Demonstrações financeiras detalhadas de First United Corporation (FUNC): 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 United Corporation registou receitas de $119.2M no último exercício, com um CAGR de 5 anos de 9.2%. O lucro líquido atingiu $24.5M, com CAGR de 5 anos de 12.1%.
Margens dos últimos 12 meses: margem bruta 71.9%, margem operacional 26.9%, margem líquida 20.4%. O fluxo de caixa livre cresceu a CAGR de 1.1% em 5 anos.
Ao preço atual de $43.50, FUNC negocia a um P/L de 11.32 e um ROE de 12.22%. A capitalização de mercado é de $281M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $60.5M | $61.3M | $67.5M | $74.7M | $76.9M | $78.6M | $80.4M | $95.6M | $111.8M | $119.2M |
| Custo da Receita | $11.3M | $9.9M | $10.2M | $12.8M | $15.1M | $4.9M | $4.2M | $25.9M | $34.9M | $35.5M |
| Lucro Bruto | $49.2M | $51.4M | $57.3M | $61.9M | $61.9M | $73.7M | $76.3M | $69.7M | $76.9M | $83.7M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $22.1M | $23.4M | $25.3M | $25.5M | $23.1M | $26.5M | $26.4M | $30.4M | $30.8M | $35.1M |
| Despesas Operacionais | $39.1M | $39.2M | $43.9M | $45.4M | $44.1M | $47.4M | $43.1M | $50.3M | $49.6M | $51.2M |
| Lucro Operacional | $10.1M | $12.2M | $13.4M | $16.5M | $17.8M | $26.3M | $33.2M | $19.5M | $27.2M | $32.5M |
| EBITDA | $11.8M | $14.1M | $15.9M | $19.9M | $21.3M | $29.7M | $36.8M | $24.4M | $31.0M | $35.6M |
| Despesas com Juros | $8.2M | $7.4M | $8.1M | $11.5M | $9.7M | $5.7M | $4.8M | $24.3M | $32.0M | $32.7M |
| Lucro Antes de Impostos | $10.1M | $12.2M | $13.4M | $16.5M | $17.8M | $26.3M | $33.2M | $19.5M | $27.2M | $32.5M |
| Imposto | $2.8M | $6.9M | $2.8M | $3.3M | $3.9M | $6.5M | $8.1M | $4.4M | $6.7M | $8.0M |
| Lucro Líquido | $7.3M | $5.3M | $10.7M | $13.1M | $13.8M | $19.8M | $25.0M | $15.1M | $20.6M | $24.5M |
| LPA | $0.84 | $0.58 | $1.51 | $1.85 | $2.04 | $2.95 | $3.77 | $2.25 | $3.15 | $3.78 |
| LPA Diluído | $0.84 | $0.58 | $1.51 | $1.85 | $2.04 | $2.94 | $3.76 | $2.25 | $3.15 | $3.77 |
| Ações em Circulação (Diluídas) | $6.3M | $6.9M | $7.1M | $7.1M | $7.0M | $6.7M | $6.7M | $6.7M | $6.5M | $6.5M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $31.1M | $29.5M | $30.9M | $31.5M |
| Lucro Bruto | $22.2M | $20.6M | $22.4M | $23.1M |
| Lucro Operacional | $9.2M | $7.6M | $8.8M | $7.4M |
| EBITDA | $10.0M | $8.3M | $9.6M | $7.4M |
| Lucro Líquido | $6.9M | $5.8M | $6.7M | $5.7M |
| LPA | $1.07 | $0.89 | $1.03 | $0.88 |
| LPA Diluído | $1.07 | $0.89 | $1.03 | $0.87 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $63.3M | $83.8M | $23.5M | $50.0M | $149.4M | $115.7M | $74.3M | $49.8M | $78.3M | $131.6M |
| Investimentos de Curto Prazo | $140.0M | $146.5M | $137.6M | $131.3M | $226.9M | $286.8M | $125.9M | $97.2M | $71.6M | $20.0M |
| Contas a Receber | $21.1M | $21.4M | $20.5M | $16.1M | $13.7M | $13.5M | $6.1M | $7.5M | $7.5M | $7.9M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $224.4M | $251.7M | $181.6M | $197.3M | $390.0M | $416.0M | $206.3M | $154.4M | $157.4M | $159.6M |
