Demonstrações financeiras detalhadas de German American Bancorp, Inc. (GABC): 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
German American Bancorp, Inc. registou receitas de $487.4M no último exercício, com um CAGR de 5 anos de 16.3%. O lucro líquido atingiu $112.6M, com CAGR de 5 anos de 12.6%.
Margens dos últimos 12 meses: margem bruta 75.5%, margem operacional 35.3%, margem líquida 28.2%. O fluxo de caixa livre cresceu a CAGR de 12.5% em 5 anos.
Ao preço atual de $49.18, GABC negocia a um P/L de 12.83 e um ROE de 12.17%. A capitalização de mercado é de $1.8B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $135.4M | $142.9M | $170.8M | $222.0M | $228.8M | $229.8M | $278.1M | $316.9M | $315.4M | $487.4M |
| Custo da Receita | $9.7M | $12.9M | $21.2M | $36.6M | $36.7M | $3.0M | $24.7M | $68.8M | $103.2M | $145.4M |
| Lucro Bruto | $125.7M | $130.0M | $149.6M | $185.4M | $192.2M | $226.8M | $253.4M | $248.1M | $212.2M | $342.0M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $47.8M | $51.1M | $55.8M | $68.6M | $72.4M | $74.2M | $90.4M | $90.9M | $89.1M | $116.7M |
| Despesas Operacionais | $76.6M | $77.8M | $93.6M | $114.2M | $117.1M | $124.0M | $154.2M | $144.5M | $108.1M | $201.9M |
| Lucro Operacional | $49.1M | $52.2M | $56.1M | $71.2M | $75.0M | $102.8M | $99.2M | $103.6M | $104.1M | $140.1M |
| EBITDA | $53.4M | $56.9M | $62.2M | $79.9M | $84.5M | $111.6M | $109.3M | $113.1M | $113.4M | $158.8M |
| Despesas com Juros | $8.5M | $11.1M | $19.1M | $31.2M | $19.1M | $9.5M | $18.3M | $66.2M | $100.5M | $126.0M |
| Lucro Antes de Impostos | $49.1M | $52.2M | $56.1M | $71.2M | $75.0M | $102.8M | $99.2M | $103.6M | $104.1M | $140.1M |
| Imposto | $13.9M | $11.5M | $9.5M | $12.0M | $12.8M | $18.6M | $17.4M | $17.8M | $20.3M | $27.4M |
| Lucro Líquido | $35.2M | $40.7M | $46.5M | $59.2M | $62.2M | $84.1M | $81.8M | $85.9M | $83.8M | $112.6M |
| LPA | $1.57 | $1.77 | $1.99 | $2.29 | $2.34 | $3.17 | $2.78 | $2.91 | $2.83 | $3.06 |
| LPA Diluído | $1.57 | $1.77 | $1.99 | $2.29 | $2.34 | $3.17 | $2.78 | $2.91 | $2.83 | $3.06 |
| Ações em Circulação (Diluídas) | $22.4M | $22.9M | $23.4M | $25.8M | $26.5M | $26.5M | $29.5M | $29.6M | $29.7M | $36.8M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $126.5M | $126.7M | $122.9M | $126.9M |
| Lucro Bruto | $93.5M | $93.8M | $94.1M | $98.5M |
| Lucro Operacional | $43.8M | $43.8M | $41.7M | $48.1M |
| EBITDA | $48.9M | $57.0M | $46.6M | $48.1M |
| Lucro Líquido | $35.1M | $35.7M | $33.2M | $38.2M |
| LPA | $0.94 | $0.95 | $0.88 | $1.02 |
| LPA Diluído | $0.94 | $0.95 | $0.88 | $1.02 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $48.5M | $47.3M | $64.5M | $62.0M | $59.2M | $47.9M | $76.0M | $79.3M | $69.7M | $71.9M |
| Investimentos de Curto Prazo | $709.8M | $740.6M | $812.6M | $854.8M | $1.22B | $1.89B | $1.76B | $1.60B | $1.06B | $1.16B |
