Demonstrações financeiras detalhadas de Groupon, Inc. (GRPN): 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
Groupon, Inc. registou receitas de $498.4M no último exercício, com um CAGR de 5 anos de -18.9%.
Margens dos últimos 12 meses: margem bruta 90.2%, margem operacional 0.9%, margem líquida -25.3%.
Ao preço atual de $19.33, GRPN apresenta lucros negativos (P/L não significativo) e um ROE de 212.18%. A capitalização de mercado é de $734M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $3.01B | $2.84B | $2.64B | $2.22B | $1.42B | $967.1M | $599.1M | $514.9M | $492.6M | $498.4M |
| Custo da Receita | $1.73B | $1.51B | $1.32B | $1.03B | $739.6M | $230.0M | $76.3M | $64.2M | $48.3M | $55.0M |
| Lucro Bruto | $1.28B | $1.33B | $1.32B | $1.19B | $677.3M | $737.1M | $522.8M | $450.7M | $444.3M | $443.5M |
| P&D | $55.0M | $57.0M | $53.9M | $56.6M | $58.8M | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $1.35B | $1.30B | $1.27B | $1.15B | $757.7M | $699.9M | $630.6M | $460.9M | $439.6M | $430.5M |
| Despesas Operacionais | $1.38B | $1.30B | $1.27B | $1.15B | $954.4M | $741.8M | $690.6M | $468.9M | $435.5M | $430.5M |
| Lucro Operacional | -$65.5M | $29.4M | $54.0M | $39.8M | -$277.1M | -$4.7M | -$167.8M | -$18.3M | $8.8M | $13.0M |
| EBITDA | -$19.7M | $194.7M | $138.8M | $115.8M | -$173.4M | $178.1M | -$114.9M | $23.5M | $9.0M | -$12.6M |
| Despesas com Juros | $15.9M | $20.7M | $21.9M | $23.6M | $33.2M | $17.2M | $14.4M | $15.7M | $8.5M | $14.3M |
| Lucro Antes de Impostos | -$171.5M | $36.1M | $1.0M | -$13.5M | -$294.1M | $88.0M | -$192.0M | -$43.4M | -$30.4M | -$45.5M |
| Imposto | $5.3M | $7.5M | -$957000 | $761000 | -$7.5M | -$32.3M | $42.4M | $9.5M | $26.1M | $35.6M |
| Lucro Líquido | -$194.6M | $14.0M | -$11.1M | -$22.4M | -$287.9M | $118.7M | -$237.6M | -$55.4M | -$59.0M | -$83.5M |
| LPA | $-6.80 | $0.56 | $-0.39 | $-0.79 | $-10.02 | $4.04 | $-7.88 | $-1.77 | $-1.51 | $-2.08 |
| LPA Diluído | $-6.75 | $0.40 | $-0.39 | $-0.79 | $-10.02 | $3.68 | $-7.88 | $-1.77 | $-1.51 | $-2.08 |
| Ações em Circulação (Diluídas) | $28.8M | $28.4M | $28.3M | $28.4M | $28.6M | $33.5M | $30.2M | $31.2M | $39.2M | $40.3M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $122.8M | $132.7M | $117.2M | $124.7M |
| Lucro Bruto | $109.4M | $120.0M | $106.0M | $113.4M |
| Lucro Operacional | $2.2M | $6.4M | -$3.3M | -$717000 |
| EBITDA | -$88.8M | $17.4M | $492000 | $8.0M |
| Lucro Líquido | -$118.4M | $7.3M | -$12.9M | -$1.8M |
| LPA | $-2.92 | $0.18 | $-0.32 | $-0.04 |
| LPA Diluído | $-2.92 | $0.20 | $-0.32 | $-0.04 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $863.0M | $880.1M | $841.0M | $750.9M | $850.6M | $498.7M | $281.3M | $141.6M | $228.8M | $296.1M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $88.7M | $115.0M | $76.2M | $59.7M | $48.4M | $44.5M | $51.7M | $55.7M | $36.8M | $34.4M |
