Demonstrações financeiras detalhadas de Minerals Technologies Inc. (MTX): 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
Minerals Technologies Inc. registou receitas de $2.07B no último exercício, com um CAGR de 5 anos de 5.4%.
Margens dos últimos 12 meses: margem bruta 24.5%, margem operacional -0.3%, margem líquida -3.1%. O fluxo de caixa livre cresceu a CAGR de -12.1% em 5 anos.
Ao preço atual de $68.92, MTX apresenta lucros negativos (P/L não significativo) e um ROE de -4.04%. A capitalização de mercado é de $2.1B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $1.64B | $1.68B | $1.81B | $1.79B | $1.59B | $1.86B | $2.13B | $2.17B | $2.12B | $2.07B |
| Custo da Receita | $1.19B | $1.22B | $1.35B | $1.36B | $1.20B | $1.42B | $1.67B | $1.68B | $1.58B | $1.57B |
| Lucro Bruto | $452.2M | $459.2M | $452.6M | $431.5M | $396.1M | $435.9M | $452.3M | $494.4M | $535.6M | $506.6M |
| P&D | $23.8M | $23.7M | $22.7M | $20.3M | $19.9M | $19.5M | $20.4M | $21.2M | $23.0M | $22.9M |
| Despesas Gerais e Administrativas | $171.2M | $172.7M | $169.8M | $178.4M | $167.2M | $175.6M | $179.4M | $193.3M | $227.1M | $196.6M |
| Despesas Operacionais | $195.0M | $196.4M | $192.5M | $198.7M | $187.1M | $195.1M | $199.8M | $214.5M | $250.1M | $219.5M |
| Lucro Operacional | $257.2M | $262.8M | $260.1M | $232.8M | $209.0M | $240.8M | $252.5M | $279.9M | $285.5M | $287.1M |
| EBITDA | $319.1M | $321.2M | $340.5M | $309.3M | $279.9M | $345.1M | $307.3M | $278.1M | $393.4M | $155.6M |
| Despesas com Juros | $54.4M | $43.4M | $45.9M | $45.4M | $40.1M | $40.6M | $47.3M | $63.1M | $62.2M | $59.8M |
| Lucro Antes de Impostos | $172.4M | $192.4M | $207.6M | $159.2M | $140.2M | $205.1M | $158.4M | $112.0M | $230.3M | -$9.1M |
| Imposto | $35.3M | -$6.6M | $34.4M | $22.8M | $24.4M | $36.6M | $32.1M | $23.7M | $59.4M | $4.9M |
| Lucro Líquido | $133.4M | $195.1M | $169.0M | $132.7M | $112.4M | $164.4M | $122.2M | $84.1M | $167.1M | -$18.4M |
| LPA | $3.82 | $5.54 | $4.79 | $3.79 | $3.29 | $4.89 | $3.74 | $2.59 | $5.21 | $-0.59 |
| LPA Diluído | $3.79 | $5.48 | $4.75 | $3.78 | $3.29 | $4.86 | $3.73 | $2.58 | $5.17 | $-0.59 |
| Ações em Circulação (Diluídas) | $35.2M | $35.6M | $35.6M | $35.1M | $34.2M | $33.8M | $32.8M | $32.6M | $32.3M | $31.4M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q2 | 2026-Q3 |
|---|
| Receita | $532.4M | $519.5M | $546.9M | $548.4M |
| Lucro Bruto | $137.0M | $124.5M | $131.1M | $133.8M |
| Lucro Operacional | $78.4M | $62.0M | $67.5M | -$215.4M |
| EBITDA | $97.8M | $84.2M | $86.7M | -$191.9M |
| Lucro Líquido | $43.0M | $37.1M | $36.2M | -$183.6M |
| LPA | $1.37 | $1.19 | $1.17 | $-5.91 |
| LPA Diluído | $1.37 | $1.19 | $1.17 | $-5.91 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $188.5M | $212.2M | $208.8M | $241.6M | $367.7M | $299.5M | $247.2M | $317.2M | $333.1M | $329.0M |
| Investimentos de Curto Prazo | $2.0M | $2.7M | $3.8M | $1.6M | $4.1M | $4.9M | $5.6M | $4.3M | $4.0M | $3.6M |
| Contas a Receber | $341.3M | $383.0M | $387.3M | $376.2M | $369.0M | $367.8M | $404.0M | $399.1M | $385.2M | $400.1M |
| Estoque | $186.9M | $219.3M | $239.2M | $253.3M | $248.2M | $298.3M | $348.8M | $325.4M | $342.1M | $350.2M |
| Ativos Circulantes | $751.1M | $852.2M | $876.3M | $919.2M | $1.03B | $1.03B | $1.07B | $1.10B | $1.13B | $1.16B |
