Demonstrações financeiras detalhadas de CBAK Energy Technology, Inc. (CBAT): 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
CBAK Energy Technology, Inc. registou receitas de $195.2M no último exercício, com um CAGR de 5 anos de 39.0%.
Margens dos últimos 12 meses: margem bruta 6.4%, margem operacional -11.1%, margem líquida -7.4%.
Ao preço atual de $1.02, CBAT apresenta lucros negativos (P/L não significativo) e um ROE de -14.94%. A capitalização de mercado é de $90M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $8.4M | $58.4M | $24.4M | $22.2M | $37.6M | $52.7M | $248.7M | $204.4M | $176.6M | $195.2M |
| Custo da Receita | $10.4M | $68.6M | $27.7M | $21.6M | $34.9M | $47.6M | $230.6M | $172.7M | $134.8M | $176.8M |
| Lucro Bruto | -$2.0M | -$10.2M | -$3.3M | $622526 | $2.7M | $5.1M | $18.1M | $31.7M | $41.8M | $18.4M |
| P&D | $1.6M | $1.7M | $2.5M | $1.9M | $1.7M | $5.3M | $10.6M | $11.9M | $13.0M | $15.8M |
| Despesas Gerais e Administrativas | $8.6M | $7.5M | $6.6M | $5.4M | $4.4M | $12.3M | $11.7M | $18.7M | $19.1M | $21.3M |
| Despesas Operacionais | $10.2M | $10.0M | $9.2M | $10.7M | $11.2M | $16.8M | $29.6M | $39.0M | $33.0M | $37.1M |
| Lucro Operacional | -$12.3M | -$20.2M | -$13.4M | -$10.1M | -$8.5M | -$11.7M | -$11.5M | -$7.3M | $8.8M | -$18.7M |
| EBITDA | -$11.2M | -$19.5M | $1.5M | -$6.7M | -$3.7M | -$8.4M | $4.3M | $11.4M | $18.8M | -$560824 |
| Despesas com Juros | $134674 | $245015 | $834391 | $1.4M | $1.4M | 0 | 0 | 0 | 0 | 0 |
| Lucro Antes de Impostos | -$12.1M | -$21.5M | -$2.0M | -$10.9M | -$7.8M | $53.8M | -$12.6M | -$6.1M | $11.1M | -$11.1M |
| Imposto | $600513 | 0 | -$14305 | 0 | 0 | -$7.7M | -$1.2M | $2.5M | $1.6M | -$184686 |
| Lucro Líquido | -$12.7M | -$21.5M | -$1.9M | -$10.8M | -$7.8M | $61.5M | -$9.4M | -$2.4M | $11.8M | -$9.4M |
| LPA | $-0.71 | $-0.92 | $-0.07 | $-0.28 | $-0.13 | $0.70 | $-0.11 | $-0.03 | $0.13 | $-0.11 |
| LPA Diluído | $-0.71 | $-0.92 | $-0.07 | $-0.28 | $-0.13 | $0.70 | $-0.11 | $-0.03 | $0.13 | $-0.10 |
| Ações em Circulação (Diluídas) | $17.8M | $23.2M | $26.6M | $39.0M | $62.0M | $87.9M | $88.9M | $89.3M | $90.2M | $89.2M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Receita | $40.5M | $60.9M | $58.8M | $69.6M |
| Lucro Bruto | $4.5M | $4.9M | $4.3M | $1.0M |
| Lucro Operacional | -$3.5M | -$4.0M | -$8.2M | -$9.7M |
| EBITDA | -$847379 | $3.4M | -$3.3M | -$4.8M |
| Lucro Líquido | -$3.1M | $2.7M | -$7.4M | -$9.3M |
| LPA | $-0.03 | $0.03 | $-0.08 | $-0.10 |
| LPA Diluído | $-0.03 | $0.03 | $-0.08 | $-0.10 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $2.0M | $1.6M | $449670 | $1.6M | $11.7M | $7.4M | $6.5M | $4.6M | $6.7M | $8.3M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | $63184 | $17385 | $790516 | 0 | 0 | $4.2M | 0 |
| Contas a Receber | $8.6M | $63.5M | $15.6M | $8.0M | $29.8M | $60.0M | $37.9M | $34.0M | $44.9M | $51.3M |
