Estados financieros detallados de Oculis Holding AG (OCS): 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 35.2%, margen operativo -358.7%, margen neto -327.8%.
Al precio actual de $9.91, OCS presenta beneficios negativos (P/E no significativo) y un ROE del -42.92%. La capitalización bursátil es de $567M.
Cuenta de Resultados (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | $686000 | 0 |
| Coste de Ventas | 0 | 0 | 0 | 0 | $52.1M | 0 |
| Beneficio Bruto | 0 | 0 | 0 | 0 | -$51.4M | 0 |
| I+D | $9.3M | $9.6M | $22.2M | $29.2M | $52.1M | $54.5M |
| Generales y Administrativos | $3.5M | $4.1M | $6.7M | $14.7M | $21.8M | $24.6M |
| Gastos Operativos | $12.3M | $13.2M | $32.4M | $80.7M | $21.8M | $79.1M |
| Beneficio Operativo | -$12.3M | -$13.2M | -$32.4M | -$80.7M | -$73.2M | -$79.1M |
| EBITDA | -$12.1M | -$13.2M | -$31.9M | -$87.1M | -$85.5M | -$93.4M |
| Gastos por Intereses | $2.6M | $5.1M | $6.4M | $1.5M | $639000 | $795550 |
| Beneficio Antes de Impuestos | -$14.8M | -$18.5M | -$38.6M | -$88.7M | -$85.9M | -$94.7M |
| Impuestos | $83000 | $27000 | $55000 | $107000 | -$160000 | $177637 |
| Beneficio Neto | -$14.9M | -$18.6M | -$38.7M | -$88.8M | -$85.8M | -$94.5M |
| BPA | $-0.45 | $-0.57 | $-1.18 | $-2.97 | $-2.12 | $-1.81 |
| BPA Diluido | $-0.45 | $-0.57 | $-1.18 | $-2.97 | $-2.12 | $-1.81 |
| Acciones en Circulación (Diluidas) | $32.7M | $32.7M | $32.7M | $29.9M | $40.4M | $52.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $243000 | 0 | 0 | 0 |
| Beneficio Bruto | $243000 | 0 | -$157434 | 0 |
| Beneficio Operativo | -$20.3M | -$20.9M | -$22.4M | -$23.6M |
| EBITDA | -$16.5M | -$23.3M | -$29.3M | -$9.5M |
| Beneficio Neto | -$16.9M | -$23.3M | -$29.5M | -$10.0M |
| BPA | $-0.32 | $-0.42 | $-0.50 | $-0.16 |
| BPA Diluido | $-0.32 | $-0.42 | $-0.50 | $-0.16 |
Balance (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5.0M | $46.3M | $19.8M | $38.3M | $27.7M | $81.4M |
| Inversiones a Corto | 0 | 0 | 0 | $53.3M | $71.0M | $131.8M |
| Cuentas por Cobrar | $1.1M | 0 | 0 | $8.0M | $777000 | $994127 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $6.2M | $48.0M | $23.7M | $101.0M | $104.9M | $219.1M |
| Inmovilizado Material | $1.4M | $1.3M | $1.1M | $1.0M | $1.7M | $3.0M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $8.7M | $8.7M | $12.2M | $12.2M | $13.3M | $13.3M |
| Activos Totales | $16.4M | $58.0M | $37.1M | $114.4M | $120.4M | $236.2M |
| Cuentas por Pagar | $790000 | $824000 | $3.9M | $7.6M | $5.9M | $1.8M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | $502569 |
| Pasivos Corrientes | $4.3M | $4.1M | $12.0M | $19.1M | $44.2M | $36.8M |
| Deuda a Largo | $54.0M | $113.5M | $122.4M | 0 | 0 | 0 |
| Pasivos Totales | $60.0M | $119.0M | $135.1M | $20.6M | $47.0M | $39.9M |
| Reservas | -$53.7M | -$72.3M | -$111.0M | -$199.8M | -$285.6M | -$385.0M |
| Patrimonio Neto | -$43.7M | -$61.0M | -$98.0M | $93.7M | $73.4M | $196.3M |
| Deuda Total | $54.8M | $114.3M | $123.1M | $605000 | $1.2M | $2.3M |
| Deuda Neta | $49.9M | $68.0M | $103.3M | -$91.0M | -$97.5M | -$210.9M |
