Estados financieros detallados de Instil Bio, Inc. (TIL): 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 $7.18, TIL presenta beneficios negativos (P/E no significativo) y un ROE del -26.78%. La capitalización bursátil es de $49M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | 0 | $138000 | 0 | 0 | 0 | 0 | 0 |
| Coste de Ventas | $20000 | 0 | 0 | $6.0M | 0 | 0 | $534000 |
| Beneficio Bruto | -$20000 | $138000 | 0 | -$6.0M | 0 | 0 | -$534000 |
| I+D | $4.0M | $19.4M | $107.3M | $141.1M | $39.6M | $11.8M | $10.0M |
| Generales y Administrativos | $2.6M | $14.4M | $51.3M | $62.2M | $47.6M | $44.2M | $27.2M |
| Gastos Operativos | $6.6M | $33.8M | $155.6M | $200.2M | $159.2M | $73.5M | $52.4M |
| Beneficio Operativo | -$6.6M | -$33.6M | -$155.6M | -$206.2M | -$159.2M | -$73.5M | -$52.9M |
| EBITDA | -$6.5M | -$33.4M | -$152.5M | -$217.4M | -$147.1M | -$62.5M | -$65.0M |
| Gastos por Intereses | 0 | 0 | 0 | $1.9M | $5.2M | $9.0M | $5.8M |
| Beneficio Antes de Impuestos | -$6.5M | -$37.6M | -$156.8M | -$225.2M | -$156.1M | -$74.1M | -$71.4M |
| Impuestos | 0 | $151000 | $39000 | -$2.1M | 0 | 0 | 0 |
| Beneficio Neto | -$6.5M | -$37.7M | -$156.8M | -$223.2M | -$156.1M | -$74.1M | -$71.4M |
| BPA | $-1.01 | $-5.89 | $-29.60 | $-34.46 | $-24.00 | $-11.39 | $-10.70 |
| BPA Diluido | $-1.01 | $-5.89 | $-29.60 | $-34.46 | $-24.00 | $-11.39 | $-10.70 |
| Acciones en Circulación (Diluidas) | $6.4M | $6.4M | $5.3M | $6.5M | $6.5M | $6.5M | $6.7M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | 0 | 0 | 0 | 0 |
| Beneficio Bruto | -$12000 | 0 | -$12000 | 0 |
| Beneficio Operativo | -$15.0M | -$9.6M | -$6.0M | -$5.6M |
| EBITDA | -$11.8M | -$7.4M | -$2.6M | -$7.8M |
| Beneficio Neto | -$13.6M | -$8.2M | -$4.2M | -$4.3M |
| BPA | $-2.01 | $-1.21 | $-0.62 | $-0.63 |
| BPA Diluido | $-2.01 | $-1.21 | $-0.62 | $-0.63 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $8.9M | $241.7M | $37.6M | $43.7M | $9.2M | $8.8M | $6.6M |
| Inversiones a Corto | 0 | 0 | $416.5M | $217.2M | $141.2M | $104.5M | $69.5M |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | $848000 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $9.3M | $246.1M | $464.0M | $269.4M | $160.8M | $124.5M | $191.4M |
| Inmovilizado Material | $190000 | $55.3M | $122.0M | $209.3M | $141.1M | $130.3M | $364000 |
| Fondo de Comercio | 0 | $5.7M | $5.7M | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | $10.1M | $10.1M | 0 | 0 | 0 | 0 |
| Activos Totales | $9.5M | $319.0M | $610.0M | $482.1M | $325.6M | $263.6M | $203.5M |
| Cuentas por Pagar | $979000 | $3.5M | $5.6M | $2.4M | $1.2M | $659000 | $779000 |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pasivos Corrientes | $1.4M | $13.3M | $41.4M | $32.8M | $10.6M | $7.9M | $4.8M |
| Deuda a Largo | 0 | 0 | 0 | $72.3M | $81.4M | $84.2M | $84.8M |
| Pasivos Totales | $1.4M | $26.6M | $54.8M | $118.5M | $99.8M | $94.1M | $89.7M |
| Reservas | -$7.2M | -$44.9M | -$201.7M | -$424.9M | -$581.0M | -$655.1M | -$726.5M |
| Patrimonio Neto | $8.1M | $292.4M | $555.2M | $363.6M | $225.8M | $169.4M | $113.9M |
| Deuda Total | 0 | 0 | 0 | $79.9M | $86.1M | $86.9M | $85.2M |
| Deuda Neta | -$8.9M | -$241.7M | -$454.1M | -$181.0M | -$64.3M | -$26.4M | $9.0M |
