Demonstrações financeiras detalhadas de Aviat Networks, Inc. (AVNW): 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
Aviat Networks, Inc. registou receitas de $439.7M no último exercício, com um CAGR de 5 anos de 7.7%. O lucro líquido atingiu $2.5M, com CAGR de 5 anos de -34.6%.
Margens dos últimos 12 meses: margem bruta 31.5%, margem operacional 4.5%, margem líquida 0.6%. O fluxo de caixa livre cresceu a CAGR de -15.9% em 5 anos.
Ao preço atual de $20.18, AVNW negocia a um P/L de 107.54 e um ROE de 0.95%. A capitalização de mercado é de $261M.
Demonstração de Resultados (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Receita | $241.9M | $242.5M | $243.9M | $238.6M | $303.0M | $303.0M | $344.4M | $408.1M | $434.6M | $439.7M |
| Custo da Receita | $166.4M | $162.0M | $164.6M | $153.9M | $193.7M | $193.7M | $222.1M | $263.4M | $295.2M | $301.4M |
| Lucro Bruto | $75.5M | $80.5M | $79.3M | $84.7M | $109.2M | $109.2M | $122.4M | $144.7M | $139.4M | $138.3M |
| P&D | $18.7M | $19.8M | $21.1M | $19.3M | $22.6M | $22.6M | $24.9M | $36.4M | $35.8M | $28.4M |
| Despesas Gerais e Administrativas | $57.2M | $58.2M | $56.1M | $58.0M | $57.7M | $57.7M | $69.8M | $85.0M | $89.5M | $88.5M |
| Despesas Operacionais | $76.5M | $79.2M | $77.9M | $81.3M | $80.5M | $80.5M | $147.0M | $164.1M | $150.0M | $118.7M |
| Lucro Operacional | -$985000 | $1.3M | $1.4M | $3.4M | $28.7M | $28.7M | -$24.6M | -$19.4M | -$10.6M | $19.6M |
| EBITDA | $5.3M | $7.8M | $6.1M | $11.8M | $33.4M | $33.4M | $28.0M | $24.2M | $17.7M | $27.0M |
| Despesas com Juros | $50000 | $29000 | $102000 | $54000 | 0 | 0 | $532000 | $2.3M | $6.1M | $7.7M |
| Lucro Antes de Impostos | -$605000 | $1.3M | $1.6M | $3.7M | $30.4M | $30.4M | $21.3M | $16.9M | $3.6M | $13.2M |
| Imposto | $16000 | -$1.0M | -$8.2M | $3.5M | $9.3M | $9.3M | $11.1M | $6.1M | $2.2M | $10.7M |
| Lucro Líquido | -$823000 | $1.8M | $9.7M | $257000 | $21.2M | $21.2M | $10.2M | $10.8M | $1.3M | $2.5M |
| LPA | $-0.08 | $0.17 | $0.91 | $0.02 | $9.98 | $1.89 | $0.90 | $0.88 | $0.11 | $0.20 |
| LPA Diluído | $-0.08 | $0.16 | $0.87 | $0.02 | $9.42 | $1.79 | $0.86 | $0.86 | $0.10 | $0.19 |
| Ações em Circulação (Diluídas) | $10.6M | $11.3M | $11.2M | $10.9M | $11.8M | $11.8M | $11.9M | $12.5M | $12.8M | $12.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q3 |
|---|
| Receita | $107.3M | $111.5M | $100.0M | $120.9M |
| Lucro Bruto | $35.7M | $36.1M | $29.3M | $37.2M |
| Lucro Operacional | $5.2M | $7.3M | $1.3M | $5.8M |
| EBITDA | $5.4M | $11.7M | $964000 | $9.0M |
| Lucro Líquido | $162000 | $5.7M | -$2.1M | -$1.3M |
| LPA | $0.01 | $0.44 | $-0.16 | $-0.10 |
| LPA Diluído | $0.01 | $0.44 | $-0.16 | $-0.10 |
Balanço (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caixa e Equivalentes | $35.7M | $37.4M | $31.9M | $41.6M | $36.9M | $36.9M | $22.2M | $64.6M | $59.7M | $72.8M |
| Investimentos de Curto Prazo | $264000 | 0 | 0 | 0 | $10.9M | $10.9M | $2000 | 0 | 0 | 0 |
