Demonstrações financeiras detalhadas de Cannae Holdings, Inc. (CNNE): 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
Cannae Holdings, Inc. registou receitas de $423.6M no último exercício, com um CAGR de 5 anos de -6.3%.
Margens dos últimos 12 meses: margem bruta 11.2%, margem operacional -28.4%, margem líquida -38.2%.
Ao preço atual de $15.18, CNNE apresenta lucros negativos (P/L não significativo) e um ROE de -15.04%. A capitalização de mercado é de $667M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $1.18B | $1.16B | $1.15B | $1.07B | $585.7M | $742.2M | $662.1M | $570.0M | $452.5M | $423.6M |
| Custo da Receita | $1.05B | $1.09B | $1.13B | $1.00B | $619.1M | $697.5M | $630.9M | $527.0M | $449.6M | $369.9M |
| Lucro Bruto | $126.0M | $70.0M | $19.0M | $66.9M | -$33.4M | $44.7M | $31.2M | $43.0M | $2.9M | $53.7M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $151.8M | $103.2M | $215.1M | $109.7M | 0 | $231.1M | $212.5M | $17.5M | 0 | 0 |
| Despesas Operacionais | $128.2M | $147.5M | $164.8M | $184.5M | $155.1M | $178.2M | $175.8M | $161.9M | $106.6M | $173.3M |
| Lucro Operacional | -$2.2M | -$78.4M | -$105.2M | -$83.5M | -$188.5M | -$133.5M | -$144.6M | -$118.9M | -$103.7M | -$119.6M |
| EBITDA | $55.1M | -$29.1M | -$58.9M | -$4.0M | $2.25B | -$374.0M | -$278.7M | -$150.9M | -$224.5M | -$384.3M |
| Despesas com Juros | $5.2M | $7.0M | $4.7M | $17.8M | $9.0M | $9.8M | $12.3M | $17.9M | $11.6M | $10.4M |
| Lucro Antes de Impostos | -$24.3M | -$71.8M | $6.5M | $122.8M | $2.24B | -$360.4M | -$519.5M | -$401.1M | -$310.5M | -$414.0M |
| Imposto | -$10.4M | -$16.6M | $15.0M | $24.2M | $481.2M | -$74.0M | -$89.9M | -$77.0M | -$400000 | $13.0M |
| Lucro Líquido | -$12.4M | $108.8M | $27.6M | $77.3M | $1.79B | -$287.0M | -$428.1M | -$313.4M | -$304.6M | -$513.2M |
| LPA | $-0.18 | $1.54 | $0.39 | $1.07 | $20.84 | $-3.19 | $-5.25 | $-4.27 | $-4.73 | $-9.08 |
| LPA Diluído | $-0.17 | $1.54 | $0.39 | $1.07 | $20.79 | $-3.19 | $-5.25 | $-4.27 | $-4.73 | $-9.08 |
| Ações em Circulação (Diluídas) | $70.9M | $70.6M | $71.3M | $72.4M | $85.9M | $90.1M | $81.6M | $73.4M | $64.4M | $56.5M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $106.9M | $103.3M | $96.2M | $102.2M |
| Lucro Bruto | $6.2M | $12.8M | $9.7M | $16.9M |
| Lucro Operacional | -$13.2M | -$24.1M | -$22.1M | -$56.8M |
| EBITDA | -$54.3M | $4.3M | -$27.2M | $31.9M |
| Lucro Líquido | -$68.4M | -$93.0M | -$32.1M | $37.5M |
| LPA | $-1.25 | $-1.93 | $-0.70 | $0.86 |
| LPA Diluído | $-1.25 | $-1.93 | $-0.70 | $0.86 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $141.7M | $245.6M | $315.7M | $533.7M | $724.7M | $85.8M | $247.7M | $106.2M | $131.5M | $182.0M |
| Investimentos de Curto Prazo | $51.8M | $17.7M | $31.4M | 0 | $35.2M | 0 | $34.9M | $15.6M | $6.2M | 0 |
| Contas a Receber | $24.7M | $35.8M | $30.4M | $16.0M | $17.6M | 0 | $1.9M | $26.0M | $35.7M | $60.6M |
| Estoque | $23.9M | $29.7M | $22.3M | $16.3M | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $272.6M | $350.2M | $451.7M | $630.9M | $844.2M | $121.6M | $310.6M | $177.3M | $196.9M | $268.3M |
| Imobilizado | $235.0M | $218.8M | $176.4M | $355.5M | $348.1M | $272.6M | $243.5M | $202.2M | $197.8M | $165.9M |
