Demonstrações financeiras detalhadas de Inogen, Inc. (INGN): 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
Inogen, Inc. registou receitas de $348.7M no último exercício, com um CAGR de 5 anos de 2.5%.
Margens dos últimos 12 meses: margem bruta 48.9%, margem operacional -8.4%, margem líquida -6.9%.
Ao preço atual de $5.13, INGN apresenta lucros negativos (P/L não significativo) e um ROE de -13.17%. A capitalização de mercado é de $139M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $202.8M | $249.4M | $358.1M | $361.9M | $308.5M | $358.0M | $377.2M | $315.7M | $335.7M | $348.7M |
| Custo da Receita | $105.5M | $128.2M | $179.5M | $190.1M | $170.3M | $181.5M | $223.7M | $189.0M | $181.0M | $182.8M |
| Lucro Bruto | $97.3M | $121.2M | $178.6M | $171.9M | $138.2M | $176.5M | $153.5M | $126.7M | $154.7M | $165.9M |
| P&D | $5.1M | $5.3M | $7.0M | $9.4M | $14.1M | $16.6M | $21.9M | $20.8M | $21.6M | $19.4M |
| Despesas Gerais e Administrativas | $69.3M | $88.3M | $133.7M | $142.7M | $136.1M | $150.7M | $164.7M | $182.4M | $175.6M | $165.1M |
| Despesas Operacionais | $74.4M | $93.6M | $140.7M | $152.1M | $150.2M | $167.2M | $238.8M | $236.1M | $197.3M | $196.1M |
| Lucro Operacional | $22.9M | $27.6M | $37.9M | $19.8M | -$12.0M | $9.2M | -$85.2M | -$109.4M | -$42.5M | -$30.2M |
| EBITDA | $36.4M | $39.9M | $49.2M | $33.6M | $6.6M | $30.3M | -$9.6M | -$58.3M | -$15.5M | -$2.7M |
| Despesas com Juros | $6000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Lucro Antes de Impostos | $22.7M | $29.7M | $40.5M | $24.3M | -$5.3M | $8.7M | -$83.3M | -$102.3M | -$36.5M | -$23.4M |
| Imposto | $2.2M | $8.7M | -$11.4M | $3.3M | $549000 | $15.0M | $504000 | $105000 | -$588000 | -$632000 |
| Lucro Líquido | $20.5M | $21.0M | $51.8M | $20.9M | -$5.8M | -$6.3M | -$83.8M | -$102.4M | -$35.9M | -$22.7M |
| LPA | $1.02 | $1.02 | $2.30 | $0.96 | $-0.27 | $-0.28 | $-3.67 | $-4.42 | $-1.52 | $-0.85 |
| LPA Diluído | $0.97 | $0.96 | $2.30 | $0.94 | $-0.27 | $-0.28 | $-3.67 | $-4.42 | $-1.52 | $-0.85 |
| Ações em Circulação (Diluídas) | $21.1M | $21.9M | $22.5M | $22.2M | $22.0M | $22.5M | $22.9M | $23.2M | $23.7M | $27.2M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $92.4M | $81.7M | $85.1M | $95.1M |
| Lucro Bruto | $47.0M | $41.2M | $41.8M | $43.3M |
| Lucro Operacional | -$7.1M | -$9.3M | -$8.4M | -$5.1M |
| EBITDA | -$221000 | -$2.3M | -$3.6M | -$559000 |
| Lucro Líquido | -$5.3M | -$7.1M | -$8.3M | -$3.9M |
| LPA | $-0.20 | $-0.26 | $-0.30 | $-0.14 |
| LPA Diluído | $-0.20 | $-0.26 | $-0.30 | $-0.14 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $92.9M | $143.0M | $196.6M | $198.0M | $212.0M | $235.5M | $187.0M | $125.5M | $113.8M | $103.7M |
| Investimentos de Curto Prazo | $21.0M | $31.0M | $43.7M | $11.1M | $19.3M | $10.0M | 0 | $3.0M | 0 | $15.8M |
| Contas a Receber | $30.8M | $32.8M | $39.7M | $37.3M | $31.8M | $25.8M | $64.4M | $42.9M | $30.1M | $38.9M |
| Estoque | $14.3M | $18.8M | $27.1M | $35.7M | $24.8M | $31.9M | $34.1M | $21.8M | $24.8M | $26.0M |
| Ativos Circulantes | $161.5M | $228.5M | $314.6M | $292.2M | $305.7M | $329.2M | $304.6M | $207.1M | $185.5M | $198.3M |