| Estoque | $31.0M | $25.5M | $33.7M | $25.4M | $1.3M | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $1.09B | $1.07B | $998.6M | $887.9M | $934.0M | $588.1M | $367.4M | $255.6M | $315.4M | $374.4M |
| Imobilizado | $169.5M | $151.1M | $143.1M | $233.3M | $160.6M | $121.5M | $68.9M | $32.7M | $23.9M | $22.4M |
| Ágio | $274.6M | $287.0M | $325.5M | $325.0M | $214.7M | $216.4M | $178.7M | $178.7M | $178.7M | $178.7M |
| Ativos Intangíveis | $42.9M | $19.2M | $45.4M | $35.3M | $30.2M | $24.3M | $17.6M | $11.4M | $4.7M | $3.2M |
| Ativos Totais | $1.76B | $1.68B | $1.64B | $1.59B | $1.41B | $1.16B | $793.1M | $571.0M | $612.7M | $670.4M |
| Contas a Pagar | $28.6M | $32.0M | $38.4M | $20.4M | $33.0M | $22.2M | $59.6M | $15.0M | $11.3M | $8.7M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | $200.0M | $100.0M | $75.0M | $42.8M | 0 | $33.7M |
| Passivos Circulantes | $1.21B | $1.13B | $957.2M | $821.5M | $939.0M | $631.0M | $531.4M | $369.2M | $305.4M | $383.9M |
| Dívida de Longo Prazo | $179.0M | $189.8M | $201.7M | $214.9M | $229.5M | $223.4M | $224.9M | $226.5M | $246.0M | $309.2M |
| Passivos Totais | $1.50B | $1.43B | $1.26B | $1.19B | $1.30B | $947.6M | $784.3M | $611.3M | $571.6M | $712.8M |
| Reservas | -$1.10B | -$1.09B | -$1.01B | -$1.03B | -$1.32B | -$1.16B | -$1.39B | -$1.45B | -$1.51B | -$1.59B |
| Patrimônio Líquido | $264.4M | $251.0M | $381.2M | $393.9M | $107.7M | $209.9M | $8.5M | -$40.6M | $40.8M | -$42.6M |
| Dívida Total | $227.6M | $234.2M | $231.4M | $371.8M | $558.2M | $414.2M | $346.8M | $278.7M | $252.9M | $349.6M |
| Dívida Líquida | -$635.4M | -$645.9M | -$609.7M | -$379.1M | -$292.4M | -$84.5M | $65.5M | $137.2M | $24.1M | $53.5M |
| Capital de Giro | -$121.1M | -$61.1M | $41.5M | $66.4M | -$5.0M | -$42.9M | -$164.1M | -$113.6M | $9.9M | -$9.5M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $267.8M | $296.1M | $225.5M | $226.2M |
| Ativos Totais | $608.2M | $670.4M | $595.9M | $599.7M |
| Passivos Totais | $667.6M | $712.8M | $658.3M | $671.7M |
| Patrimônio Líquido | -$59.6M | -$42.6M | -$62.6M | -$72.2M |
| Dívida Total | $351.2M | $349.6M | $314.2M | $312.3M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$183.3M | $26.6M | $2.0M | -$11.7M | -$288.3M | $120.3M | -$234.4M | -$55.4M | -$56.5M | -$81.7M |
| Depreciação e Amortização | $137.7M | $137.8M | $115.8M | $105.8M | $87.5M | $72.8M | $62.7M | $51.2M | $30.9M | $18.6M |
| Compensação em Ações | $118.2M | $82.0M | $64.8M | $81.6M | 0 | $33.2M | $30.0M | $14.5M | $26.7M | $37.8M |
| Variação Capital de Giro | $6.9M | -$100.2M | -$17.9M | -$145.0M | -$72.6M | -$197.7M | -$102.0M | -$102.7M | $17.8M | $30.3M |
| Fluxo de Caixa Operacional | $117.1M | $135.1M | $190.9M | $71.3M | -$63.6M | -$124.0M | -$136.0M | -$78.0M | $55.9M | $64.5M |
| CapEx | -$71.3M | -$60.2M | -$88.0M | -$71.1M | -$48.7M | -$52.8M | -$38.8M | -$19.3M | -$15.9M | -$14.6M |
| Aquisições | $12.1M | -$1.9M | -$58.1M | 0 | 0 | 0 | 0 | 0 | 0 | $15.0M |
