Demonstrações financeiras detalhadas de Gran Tierra Energy Inc. (GTE): 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
Gran Tierra Energy Inc. registou receitas de $596.7M no último exercício, com um CAGR de 5 anos de 20.2%.
Margens dos últimos 12 meses: margem bruta 27.0%, margem operacional 1.8%, margem líquida -40.4%.
Ao preço atual de $10.63, GTE apresenta lucros negativos (P/L não significativo) e um ROE de -122.23%. A capitalização de mercado é de $376M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $289.3M | $421.7M | $613.4M | $571.0M | $237.8M | $473.7M | $711.4M | $637.0M | $621.8M | $596.7M |
| Custo da Receita | $258.2M | $266.3M | $372.6M | $428.6M | $286.7M | $283.5M | $352.9M | $417.0M | $451.4M | $544.1M |
| Lucro Bruto | $31.0M | $155.4M | $240.9M | $142.3M | -$48.8M | $190.2M | $358.5M | $220.0M | $170.4M | $52.6M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $33.2M | $39.0M | $39.5M | $34.7M | $25.4M | $36.3M | $41.0M | $40.8M | $49.6M | $60.1M |
| Despesas Operacionais | $37.0M | $40.2M | $39.5M | $34.7M | $29.5M | $36.3M | $41.0M | $40.8M | $49.3M | $63.4M |
| Lucro Operacional | -$5.9M | $115.2M | $201.4M | $107.6M | -$78.3M | $153.9M | $317.6M | $179.1M | $121.1M | -$10.8M |
| EBITDA | -$496.6M | $182.5M | $376.7M | $364.3M | -$635.0M | $217.4M | $474.5M | $377.6M | $355.7M | $146.8M |
| Despesas com Juros | $14.1M | $13.9M | $27.4M | $43.3M | $54.1M | $54.4M | $46.5M | $55.8M | $80.5M | $101.3M |
| Lucro Antes de Impostos | -$650.2M | $37.3M | $151.5M | $96.0M | -$853.4M | $23.1M | $244.9M | $106.2M | $44.6M | -$232.9M |
| Imposto | -$184.7M | $69.0M | $48.9M | $57.3M | -$75.4M | -$19.3M | $105.9M | $112.4M | $41.4M | -$39.8M |
| Lucro Líquido | -$465.6M | -$31.7M | $102.6M | $38.7M | -$778.0M | $42.5M | $139.0M | -$6.3M | $3.2M | -$193.1M |
| LPA | $-14.50 | $-0.80 | $2.62 | $1.03 | $-21.20 | $1.16 | $3.81 | $-0.19 | $0.10 | $-5.45 |
| LPA Diluído | $-14.50 | $-0.80 | $2.40 | $1.03 | $-21.20 | $1.15 | $3.76 | $-0.19 | $0.10 | $-5.45 |
| Ações em Circulação (Diluídas) | $32.1M | $39.7M | $42.7M | $37.7M | $36.7M | $36.8M | $36.9M | $33.5M | $32.0M | $35.4M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $149.3M | $124.4M | $172.1M | $187.2M |
| Lucro Bruto | $11.6M | -$3.4M | $30.7M | $131.7M |
| Lucro Operacional | -$4.6M | -$24.0M | -$5.1M | $45.3M |
| EBITDA | $59.2M | -$77.0M | -$26.0M | $83.7M |
| Lucro Líquido | -$19.9M | -$141.1M | -$119.2M | $24.9M |
| LPA | $-0.57 | $-3.98 | $-3.38 | $0.70 |
| LPA Diluído | $-0.57 | $-3.98 | $-3.38 | $0.70 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $33.5M | $24.1M | $52.3M | $8.8M | $14.1M | $26.5M | $128.0M | $63.3M | $104.5M | $82.9M |
| Investimentos de Curto Prazo | $578000 | $25.4M | $32.7M | $94.7M | $48.3M | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $72.1M | $86.2M | $104.4M | $172.1M | $58.0M | $58.7M | $10.8M | $12.4M | $53.6M | $60.0M |
| Estoque | $7.8M | $7.1M | 0 | 0 | 0 | 0 | 0 | $29.0M | $43.1M | $55.4M |
| Ativos Circulantes | $131.7M | $145.2M | $202.5M | $290.7M | $133.9M | $101.8M | $168.6M | $112.5M | $211.3M | $213.5M |
