Estados financieros detallados de Burning Rock Biotech Limited (BNR): 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
Burning Rock Biotech Limited registró ingresos de $539.6M en el último ejercicio fiscal, con un CAGR de 5 años del 4.6%.
Márgenes de los últimos 12 meses: margen bruto 74.6%, margen operativo -11.4%, margen neto -11.5%.
Al precio actual de $12.52, BNR presenta beneficios negativos (P/E no significativo) y un ROE del -10.96%. La capitalización bursátil es de $13M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Ingresos | $111.2M | $208.9M | $381.7M | $429.9M | $507.9M | $563.2M | $537.4M | $515.8M | $539.6M |
| Coste de Ventas | $39.5M | $73.8M | $108.3M | $116.0M | $143.7M | $183.2M | $174.2M | $153.4M | $136.7M |
| Beneficio Bruto | $71.7M | $135.1M | $273.3M | $313.9M | $364.1M | $380.0M | $363.2M | $362.4M | $402.9M |
| I+D | $49.0M | $105.3M | $156.9M | $263.9M | $367.9M | $421.9M | $347.0M | $232.3M | $166.5M |
| Generales y Administrativos | $143.5M | $191.2M | $285.5M | $462.4M | $793.4M | $938.6M | $685.5M | $452.5M | $291.3M |
| Gastos Operativos | $192.6M | $296.5M | $442.4M | $726.3M | $1.16B | $1.36B | $1.03B | $720.0M | $457.8M |
| Beneficio Operativo | -$120.9M | -$161.4M | -$169.1M | -$412.4M | -$797.1M | -$980.4M | -$669.3M | -$357.6M | -$54.8M |
| EBITDA | -$99.6M | -$135.9M | -$128.8M | -$373.3M | -$746.5M | -$845.2M | -$517.9M | -$270.2M | -$32.0M |
| Gastos por Intereses | $9.9M | $18.0M | $9.0M | $667000 | $1.5M | 0 | 0 | 0 | $30000 |
| Beneficio Antes de Impuestos | -$131.3M | -$177.5M | -$169.2M | -$407.2M | -$795.8M | -$969.2M | -$651.3M | -$340.7M | -$53.8M |
| Impuestos | 0 | 0 | 0 | 0 | $899000 | $2.0M | $2.4M | $5.9M | $1.6M |
| Beneficio Neto | -$131.3M | -$177.5M | -$168.3M | -$407.2M | -$796.7M | -$971.2M | -$653.7M | -$346.6M | -$55.3M |
| BPA | $-102.02 | $-103.82 | $-142.30 | $-68.76 | $-76.45 | $-93.47 | $-63.84 | $-33.67 | $-49.60 |
| BPA Diluido | $-102.02 | $-103.82 | $-142.30 | $-68.76 | $-76.45 | $-93.47 | $-63.84 | $-33.67 | $-49.60 |
| Acciones en Circulación (Diluidas) | $1.8M | $2.2M | $2.3M | $6.9M | $10.4M | $10.4M | $10.2M | $10.3M | $1.1M |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Caja y Equivalentes | $54.8M | $93.3M | $94.2M | $1.90B | $1.43B | $905.5M | $615.1M | $519.8M | $481.4M |
| Inversiones a Corto | $135.2M | $36.8M | $314.0M | $362.1M | $63.8M | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $41.2M | $35.5M | $89.7M | $110.8M | $161.4M | $170.2M | $149.6M | $173.4M | $182.0M |
| Inventario | $16.8M | $49.1M | $58.1M | $68.0M | $123.2M | $130.3M | $69.0M | $53.8M | $57.0M |
| Activos Corrientes | $298.9M | $293.0M | $706.8M | $2.52B | $1.82B | $1.26B | $884.1M | $776.6M | $739.1M |
| Inmovilizado Material | $60.7M | $69.6M | $89.3M | $111.5M | $406.4M | $300.0M | $144.2M | $100.3M | $73.9M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | $1.8M | 0 | 0 | 0 |
| Activos Intangibles | $516000 | $482000 | $343000 | $3.5M | $5.2M | $161000 | $964000 | $421000 | $284000 |
| Activos Totales | $400.3M | $372.7M | $847.6M | $2.66B | $2.28B | $1.59B | $1.04B | $885.3M | $820.9M |
| Cuentas por Pagar | 0 | $16.3M | $12.3M | $35.5M | $63.1M | $50.9M | $18.1M | $33.7M | $40.8M |
| Deuda a Corto | $14.9M | $176.3M | $39.5M | $42.1M | $2.4M | 0 | 0 | 0 | $200000 |
| Pasivos Corrientes | $78.1M | $284.7M | $164.4M | $241.5M | $372.2M | $411.5M | $263.4M | $266.3M | $247.1M |
| Deuda a Largo | $153.8M | $87.6M | $18.3M | 0 | 0 | 0 | 0 | 0 | $1.7M |
| Pasivos Totales | $231.8M | $976.1M | $1.74B | $242.0M | $433.3M | $429.1M | $271.6M | $304.5M | $285.3M |
| Reservas | -$379.5M | -$612.0M | -$946.5M | -$1.42B | -$2.23B | -$3.20B | -$3.85B | -$4.20B | -$4.26B |
| Patrimonio Neto | $168.5M | -$603.5M | -$891.5M | $2.42B | $1.85B | $1.16B | $768.4M | $580.8M | $535.6M |
