Demonstrações financeiras detalhadas de Natural Alternatives International, Inc. (NAII): 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
Natural Alternatives International, Inc. registou receitas de $129.9M no último exercício, com um CAGR de 5 anos de 1.8%.
Margens dos últimos 12 meses: margem bruta 7.0%, margem operacional -5.7%, margem líquida -10.2%.
Ao preço atual de $1.96, NAII apresenta lucros negativos (P/L não significativo) e um ROE de -21.48%. A capitalização de mercado é de $12M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $114.2M | $121.9M | $132.4M | $138.3M | $118.9M | $178.5M | $171.0M | $154.0M | $113.8M | $129.9M |
| Custo da Receita | $88.9M | $95.7M | $106.1M | $114.7M | $100.0M | $148.1M | $140.5M | $135.9M | $106.9M | $120.6M |
| Lucro Bruto | $25.3M | $26.2M | $26.3M | $23.6M | $18.9M | $30.4M | $30.5M | $18.2M | $6.9M | $9.3M |
| P&D | $1.1M | $1.6M | $1.5M | $1.8M | $1.8M | $1.9M | $2.5M | $2.1M | $1.9M | $1.8M |
| Despesas Gerais e Administrativas | $13.0M | $16.5M | $16.8M | $17.6M | $18.4M | $16.8M | $16.9M | $14.9M | $15.4M | $16.5M |
| Despesas Operacionais | $13.0M | $16.5M | $16.8M | $17.6M | $20.4M | $16.8M | $16.8M | $13.4M | $15.4M | $17.9M |
| Lucro Operacional | $12.3M | $9.7M | $9.5M | $6.0M | -$1.5M | $13.7M | $13.7M | $4.7M | -$8.5M | -$8.7M |
| EBITDA | $16.0M | $16.3M | $15.3M | $11.8M | $4.5M | $16.6M | $20.7M | $11.1M | -$4.5M | -$2.7M |
| Despesas com Juros | 0 | $3000 | $9000 | $29000 | $67000 | $118000 | $83000 | $451000 | $361000 | $915000 |
| Lucro Antes de Impostos | $13.6M | $10.1M | $10.6M | $8.0M | -$1.7M | $12.1M | $13.7M | $3.6M | -$9.5M | -$10.7M |
| Imposto | $4.0M | $2.9M | $5.6M | $1.4M | -$93000 | $1.4M | $2.9M | $1.0M | -$2.2M | $2.8M |
| Lucro Líquido | $9.5M | $7.2M | $5.1M | $6.5M | -$1.6M | $10.8M | $10.7M | $2.5M | -$7.2M | -$13.6M |
| LPA | $1.46 | $1.10 | $0.76 | $0.96 | $-0.25 | $1.71 | $1.75 | $0.43 | $-1.23 | $-2.28 |
| LPA Diluído | $1.44 | $1.09 | $0.73 | $0.92 | $-0.25 | $1.69 | $1.74 | $0.43 | $-1.23 | $-2.28 |
| Ações em Circulação (Diluídas) | $6.6M | $6.7M | $6.9M | $7.1M | $6.7M | $6.4M | $6.2M | $5.9M | $5.9M | $5.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Receita | $33.9M | $37.3M | $34.5M | $35.3M |
| Lucro Bruto | $3.5M | $4.0M | $2.2M | $196000 |
| Lucro Operacional | -$1.9M | -$17000 | -$2.0M | -$4.1M |
| EBITDA | $616000 | $1.2M | -$939000 | -$2.8M |
| Lucro Líquido | -$7.2M | -$291000 | -$2.6M | -$4.3M |
| LPA | $-1.17 | $-0.05 | $-0.42 | $-0.72 |
| LPA Diluído | $-1.17 | $-0.05 | $-0.42 | $-0.72 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $19.7M | $27.8M | $23.6M | $25.0M | $30.5M | $32.1M | $21.8M | $13.6M | $12.0M | $12.3M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $13.2M | $8.7M | $14.6M | $16.9M | $17.8M | $19.0M | $17.5M | $7.3M | $16.9M | $14.9M |
| Estoque | $20.8M | $13.7M | $23.6M | $26.0M | $28.0M | $27.0M | $32.5M | $29.7M | $24.2M | $24.9M |
| Ativos Circulantes | $55.9M | $51.7M | $65.2M | $71.4M | $79.0M | $80.3M | $76.7M | $57.0M | $61.6M | $59.3M |