| Imobilizado | $1.07B | $1.10B | $1.31B | $1.58B | $964.5M | $995.8M | $1.10B | $1.14B | $1.42B | $1.30B |
| Ágio | $102.6M | $102.6M | $102.6M | $102.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Totais | $1.37B | $1.43B | $1.68B | $2.04B | $1.20B | $1.19B | $1.34B | $1.33B | $1.65B | $1.59B |
| Contas a Pagar | $84.6M | $106.0M | $127.5M | $154.2M | $68.7M | $102.6M | $114.3M | $122.7M | $177.4M | $194.6M |
| Dívida de Curto Prazo | 0 | 0 | 0 | $3.3M | $3.3M | $70.3M | $4.8M | $47.7M | $24.8M | $21.2M |
| Passivos Circulantes | $155.0M | $157.0M | $169.4M | $199.3M | $113.6M | $228.0M | $241.6M | $260.3M | $322.4M | $355.7M |
| Dívida de Longo Prazo | $197.1M | $256.5M | $399.4M | $696.9M | $771.9M | $586.0M | $568.9M | $493.0M | $701.8M | $674.8M |
| Passivos Totais | $508.9M | $493.3M | $646.8M | $1.01B | $944.7M | $887.0M | $918.0M | $929.9M | $1.24B | $1.36B |
| Reservas | -$494.0M | -$401.2M | -$298.6M | -$260.3M | -$1.04B | -$995.8M | -$856.7M | -$863.0M | -$859.8M | -$1.05B |
| Patrimônio Líquido | $859.0M | $936.3M | $1.03B | $1.03B | $257.0M | $302.1M | $417.6M | $396.4M | $413.6M | $228.7M |
| Dívida Total | $197.1M | $256.5M | $399.4M | $703.8M | $778.1M | $657.7M | $594.4M | $567.2M | $762.2M | $724.8M |
| Dívida Líquida | $163.0M | $207.1M | $314.4M | $600.2M | $715.6M | $631.2M | $466.4M | $504.0M | $657.7M | $641.9M |
| Capital de Giro | -$23.3M | -$11.7M | $33.1M | $91.3M | $20.2M | -$126.2M | -$73.1M | -$147.8M | -$111.2M | -$142.2M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $49.1M | $82.9M | $125.0M | $126.7M |
| Ativos Totais | $1.66B | $1.59B | $1.64B | $1.56B |
| Passivos Totais | $1.29B | $1.36B | $1.53B | $1.43B |
| Patrimônio Líquido | $366.0M | $228.7M | $108.9M | $132.2M |
| Dívida Total | $773.6M | $724.8M | $627.4M | $622.7M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$465.6M | -$31.7M | $102.6M | $38.7M | -$778.0M | $42.5M | $139.0M | -$6.3M | $3.2M | -$193.1M |
| Depreciação e Amortização | $139.5M | $131.3M | $197.9M | $225.0M | $164.2M | $139.9M | $183.1M | $215.6M | $230.6M | $278.4M |
| Compensação em Ações | $6.3M | $9.8M | $8.3M | $1.4M | $1.2M | $8.4M | 0 | $5.7M | $9.7M | $3.2M |
| Variação Capital de Giro | -$11.3M | -$29.2M | -$21.4M | -$93.9M | $36.1M | $59.2M | $64.3M | -$48.4M | $16.1M | $141.9M |
| Fluxo de Caixa Operacional | $93.0M | $189.6M | $284.5M | $177.7M | $81.1M | $244.8M | $427.7M | $228.0M | $239.3M | $313.2M |
| CapEx | -$147.2M | -$285.5M | -$400.3M | -$457.1M | -$96.3M | -$149.9M | -$236.6M | -$218.9M | -$234.2M | -$280.3M |
| Aquisições | -$496.6M | $33.0M | 0 | 0 | 0 | 0 | 0 | 0 | -$162.7M | 0 |
| Recompra de Ações | 0 | -$17.9M | -$12.7M | -$37.6M | 0 | 0 | -$27.3M | -$17.3M | -$15.3M | -$3.5M |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$54.1M | -$95.8M | -$115.8M | -$279.4M | -$15.2M | $95.0M | $191.1M | $9.1M | $5.1M | $32.9M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | -$109.7M | $157.2M | $172.7M | $57.4M |
| CapEx | $156.6M | -$62.2M | -$41.5M | -$61.0M |
