Demonstrações financeiras detalhadas de A. O. Smith Corporation (AOS): 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
A. O. Smith Corporation registou receitas de $3.83B no último exercício, com um CAGR de 5 anos de 5.8%. O lucro líquido atingiu $546.2M, com CAGR de 5 anos de 9.6%.
Margens dos últimos 12 meses: margem bruta 38.6%, margem operacional 17.6%, margem líquida 13.1%. O fluxo de caixa livre cresceu a CAGR de 1.6% em 5 anos.
Ao preço atual de $57.39, AOS negocia a um P/L de 15.77 e um ROE de 26.96%. A capitalização de mercado é de $8.0B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $2.69B | $3.00B | $3.19B | $2.99B | $2.90B | $3.54B | $3.75B | $3.85B | $3.82B | $3.83B |
| Custo da Receita | $1.57B | $1.76B | $1.88B | $1.81B | $1.79B | $2.23B | $2.42B | $2.37B | $2.36B | $2.34B |
| Lucro Bruto | $1.12B | $1.24B | $1.31B | $1.18B | $1.11B | $1.31B | $1.33B | $1.48B | $1.46B | $1.49B |
| P&D | $80.1M | $86.4M | $94.0M | $87.9M | $80.7M | $94.2M | $89.0M | $97.5M | $101.7M | 0 |
| Despesas Gerais e Administrativas | $658.9M | $722.8M | $753.8M | $715.6M | $660.3M | $701.4M | $670.9M | $727.4M | $757.4M | $759.4M |
| Despesas Operacionais | $658.9M | $718.2M | $753.8M | $715.6M | $660.3M | $701.4M | $670.9M | $727.4M | $739.3M | $759.4M |
| Lucro Operacional | $460.4M | $520.5M | $551.7M | $466.8M | $446.2M | $609.5M | $658.7M | $757.4M | $716.8M | $728.0M |
| EBITDA | $534.9M | $601.0M | $638.1M | $561.4M | $531.2M | $707.8M | $310.0M | $823.8M | $786.5M | $792.2M |
| Despesas com Juros | $7.3M | $10.1M | $8.4M | $11.0M | $7.3M | $4.3M | $9.4M | $12.0M | $6.7M | $13.5M |
| Lucro Antes de Impostos | $462.5M | $520.8M | $557.8M | $472.1M | $443.9M | $625.6M | $223.7M | $733.5M | $701.0M | $715.1M |
| Imposto | $136.0M | $224.3M | $113.6M | $102.1M | $99.0M | $138.5M | -$12.0M | $176.9M | $167.4M | $168.9M |
| Lucro Líquido | $326.5M | $296.5M | $444.2M | $370.0M | $344.9M | $487.1M | $235.7M | $556.6M | $533.6M | $546.2M |
| LPA | $1.87 | $1.72 | $2.60 | $2.24 | $2.14 | $3.05 | $1.52 | $3.71 | $3.65 | $3.86 |
| LPA Diluído | $1.85 | $1.70 | $2.58 | $2.22 | $2.12 | $3.02 | $1.51 | $3.69 | $3.63 | $3.86 |
| Ações em Circulação (Diluídas) | $176.8M | $174.6M | $172.2M | $166.7M | $162.6M | $161.3M | $155.8M | $151.0M | $147.1M | $139.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $942.5M | $912.5M | $945.6M | $1.00B |
| Lucro Bruto | $364.5M | $350.4M | $365.7M | $387.8M |
| Lucro Operacional | $175.6M | $163.8M | $161.8M | $167.5M |
| EBITDA | $197.0M | $185.3M | $185.7M | $166.1M |
| Lucro Líquido | $132.0M | $125.4M | $118.0M | $124.9M |
| LPA | $0.94 | $0.90 | $0.85 | $0.90 |
| LPA Diluído | $0.94 | $0.90 | $0.85 | $0.90 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $330.4M | $346.6M | $259.7M | $374.0M | $573.1M | $443.3M | $391.2M | $339.9M | $239.6M | $174.5M |
| Investimentos de Curto Prazo | $424.2M | $473.4M | $385.3M | $177.4M | $116.5M | $188.1M | $90.6M | $23.5M | $36.5M | $18.7M |
| Contas a Receber | $518.7M | $598.4M | $647.3M | $589.5M | $585.0M | $634.4M | $581.2M | $596.0M | $541.4M | $582.3M |
| Estoque | $251.1M | $291.2M | $304.7M | $303.0M | $300.1M | $447.7M | $516.4M | $497.4M | $532.1M | $479.3M |
| Ativos Circulantes | $1.56B | $1.77B | $1.64B | $1.50B | $1.62B | $1.75B | $1.63B | $1.50B | $1.39B | $1.29B |
