 | $3.9M | 0 | 0 |
| Pasivos Corrientes | $11.7M | $4.4M | $13.8M | $20.9M | $18.1M | $12.0M | $11.9M |
| Deuda a Largo | $38.2M | 0 | 0 | 0 | 0 | $4.1M | $5.8M |
| Pasivos Totales | $58.9M | $18.3M | $41.9M | $27.0M | $23.1M | $17.7M | $18.1M |
| Reservas | -$30.2M | -$41.2M | -$78.9M | -$79.5M | -$99.7M | -$117.4M | -$127.9M |
| Patrimonio Neto | -$30.2M | $5.8M | $11.3M | $23.9M | $4.8M | $4.4M | $10.5M |
| Deuda Total | $38.2M | 0 | 0 | $1.3M | $5.4M | $4.9M | $6.2M |
| Deuda Neta | $30.9M | -$8.1M | -$24.5M | -$26.4M | $4.0M | -$990000 | -$231000 |
| Capital Circulante | $11.7M | $15.2M | $32.6M | $22.2M | $5.0M | $8.7M | $6.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $3.4M | $6.4M | $6.3M | $4.7M |
| Activos Totales | $15.4M | $28.6M | $24.8M | $24.1M |
| Pasivos Totales | $18.0M | $18.1M | $18.7M | $18.1M |
| Patrimonio Neto | -$2.6M | $10.5M | $6.1M | $6.0M |
| Deuda Total | $4.9M | $6.2M | $7.7M | $7.5M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$11.0M | -$11.0M | -$37.7M | -$640000 | -$20.1M | -$17.8M | -$10.5M |
| Amortizaciones | $667000 | $562000 | $540000 | $1.2M | $1.1M | $1.1M | $138000 |
| Compensación en Acciones | 0 | 0 | $129000 | $1.9M | $1.0M | $1.0M | $951000 |
| Cambio en Capital Circulante | -$23.9M | -$2.8M | -$1.5M | $2.8M | -$4.4M | $6.2M | -$3.5M |
| Flujo de Caja Operativo | -$37.7M | -$12.4M | -$26.7M | -$16.2M | -$24.9M | -$10.3M | -$13.4M |
| Inversiones (CapEx) | -$538000 | 0 | -$11000 | -$38000 | -$5000 | -$60000 | -$2000 |
| Adquisiciones | $25.9M | 0 | 0 | 0 | 0 | 0 | $3.0M |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$38.2M | -$12.4M | -$26.7M | -$16.2M | -$24.9M | -$10.3M | -$13.4M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$3.8M | -$2.4M | -$70000 | -$1.7M |
| Inversiones (CapEx) | $1000 | $1000 | -$5000 | 0 |
| Flujo de Caja Libre | -$3.8M | -$2.4M | -$75000 | -$1.7M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $236000 | $289000 | $342000 | $263000 |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -28.0% | +27.9% | +19.0% | +18.8% | +9.5% | +11.8% |
| Crecimiento Beneficio Neto (anual) | | -0.0% | -243.3% | +98.3% | -3045.5% | +11.8% | +40.7% |
| Crecimiento BPA (anual) | | -4.7% | -132.8% | +98.6% | -2034.4% | +75.3% | +67.7% |
| Cambio en Acciones (anual) | | -4.4% | +47.5% | +23.6% | +46.3% | +256.7% | +111.2% |
| Crecimiento FCF (anual) | | +67.6% | -116.1% | +39.2% | -53.4% | +58.5% | -29.4% |
| Margen Bruto | 52.6% | 51.9% | 47.1% | 47.0% | 48.8% | 50.1% | 78.7% |
| Margen Operativo | -57.0% | -51.0% | -104.6% | -64.8% | -66.6% | -46.1% | -21.9% |
| Margen EBITDA | -31.1% | -39.6% | -152.5% | 3.3% | -54.2% | -38.7% | -22.0% |
| Margen Neto | -41.9% | -58.3% | -156.5% | -2.2% | -59.1% | -47.6% | -25.3% |
| Margen FCF | -146.0% | -65.6% | -110.9% | -56.6% | -73.1% | -27.7% | -32.0% |
| Tasa Impositiva Efectiva | -0.3% | -0.6% | -0.1% | -5.3% | -0.1% | -0.1% | -0.2% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-62.96 | $-21.33 | $-31.25 | $-15.36 | $-16.10 | $-1.87 | $-1.15 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $607000 | $580000 | $855237 | $1.1M | $1.5M | $5.5M | $10.2M |
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 | -127.78% |
| Rentabilidad sobre capital invertido | -31.18% |
| Rentabilidad sobre activos | -26.45% |
| Margen bruto | 84.45% |
| Margen operativo | -9.45% |
| Margen neto | -13.78% |
Salud financiera
| Deuda / Patrimonio | 1.26 |
| Ratio corriente | 1.18 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -4.88 | -4.66 | -3.41 | -30.07 | -0.21 | -0.34 | -0.55 |
| P/VC | -1.77 | 8.78 | 11.34 | 0.81 | 0.89 | 1.36 | 0.55 |
| P/V | 2.04 | 2.71 | 5.34 | 0.68 | 0.13 | 0.16 | 0.14 |
| Margen Bruto | 52.6% | 51.9% | 47.1% | 47.0% | 48.8% | 50.1% | 78.7% |
| Margen Operativo | -57.0% | -51.0% | -104.6% | -64.8% | -66.6% | -46.1% | -21.9% |
| Margen Neto | -41.9% | -58.3% | -156.5% | -2.2% | -59.1% | -47.6% | -25.3% |