Estados financieros detallados de CEL-SCI Corporation (CVM): 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
Márgenes de los últimos 12 meses: margen bruto 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $1.48, CVM presenta beneficios negativos (P/E no significativo) y un ROE del -159.25%. La capitalización bursátil es de $10M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $285055 | $69020 | $476556 | $462754 | $558664 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | $17445 | $633000 | $10914 | $12659 | $17.8M | 0 | 0 | $22.5M | $4.0M | $15.9M |
| Beneficio Bruto | $267610 | -$563980 | $465642 | $450095 | -$17.3M | 0 | 0 | -$22.5M | -$4.0M | -$15.9M |
| I+D | $19.4M | $15.6M | $9.4M | $12.7M | $17.8M | $23.1M | $25.4M | $22.5M | $18.2M | $15.9M |
| Generales y Administrativos | $6.5M | $5.8M | $7.8M | $8.0M | $11.7M | $13.1M | $10.7M | $9.0M | $4.2M | $8.9M |
| Gastos Operativos | $25.6M | $21.3M | $16.8M | $20.2M | $11.7M | $36.2M | $36.1M | $9.0M | $22.4M | $8.9M |
| Beneficio Operativo | -$25.6M | -$21.3M | -$16.8M | -$20.2M | -$29.0M | -$36.2M | -$36.1M | -$31.5M | -$26.4M | -$24.8M |
| EBITDA | -$9.1M | -$9.7M | -$16.1M | -$19.7M | -$26.8M | -$33.0M | -$31.8M | -$29.3M | -$22.2M | -$20.9M |
| Gastos por Intereses | 0 | $4.0M | 0 | $1.8M | $1.0M | $1.1M | $1.1M | $675416 | $745673 | $648944 |
| Beneficio Antes de Impuestos | -$11.5M | -$14.4M | -$31.8M | -$22.1M | -$30.3M | -$36.4M | -$36.7M | -$32.4M | -$26.9M | -$25.4M |
| Impuestos | -$14.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$11.5M | -$14.4M | -$31.8M | -$24.7M | -$30.3M | -$36.4M | -$36.7M | -$32.4M | -$26.9M | -$25.4M |
| BPA | $-62.70 | $-1638.00 | $-1685.10 | $-21.60 | $-24.71 | $-27.89 | $-26.16 | $-21.83 | $-13.50 | $-6.27 |
| BPA Diluido | $-62.40 | $-1638.00 | $-1685.10 | $-21.60 | $-24.71 | $-27.86 | $-26.16 | $-21.83 | $-13.50 | $-6.27 |
| Acciones en Circulación (Diluidas) | $184165 | $8769 | $18894 | $1.1M | $1.2M | $1.4M | $1.4M | $1.5M | $2.0M | $4.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$960850 | -$3.7M | -$956401 | -$946370 |
| Beneficio Operativo | -$6.0M | -$5.4M | -$5.3M | -$5.6M |
| EBITDA | -$5.1M | -$4.4M | -$4.4M | -$4.6M |
| Beneficio Neto | -$6.1M | -$5.5M | -$5.5M | -$5.7M |
| BPA | $-0.76 | $-0.68 | $-0.67 | $-0.47 |
| BPA Diluido | $-0.76 | $-0.68 | $-0.67 | $-0.47 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $2.9M | $2.4M | $10.3M | $8.4M | $15.5M | $36.1M | $22.7M | $4.1M | $4.7M | $11.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | $6.2M | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $394515 | $218481 | $118657 | $62765 | $54922 | $54922 | 0 | 0 | 0 | 0 |
| Inventario | $1.0M | $672522 | $645238 | $782363 | $820052 | $2.0M | $2.0M | $2.2M | $1.0M | $303282 |
| Activos Corrientes | $5.9M | $4.2M | $11.4M | $9.8M | $17.7M | $45.3M | $25.4M | $6.9M | $6.1M | $11.6M |
| Inmovilizado Material | $226216 | $16.8M | $16.2M | $15.8M | $20.9M | $28.4M | $24.7M | $21.0M | $17.0M | $12.90B |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $256547 | $223167 | $258093 | $311586 | $313422 | $275866 | $212201 | $197704 | $165492 | $119856 |
| Activos Totales | $11.6M | $22.9M | $29.6M | $27.6M | $40.5M | $75.9M | $50.5M | $30.5M | $27.0M | $28.2M |
| Cuentas por Pagar | $3.1M | $8.2M | $5.7M | $1.6M | $2.0M | $1.7M | $1.6M | $2.0M | $1.4M | $1.1M |
| Deuda a Corto | 0 | $994258 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $4.0M | $10.8M | $9.2M | $3.0M | $4.3M | $3.9M | $4.7M | $5.6M | $4.6M | $5.1M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $12.6M | $26.3M | $29.6M | $22.5M | $20.8M | $19.3M | $18.4M | $17.3M | $14.1M | $12.2M |
| Reservas | -$285.7M | -$299.8M | -$331.6M | -$353.7M | -$381.8M | -$418.2M | -$454.9M | -$487.1M | -$514.0M | -$539.4M |
| Patrimonio Neto | -$956068 | -$3.3M | $916 | $5.1M | $19.7M | $56.5M | $32.2M | $13.2M | $12.9M | $16.0M |
| Deuda Total | $13.0M | $14.2M | $13.4M | $13.5M | $13.9M | $16.0M | $15.3M | $13.6M | $11.6M | $9.4M |
