Estados financieros detallados de Community Health Systems, Inc. (CYH): 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
Community Health Systems, Inc. registró ingresos de $12.48B en el último ejercicio fiscal, con un CAGR de 5 años del 1.2%. El beneficio neto alcanzó $509.0M, con un CAGR a 5 años del -0.1%.
Márgenes de los últimos 12 meses: margen bruto 58.1%, margen operativo -38.7%, margen neto -1.3%. El flujo de caja libre creció a un CAGR del -34.6% en 5 años.
Al precio actual de $2.98, CYH presenta beneficios negativos (P/E no significativo) y un ROE del 20.91%. La capitalización bursátil es de $420M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $18.44B | $15.35B | $14.15B | $13.21B | $11.79B | $12.37B | $12.21B | $12.49B | $12.63B | $12.48B |
| Coste de Ventas | $11.63B | $10.05B | $8.74B | $8.10B | $7.37B | $7.28B | $7.30B | $7.41B | $7.36B | $11.40B |
| Beneficio Bruto | $6.80B | $5.30B | $5.42B | $5.11B | $4.42B | $5.08B | $4.91B | $5.08B | $5.27B | $1.08B |
| I+D | 0 | 0 | 0 | 0 | 0 | $108.0M | $85.0M | $80.0M | 0 | 0 |
| Generales y Administrativos | $450.0M | $394.0M | $337.0M | $321.0M | $327.0M | $308.0M | $317.0M | $319.0M | $299.0M | 0 |
| Gastos Operativos | $7.66B | $7.18B | $5.21B | $4.46B | $3.29B | $3.68B | $4.08B | $4.12B | $4.73B | $11.00B |
| Beneficio Operativo | -$860.0M | -$1.88B | $208.0M | $650.0M | $1.13B | $1.40B | $821.0M | $957.0M | $542.0M | -$9.91B |
| EBITDA | $1.98B | $899.0M | $1.45B | $1.39B | $1.01B | $1.71B | $1.17B | $1.29B | $1.25B | $2.02B |
| Gastos por Intereses | $962.0M | $942.0M | $976.0M | $1.04B | $1.03B | $885.0M | $858.0M | $832.0M | $863.0M | $870.0M |
| Beneficio Antes de Impuestos | -$1.72B | -$2.83B | -$715.0M | -$430.0M | $422.0M | $499.0M | $349.0M | $207.0M | -$283.0M | $724.0M |
| Impuestos | -$104.0M | -$449.0M | -$11.0M | $160.0M | -$185.0M | $131.0M | $170.0M | $191.0M | $79.0M | $48.0M |
| Beneficio Neto | -$1.72B | -$2.46B | -$788.0M | -$590.0M | $511.0M | $230.0M | $46.0M | -$133.0M | -$516.0M | $509.0M |
| BPA | $-15.55 | $-22.00 | $-6.99 | $-5.19 | $4.42 | $1.82 | $0.36 | $-1.02 | $-3.90 | $3.80 |
| BPA Diluido | $-15.54 | $-22.00 | $-6.99 | $-5.19 | $4.38 | $1.76 | $0.35 | $-1.02 | $-3.90 | $3.77 |
| Acciones en Circulación (Diluidas) | $110.7M | $111.8M | $112.7M | $113.7M | $116.5M | $130.6M | $130.1M | $130.4M | $132.1M | $135.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $3.09B | $3.11B | $12.16B | $4.06B |
| Beneficio Bruto | $2.63B | -$4.18B | $11.74B | $2.83B |
| Beneficio Operativo | $243.0M | -$10.95B | $1.64B | $389.0M |
| EBITDA | $322.0M | $549.0M | $3.71B | $325.0M |
| Beneficio Neto | $130.0M | $110.0M | -$610.0M | $70.0M |
| BPA | $0.97 | $0.82 | $-4.57 | $0.52 |
| BPA Diluido | $0.96 | $0.82 | $-4.52 | $0.51 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $238.0M | $563.0M | $196.0M | $216.0M | $1.68B | $507.0M | $118.0M | $38.0M | $37.0M | $260.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $3.36B | $2.54B | $2.51B | $2.40B | $2.06B | $2.18B | $2.14B | $2.36B | $2.45B | $2.26B |
