Estados financieros detallados de Nanobiotix S.A. (NBTX): 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
Nanobiotix S.A. registró ingresos de $29.6M en el último ejercicio fiscal, con un CAGR de 5 años del 66.4%.
Márgenes de los últimos 12 meses: margen bruto 100.0%, margen operativo -36.5%, margen neto -80.8%.
Al precio actual de $34.40, NBTX presenta beneficios negativos (P/E no significativo) y un ROE del 31.23%. La capitalización bursátil es de $1.7B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $5.4M | $3.7M | $3.5M | $2.5M | $2.3M | $2.6M | $4.8M | $36.2M | -$7.2M | $29.6M |
| Coste de Ventas | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Bruto | $5.4M | $3.7M | $3.5M | $2.5M | $2.3M | $2.6M | $4.8M | $36.2M | -$7.2M | $29.6M |
| I+D | $16.9M | $17.7M | $20.9M | $30.4M | $24.3M | $30.4M | $32.6M | $38.4M | $40.5M | $23.1M |
| Generales y Administrativos | $10.4M | $11.3M | $12.7M | $18.9M | $14.6M | $19.4M | $17.9M | $22.0M | $20.5M | $20.2M |
| Gastos Operativos | $27.3M | $29.0M | $33.5M | $49.3M | $38.8M | $55.2M | $51.5M | $63.0M | $61.2M | $40.5M |
| Beneficio Operativo | -$21.9M | -$25.3M | -$30.1M | -$46.8M | -$36.4M | -$52.6M | -$46.7M | -$26.8M | -$68.4M | -$10.8M |
| EBITDA | -$21.4M | -$24.8M | -$29.4M | -$45.0M | -$34.9M | -$45.6M | -$44.2M | -$23.7M | -$67.7M | -$12.1M |
| Gastos por Intereses | $102203 | $108367 | $847000 | $4.8M | $333000 | $699490 | $5.8M | $8.0M | $8.1M | $10.4M |
| Beneficio Antes de Impuestos | -$21.8M | -$26.1M | -$30.3M | -$50.9M | -$33.6M | -$47.0M | -$57.0M | -$39.6M | -$68.0M | -$24.0M |
| Impuestos | $90425 | 0 | 0 | $3000 | $9000 | $5000 | $10000 | $120000 | $101000 | $3000 |
| Beneficio Neto | -$21.9M | -$26.1M | -$30.3M | -$50.9M | -$33.6M | -$47.0M | -$57.0M | -$39.7M | -$68.1M | -$24.0M |
| BPA | $-1.43 | $-1.50 | $-1.52 | $-2.35 | $-1.38 | $-1.35 | $-1.64 | $-1.08 | $-1.44 | $-0.50 |
| BPA Diluido | $-1.43 | $-1.50 | $-1.52 | $-2.35 | $-1.38 | $-1.35 | $-1.64 | $-1.08 | $-1.44 | $-0.50 |
| Acciones en Circulación (Diluidas) | $15.3M | $17.5M | $19.6M | $21.6M | $24.4M | $34.7M | $34.9M | $36.9M | $47.3M | $47.8M |
Cuenta de Resultados (Trimestral)
| Año | 2024-Q2 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Ingresos | $9.3M | -$16.5M | $26.6M | $3.0M |
| Beneficio Bruto | $9.3M | -$16.5M | $26.6M | $3.0M |
| Beneficio Operativo | -$23.7M | -$44.7M | $808000 | -$11.6M |
| EBITDA | -$22.7M | -$44.4M | $1.1M | -$13.2M |
| Beneficio Neto | -$21.9M | -$46.3M | -$5.4M | -$18.6M |
| BPA | $-0.46 | $-0.98 | $-0.11 | $-0.39 |
| BPA Diluido | $-0.46 | $-0.98 | $-0.11 | $-0.39 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $21.1M | $47.2M | $36.2M | $35.1M | $119.2M | $83.9M | $41.4M | $75.3M | $49.7M | $52.8M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $5207 | $844000 | $997000 | $1.3M | $3.9M | $3.9M | $2.8M | $3.0M | $8.5M | $7.7M |
