Demonstrações financeiras detalhadas de First Foundation Inc. (FFWM): 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
First Foundation Inc. registou receitas de $588.4M no último exercício, com um CAGR de 5 anos de 15.1%.
Margens dos últimos 12 meses: margem bruta 24.2%, margem operacional -13.0%, margem líquida -28.1%.
Ao preço atual de $5.90, FFWM apresenta lucros negativos (P/L não significativo) e um ROE de -15.75%. A capitalização de mercado é de $489M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $133.5M | $168.5M | $228.0M | $272.7M | $291.1M | $308.9M | $413.9M | $546.2M | $481.5M | $588.4M |
| Custo da Receita | $15.9M | $25.9M | $55.9M | $81.4M | $54.0M | $17.8M | $85.7M | $370.9M | $449.1M | $417.9M |
| Lucro Bruto | $117.6M | $142.5M | $172.1M | $191.2M | $237.1M | $291.1M | $328.2M | $175.3M | $32.5M | $170.5M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $48.6M | $56.6M | $67.5M | $69.9M | $73.9M | $87.9M | $110.2M | $84.3M | $83.9M | $131.3M |
| Despesas Operacionais | $79.3M | $91.9M | $112.0M | $111.7M | $118.3M | $139.3M | $178.4M | $375.4M | $169.9M | $242.0M |
| Lucro Operacional | $38.3M | $50.6M | $60.1M | $79.5M | $118.8M | $151.8M | $149.8M | -$200.1M | -$137.4M | -$71.5M |
| EBITDA | $40.6M | $53.9M | $66.0M | $86.1M | $125.4M | $158.6M | $158.5M | -$191.9M | -$129.4M | -$63.9M |
| Despesas com Juros | $11.2M | $23.2M | $51.7M | $78.8M | $47.2M | $13.9M | $85.2M | $371.4M | $428.4M | $353.6M |
| Lucro Antes de Impostos | $38.3M | $50.6M | $60.1M | $79.5M | $118.8M | $151.8M | $149.8M | -$200.1M | -$137.4M | -$71.5M |
| Imposto | $15.0M | $23.0M | $17.1M | $23.3M | $34.4M | $42.3M | $39.3M | -$1.0M | -$45.0M | $83.6M |
| Lucro Líquido | $23.3M | $27.6M | $43.0M | $56.2M | $84.4M | $109.5M | $110.5M | -$199.1M | -$92.4M | -$155.2M |
| LPA | $0.72 | $0.80 | $1.02 | $1.26 | $1.89 | $2.42 | $1.96 | $-3.53 | $-1.41 | $-1.88 |
| LPA Diluído | $0.70 | $0.78 | $1.01 | $1.25 | $1.88 | $2.41 | $1.96 | $-3.53 | $-1.41 | $-1.88 |
| Ações em Circulação (Diluídas) | $33.5M | $35.3M | $42.6M | $44.9M | $44.9M | $44.9M | $56.5M | $56.4M | $65.6M | $82.5M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Receita | $146.3M | $125.5M | $143.2M | $136.3M |
| Lucro Bruto | $52.9M | $36.1M | -$10.5M | $54.9M |
| Lucro Operacional | $6.3M | -$10.9M | -$58.9M | -$8.0M |
| EBITDA | $8.4M | -$6.9M | -$57.0M | -$8.4M |
| Lucro Líquido | $6.9M | -$7.7M | -$146.3M | -$8.0M |
| LPA | $0.08 | $-0.09 | $-1.78 | $-0.10 |
| LPA Diluído | $0.08 | $-0.09 | $-1.78 | $-0.10 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $597.9M | $120.4M | $67.3M | $65.4M | $629.7M | $1.12B | $656.5M | $1.33B | $1.02B | $1.62B |
| Investimentos de Curto Prazo | $509.6M | $519.4M | $809.6M | $1.01B | $807.4M | $1.19B | $226.2M | $703.2M | $1.31B | $2.43B |
| Contas a Receber | 0 | 0 | 0 | 0 | 0 | 0 | $51.4M | $54.2M | $54.8M | $45.8M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $1.11B | $639.8M | $876.9M | $1.08B | $1.44B | $2.31B | $934.0M | $2.09B | $2.38B | $4.10B |
| Imobilizado | $6.7M | $6.6M | $9.1M | $8.4M | $8.0M | $37.9M | $36.1M | $39.9M | $35.8M | $34.7M |
| Ágio | 0 | $27.3M | 0 | 0 | 0 | 0 | $215.3M | 0 | 0 | 0 |
| Ativos Intangíveis | 0 | $6.3M | 0 | 0 | $95.3M | $222.1M | $6.6M | $4.9M | $3.6M | $2.4M |
| Ativos Totais | $3.98B | $4.54B | $5.84B | $6.31B | $6.96B | $10.20B | $13.01B | $13.33B | $12.65B | $11.90B |
| Contas a Pagar | $14.3M | $24.7M | $40.3M | $66.4M | $79.0M | $110.1M | $147.3M | 0 | 0 | 0 |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | $173.1M | $1.18B | $515.8M | $431.8M | $24.8M |
| Passivos Circulantes | $2.44B | $3.47B | $4.57B | $4.96B | $5.99B | $8.92B | $10.51B | $10.69B | $9.87B | $24.8M |
| Dívida de Longo Prazo | $1.25B | $678.0M | $708.0M | $743.0M | $269.0M | $210.1M | $1.37B | $1.58B | $1.60B | $1.60B |
| Passivos Totais | $3.69B | $4.15B | $5.28B | $5.70B | $6.26B | $9.13B | $11.88B | $12.40B | $11.59B | $10.99B |
| Reservas | $57.1M | $85.5M | $128.5M | $175.8M | $247.6M | $341.0M | $426.7M | $218.6M | $125.0M | -$30.1M |
| Patrimônio Líquido | $284.3M | $395.0M | $559.2M | $613.9M | $695.7M | $1.06B | $1.13B | $925.3M | $1.05B | $912.6M |
| Dívida Total | $1.25B | $678.0M | $708.0M | $743.0M | $269.0M | $210.1M | $1.37B | $1.58B | $1.60B | $1.60B |
| Dívida Líquida | $142.5M | $38.2M | -$168.9M | -$337.4M | -$1.17B | -$2.10B | $487.3M | -$447.4M | -$731.2M | -$2.45B |
| Capital de Giro | -$1.33B | -$2.83B | -$3.70B | -$3.88B | -$4.56B | -$6.61B | -$9.58B | -$8.60B | -$7.49B | $4.08B |
Balanço (Trimestral)
| Ano | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Caixa e Equivalentes | $1.01B | $1.06B | $1.73B | $1.62B |
| Ativos Totais | $12.59B | $11.59B | $11.91B | $11.90B |
| Passivos Totais | $11.53B | $10.54B | $10.99B | $10.99B |
| Patrimônio Líquido | $1.06B | $1.05B | $917.9M | $912.6M |
| Dívida Total | $1.85B | $1.84B | $1.60B | $1.60B |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $23.3M | $27.6M | $43.0M | $56.2M | $84.4M | $109.5M | $110.5M | -$199.1M | -$92.4M | -$155.2M |
| Depreciação e Amortização | $2.3M | $3.3M | $5.9M | $6.6M | $6.6M | $6.8M | $8.7M | $8.2M | $8.0M | $8.5M |
| Compensação em Ações | $899000 | $1.8M | $2.6M | $1.6M | $2.1M | $2.8M | $3.5M | $1.7M | $2.0M | $5.3M |
| Variação Capital de Giro | -$2.4M | $5.6M | $1.2M | $4.6M | -$26.3M | -$15.8M | -$22.7M | -$6.7M | $2.9M | -$26.5M |
| Fluxo de Caixa Operacional | $19.8M | $37.9M | $51.0M | $60.4M | $67.4M | $96.9M | $101.5M | $7.9M | -$8.8M | -$31.9M |
| CapEx | -$5.9M | -$2.2M | -$2.7M | -$2.2M | -$2.9M | -$3.2M | -$4.6M | -$8.2M | -$2.7M | -$3.3M |
| Aquisições | 0 | $91.0M | $47.6M | 0 | 0 | $1.15B | 0 | 0 | 0 | 0 |
| Recompra de Ações | 0 | 0 | -$497000 | -$23000 | -$2.8M | -$1.7M | -$4.6M | -$538000 | -$149000 | -$433000 |
| Dividendos Pagos | 0 | 0 | 0 | -$8.9M | -$12.5M | -$16.2M | -$24.8M | -$9.0M | -$1.1M | 0 |
| Fluxo de Caixa Livre | $13.8M | $35.6M | $48.3M | $58.2M | $64.6M | $93.7M | $96.9M | -$287000 | -$11.5M | -$35.2M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 |
|---|
| Fluxo de Caixa Operacional | -$552000 | -$16.3M | $9.2M | -$24.3M |
| CapEx | -$2.0M | -$422000 | -$620000 | -$4.4M |
