Demonstrações financeiras detalhadas de MIND C.T.I. Ltd (MNDO): 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
MIND C.T.I. Ltd registou receitas de $19.5M no último exercício, com um CAGR de 5 anos de -3.6%. O lucro líquido atingiu $2.6M, com CAGR de 5 anos de -13.5%.
Margens dos últimos 12 meses: margem bruta 54.4%, margem operacional 15.8%, margem líquida 16.9%. O fluxo de caixa livre cresceu a CAGR de -9.2% em 5 anos.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $18.1M | $18.1M | $18.1M | $22.7M | $23.4M | $26.3M | $21.6M | $21.6M | $21.4M | $19.5M |
| Custo da Receita | $6.8M | $7.0M | $6.1M | $10.1M | $11.2M | $12.4M | $10.0M | $10.7M | $10.7M | $9.5M |
| Lucro Bruto | $11.2M | $11.0M | $12.0M | $12.5M | $12.2M | $13.9M | $11.5M | $10.9M | $10.7M | $9.9M |
| P&D | $3.5M | $3.4M | $3.7M | $4.2M | $4.0M | $4.0M | $3.5M | $3.5M | $3.4M | $4.1M |
| Despesas Gerais e Administrativas | $2.5M | $2.9M | $2.9M | $3.3M | $2.8M | $3.0M | $2.5M | $2.6M | $3.0M | $3.8M |
| Despesas Operacionais | $6.0M | $6.3M | $6.6M | $7.5M | $6.8M | $7.1M | $6.0M | $6.1M | $6.4M | $7.8M |
| Lucro Operacional | $5.2M | $4.7M | $5.3M | $5.0M | $5.5M | $6.8M | $5.5M | $4.7M | $4.4M | $2.1M |
| EBITDA | $5.5M | $6.3M | $5.7M | $5.7M | $6.1M | $7.1M | $5.9M | $5.7M | $5.2M | $3.0M |
| Despesas com Juros | $13000 | $14000 | $11000 | $14000 | $23000 | $49000 | $83000 | $27000 | $24000 | 0 |
| Lucro Antes de Impostos | $5.4M | $6.2M | $5.6M | $5.5M | $5.8M | $6.9M | $5.6M | $5.5M | $5.0M | $2.8M |
| Imposto | $1.2M | $597000 | $438000 | $458000 | $459000 | $936000 | $330000 | $359000 | $334000 | $163000 |
| Lucro Líquido | $4.2M | $5.6M | $5.1M | $5.1M | $5.4M | $5.9M | $5.3M | $5.2M | $4.6M | $2.6M |
| LPA | $0.22 | $0.29 | $0.27 | $0.26 | $0.27 | $0.30 | $0.26 | $0.26 | $0.23 | $0.13 |
| LPA Diluído | $0.22 | $0.29 | $0.26 | $0.25 | $0.27 | $0.29 | $0.26 | $0.25 | $0.23 | $0.13 |
| Ações em Circulação (Diluídas) | $19.3M | $19.6M | $19.6M | $20.0M | $20.1M | $20.3M | $20.4M | $20.5M | $20.6M | $20.6M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $4.8M | $4.9M | $5.1M | $4.6M |
| Lucro Bruto | $2.6M | $2.7M | $2.7M | $2.6M |
| Lucro Operacional | $644000 | $806000 | $920000 | $690000 |
| EBITDA | $810000 | $1.0M | $1.1M | $753000 |
| Lucro Líquido | $681000 | $950000 | $868000 | $775000 |
| LPA | $0.03 | $0.05 | $0.04 | $0.04 |
| LPA Diluído | $0.03 | $0.05 | $0.04 | $0.04 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $9.2M | $5.0M | $2.7M | $6.5M | $8.3M | $4.2M | $5.3M | $3.0M | $4.5M | $8.1M |
| Investimentos de Curto Prazo | $9.8M | $12.0M | $13.1M | $8.7M | $8.8M | $14.3M | $12.2M | $13.6M | $11.3M | $5.4M |
| Contas a Receber | $1.3M | $2.1M | $2.7M | $3.7M | $2.4M | $1.9M | $2.5M | $2.6M | $2.8M | $1.7M |
