Estados financieros detallados de Sight Sciences, Inc. (SGHT): 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
Sight Sciences, Inc. registró ingresos de $77.4M en el último ejercicio fiscal, con un CAGR de 5 años del 22.9%.
Márgenes de los últimos 12 meses: margen bruto 88.0%, margen operativo -33.4%, margen neto -35.7%.
Al precio actual de $8.14, SGHT presenta beneficios negativos (P/E no significativo) y un ROE del -50.64%. La capitalización bursátil es de $443M.
Cuenta de Resultados (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $7.5M | $23.3M | $27.6M | $49.0M | $71.3M | $81.1M | $79.9M | $77.4M |
| Coste de Ventas | $2.3M | $6.5M | $9.2M | $8.6M | $12.4M | $11.9M | $11.6M | $10.7M |
| Beneficio Bruto | $5.2M | $16.8M | $18.4M | $40.3M | $59.0M | $69.2M | $68.3M | $66.7M |
| I+D | $5.4M | $8.1M | $8.9M | $15.6M | $22.9M | $17.6M | $18.0M | $14.6M |
| Generales y Administrativos | $14.1M | $32.7M | $41.7M | $76.2M | $120.1M | $108.9M | $100.8M | $89.2M |
| Gastos Operativos | $19.5M | $40.8M | $50.6M | $91.8M | $142.9M | $126.4M | $118.8M | $103.8M |
| Beneficio Operativo | -$14.3M | -$24.0M | -$32.2M | -$51.5M | -$84.0M | -$57.3M | -$50.5M | -$37.1M |
| EBITDA | -$14.2M | -$23.5M | -$31.7M | -$57.2M | -$80.5M | -$49.4M | -$45.9M | -$32.8M |
| Gastos por Intereses | 0 | $2.0M | $2.4M | $4.4M | $4.5M | $5.4M | $4.7M | $5.1M |
| Beneficio Antes de Impuestos | -$14.3M | -$25.9M | -$34.6M | -$62.8M | -$86.2M | -$55.4M | -$51.3M | -$38.4M |
| Impuestos | -$6000 | $8000 | $61000 | $188000 | $47000 | $110000 | $236000 | $10000 |
| Beneficio Neto | -$14.3M | -$25.9M | -$34.7M | -$63.0M | -$86.2M | -$55.5M | -$51.5M | -$38.4M |
| BPA | $-0.44 | $-0.55 | $-0.74 | $-1.33 | $-1.80 | $-1.14 | $-1.03 | $-0.74 |
| BPA Diluido | $-0.44 | $-0.77 | $-0.74 | $-1.33 | $-1.80 | $-1.14 | $-1.03 | $-0.74 |
| Acciones en Circulación (Diluidas) | $32.2M | $33.6M | $46.8M | $47.5M | $47.8M | $48.6M | $50.1M | $52.1M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $19.9M | $20.4M | $19.7M | $23.4M |
| Beneficio Bruto | $17.2M | $17.8M | $17.0M | $21.4M |
| Beneficio Operativo | -$7.9M | -$3.7M | -$12.4M | -$3.9M |
| EBITDA | -$6.8M | -$2.8M | -$11.6M | -$4.6M |
| Beneficio Neto | -$8.2M | -$4.2M | -$13.0M | -$4.4M |
| BPA | $-0.16 | $-0.08 | $-0.24 | $-0.08 |
| BPA Diluido | $-0.16 | $-0.08 | $-0.24 | $-0.08 |
Balance (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $4.2M | $21.2M | $61.5M | $260.7M | $185.0M | $138.1M | $120.4M | $92.0M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | $1.8M | $4.1M | $5.4M | $8.7M | $15.1M | $14.3M | $10.8M | $9.7M |
| Inventario | $486000 | $2.2M | $2.6M | $3.5M | $6.1M | $7.8M | $6.3M | $7.8M |
| Activos Corrientes | $7.2M | $28.0M | $70.6M | $277.0M | $209.7M | $162.9M | $139.8M | $112.7M |
| Inmovilizado Material | $868000 | $2.6M | $1.8M | $2.9M | $3.2M | $3.1M | $2.5M | $2.0M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $8.1M | $30.7M | $72.8M | $280.2M | $213.1M | $166.7M | $142.8M | $115.3M |
| Cuentas por Pagar | $1.9M | $2.3M | $2.2M | $3.4M | $2.7M | $1.7M | $1.7M | $1.3M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | $2.2M | 0 | 0 |
| Pasivos Corrientes | $2.9M | $7.3M | $9.3M | $13.5M | $17.8M | $12.3M | $15.5M | $11.0M |
| Deuda a Largo | $34.2M | $12.9M | $32.0M | $32.7M | $33.3M | $31.7M | $39.4M | $40.3M |
| Pasivos Totales | $37.1M | $85.4M | $161.7M | $48.1M | $53.0M | $46.4M | $55.3M | $51.4M |
| Reservas | -$29.5M | -$55.3M | -$90.0M | -$153.0M | -$239.2M | -$294.8M | -$346.3M | -$384.7M |
| Patrimonio Neto | -$29.0M | -$54.7M | -$88.8M | $232.1M | $160.1M | $120.2M | $87.5M | $63.9M |
| Deuda Total | $34.2M | $13.9M | $32.5M | $34.2M | $35.0M | $35.4M | $40.4M | $40.8M |
| Deuda Neta | $29.9M | -$7.3M | -$29.0M | -$226.5M | -$150.0M | -$102.7M | -$80.0M | -$51.2M |