| Inventario | -$5.0M | -$4.9M | $1.1M | $2.7M | 0 | 0 | $3.0M | $200000 | 0 | 0 |
| Activos Corrientes | $26.9M | $53.1M | $42.7M | $46.1M | $125.2M | $93.1M | $52.4M | $87.3M | $61.5M | $62.8M |
| Inmovilizado Material | $2.4M | $3.0M | $2.9M | $9.4M | $8.3M | $8.2M | $7.1M | $6.1M | $5.5M | $4.6M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $4453 | $135968 | $102000 | $163000 | $21000 | $4000 | $1000 | $8000 | $7000 | $10000 |
| Activos Totales | $30.4M | $57.5M | $46.2M | $56.2M | $134.0M | $101.8M | $59.8M | $93.9M | $67.4M | $67.8M |
| Cuentas por Pagar | $4.4M | $5.1M | $4.5M | $6.2M | $5.6M | $5.0M | $4.0M | $6.7M | $4.5M | $6.6M |
| Deuda a Corto | $1.1M | $770000 | $500000 | $500000 | $3.7M | $7.1M | $3.6M | $3.8M | $3.7M | $3.1M |
| Pasivos Corrientes | $8.2M | $9.4M | $11.6M | $14.3M | $19.0M | $36.8M | $37.9M | $49.9M | $58.9M | $57.5M |
| Deuda a Largo | $4.6M | $3.7M | $20.0M | $37.6M | $39.1M | $32.4M | $44.0M | $41.7M | $43.0M | $89.1M |
| Pasivos Totales | $13.0M | $13.5M | $32.0M | $58.1M | $63.6M | $75.0M | $86.8M | $95.7M | $133.1M | $152.2M |
| Reservas | -$21.9M | -$26.1M | -$30.3M | -$50.9M | -$33.6M | -$47.0M | -$57.0M | -$39.7M | -$68.1M | -$24.0M |
| Patrimonio Neto | $17.4M | $43.9M | $14.2M | -$1.9M | $70.5M | $26.8M | -$27.0M | -$1.8M | -$65.7M | -$84.5M |
| Deuda Total | $5.7M | $4.7M | $20.5M | $44.5M | $49.0M | $46.0M | $53.2M | $50.6M | $50.9M | $95.3M |
| Deuda Neta | -$15.4M | -$42.5M | -$15.7M | $9.4M | -$70.2M | -$38.1M | $11.8M | -$24.7M | $1.2M | $42.6M |
| Capital Circulante | $18.6M | $43.8M | $31.1M | $31.8M | $106.2M | $56.2M | $14.4M | $37.5M | $2.5M | $5.2M |
Balance (Trimestral)
| Año | 2024-Q2 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Caja y Equivalentes | $66.3M | $49.7M | $28.8M | $52.8M |
| Activos Totales | $86.7M | $67.4M | $45.2M | $67.8M |
| Pasivos Totales | $108.5M | $133.1M | $114.1M | $152.2M |
| Patrimonio Neto | -$21.8M | -$65.7M | -$69.0M | -$84.5M |
| Deuda Total | $49.2M | $50.9M | $51.2M | $95.3M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$21.9M | -$26.1M | -$30.3M | -$50.9M | -$33.6M | -$47.0M | -$57.0M | -$39.7M | -$68.1M | -$24.0M |
| Amortizaciones | $482794 | $489000 | $619000 | $2.0M | $1.8M | $1.6M | $1.5M | $1.5M | $1.6M | $1.5M |
| Compensación en Acciones | $2.0M | $2.6M | $1.9M | $4.3M | $2.9M | $3.2M | $3.2M | $3.3M | $4.3M | $3.5M |
| Cambio en Capital Circulante | $409577 | $908000 | $445000 | -$3.6M | $6.8M | -$4.7M | -$606000 | -$367000 | $131000 | -$3.4M |
| Flujo de Caja Operativo | -$18.3M | -$20.9M | -$26.0M | -$41.2M | -$27.5M | -$29.9M | -$37.1M | -$12.5M | -$19.6M | -$33.4M |
| Inversiones (CapEx) | -$400101 | -$1.3M | -$416000 | -$1.1M | -$96000 | -$228000 | -$92000 | -$328000 | -$846000 | -$546000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 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 | -$18.7M | -$22.3M | -$26.4M | -$42.3M | -$27.6M | -$30.1M | -$37.2M | -$12.8M | -$20.4M | -$34.0M |