| Contas a Receber | $25.9M | $30.5M | $35.3M | $44.2M | $44.0M | $43.5M | $124.0M | 0 | 0 | 0 |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $784.2M | $818.4M | $912.7M | $961.0M | $1.32B | $1.98B | $1.96B | $1.68B | $1.12B | $1.23B |
| Imobilizado | $48.2M | $54.2M | $80.6M | $96.7M | $96.6M | $88.9M | $112.2M | $106.8M | $104.0M | $139.0M |
| Ágio | $54.1M | $54.1M | $103.7M | $121.3M | $122.0M | $121.8M | $180.4M | $180.4M | $179.0M | $375.5M |
| Ativos Intangíveis | $2.8M | $2.1M | $10.0M | $12.7M | $9.0M | $5.8M | $9.4M | $6.3M | $4.0M | $33.8M |
| Ativos Totais | $2.96B | $3.14B | $3.93B | $4.40B | $4.98B | $5.61B | $6.16B | $6.15B | $6.30B | $8.39B |
| Contas a Pagar | $18.1M | $20.5M | $21.4M | $44.1M | $51.8M | $43.6M | $43.7M | 0 | 0 | 0 |
| Dívida de Curto Prazo | $137.6M | $133.5M | $249.8M | $167.7M | $52.9M | $68.3M | $101.2M | $66.0M | $56.9M | $43.9M |
| Passivos Circulantes | $2.51B | $2.64B | $3.34B | $3.64B | $4.21B | $4.86B | $5.49B | $5.32B | $5.39B | $7.03B |
| Dívida de Longo Prazo | $116.8M | $138.1M | $123.1M | $178.6M | $138.4M | $80.8M | $99.8M | $125.3M | $150.9M | $136.7M |
| Passivos Totais | $2.63B | $2.78B | $3.47B | $3.82B | $4.35B | $4.94B | $5.60B | $5.49B | $5.58B | $7.23B |
| Reservas | $149.7M | $179.0M | $211.4M | $253.1M | $288.4M | $350.4M | $405.2M | $461.6M | $513.6M | $582.9M |
| Patrimônio Líquido | $330.3M | $364.6M | $458.6M | $573.8M | $624.7M | $668.5M | $558.4M | $663.6M | $715.1M | $1.16B |
| Dívida Total | $258.1M | $275.2M | $376.4M | $349.7M | $194.5M | $152.2M | $203.8M | $193.9M | $210.1M | $182.7M |
| Dívida Líquida | -$500.1M | -$512.7M | -$501.0M | -$567.1M | -$1.08B | -$1.79B | -$1.63B | -$1.48B | -$914.8M | -$1.05B |
| Capital de Giro | -$1.72B | -$1.82B | -$2.43B | -$2.68B | -$2.89B | -$2.88B | -$3.53B | -$3.64B | -$4.26B | -$5.80B |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $113.2M | $71.9M | $76.0M | $94.2M |
| Ativos Totais | $8.40B | $8.39B | $8.38B | $8.44B |
| Passivos Totais | $7.28B | $7.23B | $7.21B | $7.23B |
| Patrimônio Líquido | $1.12B | $1.16B | $1.17B | $1.21B |
| Dívida Total | $211.0M | $182.7M | $174.7M | $174.1M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $35.2M | $40.7M | $46.5M | $59.2M | $62.2M | $84.1M | $81.8M | $85.9M | $83.8M | $112.6M |
| Depreciação e Amortização | $4.3M | $4.7M | $6.2M | $8.6M | $9.4M | $8.8M | $10.1M | $9.6M | $9.3M | $18.7M |
| Compensação em Ações | $1.4M | $1.2M | $1.4M | $1.3M | $1.1M | $1.7M | $2.3M | $2.3M | $2.9M | $2.9M |
| Variação Capital de Giro | $3.3M | -$4.6M | $2.0M | $2.9M | $1.5M | $1.5M | $532000 | $552000 | $394000 | $9.7M |
| Fluxo de Caixa Operacional | $41.9M | $54.9M | $62.3M | $65.2M | $92.4M | $100.8M | $110.0M | $107.2M | $95.8M | $159.3M |
| CapEx | -$5.2M | -$11.2M | -$15.2M | -$9.4M | -$7.1M | -$4.7M | -$7.9M | -$5.7M | -$5.0M | -$5.3M |
| Aquisições | -$1.0M | 0 | $25.1M | $5.5M | 0 | $1.7M | $207.8M | 0 | 0 | $22.7M |
| Recompra de Ações | 0 | -$29000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | -$10.6M | -$11.8M | -$14.1M | -$17.6M | -$20.1M | -$22.2M | -$27.0M | -$29.4M | -$31.8M | -$43.3M |