| Estoque | $16.5M | $9.8M | $9.6M | $8.7M | $5.3M | $30.1M | $49.4M | $33.4M | $22.9M | $50.6M |
| Ativos Circulantes | $32.3M | $85.2M | $56.4M | $28.5M | $63.2M | $122.8M | $125.7M | $128.4M | $141.4M | $180.6M |
| Imobilizado | $53.1M | $60.0M | $63.9M | $67.1M | $78.7M | $119.4M | $101.2M | $130.5M | $131.3M | $214.2M |
| Ágio | 0 | 0 | 0 | 0 | 0 | $1.6M | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | $22885 | $20049 | $7.3M | $15178 | $11807 | $15.8M | $13.7M | $12.6M | $11.5M | $71.7M |
| Ativos Totais | $93.3M | $153.1M | $127.6M | $95.6M | $142.8M | $262.6M | $244.0M | $281.2M | $302.2M | $426.2M |
| Contas a Pagar | $8.3M | $65.6M | $23.1M | $16.6M | $29.0M | $40.4M | $32.5M | $26.8M | $26.3M | $60.0M |
| Dívida de Curto Prazo | $5.9M | $14.6M | $17.8M | $26.8M | $15.0M | $13.5M | $15.6M | $32.9M | $26.4M | $28.9M |
| Passivos Circulantes | $47.6M | $116.9M | $92.9M | $59.0M | $73.7M | $112.8M | $111.9M | $160.5M | $171.7M | $299.8M |
| Dívida de Longo Prazo | $18.3M | $19.5M | $20.6M | $9.5M | 0 | 0 | 0 | 0 | 0 | $4.1M |
| Passivos Totais | $78.2M | $150.9M | $127.3M | $81.9M | $90.4M | $121.7M | $119.7M | $167.7M | $182.2M | $316.7M |
| Reservas | -$139.8M | -$163.5M | -$165.4M | -$174.9M | -$182.8M | -$122.5M | -$131.9M | -$134.4M | -$122.6M | -$133.8M |
| Patrimônio Líquido | $15.1M | $2.2M | $315322 | $13.6M | $52.4M | $133.3M | $117.5M | $112.8M | $121.7M | $112.7M |
| Dívida Total | $24.9M | $34.1M | $38.4M | $36.3M | $15.0M | $15.2M | $17.6M | $35.7M | $30.1M | $37.7M |
| Dívida Líquida | $22.9M | $32.5M | $38.0M | $34.6M | $3.3M | $7.0M | $11.1M | $31.1M | $19.2M | $29.4M |
| Capital de Giro | -$15.2M | -$31.7M | -$36.6M | -$30.5M | -$10.5M | $10.1M | $13.8M | -$32.1M | -$30.3M | -$119.2M |
Balanço (Trimestral)
| Ano | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Caixa e Equivalentes | $5.7M | $10.5M | $8.3M | $9.3M |
| Ativos Totais | $333.1M | $363.9M | $426.2M | $491.0M |
| Passivos Totais | $217.3M | $245.4M | $316.7M | $388.8M |
| Patrimônio Líquido | $118.2M | $121.4M | $112.7M | $105.2M |
| Dívida Total | $42.6M | $38.0M | $37.7M | $51.0M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$12.7M | -$21.5M | -$2.0M | -$10.9M | -$7.8M | $61.6M | -$11.3M | -$8.5M | $9.6M | -$9.4M |
| Depreciação e Amortização | $1.1M | $1.6M | $2.5M | $2.8M | $2.7M | $4.1M | $8.6M | $10.3M | $9.2M | $10.58B |
| Compensação em Ações | $1.4M | $759292 | $221180 | $770113 | $803931 | $1.0M | $64193 | $1.2M | $376648 | $76.8M |
| Variação Capital de Giro | -$12.2M | $17.8M | $18.9M | -$18.3M | -$5.2M | -$8.5M | $10.2M | $28.8M | $15.0M | $42.3M |
| Fluxo de Caixa Operacional | -$18.9M | $6.2M | $8.7M | -$21.2M | -$5.1M | -$4.3M | $15.1M | $46.5M | $39.7M | $48.55B |
| CapEx | -$3.0M | -$12.0M | -$7.4M | -$2.5M | -$5.7M | -$19.2M | -$12.4M | -$31.1M | -$17.2M | -$44.65B |