| Imobilizado | $461.9M | $528.9M | $540.0M | $592.3M | $582.9M | $639.2M | $620.5M | $634.8M | $661.5M | $681.4M |
| Ágio | $491.5M | $516.7M | $513.0M | $546.0M | $546.8M | $627.8M | $619.7M | $633.4M | $761.7M | $710.6M |
| Ativos Intangíveis | $308.3M | $308.7M | $293.1M | $338.4M | $323.9M | $364.8M | $347.9M | $336.7M | $321.1M | $362.3M |
| Ativos Totais | $2.89B | $3.20B | $3.07B | $3.06B | $3.16B | $3.47B | $3.33B | $3.21B | $3.24B | $3.14B |
| Contas a Pagar | $528.6M | $535.0M | $543.8M | $509.6M | $595.2M | $745.9M | $625.8M | $600.4M | $588.7M | $504.1M |
| Dívida de Curto Prazo | $7.2M | $7.5M | 0 | $6.8M | $6.8M | $6.8M | $10.0M | $10.0M | $10.0M | $42.3M |
| Passivos Circulantes | $765.6M | $788.5M | $785.3M | $766.5M | $886.3M | $1.12B | $934.2M | $945.3M | $897.2M | $862.5M |
| Dívida de Longo Prazo | $316.4M | $402.9M | $221.4M | $277.2M | $106.4M | $189.9M | $334.5M | $117.3M | $183.2M | $112.7M |
| Passivos Totais | $1.38B | $1.55B | $1.35B | $1.39B | $1.31B | $1.64B | $1.58B | $1.37B | $1.36B | $1.28B |
| Reservas | $1.59B | $1.79B | $2.10B | $2.32B | $2.51B | $2.83B | $2.88B | $3.26B | $3.60B | $3.95B |
| Patrimônio Líquido | $1.52B | $1.65B | $1.72B | $1.67B | $1.85B | $1.83B | $1.75B | $1.84B | $1.88B | $1.86B |
| Dívida Total | $323.6M | $410.4M | $221.4M | $322.7M | $147.6M | $219.0M | $366.9M | $155.2M | $216.7M | $192.1M |
| Dívida Líquida | -$431.0M | -$409.6M | -$423.6M | -$228.7M | -$542.0M | -$412.4M | -$114.9M | -$208.2M | -$59.4M | -$1.1M |
| Capital de Giro | $796.4M | $978.3M | $853.2M | $733.9M | $731.7M | $633.8M | $699.5M | $555.0M | $495.7M | $429.0M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $152.7M | $174.5M | $185.2M | $181.3M |
| Ativos Totais | $3.17B | $3.14B | $3.65B | $3.64B |
| Passivos Totais | $1.33B | $1.28B | $1.77B | $1.80B |
| Patrimônio Líquido | $1.84B | $1.86B | $1.88B | $1.84B |
| Dívida Total | $221.4M | $192.1M | $656.5M | $676.7M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $326.5M | $296.5M | $444.2M | $370.0M | $344.9M | $487.1M | $235.7M | $556.6M | $533.6M | $546.2M |
| Depreciação e Amortização | $65.1M | $70.1M | $71.9M | $78.3M | $80.0M | $77.9M | $76.9M | $78.3M | $78.8M | $85.1M |
| Compensação em Ações | $9.4M | $9.9M | $10.1M | $13.3M | $12.7M | $11.9M | $11.1M | $11.5M | $14.9M | $13.8M |
| Variação Capital de Giro | $46.8M | -$50.1M | -$77.3M | -$5.4M | $124.5M | $64.2M | -$181.9M | $12.8M | -$45.6M | -$37.2M |
| Fluxo de Caixa Operacional | $446.6M | $326.4M | $448.9M | $456.2M | $562.1M | $641.1M | $391.4M | $670.3M | $581.8M | $616.8M |
| CapEx | -$80.7M | -$94.2M | -$85.2M | -$64.4M | -$56.8M | -$75.1M | -$70.3M | -$72.6M | -$108.0M | -$70.8M |
| Aquisições | -$90.8M | -$43.1M | $85.2M | -$107.0M | $56.8M | -$207.6M | -$8.0M | -$16.8M | -$145.9M | 0 |
| Recompra de Ações | -$135.2M | -$139.1M | -$202.6M | -$287.7M | -$56.7M | -$366.5M | -$403.5M | -$306.5M | -$305.8M | -$400.8M |
| Dividendos Pagos | -$84.2M | -$96.9M | -$130.1M | -$149.2M | -$158.7M | -$170.1M | -$177.2M | -$183.5M | -$190.4M | -$195.7M |
| Fluxo de Caixa Livre | $365.9M | $232.2M | $363.7M | $391.8M | $505.3M | $566.0M | $321.1M | $597.7M | $473.8M | $546.0M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $255.4M | $183.1M | $129.4M | $124.4M |
| CapEx | -$14.8M | -$17.6M | -$10.5M | -$10.0M |
