Demonstrações financeiras detalhadas de Calix, Inc. (CALX): 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
Calix, Inc. registou receitas de $1.00B no último exercício, com um CAGR de 5 anos de 13.1%. O lucro líquido atingiu $17.9M, com CAGR de 5 anos de -11.8%.
Margens dos últimos 12 meses: margem bruta 56.6%, margem operacional 5.5%, margem líquida 4.6%. O fluxo de caixa livre cresceu a CAGR de 21.5% em 5 anos.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $458.8M | $510.4M | $441.3M | $424.3M | $541.2M | $679.4M | $867.8M | $1.04B | $831.5M | $1.00B |
| Custo da Receita | $257.6M | $337.5M | $243.9M | $236.4M | $274.2M | $322.8M | $432.4M | $521.3M | $377.9M | $431.7M |
| Lucro Bruto | $201.2M | $172.9M | $197.4M | $187.9M | $267.0M | $356.6M | $435.4M | $518.3M | $453.6M | $568.3M |
| P&D | $106.9M | $127.5M | $90.0M | $81.2M | $85.3M | $101.7M | $132.0M | $177.8M | $179.9M | $190.4M |
| Despesas Gerais e Administrativas | $125.3M | $122.7M | $126.9M | $119.7M | $138.6M | $181.7M | $250.8M | $315.0M | $316.8M | $357.0M |
| Despesas Operacionais | $229.3M | $254.4M | $215.9M | $203.3M | $230.2M | $282.6M | $382.8M | $492.7M | $496.6M | $547.3M |
| Lucro Operacional | -$28.1M | -$81.6M | -$18.5M | -$15.4M | $36.8M | $73.9M | $52.6M | $25.6M | -$43.0M | $21.0M |
| EBITDA | -$18.5M | -$66.3M | -$8.9M | -$5.3M | $49.6M | $88.1M | $68.4M | $51.4M | -$12.1M | $51.9M |
| Despesas com Juros | $585000 | $160000 | $632000 | $958000 | $1.6M | $402000 | 0 | 0 | 0 | 0 |
| Lucro Antes de Impostos | -$27.1M | -$81.8M | -$18.8M | -$16.5M | $34.3M | $72.7M | $54.0M | $34.8M | -$31.6M | $34.2M |
| Imposto | $347000 | $1.2M | $530000 | $1.2M | $800000 | -$165.7M | $13.0M | $5.4M | -$1.9M | $16.3M |
| Lucro Líquido | -$27.4M | -$83.0M | -$19.3M | -$17.7M | $33.5M | $238.4M | $41.0M | $29.3M | -$29.7M | $17.9M |
| LPA | $-0.56 | $-1.66 | $-0.37 | $-0.32 | $0.57 | $3.77 | $0.63 | $0.44 | $-0.45 | $0.27 |
| LPA Diluído | $-0.56 | $-1.66 | $-0.37 | $-0.32 | $0.54 | $3.51 | $0.60 | $0.42 | $-0.45 | $0.26 |
| Ações em Circulação (Diluídas) | $48.7M | $50.2M | $52.6M | $55.0M | $62.0M | $67.9M | $68.9M | $69.3M | $65.9M | $70.4M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $265.4M | $272.4M | $280.0M | $293.3M |
| Lucro Bruto | $152.0M | $157.3M | $159.3M | $160.1M |
| Lucro Operacional | $17.4M | $9.3M | $12.7M | $21.8M |
| EBITDA | $25.0M | $17.8M | $19.6M | $26.3M |
| Lucro Líquido | $15.7M | $7.2M | $11.2M | $17.1M |
| LPA | $0.24 | $0.11 | $0.17 | $0.27 |
| LPA Diluído | $0.24 | $0.10 | $0.17 | $0.26 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $50.4M | $39.8M | $49.6M | $46.8M | $80.8M | $51.3M | $79.1M | $63.4M | $43.2M | $143.1M |
| Investimentos de Curto Prazo | $27.7M | 0 | 0 | 0 | $53.0M | $153.0M | $162.6M | $156.9M | $253.9M | $245.0M |
