Estados financieros detallados de DarioHealth Corp. (DRIO): 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
DarioHealth Corp. registró ingresos de $22.4M en el último ejercicio fiscal, con un CAGR de 5 años del 24.2%.
Márgenes de los últimos 12 meses: margen bruto 56.1%, margen operativo -328.8%, margen neto 322.8%.
Al precio actual de $6.78, DRIO cotiza a un P/E de 9.83 y un ROE del 104.15%. La capitalización bursátil es de $50M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $2.8M | $5.2M | $7.4M | $7.6M | $7.6M | $20.5M | $27.7M | $20.4M | $27.0M | $22.4M |
| Coste de Ventas | $3.4M | $3.9M | $5.6M | $5.0M | $5.1M | $12.4M | $18.0M | $14.4M | $13.8M | $9.7M |
| Beneficio Bruto | -$561000 | $1.3M | $1.8M | $2.6M | $2.5M | $8.1M | $9.7M | $6.0M | $13.3M | $12.7M |
| I+D | $2.2M | $3.3M | $3.7M | $3.7M | $4.4M | $17.2M | $19.6M | $20.2M | $24.2M | $13.8M |
| Generales y Administrativos | $8.1M | $12.4M | $15.8M | $16.6M | $28.0M | $62.4M | $46.8M | $41.8M | $46.8M | $35.5M |
| Gastos Operativos | $10.3M | $15.7M | $19.5M | $20.3M | $32.4M | $84.6M | $66.5M | $62.2M | $71.0M | $49.3M |
| Beneficio Operativo | -$11.1M | -$14.4M | -$17.7M | -$17.7M | -$29.9M | -$76.5M | -$56.8M | -$56.2M | -$57.7M | -$36.7M |
| EBITDA | -$10.4M | -$14.2M | -$17.5M | -$17.5M | -$29.7M | -$70.0M | -$55.6M | -$54.4M | -$37.1M | -$34.7M |
| Gastos por Intereses | $20000 | $171000 | $18000 | $27000 | $49000 | $84000 | $2.7M | $645000 | $96000 | $3.4M |
| Beneficio Antes de Impuestos | -$10.9M | -$15.7M | -$17.8M | -$17.7M | -$29.4M | -$76.7M | -$62.2M | -$59.4M | -$44.6M | -$41.6M |
| Impuestos | $55000 | 0 | -$115000 | 0 | 0 | $32000 | $4000 | $64000 | -$1.9M | $105000 |
| Beneficio Neto | -$10.9M | -$15.7M | -$17.8M | -$17.7M | -$29.4M | -$76.8M | -$62.2M | -$59.4M | -$42.7M | -$41.7M |
| BPA | $-41.85 | $-32.70 | $-15.21 | $-7.84 | $-5.55 | $-4.63 | $-2.63 | $-1.93 | $-0.74 | $-0.81 |
| BPA Diluido | $-41.85 | $-32.70 | $-15.21 | $-7.84 | $-5.55 | $-4.63 | $-2.63 | $-1.93 | $-0.74 | $-0.81 |
| Acciones en Circulación (Diluidas) | $260148 | $481412 | $1.2M | $2.3M | $6.0M | $16.6M | $23.6M | $28.4M | $40.4M | $49.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $5.0M | $5.2M | $5.6M | $5.2M |
| Beneficio Bruto | $3.0M | $2.4M | $3.2M | $3.2M |
| Beneficio Operativo | -$9.5M | -$45.8M | -$7.3M | -$6.5M |
| EBITDA | -$8.7M | -$8.5M | -$6.5M | -$6.0M |
| Beneficio Neto | -$2.1M | $86.0M | -$8.2M | -$7.9M |
| BPA | $-0.19 | $1.90 | $-0.17 | $-0.85 |
| BPA Diluido | $-0.19 | $1.90 | $-0.17 | $-0.85 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.1M | $3.7M | $11.0M | $20.6M | $28.6M | $36.0M | $49.4M | $36.8M | $27.8M | $26.2M |
| Inversiones a Corto | $225000 | $258000 | 0 | 0 | 0 | 0 | 0 | 0 | $697000 | 0 |
| Cuentas por Cobrar | $290000 | $435000 | $234000 | $712000 | $1.7M | $1.8M | $6.4M | $3.6M | $5.4M | $2.7M |
| Inventario | $888000 | $1.2M | $1.4M | $1.4M | $2.3M | $6.2M | $8.0M | $5.1M | $4.8M | $4.3M |