| Aquisições | 0 | 0 | $58417 | 0 | 0 | -$17.5M | $4.2M | -$4.0M | $278114 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$1.5M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$21.9M | -$5.8M | $1.4M | -$23.7M | -$10.8M | -$23.5M | $2.7M | $15.4M | $22.5M | $3.90B |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Fluxo de Caixa Operacional | $13.8M | $14.6M | $29.8M | $22.3M |
| CapEx | -$9.6M | -$8.6M | -$13.7M | -$11.8M |
| Fluxo de Caixa Livre | $4.1M | $6.0M | $16.1M | $10.5M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | 0 | 0 | $12992 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +597.5% | -58.1% | -9.2% | +69.3% | +40.2% | +372.2% | -17.8% | -13.6% | +10.5% |
| Crescimento Lucro Líquido (anual) | | -68.8% | +90.9% | -454.1% | +27.5% | +887.6% | -115.4% | +74.1% | +581.4% | -179.5% |
| Crescimento LPA (anual) | | -29.6% | +92.1% | -283.0% | +53.6% | +638.5% | -115.7% | +75.1% | +574.5% | -184.6% |
| Variação de Ações (anual) | | +30.6% | +14.5% | +46.5% | +59.1% | +41.8% | +1.2% | +0.4% | +1.0% | -1.0% |
| Crescimento FCF (anual) | | +73.3% | +123.5% | -1831.3% | +54.4% | -117.3% | +111.7% | +460.5% | +46.5% | +17227.9% |
| Margem Bruta | -24.4% | -17.5% | -13.5% | 2.8% | 7.2% | 9.7% | 7.3% | 15.5% | 23.7% | 9.4% |
| Margem Operacional | -146.4% | -34.6% | -55.0% | -45.5% | -22.6% | -22.2% | -4.6% | -3.5% | 5.0% | -9.6% |
| Margem EBITDA | -133.7% | -33.4% | 6.1% | -30.3% | -10.0% | -16.0% | 1.7% | 5.6% | 10.6% | -0.3% |
| Margem Líquida | -151.9% | -36.8% | -8.0% | -48.5% | -20.8% | 116.7% | -3.8% | -1.2% | 6.7% | -4.8% |
| Margem FCF | -261.4% | -10.0% | 5.6% | -106.7% | -28.8% | -44.6% | 1.1% | 7.5% | 12.7% | 1999.0% |
| Taxa Efetiva de Imposto | -5.0% | -0.0% | 0.7% | -0.0% | -0.0% | -14.4% | 9.8% | -41.1% | 14.0% | 1.7% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-1.23 | $-0.25 | $0.05 | $-0.61 | $-0.17 | $-0.27 | $0.03 | $0.17 | $0.25 | $43.72 |
| 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) | $17.8M | $23.2M | $26.6M | $39.0M | $62.0M | $87.6M | $88.9M | $89.3M | $89.9M | $89.2M |
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 | -14.94% |
| Retorno sobre capital investido | -15.40% |
| Retorno sobre ativos | -3.48% |
| Margem bruta | 6.38% |
| Margem operacional | -11.09% |
| Margem líquida | -7.43% |
Saúde financeira
| Dívida / Patrimônio | 0.49 |
| Liquidez corrente | 0.65 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -3.17 | -1.61 | -5.20 | -4.11 | -38.92 | 2.23 | -9.00 | -38.32 | 7.23 | -7.59 |
| P/VP | 2.65 | 15.66 | 32.04 | 3.29 | 5.99 | 1.03 | 0.75 | 0.83 | 0.69 | 0.66 |
| P/V | 4.78 | 0.59 | 0.41 | 2.02 | 8.35 | 2.59 | 0.35 | 0.46 | 0.48 | 0.38 |
| Margem Bruta | -24.4% | -17.5% | -13.5% | 2.8% | 7.2% | 9.7% | 7.3% | 15.5% | 23.7% | 9.4% |
| Margem Operacional | -146.4% | -34.6% | -55.0% | -45.5% | -22.6% | -22.2% | -4.6% | -3.5% | 5.0% | -9.6% |
| Margem Líquida | -151.9% | -36.8% | -8.0% | -48.5% | -20.8% | 116.7% | -3.8% | -1.2% | 6.7% | -4.8% |