| Contas a Receber | $51.3M | $80.4M | $67.0M | $46.5M | $69.4M | $85.2M | $93.8M | $126.0M | $79.3M | $99.4M |
| Estoque | $44.5M | $31.5M | $50.2M | $40.2M | $52.3M | $88.9M | $149.2M | $133.0M | $102.7M | $133.7M |
| Ativos Circulantes | $219.3M | $162.5M | $174.8M | $143.8M | $266.9M | $409.2M | $547.4M | $598.0M | $584.7M | $691.6M |
| Imobilizado | $18.0M | $15.7M | $24.9M | $37.4M | $32.1M | $34.0M | $35.1M | $38.7M | $37.4M | $52.5M |
| Ágio | $116.2M | $116.2M | $116.2M | $116.2M | $116.2M | $116.2M | $116.2M | $116.2M | $116.2M | $116.2M |
| Ativos Intangíveis | $813000 | 0 | 0 | $12.1M | $9.5M | $6.9M | 0 | 0 | 0 | 0 |
| Ativos Totais | $355.5M | $295.1M | $317.1M | $316.8M | $427.4M | $742.0M | $884.8M | $941.9M | $939.3M | $1.06B |
| Contas a Pagar | $23.8M | $36.0M | $40.2M | $10.8M | $13.1M | $29.1M | $41.4M | $34.7M | $20.2M | $41.5M |
| Dívida de Curto Prazo | 0 | $30.0M | $30.0M | $30.0M | $2.9M | $4.7M | $11.2M | 0 | 0 | 0 |
| Passivos Circulantes | $121.4M | $128.3M | $143.7M | $115.5M | $101.0M | $128.1M | $165.4M | $187.6M | $131.1M | $163.2M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $12.8M |
| Passivos Totais | $142.5M | $150.1M | $165.1M | $162.8M | $147.0M | $173.6M | $205.3M | $222.9M | $158.3M | $199.3M |
| Reservas | -$584.3M | -$667.4M | -$684.9M | -$702.6M | -$669.1M | -$430.7M | -$389.7M | -$360.4M | -$390.1M | -$372.2M |
| Patrimônio Líquido | $213.0M | $145.0M | $151.9M | $154.0M | $280.3M | $568.4M | $679.6M | $719.0M | $780.9M | $859.2M |
| Dívida Total | 0 | $30.0M | $30.0M | $47.0M | $18.9M | $20.7M | $19.6M | $11.6M | $8.0M | $25.5M |
| Dívida Líquida | -$78.1M | -$9.8M | -$19.6M | $171000 | -$114.9M | -$183.6M | -$222.1M | -$208.8M | -$289.1M | -$362.6M |
| Capital de Giro | $97.9M | $34.1M | $31.1M | $28.3M | $165.8M | $281.1M | $381.9M | $410.3M | $453.6M | $528.3M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $95.0M | $143.1M | $54.6M | $68.9M |
| Ativos Totais | $976.4M | $1.06B | $951.4M | $954.4M |
| Passivos Totais | $153.9M | $199.3M | $213.4M | $244.4M |
| Patrimônio Líquido | $822.5M | $859.2M | $738.0M | $710.0M |
| Dívida Total | $11.3M | $25.5M | $14.7M | $14.0M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$27.4M | -$83.0M | -$19.3M | -$17.7M | $33.5M | $238.4M | $41.0M | $29.3M | -$29.7M | $17.9M |
| Depreciação e Amortização | $14.1M | $11.0M | $9.2M | $10.3M | $13.7M | $15.0M | $14.3M | $16.6M | $19.6M | $17.7M |
| Compensação em Ações | $14.3M | $12.4M | $17.5M | $11.2M | $14.0M | $24.2M | $44.8M | $62.8M | $70.8M | $87.9M |
| Variação Capital de Giro | $23.0M | -$3.4M | $2.6M | -$1.8M | -$13.7M | -$52.4M | -$73.8M | -$47.6M | $23.1M | $3.3M |
| Fluxo de Caixa Operacional | $24.4M | -$62.8M | $3.6M | $4.7M | $51.4M | $56.8M | $27.2M | $56.3M | $68.4M | $135.0M |
| CapEx | -$9.8M | -$8.0M | -$10.4M | -$13.4M | -$7.8M | -$10.5M | -$14.1M | -$17.9M | -$18.1M | -$19.4M |
