Demonstrações financeiras detalhadas de Adeia Inc. (ADEA): demonstração de resultados, balanço patrimonial e fluxo de caixa. Acompanhe a evolução de margens, dívida, liquidez e rentabilidade ano a ano com até 20 anos de histórico.
Resumo da Análise
Adeia Inc. registou receitas de $443.4M no último exercício, com um CAGR de 5 anos de -13.0%. O lucro líquido atingiu $111.1M, com CAGR de 5 anos de -5.4%.
Margens dos últimos 12 meses: margem bruta 75.4%, margem operacional 45.7%, margem líquida 26.1%. O fluxo de caixa livre cresceu a CAGR de -16.6% em 5 anos.
Ao preço atual de $24.97, ADEA negocia a um P/L de 20.50 e um ROE de 26.70%. A capitalização de mercado é de $2.8B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $259.6M | $373.7M | $406.1M | $280.1M | $892.0M | $877.7M | $438.9M | $388.8M | $376.0M | $443.4M |
| Custo da Receita | $34.7M | $125.4M | $121.7M | $115.1M | $253.1M | $354.0M | $114.2M | $95.3M | $72.8M | $56.6M |
| Lucro Bruto | $224.9M | $248.3M | $284.4M | $164.9M | $638.9M | $523.7M | $324.7M | $293.5M | $303.2M | $386.8M |
| P&D | $44.7M | $105.8M | $106.4M | $112.3M | $195.2M | $232.2M | $44.6M | $54.3M | $59.6M | $67.5M |
| Despesas Gerais e Administrativas | $45.9M | $137.4M | $127.9M | $116.2M | $245.4M | $266.1M | $118.5M | $93.7M | $101.4M | $110.2M |
| Despesas Operacionais | $90.6M | $243.3M | $234.3M | $228.5M | $440.5M | $498.3M | $163.1M | $148.0M | $161.0M | $177.7M |
| Lucro Operacional | $134.2M | $5.0M | $50.1M | -$63.6M | $198.4M | $25.5M | $161.6M | $145.6M | $142.3M | $209.1M |
| EBITDA | $127.3M | $89.1M | $147.7M | $47.0M | $348.5M | $235.6M | $269.3M | $237.8M | $206.5M | $239.9M |
| Despesas com Juros | $2.4M | $28.3M | $25.7M | $23.4M | $37.9M | $39.0M | $45.3M | $62.6M | $52.5M | $40.4M |
| Lucro Antes de Impostos | $90.7M | -$58.3M | $6.9M | -$83.1M | $135.9M | -$30.5M | $109.8M | $80.0M | $81.2M | $140.9M |
| Imposto | $34.6M | -$1.8M | $8.7M | -$19.0M | -$7.9M | $28.4M | -$28.6M | $12.6M | $16.6M | $29.8M |
| Lucro Líquido | $56.1M | -$56.6M | -$289000 | -$62.5M | $146.8M | -$55.5M | -$295.9M | $67.4M | $64.6M | $111.1M |
| LPA | $1.14 | $-1.15 | $-0.01 | $-1.27 | $1.77 | $-0.53 | $-2.84 | $0.63 | $0.59 | $1.02 |
| LPA Diluído | $1.12 | $-1.15 | $-0.01 | $-1.27 | $1.75 | $-0.53 | $-2.84 | $0.60 | $0.57 | $0.99 |
| Ações em Circulação (Diluídas) | $50.2M | $49.3M | $48.8M | $49.1M | $83.9M | $104.7M | $107.6M | $112.8M | $113.1M | $113.0M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $87.3M | $182.6M | $104.8M | $96.1M |
| Lucro Bruto | $72.7M | $168.4M | $88.3M | $25.4M |
| Lucro Operacional | $32.2M | $116.7M | $40.8M | $25.4M |
| EBITDA | $43.1M | $125.1M | $52.9M | $39.8M |
| Lucro Líquido | $8.8M | $73.7M | $22.8M | $17.4M |
| LPA | $0.08 | $0.68 | $0.21 | $0.16 |
| LPA Diluído | $0.08 | $0.65 | $0.20 | $0.15 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $65.6M | $138.3M | $113.6M | $74.6M | $170.2M | $80.4M | $114.6M | $54.6M | $78.8M | $73.1M |
| Investimentos de Curto Prazo | $47.4M | $62.4M | $40.7M | $46.9M | $86.9M | $60.5M | 0 | $29.0M | $31.6M | $63.6M |
| Contas a Receber | $67.8M | $27.9M | $225.7M | $146.0M | $248.4M | $90.9M | $132.2M | $114.6M | $138.9M | $158.5M |
| Estoque | 0 | 0 | $15.1M | $100000 | $9.8M | $5.1M | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $199.9M | $245.5M | $397.5M | $281.2M | $546.3M | $519.5M | $258.7M | $205.8M | $258.4M | $304.0M |