| Deuda Total | $168.7M | $272.3M | $67.5M | $46.9M | $86.7M | $50.8M | $12.3M | $52.3M | $43.1M |
| Deuda Neta | -$21.3M | $142.1M | -$340.7M | -$2.21B | -$1.41B | -$854.7M | -$602.8M | -$467.5M | -$438.2M |
| Capital Circulante | $220.9M | $8.3M | $542.3M | $2.28B | $1.45B | $847.3M | $620.7M | $510.3M | $491.9M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Beneficio Neto | -$131.3M | -$177.5M | -$169.2M | -$407.2M | -$796.7M | -$971.2M | -$653.7M | -$346.6M | -$55.3M |
| Amortizaciones | $21.3M | $24.7M | $31.4M | $33.3M | $47.8M | $124.1M | $133.4M | $52.2M | $21.8M |
| Compensación en Acciones | $4.1M | $5.1M | $22.8M | $173.2M | $282.4M | $326.8M | $260.7M | $155.6M | $13.9M |
| Cambio en Capital Circulante | -$34.8M | -$6.2M | -$130.5M | $112.1M | -$62.4M | -$11.2M | -$52.2M | -$36.5M | -$59.4M |
| Flujo de Caja Operativo | -$133.7M | -$148.8M | -$228.0M | -$73.5M | -$477.9M | -$456.8M | -$255.8M | -$92.3M | -$28.4M |
| Inversiones (CapEx) | -$23.0M | -$24.7M | -$45.7M | -$79.5M | -$213.4M | -$62.0M | -$9.4M | -$6.0M | -$5.2M |
| Adquisiciones | -$2.4M | 0 | $401000 | $4.0M | $2.5M | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$9.1M | -$1.5M | -$3.6M | 0 | -$4.3M | -$71.8M | -$7.0M | -$72000 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$156.7M | -$173.5M | -$273.8M | -$153.1M | -$691.3M | -$518.8M | -$265.2M | -$98.2M | -$33.7M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Crecimiento Ingresos (anual) | +87.9% | +82.7% | +12.6% | +18.1% | +10.9% | -4.6% | -4.0% | +4.6% | |
| Crecimiento Beneficio Neto (anual) | -35.2% | +5.2% | -141.9% | -95.6% | -21.9% | +32.7% | +47.0% | +84.0% | |
| Crecimiento BPA (anual) | -1.8% | -37.1% | +51.7% | -11.2% | -22.3% | +31.7% | +47.3% | -47.3% | |
| Cambio en Acciones (anual) | +23.7% | +4.9% | +192.3% | +51.8% | -0.3% | -1.5% | +0.5% | -89.5% | |
| Crecimiento FCF (anual) | -10.7% | -57.8% | +44.1% | -351.6% | +25.0% | +48.9% | +63.0% | +65.7% | |
| Margen Bruto | 64.5% | 64.7% | 71.6% | 73.0% | 71.7% | 67.5% | 67.6% | 70.3% | 74.7% |
| Margen Operativo | -108.7% | -77.3% | -44.3% | -95.9% | -156.9% | -174.1% | -124.5% | -69.3% | -10.2% |
| Margen EBITDA | -89.6% | -65.0% | -33.7% | -86.8% | -147.0% | -150.1% | -96.4% | -52.4% | -5.9% |
| Margen Neto | -118.1% | -85.0% | -44.1% | -94.7% | -156.9% | -172.4% | -121.6% | -67.2% | -10.3% |
| Margen FCF | -141.0% | -83.1% | -71.7% | -35.6% | -136.1% | -92.1% | -49.3% | -19.0% | -6.2% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.1% | -0.2% | -0.4% | -1.7% | -2.9% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| FCF por Acción | $-86.64 | $-77.53 | $-116.58 | $-22.30 | $-66.34 | $-49.93 | $-25.90 | $-9.54 | $-31.24 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $1.3M | $1.7M | $1.2M | $5.9M | $10.4M | $10.4M | $10.2M | $10.3M | $1.1M |
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 | -10.96% |
| Rentabilidad sobre capital invertido | -10.10% |
| Rentabilidad sobre activos | -7.53% |
| Margen bruto | 74.55% |
| Margen operativo | -11.37% |
| Margen neto | -11.53% |
Salud financiera
| Deuda / Patrimonio | 0.10 |
| Ratio corriente | 3.05 |
| Piotroski F-Score | 6 |
| Altman Z-Score | -5.79 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| P/E | -15.71 | -16.31 | -12.05 | -21.92 | -7.92 | -1.66 | -1.08 | -1.46 | -2.84 |
| P/VC | 12.24 | -4.80 | -2.29 | 3.69 | 3.42 | 1.39 | 0.92 | 0.87 | 0.28 |
| P/V | 18.55 | 13.86 | 5.34 | 20.77 | 12.42 | 2.86 | 1.31 | 0.98 | 0.28 |
| Margen Bruto | 64.5% | 64.7% | 71.6% | 73.0% | 71.7% | 67.5% | 67.6% | 70.3% | 74.7% |
| Margen Operativo | -108.7% | -77.3% | -44.3% | -95.9% | -156.9% | -174.1% | -124.5% | -69.3% | -10.2% |
| Margen Neto | -118.1% | -85.0% | -44.1% | -94.7% | -156.9% | -172.4% | -121.6% | -67.2% | -10.3% |
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