Estados financieros detallados de Nano-X Imaging Ltd. (NNOX): 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 -85.7%, margen operativo -422.9%, margen neto -5.2%.
Al precio actual de $0.75, NNOX presenta beneficios negativos (P/E no significativo) y un ROE del -51.88%. La capitalización bursátil es de $52M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | $1.3M | $8.6M | $9.9M | $11.3M | $13.0M |
| Coste de Ventas | $35000 | $53000 | $208000 | $2.8M | $15.5M | $16.5M | $21.9M | $25.8M |
| Beneficio Bruto | -$35000 | -$53000 | -$208000 | -$1.5M | -$6.9M | -$6.6M | -$10.6M | -$12.8M |
| I+D | $672000 | $2.7M | $9.2M | $17.1M | $26.5M | $26.0M | $20.2M | $19.2M |
| Generales y Administrativos | $1.2M | $19.9M | $34.7M | $41.7M | $45.6M | $28.4M | $25.7M | $27.1M |
| Gastos Operativos | $1.9M | $22.6M | $43.9M | $60.0M | $72.3M | $56.0M | $46.1M | $47.9M |
| Beneficio Operativo | -$1.9M | -$22.6M | -$43.9M | -$61.6M | -$109.7M | -$62.6M | -$56.7M | -$60.7M |
| EBITDA | -$1.9M | -$22.5M | -$43.6M | -$59.3M | -$75.7M | -$47.7M | -$45.0M | -$49.0M |
| Gastos por Intereses | $5000 | 0 | 0 | $288000 | 0 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$1.9M | -$22.6M | -$43.8M | -$61.8M | -$108.9M | -$61.1M | -$53.9M | -$76.8M |
| Impuestos | $5000 | 0 | 0 | -$48000 | -$3.7M | -$339000 | -$358000 | -$1.8M |
| Beneficio Neto | -$1.9M | -$22.6M | -$43.5M | -$61.8M | -$105.2M | -$60.8M | -$53.5M | -$75.0M |
| BPA | $-0.06 | $-0.49 | $-1.22 | $-1.28 | $-2.01 | $-1.08 | $-0.91 | $-1.16 |
| BPA Diluido | $-0.06 | $-0.49 | $-1.22 | $-1.28 | $-2.01 | $-1.08 | $-0.91 | $-1.16 |
| Acciones en Circulación (Diluidas) | $34.2M | $45.7M | $35.7M | $48.2M | $52.2M | $56.4M | $58.6M | $64.8M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $3.4M | $3.7M | $4.3M | $4.2M |
| Beneficio Bruto | -$2.9M | -$3.6M | -$2.7M | -$43.7M |
| Beneficio Operativo | -$14.2M | -$17.9M | -$14.8M | -$55.5M |
| EBITDA | -$11.3M | -$15.0M | -$12.0M | -$52.7M |
| Beneficio Neto | -$13.7M | -$33.4M | -$14.3M | -$55.5M |
| BPA | $-0.21 | $-0.50 | $-0.20 | $-0.79 |
| BPA Diluido | $-0.21 | $-0.50 | $-0.20 | $-0.79 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5000 | $8.1M | $213.5M | $66.6M | $38.5M | $56.4M | $39.3M | $49.2M |
| Inversiones a Corto | 0 | 0 | 0 | $22.1M | $39.2M | $26.0M | $33.9M | $10.5M |
| Cuentas por Cobrar | 0 | 0 | 0 | $1.1M | $977000 | $1.5M | $1.8M | $2.0M |
| Inventario | 0 | 0 | 0 | $3.1M | $2.4M | $2.4M | $1.5M | $3.1M |
| Activos Corrientes | $1.7M | $9.6M | $219.8M | $94.9M | $82.5M | $88.6M | $78.7M | $66.8M |
| Inmovilizado Material | $156000 | $754000 | $15.4M | $39.2M | $44.7M | $46.9M | $49.2M | $33.2M |
| Fondo de Comercio | 0 | 0 | 0 | $58.3M | $7.4M | 0 | 0 | $316000 |
| Activos Intangibles | 0 | 0 | 0 | $101.8M | $91.2M | $80.6M | $70.0M | $59.9M |
| Activos Totales | $1.9M | $11.9M | $236.1M | $363.2M | $253.9M | $218.6M | $210.0M | $162.2M |
| Cuentas por Pagar | $82000 | $475000 | $435000 | $3.1M | $3.6M | $3.3M | $2.2M | $2.9M |
| Deuda a Corto | 0 | 0 | 0 | $145000 | 0 | $3.5M | $3.1M | $3.1M |
| Pasivos Corrientes | $8.2M | $20.3M | $4.5M | $52.8M | $25.1M | $15.5M | $14.0M | $16.9M |
| Deuda a Largo | 0 | 0 | 0 | $3.8M | $3.5M | 0 | 0 | 0 |
| Pasivos Totales | $8.2M | $20.6M | $5.4M | $71.0M | $37.3M | $23.1M | $20.9M | $22.4M |
| Reservas | -$18.0M | -$40.6M | -$84.4M | -$146.2M | -$259.5M | -$320.2M | -$373.7M | -$448.8M |
| Patrimonio Neto | -$6.4M | -$8.8M | $230.7M | $292.1M | $216.7M | $195.5M | $189.1M | $139.7M |
| Deuda Total | 0 | $526000 | $1.4M | $5.8M | $4.6M | $8.4M | $7.4M | $7.9M |
