Estados financieros detallados de Savara Inc. (SVRA): 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 $5.13, SVRA presenta beneficios negativos (P/E no significativo) y un ROE del -90.28%. La capitalización bursátil es de $1.1B.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $400000 | 0 | 0 | 0 | $257000 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | 0 | $363000 | $526000 | $38.8M | $35.0M | $29.0M | $27.9M | $44.3M | $78.0M | $245000 |
| Beneficio Bruto | $400000 | -$363000 | -$526000 | -$38.8M | -$34.8M | -$29.0M | -$27.9M | -$44.3M | -$78.0M | -$245000 |
| I+D | $8.2M | $18.5M | $37.2M | $38.8M | $35.0M | $29.0M | $27.9M | $44.3M | $78.0M | $81.4M |
| Generales y Administrativos | $2.8M | $11.1M | $10.7M | $12.9M | $12.0M | $12.3M | $10.9M | $15.7M | $25.0M | $42.1M |
| Gastos Operativos | $11.3M | $30.0M | $48.4M | $40.2M | $14.5M | $12.5M | $11.0M | $15.7M | $25.2M | $123.3M |
| Beneficio Operativo | -$10.9M | -$30.0M | -$70.0M | -$79.0M | -$49.3M | -$41.5M | -$38.8M | -$60.0M | -$103.2M | -$123.5M |
| EBITDA | -$10.5M | -$31.9M | -$69.5M | -$50.4M | -$45.9M | -$40.5M | -$38.0M | -$59.1M | -$102.3M | -$118.6M |
| Gastos por Intereses | $468000 | $1.2M | $11000 | $70000 | $1.5M | $2.3M | $88000 | 0 | 0 | 0 |
| Beneficio Antes de Impuestos | -$11.3M | -$33.4M | -$70.0M | -$78.2M | -$49.6M | -$43.0M | -$38.1M | -$54.7M | -$95.9M | -$118.8M |
| Impuestos | -$357000 | -$3.6M | -$8.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Beneficio Neto | -$10.9M | -$29.8M | -$61.5M | -$78.2M | -$49.6M | -$43.0M | -$38.1M | -$54.7M | -$95.9M | -$118.8M |
| BPA | $-3.27 | $-1.70 | $-1.85 | $-2.62 | $-0.84 | $-0.32 | $-0.25 | $-0.33 | $-0.48 | $-0.53 |
| BPA Diluido | $-3.27 | $-1.70 | $-1.85 | $-2.62 | $-0.84 | $-0.32 | $-0.25 | $-0.33 | $-0.48 | $-0.53 |
| Acciones en Circulación (Diluidas) | $3.3M | $17.5M | $33.3M | $40.0M | $59.3M | $133.9M | $152.8M | $165.2M | $198.2M | $222.4M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$20.6M | -$40000 | -$66000 | 0 |
| Beneficio Operativo | -$30.3M | -$33.4M | -$39.0M | -$41.0M |
| EBITDA | -$29.5M | -$32.2M | -$37.2M | -$40.2M |
| Beneficio Neto | -$29.6M | -$32.2M | -$37.3M | -$40.2M |
| BPA | $-0.14 | $-0.13 | $-0.15 | $-0.16 |
| BPA Diluido | $-0.14 | $-0.13 | $-0.15 | $-0.16 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $13.4M | $22.1M | $24.3M | $49.8M | $22.9M | $34.0M | $52.1M | $26.6M | $15.1M | $33.2M |
| Inversiones a Corto | 0 | $72.2M | $86.5M | $72.0M | $59.3M | $127.2M | $73.8M | $135.7M | $181.2M | $202.5M |
| Cuentas por Cobrar | $868000 | $1.0M | $1.7M | $1.6M | $1.7M | $1.1M | $954000 | $1.0M | $1.0M | $1.3M |
| Inventario | $337000 | $2.5M | 0 | -$1.6M | 0 | -$1.1M | $2.1M | 0 | 0 | 0 |
| Activos Corrientes | $14.6M | $97.9M | $113.3M | $124.1M | $85.1M | $165.0M | $129.0M | $165.9M | $202.1M | $241.6M |
| Inmovilizado Material | $793000 | $925000 | $522000 | $352000 | $156000 | $73000 | $51000 | $270000 | $165000 | $100000 |
| Fondo de Comercio | $3.1M | $27.1M | $26.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | $10.5M | $33.6M | $11.4M | $11.1M | $12.2M | $11.3M | $10.7M | $11.0M | $10.3M | $11.6M |
| Activos Totales | $28.9M | $159.6M | $152.3M | $136.2M | $97.7M | $176.6M | $139.8M | $177.6M | $212.9M | $253.4M |
| Cuentas por Pagar | $536000 | $2.8M | $3.9M | $3.4M | $2.6M | $1.4M | $1.3M | $3.5M | $4.5M | $5.8M |
| Deuda a Corto | 0 | 0 | 0 | $2.0M | 0 | $8.3M | 0 | 0 | 0 | $7000 |
| Pasivos Corrientes | $3.5M | $6.0M | $7.3M | $10.9M | $8.2M | $14.7M | $5.9M | $10.6M | $14.7M | $20.4M |
| Deuda a Largo | $3.4M | $14.8M | $24.5M | $23.1M | $25.1M | $17.3M | $26.1M | $26.3M | $26.6M | $29.9M |
| Pasivos Totales | $64.8M | $40.3M | $152.3M | $34.5M | $33.4M | $32.1M | $32.0M | $37.2M | $41.4M | $50.3M |
| Reservas | -$38.4M | -$68.2M | -$129.7M | -$207.9M | -$257.5M | -$300.5M | -$338.7M | -$393.4M | -$489.2M | -$608.1M |
| Patrimonio Neto | -$35.9M | $119.3M | $108.2M | $101.7M | $64.4M | $144.5M | $107.8M | $140.4M | $171.4M | $203.1M |
| Deuda Total | $4.5M | $15.3M | $24.6M | $25.6M | $25.3M | $25.8M | $26.1M | $26.5M | $26.7M | $29.9M |
| Deuda Neta | -$8.9M | -$79.0M | -$86.3M | -$96.2M | -$56.9M | -$135.4M | -$99.7M | -$135.8M | -$169.6M | -$205.8M |
| Capital Circulante | $11.2M | $91.8M | $106.1M | $113.2M | $76.9M | $150.3M | $123.1M | $155.3M | $187.4M | $221.2M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $16.3M | $33.2M | $38.8M | $41.8M |
| Activos Totales | $140.9M | $253.4M | $221.6M | $192.1M |
| Pasivos Totales | $46.5M | $50.3M | $45.6M | $48.5M |
| Patrimonio Neto | $94.4M | $203.1M | $176.0M | $143.7M |
| Deuda Total | $29.8M | $29.9M | $30.1M | $30.1M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$10.9M | -$29.8M | -$61.5M | -$78.2M | -$49.6M | -$43.0M | -$38.1M | -$54.7M | -$95.9M | -$118.8M |
| Amortizaciones | $346000 | $363000 | $526000 | $1.0M | $693000 | $367000 | $167000 | $77000 | $130000 | $87000 |
| Compensación en Acciones | $209000 | $552000 | $3.7M | $4.4M | $5.1M | $3.3M | $2.0M | $4.2M | $9.9M | $14.4M |
| Cambio en Capital Circulante | $1.5M | -$2.0M | $2.4M | $847000 | -$1.7M | -$2.8M | $960000 | $4.1M | $1.8M | $5.0M |
| Flujo de Caja Operativo | -$8.4M | -$28.2M | -$39.3M | -$45.1M | -$39.8M | -$40.1M | -$34.6M | -$51.1M | -$89.1M | -$101.0M |
| Inversiones (CapEx) | -$8000 | -$495000 | -$141000 | -$148000 | -$3.3M | -$57000 | -$9000 | -$296000 | -$25000 | -$22000 |
| Adquisiciones | 0 | $3.4M | -$10.3M | -$14.1M | $3.2M | -$8.2M | 0 | $56820 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | -$78000 | -$3000 | -$1.2M | -$995000 | -$5.1M |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$8.4M | -$28.7M | -$39.4M | -$45.3M | -$43.1M | -$40.1M | -$34.6M | -$51.4M | -$89.1M | -$101.1M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$22.5M | -$25.1M | -$33.0M | -$29.7M |
| Inversiones (CapEx) | -$2000 | -$2000 | -$54000 | -$222000 |
| Flujo de Caja Libre | -$22.5M | -$25.1M | -$33.1M | -$30.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.4M | $5.4M | $10.7M | $7.8M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -100.0% | | | | -100.0% | | | | |
| Crecimiento Beneficio Neto (anual) | | -172.8% | -106.5% | -27.1% | +36.5% | +13.3% | +11.3% | -43.4% | -75.3% | -23.9% |
| Crecimiento BPA (anual) | | +48.0% | -8.8% | -41.6% | +67.9% | +61.9% | +21.9% | -32.0% | -45.5% | -10.4% |
| Cambio en Acciones (anual) | | +423.7% | +90.1% | +20.2% | +48.2% | +125.8% | +14.1% | +8.1% | +20.0% | +12.2% |
| Crecimiento FCF (anual) | | -242.9% | -37.2% | -14.9% | +4.7% | +6.9% | +13.9% | -48.6% | -73.5% | -13.4% |
| Margen Bruto | 100.0% | | | | -13533.5% | | | | | |
| Margen Operativo | -2737.0% | | | | -19182.9% | | | | | |
| Margen EBITDA | -2620.5% | | | | -17841.2% | | | | | |
| Margen Neto | -2730.8% | | | | -19305.4% | | | | | |
| Margen FCF | -2094.5% | | | | -16782.1% | | | | | |
| Tasa Impositiva Efectiva | 3.2% | 10.9% | 12.2% | -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 | $-2.50 | $-1.64 | $-1.18 | $-1.13 | $-0.73 | $-0.30 | $-0.23 | $-0.31 | $-0.45 | $-0.45 |
| 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) | $3.3M | $17.5M | $33.3M | $40.0M | $59.3M | $133.9M | $152.8M | $165.2M | $198.2M | $222.4M |
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 | -90.28% |
| Rentabilidad sobre capital invertido | -82.30% |
| Rentabilidad sobre activos | -72.50% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.21 |
| Ratio corriente | 10.13 |
| Piotroski F-Score | 2 |
| Altman Z-Score | 12.07 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -2.68 | -8.73 | -4.09 | -1.71 | -1.37 | -3.88 | -6.20 | -14.24 | -6.40 | -11.38 |
| P/VC | -0.82 | 2.18 | 2.33 | 1.76 | 1.06 | 1.15 | 2.20 | 5.53 | 3.55 | 6.60 |
| P/V | 73.26 | 0.00 | 0.00 | 0.00 | 265.39 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 100.0% | 0.0% | 0.0% | 0.0% | -13533.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | -2737.0% | 0.0% | 0.0% | 0.0% | -19182.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | -2730.8% | 0.0% | 0.0% | 0.0% | -19305.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |