Demonstrações financeiras detalhadas de Commvault Systems, Inc. (CVLT): 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
Commvault Systems, Inc. registou receitas de $1.18B no último exercício, com um CAGR de 5 anos de 10.3%.
Margens dos últimos 12 meses: margem bruta 80.9%, margem operacional 7.7%, margem líquida 5.6%. O fluxo de caixa livre cresceu a CAGR de 15.4% em 5 anos.
Ao preço atual de $145.21, CVLT negocia a um P/L de 98.66 e um ROE de 56.13%. A capitalização de mercado é de $6.0B.
Demonstração de Resultados (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Receita | $645.0M | $699.4M | $711.0M | $670.9M | $723.5M | $769.6M | $784.6M | $839.2M | $995.6M | $1.18B |
| Custo da Receita | $85.2M | $98.2M | $117.0M | $117.1M | $109.4M | $113.9M | $135.4M | $151.6M | $179.0M | $233.5M |
| Lucro Bruto | $559.8M | $601.2M | $594.0M | $553.8M | $614.1M | $655.7M | $649.2M | $687.6M | $816.6M | $950.2M |
| P&D | $83.5M | $94.2M | $92.6M | $110.0M | $133.4M | $153.6M | $141.8M | $132.3M | $146.3M | $162.2M |
| Despesas Gerais e Administrativas | $472.9M | $501.4M | $471.0M | $427.9M | $424.2M | $444.7M | $445.0M | $469.0M | $572.5M | $682.4M |
| Despesas Operacionais | $561.1M | $602.2M | $589.0M | $571.3M | $636.4M | $614.2M | $665.1M | $612.3M | $742.8M | $844.6M |
| Lucro Operacional | -$1.2M | -$946000 | $4.9M | -$17.5M | -$22.3M | $41.6M | -$15.9M | $75.4M | $73.7M | $105.6M |
| EBITDA | $9.2M | $9.4M | $31.7M | $4.5M | -$5.4M | $54.5M | -$4.6M | $90.6M | $90.7M | $106.3M |
| Despesas com Juros | $957000 | $1.2M | 0 | 0 | 0 | $109000 | $472000 | $415000 | $416000 | $3.8M |
| Lucro Antes de Impostos | -$2.0M | -$3.5M | $10.4M | -$12.5M | -$21.2M | $43.4M | -$15.4M | $83.6M | $81.1M | $92.1M |
| Imposto | -$1.1M | $58.4M | $6.9M | -$6.9M | $9.7M | $9.8M | $20.4M | -$85.3M | $4.9M | $21.5M |
| Lucro Líquido | $540000 | -$61.9M | $3.6M | -$5.6M | -$31.0M | $33.6M | -$35.8M | $168.9M | $76.1M | $70.7M |
| LPA | $0.01 | $-1.37 | $0.08 | $-0.12 | $-0.66 | $0.74 | $-0.80 | $3.85 | $1.74 | $1.61 |
| LPA Diluído | $0.01 | $-1.37 | $0.07 | $-0.12 | $-0.66 | $0.71 | $-0.80 | $3.75 | $1.68 | $1.58 |
| Ações em Circulação (Diluídas) | $46.6M | $45.2M | $47.6M | $45.8M | $46.7M | $47.2M | $44.7M | $45.1M | $45.2M | $44.7M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $276.2M | $313.8M | $311.7M | $314.1M |
| Lucro Bruto | $221.1M | $254.5M | $251.1M | $256.5M |
| Lucro Operacional | $12.5M | $19.8M | $35.2M | $25.7M |
| EBITDA | $18.3M | $31.1M | $27.1M | $28.0M |
| Lucro Líquido | $14.7M | $17.8M | $14.6M | $21.1M |
| LPA | $0.33 | $0.40 | $0.34 | $0.51 |
| LPA Diluído | $0.33 | $0.40 | $0.34 | $0.50 |
Balanço (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caixa e Equivalentes | $329.5M | $330.8M | $328.0M | $296.1M | $397.2M | $267.5M | $287.8M | $312.8M | $302.1M | $900.0M |
| Investimentos de Curto Prazo | $120.7M | $131.6M | $130.3M | $43.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $140.1M | $162.1M | $176.8M | $147.0M | $188.1M | $194.2M | $210.4M | $222.7M | $252.0M | $330.5M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $598.7M | $646.8M | $655.0M | $513.7M | $607.6M | $484.1M | $550.9M | $595.1M | $635.1M | $1.29B |
| Imobilizado | $132.3M | $128.6M | $122.7M | $129.5M | $133.6M | $121.4M | $20.1M | $18.5M | $18.4M | $44.7M |
| Ágio | 0 | 0 | 0 | $164.4M | $112.4M | $127.8M | $127.8M | $127.8M | $185.3M | $209.3M |
| Ativos Intangíveis | 0 | 0 | 0 | -$5.7M | 0 | $3.5M | $2.3M | $1.0M | $20.7M | $19.7M |
| Ativos Totais | $829.9M | $818.6M | $822.5M | $867.6M | $914.2M | $827.9M | $792.6M | $943.9M | $1.12B | $1.89B |
| Contas a Pagar | $117000 | $761000 | $2.2M | $307000 | $374000 | $432000 | $108000 | $299000 | $373000 | $651000 |
| Dívida de Curto Prazo | 0 | 0 | 0 | $7.7M | $7.5M | $4.8M | $4.5M | $4.9M | $4.6M | $7.0M |
| Passivos Circulantes | $285.6M | $324.2M | $326.3M | $328.6M | $373.2M | $394.1M | $410.1M | $484.9M | $555.0M | $658.2M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $880.9M |
| Passivos Totais | $362.9M | $414.6M | $431.1M | $455.7M | $520.2M | $572.1M | $606.5M | $665.8M | $793.1M | $1.88B |
| Reservas | -$240.0M | -$373.7M | -$485.5M | -$553.8M | -$665.8M | -$898.7M | -$1.06B | -$1.06B | -$1.13B | -$1.47B |
| Patrimônio Líquido | $466.9M | $404.1M | $391.3M | $411.9M | $394.0M | $255.8M | $186.1M | $278.1M | $325.1M | $7.5M |
| Dívida Total | 0 | 0 | 0 | $16.5M | $22.9M | $16.0M | $12.8M | $12.1M | $11.0M | $917.5M |
| Dívida Líquida | -$450.2M | -$462.4M | -$458.3M | -$323.2M | -$374.3M | -$251.5M | -$275.0M | -$300.7M | -$291.2M | $17.5M |
| Capital de Giro | $313.1M | $322.6M | $328.7M | $185.1M | $234.4M | $90.0M | $140.8M | $110.2M | $80.0M | $628.3M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $1.06B | $1.03B | $900.0M | $929.8M |
| Ativos Totais | $1.92B | $2.04B | $1.89B | $1.89B |
| Passivos Totais | $1.71B | $1.82B | $1.88B | $1.84B |
| Patrimônio Líquido | $210.5M | $216.7M | $7.5M | $52.1M |
| Dívida Total | $932.5M | $950.5M | $917.5M | $917.7M |
Fluxo de Caixa (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Lucro Líquido | $540000 | -$61.9M | $3.6M | -$5.6M | -$31.0M | $33.6M | -$35.8M | $168.9M | $76.1M | $70.7M |
| Depreciação e Amortização | $10.2M | $11.8M | $12.1M | $17.1M | $15.9M | $10.9M | $32.9M | $33.1M | $9.1M | $10.3M |
| Compensação em Ações | $73.9M | $74.1M | $80.5M | $65.9M | $84.8M | $105.2M | $105.7M | $94.6M | $113.3M | $123.4M |
| Variação Capital de Giro | $31.7M | -$13.8M | -$3.4M | -$3.8M | -$6.4M | $9.4M | $14.3M | $16.9M | -$12.1M | -$27.5M |
| Fluxo de Caixa Operacional | $100.0M | $84.2M | $110.2M | $88.5M | $124.0M | $177.2M | $170.3M | $203.8M | $207.4M | $244.7M |
| CapEx | -$6.4M | -$7.0M | -$6.6M | -$3.2M | -$8.2M | -$3.9M | -$3.2M | -$4.1M | -$3.8M | -$7.5M |
| Aquisições | 0 | 0 | -$1.3M | -$157.5M | 0 | -$16.9M | 0 | 0 | -$65.3M | -$25.8M |