| Imobilizado | $25.2M | $20.1M | $22.3M | $25.3M | $37.1M | $63.8M | $64.9M | $70.7M | $62.7M | $52.9M |
| Ágio | 0 | $2.4M | $2.3M | $33.0M | $33.2M | $33.0M | $32.9M | $10.1M | $9.5M | $10.7M |
| Ativos Intangíveis | $241000 | $4.7M | $3.8M | $77.5M | $68.8M | $60.1M | $177000 | $34.6M | $30.5M | $30.8M |
| Ativos Totais | $214.0M | $275.1M | $375.9M | $447.3M | $461.9M | $489.5M | $405.0M | $326.2M | $296.2M | $298.6M |
| Contas a Pagar | $5.7M | $9.5M | $13.7M | $16.4M | $12.5M | $10.3M | $18.2M | $13.5M | $16.6M | $20.3M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Circulantes | $22.8M | $33.9M | $46.6M | $50.2M | $56.7M | $61.5M | $65.3M | $72.5M | $76.7M | $63.5M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Totais | $32.0M | $48.0M | $65.5M | $102.7M | $112.2M | $119.3M | $107.6M | $121.4M | $122.3M | $106.4M |
| Reservas | -$12.4M | $8.6M | $60.5M | $81.4M | $75.6M | $69.3M | -$14.5M | -$116.9M | -$152.8M | -$175.6M |
| Patrimônio Líquido | $182.1M | $227.0M | $310.4M | $344.6M | $349.6M | $370.2M | $297.4M | $204.8M | $173.9M | $192.2M |
| Dívida Total | 0 | 0 | 0 | $6.7M | $10.0M | $26.7M | $23.3M | $21.9M | $19.4M | $17.5M |
| Dívida Líquida | -$113.9M | -$173.9M | -$240.3M | -$202.4M | -$221.2M | -$218.8M | -$163.7M | -$106.5M | -$94.4M | -$102.1M |
| Capital de Giro | $138.7M | $194.6M | $268.0M | $242.0M | $249.0M | $267.7M | $239.3M | $134.6M | $108.8M | $134.8M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $107.8M | $103.7M | $94.4M | $87.3M |
| Ativos Totais | $307.0M | $298.6M | $285.9M | $285.6M |
| Passivos Totais | $109.8M | $106.4M | $103.0M | $110.7M |
| Patrimônio Líquido | $197.2M | $192.2M | $182.9M | $174.9M |
| Dívida Total | $18.2M | $17.5M | $16.9M | $15.8M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $20.5M | $21.0M | $51.8M | $20.9M | -$5.8M | -$6.3M | -$83.8M | -$102.4M | -$35.9M | -$22.7M |
| Depreciação e Amortização | $13.6M | $12.3M | $11.3M | $13.8M | $18.6M | $21.6M | $23.5M | $18.2M | $21.0M | $20.7M |
| Compensação em Ações | $7.3M | $9.6M | $12.8M | $9.1M | $8.2M | $10.9M | $12.3M | $7.4M | $7.4M | $8.0M |
| Variação Capital de Giro | -$34.3M | -$10.6M | -$25.6M | -$27.9M | -$31000 | -$20.1M | -$44.7M | $14.3M | -$4.4M | -$26.9M |
| Fluxo de Caixa Operacional | $31.0M | $60.5M | $60.0M | $40.6M | $37.0M | $23.6M | -$37.5M | -$3.2M | $5.9M | -$11.2M |
| CapEx | -$8.0M | -$10.2M | -$13.0M | -$6.5M | -$17.3M | -$23.9M | -$21.2M | -$26.5M | -$17.1M | -$10.4M |
| Aquisições | -$113000 | -$4.5M | $350000 | -$70.4M | $163000 | $153000 | $331000 | -$29.4M | 0 | 0 |
| Recompra de Ações | 0 | 0 | -$1.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $23.0M | $50.3M | $47.0M | $34.1M | $19.7M | -$302000 | -$58.8M | -$29.8M | -$11.2M | -$21.6M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $2.2M | -$943000 | -$6.7M | $2.9M |
| CapEx | -$2.1M | -$2.4M | -$781000 | -$1.9M |
| Fluxo de Caixa Livre | $64000 | -$3.3M | -$7.5M | $1.0M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $1.8M | $1.8M | $1.9M | $1.8M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +23.0% | +43.6% | +1.1% | -14.8% | +16.1% | +5.4% | -16.3% | +6.4% | +3.9% |