| Activos Corrientes | $2.9M | $6.0M | $13.3M | $22.9M | $34.1M | $45.6M | $65.5M | $47.3M | $40.5M | $34.8M |
| Inmovilizado Material | $901000 | $869000 | $733000 | $1.4M | $1.1M | $989000 | $2.0M | $1.9M | $1.8M | $1.3M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | $41.6M | $41.6M | $41.6M | $57.4M | $57.4M |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | $12.5M | $9.9M | $5.4M | $18.8M | $15.9M |
| Activos Totales | $3.9M | $7.0M | $14.1M | $24.6M | $35.4M | $100.8M | $119.2M | $96.4M | $118.9M | $110.1M |
| Cuentas por Pagar | $1.8M | $1.9M | $2.6M | $1.7M | $2.5M | $5.1M | $2.3M | $1.1M | $3.0M | $2.9M |
| Deuda a Corto | 0 | 0 | 0 | $317000 | 0 | $266000 | $8.8M | $4.0M | $5.5M | $430000 |
| Pasivos Corrientes | $2.9M | $3.0M | $5.2M | $5.2M | $7.0M | $14.4M | $19.4M | $12.5M | $16.6M | $9.3M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | $18.1M | $24.6M | $23.5M | $30.7M |
| Pasivos Totales | $10.4M | $3.0M | $5.2M | $5.7M | $7.3M | $15.2M | $39.2M | $38.2M | $46.9M | $42.2M |
| Reservas | -$55.0M | -$71.0M | -$89.3M | -$110.1M | -$143.2M | -$222.0M | -$285.9M | -$349.4M | -$390.3M | -$452.1M |
| Patrimonio Neto | -$6.5M | $3.9M | $8.9M | $18.9M | $28.2M | $85.5M | $80.0M | $58.1M | $72.0M | $67.9M |
| Deuda Total | 0 | 0 | 0 | $772000 | $532000 | $287000 | $28.0M | $29.5M | $30.2M | $31.7M |
| Deuda Neta | -$1.3M | -$4.0M | -$11.0M | -$19.8M | -$28.1M | -$35.7M | -$21.3M | -$7.3M | $1.7M | $5.5M |
| Capital Circulante | $11000 | $3.0M | $8.1M | $17.7M | $27.1M | $31.2M | $46.2M | $34.8M | $23.9M | $25.5M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $32.1M | $26.2M | $20.3M | $6.6M |
| Activos Totales | $117.7M | $110.1M | $103.3M | $96.6M |
| Pasivos Totales | $42.8M | $42.2M | $40.9M | $41.5M |
| Patrimonio Neto | $74.9M | $67.9M | $62.4M | $55.1M |
| Deuda Total | $31.6M | $31.7M | $31.8M | $32.4M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$10.9M | -$15.7M | -$17.8M | -$17.7M | -$29.4M | -$76.8M | -$62.2M | -$59.4M | -$42.7M | -$41.7M |
| Amortizaciones | $387000 | $195000 | $207000 | $183000 | $457000 | $4.5M | $4.7M | $5.0M | $7.4M | $2.8M |
| Compensación en Acciones | $1.0M | $3.8M | $3.8M | $2.3M | $11.1M | $25.0M | $17.0M | $19.7M | $15.8M | $9.4M |
| Cambio en Capital Circulante | $1.1M | -$77000 | $2.4M | -$429000 | $150000 | -$2.6M | -$10.9M | $4.1M | -$2.5M | $2.2M |
| Flujo de Caja Operativo | -$8.4M | -$10.6M | -$11.5M | -$15.7M | -$17.7M | -$50.4M | -$47.8M | -$30.4M | -$38.6M | -$25.9M |
| Inversiones (CapEx) | -$808000 | -$195000 | -$71000 | -$98000 | -$118000 | -$261000 | -$573000 | -$584000 | -$138000 | -$142000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | -$7.5M | 0 | 0 | -$8.8M | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | -$134000 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$9.2M | -$10.8M | -$11.5M | -$15.8M | -$17.9M | -$50.7M | -$48.4M | -$31.0M | -$38.7M | -$26.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$7.3M | -$5.9M | -$6.0M | -$5.5M |