Flujo de Caja (Trimestral)
| Año | 2024-Q2 | 2024-Q4 | 2025-Q2 | 2025-Q4 |
|---|
| Flujo de Caja Operativo | -$5.8M | -$13.7M | -$17.4M | -$16.0M |
| Inversiones (CapEx) | -$489000 | -$357000 | -$150000 | -$396000 |
| Flujo de Caja Libre | -$6.3M | -$14.1M | -$17.6M | -$16.4M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.9M | $2.4M | $2.2M | $1.4M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -31.3% | -6.5% | -27.0% | -8.5% | +13.8% | +80.4% | +658.1% | -119.9% | +512.3% |
| Crecimiento Beneficio Neto (anual) | | -19.5% | -16.1% | -67.8% | +34.0% | -39.9% | -21.4% | +30.4% | -71.6% | +64.8% |
| Crecimiento BPA (anual) | | -4.9% | -1.3% | -54.6% | +41.3% | +2.2% | -21.5% | +34.1% | -33.3% | +65.3% |
| Cambio en Acciones (anual) | | +14.4% | +12.3% | +10.2% | +12.7% | +42.4% | +0.3% | +6.0% | +28.0% | +1.2% |
| Crecimiento FCF (anual) | | -19.3% | -18.5% | -60.1% | +34.6% | -8.9% | -23.6% | +65.6% | -59.3% | -66.5% |
| Margen Bruto | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Margen Operativo | -403.1% | -678.9% | -864.2% | -1841.0% | -1566.8% | -1986.4% | -977.8% | -74.0% | 951.2% | -36.5% |
| Margen EBITDA | -394.2% | -666.6% | -846.5% | -1771.4% | -1499.4% | -1722.9% | -925.8% | -65.4% | 941.1% | -40.7% |
| Margen Neto | -403.6% | -702.4% | -872.2% | -2003.7% | -1444.7% | -1775.7% | -1194.3% | -109.6% | 947.6% | -80.8% |
| Margen FCF | -344.6% | -598.8% | -758.9% | -1663.1% | -1188.6% | -1137.1% | -778.8% | -35.4% | 283.7% | -114.6% |
| Tasa Impositiva Efectiva | -0.4% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.3% | -0.1% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.22 | $-1.27 | $-1.34 | $-1.95 | $-1.13 | $-0.87 | $-1.07 | $-0.35 | $-0.43 | $-0.71 |
| 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) | $15.3M | $17.4M | $19.6M | $21.6M | $24.4M | $34.7M | $34.9M | $36.8M | $47.3M | $47.8M |
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 | 31.23% |
| Rentabilidad sobre capital invertido | -74.29% |
| Rentabilidad sobre activos | -35.36% |
| Margen bruto | 100.00% |
| Margen operativo | -36.49% |
| Margen neto | -80.83% |
Salud financiera
| Deuda / Patrimonio | -1.13 |
| Ratio corriente | 1.09 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 3.22 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -11.28 | -9.43 | -9.74 | -6.44 | -9.78 | -5.28 | -2.09 | -6.10 | -1.92 | -39.35 |
| P/VC | 14.16 | 5.61 | 20.40 | -171.57 | 4.67 | 9.24 | -4.42 | -131.29 | -1.99 | -11.14 |
| P/V | 45.44 | 66.23 | 83.50 | 128.90 | 141.60 | 93.47 | 25.01 | 6.69 | -18.22 | 31.74 |
| Margen Bruto | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Margen Operativo | -403.1% | -678.9% | -864.2% | -1841.0% | -1566.8% | -1986.4% | -977.8% | -74.0% | 951.2% | -36.5% |
| Margen Neto | -403.6% | -702.4% | -872.2% | -2003.7% | -1444.7% | -1775.7% | -1194.3% | -109.6% | 947.6% | -80.8% |