Estados financieros detallados de GH Research PLC (GHRS): 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 $27.75, GHRS presenta beneficios negativos (P/E no significativo) y un ROE del -20.86%. La capitalización bursátil es de $1.9B.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | 0 | 0 | 0 | 0 | 0 | 0 | $335000 |
| Beneficio Bruto | 0 | 0 | 0 | 0 | 0 | 0 | -$335000 |
| I+D | $296000 | $338000 | $8.6M | $20.5M | $29.8M | $35.0M | $38.7M |
| Generales y Administrativos | $14000 | $108000 | $6.5M | $10.1M | $11.1M | $15.0M | $21.6M |
| Gastos Operativos | $310000 | $446000 | $15.1M | $30.6M | $41.2M | $50.3M | $60.3M |
| Beneficio Operativo | -$310000 | -$446000 | -$15.1M | -$30.6M | -$41.2M | -$50.3M | -$60.7M |
| EBITDA | 0 | 0 | -$9.2M | -$22.4M | -$35.2M | -$38.6M | -$47.5M |
| Gastos por Intereses | 0 | 0 | $9000 | | $723000 | $717000 | $462999 |
| Beneficio Antes de Impuestos | -$310000 | -$446000 | -$9.2M | -$22.5M | -$35.6M | -$39.0M | -$48.3M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$310000 | -$446000 | -$9.2M | -$22.5M | -$35.6M | -$39.0M | -$48.3M |
| BPA | $-0.01 | $-0.01 | $-0.18 | $-0.14 | $-0.68 | $-0.75 | $-0.79 |
| BPA Diluido | $-0.01 | $-0.01 | $-0.18 | $-0.14 | $-0.68 | $-0.75 | $-0.79 |
| Acciones en Circulación (Diluidas) | $28.0M | $30.4M | $52.0M | $52.0M | $52.0M | $52.0M | $61.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$89000 | -$87999 | -$90999 | 0 |
| Beneficio Operativo | -$16.5M | -$16.7M | -$18.7M | -$19.5M |
| EBITDA | -$13.9M | -$14.0M | -$18.8M | -$15.0M |
| Beneficio Neto | -$14.0M | -$14.1M | -$19.0M | -$15.1M |
| BPA | $-0.23 | $-0.23 | $-0.31 | $-0.23 |
| BPA Diluido | $-0.23 | $-0.23 | $-0.31 | $-0.23 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $498000 | $5.9M | $276.8M | $166.0M | $78.4M | $100.8M | $246.3M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | $83.1M | $48.5M | $34.5M |
| Cuentas por Cobrar | 0 | $6000 | $48000 | $90000 | $178000 | $1.7M | $1.3M |
| Inventario | 0 | 0 | $3.0M | 0 | 0 | 0 | 0 |
| Activos Corrientes | $504000 | $5.9M | $279.8M | $168.5M | $164.1M | $154.2M | $286.0M |
| Inmovilizado Material | 0 | 0 | $82000 | $97000 | $1.1M | $748000 | $620000 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $504000 | $5.9M | $279.9M | $254.4M | $226.3M | $188.3M | $288.2M |
| Cuentas por Pagar | $93000 | $1000 | $883000 | $1.9M | $3.5M | $3.7M | $3.8M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $104000 | $246000 | $2.7M | $4.5M | $6.7M | $9.0M | $8.4M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $104000 | $246000 | $2.7M | $4.5M | $7.3M | $9.3M | $8.5M |
| Reservas | -$389000 | -$835000 | -$10.0M | -$32.5M | -$67.9M | -$106.4M | -$154.4M |
| Patrimonio Neto | $400000 | $5.7M | $277.2M | $249.8M | $219.0M | $179.0M | $279.7M |
| Deuda Total | 0 | 0 | 0 | 0 | $974000 | $624000 | $512000 |
| Deuda Neta | -$498000 | -$5.9M | -$276.8M | -$166.0M | -$160.6M | -$148.7M | -$280.2M |
| Capital Circulante | $400000 | $5.7M | $277.1M | $164.0M | $157.4M | $145.3M | $277.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $249.7M | $246.3M | $242.7M | $345.1M |
| Activos Totales | $302.0M | $288.2M | $275.3M | $372.3M |
| Pasivos Totales | $10.6M | $8.5M | $11.9M | $12.9M |
| Patrimonio Neto | $291.4M | $279.7M | $263.4M | $359.5M |
| Deuda Total | $582000 | $512000 | $432000 | $360000 |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$310000 | -$446000 | -$9.2M | -$22.5M | -$35.6M | -$39.0M | -$48.3M |
| Amortizaciones | 0 | 0 | $19000 | $47000 | $315000 | $315000 | $335000 |
| Compensación en Acciones | 0 | 0 | $366000 | $1.7M | $2.3M | $1.2M | 0 |
| Cambio en Capital Circulante | $21000 | $116000 | -$559000 | $2.2M | $1.6M | $188000 | -$3.1M |
| Flujo de Caja Operativo | -$289000 | -$330000 | -$15.3M | -$26.2M | -$33.3M | -$42.3M | -$43.6M |
| Inversiones (CapEx) | 0 | 0 | -$104000 | -$67000 | -$100000 | -$49000 | -$121000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$289000 | -$330000 | -$15.4M | -$26.3M | -$33.4M | -$42.3M | -$43.7M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$14.4M | -$12.3M | -$10.7M | -$15.0M |
| Inversiones (CapEx) | -$41266 | -$18091 | -$63000 | -$17000 |
| Flujo de Caja Libre | -$14.5M | -$12.3M | -$10.7M | -$15.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | 0 | 0 | 0 | $2.2M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Beneficio Neto (anual) | | -43.9% | -1963.2% | -144.0% | -58.5% | -9.5% | -23.9% |
| Crecimiento BPA (anual) | | -32.4% | -1124.5% | +22.2% | -385.7% | -10.3% | -5.3% |
| Cambio en Acciones (anual) | | +8.5% | +71.3% | +0.0% | +0.0% | +0.0% | +17.3% |
| Crecimiento FCF (anual) | | -14.2% | -4562.7% | -70.7% | -27.3% | -26.6% | -3.2% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.01 | $-0.01 | $-0.30 | $-0.50 | $-0.64 | $-0.81 | $-0.72 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $28.0M | $30.4M | $52.0M | $52.0M | $52.0M | $52.0M | $61.0M |
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 | -20.86% |
| Rentabilidad sobre capital invertido | -19.85% |
| Rentabilidad sobre activos | -16.72% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 28.70 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1734.23 | -1309.52 | -129.61 | -69.43 | -8.53 | -9.33 | -16.08 |
| P/VC | 1347.50 | 103.18 | 4.38 | 2.02 | 1.38 | 2.04 | 2.77 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |