Estados financieros detallados de Scholar Rock Holding Corporation (SRRK): 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 0.0%, margen operativo 0.0%, margen neto 0.0%.
Al precio actual de $49.37, SRRK presenta beneficios negativos (P/E no significativo) y un ROE del -160.19%. La capitalización bursátil es de $5.9B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $379000 | 0 | 0 | $20.5M | $15.4M | $18.8M | $33.2M | 0 | 0 | 0 |
| Coste de Ventas | $12.5M | $669000 | $807000 | $54.2M | $74.1M | $108.5M | $123.0M | $2.8M | $1.9M | $208.4M |
| Beneficio Bruto | -$12.1M | -$669000 | -$807000 | -$33.7M | -$58.7M | -$89.7M | -$89.9M | -$2.8M | -$1.9M | -$208.4M |
| I+D | $12.5M | $19.9M | $36.3M | $54.2M | $74.1M | $108.5M | $124.4M | $119.1M | $182.6M | $208.4M |
| Generales y Administrativos | $4.1M | $5.1M | $14.4M | $20.8M | $28.2M | $40.3M | $42.6M | $49.4M | $67.5M | $176.2M |
| Gastos Operativos | $16.6M | $25.0M | $50.7M | $20.8M | $28.2M | $40.3M | $44.5M | $168.5M | $250.1M | $176.2M |
| Beneficio Operativo | -$16.2M | -$25.0M | -$50.7M | -$54.5M | -$86.9M | -$129.9M | -$134.4M | -$171.3M | -$252.1M | -$384.6M |
| EBITDA | -$15.6M | -$24.4M | -$49.9M | -$53.2M | -$85.4M | -$129.2M | -$129.5M | -$162.9M | -$237.5M | -$369.4M |
| Gastos por Intereses | $19000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $6.8M | $6.9M |
| Beneficio Antes de Impuestos | -$16.2M | -$25.0M | -$49.3M | -$51.0M | -$86.5M | -$131.8M | -$134.5M | -$165.8M | -$246.3M | -$377.9M |
| Impuestos | $19000 | -$44000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$16.2M | -$25.0M | -$49.3M | -$51.0M | -$86.5M | -$131.8M | -$134.5M | -$165.8M | -$246.3M | -$377.9M |
| BPA | $-0.91 | $-1.40 | $-3.15 | $-1.80 | $-2.77 | $-3.59 | $-2.21 | $-1.99 | $-2.47 | $-3.29 |
| BPA Diluido | $-0.91 | $-1.40 | $-3.15 | $-1.80 | $-2.77 | $-3.59 | $-2.21 | $-1.99 | $-2.47 | $-3.29 |
| Acciones en Circulación (Diluidas) | $17.9M | $17.9M | $15.7M | $27.5M | $30.7M | $36.7M | $59.6M | $76.0M | $99.8M | $114.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$50.5M | -$46.9M | -$335000 | 0 |
| Beneficio Operativo | -$103.5M | -$91.9M | -$102.0M | -$108.9M |
| EBITDA | -$100.5M | -$88.0M | -$102.9M | -$105.1M |
| Beneficio Neto | -$102.2M | -$91.0M | -$105.5M | -$109.9M |
| BPA | $-0.90 | $-0.74 | $-0.83 | $-0.84 |
| BPA Diluido | $-0.90 | $-0.74 | $-0.83 | $-0.84 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $10.0M | $56.5M | $115.1M | $36.3M | $160.4M | $212.8M | $103.3M | $101.9M | $177.9M | $323.5M |
| Inversiones a Corto | $18.0M | $1.5M | $60.6M | $121.1M | $180.7M | $40.2M | $212.1M | $178.1M | $259.4M | $44.0M |
| Cuentas por Cobrar | 0 | 0 | 0 | $25.0M | 0 | 0 | $2.7M | $1.1M | $2.2M | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $28.5M | $59.2M | $177.9M | $185.2M | $344.4M | $265.3M | $328.0M | $288.2M | $451.2M | $385.1M |
| Inmovilizado Material | $2.4M | $2.2M | $3.2M | $8.6M | $40.4M | $35.0M | $25.9M | $16.0M | $18.4M | $12.1M |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $4.1M | $2.4M | 0 |
| Activos Totales | $32.8M | $61.6M | $181.3M | $196.4M | $388.3M | $304.4M | $358.2M | $311.0M | $474.9M | $404.3M |
| Cuentas por Pagar | $663000 | $1.4M | $3.3M | $1.1M | $3.4M | $4.4M | $4.0M | $3.5M | $10.1M | $10.3M |
| Deuda a Corto | $647000 | $641000 | $424000 | $1.1M | 0 | $9.0M | 0 | $1.3M | 0 | $5.5M |
| Pasivos Corrientes | $3.0M | $5.0M | $31.1M | $32.8M | $42.6M | $64.3M | $36.4M | $32.7M | $46.9M | $55.4M |
| Deuda a Largo | $1.0M | $398000 | $24000 | 0 | $24.7M | $48.4M | $49.7M | $48.7M | $50.1M | $99.7M |
| Pasivos Totales | $62.8M | $115.2M | $74.7M | $83.5M | $127.5M | $132.4M | $97.9M | $85.8M | $106.3M | $158.8M |
| Reservas | -$32.5M | -$57.5M | -$106.8M | -$157.8M | -$244.3M | -$376.1M | -$510.6M | -$676.4M | -$922.7M | -$1.30B |
| Patrimonio Neto | -$30.0M | -$53.5M | $106.6M | $112.9M | $260.8M | $172.1M | $260.2M | $225.2M | $368.6M | $245.5M |
| Deuda Total | $1.7M | $1.0M | $462000 | $5.3M | $57.1M | $84.5M | $69.4M | $61.8M | $65.1M | $108.9M |