| Inventario | $480.0M | $444.0M | $402.0M | $354.0M | $335.0M | $355.0M | $353.0M | $328.0M | $331.0M | $322.0M |
| Activos Corrientes | $4.67B | $4.07B | $3.55B | $3.43B | $4.51B | $3.48B | $3.08B | $3.21B | $3.30B | $3.23B |
| Inmovilizado Material | $8.15B | $7.05B | $6.14B | $6.21B | $5.96B | $6.22B | $6.10B | $5.87B | $5.40B | $5.12B |
| Fondo de Comercio | $6.52B | $4.72B | $4.56B | $4.33B | $4.22B | $4.22B | $4.17B | $3.96B | $3.79B | $3.32B |
| Activos Intangibles | $674.0M | $505.0M | $423.0M | $385.0M | $305.0M | $270.0M | $224.0M | $205.0M | $172.0M | $144.0M |
| Activos Totales | $21.94B | $17.45B | $15.86B | $15.61B | $16.01B | $15.22B | $14.67B | $14.46B | $14.05B | $13.20B |
| Cuentas por Pagar | $880.0M | $801.0M | $772.0M | $718.0M | $683.0M | $725.0M | $686.0M | $811.0M | $784.0M | $842.0M |
| Deuda a Corto | $455.0M | $33.0M | $204.0M | $156.0M | $265.0M | $178.0M | $169.0M | $145.0M | $135.0M | $126.0M |
| Pasivos Corrientes | $2.89B | $2.36B | $2.39B | $2.28B | $2.81B | $2.36B | $2.19B | $2.14B | $2.35B | $2.21B |
| Deuda a Largo | $14.49B | $13.59B | $13.17B | $13.12B | $11.86B | $11.72B | $11.39B | $11.25B | $11.24B | $10.72B |
| Pasivos Totales | $19.66B | $17.61B | $16.82B | $17.25B | $17.06B | $16.03B | $15.40B | $15.28B | $15.37B | $14.04B |
| Reservas | -$299.0M | -$2.76B | -$3.54B | -$4.22B | -$3.71B | -$3.48B | -$3.43B | -$3.56B | -$4.08B | -$3.57B |
| Patrimonio Neto | $1.61B | -$767.0M | -$1.53B | -$2.22B | -$1.62B | -$1.37B | -$1.37B | -$1.39B | -$1.91B | -$1.39B |
| Deuda Total | $15.24B | $13.91B | $13.60B | $14.03B | $12.88B | $12.82B | $12.39B | $12.17B | $12.10B | $11.58B |
| Deuda Neta | $15.01B | $13.35B | $13.40B | $13.81B | $11.21B | $12.31B | $12.27B | $12.14B | $12.06B | $11.32B |
| Capital Circulante | $1.78B | $1.71B | $1.16B | $1.15B | $1.70B | $1.11B | $896.0M | $1.07B | $956.0M | $1.03B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $123.0M | $260.0M | $712.0M | $149.0M |
| Activos Totales | $13.24B | $13.20B | $13.18B | $12.18B |
| Pasivos Totales | $14.19B | $14.04B | $14.14B | $13.34B |
| Patrimonio Neto | -$1.50B | -$1.39B | -$1.45B | -$1.39B |
| Deuda Total | $11.24B | $11.58B | $10.76B | $10.21B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$1.71B | -$2.45B | -$788.0M | -$675.0M | $511.0M | $230.0M | $46.0M | -$133.0M | -$516.0M | $676.0M |
| Amortizaciones | $1.10B | $861.0M | $700.0M | $608.0M | $558.0M | $540.0M | $534.0M | $505.0M | $486.0M | $426.0M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $11.0M |
| Cambio en Capital Circulante | -$177.0M | $525.0M | -$418.0M | -$271.0M | $1.32B | -$1.38B | -$479.0M | -$390.0M | -$9.0M | $3.0M |
| Flujo de Caja Operativo | $2.36B | $773.0M | $274.0M | $385.0M | $2.18B | -$131.0M | $300.0M | $210.0M | $480.0M | $543.0M |
| Inversiones (CapEx) | -$867.0M | -$570.0M | -$527.0M | -$438.0M | -$440.0M | -$469.0M | -$415.0M | -$467.0M | -$360.0M | -$335.0M |