| Fluxo de Caixa Livre | $36.7M | $43.7M | $47.1M | $55.9M | $85.3M | $96.2M | $102.2M | $101.5M | $90.7M | $154.0M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $51.8M | $42.7M | $37.0M | $58.1M |
| CapEx | -$1.7M | -$1.7M | -$1.1M | -$2.9M |
| Fluxo de Caixa Livre | $50.1M | $41.0M | $36.0M | $55.3M |
| Dividendos Pagos | -$10.8M | -$10.8M | -$11.6M | -$11.6M |
| Compensação em Ações | $787000 | $807000 | $499000 | $819000 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +5.5% | +19.6% | +29.9% | +3.1% | +0.4% | +21.0% | +14.0% | -0.5% | +54.5% |
| Crescimento Lucro Líquido (anual) | | +15.6% | +14.4% | +27.3% | +5.0% | +35.2% | -2.7% | +5.0% | -2.4% | +34.4% |
| Crescimento LPA (anual) | | +12.7% | +12.4% | +15.1% | +2.2% | +35.5% | -12.3% | +4.7% | -2.7% | +8.1% |
| Variação de Ações (anual) | | +2.4% | +2.0% | +10.4% | +2.8% | -0.0% | +11.0% | +0.3% | +0.3% | +24.1% |
| Crescimento FCF (anual) | | +19.1% | +7.9% | +18.5% | +52.8% | +12.7% | +6.3% | -0.7% | -10.6% | +69.8% |
| Margem Bruta | 92.9% | 91.0% | 87.6% | 83.5% | 84.0% | 98.7% | 91.1% | 78.3% | 67.3% | 70.2% |
| Margem Operacional | 36.3% | 36.5% | 32.8% | 32.1% | 32.8% | 44.7% | 35.7% | 32.7% | 33.0% | 28.7% |
| Margem EBITDA | 39.5% | 39.8% | 36.4% | 36.0% | 36.9% | 48.5% | 39.3% | 35.7% | 35.9% | 32.6% |
| Margem Líquida | 26.0% | 28.5% | 27.2% | 26.7% | 27.2% | 36.6% | 29.4% | 27.1% | 26.6% | 23.1% |
| Margem FCF | 27.1% | 30.6% | 27.6% | 25.2% | 37.3% | 41.8% | 36.7% | 32.0% | 28.8% | 31.6% |
| Taxa Efetiva de Imposto | 28.4% | 22.1% | 17.0% | 16.9% | 17.1% | 18.1% | 17.5% | 17.1% | 19.5% | 19.6% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.64 | $1.91 | $2.02 | $2.16 | $3.22 | $3.62 | $3.47 | $3.43 | $3.06 | $4.19 |
| Dividendo por Ação | $0.47 | $0.52 | $0.60 | $0.68 | $0.76 | $0.84 | $0.92 | $1.00 | $1.07 | $1.18 |
| Ações em Circulação (Básicas) | $22.4M | $22.9M | $23.4M | $25.8M | $26.5M | $26.5M | $29.5M | $29.6M | $29.7M | $36.8M |
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 | 12.17% |
| Retorno sobre capital investido | 5.50% |
| Retorno sobre ativos | 1.68% |
| Margem bruta | 75.49% |
| Margem operacional | 35.26% |
| Margem líquida | 28.24% |
Saúde financeira
| Dívida / Patrimônio | 0.14 |
| Liquidez corrente | 2.93 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 22.34 | 19.96 | 13.95 | 15.55 | 14.14 | 12.30 | 13.42 | 11.14 | 14.21 | 12.80 |
| P/VP | 2.38 | 2.22 | 1.42 | 1.60 | 1.41 | 1.55 | 1.97 | 1.44 | 1.67 | 1.24 |
| P/V | 5.80 | 5.67 | 3.80 | 4.14 | 3.84 | 4.50 | 3.95 | 3.02 | 3.78 | 2.96 |
| Margem Bruta | 92.9% | 91.0% | 87.6% | 83.5% | 84.0% | 98.7% | 91.1% | 78.3% | 67.3% | 70.2% |
| Margem Operacional | 36.3% | 36.5% | 32.8% | 32.1% | 32.8% | 44.7% | 35.7% | 32.7% | 33.0% | 28.7% |
| Margem Líquida | 26.0% | 28.5% | 27.2% | 26.7% | 27.2% | 36.6% | 29.4% | 27.1% | 26.6% | 23.1% |