Demonstrações financeiras detalhadas de Deswell Industries, Inc. (DSWL): 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
Deswell Industries, Inc. registou receitas de $61.3M no último exercício, com um CAGR de 5 anos de -1.1%. O lucro líquido atingiu $10.6M, com CAGR de 5 anos de 5.2%.
Margens dos últimos 12 meses: margem bruta 22.4%, margem operacional 3.5%, margem líquida 17.3%. O fluxo de caixa livre cresceu a CAGR de 11.4% em 5 anos.
Ao preço atual de $3.10, DSWL negocia a um P/L de 4.63 e um ROE de 9.71%. A capitalização de mercado é de $49M.
Demonstração de Resultados (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Receita | $44.5M | $60.7M | $66.6M | $65.4M | $64.9M | $85.5M | $77.5M | $69.4M | $67.6M | $61.3M |
| Custo da Receita | $37.1M | $51.0M | $56.3M | $53.5M | $51.7M | $71.5M | $64.7M | $55.5M | $54.0M | $47.6M |
| Lucro Bruto | $7.4M | $9.7M | $10.3M | $11.9M | $13.2M | $14.0M | $12.8M | $13.9M | $13.6M | $13.7M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $8.9M | $8.8M | $9.5M | $10.0M | $10.3M | $11.1M | $11.0M | $10.5M | $11.3M | $11.6M |
| Despesas Operacionais | $9.6M | $7.9M | $9.6M | $10.5M | $9.9M | $11.1M | $10.0M | $10.1M | $11.2M | $11.6M |
| Lucro Operacional | -$2.1M | $1.8M | -$1.6M | $1.4M | $3.3M | $2.8M | $2.9M | $3.8M | $2.4M | $2.2M |
| EBITDA | $555000 | $4.1M | $2.8M | $3.5M | $10.5M | $9.8M | $4.8M | $9.3M | $3.9M | $3.6M |
| Despesas com Juros | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Lucro Antes de Impostos | $1.6M | $6.2M | $4.4M | -$947000 | $8.7M | $8.1M | $2.3M | $7.8M | $11.3M | $10.3M |
| Imposto | $209000 | $7000 | $144000 | $373000 | $475000 | -$165000 | $255000 | $110000 | $162000 | -$363000 |
| Lucro Líquido | $1.4M | $6.2M | $4.3M | -$1.3M | $8.2M | $8.2M | $2.1M | $7.7M | $11.1M | $10.6M |
| LPA | $0.09 | $0.39 | $0.27 | $-0.08 | $0.52 | $0.52 | $0.13 | $0.48 | $0.70 | $0.67 |
| LPA Diluído | $0.09 | $0.39 | $0.27 | $-0.08 | $0.51 | $0.51 | $0.13 | $0.48 | $0.70 | $0.67 |
| Ações em Circulação (Diluídas) | $16.0M | $16.0M | $16.1M | $15.9M | $16.0M | $16.1M | $16.1M | $16.0M | $16.0M | $15.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2024-Q3 | 2025-Q1 | 2025-Q3 | 2026-Q1 |
|---|
| Receita | $35.2M | $32.4M | $33.2M | $28.1M |
| Lucro Bruto | $6.9M | $6.8M | $7.8M | $5.9M |
| Lucro Operacional | $1.8M | $1.5M | $2.4M | -$191000 |
| EBITDA | $2.6M | $1.4M | $8.4M | -$191000 |
| Lucro Líquido | $6.2M | $5.0M | $7.5M | $3.1M |
| LPA | $0.38 | $0.31 | $0.47 | $0.20 |
| LPA Diluído | $0.38 | $0.31 | $0.47 | $0.20 |
Balanço (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caixa e Equivalentes | $8.1M | $15.2M | $14.4M | $22.5M | $20.2M | $13.5M | $22.2M | $15.8M | $28.1M | $23.1M |
| Investimentos de Curto Prazo | $21.7M | $17.3M | $24.8M | $20.2M | $25.1M | $30.4M | $24.8M | $42.2M | $47.4M | $59.3M |
| Contas a Receber | $13.2M | $16.1M | $16.2M | $12.3M | $15.2M | $18.3M | $15.7M | $12.2M | $10.1M | $11.4M |
| Estoque | $10.7M | $12.9M | $13.0M | $8.6M | $16.2M | $23.8M | $17.3M | $12.1M | $9.5M | $11.8M |
| Ativos Circulantes | $56.1M | $68.9M | $70.0M | $65.4M | $78.7M | $88.0M | $81.2M | $83.3M | $96.5M | $106.9M |
| Imobilizado | $32.0M | $31.5M | $30.2M | $28.6M | $27.3M | $27.0M | $26.1M | $24.6M | $23.4M | $22.3M |
| Ágio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | 0 | $15.7M | 0 | 0 | 0 |
| Ativos Totais | $91.0M | $100.4M | $100.2M | $95.4M | $107.9M | $115.5M | $110.4M | $111.1M | $120.2M | $130.0M |
| Contas a Pagar | $5.2M | $8.6M | $6.3M | $4.6M | $9.5M | $9.8M | $6.9M | $5.2M | $5.7M | $6.8M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Circulantes | $14.8M | $19.1M | $15.5M | $14.3M | $21.2M | $24.0M | $20.2M | $16.4M | $17.7M | $20.4M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Totais | $14.8M | $19.1M | $16.2M | $15.1M | $22.2M | $24.6M | $20.7M | $16.9M | $18.1M | $20.6M |
| Reservas | $12.6M | $17.7M | $20.4M | $16.7M | $22.1M | $27.2M | $26.0M | $30.5M | $38.5M | $45.9M |
| Patrimônio Líquido | $76.2M | $81.3M | $84.0M | $80.3M | $85.7M | $90.9M | $89.6M | $94.2M | $102.1M | $109.4M |
| Dívida Total | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dívida Líquida | -$29.8M | -$32.5M | -$39.2M | -$42.7M | -$45.3M | -$43.9M | -$47.0M | -$57.9M | -$75.5M | -$82.3M |
| Capital de Giro | $41.3M | $49.8M | $54.4M | $51.1M | $57.5M | $64.0M | $60.9M | $66.8M | $78.8M | $86.5M |
Balanço (Trimestral)
| Ano | 2024-Q3 | 2025-Q1 | 2025-Q3 | 2026-Q1 |
|---|
| Caixa e Equivalentes | $13.4M | $28.1M | $23.4M | $23.1M |
| Ativos Totais | $120.5M | $120.2M | $128.2M | $130.0M |
| Passivos Totais | $21.7M | $18.1M | $20.2M | $20.6M |
| Patrimônio Líquido | $98.8M | $102.1M | $108.0M | $109.4M |
| Dívida Total | 0 | 0 | 0 | 0 |
Fluxo de Caixa (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Lucro Líquido | $1.4M | $6.2M | $4.3M | -$1.3M | $8.2M | $8.2M | $2.1M | $7.7M | $11.1M | $10.6M |
| Depreciação e Amortização | $2.1M | $2.1M | $2.1M | $2.0M | $1.8M | $1.7M | $1.7M | $1.5M | $1.5M | $1.5M |
| Compensação em Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Variação Capital de Giro | -$3.1M | -$20000 | -$3.1M | $6.2M | -$4.2M | -$7.6M | $6.1M | $5.0M | $5.8M | -$247000 |
| Fluxo de Caixa Operacional | -$1.1M | $5.7M | $2.2M | $13.1M | $3.3M | -$183000 | $13.0M | $13.2M | $13.5M | $5.2M |
| CapEx | -$2.2M | -$1.7M | -$878000 | -$507000 | -$551000 | -$1.5M | -$792000 | -$381000 | -$332000 | -$481000 |
| Aquisições | $993000 | $6000 | $25000 | $188000 | $81000 | $50000 | $67000 | $232000 | $69000 | $85000 |
| Recompra de Ações | -$308000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$169000 |
| Dividendos Pagos | -$2.2M | -$1.1M | -$1.6M | -$2.4M | -$2.9M | -$3.2M | -$3.2M | -$3.2M | -$3.2M | -$3.2M |
| Fluxo de Caixa Livre | -$3.2M | $4.0M | $1.3M | $12.6M | $2.7M | -$1.7M | $12.2M | $12.8M | $13.2M | $4.7M |
Fluxo de Caixa (Trimestral)
| Ano | 2024-Q3 | 2025-Q1 | 2025-Q3 | 2026-Q1 |
|---|
| Fluxo de Caixa Operacional | $3.7M | $9.8M | $2.2M | $3.0M |
| CapEx | -$129000 | -$203000 | -$326000 | -$154999 |
| Fluxo de Caixa Livre | $3.6M | $9.6M | $1.9M | $2.8M |
| Dividendos Pagos | -$1.6M | -$1.6M | -$1.6M | -$1.6M |
| Compensação em Ações | 0 | 0 | 0 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crescimento Receita (anual) | | +36.3% | +9.7% | -1.8% | -0.7% | +31.8% | -9.3% | -10.5% | -2.5% | -9.3% |
| Crescimento Lucro Líquido (anual) | | +349.9% | -31.0% | -130.9% | +723.6% | +0.0% | -75.0% | +274.4% | +44.5% | -4.6% |
| Crescimento LPA (anual) | | +333.3% | -30.8% | -130.7% | +727.3% | +0.0% | -75.0% | +269.2% | +45.8% | -4.3% |
| Variação de Ações (anual) | | -0.3% | +0.5% | -0.9% | +0.8% | +0.5% | -0.4% | -0.5% | -0.3% | -0.2% |
| Crescimento FCF (anual) | | +223.4% | -67.7% | +879.3% | -78.2% | -161.5% | +823.5% | +5.1% | +2.9% | -64.3% |
| Margem Bruta | 16.7% | 16.0% | 15.4% | 18.1% | 20.3% | 16.3% | 16.6% | 20.0% | 20.2% | 22.4% |
| Margem Operacional | -4.7% | 3.0% | -2.5% | 2.2% | 5.0% | 3.2% | 3.7% | 5.5% | 3.6% | 3.5% |
| Margem EBITDA | 1.2% | 6.7% | 4.1% | 5.4% | 16.1% | 11.5% | 6.2% | 13.5% | 5.8% | 5.9% |
| Margem Líquida | 3.1% | 10.2% | 6.4% | -2.0% | 12.7% | 9.6% | 2.7% | 11.1% | 16.5% | 17.3% |
| Margem FCF | -7.3% | 6.6% | 1.9% | 19.3% | 4.2% | -2.0% | 15.7% | 18.5% | 19.5% | 7.7% |
| Taxa Efetiva de Imposto | 13.2% | 0.1% | 3.3% | -39.4% | 5.5% | -2.0% | 11.0% | 1.4% | 1.4% | -3.5% |
Dados por Ação (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Ação | $-0.20 | $0.25 | $0.08 | $0.79 | $0.17 | $-0.10 | $0.76 | $0.80 | $0.83 | $0.30 |
| Dividendo por Ação | $0.14 | $0.07 | $0.10 | $0.15 | $0.18 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 |
| Ações em Circulação (Básicas) | $16.0M | $15.9M | $15.9M | $15.9M | $15.9M | $15.9M | $15.9M | $15.9M | $15.9M | $15.9M |
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 | 9.71% |
| Retorno sobre capital investido | 1.98% |
| Retorno sobre ativos | 8.18% |
| Margem bruta | 22.37% |
| Margem operacional | 3.53% |
| Margem líquida | 17.33% |
Saúde financeira
| Dívida / Patrimônio | 0.00 |
| Liquidez corrente | 5.25 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 3.21 |
Índices Chave (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/L | 21.67 | 8.00 | 11.26 | -26.78 | 6.79 | 7.04 | 20.38 | 4.63 | 3.37 | 4.46 |
| P/VP | 0.41 | 0.61 | 0.58 | 0.44 | 0.66 | 0.64 | 0.47 | 0.38 | 0.37 | 0.44 |
| P/V | 0.70 | 0.82 | 0.73 | 0.54 | 0.87 | 0.68 | 0.54 | 0.51 | 0.56 | 0.78 |
| Margem Bruta | 16.7% | 16.0% | 15.4% | 18.1% | 20.3% | 16.3% | 16.6% | 20.0% | 20.2% | 22.4% |
| Margem Operacional | -4.7% | 3.0% | -2.5% | 2.2% | 5.0% | 3.2% | 3.7% | 5.5% | 3.6% | 3.5% |
| Margem Líquida | 3.1% | 10.2% | 6.4% | -2.0% | 12.7% | 9.6% | 2.7% | 11.1% | 16.5% | 17.3% |