| Imobilizado | $38.9M | $34.4M | $31.0M | $50.7M | $143.4M | $11.6M | $10.5M | $16.5M | $15.6M | $14.3M |
| Ágio | $383.0M | $385.6M | $385.8M | $385.8M | $847.0M | $314.6M | $313.7M | $313.7M | $313.7M | $313.7M |
| Ativos Intangíveis | $541.9M | $431.8M | $327.7M | $232.3M | $1.00B | $547.0M | $432.5M | $347.2M | $301.2M | $303.5M |
| Ativos Totais | $1.19B | $1.11B | $1.24B | $1.05B | $2.70B | $2.47B | $1.21B | $1.11B | $1.10B | $1.04B |
| Contas a Pagar | $7.5M | $4.2M | $2.8M | $4.7M | $13.0M | $448000 | $8.5M | $9.6M | $8.0M | $4.8M |
| Dívida de Curto Prazo | $6.0M | $34.5M | 0 | 0 | $43.7M | $36.1M | $111.9M | $66.1M | $21.5M | $21.0M |
| Passivos Circulantes | $51.0M | $96.8M | $54.1M | $48.1M | $224.7M | $189.7M | $166.7M | $102.0M | $73.1M | $79.8M |
| Dívida de Longo Prazo | $577.2M | $545.2M | $482.2M | $334.7M | $795.7M | $729.4M | $619.6M | $519.5M | $454.4M | $397.5M |
| Passivos Totais | $678.7M | $674.4M | $617.0M | $502.8M | $1.25B | $1.13B | $909.1M | $748.9M | $701.4M | $558.8M |
| Reservas | $163.8M | $68.6M | $253.2M | $148.3M | $264.2M | $187.8M | -$123.7M | -$56.3M | $2.8M | $92.1M |
| Patrimônio Líquido | $507.8M | $435.6M | $619.4M | $547.9M | $1.46B | $1.35B | $301.4M | $356.6M | $396.6M | $480.5M |
| Dívida Total | $583.2M | $579.7M | $482.2M | $353.9M | $923.5M | $772.9M | $736.3M | $595.9M | $485.4M | $427.7M |
| Dívida Líquida | $470.2M | $379.0M | $327.8M | $232.5M | $666.4M | $631.9M | $621.7M | $512.4M | $375.0M | $291.0M |
| Capital de Giro | $148.9M | $148.7M | $343.4M | $233.1M | $321.6M | $329.7M | $92.0M | $103.8M | $185.3M | $224.2M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $56.1M | $73.1M | $53.3M | $72.8M |
| Ativos Totais | $1.07B | $1.04B | $1.00B | $1.01B |
| Passivos Totais | $654.9M | $558.8M | $535.8M | $536.3M |
| Patrimônio Líquido | $413.7M | $480.5M | $466.6M | $477.2M |
| Dívida Total | $448.1M | $427.7M | $400.4M | $395.3M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $56.1M | -$56.6M | -$1.8M | -$64.0M | $143.8M | -$58.9M | -$298.6M | $67.4M | $64.6M | $111.1M |
| Depreciação e Amortização | $34.1M | $119.1M | $115.1M | $106.7M | $174.7M | $227.2M | $160.4M | $95.3M | $72.8M | $58.6M |
| Compensação em Ações | $21.1M | $33.5M | $31.0M | $31.6M | $39.1M | $58.2M | $52.6M | $18.1M | $26.6M | $34.7M |
| Variação Capital de Giro | $30.6M | $65.7M | $1.0M | $131.0M | $76.8M | $4.6M | -$50.3M | -$43.4M | $53.2M | -$82.8M |
| Fluxo de Caixa Operacional | $145.6M | $147.3M | $135.1M | $169.3M | $427.6M | $234.8M | $183.0M | $152.8M | $212.5M | $158.1M |
| CapEx | -$13.4M | -$3.5M | -$7.4M | -$13.3M | -$58.3M | -$14.1M | -$12.9M | -$6.3M | -$22.3M | -$8.8M |
| Aquisições | -$888.2M | $176000 | -$500000 | $4.5M | $117.4M | -$17.4M | -$50.5M | 0 | 0 | 0 |
| Recompra de Ações | -$70.6M | -$19.3M | -$44.8M | -$4.5M | -$80.6M | -$100.8M | -$33.2M | -$11.3M | -$31.5M | -$43.8M |
| Dividendos Pagos | -$39.2M | -$39.5M | -$39.2M | -$39.5M | -$30.8M | -$21.0M | -$203.8M | -$21.3M | -$21.8M | -$21.8M |
| Fluxo de Caixa Livre | $132.3M | $143.8M | $127.7M | $155.9M | $369.3M | $220.7M | $170.2M | $146.4M | $190.2M | $149.3M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $17.8M | $60.0M | $58.5M | $54.6M |