| Imobilizado | $27.2M | $30.9M | $37.9M | $41.4M | $39.3M | $36.9M | $36.8M | $32.8M | $31.3M | $30.7M |
| Ágio | $11.0M | $11.0M | $11.0M | $11.0M | $11.0M | $12.1M | $12.4M | $11.0M | $11.0M | $11.4M |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $1.1M | $769000 | 0 |
| Ativos Totais | $1.32B | $1.34B | $1.38B | $1.44B | $1.73B | $1.73B | $1.85B | $1.91B | $1.97B | $2.09B |
| Contas a Pagar | $22.5M | $18.9M | $19.9M | $20.2M | $16.7M | $15.8M | $151000 | $612000 | $489000 | $953000 |
| Dívida de Curto Prazo | $36.0M | $48.8M | $77.7M | $48.7M | $49.2M | $57.7M | $64.6M | $45.4M | $65.4M | $17.7M |
| Passivos Circulantes | $1.07B | $1.11B | $1.15B | $1.19B | $1.49B | $1.54B | $1.64B | $1.60B | $1.64B | $1.76B |
| Dívida de Longo Prazo | $131.7M | $120.9M | $100.9M | $100.9M | $100.9M | $30.9M | $30.9M | $110.9M | $120.9M | $95.9M |
| Passivos Totais | $1.20B | $1.23B | $1.27B | $1.32B | $1.60B | $1.59B | $1.70B | $1.74B | $1.79B | $1.88B |
| Reservas | $92.9M | $101.4M | $109.5M | $119.5M | $129.7M | $145.5M | $166.3M | $173.9M | $189.0M | $207.3M |
| Patrimônio Líquido | $113.7M | $108.4M | $117.1M | $125.9M | $131.0M | $141.9M | $151.8M | $161.9M | $179.3M | $203.6M |
| Dívida Total | $167.7M | $169.8M | $178.6M | $152.9M | $153.0M | $91.4M | $97.9M | $157.9M | $187.7M | $114.8M |
| Dívida Líquida | -$35.6M | -$60.4M | $17.5M | -$28.4M | -$223.3M | -$311.1M | -$102.3M | $11.0M | $37.8M | -$36.9M |
| Capital de Giro | -$848.3M | -$855.5M | -$964.2M | -$994.3M | -$1.10B | -$1.13B | -$1.43B | -$1.44B | -$1.48B | -$1.60B |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $95.2M | $131.6M | $89.8M | $84.2M |
| Ativos Totais | $2.02B | $2.09B | $2.04B | $2.08B |
| Passivos Totais | $1.82B | $1.88B | $1.83B | $1.87B |
| Patrimônio Líquido | $199.1M | $203.6M | $205.3M | $212.4M |
| Dívida Total | $117.3M | $114.8M | $51.6M | $101.2M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $7.3M | $5.3M | $10.7M | $13.1M | $13.8M | $19.8M | $25.0M | $15.1M | $20.6M | $24.5M |
| Depreciação e Amortização | $1.7M | $1.9M | $2.4M | $3.4M | $3.6M | $3.4M | $3.6M | $4.9M | $3.8M | $2.9M |
| Compensação em Ações | $192000 | $192000 | $249000 | $268000 | $345000 | $472000 | $532000 | $527000 | $483000 | $760000 |
| Variação Capital de Giro | -$1.1M | -$4.3M | $2.2M | $897000 | -$1.8M | -$1.3M | -$89000 | $1.3M | -$1.8M | -$11.0M |
| Fluxo de Caixa Operacional | $11.5M | $12.9M | $18.3M | $16.4M | $16.2M | $20.0M | $26.5M | $22.5M | $22.3M | $19.4M |
| CapEx | -$3.9M | -$6.6M | -$9.5M | -$4.0M | -$1.6M | -$1.1M | -$3.6M | -$353000 | -$1.9M | -$4.0M |
| Aquisições | 0 | 0 | 0 | 0 | 0 | 0 | -$600000 | 0 | 0 | 0 |
| Recompra de Ações | -$10.0M | 0 | 0 | 0 | -$2.8M | -$7.2M | 0 | -$1.5M | -$4.0M | 0 |
| Dividendos Pagos | -$2.0M | -$1.2M | -$1.9M | -$3.1M | -$3.6M | -$3.9M | -$4.0M | -$5.2M | -$5.4M | -$6.0M |
| Fluxo de Caixa Livre | $7.6M | $6.4M | $8.8M | $12.4M | $14.6M | $18.9M | $23.0M | $22.1M | $20.4M | $15.4M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $1.5M | $9.9M | $13.9M | $4.8M |
| CapEx | -$1.3M | -$1.5M | -$908000 | -$146000 |
| Fluxo de Caixa Livre | $168000 | $8.4M | $13.0M | $4.7M |
| Dividendos Pagos | -$1.4M | -$1.7M | -$1.7M | -$1.7M |
| Compensação em Ações | $93000 | $172000 | -$109000 | $434000 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +1.3% | +10.2% | +10.6% | +3.0% | +2.2% | +2.3% | +18.9% | +16.9% | +6.6% |
| Crescimento Lucro Líquido (anual) | | -27.6% | +102.4% | +23.1% | +5.4% | +42.8% | +26.7% | -39.9% | +36.6% | +19.2% |
| Crescimento LPA (anual) | | -31.0% | +160.3% | +22.5% | +10.3% | +44.6% | +27.8% | -40.3% | +40.0% | +20.0% |
| Variação de Ações (anual) | | +10.7% | +2.1% | +0.3% | -1.2% | -4.2% | -0.8% | +0.6% | -2.4% | -0.6% |
| Crescimento FCF (anual) | | -15.9% | +38.5% | +40.9% | +17.3% | +29.7% | +21.6% | -3.7% | -8.0% | -24.3% |
| Margem Bruta | 81.3% | 83.8% | 84.9% | 82.8% | 80.4% | 93.8% | 94.8% | 73.0% | 68.8% | 70.2% |
| Margem Operacional | 16.6% | 19.9% | 19.9% | 22.0% | 23.1% | 33.5% | 41.2% | 20.4% | 24.4% | 27.3% |
| Margem EBITDA | 19.4% | 23.0% | 23.5% | 26.6% | 27.7% | 37.8% | 45.8% | 25.5% | 27.7% | 29.9% |
| Margem Líquida | 12.0% | 8.6% | 15.8% | 17.6% | 18.0% | 25.1% | 31.1% | 15.8% | 18.4% | 20.6% |
| Margem FCF | 12.5% | 10.4% | 13.0% | 16.6% | 18.9% | 24.0% | 28.6% | 23.1% | 18.2% | 12.9% |
| Taxa Efetiva de Imposto | 27.7% | 56.9% | 20.6% | 20.3% | 22.2% | 24.9% | 24.5% | 22.7% | 24.5% | 24.6% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.21 | $0.92 | $1.24 | $1.75 | $2.08 | $2.81 | $3.45 | $3.30 | $3.11 | $2.37 |
| Dividendo por Ação | $0.32 | $0.18 | $0.27 | $0.44 | $0.52 | $0.58 | $0.60 | $0.78 | $0.82 | $0.92 |
| Ações em Circulação (Básicas) | $6.3M | $6.9M | $7.1M | $7.1M | $7.0M | $6.7M | $6.7M | $6.7M | $6.5M | $6.5M |
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 | 12.22% |
| Retorno sobre capital investido | 7.98% |
| Retorno sobre ativos | 1.20% |
| Margem bruta | 71.87% |
| Margem operacional | 26.93% |
| Margem líquida | 20.38% |
Saúde financeira
| Dívida / Patrimônio | 0.48 |
| Liquidez corrente | 0.22 |
| Piotroski F-Score | 7 |
| Altman Z-Score | -0.59 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 18.99 | 30.00 | 10.54 | 13.02 | 7.60 | 6.36 | 5.21 | 10.45 | 10.70 | 9.90 |
| P/VP | 0.88 | 1.11 | 0.96 | 1.36 | 0.83 | 0.89 | 0.86 | 0.97 | 1.23 | 1.19 |
| P/V | 1.65 | 1.97 | 1.67 | 2.29 | 1.41 | 1.60 | 1.62 | 1.64 | 1.97 | 2.04 |
| Margem Bruta | 81.3% | 83.8% | 84.9% | 82.8% | 80.4% | 93.8% | 94.8% | 73.0% | 68.8% | 70.2% |
| Margem Operacional | 16.6% | 19.9% | 19.9% | 22.0% | 23.1% | 33.5% | 41.2% | 20.4% | 24.4% | 27.3% |
| Margem Líquida | 12.0% | 8.6% | 15.8% | 17.6% | 18.0% | 25.1% | 31.1% | 15.8% | 18.4% | 20.6% |