Demonstrações financeiras detalhadas de Horizon Bancorp, Inc. (HBNC): 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
Horizon Bancorp, Inc. registou receitas de $103.2M no último exercício, com um CAGR de 5 anos de -16.5%.
Margens dos últimos 12 meses: margem bruta -12.6%, margem operacional -198.0%, margem líquida -150.9%. O fluxo de caixa livre cresceu a CAGR de 0.4% em 5 anos.
Ao preço atual de $19.49, HBNC apresenta lucros negativos (P/L não significativo) e um ROE de -20.76%. A capitalização de mercado é de $1.0B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $136.4M | $156.6M | $194.2M | $242.8M | $254.4M | $246.6M | $278.1M | $319.3M | $355.4M | $103.2M |
| Custo da Receita | $22.4M | $18.9M | $34.5M | $49.5M | $55.2M | $16.2M | $34.7M | $139.0M | $173.3M | $133.6M |
| Lucro Bruto | $114.0M | $137.8M | $159.7M | $193.2M | $199.2M | $230.3M | $243.4M | $180.3M | $182.1M | -$30.4M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $45.6M | $52.4M | $58.1M | $65.5M | $72.9M | $76.4M | $82.8M | $84.7M | $93.3M | $108.4M |
| Despesas Operacionais | $81.3M | $89.8M | $96.2M | $113.4M | $120.8M | $127.9M | $137.8M | $141.3M | $154.8M | $169.1M |
| Lucro Operacional | $32.7M | $48.0M | $63.6M | $79.8M | $78.4M | $102.4M | $105.6M | $39.0M | $27.4M | -$199.5M |
| EBITDA | $38.0M | $53.9M | $70.4M | $89.5M | $90.7M | $116.3M | $118.7M | $51.0M | $39.7M | -$187.6M |
| Despesas com Juros | $20.5M | $16.4M | $31.6M | $47.5M | $34.4M | $18.3M | $36.5M | $136.6M | $167.9M | $133.3M |
| Lucro Antes de Impostos | $32.7M | $48.0M | $63.6M | $79.8M | $78.4M | $102.4M | $105.6M | $39.0M | $27.4M | -$201.2M |
| Imposto | $8.8M | $14.8M | $10.4M | $13.3M | $9.9M | $15.4M | $12.2M | $11.0M | -$8.1M | -$50.7M |
| Lucro Líquido | $23.9M | $33.1M | $53.1M | $66.5M | $68.5M | $87.1M | $93.4M | $28.0M | $35.4M | -$150.5M |
| LPA | $0.79 | $0.96 | $1.39 | $1.53 | $1.56 | $1.99 | $2.14 | $0.64 | $0.81 | $-3.14 |
| LPA Diluído | $0.79 | $0.95 | $1.38 | $1.53 | $1.55 | $1.98 | $2.14 | $0.64 | $0.80 | $-3.15 |
| Ações em Circulação (Diluídas) | $30.1M | $34.8M | $38.5M | $43.6M | $44.1M | $44.0M | $43.7M | $43.8M | $44.1M | $51.3M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | -$203.7M | $100.8M | $97.9M | $100.5M |
| Lucro Bruto | -$234.6M | $74.9M | $73.1M | $74.6M |
| Lucro Operacional | -$286.3M | $34.3M | $32.3M | $30.7M |
| EBITDA | -$281.0M | $35.0M | $35.8M | $30.7M |
| Lucro Líquido | -$222.0M | $26.9M | $26.2M | $24.9M |
| LPA | $-4.69 | $0.53 | $0.51 | $0.49 |
| LPA Diluído | $-4.69 | $0.53 | $0.51 | $0.49 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $70.8M | $76.4M | $74.2M | $107.3M | $258.7M | $598.3M | $126.3M | $526.5M | $294.2M | $66.8M |
| Investimentos de Curto Prazo | $439.8M | $509.7M | $600.3M | $841.1M | $1.13B | $1.16B | $997.6M | $547.3M | $233.7M | $3.9M |
| Contas a Receber | $12.7M | $13.1M | $14.2M | $18.8M | $21.4M | $26.1M | $35.3M | $38.7M | $39.7M | $29.7M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $523.4M | $599.2M | $688.8M | $967.2M | $1.41B | $1.79B | $1.16B | $1.11B | $567.6M | $100.4M |
| Imobilizado | $66.4M | $75.5M | $74.3M | $92.2M | $92.4M | $93.4M | $92.7M | $94.6M | $93.9M | $92.8M |
| Ágio | $77.1M | $119.9M | $119.9M | $151.2M | $151.2M | $154.6M | $155.2M | $155.2M | $155.2M | $155.2M |
| Ativos Intangíveis | $9.4M | $12.4M | $10.4M | $26.7M | $23.0M | $20.9M | $17.2M | $13.6M | $10.2M | $7.2M |
| Ativos Totais | $3.14B | $3.96B | $4.25B | $5.24B | $5.89B | $7.41B | $7.87B | $7.94B | $7.80B | $6.44B |
| Contas a Pagar | $472000 | $886000 | $2.0M | $3.1M | $2.7M | $2.2M | $5.4M | $22.2M | $11.1M | 0 |
| Dívida de Curto Prazo | $143.5M | $216.8M | $193.8M | $158.9M | $109.5M | $130.8M | $272.6M | $136.0M | $89.9M | $88.5M |
| Passivos Circulantes | $2.62B | $3.10B | $3.34B | $4.09B | $4.64B | $5.94B | $6.14B | $5.82B | $5.70B | $88.5M |
| Dívida de Longo Prazo | $181.0M | $386.5M | $394.4M | $447.1M | $480.7M | $697.5M | $742.3M | $899.8M | $1.26B | $316.0M |
| Passivos Totais | $2.80B | $3.51B | $3.75B | $4.59B | $5.19B | $6.69B | $7.20B | $7.22B | $7.04B | $5.75B |
| Reservas | $164.2M | $185.6M | $224.0M | $269.7M | $301.4M | $363.7M | $429.4M | $429.0M | $436.1M | $255.0M |
| Patrimônio Líquido | $340.9M | $457.1M | $492.0M | $656.0M | $692.2M | $723.2M | $677.4M | $718.8M | $763.6M | $688.3M |
| Dívida Total | $324.4M | $601.8M | $588.2M | $606.1M | $590.2M | $828.3M | $1.01B | $1.04B | $1.35B | $404.5M |
| Dívida Líquida | -$186.2M | $15.7M | -$86.4M | -$342.3M | -$802.5M | -$930.8M | -$109.0M | -$39.9M | $817.6M | $333.8M |
| Capital de Giro | -$2.09B | -$2.50B | -$2.65B | -$3.13B | -$3.23B | -$4.15B | -$4.98B | -$4.71B | -$5.13B | $12.0M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $458.3M | $66.8M | $68.4M | $217.9M |
| Ativos Totais | $6.71B | $6.44B | $6.56B | $6.57B |
| Passivos Totais | $6.05B | $5.75B | $5.87B | $5.85B |
| Patrimônio Líquido | $660.8M | $688.3M | $699.0M | $726.2M |
| Dívida Total | $458.8M | $404.5M | $381.8M | $379.1M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $23.9M | $33.1M | $53.1M | $66.5M | $68.5M | $87.1M | $93.4M | $28.0M | $35.4M | -$150.5M |
| Depreciação e Amortização | $5.3M | $5.9M | $6.8M | $9.7M | $12.3M | $13.9M | $13.1M | $12.0M | $12.3M | $12.4M |
| Compensação em Ações | $324000 | $325000 | $251000 | $215000 | $1.3M | $1.8M | $2.5M | $3.6M | $4.6M | $1.6M |
| Variação Capital de Giro | -$8.7M | -$2.0M | $5.1M | $97.2M | -$6.4M | $2.0M | -$24.8M | $5.0M | -$11.8M | $8.1M |
| Fluxo de Caixa Operacional | $25.5M | $49.1M | $72.3M | $174.4M | $78.8M | $106.3M | $94.4M | $88.9M | $6.4M | $79.2M |
| CapEx | -$1.4M | -$2.7M | -$3.4M | -$4.6M | -$5.9M | -$1.4M | -$6.4M | -$7.8M | -$5.1M | -$5.0M |
| Aquisições | $169.5M | $44.2M | 0 | $128.7M | 0 | $622.2M | 0 | 0 | 0 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | -$19.6M | -$7.6M | 0 | 0 | 0 | 0 |
| Dividendos Pagos | -$8.4M | -$11.7M | -$15.4M | -$20.8M | -$21.2M | -$24.8M | -$27.8M | -$28.3M | -$28.3M | -$29.5M |
| Fluxo de Caixa Livre | $24.2M | $46.4M | $68.9M | $169.8M | $72.9M | $104.9M | $88.0M | $81.2M | $1.3M | $74.3M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $10.9M | $33.6M | $20.8M | $33.2M |
| CapEx | -$1.5M | -$943000 | -$56000 | $56000 |
| Fluxo de Caixa Livre | $9.4M | $32.6M | $20.8M | $33.2M |
| Dividendos Pagos | -$7.1M | -$8.2M | -$8.2M | -$8.2M |
| Compensação em Ações | $318000 | $457000 | $556000 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +14.8% | +24.0% | +25.0% | +4.8% | -3.1% | +12.8% | +14.8% | +11.3% | -71.0% |
| Crescimento Lucro Líquido (anual) | | +38.5% | +60.4% | +25.3% | +2.9% | +27.1% | +7.3% | -70.0% | +26.6% | -524.7% |
| Crescimento LPA (anual) | | +21.5% | +44.8% | +10.1% | +2.0% | +27.6% | +7.5% | -70.1% | +26.6% | -487.7% |
| Variação de Ações (anual) | | +15.4% | +10.7% | +13.3% | +1.2% | -0.4% | -0.6% | +0.3% | +0.5% | +16.4% |
| Crescimento FCF (anual) | | +91.9% | +48.5% | +146.6% | -57.1% | +43.9% | -16.2% | -7.7% | -98.4% | +5684.7% |
| Margem Bruta | 83.6% | 88.0% | 82.2% | 79.6% | 78.3% | 93.4% | 87.5% | 56.5% | 51.2% | -29.5% |
| Margem Operacional | 24.0% | 30.6% | 32.7% | 32.9% | 30.8% | 41.5% | 38.0% | 12.2% | 7.7% | -193.4% |
| Margem EBITDA | 27.9% | 34.4% | 36.2% | 36.9% | 35.7% | 47.2% | 42.7% | 16.0% | 11.2% | -181.9% |
| Margem Líquida | 17.5% | 21.1% | 27.3% | 27.4% | 26.9% | 35.3% | 33.6% | 8.8% | 10.0% | -145.9% |
| Margem FCF | 17.7% | 29.6% | 35.4% | 69.9% | 28.7% | 42.5% | 31.6% | 25.4% | 0.4% | 72.0% |
| Taxa Efetiva de Imposto | 26.9% | 30.9% | 16.4% | 16.7% | 12.6% | 15.0% | 11.5% | 28.3% | -29.5% | 25.2% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.80 | $1.33 | $1.79 | $3.89 | $1.65 | $2.39 | $2.01 | $1.85 | $0.03 | $1.45 |
| Dividendo por Ação | $0.28 | $0.34 | $0.40 | $0.48 | $0.48 | $0.56 | $0.64 | $0.65 | $0.64 | $0.58 |
| Ações em Circulação (Básicas) | $30.0M | $34.6M | $38.3M | $43.5M | $44.0M | $43.8M | $43.6M | $43.6M | $43.7M | $51.0M |
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 | -20.76% |
| Retorno sobre capital investido | -12.27% |
| Retorno sobre ativos | -2.19% |
| Margem bruta | -12.57% |
| Margem operacional | -197.96% |
| Margem líquida | -150.89% |
Saúde financeira
| Dívida / Patrimônio | 0.52 |
| Liquidez corrente | 0.21 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 23.63 | 19.30 | 11.35 | 12.42 | 10.17 | 10.48 | 7.05 | 22.36 | 19.89 | -5.40 |
| P/VP | 1.64 | 1.40 | 1.23 | 1.26 | 1.01 | 1.26 | 0.97 | 0.87 | 0.92 | 1.26 |
| P/V | 4.10 | 4.09 | 3.12 | 3.40 | 2.75 | 3.70 | 2.36 | 1.96 | 1.98 | 8.38 |
| Margem Bruta | 83.6% | 88.0% | 82.2% | 79.6% | 78.3% | 93.4% | 87.5% | 56.5% | 51.2% | -29.5% |
| Margem Operacional | 24.0% | 30.6% | 32.7% | 32.9% | 30.8% | 41.5% | 38.0% | 12.2% | 7.7% | -193.4% |
| Margem Líquida | 17.5% | 21.1% | 27.3% | 27.4% | 26.9% | 35.3% | 33.6% | 8.8% | 10.0% | -145.9% |