| Fluxo de Caixa Livre | -$2.5M | -$16.7M | $8.6M | -$28.6M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $1.6M | $1.8M | $1.0M | $823000 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +26.2% | +35.3% | +19.6% | +6.8% | +6.1% | +34.0% | +32.0% | -11.8% | +22.2% |
| Crescimento Lucro Líquido (anual) | | +18.4% | +55.7% | +30.9% | +50.0% | +29.8% | +0.9% | -280.1% | +53.6% | -67.9% |
| Crescimento LPA (anual) | | +11.1% | +27.5% | +23.5% | +50.0% | +28.0% | -19.0% | -280.1% | +60.1% | -33.3% |
| Variação de Ações (anual) | | +5.6% | +20.5% | +5.5% | -0.0% | +0.0% | +25.8% | -0.1% | +16.3% | +25.8% |
| Crescimento FCF (anual) | | +157.6% | +35.5% | +20.6% | +10.9% | +45.1% | +3.4% | -100.3% | -3910.5% | -206.0% |
| Margem Bruta | 88.1% | 84.6% | 75.5% | 70.1% | 81.5% | 94.2% | 79.3% | 32.1% | 6.7% | 29.0% |
| Margem Operacional | 28.7% | 30.0% | 26.4% | 29.2% | 40.8% | 49.1% | 36.2% | -36.6% | -28.5% | -12.2% |
| Margem EBITDA | 30.4% | 32.0% | 28.9% | 31.6% | 43.1% | 51.4% | 38.3% | -35.1% | -26.9% | -10.9% |
| Margem Líquida | 17.5% | 16.4% | 18.8% | 20.6% | 29.0% | 35.5% | 26.7% | -36.4% | -19.2% | -26.4% |
| Margem FCF | 10.4% | 21.2% | 21.2% | 21.3% | 22.2% | 30.3% | 23.4% | -0.1% | -2.4% | -6.0% |
| Taxa Efetiva de Imposto | 39.2% | 45.5% | 28.5% | 29.3% | 29.0% | 27.9% | 26.2% | 0.5% | 32.7% | -116.9% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.41 | $1.01 | $1.13 | $1.30 | $1.44 | $2.09 | $1.72 | $-0.01 | $-0.18 | $-0.43 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.20 | $0.28 | $0.36 | $0.44 | $0.16 | $0.02 | $0.00 |
| Ações em Circulação (Básicas) | $32.4M | $34.5M | $42.1M | $44.6M | $44.6M | $44.6M | $56.4M | $56.4M | $65.6M | $82.5M |
O que olhar em empresas de Financial Services
- Efficiency Ratio (≤55%) — Despesas operacionais / receita. Bancos top abaixo de 55%.
- ROA (≥1%) — Quanto ganham por cada euro de ativos. ROE engana em bancos pela alavancagem.
- ROTCE (≥12%) — Rentabilidade sobre Capital Tangível. Exclui goodwill e intangíveis.
- Capital / Ativos (proxy Tier 1) (≥8%) — Proxy do rácio de capital. FMP não expõe Tier 1 regulatório direto.
- P/B (1,0-1,5x) — Métrica clássica bancária. <1x pode ser oportunidade ou distress.
- Dividend yield sustentável (≥2%, <8%) — Bancos UE pagam 5-7% sem stress. >8% é sinal de distress.
Rentabilidade
| Retorno sobre patrimônio | -15.75% |
| Retorno sobre capital investido | -1.73% |
| Retorno sobre ativos | -1.30% |
| Margem bruta | 24.19% |
| Margem operacional | -12.98% |
| Margem líquida | -28.15% |
Saúde financeira
| Dívida / Patrimônio | 1.76 |
| Liquidez corrente | 165.47 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 19.79 | 23.17 | 12.61 | 13.81 | 10.58 | 10.27 | 7.31 | -2.74 | -4.40 | -3.28 |
| P/VP | 1.62 | 1.62 | 0.97 | 1.26 | 1.28 | 1.04 | 0.71 | 0.59 | 0.39 | 0.56 |
| P/V | 3.45 | 3.79 | 2.37 | 2.85 | 3.07 | 3.59 | 1.95 | 1.00 | 0.85 | 0.86 |
| Margem Bruta | 88.1% | 84.6% | 75.5% | 70.1% | 81.5% | 94.2% | 79.3% | 32.1% | 6.7% | 29.0% |
| Margem Operacional | 28.7% | 30.0% | 26.4% | 29.2% | 40.8% | 49.1% | 36.2% | -36.6% | -28.5% | -12.2% |
| Margem Líquida | 17.5% | 16.4% | 18.8% | 20.6% | 29.0% | 35.5% | 26.7% | -36.4% | -19.2% | -26.4% |