| Deuda Neta | $10.1M | $11.8M | $3.1M | $5.1M | -$1.6M | -$26.2M | -$7.4M | $9.4M | $6.9M | -$1.6M |
| Capital Circulante | $1.9M | -$6.6M | $2.2M | $6.8M | $13.4M | $41.3M | $20.8M | $1.3M | $1.4M | $6.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $11.0M | $6.3M | $1.9M | $6.5M |
| Activos Totales | $28.2M | $22.9M | $17.7M | $21.4M |
| Pasivos Totales | $12.2M | $11.8M | $10.8M | $10.4M |
| Patrimonio Neto | $16.0M | $11.1M | $6.9M | $11.0M |
| Deuda Total | $9.4M | $10.6M | $8.5M | $7.9M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$11.5M | -$14.4M | -$31.8M | -$22.1M | -$30.3M | -$36.4M | -$36.7M | -$32.2M | -$26.9M | -$25.4M |
| Amortizaciones | $150243 | $632915 | $650131 | $633529 | $2.2M | $2.2M | $3.8M | $4.0M | $4.0M | $3.9M |
| Compensación en Acciones | $2.3M | $1.5M | $2.9M | $4.6M | $10.3M | $13.9M | $12.2M | $7.1M | $4.3M | $2.9M |
| Cambio en Capital Circulante | -$779415 | $6.8M | -$2.7M | -$4.5M | -$1.2M | -$483474 | $2.5M | -$1.8M | -$1.2M | $1.2M |
| Flujo de Caja Operativo | -$23.1M | -$13.8M | -$13.4M | -$16.3M | -$15.3M | -$18.8M | -$18.2M | -$22.8M | -$18.8M | -$17.1M |
| Inversiones (CapEx) | -$34224 | -$17002 | -$58140 | -$335839 | -$2.7M | -$9.0M | -$637892 | -$372262 | -$94875 | -$38109 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$23.1M | -$13.8M | -$13.4M | -$16.7M | -$18.0M | -$27.8M | -$18.9M | -$23.2M | -$18.9M | -$17.2M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$4.7M | -$4.0M | -$4.0M | -$4.0M |
| Inversiones (CapEx) | -$5152 | $5 | 0 | -$4 |
| Flujo de Caja Libre | -$4.7M | -$4.0M | -$4.0M | -$4.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $661701 | $558855 | $570275 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -75.8% | +590.5% | -2.9% | +20.7% | -100.0% | | | | |
| Crecimiento Beneficio Neto (anual) | | -25.3% | -121.7% | +22.4% | -22.6% | -20.1% | -0.9% | +11.8% | +16.8% | +5.6% |
| Crecimiento BPA (anual) | | -2512.4% | -2.9% | +98.7% | -14.4% | -12.9% | +6.2% | +16.6% | +38.2% | +53.6% |
| Cambio en Acciones (anual) | | -95.2% | +115.5% | +5911.6% | +7.9% | +10.7% | +6.0% | +3.1% | +34.1% | +103.9% |
| Crecimiento FCF (anual) | | +40.3% | +2.6% | -23.9% | -7.9% | -54.8% | +32.2% | -23.0% | +18.6% | +9.2% |
| Margen Bruto | 93.9% | -817.1% | 97.7% | 97.3% | -3093.4% | | | | | |
| Margen Operativo | -8964.3% | -30916.1% | -3519.5% | -4364.1% | -5188.3% | | | | | |
| Margen EBITDA | -3185.7% | -14051.1% | -3383.0% | -4257.9% | -4801.7% | | | | | |
| Margen Neto | -4022.6% | -20810.3% | -6680.7% | -5336.0% | -5419.5% | | | | | |
| Margen FCF | -8109.6% | -20007.1% | -2821.9% | -3599.4% | -3216.8% | | | | | |
| Tasa Impositiva Efectiva | 122.9% | -0.0% | -0.0% | -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 | $-125.52 | $-1574.81 | $-711.75 | $-14.66 | $-14.67 | $-20.51 | $-13.13 | $-15.66 | $-9.51 | $-4.23 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $182660 | $8769 | $18894 | $1.1M | $1.2M | $1.4M | $1.4M | $1.5M | $2.0M | $4.1M |
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 | -159.25% |
| Rentabilidad sobre capital invertido | -97.42% |
| Rentabilidad sobre activos | -90.25% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.72 |
| Ratio corriente | 1.48 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -27.62 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -4.45 | -0.04 | -0.09 | -14.90 | -18.58 | -14.19 | -4.25 | -2.06 | -2.83 | -1.47 |
| P/VC | -53.30 | -0.16 | 3163.29 | 71.19 | 28.50 | 9.49 | 4.97 | 5.05 | 5.90 | 2.34 |
| P/V | 178.78 | 7.59 | 6.08 | 789.79 | 1006.46 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 93.9% | -817.1% | 97.7% | 97.3% | -3093.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | -8964.3% | -30916.1% | -3519.5% | -4364.1% | -5188.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | -4022.6% | -20810.3% | -6680.7% | -5336.0% | -5419.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |