Demonstrações financeiras detalhadas de DoubleVerify Holdings, Inc. (DV): 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
DoubleVerify Holdings, Inc. registou receitas de $748.3M no último exercício, com um CAGR de 5 anos de 25.1%. O lucro líquido atingiu $50.6M, com CAGR de 5 anos de 19.9%.
Margens dos últimos 12 meses: margem bruta 80.4%, margem operacional 12.7%, margem líquida 7.7%. O fluxo de caixa livre cresceu a CAGR de 73.8% em 5 anos.
Ao preço atual de $13.49, DV negocia a um P/L de 36.46 e um ROE de 5.37%. A capitalização de mercado é de $2.1B.
Demonstração de Resultados (10 anos)
| Ano | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $104.3M | $182.7M | $243.9M | $332.7M | $452.4M | $572.5M | $656.8M | $748.3M |
| Custo da Receita | $18.5M | $24.8M | $35.8M | $54.4M | $77.9M | $106.6M | $116.5M | $133.5M |
| Lucro Bruto | $85.8M | $157.8M | $208.2M | $278.4M | $374.6M | $465.9M | $540.3M | $614.8M |
| P&D | $24.2M | $31.6M | $47.0M | $62.7M | $95.1M | $125.4M | $153.0M | $178.4M |
| Despesas Gerais e Administrativas | $37.9M | $65.3M | $115.2M | $158.7M | $186.1M | $213.9M | $259.7M | $300.6M |
| Despesas Operacionais | $80.7M | $118.7M | $186.8M | $251.7M | $315.5M | $380.2M | $457.9M | $535.6M |
| Lucro Operacional | $5.1M | $39.1M | $21.4M | $26.7M | $59.0M | $85.7M | $82.4M | $79.2M |
| EBITDA | $23.7M | $62.4M | $46.8M | $57.3M | $94.6M | $137.8M | $135.1M | $141.0M |
| Despesas com Juros | $3.1M | $5.2M | $4.9M | $1.2M | $905000 | $1.1M | $1.1M | $1.7M |
| Lucro Antes de Impostos | $2.0M | $35.4M | $17.3M | $25.8M | $59.4M | $95.9M | $88.8M | $82.7M |
| Imposto | -$1.2M | $12.1M | -$3.1M | -$3.5M | $16.1M | $24.4M | $32.6M | $32.1M |
| Lucro Líquido | $3.2M | $23.3M | $20.5M | $29.3M | $43.3M | $71.5M | $56.2M | $50.6M |
| LPA | $0.02 | $0.15 | $0.13 | $0.18 | $0.26 | $0.43 | $0.33 | $0.31 |
| LPA Diluído | $0.02 | $0.15 | $0.13 | $0.18 | $0.25 | $0.41 | $0.32 | $0.30 |
| Ações em Circulação (Diluídas) | $155.3M | $156.7M | $156.7M | $162.3M | $170.8M | $173.4M | $175.1M | $166.7M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $188.6M | $205.6M | $180.8M | $193.8M |
| Lucro Bruto | $155.2M | $169.6M | $132.3M | $161.3M |
| Lucro Operacional | $21.1M | $37.8M | $15.6M | $23.0M |
| EBITDA | $36.2M | $52.1M | $30.0M | $39.0M |
| Lucro Líquido | $10.2M | $29.3M | $6.4M | $12.9M |
| LPA | $0.06 | $0.19 | $0.04 | $0.08 |
| LPA Diluído | $0.06 | $0.18 | $0.04 | $0.08 |
Balanço (10 anos)
| Ano | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $30.0M | $10.9M | $33.4M | $221.6M | $267.8M | $310.1M | $292.8M | $259.0M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | $17.8M | 0 |
| Contas a Receber | $38.1M | $68.7M | $94.7M | $122.9M | $167.1M | $206.9M | $226.2M | $221.2M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $71.4M | $85.2M | $141.9M | $367.8M | $445.1M | $533.0M | $559.1M | $519.3M |
| Imobilizado | $10.5M | $10.3M | $9.7M | $17.6M | $111.7M | $118.5M | $137.9M | $170.2M |
| Ágio | $174.2M | $227.3M | $227.3M | $350.6M | $343.0M | $436.0M | $427.6M | $516.0M |
| Ativos Intangíveis | $145.1M | $142.8M | $130.1M | $153.4M | $135.4M | $140.9M | $110.4M | $101.6M |
| Ativos Totais | $401.5M | $466.3M | $511.3M | $892.2M | $1.04B | $1.24B | $1.28B | $1.35B |
| Contas a Pagar | $1.2M | $1.1M | $3.5M | $3.9M | $6.7M | $12.9M | $11.6M | $14.7M |
| Dívida de Curto Prazo | $280000 | $471000 | 0 | 0 | 0 | 0 | $13.6M | 0 |
| Passivos Circulantes | $15.3M | $32.0M | $34.0M | $57.0M | $68.9M | $83.9M | $103.5M | $121.6M |
| Dívida de Longo Prazo | $53.4M | $72.7M | $22.0M | 0 | 0 | 0 | 0 | 0 |
| Passivos Totais | $108.6M | $148.3M | $94.6M | $93.1M | $160.2M | $169.1M | $192.8M | $222.8M |
| Reservas | $11.2M | $34.5M | $54.9M | $84.2M | $127.5M | $199.0M | $255.2M | $305.9M |
| Patrimônio Líquido | $292.9M | $318.0M | $416.7M | $799.1M | $876.9M | $1.07B | $1.08B | $1.13B |
| Dívida Total | $58.6M | $78.1M | $27.0M | $4.5M | $83.8M | $86.4M | $91.7M | $99.6M |
| Dívida Líquida | $28.6M | $67.2M | -$6.4M | -$217.0M | -$184.1M | -$223.7M | -$219.0M | -$159.5M |
| Capital de Giro | $56.1M | $53.2M | $107.9M | $310.8M | $376.2M | $449.1M | $455.6M | $397.8M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $200.7M | $259.0M | $173.8M | $210.2M |
| Ativos Totais | $1.30B | $1.35B | $1.27B | $1.31B |
| Passivos Totais | $219.6M | $222.8M | $193.1M | $215.6M |
| Patrimônio Líquido | $1.08B | $1.13B | $1.08B | $1.09B |
| Dívida Total | $103.1M | $99.6M | $95.5M | $111.8M |
Fluxo de Caixa (10 anos)
| Ano | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $3.2M | $23.3M | $20.5M | $29.3M | $43.3M | $71.5M | $56.2M | $50.6M |
| Depreciação e Amortização | $18.6M | $21.8M | $24.6M | $30.3M | $34.3M | $40.9M | $45.2M | $56.6M |
| Compensação em Ações | $1.4M | $1.7M | 0 | $21.9M | $42.3M | $59.2M | $90.7M | $104.2M |
| Variação Capital de Giro | -$11.1M | -$22.2M | -$33.4M | -$13.4M | -$21.2M | -$43.3M | -$26.8M | -$17.0M |
| Fluxo de Caixa Operacional | $12.1M | $29.4M | $20.6M | $82.7M | $94.9M | $119.7M | $159.7M | $211.2M |
| CapEx | -$1.6M | -$5.9M | -$9.8M | -$9.4M | -$40.0M | -$17.0M | -$27.1M | -$38.5M |
| Aquisições | -$11.3M | -$57.3M | 0 | -$149.2M | 0 | -$67.2M | 0 | -$82.6M |
| Recompra de Ações | 0 | 0 | -$260.7M | -$1.8M | -$10.2M | -$4.6M | -$133.8M | -$142.1M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $10.4M | $23.5M | $10.9M | $73.4M | $54.9M | $102.7M | $132.5M | $172.7M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $51.2M | $72.7M | $4.2M | $80.4M |
| CapEx | -$12.1M | -$10.6M | -$10.5M | -$21.1M |
| Fluxo de Caixa Livre | $39.0M | $62.1M | -$6.4M | $59.4M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $27.4M | $25.5M | $24.2M | $49.8M |
Crescimento e Margens (10 anos)
| Ano | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +75.1% | +33.5% | +36.4% | +36.0% | +26.6% | +14.7% | +13.9% |
| Crescimento Lucro Líquido (anual) | | +633.6% | -12.2% | +43.3% | +47.6% | +65.2% | -21.3% | -9.9% |
| Crescimento LPA (anual) | | +631.7% | -13.3% | +38.5% | +44.4% | +65.4% | -23.3% | -6.1% |
| Variação de Ações (anual) | | +0.9% | +0.0% | +3.6% | +5.2% | +1.6% | +0.9% | -4.8% |
| Crescimento FCF (anual) | | +125.5% | -53.6% | +573.7% | -25.2% | +87.2% | +29.0% | +30.3% |
| Margem Bruta | 82.2% | 86.4% | 85.3% | 83.7% | 82.8% | 81.4% | 82.3% | 82.2% |
| Margem Operacional | 4.9% | 21.4% | 8.8% | 8.0% | 13.0% | 15.0% | 12.5% | 10.6% |
| Margem EBITDA | 22.7% | 34.1% | 19.2% | 17.2% | 20.9% | 24.1% | 20.6% | 18.8% |
| Margem Líquida | 3.0% | 12.8% | 8.4% | 8.8% | 9.6% | 12.5% | 8.6% | 6.8% |
| Margem FCF | 10.0% | 12.9% | 4.5% | 22.0% | 12.1% | 17.9% | 20.2% | 23.1% |
| Taxa Efetiva de Imposto | -60.5% | 34.1% | -18.2% | -13.5% | 27.1% | 25.5% | 36.7% | 38.8% |
Dados por Ação (10 anos)
| Ano | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.07 | $0.15 | $0.07 | $0.45 | $0.32 | $0.59 | $0.76 | $1.04 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $155.3M | $156.7M | $156.7M | $162.3M | $163.9M | $167.8M | $170.5M | $162.8M |
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 | 5.37% |
| Retorno sobre capital investido | 4.98% |
| Retorno sobre ativos | 4.49% |
| Margem bruta | 80.44% |
| Margem operacional | 12.69% |
| Margem líquida | 7.66% |
Saúde financeira
| Dívida / Patrimônio | 0.10 |
| Liquidez corrente | 4.50 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 6.43 |
Índices Chave (10 anos)
| Ano | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 1756.10 | 240.00 | 276.92 | 184.89 | 84.46 | 85.53 | 58.21 | 36.90 |
| P/VP | 19.09 | 17.74 | 13.54 | 6.76 | 4.10 | 5.75 | 3.02 | 1.65 |
| P/V | 53.61 | 30.88 | 23.12 | 16.23 | 7.95 | 10.78 | 4.99 | 2.49 |
| Margem Bruta | 82.2% | 86.4% | 85.3% | 83.7% | 82.8% | 81.4% | 82.3% | 82.2% |
| Margem Operacional | 4.9% | 21.4% | 8.8% | 8.0% | 13.0% | 15.0% | 12.5% | 10.6% |
| Margem Líquida | 3.0% | 12.8% | 8.4% | 8.8% | 9.6% | 12.5% | 8.6% | 6.8% |