| CapEx | -$1.5M | -$1.4M | -$5.9M | -$561000 |
| Fluxo de Caixa Livre | $16.3M | $58.6M | $52.6M | $54.1M |
| Dividendos Pagos | -$5.5M | -$5.4M | -$5.5M | -$5.5M |
| Compensação em Ações | $8.7M | $9.0M | $8.8M | $10.5M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +44.0% | +8.7% | -31.0% | +218.5% | -1.6% | -50.0% | -11.4% | -3.3% | +17.9% |
| Crescimento Lucro Líquido (anual) | | -200.8% | +99.5% | -21536.7% | +334.7% | -137.8% | -433.5% | +122.8% | -4.1% | +71.9% |
| Crescimento LPA (anual) | | -200.9% | +99.5% | -21425.4% | +239.4% | -129.9% | -435.8% | +122.2% | -6.3% | +72.9% |
| Variação de Ações (anual) | | -1.9% | -0.9% | +0.6% | +70.7% | +24.9% | +2.7% | +4.9% | +0.2% | -0.1% |
| Crescimento FCF (anual) | | +8.7% | -11.2% | +22.1% | +136.8% | -40.2% | -22.9% | -14.0% | +29.9% | -21.5% |
| Margem Bruta | 86.6% | 66.4% | 70.0% | 58.9% | 71.6% | 59.7% | 74.0% | 75.5% | 80.6% | 87.2% |
| Margem Operacional | 51.7% | 1.3% | 12.3% | -22.7% | 22.2% | 2.9% | 36.8% | 37.4% | 37.8% | 47.2% |
| Margem EBITDA | 49.0% | 23.8% | 36.4% | 16.8% | 39.1% | 26.8% | 61.4% | 61.2% | 54.9% | 54.1% |
| Margem Líquida | 21.6% | -15.1% | -0.1% | -22.3% | 16.5% | -6.3% | -67.4% | 17.3% | 17.2% | 25.1% |
| Margem FCF | 51.0% | 38.5% | 31.4% | 55.7% | 41.4% | 25.1% | 38.8% | 37.7% | 50.6% | 33.7% |
| Taxa Efetiva de Imposto | 38.2% | 3.1% | 125.5% | 22.9% | -5.8% | -92.9% | -26.1% | 15.8% | 20.4% | 21.2% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $2.64 | $2.92 | $2.62 | $3.17 | $4.40 | $2.11 | $1.58 | $1.30 | $1.68 | $1.32 |
| Dividendo por Ação | $0.78 | $0.80 | $0.80 | $0.80 | $0.37 | $0.20 | $1.89 | $0.19 | $0.19 | $0.19 |
| Ações em Circulação (Básicas) | $49.2M | $49.2M | $48.8M | $49.1M | $82.8M | $104.7M | $104.3M | $106.6M | $108.6M | $109.2M |
O que olhar em empresas de Technology
- Crescimento de receita 3a (≥15%/ano) — Valida tração sustentada, não um ano pontual.
- Margem bruta (Depende do sub-setor) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Receita (≥20%) — Caixa real gerada. Muitas tech maquilham lucros não-GAAP.
- ROIC (≥15%) — Eficiência do capital reinvestido — a primeira métrica de Buffett.
- SBC / Receita (<10% saudável) — Stock-based compensation. Diluição silenciosa: >20% destrói valor.
- Dívida Líquida / EBITDA (≤2x (1,5x SaaS)) — Resistência em recessões e subidas de juros.
Rentabilidade
| Retorno sobre patrimônio | 26.70% |
| Retorno sobre capital investido | 16.80% |
| Retorno sobre ativos | 12.10% |
| Margem bruta | 75.36% |
| Margem operacional | 45.68% |
| Margem líquida | 26.05% |
Saúde financeira
| Dívida / Patrimônio | 0.83 |
| Liquidez corrente | 3.25 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 3.50 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 10.25 | -5.67 | -825.42 | -3.85 | 3.12 | -9.43 | -3.34 | 19.67 | 23.69 | 16.91 |
| P/VP | 1.13 | 0.74 | 0.38 | 0.44 | 0.31 | 0.39 | 3.28 | 3.70 | 3.83 | 3.92 |
| P/V | 2.22 | 0.86 | 0.59 | 0.86 | 0.51 | 0.60 | 2.25 | 3.40 | 4.04 | 4.25 |
| Margem Bruta | 86.6% | 66.4% | 70.0% | 58.9% | 71.6% | 59.7% | 74.0% | 75.5% | 80.6% | 87.2% |
| Margem Operacional | 51.7% | 1.3% | 12.3% | -22.7% | 22.2% | 2.9% | 36.8% | 37.4% | 37.8% | 47.2% |
| Margem Líquida | 21.6% | -15.1% | -0.1% | -22.3% | 16.5% | -6.3% | -67.4% | 17.3% | 17.2% | 25.1% |