| Capital Circulante | $7.9M | $232.9M | $422.7M | $236.6M | $150.2M | $116.6M | $186.6M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $5.8M | $6.6M | $5.0M | $5.5M |
| Activos Totales | $211.8M | $203.5M | $200.4M | $197.7M |
| Pasivos Totales | $91.3M | $89.7M | $89.7M | $90.3M |
| Patrimonio Neto | $120.4M | $113.9M | $110.7M | $107.4M |
| Deuda Total | $84.9M | $85.2M | $85.2M | $3.7M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$6.5M | -$37.7M | -$156.8M | -$223.2M | -$156.1M | -$74.1M | -$71.4M |
| Amortizaciones | $20000 | $256000 | $2.8M | $6.0M | $4.8M | $3.6M | $534000 |
| Compensación en Acciones | $293000 | $1.7M | $26.2M | $30.4M | $18.2M | $17.3M | $8.7M |
| Cambio en Capital Circulante | $366000 | $1.5M | $4.4M | -$9.6M | -$9.0M | -$12.6M | -$560000 |
| Flujo de Caja Operativo | -$5.3M | -$29.6M | -$122.1M | -$180.2M | -$82.0M | -$55.7M | -$36.6M |
| Inversiones (CapEx) | -$760000 | -$50.8M | -$57.8M | -$84.6M | -$20.7M | -$10.0M | 0 |
| Adquisiciones | 0 | -$306000 | 0 | $1.2M | 0 | 0 | $432000 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$6.1M | -$80.4M | -$180.0M | -$264.8M | -$102.7M | -$65.7M | -$36.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$10.6M | -$7.1M | -$1.3M | -$4.6M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$10.6M | -$7.1M | -$1.3M | -$4.6M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.8M | $1.6M | $985000 | $1.0M |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | | -100.0% | | | | |
| Crecimiento Beneficio Neto (anual) | | -484.7% | -315.5% | -42.3% | +30.1% | +52.5% | +3.7% |
| Crecimiento BPA (anual) | | -483.2% | -402.5% | -16.4% | +30.4% | +52.5% | +6.1% |
| Cambio en Acciones (anual) | | +0.0% | -17.3% | +22.2% | +0.4% | +0.1% | +2.4% |
| Crecimiento FCF (anual) | | -1228.8% | -123.8% | -47.1% | +61.2% | +36.0% | +44.3% |
| Margen Bruto | | 100.0% | | | | | |
| Margen Operativo | | -24379.7% | | | | | |
| Margen EBITDA | | -24194.2% | | | | | |
| Margen Neto | | -27346.4% | | | | | |
| Margen FCF | | -58284.1% | | | | | |
| Tasa Impositiva Efectiva | -0.0% | -0.4% | -0.0% | 0.9% | -0.0% | -0.0% | -0.0% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-0.94 | $-12.55 | $-33.96 | $-40.88 | $-15.79 | $-10.09 | $-5.49 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $6.4M | $6.4M | $5.3M | $6.5M | $6.5M | $6.5M | $6.7M |
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 | -26.78% |
| Rentabilidad sobre capital invertido | -18.61% |
| Rentabilidad sobre activos | -15.32% |
| Margen bruto | 0.00% |
| Margen operativo | 0.00% |
| Margen neto | 0.00% |
Salud financiera
| Deuda / Patrimonio | 0.03 |
| Ratio corriente | 21.67 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -523.56 | -89.78 | -11.56 | -0.37 | -0.32 | -1.68 | -1.03 |
| P/VC | 420.80 | 11.59 | 3.27 | 0.22 | 0.22 | 0.73 | 0.64 |
| P/V | 0.00 | 24564.72 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Margen Bruto | 0.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Operativo | 0.0% | -24379.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Margen Neto | 0.0% | -27346.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |