Estados financieros detallados de IceCure Medical Ltd (ICCM): 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
IceCure Medical Ltd registró ingresos de $3.4M en el último ejercicio fiscal, con un CAGR de 5 años del -2.7%.
Márgenes de los últimos 12 meses: margen bruto 36.1%, margen operativo -5.6%, margen neto -427.7%.
Al precio actual de $2.06, ICCM presenta beneficios negativos (P/E no significativo) y un ROE del -174.26%. La capitalización bursátil es de $5M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $625487 | $689377 | $1.1M | $1.7M | $3.9M | $4.1M | $3.1M | $3.2M | $3.3M | $3.4M |
| Coste de Ventas | $403993 | $514443 | $623174 | $1.1M | $1.4M | $1.9M | $1.6M | $1.9M | $1.8M | $2.2M |
| Beneficio Bruto | $221494 | $174934 | $448728 | $576413 | $2.4M | $2.2M | $1.4M | $1.3M | $1.5M | $1.2M |
| I+D | $1.7M | $1.5M | $1.9M | $2.8M | $3.8M | $5.9M | $9.1M | $8.3M | $7.1M | $7.4M |
| Generales y Administrativos | $1.7M | $1.3M | $1.7M | $2.3M | $2.8M | $6.0M | $9.1M | $8.6M | $10.1M | $8.9M |
| Gastos Operativos | $3.3M | $2.8M | $3.6M | $5.2M | $6.6M | $11.9M | $18.2M | $16.9M | $17.1M | $16.3M |
| Beneficio Operativo | -$3.1M | -$2.7M | -$3.2M | -$4.6M | -$4.1M | -$9.7M | -$16.7M | -$15.6M | -$15.7M | -$15.1M |
| EBITDA | -$3.0M | -$2.8M | -$3.4M | -$4.6M | -$4.1M | -$9.6M | -$16.5M | -$15.3M | -$15.4M | -$14.8M |
| Gastos por Intereses | $154942 | $61162 | $73151 | $22813 | $38673 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$3.3M | -$2.9M | -$3.5M | -$4.8M | -$3.7M | -$9.9M | -$17.0M | -$14.7M | -$15.3M | -$15.1M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$3.3M | -$2.9M | -$3.5M | -$4.8M | -$3.7M | -$9.9M | -$17.0M | -$14.7M | -$15.3M | -$15.1M |
| BPA | $-18.60 | $-13.80 | $-9.00 | $-10.50 | $-8.40 | $-10.20 | $-13.69 | $-9.60 | $-9.00 | $-7.10 |
| BPA Diluido | $-18.60 | $-13.80 | $-9.00 | $-10.50 | $-8.40 | $-10.20 | $-13.69 | $-9.60 | $-9.00 | $-7.10 |
| Acciones en Circulación (Diluidas) | $176705 | $208685 | $388931 | $454043 | $570963 | $969848 | $1.2M | $1.5M | $1.7M | $2.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $850000 | $1.3M | $911000 | $907000 |
| Beneficio Bruto | $277000 | $600000 | $295000 | $253000 |
| Beneficio Operativo | -$17.9M | -$4.2M | -$4.2M | $4.4M |
| EBITDA | -$3.8M | -$4.1M | -$4.2M | -$4.4M |
| Beneficio Neto | -$3.9M | -$4.2M | -$4.3M | -$4.5M |
| BPA | $-1.77 | $-1.75 | $-1.74 | $-1.46 |
| BPA Diluido | $-1.81 | $-1.75 | $-1.74 | $-1.46 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $2.8M | $1.5M | $4.2M | $5.8M | $3.5M | $25.6M | $23.7M | $10.5M | $7.6M | $8.9M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | $4.7M | 0 | 0 | $529000 | 0 | 0 |
| Cuentas por Cobrar | $65772 | $2 | $250384 | $2 | $165000 | $771000 | $366000 | $228000 | $409000 | $331000 |
| Inventario | $319502 | $300379 | $653178 | $717338 | $1.1M | $2.0M | $2.9M | $2.3M | $2.0M | $2.6M |
| Activos Corrientes | $3.2M | $1.9M | $5.2M | $6.9M | $9.6M | $30.3M | $28.1M | $14.2M | $10.8M | $12.6M |
| Inmovilizado Material | $61872 | $43733 | $73814 | $377440 | $613000 | $1.6M | $2.0M | $2.2M | $1.8M | $1.2M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $3.3M | $1.9M | $5.3M | $7.3M | $10.2M | $32.3M | $30.2M | $16.4M | $12.6M | $13.9M |
| Cuentas por Pagar | $124785 | $152491 | $452976 | $425667 | $645000 | $881000 | $714000 | $502000 | $1.2M | $863000 |
| Deuda a Corto | 0 | $936241 | 0 | 0 | $214000 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $557115 | $1.6M | $1.2M | $3.6M | $3.7M | $4.0M | $4.3M | $3.9M | $5.5M | $4.8M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Totales | $1.2M | $2.2M | $1.9M | $4.7M | $4.6M | $5.3M | $4.8M | $4.2M | $5.7M | $4.8M |
| Reservas | -$33.3M | -$39.8M | -$40.2M | -$48.5M | -$48.5M | -$58.4M | -$75.4M | -$90.1M | -$105.4M | -$120.4M |
| Patrimonio Neto | $2.1M | -$256934 | $3.4M | $2.6M | $5.6M | $27.0M | $25.4M | $12.2M | $6.9M | $9.1M |
| Deuda Total | 0 | $936241 | 0 | $245177 | $332000 | $909000 | $597000 | $599000 | $459000 | $217000 |
| Deuda Neta | -$2.8M | -$521061 | -$4.2M | -$5.5M | -$7.8M | -$24.7M | -$23.1M | -$10.5M | -$7.1M | -$8.7M |
| Capital Circulante | $2.7M | $289447 | $4.0M | $3.3M | $5.9M | $26.3M | $23.8M | $10.3M | $5.2M | $7.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $5.0M | $8.9M | $8.1M | $12.0M |
| Activos Totales | $15.1M | $13.9M | $13.3M | $17.7M |
| Pasivos Totales | $5.8M | $4.8M | $4.8M | $5.8M |
| Patrimonio Neto | $9.3M | $9.1M | $8.5M | $11.9M |
| Deuda Total | $288000 | $217000 | $139000 | $90000 |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$3.3M | -$2.9M | -$3.5M | -$4.8M | -$3.7M | -$9.9M | -$17.0M | -$14.7M | -$15.3M | -$15.1M |
| Amortizaciones | $54073 | $33375 | $30800 | $155365 | $63000 | $127000 | $248000 | $323000 | $332000 | $295000 |
| Compensación en Acciones | $14818 | $115375 | $209760 | $363578 | $229000 | $316000 | $1.9M | $1.3M | $869000 | $1.4M |
| Cambio en Capital Circulante | -$86830 | $20428 | $9559 | $2.6M | $200000 | -$3.2M | $214000 | $523000 | $1.5M | -$1.1M |
| Flujo de Caja Operativo | -$3.1M | -$2.6M | -$3.1M | -$1.7M | -$3.7M | -$12.6M | -$14.3M | -$12.5M | -$12.6M | -$14.6M |
| Inversiones (CapEx) | -$22877 | -$8632 | -$64256 | -$102229 | -$222999 | -$533000 | -$891000 | -$480000 | -$71000 | -$36000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | -$4.5M | 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 | -$3.2M | -$2.6M | -$3.1M | -$1.8M | -$3.9M | -$13.1M | -$15.2M | -$13.0M | -$12.6M | -$14.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$2.7M | -$5.5M | -$4.3M | -$3.9M |
| Inversiones (CapEx) | -$3000 | -$5771 | -$51000 | -$10000 |
| Flujo de Caja Libre | -$2.7M | -$5.5M | -$4.3M | -$3.9M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $807000 | 0 | 0 | $121000 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +10.2% | +55.5% | +54.6% | +133.3% | +7.0% | -25.4% | +4.7% | +1.9% | +2.7% |
| Crecimiento Beneficio Neto (anual) | | +12.1% | -22.9% | -34.7% | +21.6% | -165.3% | -71.6% | +13.7% | -4.5% | +1.7% |
| Crecimiento BPA (anual) | | +25.8% | +34.8% | -16.7% | +20.0% | -21.4% | -34.2% | +29.9% | +6.2% | +21.1% |
| Cambio en Acciones (anual) | | +18.1% | +86.4% | +16.7% | +25.8% | +69.9% | +27.9% | +22.6% | +11.5% | +25.0% |
| Crecimiento FCF (anual) | | +16.5% | -18.8% | +41.0% | -112.2% | -235.8% | -15.6% | +14.4% | +2.8% | -15.6% |
| Margen Bruto | 35.4% | 25.4% | 41.9% | 34.8% | 63.2% | 53.0% | 46.8% | 40.3% | 44.1% | 36.3% |
| Margen Operativo | -496.2% | -386.6% | -295.8% | -278.0% | -107.1% | -235.0% | -542.6% | -482.4% | -476.9% | -446.7% |
| Margen EBITDA | -485.0% | -399.0% | -319.2% | -277.2% | -105.5% | -230.9% | -534.8% | -472.4% | -466.8% | -438.0% |
| Margen Neto | -522.8% | -417.2% | -329.7% | -287.2% | -96.4% | -239.1% | -550.3% | -453.8% | -465.5% | -445.6% |
| Margen FCF | -504.3% | -382.0% | -291.8% | -111.3% | -101.2% | -317.5% | -492.2% | -402.6% | -383.9% | -432.4% |
| Tasa Impositiva Efectiva | -0.0% | -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 | $-17.85 | $-12.62 | $-8.04 | $-4.06 | $-6.85 | $-13.55 | $-12.24 | $-8.55 | $-7.45 | $-6.89 |
| 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) | $176705 | $208685 | $388931 | $454043 | $570963 | $969848 | $1.2M | $1.5M | $1.7M | $2.1M |
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 | -174.26% |
| Rentabilidad sobre capital invertido | -183.21% |
| Rentabilidad sobre activos | -95.33% |
| Margen bruto | 36.10% |
| Margen operativo | -556.35% |
| Margen neto | -427.67% |
Salud financiera
| Deuda / Patrimonio | 0.01 |
| Ratio corriente | 2.87 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -17.58 | -23.70 | -36.33 | -31.14 | -38.93 | -8.97 | -3.40 | -3.34 | -3.67 | -2.58 |
| P/VC | 27.48 | -265.59 | 37.78 | 56.53 | 33.06 | 3.29 | 2.27 | 4.01 | 8.11 | 4.28 |
| P/V | 92.38 | 98.99 | 118.65 | 89.57 | 48.27 | 21.45 | 18.70 | 15.12 | 17.01 | 11.48 |
| Margen Bruto | 35.4% | 25.4% | 41.9% | 34.8% | 63.2% | 53.0% | 46.8% | 40.3% | 44.1% | 36.3% |
| Margen Operativo | -496.2% | -386.6% | -295.8% | -278.0% | -107.1% | -235.0% | -542.6% | -482.4% | -476.9% | -446.7% |
| Margen Neto | -522.8% | -417.2% | -329.7% | -287.2% | -96.4% | -239.1% | -550.3% | -453.8% | -465.5% | -445.6% |