Estados financieros detallados de Osisko Development Corp. (ODV): 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 59.7%, margen operativo -121.7%, margen neto -189.2%.
Al precio actual de $2.28, ODV presenta beneficios negativos (P/E no significativo) y un ROE del -10.57%. La capitalización bursátil es de $334M.
Cuenta de Resultados (10 años)
| Año | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | 0 | 0 | 0 | $7.7M | $64.0M | $31.6M | $4.6M | $35.4M |
| Coste de Ventas | 0 | 0 | 0 | 0 | 0 | $7.8M | $56.8M | $32.5M | $5.1M | $60.7M |
| Beneficio Bruto | 0 | 0 | 0 | 0 | 0 | -$121000 | $7.2M | -$887000 | -$518000 | -$25.2M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $146081 | $72474 | $1.2M | $3.7M | $8.3M | $21.5M | $30.2M | $39.9M | $27.0M | $28.4M |
| Gastos Operativos | $146081 | $72474 | $465856 | $3.8M | $8.3M | $157.2M | $241.5M | $208.6M | $72.8M | $28.4M |
| Beneficio Operativo | -$146080 | -$72470 | -$466000 | -$53.8M | -$8.3M | -$157.4M | -$234.3M | -$209.4M | -$73.3M | -$53.6M |
| EBITDA | -$146080 | -$69324 | -$1.2M | $46.1M | -$8.9M | -$143.0M | -$173.4M | -$179.5M | -$57.2M | -$142.9M |
| Gastos por Intereses | $142 | $123 | $141 | 0 | $787000 | $749000 | $5.8M | $13.4M | $17.5M | $6.7M |
| Beneficio Antes de Impuestos | -$36989 | -$69451 | -$931000 | -$94.4M | -$1.3M | -$146.3M | -$190.8M | -$204.4M | -$85.7M | -$159.4M |
| Impuestos | 0 | 0 | $2.0M | -$18.7M | $6.8M | -$13.0M | $1.7M | -$22.5M | $648000 | -$65945 |
| Beneficio Neto | -$5873 | -$113893 | -$2.0M | -$75.7M | -$8.1M | -$133.3M | -$192.5M | -$181.9M | -$86.3M | -$168.9M |
| BPA | $-0.53 | $-10.23 | $-177.22 | $-2.00 | $-0.21 | $-3.03 | $-3.02 | $-2.21 | $-0.92 | $-0.95 |
| BPA Diluido | $-0.53 | $-10.23 | $-177.22 | $-2.00 | $-0.21 | $-3.03 | $-3.02 | $-2.21 | $-0.92 | $-0.95 |
| Acciones en Circulación (Diluidas) | $11134 | $11134 | $55153 | $37.9M | $37.9M | $44.0M | $63.8M | $82.5M | $93.8M | $178.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Ingresos | $6.9M | $4.4M | $24.2M | $2.2M |
| Beneficio Bruto | $2.8M | $1.4M | $17.4M | $869239 |
| Beneficio Operativo | -$18.5M | -$42.4M | $24.2M | -$9.2M |
| EBITDA | -$40.3M | -$148.8M | $69.1M | $34.6M |
| Beneficio Neto | -$47.4M | -$150.3M | $66.0M | $60.4M |
| BPA | $-0.35 | $-1.10 | $0.26 | $0.21 |
| BPA Diluido | $-0.35 | $-1.10 | $0.26 | $0.20 |
Balance (10 años)
| Año | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $5375 | $117 | $162715 | $8.0M | $197.4M | $33.4M | $105.9M | $43.5M | $106.7M | $68.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $353.9M |
| Cuentas por Cobrar | $5260 | $6716 | 0 | $1.9M | $7.0M | $8.0M | $11.0M | $4.0M | $2.6M | $9.3M |
| Inventario | 0 | 0 | -$402000 | $1.7M | $10.0M | $18.6M | $17.6M | $7.2M | $8.7M | $7.8M |
| Activos Corrientes | $10635 | $6833 | $177688 | $18.2M | $218.5M | $61.4M | $141.3M | $67.7M | $123.2M | $479.4M |
| Inmovilizado Material | 0 | 0 | $95.0M | $320.7M | $448.9M | $563.0M | $747.3M | $625.2M | $680.9M | $643.8M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $10636 | $6834 | $177688 | $397.3M | $802.1M | $703.1M | $968.2M | $763.9M | $856.9M | $1.26B |