| Contas a Receber | $58.1M | $57.2M | $79.7M | $72.7M | $119.0M | $119.0M | $167.0M | $262.1M | $305.5M | $274.4M |
| Estoque | $23.7M | $22.8M | $9.5M | $15.2M | $27.2M | $27.2M | $33.4M | $62.3M | $84.0M | $69.0M |
| Ativos Circulantes | $124.6M | $123.5M | $126.0M | $139.9M | $206.4M | $206.4M | $235.9M | $405.2M | $463.6M | $439.2M |
| Imobilizado | $16.4M | $17.2M | $17.3M | $20.4M | $11.6M | $11.6M | $12.0M | $13.2M | $20.6M | $20.8M |
| Ágio | 0 | 0 | 0 | 0 | 0 | 0 | $5.1M | $8.2M | $19.7M | $19.4M |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | 0 | $9.0M | $13.6M | $26.9M | $23.6M |
| Ativos Totais | $152.6M | $156.1M | $169.2M | $179.8M | $323.9M | $323.9M | $363.1M | $535.2M | $633.3M | $599.0M |
| Contas a Pagar | $33.6M | $30.9M | $35.6M | $32.0M | $42.4M | $42.4M | $60.1M | $92.9M | $148.1M | $119.5M |
| Dívida de Curto Prazo | $9.0M | $9.0M | $9.0M | $9.0M | 0 | 0 | 0 | $2.4M | $18.6M | $7.9M |
| Passivos Circulantes | $86.0M | $86.5M | $82.2M | $94.0M | $104.5M | $104.5M | $130.1M | $218.9M | $282.2M | $223.2M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $46.0M | $69.0M | $89.1M |
| Passivos Totais | $98.2M | $98.5M | $97.7M | $111.1M | $122.2M | $122.2M | $144.4M | $279.3M | $370.1M | $331.6M |
| Reservas | -$748.2M | -$746.4M | -$731.0M | -$730.7M | -$599.4M | -$599.4M | -$589.3M | -$578.5M | -$577.2M | -$574.6M |
| Patrimônio Líquido | $53.8M | $57.5M | $71.5M | $68.7M | $201.8M | $201.8M | $218.7M | $255.9M | $263.2M | $267.4M |
| Dívida Total | $9.0M | $9.0M | $9.0M | $12.7M | $2.9M | $2.9M | $2.8M | $52.2M | $90.9M | $99.2M |
| Dívida Líquida | -$26.9M | -$28.4M | -$22.9M | -$28.9M | -$44.8M | -$44.8M | -$19.5M | -$12.4M | $31.2M | $26.3M |
| Capital de Giro | $38.6M | $37.0M | $43.8M | $46.0M | $101.9M | $101.9M | $105.9M | $186.4M | $181.4M | $216.1M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q3 |
|---|
| Caixa e Equivalentes | $64.8M | $86.5M | $78.1M | $72.8M |
| Ativos Totais | $643.3M | $659.4M | $616.5M | $599.0M |
| Passivos Totais | $379.7M | $387.7M | $344.8M | $331.6M |
| Patrimônio Líquido | $263.6M | $271.6M | $271.8M | $267.4M |
| Dívida Total | $109.4M | $108.4M | $106.7M | $99.2M |
Fluxo de Caixa (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Lucro Líquido | -$621000 | $2.3M | $9.7M | $257000 | $110.1M | $21.2M | $10.2M | $10.8M | $1.3M | $2.5M |
| Depreciação e Amortização | $5.8M | $5.2M | $4.5M | $4.4M | $5.0M | $4.5M | $6.2M | $5.0M | $8.0M | $6.1M |
| Compensação em Ações | $2.1M | $2.4M | $1.7M | $1.7M | 0 | $3.8M | $6.7M | $7.3M | $7.1M | $6.2M |
| Variação Capital de Giro | $1.6M | $1.1M | -$4.4M | $5.9M | -$11.8M | -$34.8M | -$38.8M | -$2.5M | -$16.8M | -$11.9M |
| Fluxo de Caixa Operacional | $9.4M | $8.2M | $2.9M | $17.5M | $17.3M | $2.8M | -$1.6M | $30.5M | $5.7M | $13.6M |
| CapEx | -$4.0M | -$6.6M | -$5.2M | -$4.6M | -$2.8M | -$1.8M | -$5.3M | -$2.7M | -$13.0M | -$7.5M |
| Aquisições | $4.0M | 0 | 0 | 0 | 0 | 0 | -$15.8M | -$32.2M | -$18.1M | 0 |