| Fluxo de Caixa Livre | $46.8M | $95.0M | $131.2M | -$3.6M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $172 | $3.0M | 0 | $15.9M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +45.8% | +45.5% | -6.9% | -58.3% | +99.2% | +50.2% | -10.5% | -2.4% | -4.0% |
| Crescimento Lucro Líquido (anual) | | +93.2% | +423.6% | -62.3% | -2110.8% | +105.5% | +227.3% | -104.5% | +151.2% | -6104.9% |
| Crescimento LPA (anual) | | +94.5% | +428.1% | -60.9% | -2163.0% | +105.5% | +229.6% | -104.9% | +153.2% | -5550.0% |
| Variação de Ações (anual) | | +23.6% | +7.7% | -11.8% | -2.5% | +0.2% | +0.4% | -9.4% | -4.3% | +10.6% |
| Crescimento FCF (anual) | | -77.0% | -20.9% | -141.3% | +94.6% | +724.4% | +101.3% | -95.2% | -44.2% | +547.2% |
| Margem Bruta | 10.7% | 36.9% | 39.3% | 24.9% | -20.5% | 40.2% | 50.4% | 34.5% | 27.4% | 8.8% |
| Margem Operacional | -2.1% | 27.3% | 32.8% | 18.8% | -32.9% | 32.5% | 44.6% | 28.1% | 19.5% | -1.8% |
| Margem EBITDA | -171.7% | 43.3% | 61.4% | 63.8% | -267.0% | 45.9% | 66.7% | 59.3% | 57.2% | 24.6% |
| Margem Líquida | -160.9% | -7.5% | 16.7% | 6.8% | -327.1% | 9.0% | 19.5% | -1.0% | 0.5% | -32.4% |
| Margem FCF | -18.7% | -22.7% | -18.9% | -48.9% | -6.4% | 20.0% | 26.9% | 1.4% | 0.8% | 5.5% |
| Taxa Efetiva de Imposto | 28.4% | 184.9% | 32.3% | 59.7% | 8.8% | -83.6% | 43.2% | 105.9% | 92.8% | 17.1% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-1.69 | $-2.42 | $-2.71 | $-7.42 | $-0.41 | $2.58 | $5.18 | $0.27 | $0.16 | $0.93 |
| 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) | $32.1M | $39.6M | $42.7M | $37.6M | $36.7M | $36.7M | $36.4M | $33.5M | $32.0M | $35.4M |
O que olhar em empresas de Energy
- FCF yield (>8%) — Caixa gerada / capitalização. Em energia o FCF importa mais que LPA.
- ROIC médio 5a (≥10%) — Incluir anos bons e maus para filtrar as realmente disciplinadas.
- FCF positivo em 8 dos últimos 10 anos (≥8/10) — Nomes disciplinados (XOM, CVX, EOG) sobrevivem crashes de 2014-16 e 2020.
- Cobertura do dividendo (FCF / div) (≥1,2x) — Dividendo coberto por FCF, não por dívida. <1x = corte provável.
- Dívida Líquida / EBITDA (<2x em pico) — Olhar com EBITDA em vale, não em pico.
- Capex / Receita (10-20% saudável) — Energia precisa de reinvestimento agressivo para manter reservas.
Rentabilidade
| Retorno sobre patrimônio | -122.23% |
| Retorno sobre capital investido | 0.84% |
| Retorno sobre ativos | -16.33% |
| Margem bruta | 26.95% |
| Margem operacional | 1.84% |
| Margem líquida | -40.35% |
Saúde financeira
| Dívida / Patrimônio | 4.71 |
| Liquidez corrente | 0.48 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -0.62 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -2.08 | -33.75 | 8.27 | 12.55 | -0.17 | 6.58 | 2.60 | -30.03 | 72.30 | -0.78 |
| P/VP | 1.13 | 1.14 | 0.90 | 0.47 | 0.52 | 0.92 | 0.86 | 0.48 | 0.56 | 0.66 |
| P/V | 3.35 | 2.54 | 1.51 | 0.85 | 0.56 | 0.59 | 0.51 | 0.30 | 0.37 | 0.25 |
| Margem Bruta | 10.7% | 36.9% | 39.3% | 24.9% | -20.5% | 40.2% | 50.4% | 34.5% | 27.4% | 8.8% |
| Margem Operacional | -2.1% | 27.3% | 32.8% | 18.8% | -32.9% | 32.5% | 44.6% | 28.1% | 19.5% | -1.8% |
| Margem Líquida | -160.9% | -7.5% | 16.7% | 6.8% | -327.1% | 9.0% | 19.5% | -1.0% | 0.5% | -32.4% |