Estados financieros detallados de Orchestra BioMed Holdings, Inc. (OBIO): 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
Orchestra BioMed Holdings, Inc. registró ingresos de $33.5M en el último ejercicio fiscal, con un CAGR de 5 años del 42.5%.
Márgenes de los últimos 12 meses: margen bruto 99.3%, margen operativo -181.4%, margen neto -184.6%.
Al precio actual de $6.01, OBIO presenta beneficios negativos (P/E no significativo) y un ROE del -125.93%. La capitalización bursátil es de $360M.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $5.7M | -$782000 | $3.5M | $2.8M | $2.6M | $33.5M |
| Coste de Ventas | $145000 | $199000 | $322000 | $186000 | $204000 | $190000 |
| Beneficio Bruto | $5.6M | -$981000 | $3.2M | $2.6M | $2.4M | $33.3M |
| I+D | $13.5M | $12.9M | $21.9M | $33.8M | $42.8M | $58.2M |
| Generales y Administrativos | $10.8M | $7.9M | $13.9M | $20.3M | $23.9M | $26.9M |
| Gastos Operativos | $24.3M | $20.8M | $35.9M | $54.1M | $66.7M | $85.1M |
| Beneficio Operativo | -$18.8M | -$21.8M | -$32.7M | -$51.5M | -$64.3M | -$51.8M |
| EBITDA | -$18.6M | -$21.9M | -$33.4M | -$48.8M | -$60.7M | -$51.2M |
| Gastos por Intereses | 0 | $927000 | 0 | 0 | 0 | $1.1M |
| Beneficio Antes de Impuestos | -$21.4M | -$23.0M | -$33.6M | -$49.1M | -$61.0M | -$52.7M |
| Impuestos | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$21.4M | -$23.0M | -$33.6M | -$49.1M | -$61.0M | -$52.7M |
| BPA | $-0.01 | $-0.02 | $-1.32 | $-1.48 | $-1.66 | $-1.11 |
| BPA Diluido | $-0.01 | $-0.02 | $-1.32 | $-1.48 | $-1.66 | $-1.11 |
| Acciones en Circulación (Diluidas) | $20.4M | $20.4M | $25.5M | $33.2M | $36.8M | $47.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $861000 | $30.9M | $110000 | $88000 |
| Beneficio Bruto | $812000 | $30.9M | $18000 | $63000 |
| Beneficio Operativo | -$20.3M | $6.8M | -$22.1M | -$22.4M |
| EBITDA | -$20.7M | $7.1M | -$19.8M | -$23.7M |
| Beneficio Neto | -$20.8M | $6.2M | -$20.7M | -$23.8M |
| BPA | $-0.40 | $0.12 | $-0.33 | $-0.38 |
| BPA Diluido | $-0.40 | $0.12 | $-0.33 | $-0.38 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $20.3M | $9.9M | $19.8M | $30.6M | $22.3M | $34.7M |
| Inversiones a Corto | $15.4M | $958000 | $64.0M | $57.0M | $44.6M | $71.8M |
| Cuentas por Cobrar | $168000 | $121000 | $96000 | $99000 | $92000 | $95000 |
| Inventario | $69000 | $68000 | $276000 | $146000 | $173000 | $310000 |
| Activos Corrientes | $36.3M | $11.3M | $84.7M | $89.1M | $69.2M | $107.9M |
| Inmovilizado Material | $1.0M | $1.1M | $3.7M | $2.8M | $3.5M | $3.2M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $38.1M | $13.5M | $95.6M | $95.2M | $76.2M | $114.9M |
| Cuentas por Pagar | $1.8M | $2.0M | $4.0M | $2.9M | $5.1M | $6.1M |
| Deuda a Corto | $4.0M | $2.0M | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $14.4M | $12.2M | $18.6M | $11.2M | $16.2M | $16.7M |
| Deuda a Largo | $5.5M | $3.7M | $9.5M | 0 | $14.3M | $14.3M |
| Pasivos Totales | $86.6M | $84.8M | $43.0M | $27.2M | $43.2M | $51.5M |
| Reservas | -$143.1M | -$166.1M | -$199.7M | -$248.9M | -$309.9M | -$362.6M |
| Patrimonio Neto | -$48.5M | -$71.2M | $52.5M | $68.0M | $33.0M | $63.4M |
| Deuda Total | $9.5M | $5.7M | $11.9M | $1.7M | $16.5M | $16.0M |
| Deuda Neta | -$26.3M | -$5.2M | -$71.9M | -$85.9M | -$50.3M | -$90.6M |
| Capital Circulante | $21.9M | -$921000 | $66.1M | $77.9M | $53.0M | $91.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $42.0M | $34.7M | $28.4M | $20.5M |
| Activos Totales | $104.8M | $114.9M | $100.7M | $115.7M |
| Pasivos Totales | $61.1M | $51.5M | $49.7M | $86.3M |
| Patrimonio Neto | $43.7M | $63.4M | $51.0M | $29.4M |
| Deuda Total | $16.0M | $32.4M | $33.6M | $70.8M |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$21.4M | -$23.0M | -$33.6M | -$49.1M | -$61.0M | -$52.7M |
| Amortizaciones | $137000 | $181000 | $222000 | $287000 | $308000 | $327000 |
| Compensación en Acciones | $221000 | $302000 | $3.4M | $7.6M | $10.6M | $12.0M |
| Cambio en Capital Circulante | -$8.1M | $2.6M | -$451000 | -$3.3M | -$765000 | -$10.4M |
| Flujo de Caja Operativo | -$26.2M | -$19.4M | -$29.3M | -$46.1M | -$50.6M | -$49.0M |
| Inversiones (CapEx) | -$539000 | -$274000 | -$591000 | -$78000 | -$289000 | -$489000 |
| Adquisiciones | -$27.5M | -$13.3M | 0 | 0 | -$602000 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$26.7M | -$19.7M | -$29.9M | -$46.2M | -$50.8M | -$49.5M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$14.6M | -$2.3M | -$22.2M | -$19.3M |
| Inversiones (CapEx) | -$310000 | -$33000 | -$184000 | -$254000 |
| Flujo de Caja Libre | -$14.9M | -$2.3M | -$22.4M | -$19.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.0M | $2.8M | $2.9M | $2.5M |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -113.7% | +551.8% | -21.9% | -4.4% | +1169.2% |
| Crecimiento Beneficio Neto (anual) | | -7.8% | -46.0% | -46.2% | -24.2% | +13.6% |
| Crecimiento BPA (anual) | | -117.6% | -7035.1% | -12.1% | -12.2% | +33.1% |
| Cambio en Acciones (anual) | | +0.0% | +24.6% | +30.4% | +10.8% | +29.7% |
| Crecimiento FCF (anual) | | +26.3% | -51.7% | -54.6% | -10.0% | +2.7% |
| Margen Bruto | 97.5% | 125.4% | 90.9% | 93.3% | 92.3% | 99.4% |
| Margen Operativo | -328.8% | 2787.6% | -924.3% | -1866.2% | -2437.5% | -154.7% |
| Margen EBITDA | -326.4% | 2801.3% | -945.0% | -1769.3% | -2301.6% | -153.0% |
| Margen Neto | -374.5% | 2943.0% | -951.3% | -1779.7% | -2313.3% | -157.4% |
| Margen FCF | -468.6% | 2519.6% | -845.7% | -1674.1% | -1927.5% | -147.7% |
| Tasa Impositiva Efectiva | -0.0% | -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 | $-1.31 | $-0.96 | $-1.17 | $-1.39 | $-1.38 | $-1.04 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $20.4M | $20.4M | $25.5M | $33.2M | $36.8M | $47.7M |
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 | -125.93% |
| Rentabilidad sobre capital invertido | -56.28% |
| Rentabilidad sobre activos | -51.02% |
| Margen bruto | 99.32% |
| Margen operativo | -181.36% |
| Margen neto | -184.60% |
Salud financiera
| Deuda / Patrimonio | 2.41 |
| Ratio corriente | 8.26 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1507.06 | -544.86 | -7.56 | -6.17 | -2.41 | -3.74 |
| P/VC | -5.40 | -2.89 | 4.84 | 4.46 | 4.47 | 3.13 |
| P/V | 45.93 | -263.60 | 71.95 | 109.91 | 55.83 | 5.92 |
| Margen Bruto | 97.5% | 125.4% | 90.9% | 93.3% | 92.3% | 99.4% |
| Margen Operativo | -328.8% | 2787.6% | -924.3% | -1866.2% | -2437.5% | -154.7% |
| Margen Neto | -374.5% | 2943.0% | -951.3% | -1779.7% | -2313.3% | -157.4% |