| Estoque | $5000 | $4000 | $4000 | $4000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $20.6M | $18.7M | $18.7M | $19.1M | $19.7M | $20.5M | $20.3M | $19.7M | $18.9M | $16.1M |
| Imobilizado | $498000 | $202000 | $164000 | $1.5M | $1.9M | $1.6M | $1.2M | $906000 | $1.0M | $1.0M |
| Ágio | $5.4M | $5.4M | $5.4M | $7.9M | $8.1M | $7.9M | $7.8M | $7.9M | $7.7M | $10.0M |
| Ativos Intangíveis | 0 | 0 | 0 | $761000 | $702000 | $522000 | $374000 | $265000 | $135000 | $1.4M |
| Ativos Totais | $29.0M | $26.7M | $26.0M | $31.1M | $32.4M | $33.1M | $31.7M | $31.6M | $30.7M | $30.2M |
| Contas a Pagar | $51000 | $113000 | $147000 | $1.7M | $1.3M | $839000 | $937000 | $989000 | $769000 | $546000 |
| Dívida de Curto Prazo | 0 | 0 | 0 | $292000 | $346000 | 0 | 0 | 0 | $188000 | $255000 |
| Passivos Circulantes | $5.4M | $3.8M | $3.4M | $6.3M | $5.6M | $5.6M | $5.2M | $4.5M | $3.3M | $4.2M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Totais | $7.7M | $5.6M | $5.0M | $9.2M | $9.3M | $9.4M | $7.9M | $7.1M | $6.4M | $7.1M |
| Reservas | -$2.3M | -$2.9M | -$3.1M | -$3.1M | -$2.5M | -$1.7M | -$1.7M | -$1.3M | -$1.6M | -$3.5M |
| Patrimônio Líquido | $21.3M | $21.0M | $21.0M | $21.9M | $23.1M | $23.7M | $23.8M | $24.5M | $24.3M | $23.0M |
| Dívida Total | 0 | 0 | 0 | $1.3M | $1.8M | $1.5M | $886000 | $642000 | $825000 | $929000 |
| Dívida Líquida | -$19.0M | -$17.0M | -$15.8M | -$13.9M | -$15.2M | -$17.0M | -$16.6M | -$16.0M | -$14.9M | -$12.6M |
| Capital de Giro | $15.2M | $14.9M | $15.3M | $12.8M | $14.0M | $14.9M | $15.1M | $15.2M | $15.6M | $11.9M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $5.2M | $8.1M | $3.7M | $3.1M |
| Ativos Totais | $29.4M | $30.2M | $30.6M | $30.1M |
| Passivos Totais | $7.2M | $7.1M | $7.0M | $6.0M |
| Patrimônio Líquido | $22.2M | $23.0M | $23.7M | $24.1M |
| Dívida Total | $961000 | $929000 | $854000 | $798000 |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $4.2M | $5.6M | $5.1M | $5.1M | $5.4M | $5.9M | $5.3M | $5.2M | $4.6M | $2.6M |
| Depreciação e Amortização | $161000 | $104000 | $84000 | $151000 | $200000 | $194000 | $193000 | $196000 | $186000 | $270000 |
| Compensação em Ações | $136000 | $182000 | $224000 | $200000 | $213000 | $171000 | $258000 | $281000 | $252000 | $199000 |
| Variação Capital de Giro | $614000 | -$2.2M | -$1.2M | $1.3M | $789000 | $604000 | -$1.3M | -$1.6M | -$946000 | $960000 |
| Fluxo de Caixa Operacional | $5.2M | $2.7M | $4.4M | $6.7M | $6.5M | $6.9M | $4.6M | $4.1M | $4.1M | $4.0M |
| CapEx | -$68000 | -$71000 | -$46000 | -$52000 | -$68000 | -$82000 | -$130000 | -$64000 | -$10000 | -$27000 |
| Aquisições | 0 | $1.2M | $105000 | -$2.3M | 0 | 0 | 0 | 0 | 0 | -$1.5M |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -$130000 |
