Estados financieros detallados de SeaStar Medical Holding Corporation (ICU): 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 92.6%, margen operativo -8.2%, margen neto -8.0%.
Al precio actual de $3.08, ICU presenta beneficios negativos (P/E no significativo) y un ROE del -162.75%. La capitalización bursátil es de $9M.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | $135000 | $1.2M |
| Coste de Ventas | 0 | 0 | 0 | 0 | 0 | $53000 |
| Beneficio Bruto | 0 | 0 | 0 | 0 | $135000 | $1.2M |
| I+D | $4.0M | $2.8M | $2.5M | $6.0M | $9.1M | $7.5M |
| Generales y Administrativos | $2.4M | $1.7M | $6.9M | $8.0M | $8.9M | $5.8M |
| Gastos Operativos | $6.5M | $4.4M | $11.6M | $14.2M | $18.0M | $13.4M |
| Beneficio Operativo | -$6.5M | -$4.4M | -$11.6M | -$14.2M | -$17.8M | -$12.2M |
| EBITDA | 0 | -$4.4M | -$11.6M | -$11.1M | -$24.6M | -$12.2M |
| Gastos por Intereses | $3.3M | $212000 | $630000 | $1.1M | $244000 | $329000 |
| Beneficio Antes de Impuestos | -$3.3M | -$4.6M | -$12.2M | -$26.2M | -$24.8M | -$12.1M |
| Impuestos | $9000 | -$1000 | $1000 | 0 | $3000 | $3000 |
| Beneficio Neto | -$3.3M | -$4.6M | -$12.2M | -$26.2M | -$24.8M | -$12.2M |
| BPA | $-0.10 | $-88.10 | $-233.80 | $-302.62 | $-66.30 | $-5.86 |
| BPA Diluido | $-0.10 | $-88.10 | $-233.80 | $-302.62 | $-66.30 | $-5.86 |
| Acciones en Circulación (Diluidas) | $52164 | $52164 | $52134 | $86681 | $374400 | $20.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $183000 | $420000 | $495000 | $615000 |
| Beneficio Bruto | $169000 | $408000 | $449000 | $561000 |
| Beneficio Operativo | -$3.6M | -$3.0M | -$3.6M | -$3.8M |
| EBITDA | -$3.5M | -$2.9M | -$3.6M | -$3.7M |
| Beneficio Neto | -$3.5M | -$2.9M | -$3.5M | -$3.7M |
| BPA | $-1.30 | $-0.80 | $-0.90 | $-0.91 |
| BPA Diluido | $-1.30 | $-0.80 | $-0.90 | $-0.91 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $2.8M | $510000 | $47000 | $176000 | $1.8M | $12.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | $58000 | 0 | 0 | $112000 | $237000 |
| Inventario | $55000 | 0 | 0 | 0 | 0 | $66000 |
| Activos Corrientes | $2.9M | $601000 | $1.5M | $2.3M | $3.8M | $13.6M |
| Inmovilizado Material | 0 | 0 | 0 | 0 | 0 | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $2.9M | $603000 | $3.0M | $3.5M | $4.7M | $14.2M |
| Cuentas por Pagar | $382000 | $85000 | $1.9M | $4.4M | $3.0M | $948000 |
| Deuda a Corto | $20000 | $2.4M | $1.2M | $4.7M | $574000 | $525000 |
| Pasivos Corrientes | $1.1M | $3.1M | $16.1M | $13.0M | $6.8M | $3.7M |
| Deuda a Largo | $63000 | $244000 | $7.7M | $4.3M | 0 | 0 |
| Pasivos Totales | $74.5M | $3.4M | $23.8M | $17.4M | $6.8M | $3.7M |
| Reservas | -$71.7M | -$76.3M | -$88.5M | -$114.7M | -$139.6M | -$151.7M |
| Patrimonio Neto | -$71.6M | -$2.8M | -$20.8M | -$13.9M | -$2.2M | $10.4M |
| Deuda Total | $83000 | $2.6M | $8.8M | $9.1M | $574000 | $525000 |
| Deuda Neta | -$2.7M | $2.1M | $8.8M | $8.9M | -$1.2M | -$11.5M |
| Capital Circulante | $1.8M | -$2.5M | -$14.6M | -$10.7M | -$3.1M | $9.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $13.8M | $12.0M | $9.3M | $7.0M |
| Activos Totales | $15.5M | $14.2M | $11.3M | $8.6M |
| Pasivos Totales | $4.1M | $3.7M | $3.9M | $4.4M |
| Patrimonio Neto | $11.5M | $10.4M | $7.3M | $4.3M |
| Deuda Total | 0 | $525000 | $331000 | 0 |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$3.3M | -$4.6M | -$12.2M | -$26.2M | -$24.8M | -$12.2M |
| Amortizaciones | 0 | 0 | 0 | 0 | 0 | $18000 |
| Compensación en Acciones | 0 | $14000 | $1.3M | $1.9M | $887000 | $624000 |
| Cambio en Capital Circulante | $890000 | -$680000 | $2.6M | $2.9M | $992000 | -$2.4M |
| Flujo de Caja Operativo | -$5.6M | -$5.1M | -$7.8M | -$10.3M | -$16.0M | -$13.6M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$5.6M | -$5.1M | -$7.8M | -$10.3M | -$16.0M | -$13.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$3.8M | -$4.1M | -$2.8M | -$3.0M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$3.8M | -$4.1M | -$2.8M | -$3.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $290000 | $70000 | $91000 | -$99000 |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | | +814.1% |
| Crecimiento Beneficio Neto (anual) | | -40.3% | -165.2% | -115.2% | +5.3% | +51.1% |
| Crecimiento BPA (anual) | | -88000.0% | -165.4% | -29.4% | +78.1% | +91.2% |
| Cambio en Acciones (anual) | | +0.0% | -0.1% | +66.3% | +331.9% | +5437.1% |
| Crecimiento FCF (anual) | | +8.2% | -52.4% | -32.0% | -55.6% | +15.0% |
| Margen Bruto | | | | | 100.0% | 95.7% |
| Margen Operativo | | | | | -13216.3% | -986.6% |
| Margen EBITDA | | | | | -18209.6% | -985.2% |
| Margen Neto | | | | | -18392.6% | -984.6% |
| Margen FCF | | | | | -11857.0% | -1102.0% |
| Tasa Impositiva Efectiva | -0.3% | 0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-106.82 | $-98.04 | $-149.50 | $-118.65 | $-42.75 | $-0.66 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $52164 | $52164 | $52132 | $86681 | $374400 | $20.7M |
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 | -162.75% |
| Rentabilidad sobre capital invertido | -325.63% |
| Rentabilidad sobre activos | -157.56% |
| Margen bruto | 92.64% |
| Margen operativo | -816.64% |
| Margen neto | -795.50% |
Salud financiera
| Deuda / Patrimonio | 0.00 |
| Ratio corriente | 1.89 |
| Piotroski F-Score | 3 |
| Altman Z-Score | -8.94 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -25675.00 | -29.14 | -4.38 | -0.37 | -0.29 | -0.41 |
| P/VC | -1.87 | -47.56 | -2.57 | -0.69 | -3.33 | 4.78 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 53.80 | 40.32 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 100.0% | 95.7% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | -13216.3% | -986.6% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | -18392.6% | -984.6% |