| Recompra de Ações | -$165.4M | -$61.2M | -$9.6M | -$45.6M | 0 | -$19.8M | -$6.1M | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $45.8M | $74.9M | $102.9M | $217000 | -$112.3M | -$176.7M | -$174.8M | -$97.3M | $40.0M | $49.9M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | -$20.5M | $56.6M | -$10.0M | $18.1M |
| CapEx | -$4.1M | -$3.6M | -$3.6M | -$3.1M |
| Fluxo de Caixa Livre | -$24.6M | $53.0M | -$13.5M | $15.0M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $11.1M | $10.2M | $11.9M | $8.3M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | -5.6% | -7.3% | -15.8% | -36.1% | -31.7% | -38.1% | -14.1% | -4.3% | +1.2% |
| Crescimento Lucro Líquido (anual) | | +107.2% | -178.9% | -102.0% | -1186.7% | +141.2% | -300.2% | +76.7% | -6.5% | -41.5% |
| Crescimento LPA (anual) | | +108.2% | -169.6% | -102.6% | -1168.4% | +140.3% | -295.0% | +77.5% | +14.7% | -37.7% |
| Variação de Ações (anual) | | -1.4% | -0.3% | +0.2% | +0.8% | +17.2% | -10.0% | +3.6% | +25.4% | +2.9% |
| Crescimento FCF (anual) | | +63.4% | +37.5% | -99.8% | -51855.3% | -57.4% | +1.1% | +44.4% | +141.1% | +24.8% |
| Margem Bruta | 42.5% | 46.9% | 50.1% | 53.5% | 47.8% | 76.2% | 87.3% | 87.5% | 90.2% | 89.0% |
| Margem Operacional | -2.2% | 1.0% | 2.0% | 1.8% | -19.6% | -0.5% | -28.0% | -3.5% | 1.8% | 2.6% |
| Margem EBITDA | -0.7% | 6.8% | 5.3% | 5.2% | -12.2% | 18.4% | -19.2% | 4.6% | 1.8% | -2.5% |
| Margem Líquida | -6.5% | 0.5% | -0.4% | -1.0% | -20.3% | 12.3% | -39.7% | -10.8% | -12.0% | -16.8% |
| Margem FCF | 1.5% | 2.6% | 3.9% | 0.0% | -7.9% | -18.3% | -29.2% | -18.9% | 8.1% | 10.0% |
| Taxa Efetiva de Imposto | -3.1% | 20.9% | -92.8% | -5.6% | 2.6% | -36.7% | -22.1% | -21.9% | -86.0% | -78.4% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.59 | $2.63 | $3.63 | $0.01 | $-3.93 | $-5.27 | $-5.80 | $-3.11 | $1.02 | $1.24 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Ações em Circulação (Básicas) | $28.6M | $28.0M | $28.3M | $28.4M | $28.6M | $29.4M | $30.2M | $31.2M | $39.2M | $40.3M |
O que olhar em empresas de Communication Services
- 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 | 212.18% |
| Retorno sobre capital investido | 1.78% |
| Retorno sobre ativos | -20.95% |
| Margem bruta | 90.24% |
| Margem operacional | 0.93% |
| Margem líquida | -25.26% |
Saúde financeira
| Dívida / Patrimônio | -4.33 |
| Liquidez corrente | 0.79 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -9.76 | 182.14 | -164.10 | -60.51 | -3.79 | 5.73 | -1.09 | -7.25 | -8.05 | -8.47 |
| P/VP | 7.19 | 11.37 | 4.76 | 3.44 | 10.09 | 3.24 | 30.54 | -9.87 | 11.66 | -16.67 |
| P/V | 0.63 | 1.00 | 0.69 | 0.61 | 0.77 | 0.70 | 0.43 | 0.78 | 0.97 | 1.42 |
| Margem Bruta | 42.5% | 46.9% | 50.1% | 53.5% | 47.8% | 76.2% | 87.3% | 87.5% | 90.2% | 89.0% |
| Margem Operacional | -2.2% | 1.0% | 2.0% | 1.8% | -19.6% | -0.5% | -28.0% | -3.5% | 1.8% | 2.6% |
| Margem Líquida | -6.5% | 0.5% | -0.4% | -1.0% | -20.3% | 12.3% | -39.7% | -10.8% | -12.0% | -16.8% |