| Imobilizado | $15.2M | $18.1M | $19.3M | $21.1M | $39.9M | $38.1M | $66.3M | $74.2M | $95.7M | $91.9M |
| Ágio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Totais | $74.2M | $72.6M | $85.2M | $93.5M | $120.2M | $120.3M | $146.0M | $134.2M | $162.3M | $151.9M |
| Contas a Pagar | $12.8M | $5.1M | $9.6M | $8.6M | $12.5M | $11.9M | $16.2M | $7.8M | $12.7M | $15.4M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | $10.0M | 0 | $302000 | $312000 | $3.7M | $2.2M |
| Passivos Circulantes | $19.2M | $10.3M | $14.3M | $14.2M | $27.8M | $22.1M | $23.9M | $15.9M | $23.5M | $28.8M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | $9.5M | $9.2M | $8.9M | $8.6M |
| Passivos Totais | $20.4M | $11.5M | $17.0M | $17.4M | $48.8M | $40.2M | $57.5M | $45.4M | $79.7M | $83.5M |
| Reservas | $38.6M | $45.8M | $50.8M | $57.4M | $56.2M | $66.9M | $77.7M | $80.2M | $73.0M | $59.4M |
| Patrimônio Líquido | $53.7M | $61.1M | $68.2M | $76.1M | $71.4M | $80.1M | $88.5M | $88.8M | $82.6M | $68.4M |
| Dívida Total | 0 | 0 | 0 | 0 | $28.8M | $16.5M | $31.8M | $30.9M | $60.3M | $59.0M |
| Dívida Líquida | -$19.7M | -$27.8M | -$23.6M | -$25.0M | -$1.7M | -$15.7M | $10.0M | $17.3M | $48.3M | $46.7M |
| Capital de Giro | $36.7M | $41.4M | $50.9M | $57.1M | $51.2M | $58.3M | $52.9M | $41.1M | $38.1M | $30.5M |
Balanço (Trimestral)
| Ano | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Caixa e Equivalentes | $12.3M | $7.7M | $3.8M | $9.2M |
| Ativos Totais | $151.9M | $156.9M | $153.3M | $154.9M |
| Passivos Totais | $83.5M | $87.9M | $86.3M | $91.8M |
| Patrimônio Líquido | $68.4M | $69.0M | $67.0M | $63.1M |
| Dívida Total | $59.0M | $104.3M | $106.5M | $65.2M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $9.5M | $7.2M | $5.1M | $6.5M | -$1.6M | $10.8M | $10.7M | $2.5M | -$7.2M | -$13.6M |
| Depreciação e Amortização | $1.8M | $2.4M | $2.9M | $3.5M | $4.0M | $4.3M | $4.2M | $4.2M | $4.6M | $4.6M |
| Compensação em Ações | $724000 | $1.0M | $1.3M | $1.7M | $1.7M | $1.4M | $968000 | $1.0M | $1.2M | $977000 |
| Variação Capital de Giro | -$809000 | $2.9M | -$10.4M | -$5.5M | -$5.6M | $1.1M | -$7.4M | -$1.2M | -$3.3M | $1.6M |
| Fluxo de Caixa Operacional | $9.3M | $14.1M | $1.8M | $6.6M | $3.7M | $20.8M | $11.9M | $7.0M | -$1.5M | $5.9M |
| CapEx | -$10.4M | -$5.4M | -$4.1M | -$5.3M | -$4.5M | -$5.1M | -$26.5M | -$13.5M | -$3.0M | -$3.6M |
| Aquisições | $3.0M | $25000 | $28000 | $19000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Ações | -$648000 | -$712000 | -$510000 | -$1.4M | -$3.7M | -$4.1M | -$5.5M | -$1.5M | -$221000 | -$178000 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | -$1.2M | $8.8M | -$2.2M | $1.2M | -$850000 | $15.7M | -$14.6M | -$6.5M | -$4.5M | $2.3M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 |
|---|
| Fluxo de Caixa Operacional | $3.3M | -$4.0M | -$6.3M | $2.5M |
| CapEx | -$1.5M | -$1.0M | -$934000 | -$1.1M |
