Estados financieros detallados de Organogenesis Holdings Inc. (ORGO): 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
Organogenesis Holdings Inc. registró ingresos de $563.0M en el último ejercicio fiscal, con un CAGR de 5 años del 10.7%. El beneficio neto alcanzó $37.0M, con un CAGR a 5 años del 16.5%.
Márgenes de los últimos 12 meses: margen bruto 67.6%, margen operativo -6.4%, margen neto -19.8%.
Al precio actual de $1.39, ORGO presenta beneficios negativos (P/E no significativo) y un ROE del -24.23%. La capitalización bursátil es de $179M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | 0 | $193.4M | $261.0M | $338.3M | $467.4M | $450.9M | $433.1M | $482.0M | $563.0M |
| Coste de Ventas | $208698 | $4.6M | $68.8M | $75.9M | $87.3M | $114.2M | $105.0M | $106.5M | $115.7M | $137.5M |
| Beneficio Bruto | -$208698 | -$4.6M | $124.6M | $185.0M | $251.0M | $353.2M | $345.9M | $326.7M | $366.3M | $425.5M |
| I+D | 0 | 0 | $10.7M | $14.8M | $20.1M | $30.7M | $39.8M | $44.4M | $50.3M | $44.5M |
| Generales y Administrativos | $208698 | $4.6M | $162.0M | $200.1M | $204.2M | $250.2M | $283.8M | $269.8M | $294.5M | $326.2M |
| Gastos Operativos | $208698 | $4.6M | $172.7M | $214.9M | $224.3M | $280.9M | $323.6M | $314.1M | $367.6M | $369.6M |
| Beneficio Operativo | $208698 | -$4.6M | -$51.6M | -$29.9M | $26.7M | $72.2M | $22.3M | $12.5M | -$1.3M | $55.9M |
| EBITDA | $7.1M | -$2.1M | -$46.9M | -$19.7M | $37.2M | $87.0M | $40.3M | $36.0M | $15.8M | $73.9M |
| Gastos por Intereses | $5.6M | $8.0M | $10.9M | $9.0M | $11.3M | $7.2M | $2.0M | $2.2M | $1.5M | 0 |
| Beneficio Antes de Impuestos | -$208698 | -$2.1M | -$64.7M | -$38.6M | $17.8M | $63.1M | $20.3M | $10.4M | -$2.8M | $47.0M |
| Impuestos | -$440212 | -$52516 | $84000 | $150000 | $530000 | -$31.1M | $4.8M | $5.4M | -$3.7M | $9.9M |
| Beneficio Neto | -$208698 | -$2.1M | -$64.8M | -$38.7M | $17.2M | $94.2M | $15.5M | $4.9M | $861000 | $37.0M |
| BPA | $-0.02 | $-0.03 | $-0.94 | $-0.44 | $0.16 | $0.73 | $0.12 | $0.04 | $-0.01 | $0.16 |
| BPA Diluido | $-0.02 | $-0.03 | $-0.94 | $-0.44 | $0.15 | $0.70 | $0.12 | $0.04 | $-0.01 | $0.15 |
| Acciones en Circulación (Diluidas) | $8.6M | $63.9M | $69.3M | $92.8M | $111.4M | $133.7M | $132.4M | $132.7M | $131.7M | $130.2M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $150.5M | $225.1M | $37.2M | $43.8M |
| Beneficio Bruto | $114.2M | $175.2M | -$913999 | $20.1M |
| Beneficio Operativo | $21.6M | $65.2M | -$65.0M | -$51.0M |
| EBITDA | $28.1M | $70.4M | -$56.1M | -$47.2M |
| Beneficio Neto | $21.6M | $43.7M | -$56.2M | -$99.3M |
| BPA | $0.11 | $0.28 | $-0.44 | $-0.77 |
| BPA Diluido | $0.11 | $0.27 | $-0.44 | $-0.77 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $1.0M | $125886 | $21.3M | $60.2M | $84.4M | $113.9M | $102.5M | $104.3M | $135.6M | $93.7M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | 0 | $34.1M | $39.4M | $56.8M | $82.5M | $89.5M | $82.0M | $109.9M | $217.5M |