| Capital Circulante | $1.8M | $43.9M | $11.6M | $81.9M | $60.7M | $182.3M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $46.4M | $81.4M | $64.4M | $8000 |
| Activos Totales | $167.8M | $236.2M | $243.3M | $250.3M |
| Pasivos Totales | $37.2M | $39.9M | $47.2M | $31.0M |
| Patrimonio Neto | $130.6M | $196.3M | $196.1M | $219.3M |
| Deuda Total | $2.5M | $2.3M | $2.2M | $2.5M |
Flujo de Caja (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$14.8M | -$18.5M | -$38.6M | -$88.7M | -$85.9M | -$94.5M |
| Amortizaciones | $228000 | $235000 | $299000 | $287000 | $406000 | $546000 |
| Compensación en Acciones | $328000 | $328000 | $804000 | $3.6M | $9.8M | $16.0M |
| Cambio en Capital Circulante | -$451000 | -$791000 | $6.0M | -$13.0M | $14.2M | -$70672 |
| Flujo de Caja Operativo | -$12.0M | -$13.8M | -$25.1M | -$53.8M | -$47.5M | -$62.2M |
| Inversiones (CapEx) | -$19000 | -$28000 | -$3.5M | -$48000 | -$230000 | -$287470 |
| 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 | -$12.0M | -$13.9M | -$28.6M | -$53.9M | -$47.7M | -$62.5M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$13.4M | -$16.7M | -$15.5M | -$20.2M |
| Inversiones (CapEx) | -$124000 | -$38000 | -$7159 | -$14000 |
| Flujo de Caja Libre | -$13.5M | -$16.7M | -$15.5M | -$20.2M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $4.6M | $4.3M | $5.0M | $6.6M |
Crecimiento y Márgenes (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | | -100.0% |
| Crecimiento Beneficio Neto (anual) | | -24.7% | -108.6% | -129.5% | +3.4% | -10.2% |
| Crecimiento BPA (anual) | | -26.7% | -107.0% | -151.7% | +28.6% | +14.6% |
| Cambio en Acciones (anual) | | +0.0% | +0.0% | -8.7% | +35.1% | +29.6% |
| Crecimiento FCF (anual) | | -15.0% | -106.6% | -88.3% | +11.4% | -31.0% |
| Margen Bruto | | | | | -7492.3% | |
| Margen Operativo | | | | | -10671.1% | |
| Margen EBITDA | | | | | -12468.1% | |
| Margen Neto | | | | | -12503.9% | |
| Margen FCF | | | | | -6957.6% | |
| Tasa Impositiva Efectiva | -0.6% | -0.1% | -0.1% | -0.1% | 0.2% | -0.2% |
Datos por Acción (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.37 | $-0.42 | $-0.87 | $-1.80 | $-1.18 | $-1.19 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $32.7M | $32.7M | $32.7M | $29.9M | $40.4M | $52.4M |
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 | -42.92% |
| Rentabilidad sobre capital invertido | -38.94% |
| Rentabilidad sobre activos | -31.82% |
| Margen bruto | 35.21% |
| Margen operativo | -35874.24% |
| Margen neto | -32780.20% |
Salud financiera
| Deuda / Patrimonio | 0.01 |
| Ratio corriente | 8.35 |
Ratios Clave (10 años)
| Año | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -19.09 | -15.50 | -7.91 | -3.18 | -7.28 | -8.75 |
| P/VC | -6.44 | -4.74 | -3.12 | 3.01 | 8.50 | 4.22 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 908.96 | 0.00 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | -7492.3% | 0.0% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | -10671.1% | 0.0% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | -12503.9% | 0.0% |