| Ágio | $103.1M | $202.7M | $164.9M | $66.1M | $53.4M | $53.4M | $53.4M | $53.4M | $53.4M | $53.4M |
| Ativos Intangíveis | $111.8M | $214.5M | $175.8M | $63.1M | $51.8M | $26.9M | $23.5M | $16.8M | $15.1M | $13.2M |
| Ativos Totais | $1.47B | $1.49B | $1.46B | $2.09B | $4.61B | $3.89B | $3.13B | $2.69B | $2.23B | $1.32B |
| Contas a Pagar | $24.7M | $20.3M | $23.0M | $19.6M | $25.7M | $22.7M | $25.8M | $27.0M | $16.6M | $91.9M |
| Dívida de Curto Prazo | $11.4M | $122.2M | $5.9M | $7.0M | $11.3M | $2.3M | $2.3M | $2.5M | $61.0M | $21.7M |
| Passivos Circulantes | $159.5M | $249.8M | $160.3M | $198.7M | $202.0M | $179.5M | $122.7M | $107.5M | $146.5M | $129.7M |
| Dívida de Longo Prazo | $93.3M | $12.7M | $42.2M | $120.1M | $52.2M | $14.1M | $95.1M | $102.5M | $120.0M | $187.3M |
| Passivos Totais | $463.5M | $334.1M | $260.2M | $562.4M | $828.2M | $548.5M | $410.6M | $377.5M | $413.6M | $329.8M |
| Reservas | 0 | $200000 | $46.1M | $143.6M | $1.93B | $1.64B | $1.21B | $901.3M | $567.1M | $23.3M |
| Patrimônio Líquido | $893.5M | $1.06B | $1.12B | $1.49B | $3.78B | $3.34B | $2.72B | $2.32B | $1.84B | $1.02B |
| Dívida Total | $134.7M | $134.9M | $48.1M | $368.3M | $285.3M | $235.8M | $300.0M | $274.2M | $330.5M | $331.8M |
| Dívida Líquida | -$58.8M | -$128.4M | -$299.0M | -$165.4M | -$474.6M | $150.0M | $17.4M | $152.4M | $192.8M | $149.8M |
| Capital de Giro | $113.1M | $100.4M | $291.4M | $432.2M | $642.2M | -$57.9M | $187.9M | $69.8M | $50.4M | $138.6M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $233.8M | $182.0M | $135.7M | $70.4M |
| Ativos Totais | $1.51B | $1.32B | $1.24B | $1.26B |
| Passivos Totais | $331.6M | $329.8M | $317.2M | $346.5M |
| Patrimônio Líquido | $1.21B | $1.02B | $958.9M | $957.6M |
| Dívida Total | $210.1M | $331.8M | $203.9M | $194.3M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$11.9M | $92.5M | -$10.6M | $46.8M | $1.79B | -$286.4M | -$429.6M | -$313.4M | -$310.1M | -$3.08B |
| Depreciação e Amortização | $62.9M | $58.1M | $61.3M | $93.3M | $55.8M | $49.0M | $44.6M | $38.3M | $27.8M | $407.0M |
| Compensação em Ações | $1.2M | $500000 | $21.8M | $4.6M | $4.2M | $2.4M | $1.5M | $3.5M | $19.0M | $19.0M |
| Variação Capital de Giro | -$15.4M | $32.6M | $14.6M | -$89.1M | -$59.7M | -$201.4M | -$235.9M | -$130.6M | -$28.4M | $33.6M |
| Fluxo de Caixa Operacional | $60.3M | -$90.7M | -$22.9M | -$84.2M | -$113.9M | -$176.1M | -$205.1M | -$87.8M | -$90.1M | -$18.1M |
| CapEx | -$55.2M | -$40.1M | -$15.9M | -$28.3M | -$22.3M | -$13.7M | -$14.3M | -$10.0M | -$7.0M | -$10.4M |
| Aquisições | -$144.5M | $102.0M | $61.5M | -$504.9M | $8.6M | -$954.8M | $266.7M | $7.3M | $336.8M | $1.8M |
| Recompra de Ações | -$52.1M | -$46.0M | -$200000 | -$5.7M | -$15.2M | -$160.4M | -$229.5M | -$113.4M | -$235.0M | -$319.7M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$22.4M | -$30.5M |
| Fluxo de Caixa Livre | $5.1M | -$130.8M | -$38.8M | -$112.5M | -$136.2M | -$189.8M | -$219.4M | -$97.8M | -$97.1M | -$28.5M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | -$21.6M | $16.0M | -$18.7M | -$3.0M |
| CapEx | -$2.5M | -$4.0M | -$1.8M | -$3.1M |
| Fluxo de Caixa Livre | -$24.1M | $12.0M | -$20.5M | -$6.1M |