| Cuentas por Pagar | 0 | 0 | $19000 | $6.7M | $13.6M | $11.8M | $18.1M | $10.6M | $14.8M | $3.0M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | $1.6M | $4.7M | $11.8M | $40.3M | $6.8M |
| Pasivos Corrientes | $327166 | $392815 | $44992 | $12.5M | $42.8M | $41.9M | $51.0M | $57.3M | $144.5M | $331.6M |
| Deuda a Largo | 0 | 0 | 0 | 0 | 0 | $2.2M | $12.3M | $5.1M | $5.5M | $135.3M |
| Pasivos Totales | $327166 | $392815 | $44992 | $42.2M | $102.6M | $118.9M | $237.8M | $178.7M | $286.3M | $579.1M |
| Reservas | -$8.8M | -$8.9M | -$10.9M | 0 | -$2.6M | -$143.4M | -$323.9M | -$510.9M | -$598.3M | -$766.2M |
| Patrimonio Neto | $1.4M | $1.2M | $132696 | $355.0M | $699.6M | $584.2M | $730.4M | $585.2M | $570.6M | $682.1M |
| Deuda Total | 0 | 0 | 0 | 0 | $2.0M | $13.6M | $19.1M | $18.6M | $46.6M | $144.4M |
| Deuda Neta | -$5375 | -$117 | -$162715 | -$8.0M | -$195.4M | -$19.8M | -$86.9M | -$24.9M | -$60.0M | -$277.5M |
| Capital Circulante | -$316531 | -$385982 | $132696 | $5.7M | $175.6M | $19.6M | $90.2M | $10.4M | -$21.3M | $147.8M |
Balance (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Caja y Equivalentes | $46.3M | $401.4M | $68.0M | $182.5M |
| Activos Totales | $783.7M | $1.16B | $1.26B | $1.50B |
| Pasivos Totales | $298.9M | $616.8M | $579.1M | $517.6M |
| Patrimonio Neto | $484.8M | $546.7M | $682.1M | $983.9M |
| Deuda Total | $6.8M | $139.4M | $144.4M | $156.4M |
Flujo de Caja (10 años)
| Año | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$5873 | -$113893 | -$2.0M | -$75.7M | -$8.1M | -$133.3M | -$192.5M | -$181.9M | -$86.3M | -$159.3M |
| Amortizaciones | 0 | 0 | $7.3M | $90.6M | $229000 | $2.5M | $11.6M | $11.5M | $11.0M | $6.3M |
| Compensación en Acciones | 0 | 0 | $365000 | $610000 | $829000 | $4.1M | $7.4M | $7.9M | $3.5M | $4.0M |
| Cambio en Capital Circulante | $133337 | $67339 | -$276337 | -$5.3M | $4.4M | -$19.6M | -$10.0M | $4.8M | -$2.1M | -$7.3M |
| Flujo de Caja Operativo | -$12886 | -$5258 | -$437402 | -$8.4M | -$6.0M | -$41.4M | -$50.3M | -$43.8M | -$52.3M | -$25.0M |
| Inversiones (CapEx) | 0 | 0 | 0 | -$5.7M | 0 | -$186.2M | -$77.4M | -$55.2M | -$36.6M | -$95.8M |
| Adquisiciones | 0 | 0 | 0 | $8.3M | 0 | -$2.2M | -$67.4M | 0 | -$448000 | 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 | -$12886 | -$5258 | -$437402 | -$14.1M | -$6.0M | -$227.6M | -$127.6M | -$98.9M | -$88.9M | -$120.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Flujo de Caja Operativo | -$20.6M | -$3.8M | $11.9M | $1.9M |
| Inversiones (CapEx) | -$13.3M | -$11.2M | -$56.1M | -$59.5M |
| Flujo de Caja Libre | -$33.8M | -$15.0M | -$44.1M | -$57.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.5M | $1.0M | $1.1M | $1.1M |
Crecimiento y Márgenes (10 años)
| Año | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | | | | +736.0% | -50.6% | -85.6% | +677.4% |
| Crecimiento Beneficio Neto (anual) | | -1839.3% | -1665.7% | -3664.4% | +89.3% | -1551.4% | -44.4% | +5.5% | +52.5% | -95.6% |