| Inventario | 0 | 0 | $13.3M | $22.9M | $27.8M | $25.0M | $24.8M | $28.3M | $26.2M | $29.6M |
| Activos Corrientes | $1.4M | $294439 | $71.1M | $125.6M | $174.3M | $227.0M | $222.6M | $225.0M | $285.9M | $362.2M |
| Inmovilizado Material | 0 | 0 | $39.6M | $47.2M | $55.8M | $128.3M | $145.7M | $156.3M | $126.2M | $159.5M |
| Fondo de Comercio | 0 | 0 | $25.5M | $25.5M | $28.8M | $28.8M | $28.8M | $28.8M | $28.8M | $28.8M |
| Activos Intangibles | 0 | 0 | $26.1M | $20.8M | $30.6M | $25.7M | $20.8M | $15.9M | $12.5M | $9.1M |
| Activos Totales | $311.4M | $312.8M | $163.7M | $220.7M | $290.2M | $443.3M | $449.4M | $460.0M | $497.9M | $598.7M |
| Cuentas por Pagar | 0 | $19.1M | $19.2M | $28.4M | $23.4M | $29.3M | $32.3M | $30.7M | $28.9M | $31.9M |
| Deuda a Corto | 0 | $100000 | $2.5M | 0 | $16.7M | $2.7M | $4.5M | $5.5M | 0 | $18.6M |
| Pasivos Corrientes | $478360 | $3.9M | $66.4M | $59.9M | $68.2M | $82.7M | $75.0M | $80.5M | $77.5M | $100.1M |
| Deuda a Largo | 0 | 0 | $39.1M | $83.1M | $53.0M | $70.8M | $66.2M | $60.7M | 0 | $50.7M |
| Pasivos Totales | $11.3M | $14.8M | $116.6M | $165.1M | $148.4M | $201.9M | $183.7M | $181.4M | $112.6M | $164.8M |
| Reservas | -$233860 | -$2.3M | -$130.2M | -$171.0M | -$155.0M | -$60.8M | -$45.3M | -$41.0M | -$40.1M | -$3.1M |
| Patrimonio Neto | $300.1M | $298.0M | $47.0M | $55.6M | $141.8M | $241.3M | $265.7M | $278.7M | $385.3M | $433.9M |
| Deuda Total | 0 | $17.9M | $59.3M | $100.6M | $84.8M | $132.3M | $123.8M | $119.4M | $43.3M | $132.8M |
| Deuda Neta | -$1.0M | $17.7M | $38.0M | $40.4M | $377000 | $18.4M | $21.3M | $15.0M | -$92.3M | $39.2M |
| Capital Circulante | $957551 | -$3.6M | $4.7M | $65.7M | $106.1M | $144.3M | $147.6M | $144.5M | $208.5M | $262.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $64.4M | $93.7M | $92.1M | $46.1M |
| Activos Totales | $509.8M | $598.7M | $520.0M | $406.4M |
| Pasivos Totales | $123.8M | $164.8M | $138.6M | $118.3M |
| Patrimonio Neto | $386.0M | $433.9M | $381.3M | $288.1M |
| Deuda Total | $40.8M | $132.8M | $70.9M | $67.0M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$208698 | -$2.1M | -$64.8M | -$40.5M | $17.2M | $94.9M | $15.5M | $4.9M | $861000 | $37.0M |
| Amortizaciones | $7.3M | $5.6M | $7.0M | $9.4M | $8.2M | $16.7M | $10.7M | $23.4M | $17.0M | $26.9M |
| Compensación en Acciones | $473000 | $919000 | $1.1M | $936000 | $1.7M | $3.9M | $6.6M | $9.0M | $10.6M | $13.3M |
| Cambio en Capital Circulante | -$353535 | $1.5M | -$22.4M | -$9.7M | -$27.8M | -$39.3M | -$34.1M | -$18.1M | -$48.9M | -$132.4M |
| Flujo de Caja Operativo | -$562233 | -$586604 | -$60.7M | -$33.5M | $5.5M | $62.0M | $24.9M | $30.9M | $14.2M | -$10.3M |
| Inversiones (CapEx) | -$1.4M | -$2.4M | -$1.9M | -$6.2M | -$17.7M | -$31.2M | -$33.9M | -$24.4M | -$10.0M | -$14.2M |
| Adquisiciones | 0 | -$11.8M | $1000 | 0 | -$5.8M | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | -$6.8M | 0 | 0 | 0 | 0 | -$25.5M | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$1.8M | 0 |
| Flujo de Caja Libre | -$1.9M | -$3.0M | -$62.6M | -$39.8M | -$12.2M | $30.8M | -$9.0M | $6.6M | $4.2M | -$24.5M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $3.1M | $39.4M | $21.1M | -$31.7M |
| Inversiones (CapEx) | -$2.2M | -$4.7M | -$3.1M | -$1.1M |
| Flujo de Caja Libre | $844000 | $34.8M | $18.0M | -$32.8M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.1M | $4.3M | $3.6M | $3.1M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | | +34.9% | +29.6% | +38.2% | -3.5% | -3.9% | +11.3% | +16.8% |
| Crecimiento Beneficio Neto (anual) | | -903.3% | -2996.2% | +40.3% | +144.5% | +446.6% | -83.5% | -68.2% | -82.6% | +4201.0% |
| Crecimiento BPA (anual) | | -35.0% | -2765.9% | +53.2% | +136.4% | +356.2% | -83.6% | -68.6% | -118.8% | +2353.5% |
| Cambio en Acciones (anual) | | +644.5% | +8.5% | +33.9% | +19.9% | +20.0% | -1.0% | +0.3% | -0.8% | -1.1% |
| Crecimiento FCF (anual) | | -56.6% | -1977.8% | +36.5% | +69.3% | +351.9% | -129.4% | +172.5% | -36.3% | -685.7% |
| Margen Bruto | | | 64.4% | 70.9% | 74.2% | 75.6% | 76.7% | 75.4% | 76.0% | 75.6% |
| Margen Operativo | | | -26.7% | -11.4% | 7.9% | 15.5% | 4.9% | 2.9% | -0.3% | 9.9% |
| Margen EBITDA | | | -24.3% | -7.6% | 11.0% | 18.6% | 8.9% | 8.3% | 3.3% | 13.1% |
| Margen Neto | | | -33.5% | -14.8% | 5.1% | 20.2% | 3.4% | 1.1% | 0.2% | 6.6% |
| Margen FCF | | | -32.4% | -15.2% | -3.6% | 6.6% | -2.0% | 1.5% | 0.9% | -4.3% |
| Tasa Impositiva Efectiva | 210.9% | 2.5% | -0.1% | -0.4% | 3.0% | -49.3% | 23.4% | 52.4% | 130.7% | 21.2% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.22 | $-0.05 | $-0.90 | $-0.43 | $-0.11 | $0.23 | $-0.07 | $0.05 | $0.03 | $-0.19 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 |
| Acciones en Circulación (Básicas) | $8.6M | $63.9M | $69.0M | $92.8M | $107.7M | $128.3M | $130.1M | $131.2M | $131.7M | $126.7M |
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 | -24.23% |
| Rentabilidad sobre capital invertido | -8.12% |
| Rentabilidad sobre activos | -22.20% |
| Margen bruto | 67.59% |
| Margen operativo | -6.38% |
| Margen neto | -19.76% |
Salud financiera
| Deuda / Patrimonio | 0.23 |
| Ratio corriente | 3.52 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 4.16 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -401.23 | -302.44 | -10.80 | -10.93 | 47.06 | 12.66 | 22.42 | 108.49 | -450.70 | 32.38 |
| P/VC | 0.28 | 2.13 | 14.88 | 8.03 | 5.72 | 4.91 | 1.32 | 1.93 | 1.09 | 1.51 |
| P/V | 0.00 | 0.00 | 3.62 | 1.71 | 2.40 | 2.54 | 0.78 | 1.24 | 0.87 | 1.17 |
| Margen Bruto | 0.0% | 0.0% | 64.4% | 70.9% | 74.2% | 75.6% | 76.7% | 75.4% | 76.0% | 75.6% |
| Margen Operativo | 0.0% | 0.0% | -26.7% | -11.4% | 7.9% | 15.5% | 4.9% | 2.9% | -0.3% | 9.9% |
| Margen Neto | 0.0% | 0.0% | -33.5% | -14.8% | 5.1% | 20.2% | 3.4% | 1.1% | 0.2% | 6.6% |