Demonstrações financeiras detalhadas de Camtek Ltd. (CAMT): 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
Camtek Ltd. registou receitas de $496.1M no último exercício, com um CAGR de 5 anos de 26.1%. O lucro líquido atingiu $50.7M, com CAGR de 5 anos de 18.4%.
Margens dos últimos 12 meses: margem bruta 50.1%, margem operacional 23.2%, margem líquida 7.4%. O fluxo de caixa livre cresceu a CAGR de 40.4% em 5 anos.
Ao preço atual de $138.59, CAMT negocia a um P/L de 155.97 e um ROE de 5.82%. A capitalização de mercado é de $6.5B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $109.5M | $93.5M | $123.2M | $134.0M | $155.9M | $269.7M | $320.9M | $315.4M | $429.2M | $496.1M |
| Custo da Receita | $60.6M | $48.0M | $62.4M | $69.2M | $82.6M | $132.3M | $161.1M | $167.7M | $219.3M | $245.8M |
| Lucro Bruto | $48.9M | $45.5M | $60.8M | $64.8M | $73.2M | $137.3M | $159.9M | $147.6M | $210.0M | $250.3M |
| P&D | $15.9M | $13.5M | $14.6M | $16.3M | $19.6M | $23.5M | $28.9M | $31.5M | $38.3M | $48.3M |
| Despesas Gerais e Administrativas | $25.5M | $22.0M | $26.2M | $26.5M | $31.0M | $43.0M | $49.5M | $50.8M | $63.6M | $73.8M |
| Despesas Operacionais | $41.4M | $48.6M | $40.8M | $42.8M | $50.6M | $66.4M | $78.4M | $82.2M | $101.9M | $122.1M |
| Lucro Operacional | $6.6M | -$3.0M | $20.0M | $22.0M | $22.6M | $70.9M | $81.5M | $65.4M | $108.1M | $128.2M |
| EBITDA | $4.9M | -$1.1M | $22.0M | $24.1M | $25.8M | $75.2M | $93.4M | $94.5M | $143.0M | $64.1M |
| Despesas com Juros | $994000 | $13000 | 0 | 0 | $155000 | $436000 | $1.1M | $1.8M | $1.1M | 0 |
| Lucro Antes de Impostos | $5.6M | -$3.2M | $20.8M | $22.8M | $23.4M | $71.9M | $88.2M | $87.6M | $131.2M | $52.3M |
| Imposto | $888000 | -$4.9M | $2.0M | $1.9M | $1.6M | $11.7M | $8.2M | $9.0M | $12.7M | $1.6M |
| Lucro Líquido | $4.7M | $14.0M | $18.7M | $22.0M | $21.8M | $60.3M | $79.9M | $78.6M | $118.5M | $50.7M |
| LPA | $0.13 | $0.40 | $0.52 | $0.55 | $0.55 | $1.38 | $1.81 | $1.76 | $2.62 | $1.11 |
| LPA Diluído | $0.13 | $0.39 | $0.51 | $0.54 | $0.54 | $1.34 | $1.66 | $1.61 | $2.42 | $1.04 |
| Ações em Circulação (Diluídas) | $35.4M | $36.0M | $36.7M | $38.4M | $40.4M | $45.0M | $48.2M | $48.9M | $49.4M | $50.0M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $126.0M | $128.1M | $121.7M | $133.2M |
| Lucro Bruto | $63.0M | $64.1M | $60.9M | $66.7M |
| Lucro Operacional | $31.8M | $31.7M | $27.3M | $27.2M |
| EBITDA | -$62.6M | $26.7M | $35.4M | $30.2M |
| Lucro Líquido | -$53.2M | $35.9M | $31.6M | $23.3M |
| LPA | $-1.16 | $0.78 | $0.68 | $0.50 |
| LPA Diluído | $-1.16 | $0.71 | $0.61 | $0.45 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $19.7M | $43.7M | $54.9M | $38.0M | $105.8M | $241.9M | $148.2M | $120.0M | $126.2M | $177.8M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | $51.5M | $72.0M | $156.0M | $251.5M | $234.1M | $261.8M | $490.3M |