| Recompra de Ações | -$50.0M | -$112.2M | -$132.7M | -$77.2M | -$95.3M | -$305.2M | -$150.9M | -$184.0M | -$165.0M | -$446.1M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $93.6M | $77.1M | $103.6M | $85.3M | $115.8M | $173.3M | $167.0M | $199.7M | $203.6M | $237.2M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $76.8M | $4.0M | $132.2M | $51.7M |
| CapEx | -$3.2M | -$2.1M | -$344000 | -$569000 |
| Fluxo de Caixa Livre | $73.6M | $1.9M | $131.8M | $51.1M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $32.2M | $29.1M | $32.0M | $35.3M |
Crescimento e Margens (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crescimento Receita (anual) | | +8.4% | +1.7% | -5.6% | +7.8% | +6.4% | +1.9% | +7.0% | +18.6% | +18.9% |
| Crescimento Lucro Líquido (anual) | | -11563.0% | +105.8% | -258.5% | -448.3% | +208.6% | -206.4% | +572.1% | -54.9% | -7.2% |
| Crescimento LPA (anual) | | -13800.0% | +105.7% | -254.4% | -450.0% | +212.1% | -208.1% | +581.2% | -54.8% | -7.5% |
| Variação de Ações (anual) | | -3.0% | +5.2% | -3.8% | +1.9% | +1.2% | -5.4% | +1.0% | +0.2% | -1.2% |
| Crescimento FCF (anual) | | -17.6% | +34.4% | -17.7% | +35.8% | +49.7% | -3.6% | +19.6% | +2.0% | +16.5% |
| Margem Bruta | 86.8% | 86.0% | 83.5% | 82.5% | 84.9% | 85.2% | 82.7% | 81.9% | 82.0% | 80.3% |
| Margem Operacional | -0.2% | -0.1% | 0.7% | -2.6% | -3.1% | 5.4% | -2.0% | 9.0% | 7.4% | 8.9% |
| Margem EBITDA | 1.4% | 1.4% | 4.5% | 0.7% | -0.7% | 7.1% | -0.6% | 10.8% | 9.1% | 9.0% |
| Margem Líquida | 0.1% | -8.9% | 0.5% | -0.8% | -4.3% | 4.4% | -4.6% | 20.1% | 7.6% | 6.0% |
| Margem FCF | 14.5% | 11.0% | 14.6% | 12.7% | 16.0% | 22.5% | 21.3% | 23.8% | 20.5% | 20.0% |
| Taxa Efetiva de Imposto | 53.3% | -1668.6% | 65.8% | 55.0% | -45.8% | 22.6% | -132.9% | -102.0% | 6.1% | 23.3% |
Dados por Ação (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Ação | $2.01 | $1.70 | $2.18 | $1.86 | $2.48 | $3.67 | $3.74 | $4.43 | $4.51 | $5.31 |
| 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) | $44.7M | $45.2M | $45.8M | $45.8M | $46.7M | $45.4M | $44.7M | $43.9M | $43.9M | $44.0M |
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 | 56.13% |
| Retorno sobre capital investido | 5.11% |
| Retorno sobre ativos | 3.61% |
| Margem bruta | 80.88% |
| Margem operacional | 7.67% |
| Margem líquida | 5.62% |
Saúde financeira
| Dívida / Patrimônio | 17.63 |
| Liquidez corrente | 2.04 |
Índices Chave (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/L | 5080.00 | -41.75 | 844.53 | -337.33 | -97.73 | 89.66 | -70.92 | 26.09 | 90.67 | 48.38 |
| P/VP | 4.86 | 6.40 | 7.69 | 4.50 | 7.64 | 11.79 | 13.62 | 15.85 | 21.28 | 457.07 |
| P/V | 3.52 | 3.70 | 4.23 | 2.76 | 4.16 | 3.92 | 3.23 | 5.25 | 6.95 | 2.89 |
| Margem Bruta | 86.8% | 86.0% | 83.5% | 82.5% | 84.9% | 85.2% | 82.7% | 81.9% | 82.0% | 80.3% |
| Margem Operacional | -0.2% | -0.1% | 0.7% | -2.6% | -3.1% | 5.4% | -2.0% | 9.0% | 7.4% | 8.9% |
| Margem Líquida | 0.1% | -8.9% | 0.5% | -0.8% | -4.3% | 4.4% | -4.6% | 20.1% | 7.6% | 6.0% |