| Imobilizado | $1.05B | $1.06B | $1.10B | $1.10B | $1.09B | $1.10B | $1.10B | $1.03B | $1.04B | $1.07B |
| Ágio | $778.7M | $779.3M | $812.4M | $807.4M | $808.5M | $905.9M | $914.8M | $913.6M | $913.8M | $915.9M |
| Ativos Intangíveis | $204.4M | $196.5M | $214.1M | $203.0M | $195.8M | $252.6M | $241.9M | $231.0M | $218.1M | $208.7M |
| Ativos Totais | $2.86B | $2.97B | $3.09B | $3.11B | $3.21B | $3.37B | $3.40B | $3.35B | $3.39B | $3.47B |
| Contas a Pagar | $144.9M | $179.0M | $169.1M | $163.4M | $148.3M | $196.1M | $193.8M | $188.7M | $185.5M | $187.9M |
| Dívida de Curto Prazo | $12.9M | $10.1M | $108.5M | $115.2M | $12.7M | $92.5M | $147.7M | $116.9M | $26.1M | $23.2M |
| Passivos Circulantes | $295.5M | $310.0M | $381.9M | $398.5M | $295.8M | $419.8M | $502.6M | $457.3M | $397.7M | $555.4M |
| Dívida de Longo Prazo | $1.07B | $959.8M | $907.8M | $824.3M | $933.2M | $936.2M | $928.1M | $911.1M | $959.6M | $988.8M |
| Passivos Totais | $1.83B | $1.69B | $1.70B | $1.68B | $1.71B | $1.79B | $1.79B | $1.66B | $1.61B | $1.72B |
| Reservas | $1.42B | $1.61B | $1.77B | $1.91B | $2.01B | $2.17B | $2.28B | $2.36B | $2.51B | $2.48B |
| Patrimônio Líquido | $1.01B | $1.25B | $1.35B | $1.40B | $1.46B | $1.54B | $1.58B | $1.65B | $1.75B | $1.71B |
| Dívida Total | $1.08B | $969.9M | $1.02B | $982.8M | $995.1M | $1.08B | $1.12B | $1.07B | $1.02B | $1.05B |
| Dívida Líquida | $892.3M | $755.0M | $803.7M | $739.6M | $623.3M | $771.5M | $866.9M | $744.4M | $687.3M | $713.2M |
| Capital de Giro | $455.6M | $542.2M | $494.4M | $520.7M | $737.8M | $609.3M | $567.9M | $641.7M | $733.3M | $600.2M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q2 | 2026-Q3 |
|---|
| Caixa e Equivalentes | $319.6M | $329.0M | $315.9M | $342.2M |
| Ativos Totais | $3.46B | $3.47B | $3.47B | $3.50B |
| Passivos Totais | $1.75B | $1.72B | $1.70B | $1.92B |
| Patrimônio Líquido | $1.68B | $1.71B | $1.73B | $1.54B |
| Dívida Total | $977.7M | $1.05B | $966.2M | $964.9M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $133.4M | $195.1M | $169.0M | $132.7M | $112.4M | $164.4M | $122.2M | $84.1M | $167.1M | -$18.4M |
| Depreciação e Amortização | $94.4M | $86.9M | $90.5M | $106.6M | $101.8M | $102.2M | $103.3M | $107.3M | $107.6M | $104.9M |
| Compensação em Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Variação Capital de Giro | -$30.7M | -$32.8M | -$102.1M | -$38.9M | -$9.7M | -$68.1M | -$138.4M | -$21.7M | -$63.9M | -$97.8M |
| Fluxo de Caixa Operacional | $225.1M | $207.6M | $202.1M | $238.3M | $240.6M | $232.4M | $105.7M | $233.6M | $236.4M | $193.7M |
| CapEx | -$62.4M | -$76.7M | -$75.9M | -$65.0M | -$76.0M | -$86.0M | -$82.3M | -$93.5M | -$89.5M | -$107.1M |
| Aquisições | $1.4M | $1.4M | -$117.9M | $600000 | $2.4M | -$193.7M | -$21.4M | -$1.6M | $8.3M | $6.8M |
| Recompra de Ações | -$2.6M | -$700000 | -$21.7M | -$41.0M | -$40.7M | -$74.7M | -$56.0M | -$14.2M | -$63.6M | -$58.5M |
| Dividendos Pagos | -$7.0M | -$7.0M | -$7.1M | -$7.0M | -$6.8M | -$6.8M | -$6.5M | -$8.1M | -$13.2M | -$14.2M |
| Fluxo de Caixa Livre | $162.7M | $130.9M | $126.2M | $173.3M | $164.6M | $146.4M | $23.4M | $140.1M | $146.9M | $86.6M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q2 | 2026-Q3 |
|---|
| Fluxo de Caixa Operacional | $70.9M | $64.3M | $32.1M | $63.0M |
| CapEx | -$27.3M | -$32.4M | -$23.1M | -$27.2M |