| Contas a Receber | $23.8M | $23.8M | $33.1M | $33.7M | $43.5M | $60.9M | $87.2M | $99.4M | $114.2M | $90.8M |
| Estoque | $25.4M | $21.3M | $30.1M | $23.8M | $39.7M | $58.8M | $65.5M | $85.9M | $111.2M | $112.2M |
| Ativos Circulantes | $84.9M | $91.4M | $119.3M | $147.7M | $261.9M | $520.2M | $557.0M | $546.8M | $620.1M | $897.0M |
| Imobilizado | $14.1M | $15.5M | $17.1M | $18.5M | $20.4M | $25.4M | $33.1M | $42.0M | $54.2M | $65.1M |
| Ágio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $74.3M | $74.3M | $74.3M |
| Ativos Intangíveis | $865000 | $482000 | $476000 | $491000 | $609000 | $610000 | $597000 | $16.9M | $13.4M | $10.1M |
| Ativos Totais | $105.5M | $113.0M | $141.5M | $171.4M | $289.4M | $585.6M | $677.1M | $787.7M | $892.0M | $1.26B |
| Contas a Pagar | $10.3M | $10.5M | $15.5M | $11.3M | $27.2M | $33.5M | $31.7M | $42.2M | $46.6M | $33.7M |
| Dívida de Curto Prazo | 0 | 0 | 0 | $826000 | $736000 | $1.0M | 0 | 0 | 0 | 0 |
| Passivos Circulantes | $31.3M | $27.9M | $39.2M | $31.6M | $57.4M | $89.7M | $88.5M | $96.7M | $123.9M | $107.4M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | $194.6M | $195.7M | $196.8M | $197.9M | $519.8M |
| Passivos Totais | $32.2M | $28.7M | $40.1M | $35.1M | $62.1M | $292.0M | $293.0M | $311.5M | $342.8M | $642.8M |
| Reservas | -$1.3M | $7.6M | $21.3M | $36.7M | $58.5M | $118.8M | $198.7M | $277.4M | $335.8M | $386.5M |
| Patrimônio Líquido | $73.4M | $84.3M | $101.4M | $136.3M | $227.3M | $293.6M | $384.1M | $476.1M | $549.2M | $617.0M |
| Dívida Total | 0 | 0 | 0 | $1.6M | $1.4M | $197.6M | $199.4M | $201.2M | $207.1M | $519.8M |
| Dívida Líquida | -$19.7M | -$43.7M | -$54.9M | -$87.9M | -$176.4M | -$200.4M | -$200.2M | -$152.9M | -$181.0M | -$148.3M |
| Capital de Giro | $53.6M | $63.6M | $80.1M | $116.1M | $204.5M | $430.5M | $468.5M | $450.1M | $496.1M | $789.6M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $199.7M | $177.8M | $199.6M | $215.2M |
| Ativos Totais | $1.23B | $1.26B | $1.30B | $1.34B |
| Passivos Totais | $653.0M | $642.8M | $615.5M | $628.9M |
| Patrimônio Líquido | $578.0M | $617.0M | $682.5M | $710.2M |
| Dívida Total | $519.1M | $519.8M | $487.8M | $488.5M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $4.7M | $14.0M | $18.7M | $22.0M | $21.8M | $60.3M | $79.9M | $78.6M | $118.5M | $50.7M |
| Depreciação e Amortização | $2.0M | $2.1M | $2.0M | $2.1M | $2.2M | $2.9M | $5.2M | $6.9M | $11.8M | $11.8M |
| Compensação em Ações | $429000 | $634000 | $1.7M | $2.9M | $4.2M | $5.8M | $10.5M | $12.6M | $14.5M | $16.9M |
| Variação Capital de Giro | -$19.0M | -$4.0M | -$12.4M | $1.3M | -$18.5M | -$14.5M | -$35.0M | -$27.8M | -$25.3M | -$24.1M |
| Fluxo de Caixa Operacional | -$17.3M | $1.6M | $16.8M | $24.6M | $25.8M | $61.0M | $57.8M | $79.3M | $122.2M | $141.9M |
| CapEx | -$1.3M | -$3.1M | -$2.2M | -$1.3M | -$2.4M | -$4.1M | -$8.2M | -$8.1M | -$10.1M | -$14.4M |