| Crecimiento BPA (anual) | | -1830.2% | -1632.4% | +98.9% | +89.5% | -1342.9% | +0.3% | +26.8% | +58.4% | -3.3% |
| Cambio en Acciones (anual) | | +0.0% | +395.4% | +68547.2% | +0.1% | +16.2% | +44.8% | +29.3% | +13.8% | +89.9% |
| Crecimiento FCF (anual) | | +59.2% | -8218.8% | -3134.6% | +57.7% | -3703.1% | +43.9% | +22.5% | +10.1% | -35.8% |
| Margen Bruto | | | | | | -1.6% | 11.3% | -2.8% | -11.4% | -71.1% |
| Margen Operativo | | | | | | -2054.1% | -365.8% | -662.3% | -1607.6% | -151.1% |
| Margen EBITDA | | | | | | -1866.8% | -270.8% | -567.5% | -1254.6% | -403.2% |
| Margen Neto | | | | | | -1740.0% | -300.5% | -575.1% | -1893.5% | -476.4% |
| Margen FCF | | | | | | -2970.6% | -199.3% | -312.8% | -1950.2% | -340.7% |
| Tasa Impositiva Efectiva | -0.0% | -0.0% | -217.6% | 19.8% | -537.6% | 8.9% | -0.9% | 11.0% | -0.8% | 0.0% |
Datos por Acción (10 años)
| Año | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.16 | $-0.47 | $-7.93 | $-0.37 | $-0.16 | $-5.17 | $-2.00 | $-1.20 | $-0.95 | $-0.68 |
| 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) | $11134 | $11134 | $55153 | $37.9M | $37.9M | $44.0M | $63.8M | $82.5M | $93.8M | $178.2M |
Qué mirar en Basic Materials
Mineras, químicas, acero. 100% commodity-driven. Analizar con P/E puro es un error — mira posición de costes y sostenibilidad del dividendo.
- FCF yield — En commodities el FCF es oro — EPS engaña mucho
- Margen bruto — Margen bruto consistente 5y = señal de moat
- Deuda neta / EBITDA (valle) — Usar EBITDA del peor año del ciclo, no el actual
- Dividend coverage — Dividendo cubierto por FCF en año medio, no en pico
- Capex / D&A — >1x = mantienen/crecen reservas. <0.7x = están descapitalizando
- Altman Z-Score — Modelo de bankruptcy (NYU 1968) — combina liquidez, apalancamiento y rentabilidad. Clave en cíclicos
- P/B en ciclos — Commodities: 0.8-1.2x en valles, 2x+ en picos. <2x aún zona razonable
Rentabilidad
| Rentabilidad sobre capital | -10.57% |
| Rentabilidad sobre capital invertido | -3.66% |
| Rentabilidad sobre activos | -4.75% |
| Margen bruto | 59.66% |
| Margen operativo | -121.70% |
| Margen neto | -189.16% |
Salud financiera
| Deuda / Patrimonio | 0.16 |
| Ratio corriente | 2.37 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 0.06 |
Ratios Clave (10 años)
| Año | 2017 | 2018 | 2019 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -20.07 | -0.08 | -0.07 | -16.12 | -109.34 | -4.03 | -1.93 | -1.74 | -2.55 | -5.04 |
| P/VC | 0.09 | 0.01 | 5.06 | 3.44 | 1.24 | 0.92 | 0.51 | 0.54 | 0.39 | 1.25 |
| P/V | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 70.20 | 5.80 | 10.05 | 48.23 | 24.07 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -1.6% | 11.3% | -2.8% | -11.4% | -71.1% |
| Margen Operativo | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -2054.1% | -365.8% | -662.3% | -1607.6% | -151.1% |
| Margen Neto | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -1740.0% | -300.5% | -575.1% | -1893.5% | -476.4% |