| Aquisições | 0 | 0 | $10.3M | 0 | $53.0M | 0 | 0 | 0 | 0 | 0 |
| Recompra de Ações | -$12.8M | -$2.8M | -$74000 | 0 | 0 | 0 | 0 | -$86.4M | -$10.7M | -$93.6M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $14.6M | -$70.8M | -$6.9M | -$8.7M | $43.6M | $46.3M | $13.1M | $38.4M | $50.3M | $115.5M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $32.3M | $46.0M | $14.6M | $16.5M |
| CapEx | -$5.6M | -$5.8M | -$8.1M | -$4.6M |
| Fluxo de Caixa Livre | $26.7M | $40.3M | $6.5M | $11.9M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $20.6M | $22.0M | $20.6M | $16.7M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +11.2% | -13.5% | -3.8% | +27.6% | +25.5% | +27.7% | +19.8% | -20.0% | +20.3% |
| Crescimento Lucro Líquido (anual) | | -203.0% | +76.8% | +8.3% | +289.2% | +611.9% | -82.8% | -28.5% | -201.4% | +160.1% |
| Crescimento LPA (anual) | | -196.4% | +77.7% | +13.5% | +278.1% | +561.4% | -83.3% | -30.2% | -202.3% | +160.0% |
| Variação de Ações (anual) | | +2.9% | +4.9% | +4.5% | +12.7% | +9.4% | +1.6% | +0.6% | -5.0% | +6.9% |
| Crescimento FCF (anual) | | -585.6% | +90.3% | -26.7% | +601.1% | +6.3% | -71.7% | +192.7% | +31.1% | +129.4% |
| Margem Bruta | 43.9% | 33.9% | 44.7% | 44.3% | 49.3% | 52.5% | 50.2% | 49.9% | 54.6% | 56.8% |
| Margem Operacional | -6.1% | -16.0% | -4.2% | -3.6% | 6.8% | 10.9% | 6.1% | 2.5% | -5.2% | 2.1% |
| Margem EBITDA | -4.0% | -13.0% | -2.0% | -1.2% | 9.2% | 13.0% | 7.9% | 4.9% | -1.5% | 5.2% |
| Margem Líquida | -6.0% | -16.3% | -4.4% | -4.2% | 6.2% | 35.1% | 4.7% | 2.8% | -3.6% | 1.8% |
| Margem FCF | 3.2% | -13.9% | -1.6% | -2.1% | 8.1% | 6.8% | 1.5% | 3.7% | 6.1% | 11.6% |
| Taxa Efetiva de Imposto | -1.3% | -1.5% | -2.8% | -7.0% | 2.3% | -228.1% | 24.1% | 15.6% | 6.0% | 47.7% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.30 | $-1.41 | $-0.13 | $-0.16 | $0.70 | $0.68 | $0.19 | $0.55 | $0.76 | $1.64 |
| 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) | $48.7M | $50.2M | $52.2M | $55.0M | $59.1M | $63.3M | $65.1M | $66.0M | $65.9M | $66.8M |
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
| Margem bruta | 56.58% |
| Margem operacional | 5.51% |
| Margem líquida | 4.61% |
Saúde financeira
| Dívida / Patrimônio | 0.02 |
| Liquidez corrente | 2.83 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -13.75 | -3.58 | -26.35 | -25.00 | 52.21 | 21.21 | 108.62 | 99.30 | -77.49 | 196.04 |
| P/VP | 1.76 | 2.06 | 3.35 | 2.86 | 6.27 | 8.90 | 6.55 | 4.01 | 2.94 | 4.12 |
| P/V | 0.82 | 0.58 | 1.15 | 1.04 | 3.25 | 7.45 | 5.13 | 2.77 | 2.76 | 3.54 |
| Margem Bruta | 43.9% | 33.9% | 44.7% | 44.3% | 49.3% | 52.5% | 50.2% | 49.9% | 54.6% | 56.8% |
| Margem Operacional | -6.1% | -16.0% | -4.2% | -3.6% | 6.8% | 10.9% | 6.1% | 2.5% | -5.2% | 2.1% |
| Margem Líquida | -6.0% | -16.3% | -4.4% | -4.2% | 6.2% | 35.1% | 4.7% | 2.8% | -3.6% | 1.8% |