| Dividendos Pagos | -$5.2M | -$6.2M | -$5.8M | -$5.1M | -$4.8M | -$5.2M | -$5.2M | -$4.8M | -$4.9M | -$4.5M |
| Fluxo de Caixa Livre | $5.2M | $2.7M | $4.4M | $6.6M | $6.4M | $6.8M | $4.4M | $4.0M | $4.1M | $4.0M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $1.2M | $1.2M | $608000 | $142783 |
| CapEx | -$10000 | -$7000 | -$2000 | -$1073 |
| Fluxo de Caixa Livre | $1.2M | $1.2M | $606000 | $141710 |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $47000 | $45000 | $39000 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +0.1% | +0.4% | +25.0% | +3.1% | +12.7% | -18.2% | +0.3% | -0.8% | -9.3% |
| Crescimento Lucro Líquido (anual) | | +33.5% | -8.5% | -1.3% | +6.3% | +10.5% | -11.1% | -2.3% | -10.4% | -43.8% |
| Crescimento LPA (anual) | | +31.8% | -6.9% | -3.7% | +3.8% | +11.1% | -13.3% | +0.0% | -11.5% | -43.5% |
| Variação de Ações (anual) | | +1.3% | +0.0% | +2.0% | +0.9% | +0.7% | +0.6% | +0.4% | +0.5% | +0.2% |
| Crescimento FCF (anual) | | -48.3% | +62.8% | +52.2% | -3.0% | +6.0% | -35.0% | -8.9% | +1.7% | -3.5% |
| Margem Bruta | 62.2% | 61.1% | 66.1% | 55.3% | 52.3% | 52.7% | 53.4% | 50.3% | 50.1% | 51.0% |
| Margem Operacional | 28.8% | 25.9% | 29.5% | 22.2% | 23.4% | 25.9% | 25.6% | 22.0% | 20.4% | 10.7% |
| Margem EBITDA | 30.7% | 35.0% | 31.2% | 25.1% | 25.9% | 27.1% | 27.3% | 26.6% | 24.1% | 15.6% |
| Margem Líquida | 23.3% | 31.1% | 28.3% | 22.3% | 23.0% | 22.6% | 24.5% | 23.9% | 21.6% | 13.4% |
| Margem FCF | 28.7% | 14.8% | 24.0% | 29.2% | 27.5% | 25.9% | 20.5% | 18.7% | 19.1% | 20.3% |
| Taxa Efetiva de Imposto | 21.8% | 9.6% | 7.9% | 8.3% | 7.9% | 13.6% | 5.9% | 6.5% | 6.7% | 5.9% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.27 | $0.14 | $0.22 | $0.33 | $0.32 | $0.34 | $0.22 | $0.20 | $0.20 | $0.19 |
| Dividendo por Ação | $0.27 | $0.32 | $0.30 | $0.25 | $0.24 | $0.26 | $0.26 | $0.24 | $0.24 | $0.22 |
| Ações em Circulação (Básicas) | $19.2M | $19.3M | $19.3M | $19.7M | $19.9M | $20.0M | $20.1M | $20.2M | $20.3M | $20.5M |
O que olhar em empresas de Technology
- 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
| Margem bruta | 54.40% |
| Margem operacional | 15.77% |
| Margem líquida | 16.87% |
Saúde financeira
| Dívida / Patrimônio | 0.03 |
| Liquidez corrente | 4.66 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 11.18 | 9.48 | 8.44 | 9.27 | 9.59 | 10.37 | 8.08 | 7.54 | 8.61 | 8.85 |
| P/VP | 2.22 | 2.52 | 2.10 | 2.17 | 2.23 | 2.62 | 1.77 | 1.61 | 1.65 | 1.02 |
| P/V | 2.62 | 2.94 | 2.43 | 2.10 | 2.21 | 2.36 | 1.96 | 1.83 | 1.87 | 1.21 |
| Margem Bruta | 62.2% | 61.1% | 66.1% | 55.3% | 52.3% | 52.7% | 53.4% | 50.3% | 50.1% | 51.0% |
| Margem Operacional | 28.8% | 25.9% | 29.5% | 22.2% | 23.4% | 25.9% | 25.6% | 22.0% | 20.4% | 10.7% |
| Margem Líquida | 23.3% | 31.1% | 28.3% | 22.3% | 23.0% | 22.6% | 24.5% | 23.9% | 21.6% | 13.4% |