| Inversiones (CapEx) | -$41000 | -$26000 | -$31000 | -$38000 |
| Flujo de Caja Libre | -$7.4M | -$5.9M | -$6.1M | -$5.5M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | $2.0M | $1.4M | $632000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +84.4% | +43.0% | +2.2% | +0.2% | +170.8% | +34.8% | -26.4% | +32.9% | -17.3% |
| Crecimiento Beneficio Neto (anual) | | -44.6% | -13.1% | +0.4% | -66.0% | -160.7% | +19.0% | +4.4% | +28.1% | +2.4% |
| Crecimiento BPA (anual) | | +21.9% | +53.5% | +48.5% | +29.2% | +16.6% | +43.2% | +26.6% | +61.7% | -9.5% |
| Cambio en Acciones (anual) | | +85.1% | +143.2% | +93.6% | +163.1% | +178.2% | +42.5% | +20.0% | +42.5% | +22.8% |
| Crecimiento FCF (anual) | | -17.7% | -6.7% | -37.1% | -12.8% | -183.8% | +4.4% | +36.1% | -25.0% | +32.6% |
| Margen Bruto | -20.0% | 25.4% | 23.9% | 34.4% | 33.2% | 39.3% | 34.9% | 29.4% | 49.1% | 56.6% |
| Margen Operativo | -396.0% | -278.9% | -239.2% | -234.2% | -394.7% | -372.9% | -205.4% | -276.1% | -213.6% | -163.9% |
| Margen EBITDA | -372.6% | -275.1% | -236.4% | -231.8% | -392.2% | -341.3% | -201.0% | -267.2% | -137.1% | -155.2% |
| Margen Neto | -388.4% | -304.5% | -240.8% | -234.6% | -388.7% | -374.2% | -224.9% | -292.0% | -158.1% | -186.6% |
| Margen FCF | -327.8% | -209.2% | -156.1% | -209.3% | -235.7% | -247.0% | -175.1% | -152.1% | -143.1% | -116.7% |
| Tasa Impositiva Efectiva | -0.5% | -0.0% | 0.6% | -0.0% | -0.0% | -0.0% | -0.0% | -0.1% | 4.2% | -0.3% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-35.31 | $-22.46 | $-9.86 | $-6.98 | $-2.99 | $-3.05 | $-2.05 | $-1.09 | $-0.96 | $-0.53 |
| 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) | $260148 | $481412 | $1.2M | $2.3M | $6.0M | $16.6M | $23.6M | $28.4M | $40.4M | $49.6M |
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 | 104.15% |
| Rentabilidad sobre capital invertido | -78.42% |
| Rentabilidad sobre activos | 70.17% |
| Margen bruto | 56.09% |
| Margen operativo | -328.83% |
| Margen neto | 322.77% |
Salud financiera
| Deuda / Patrimonio | 0.59 |
| Ratio corriente | 2.31 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 1.67 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -31.06 | -19.60 | -20.41 | -16.73 | -51.50 | -56.03 | -32.55 | -17.82 | -21.24 | -14.05 |
| P/VC | -51.70 | 78.28 | 40.71 | 15.74 | 60.54 | 50.31 | 25.29 | 16.79 | 8.82 | 8.32 |
| P/V | 120.65 | 59.67 | 49.14 | 39.33 | 224.96 | 209.81 | 73.15 | 47.96 | 23.50 | 25.26 |
| Margen Bruto | -20.0% | 25.4% | 23.9% | 34.4% | 33.2% | 39.3% | 34.9% | 29.4% | 49.1% | 56.6% |
| Margen Operativo | -396.0% | -278.9% | -239.2% | -234.2% | -394.7% | -372.9% | -205.4% | -276.1% | -213.6% | -163.9% |
| Margen Neto | -388.4% | -304.5% | -240.8% | -234.6% | -388.7% | -374.2% | -224.9% | -292.0% | -158.1% | -186.6% |