| Fluxo de Caixa Livre | $1.9M | -$5.1M | -$7.3M | $1.4M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $179000 | $177000 | $176000 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +6.8% | +8.6% | +4.4% | -14.0% | +50.2% | -4.2% | -9.9% | -26.1% | +14.1% |
| Crescimento Lucro Líquido (anual) | | -24.2% | -30.2% | +29.5% | -125.1% | +754.6% | -0.5% | -76.5% | -386.2% | -88.1% |
| Crescimento LPA (anual) | | -24.7% | -30.9% | +26.3% | -126.0% | +784.0% | +2.3% | -75.4% | -386.0% | -85.4% |
| Variação de Ações (anual) | | +0.2% | +3.5% | +3.1% | -5.7% | -4.7% | -3.5% | -4.5% | -0.1% | +1.3% |
| Crescimento FCF (anual) | | +859.8% | -125.6% | +155.0% | -168.7% | +1946.9% | -193.1% | +55.5% | +30.6% | +151.4% |
| Margem Bruta | 22.1% | 21.5% | 19.9% | 17.0% | 15.9% | 17.1% | 17.8% | 11.8% | 6.0% | 7.2% |
| Margem Operacional | 10.7% | 8.0% | 7.2% | 4.3% | -1.3% | 7.7% | 8.0% | 3.1% | -7.5% | -6.7% |
| Margem EBITDA | 14.0% | 13.4% | 11.6% | 8.6% | 3.7% | 9.3% | 12.1% | 7.2% | -3.9% | -2.1% |
| Margem Líquida | 8.4% | 5.9% | 3.8% | 4.7% | -1.4% | 6.0% | 6.3% | 1.6% | -6.3% | -10.5% |
| Margem FCF | -1.0% | 7.2% | -1.7% | 0.9% | -0.7% | 8.8% | -8.6% | -4.2% | -4.0% | 1.8% |
| Taxa Efetiva de Imposto | 29.7% | 28.4% | 52.4% | 17.8% | 5.4% | 11.2% | 21.6% | 29.1% | 23.7% | -26.4% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-0.17 | $1.32 | $-0.33 | $0.17 | $-0.13 | $2.46 | $-2.38 | $-1.11 | $-0.77 | $0.39 |
| 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) | $6.5M | $6.6M | $6.6M | $6.8M | $6.7M | $6.3M | $6.1M | $5.9M | $5.9M | $5.9M |
O que olhar em empresas de Consumer Defensive
- Margem bruta (estável 5a) (Estável ≥35%) — Pricing power de marca — Coca-Cola não perde margem mesmo em crise.
- ROE / ROIC estáveis (ROE ≥15% estável) — Defensivas têm ROE alto consistente — os 'stalwarts' de Lynch.
- FCF / Lucro Líquido (≥90%) — Conversão de lucro em caixa — os melhores superam 95%.
- Crescimento do dividendo 10a (≥6%/ano) — Dividend Aristocrats sobem 25+ anos — sinal de moat.
- Payout Ratio (<75%) — >80% = dividendo em risco. <60% confortável.
- Dívida Líquida / EBITDA (<2,5x) — Uma defensiva com muita dívida perde a sua essência.
Rentabilidade
| Retorno sobre patrimônio | -21.48% |
| Retorno sobre capital investido | -6.31% |
| Retorno sobre ativos | -9.28% |
| Margem bruta | 7.04% |
| Margem operacional | -5.74% |
| Margem líquida | -10.19% |
Saúde financeira
| Dívida / Patrimônio | 1.03 |
| Liquidez corrente | 1.64 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 7.56 | 9.05 | 13.36 | 12.25 | -27.36 | 9.84 | 5.97 | 16.74 | -4.63 | -1.44 |
| P/VP | 1.34 | 1.07 | 0.99 | 1.05 | 0.64 | 1.32 | 0.72 | 0.48 | 0.40 | 0.29 |
| P/V | 0.63 | 0.54 | 0.51 | 0.58 | 0.39 | 0.59 | 0.37 | 0.27 | 0.29 | 0.15 |
| Margem Bruta | 22.1% | 21.5% | 19.9% | 17.0% | 15.9% | 17.1% | 17.8% | 11.8% | 6.0% | 7.2% |
| Margem Operacional | 10.7% | 8.0% | 7.2% | 4.3% | -1.3% | 7.7% | 8.0% | 3.1% | -7.5% | -6.7% |
| Margem Líquida | 8.4% | 5.9% | 3.8% | 4.7% | -1.4% | 6.0% | 6.3% | 1.6% | -6.3% | -10.5% |