| Deuda Neta | -$5000 | -$7.5M | -$212.0M | -$82.9M | -$73.0M | -$74.0M | -$65.8M | -$51.8M |
| Capital Circulante | -$6.5M | -$10.6M | $215.3M | $42.1M | $57.4M | $73.1M | $64.7M | $49.9M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $45.2M | $49.2M | $43.9M | $31.0M |
| Activos Totales | $176.1M | $162.2M | $145.8M | $91.2M |
| Pasivos Totales | $19.4M | $22.4M | $19.5M | $18.7M |
| Patrimonio Neto | $156.7M | $139.7M | $126.3M | $72.5M |
| Deuda Total | $7.9M | $7.9M | $7.6M | $7.7M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$1.9M | -$22.6M | -$43.8M | -$61.8M | -$105.2M | -$60.8M | -$53.5M | -$75.0M |
| Amortizaciones | $35000 | $53000 | $208000 | $2.3M | $11.5M | $11.8M | $11.7M | $11.7M |
| Compensación en Acciones | $115000 | $16.2M | $24.8M | $18.8M | $18.6M | $6.8M | $7.3M | $4.2M |
| Cambio en Capital Circulante | -$1.9M | $741000 | -$2.7M | $2.7M | -$16.9M | -$7.5M | -$1.1M | $2.8M |
| Flujo de Caja Operativo | -$3.7M | -$5.5M | -$21.5M | -$38.1M | -$43.4M | -$44.8M | -$36.6M | -$40.8M |
| Inversiones (CapEx) | -$73000 | -$125000 | -$13.9M | -$23.2M | -$7.2M | -$3.3M | -$2.8M | -$4.2M |
| Adquisiciones | 0 | 0 | 0 | -$2.9M | $1.0M | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$3.7M | -$5.6M | -$35.4M | -$61.2M | -$50.6M | -$48.1M | -$39.4M | -$45.0M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$10.7M | -$11.5M | -$14.0M | -$11.6M |
| Inversiones (CapEx) | -$1.7M | -$991545 | -$1.8M | -$984000 |
| Flujo de Caja Libre | -$12.5M | -$12.5M | -$15.7M | -$12.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.1M | $814000 | $841000 | $869000 |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | +557.8% | +15.5% | +13.9% | +15.4% |
| Crecimiento Beneficio Neto (anual) | | -1081.5% | -92.9% | -42.1% | -70.3% | +42.3% | +11.9% | -40.2% |
| Crecimiento BPA (anual) | | -776.6% | -149.0% | -4.9% | -57.0% | +46.3% | +15.7% | -27.5% |
| Cambio en Acciones (anual) | | +33.8% | -22.0% | +35.2% | +8.3% | +7.9% | +4.0% | +10.5% |
| Crecimiento FCF (anual) | | -50.9% | -527.1% | -72.8% | +17.4% | +4.9% | +18.1% | -14.3% |
| Margen Bruto | | | | -116.0% | -80.2% | -66.6% | -94.0% | -98.2% |
| Margen Operativo | | | | -4720.7% | -1279.0% | -631.9% | -502.9% | -466.2% |
| Margen EBITDA | | | | -4544.9% | -882.4% | -481.5% | -398.9% | -376.3% |
| Margen Neto | | | | -4739.1% | -1226.9% | -613.6% | -474.3% | -576.1% |
| Margen FCF | | | | -4695.5% | -589.4% | -485.4% | -348.9% | -345.6% |
| Tasa Impositiva Efectiva | -0.3% | -0.0% | -0.0% | 0.1% | 3.4% | 0.6% | 0.7% | 2.3% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.11 | $-0.12 | $-0.99 | $-1.27 | $-0.97 | $-0.85 | $-0.67 | $-0.69 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $34.2M | $45.7M | $35.7M | $48.2M | $52.2M | $56.4M | $58.6M | $64.8M |
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 | -51.88% |
| Rentabilidad sobre capital invertido | -44.33% |
| Rentabilidad sobre activos | -52.17% |
| Margen bruto | -85.67% |
| Margen operativo | -422.95% |
| Margen neto | -523.83% |
Salud financiera
| Deuda / Patrimonio | 0.06 |
| Ratio corriente | 3.64 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -798.39 | -91.08 | -37.43 | -11.36 | -3.67 | -5.90 | -7.91 | -2.41 |
| P/VC | -238.87 | -232.44 | 7.06 | 2.40 | 1.78 | 1.84 | 2.23 | 1.30 |
| P/V | 0.00 | 0.00 | 0.00 | 537.62 | 44.94 | 36.25 | 37.41 | 13.93 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | -116.0% | -80.2% | -66.6% | -94.0% | -98.2% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | -4720.7% | -1279.0% | -631.9% | -502.9% | -466.2% |
| Margen Neto | 0.0% | 0.0% | 0.0% | -4739.1% | -1226.9% | -613.6% | -474.3% | -576.1% |