| Deuda Neta | -$26.4M | -$56.9M | -$175.2M | -$152.1M | -$283.9M | -$168.5M | -$246.0M | -$218.1M | -$372.2M | -$258.6M |
| Capital Circulante | $25.5M | $54.2M | $146.8M | $152.4M | $301.8M | $201.0M | $291.6M | $255.5M | $404.2M | $329.7M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $286.8M | $323.5M | $430.5M | $437.1M |
| Activos Totales | $411.7M | $404.3M | $535.3M | $523.5M |
| Pasivos Totales | $166.7M | $158.8M | $259.2M | $269.8M |
| Patrimonio Neto | $245.0M | $245.5M | $276.0M | $253.8M |
| Deuda Total | $110.1M | $108.9M | $205.7M | $203.8M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$16.2M | -$25.0M | -$49.3M | -$51.0M | -$86.5M | -$131.8M | -$134.5M | -$165.8M | -$246.3M | -$377.9M |
| Amortizaciones | $575000 | $669000 | $807000 | $1.3M | $1.5M | $2.6M | $3.0M | $2.8M | $1.9M | $1.7M |
| Compensación en Acciones | $556000 | $1.5M | $5.2M | $8.0M | $11.2M | $23.1M | $27.7M | $27.1M | $36.6M | $75.6M |
| Cambio en Capital Circulante | $347000 | $1.5M | $67.9M | -$21.2M | $11.2M | -$28.4M | -$34.4M | -$10.6M | $6.6M | -$1.1M |
| Flujo de Caja Operativo | -$15.1M | -$21.7M | $24.6M | -$63.1M | -$60.3M | -$126.8M | -$132.7M | -$145.2M | -$200.9M | -$300.0M |
| Inversiones (CapEx) | -$794000 | -$361000 | -$1.5M | -$3.1M | -$4.1M | -$5.2M | -$1.1M | -$71000 | -$98000 | -$602000 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | -$15.9M | -$22.1M | $23.1M | -$66.2M | -$64.4M | -$132.0M | -$133.8M | -$145.3M | -$201.0M | -$300.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$68.9M | -$75.5M | -$82.1M | -$69.6M |
| Inversiones (CapEx) | -$84000 | -$32000 | -$68000 | -$1000 |
| Flujo de Caja Libre | -$69.0M | -$75.5M | -$82.2M | -$69.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $18.3M | $19.4M | $18.2M | $19.7M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -100.0% | | | -24.8% | +22.2% | +76.4% | -100.0% | | |
| Crecimiento Beneficio Neto (anual) | | -54.2% | -97.3% | -3.4% | -69.6% | -52.4% | -2.1% | -23.3% | -48.6% | -53.5% |
| Crecimiento BPA (anual) | | -53.8% | -125.0% | +42.9% | -53.9% | -29.6% | +38.4% | +10.0% | -24.1% | -33.2% |
| Cambio en Acciones (anual) | | +0.0% | -12.6% | +75.9% | +11.6% | +19.4% | +62.4% | +27.5% | +31.4% | +14.9% |
| Crecimiento FCF (anual) | | -38.7% | +204.4% | -387.0% | +2.8% | -105.2% | -1.3% | -8.6% | -38.4% | -49.5% |
| Margen Bruto | -3192.1% | | | -164.6% | -380.8% | -476.5% | -270.7% | | | |
| Margen Operativo | -4277.0% | | | -266.2% | -564.0% | -690.5% | -404.8% | | | |
| Margen EBITDA | -4125.3% | | | -259.8% | -554.4% | -686.5% | -390.1% | | | |
| Margen Neto | -4276.3% | | | -248.9% | -561.5% | -700.5% | -405.2% | | | |
| Margen FCF | -4204.5% | | | -323.2% | -417.8% | -701.7% | -403.0% | | | |
| Tasa Impositiva Efectiva | -0.1% | 0.2% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.89 | $-1.23 | $1.47 | $-2.41 | $-2.09 | $-3.60 | $-2.24 | $-1.91 | $-2.01 | $-2.62 |
| 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) | $17.9M | $17.9M | $15.7M | $27.5M | $30.7M | $36.7M | $59.6M | $76.0M | $99.8M | $114.7M |
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 | -160.19% |
| Rentabilidad sobre capital invertido | -88.80% |
| Rentabilidad sobre activos | -78.04% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.80 |
| Ratio corriente | 7.02 |
| Piotroski F-Score | 1 |
| Altman Z-Score | 12.43 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -17.03 | -11.07 | -7.29 | -7.32 | -17.52 | -6.92 | -4.10 | -9.45 | -17.50 | -13.39 |
| P/VC | -9.24 | -5.19 | 3.37 | 3.21 | 5.72 | 5.30 | 2.07 | 6.34 | 11.71 | 20.58 |
| P/V | 732.28 | 0.00 | 0.00 | 17.71 | 96.83 | 48.47 | 16.25 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | -3192.1% | 0.0% | 0.0% | -164.6% | -380.8% | -476.5% | -270.7% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | -4277.0% | 0.0% | 0.0% | -266.2% | -564.0% | -690.5% | -404.8% | 0.0% | 0.0% | 0.0% |
| Margen Neto | -4276.3% | 0.0% | 0.0% | -248.9% | -561.5% | -700.5% | -405.2% | 0.0% | 0.0% | 0.0% |