| Crescimento Lucro Líquido (anual) | | +2.4% | +146.9% | -59.6% | -127.8% | -8.6% | -1222.8% | -22.3% | +65.0% | +36.6% |
| Crescimento LPA (anual) | | +0.0% | +125.5% | -58.3% | -128.1% | -3.7% | -1210.7% | -20.4% | +65.6% | +44.1% |
| Variação de Ações (anual) | | +3.8% | +2.8% | -1.2% | -1.2% | +2.3% | +1.6% | +1.4% | +2.1% | +14.9% |
| Crescimento FCF (anual) | | +118.4% | -6.5% | -27.5% | -42.3% | -101.5% | -19355.0% | +49.4% | +62.4% | -93.2% |
| Margem Bruta | 48.0% | 48.6% | 49.9% | 47.5% | 44.8% | 49.3% | 40.7% | 40.1% | 46.1% | 47.6% |
| Margem Operacional | 11.3% | 11.1% | 10.6% | 5.5% | -3.9% | 2.6% | -22.6% | -34.7% | -12.7% | -8.7% |
| Margem EBITDA | 18.0% | 16.0% | 13.7% | 9.3% | 2.1% | 8.5% | -2.5% | -18.5% | -4.6% | -0.8% |
| Margem Líquida | 10.1% | 8.4% | 14.5% | 5.8% | -1.9% | -1.8% | -22.2% | -32.5% | -10.7% | -6.5% |
| Margem FCF | 11.3% | 20.2% | 13.1% | 9.4% | 6.4% | -0.1% | -15.6% | -9.4% | -3.3% | -6.2% |
| Taxa Efetiva de Imposto | 9.7% | 29.2% | -28.2% | 13.7% | -10.4% | 173.1% | -0.6% | -0.1% | 1.6% | 2.7% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.09 | $2.30 | $2.09 | $1.53 | $0.89 | $-0.01 | $-2.57 | $-1.28 | $-0.47 | $-0.79 |
| 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) | $20.1M | $20.7M | $22.5M | $21.8M | $22.0M | $22.5M | $22.9M | $23.2M | $23.7M | $27.2M |
O que olhar em Saúde / Farma
O pipeline de I+D é o ativo invisível. Patentes a caducar = receitas a evaporar. Olha inovação e fluxo de caixa.
- I+D / Receita — Indica investimento em pipeline futuro. Farma séria reinveste 15-20%
- Crescimento EPS 5 anos — Após expiração de patentes, ainda crescem?
- Margem bruta — Farma de marca >70%. Genéricos muito mais baixo — define o tipo de negócio
- FCF / Net Income — Qualidade do lucro — farma grande deveria converter >90%
- ROIC — Capital reinvestido com eficiência — chave em farma por ciclos longos de I+D
- Dívida líquida / EBITDA — Aquisições farmacêuticas geram muita dívida — atenção ao pós-M&A
- P/E vs histórico 10 anos próprio — A melhor comparação é com o próprio histórico, não com pares
Rentabilidade
| Retorno sobre patrimônio | -13.17% |
| Retorno sobre capital investido | -13.35% |
| Retorno sobre ativos | -8.61% |
| Margem bruta | 48.89% |
| Margem operacional | -8.45% |
| Margem líquida | -6.94% |
Saúde financeira
| Dívida / Patrimônio | 0.09 |
| Liquidez corrente | 2.74 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 1.58 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 65.85 | 116.75 | 53.99 | 71.18 | -165.48 | -121.43 | -5.37 | -1.24 | -6.03 | -7.91 |
| P/VP | 7.40 | 10.85 | 9.01 | 4.33 | 2.81 | 2.07 | 1.51 | 0.62 | 1.25 | 0.95 |
| P/V | 6.65 | 9.87 | 7.81 | 4.12 | 3.18 | 2.14 | 1.19 | 0.40 | 0.65 | 0.52 |
| Margem Bruta | 48.0% | 48.6% | 49.9% | 47.5% | 44.8% | 49.3% | 40.7% | 40.1% | 46.1% | 47.6% |
| Margem Operacional | 11.3% | 11.1% | 10.6% | 5.5% | -3.9% | 2.6% | -22.6% | -34.7% | -12.7% | -8.7% |
| Margem Líquida | 10.1% | 8.4% | 14.5% | 5.8% | -1.9% | -1.8% | -22.2% | -32.5% | -10.7% | -6.5% |