| Recompra de Ações | 0 | -$8000 | -$2.3M | -$1.8M | -$954000 | -$5.4M | 0 | -$332000 | -$597000 | -$2.7M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $5.4M | $1.6M | -$2.3M | $12.9M | $14.5M | $997000 | -$7.0M | $27.9M | -$7.2M | $6.1M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q3 |
|---|
| Fluxo de Caixa Operacional | -$11.7M | $23.9M | -$1.7M | $3.1M |
| CapEx | -$1.7M | -$1.4M | -$3.7M | -$615000 |
| Fluxo de Caixa Livre | -$13.5M | $22.5M | -$5.4M | $2.5M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $1.6M | $1.3M | $1.6M | $1.7M |
Crescimento e Margens (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crescimento Receita (anual) | | +0.3% | +0.6% | -2.1% | +27.0% | +0.0% | +13.7% | +18.5% | +6.5% | +1.2% |
| Crescimento Lucro Líquido (anual) | | +324.2% | +427.8% | -97.4% | +8133.5% | +0.0% | -51.9% | +5.8% | -87.5% | +89.3% |
| Crescimento LPA (anual) | | +312.5% | +435.3% | -97.4% | +41832.8% | -81.1% | -52.4% | -2.2% | -87.5% | +81.8% |
| Variação de Ações (anual) | | +6.7% | -0.5% | -2.7% | +8.1% | +0.0% | +0.3% | +5.1% | +3.0% | +0.7% |
| Crescimento FCF (anual) | | -69.4% | -239.9% | +659.7% | +12.2% | -93.1% | -800.0% | +499.3% | -126.0% | +184.0% |
| Margem Bruta | 31.2% | 33.2% | 32.5% | 35.5% | 36.1% | 36.1% | 35.5% | 35.5% | 32.1% | 31.5% |
| Margem Operacional | -0.4% | 0.5% | 0.6% | 1.4% | 9.5% | 9.5% | -7.1% | -4.8% | -2.4% | 4.5% |
| Margem EBITDA | 2.2% | 3.2% | 2.5% | 5.0% | 11.0% | 11.0% | 8.1% | 5.9% | 4.1% | 6.1% |
| Margem Líquida | -0.3% | 0.8% | 4.0% | 0.1% | 7.0% | 7.0% | 3.0% | 2.6% | 0.3% | 0.6% |
| Margem FCF | 2.2% | 0.7% | -0.9% | 5.4% | 4.8% | 0.3% | -2.0% | 6.8% | -1.7% | 1.4% |
| Taxa Efetiva de Imposto | -2.6% | -81.8% | -528.3% | 93.1% | 30.5% | 30.5% | 52.3% | 36.4% | 62.5% | 80.8% |
Dados por Ação (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Ação | $0.51 | $0.15 | $-0.20 | $1.18 | $1.22 | $0.08 | $-0.59 | $2.24 | $-0.57 | $0.47 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $10.3M | $11.2M | $10.8M | $10.8M | $11.2M | $11.2M | $11.4M | $12.2M | $12.7M | $12.9M |
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 | 0.95% |
| Retorno sobre capital investido | 0.98% |
| Retorno sobre ativos | 0.42% |
| Margem bruta | 31.45% |
| Margem operacional | 4.45% |
| Margem líquida | 0.58% |
Saúde financeira
| Dívida / Patrimônio | 0.37 |
| Liquidez corrente | 1.97 |
Índices Chave (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/L | -108.75 | 48.18 | 7.53 | 390.76 | 3.19 | 13.28 | 37.08 | 32.60 | 217.64 | 105.85 |
| P/VP | 1.66 | 1.59 | 1.03 | 1.46 | 1.76 | 1.39 | 1.73 | 1.37 | 1.15 | 1.02 |
| P/V | 0.37 | 0.38 | 0.30 | 0.42 | 1.18 | 0.92 | 1.10 | 0.86 | 0.70 | 0.62 |
| Margem Bruta | 31.2% | 33.2% | 32.5% | 35.5% | 36.1% | 36.1% | 35.5% | 35.5% | 32.1% | 31.5% |
| Margem Operacional | -0.4% | 0.5% | 0.6% | 1.4% | 9.5% | 9.5% | -7.1% | -4.8% | -2.4% | 4.5% |
| Margem Líquida | -0.3% | 0.8% | 4.0% | 0.1% | 7.0% | 7.0% | 3.0% | 2.6% | 0.3% | 0.6% |