| Adquisiciones | $139.0M | $1.70B | $359.0M | $593.0M | $665.0M | $5.0M | $126.0M | $426.0M | $152.0M | $1.26B |
| Recompra de Acciones | -$6.0M | -$5.0M | -$1.0M | -$1.0M | -$1.0M | -$5.0M | -$8.0M | -$4.0M | -$1.0M | -$2.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $1.49B | $203.0M | -$253.0M | -$53.0M | $1.74B | -$600.0M | -$115.0M | -$257.0M | $120.0M | $208.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $69.0M | $266.0M | -$297.0M | $88.0M |
| Inversiones (CapEx) | -$65.0M | -$94.0M | -$76.0M | -$76.0M |
| Flujo de Caja Libre | $4.0M | $172.0M | -$373.0M | $12.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | $3.0M | $2.0M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -16.7% | -7.8% | -6.7% | -10.8% | +4.9% | -1.3% | +2.3% | +1.2% | -1.2% |
| Crecimiento Beneficio Neto (anual) | | -42.9% | +68.0% | +25.1% | +186.6% | -55.0% | -80.0% | -389.1% | -288.0% | +198.6% |
| Crecimiento BPA (anual) | | -41.5% | +68.2% | +25.8% | +185.2% | -58.8% | -80.2% | -383.3% | -282.4% | +197.4% |
| Cambio en Acciones (anual) | | +0.9% | +0.9% | +0.9% | +2.5% | +12.1% | -0.4% | +0.3% | +1.3% | +2.2% |
| Crecimiento FCF (anual) | | -86.4% | -224.6% | +79.1% | +3379.2% | -134.5% | +80.8% | -123.5% | +146.7% | +73.3% |
| Margen Bruto | 36.9% | 34.6% | 38.3% | 38.7% | 37.5% | 41.1% | 40.2% | 40.7% | 41.7% | 8.7% |
| Margen Operativo | -4.7% | -12.2% | 1.5% | 4.9% | 9.6% | 11.3% | 6.7% | 7.7% | 4.3% | -79.4% |
| Margen EBITDA | 10.7% | 5.9% | 10.3% | 10.5% | 8.6% | 13.8% | 9.6% | 10.4% | 9.9% | 16.2% |
| Margen Neto | -9.3% | -16.0% | -5.6% | -4.5% | 4.3% | 1.9% | 0.4% | -1.1% | -4.1% | 4.1% |
| Margen FCF | 8.1% | 1.3% | -1.8% | -0.4% | 14.7% | -4.9% | -0.9% | -2.1% | 0.9% | 1.7% |
| Tasa Impositiva Efectiva | 6.1% | 15.8% | 1.5% | -37.2% | -43.8% | 26.3% | 48.7% | 92.3% | -27.9% | 6.6% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $13.45 | $1.82 | $-2.24 | $-0.47 | $14.91 | $-4.59 | $-0.88 | $-1.97 | $0.91 | $1.54 |
| 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) | $110.7M | $111.8M | $112.7M | $113.7M | $115.5M | $126.8M | $128.8M | $130.4M | $132.1M | $134.0M |
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 | 20.91% |
| Rentabilidad sobre capital invertido | -84.36% |
| Rentabilidad sobre activos | -2.46% |
| Margen bruto | 58.08% |
| Margen operativo | -38.72% |
| Margen neto | -1.34% |
Salud financiera
| Deuda / Patrimonio | -7.34 |
| Ratio corriente | 1.53 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -0.36 | -0.19 | -0.40 | -0.56 | 1.68 | 7.31 | 12.00 | -3.07 | -0.77 | 0.82 |
| P/VC | 0.38 | -0.62 | -0.21 | -0.15 | -0.53 | -1.23 | -0.41 | -0.29 | -0.21 | -0.30 |
| P/V | 0.03 | 0.03 | 0.02 | 0.02 | 0.07 | 0.14 | 0.05 | 0.03 | 0.03 | 0.03 |
| Margen Bruto | 36.9% | 34.6% | 38.3% | 38.7% | 37.5% | 41.1% | 40.2% | 40.7% | 41.7% | 8.7% |
| Margen Operativo | -4.7% | -12.2% | 1.5% | 4.9% | 9.6% | 11.3% | 6.7% | 7.7% | 4.3% | -79.4% |
| Margen Neto | -9.3% | -16.0% | -5.6% | -4.5% | 4.3% | 1.9% | 0.4% | -1.1% | -4.1% | 4.1% |