| Dividendos Pagos | -$8.0M | -$7.1M | -$6.9M | -$6.6M |
| Compensação em Ações | $1.9M | $1.9M | $2.2M | $2.0M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | -1.8% | -0.8% | -6.8% | -45.3% | +26.7% | -10.8% | -13.9% | -20.6% | -6.4% |
| Crescimento Lucro Líquido (anual) | | +977.4% | -74.6% | +180.1% | +2210.7% | -116.1% | -49.2% | +26.8% | +2.8% | -68.5% |
| Crescimento LPA (anual) | | +955.6% | -74.7% | +174.4% | +1847.7% | -115.3% | -64.6% | +18.7% | -10.8% | -92.0% |
| Variação de Ações (anual) | | -0.4% | +1.0% | +1.5% | +18.6% | +4.9% | -9.4% | -10.0% | -12.3% | -12.3% |
| Crescimento FCF (anual) | | -2664.7% | +70.3% | -189.9% | -21.1% | -39.4% | -15.6% | +55.4% | +0.7% | +70.6% |
| Margem Bruta | 10.7% | 6.1% | 1.7% | 6.3% | -5.7% | 6.0% | 4.7% | 7.5% | 0.6% | 12.7% |
| Margem Operacional | -0.2% | -6.8% | -9.2% | -7.8% | -32.2% | -18.0% | -21.8% | -20.9% | -22.9% | -28.2% |
| Margem EBITDA | 4.7% | -2.5% | -5.1% | -0.4% | 383.6% | -50.4% | -42.1% | -26.5% | -49.6% | -90.7% |
| Margem Líquida | -1.1% | 9.4% | 2.4% | 7.2% | 305.0% | -38.7% | -64.7% | -55.0% | -67.3% | -121.2% |
| Margem FCF | 0.4% | -11.3% | -3.4% | -10.5% | -23.3% | -25.6% | -33.1% | -17.2% | -21.5% | -6.7% |
| Taxa Efetiva de Imposto | 42.8% | 23.1% | 230.8% | 19.7% | 21.5% | 20.5% | 17.3% | 19.2% | 0.1% | -3.1% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.07 | $-1.85 | $-0.54 | $-1.55 | $-1.59 | $-2.11 | $-2.69 | $-1.33 | $-1.51 | $-0.50 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.54 |
| Ações em Circulação (Básicas) | $70.6M | $70.6M | $71.2M | $72.2M | $85.7M | $90.1M | $81.6M | $73.4M | $64.4M | $56.5M |
O que olhar em empresas de Consumer Cyclical
- Margem operacional média 5a (Média do ciclo) — Olhar a média do ciclo, não o ano atual (pico ou vale).
- Rotatividade de inventário (≥4x/ano) — Retail saudável roda inventário rápido. Uma queda sinaliza fraca procura.
- ROIC médio 5a (≥12%) — Cíclicas com ROIC médio >12% são vencedoras estruturais.
- Dívida líquida / EBITDA (pico) (<3x em vale) — Em cíclicas a dívida mata em recessão.
- Current Ratio (>1,5x) — Aguenta 12-18 meses sem caixa operacional.
- Altman Z-Score (>2,99 seguro) — Modelo de falência — chave em cíclicas sensíveis a recessão.
Rentabilidade
| Retorno sobre patrimônio | -15.04% |
| Retorno sobre capital investido | -10.18% |
| Retorno sobre ativos | -12.40% |
| Margem bruta | 11.16% |
| Margem operacional | -28.44% |
| Margem líquida | -38.18% |
Saúde financeira
| Dívida / Patrimônio | 0.20 |
| Liquidez corrente | 1.24 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 1.79 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -102.17 | 11.06 | 43.90 | 34.76 | 2.12 | -11.02 | -3.93 | -4.57 | -4.20 | -1.73 |
| P/VP | 1.45 | 1.13 | 1.08 | 1.80 | 1.00 | 0.95 | 0.62 | 0.62 | 0.70 | 0.87 |
| P/V | 1.10 | 1.04 | 1.06 | 2.51 | 6.48 | 4.27 | 2.54 | 2.51 | 2.83 | 2.10 |
| Margem Bruta | 10.7% | 6.1% | 1.7% | 6.3% | -5.7% | 6.0% | 4.7% | 7.5% | 0.6% | 12.7% |
| Margem Operacional | -0.2% | -6.8% | -9.2% | -7.8% | -32.2% | -18.0% | -21.8% | -20.9% | -22.9% | -28.2% |
| Margem Líquida | -1.1% | 9.4% | 2.4% | 7.2% | 305.0% | -38.7% | -64.7% | -55.0% | -67.3% | -121.2% |