| Fluxo de Caixa Livre | $43.6M | $31.9M | $9.0M | $35.8M |
| Dividendos Pagos | -$3.4M | -$3.8M | -$3.7M | -$3.8M |
| Compensação em Ações | 0 | 0 | 0 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +2.3% | +7.9% | -0.9% | -11.0% | +16.5% | +14.4% | +2.1% | -2.4% | -2.2% |
| Crescimento Lucro Líquido (anual) | | +46.3% | -13.4% | -21.5% | -15.3% | +46.3% | -25.7% | -31.2% | +98.7% | -111.0% |
| Crescimento LPA (anual) | | +45.0% | -13.5% | -20.9% | -13.2% | +48.6% | -23.5% | -30.7% | +101.2% | -111.3% |
| Variação de Ações (anual) | | +1.1% | +0.0% | -1.4% | -2.6% | -1.2% | -3.0% | -0.6% | -0.9% | -2.8% |
| Crescimento FCF (anual) | | -19.5% | -3.6% | +37.3% | -5.0% | -11.1% | -84.0% | +498.7% | +4.9% | -41.0% |
| Margem Bruta | 27.6% | 27.4% | 25.0% | 24.1% | 24.8% | 23.5% | 21.3% | 22.8% | 25.3% | 24.4% |
| Margem Operacional | 15.7% | 15.7% | 14.4% | 13.0% | 13.1% | 13.0% | 11.9% | 12.9% | 13.5% | 13.9% |
| Margem EBITDA | 19.5% | 19.2% | 18.8% | 17.3% | 17.6% | 18.6% | 14.5% | 12.8% | 18.6% | 7.5% |
| Margem Líquida | 8.1% | 11.6% | 9.3% | 7.4% | 7.0% | 8.8% | 5.7% | 3.9% | 7.9% | -0.9% |
| Margem FCF | 9.9% | 7.8% | 7.0% | 9.7% | 10.3% | 7.9% | 1.1% | 6.5% | 6.9% | 4.2% |
| Taxa Efetiva de Imposto | 20.5% | -3.4% | 16.6% | 14.3% | 17.4% | 17.8% | 20.3% | 21.2% | 25.8% | -53.8% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $4.62 | $3.68 | $3.54 | $4.94 | $4.81 | $4.33 | $0.71 | $4.30 | $4.55 | $2.76 |
| Dividendo por Ação | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.20 | $0.25 | $0.41 | $0.45 |
| Ações em Circulação (Básicas) | $34.9M | $35.2M | $35.3M | $35.0M | $34.2M | $33.6M | $32.7M | $32.5M | $32.1M | $31.4M |
O que olhar em Basic Materials
Mineiras, químicas, aço. 100% commodity-driven. Analisar com P/E puro é um erro — olha posição de custos e sustentabilidade do dividendo.
- FCF yield — Em commodities o FCF é ouro — EPS engana muito
- Margem bruta — Margem bruta consistente 5 anos = sinal de moat
- Dívida líquida / EBITDA (vale) — Usar EBITDA do pior ano do ciclo, não o atual
- Cobertura dividendo — Dividendo coberto por FCF em ano médio, não no pico
- Capex / D&A — >1x = mantêm/crescem reservas. <0.7x = a descapitalizar
- Altman Z-Score — Modelo de falência (NYU 1968) — combina liquidez, alavancagem e rentabilidade. Chave em cíclicas
- P/B em ciclos — Commodities: 0.8-1.2x em vales, 2x+ em picos. <2x ainda zona razoável
Rentabilidade
| Retorno sobre patrimônio | -4.04% |
| Retorno sobre capital investido | -0.23% |
| Retorno sobre ativos | -1.93% |
| Margem bruta | 24.52% |
| Margem operacional | -0.35% |
| Margem líquida | -3.13% |
Saúde financeira
| Dívida / Patrimônio | 0.62 |
| Liquidez corrente | 1.43 |
| Piotroski F-Score | 3 |
| Altman Z-Score | 2.75 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 20.22 | 12.43 | 10.72 | 15.21 | 18.88 | 14.96 | 16.24 | 27.53 | 14.63 | -103.31 |
| P/VP | 2.68 | 1.94 | 1.34 | 1.44 | 1.45 | 1.60 | 1.26 | 1.40 | 1.40 | 1.12 |
| P/V | 1.65 | 1.45 | 1.00 | 1.13 | 1.33 | 1.32 | 0.93 | 1.07 | 1.15 | 0.92 |
| Margem Bruta | 27.6% | 27.4% | 25.0% | 24.1% | 24.8% | 23.5% | 21.3% | 22.8% | 25.3% | 24.4% |
| Margem Operacional | 15.7% | 15.7% | 14.4% | 13.0% | 13.1% | 13.0% | 11.9% | 12.9% | 13.5% | 13.9% |
| Margem Líquida | 8.1% | 11.6% | 9.3% | 7.4% | 7.0% | 8.8% | 5.7% | 3.9% | 7.9% | -0.9% |