| Fluxo de Caixa Livre | $240.6M | $165.5M | $118.9M | $114.4M |
| Dividendos Pagos | -$47.6M | -$50.6M | -$50.2M | -$49.6M |
| Compensação em Ações | $2.7M | $2.5M | $6.6M | $2.7M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +11.6% | +6.4% | -6.1% | -3.3% | +22.2% | +6.1% | +2.6% | -0.9% | +0.3% |
| Crescimento Lucro Líquido (anual) | | -9.2% | +49.8% | -16.7% | -6.8% | +41.2% | -51.6% | +136.1% | -4.1% | +2.4% |
| Crescimento LPA (anual) | | -8.0% | +51.2% | -13.8% | -4.5% | +42.5% | -50.2% | +144.1% | -1.6% | +5.8% |
| Variação de Ações (anual) | | -1.3% | -1.4% | -3.2% | -2.5% | -0.8% | -3.4% | -3.1% | -2.6% | -4.9% |
| Crescimento FCF (anual) | | -36.5% | +56.6% | +7.7% | +29.0% | +12.0% | -43.3% | +86.1% | -20.7% | +15.2% |
| Margem Bruta | 41.7% | 41.3% | 41.0% | 39.5% | 38.3% | 37.0% | 35.4% | 38.5% | 38.1% | 38.8% |
| Margem Operacional | 17.1% | 17.4% | 17.3% | 15.6% | 15.4% | 17.2% | 17.5% | 19.7% | 18.8% | 19.0% |
| Margem EBITDA | 19.9% | 20.1% | 20.0% | 18.8% | 18.3% | 20.0% | 8.3% | 21.4% | 20.6% | 20.7% |
| Margem Líquida | 12.2% | 9.9% | 13.9% | 12.4% | 11.9% | 13.8% | 6.3% | 14.4% | 14.0% | 14.3% |
| Margem FCF | 13.6% | 7.7% | 11.4% | 13.1% | 17.5% | 16.0% | 8.6% | 15.5% | 12.4% | 14.3% |
| Taxa Efetiva de Imposto | 29.4% | 43.1% | 20.4% | 21.6% | 22.3% | 22.1% | -5.4% | 24.1% | 23.9% | 23.6% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $2.07 | $1.33 | $2.11 | $2.35 | $3.11 | $3.51 | $2.06 | $3.96 | $3.22 | $3.90 |
| Dividendo por Ação | $0.48 | $0.55 | $0.76 | $0.89 | $0.98 | $1.05 | $1.14 | $1.22 | $1.29 | $1.40 |
| Ações em Circulação (Básicas) | $173.4M | $171.7M | $168.2M | $165.5M | $161.5M | $159.9M | $154.8M | $150.0M | $147.0M | $139.9M |
O que olhar em Industriais
Aeroespacial, defesa, maquinaria, transporte. Semi-cíclicos. Chave: backlog, margens operacionais e conversão de FCF.
- Crescimento receita 5 anos — Sem crescimento, não há criação de valor a longo prazo
- Margem operacional — O melhor indicador de disciplina operacional em industriais
- ROIC — Industriais de qualidade têm ROIC >15% — os outros destroem capital
- Conversão FCF — FCF / Net Income — em industriais bom >85%
- Dívida líquida / EBITDA — Industriais cíclicos com dívida alta sofrem muito em recessão
- Capex / Receita — Manter a maquinaria. <4% = possível subinvestimento (deterioração futura)
- Altman Z-Score — Modelo de falência (NYU 1968) — combina liquidez, alavancagem e rentabilidade. Chave em cíclicas
Rentabilidade
| Retorno sobre patrimônio | 26.96% |
| Retorno sobre capital investido | 18.44% |
| Retorno sobre ativos | 13.73% |
| Margem bruta | 38.59% |
| Margem operacional | 17.57% |
| Margem líquida | 13.15% |
Saúde financeira
| Dívida / Patrimônio | 0.37 |
| Liquidez corrente | 1.59 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 25.32 | 35.63 | 16.42 | 21.27 | 25.62 | 28.15 | 37.66 | 22.22 | 18.69 | 17.33 |
| P/VP | 5.42 | 6.38 | 4.18 | 4.73 | 4.79 | 7.49 | 5.07 | 6.70 | 5.32 | 5.04 |
| P/V | 3.06 | 3.51 | 2.25 | 2.63 | 3.06 | 3.88 | 2.36 | 3.21 | 2.63 | 2.44 |
| Margem Bruta | 41.7% | 41.3% | 41.0% | 39.5% | 38.3% | 37.0% | 35.4% | 38.5% | 38.1% | 38.8% |
| Margem Operacional | 17.1% | 17.4% | 17.3% | 15.6% | 15.4% | 17.2% | 17.5% | 19.7% | 18.8% | 19.0% |
| Margem Líquida | 12.2% | 9.9% | 13.9% | 12.4% | 11.9% | 13.8% | 6.3% | 14.4% | 14.0% | 14.3% |