| Capital Circulante | $4.3M | $20.7M | $61.3M | $263.5M | $191.9M | $150.6M | $124.3M | $101.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $92.4M | $92.0M | $85.0M | $79.8M |
| Activos Totales | $116.3M | $115.3M | $109.7M | $104.9M |
| Pasivos Totales | $52.0M | $51.4M | $55.8M | $52.0M |
| Patrimonio Neto | $64.3M | $63.9M | $53.9M | $52.9M |
| Deuda Total | $40.7M | $40.8M | $41.8M | $42.0M |
Flujo de Caja (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$14.3M | -$25.9M | -$34.7M | -$63.0M | -$86.2M | -$55.5M | -$51.5M | -$38.4M |
| Amortizaciones | $63000 | $295000 | $554000 | $632000 | $710000 | $614000 | $712000 | $487000 |
| Compensación en Acciones | $52000 | $118000 | $497000 | $5.1M | $13.0M | $14.6M | $17.1M | $13.1M |
| Cambio en Capital Circulante | -$358000 | -$341000 | $784000 | -$4.3M | -$5.7M | -$9.1M | $9.0M | -$6.4M |
| Flujo de Caja Operativo | -$14.5M | -$25.0M | -$32.2M | -$52.5M | -$76.0M | -$47.2M | -$22.4M | -$29.7M |
| Inversiones (CapEx) | -$570000 | -$672000 | -$953000 | -$813000 | -$970000 | -$791000 | -$385000 | -$224000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 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 | -$15.0M | -$25.7M | -$33.1M | -$53.4M | -$76.9M | -$48.0M | -$22.7M | -$29.9M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$8.7M | -$1.8M | -$7.0M | -$5.7M |
| Inversiones (CapEx) | -$170000 | $156000 | -$60000 | -$19000 |
| Flujo de Caja Libre | -$8.9M | -$1.7M | -$7.1M | -$5.7M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $2.4M | $2.5M | $2.9M | $3.0M |
Crecimiento y Márgenes (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +210.1% | +18.4% | +77.1% | +45.7% | +13.6% | -1.5% | -3.1% |
| Crecimiento Beneficio Neto (anual) | | -81.0% | -34.1% | -81.5% | -37.0% | +35.6% | +7.3% | +25.4% |
| Crecimiento BPA (anual) | | -25.0% | -34.5% | -79.7% | -35.3% | +36.7% | +9.6% | +28.2% |
| Cambio en Acciones (anual) | | +4.4% | +39.1% | +1.6% | +0.7% | +1.6% | +3.1% | +4.0% |
| Crecimiento FCF (anual) | | -70.6% | -29.1% | -61.1% | -44.2% | +37.6% | +52.6% | -31.6% |
| Margen Bruto | 69.0% | 72.0% | 66.7% | 82.4% | 82.7% | 85.3% | 85.5% | 86.2% |
| Margen Operativo | -189.9% | -103.0% | -116.5% | -105.2% | -117.7% | -70.7% | -63.3% | -48.0% |
| Margen EBITDA | -189.0% | -100.5% | -114.6% | -116.8% | -112.8% | -61.0% | -57.5% | -42.4% |
| Margen Neto | -189.8% | -110.8% | -125.5% | -128.6% | -120.9% | -68.5% | -64.5% | -49.7% |
| Margen FCF | -199.8% | -109.9% | -119.9% | -109.0% | -107.9% | -59.2% | -28.5% | -38.7% |
| Tasa Impositiva Efectiva | 0.0% | -0.0% | -0.2% | -0.3% | -0.1% | -0.2% | -0.5% | -0.0% |
Datos por Acción (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.47 | $-0.76 | $-0.71 | $-1.12 | $-1.61 | $-0.99 | $-0.45 | $-0.57 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $32.2M | $33.6M | $46.8M | $47.5M | $47.8M | $48.6M | $50.1M | $52.1M |
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 | -50.64% |
| Rentabilidad sobre capital invertido | -29.34% |
| Rentabilidad sobre activos | -28.37% |
| Margen bruto | 87.96% |
| Margen operativo | -33.43% |
| Margen neto | -35.69% |
Salud financiera
| Deuda / Patrimonio | 0.79 |
| Ratio corriente | 4.95 |
Ratios Clave (10 años)
| Año | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -76.14 | -60.91 | -45.27 | -13.21 | -6.78 | -4.53 | -3.53 | -10.72 |
| P/VC | -37.25 | -20.60 | -17.63 | 3.60 | 3.65 | 2.09 | 2.09 | 6.47 |
| P/V | 143.27 | 48.25 | 56.68 | 17.05 | 8.19 | 3.10 | 2.28 | 5.35 |
| Margen Bruto | 69.0% | 72.0% | 66.7% | 82.4% | 82.7% | 85.3% | 85.5% | 86.2% |
| Margen Operativo | -189.9% | -103.0% | -116.5% | -105.2% | -117.7% | -70.7% | -63.3% | -48.0% |
| Margen Neto | -189.8% | -110.8% | -125.5% | -128.6% | -120.9% | -68.5% | -64.5% | -49.7% |