| Aquisições | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$101.8M | 0 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | -$5.0M | -$5.1M | -$6.6M | 0 | 0 | 0 | 0 | -$60.0M | 0 |
| Fluxo de Caixa Livre | -$18.6M | -$1.5M | $14.5M | $23.4M | $23.3M | $56.9M | $49.6M | $71.2M | $112.1M | $127.5M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | 0 | 0 | 0 | 0 |
| CapEx | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $4.4M | $4.3M | $3.1M | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | -14.6% | +31.8% | +8.8% | +16.3% | +73.0% | +19.0% | -1.7% | +36.1% | +15.6% |
| Crescimento Lucro Líquido (anual) | | +194.9% | +34.2% | +17.4% | -0.9% | +176.8% | +32.6% | -1.6% | +50.7% | -57.2% |
| Crescimento LPA (anual) | | +207.7% | +30.0% | +5.8% | +0.0% | +150.9% | +31.2% | -2.8% | +48.9% | -57.6% |
| Variação de Ações (anual) | | +1.7% | +2.2% | +4.6% | +5.0% | +11.6% | +7.1% | +1.3% | +1.0% | +1.2% |
| Crescimento FCF (anual) | | +91.9% | +1067.9% | +60.6% | -0.1% | +143.7% | -12.8% | +43.6% | +57.4% | +13.7% |
| Margem Bruta | 44.6% | 48.7% | 49.4% | 48.3% | 47.0% | 50.9% | 49.8% | 46.8% | 48.9% | 50.5% |
| Margem Operacional | 6.0% | -3.2% | 16.3% | 16.4% | 14.5% | 26.3% | 25.4% | 20.7% | 25.2% | 25.8% |
| Margem EBITDA | 4.4% | -1.1% | 17.9% | 18.0% | 16.5% | 27.9% | 29.1% | 30.0% | 33.3% | 12.9% |
| Margem Líquida | 4.3% | 14.9% | 15.2% | 16.4% | 14.0% | 22.4% | 24.9% | 24.9% | 27.6% | 10.2% |
| Margem FCF | -17.0% | -1.6% | 11.8% | 17.4% | 15.0% | 21.1% | 15.5% | 22.6% | 26.1% | 25.7% |
| Taxa Efetiva de Imposto | 15.8% | 153.0% | 9.8% | 8.6% | 6.9% | 16.2% | 9.3% | 10.3% | 9.7% | 3.1% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-0.53 | $-0.04 | $0.40 | $0.61 | $0.58 | $1.26 | $1.03 | $1.46 | $2.27 | $2.55 |
| Dividendo por Ação | $0.00 | $0.14 | $0.14 | $0.17 | $0.00 | $0.00 | $0.00 | $0.00 | $1.22 | $0.00 |
| Ações em Circulação (Básicas) | $35.3M | $35.4M | $36.2M | $37.6M | $39.4M | $43.6M | $44.2M | $44.7M | $45.3M | $45.7M |
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 | 5.82% |
| Retorno sobre capital investido | 7.81% |
| Retorno sobre ativos | 2.81% |
| Margem bruta | 50.05% |
| Margem operacional | 23.19% |
| Margem líquida | 7.40% |
Saúde financeira
| Dívida / Patrimônio | 0.69 |
| Liquidez corrente | 7.38 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 6.45 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 25.31 | 14.38 | 13.02 | 19.69 | 39.84 | 33.36 | 12.13 | 39.42 | 30.83 | 95.81 |
| P/VP | 1.59 | 2.42 | 2.42 | 2.99 | 3.80 | 6.84 | 2.52 | 6.52 | 6.66 | 7.88 |
| P/V | 1.06 | 2.18 | 1.99 | 3.04 | 5.54 | 7.45 | 3.02 | 9.84 | 8.52 | 9.80 |
| Margem Bruta | 44.6% | 48.7% | 49.4% | 48.3% | 47.0% | 50.9% | 49.8% | 46.8% | 48.9% | 50.5% |
| Margem Operacional | 6.0% | -3.2% | 16.3% | 16.4% | 14.5% | 26.3% | 25.4% | 20.7% | 25.2% | 25.8% |
| Margem Líquida | 4.3% | 14.9% | 15.2% | 16.4% | 14.0% | 22.4% | 24.9% | 24.9% | 27.6% | 10.2% |