Demonstrações financeiras detalhadas de National Bank Holdings Corporation (NBHC): 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
National Bank Holdings Corporation registou receitas de $583.9M no último exercício, com um CAGR de 5 anos de 10.5%. O lucro líquido atingiu $109.6M, com CAGR de 5 anos de 4.3%.
Margens dos últimos 12 meses: margem bruta 77.1%, margem operacional 21.7%, margem líquida 16.5%.
Ao preço atual de $41.31, NBHC negocia a um P/L de 15.96 e um ROE de 6.47%. A capitalização de mercado é de $1.9B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $200.4M | $203.6M | $292.2M | $327.8M | $353.9M | $306.2M | $346.5M | $553.6M | $594.3M | $583.9M |
| Custo da Receita | $38.5M | $31.1M | $29.2M | $48.4M | $42.7M | $4.5M | $54.6M | $141.8M | $199.6M | $180.0M |
| Lucro Bruto | $162.0M | $172.5M | $263.0M | $279.4M | $311.2M | $301.6M | $291.9M | $411.8M | $394.7M | $404.0M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $91.5M | $92.8M | $132.0M | $136.4M | $145.1M | $131.9M | $130.9M | $148.7M | $155.6M | $154.6M |
| Despesas Operacionais | $136.0M | $136.7M | $189.3M | $183.2M | $201.8M | $186.7M | $205.8M | $236.2M | $249.4M | $261.2M |
| Lucro Operacional | $26.0M | $35.9M | $73.7M | $96.2M | $109.4M | $115.0M | $86.2M | $175.6M | $145.2M | $142.7M |
| EBITDA | $40.2M | $48.8M | $85.2M | $111.2M | $123.8M | $128.6M | $102.6M | $199.5M | $169.4M | $164.5M |
| Despesas com Juros | $14.8M | $18.1M | $24.0M | $36.8M | $25.1M | $13.8M | $17.9M | $133.5M | $192.9M | $171.3M |
| Lucro Antes de Impostos | $26.0M | $35.9M | $73.7M | $96.2M | $109.4M | $115.0M | $86.2M | $175.6M | $145.2M | $133.6M |
| Imposto | $2.9M | $21.3M | $12.2M | $15.8M | $20.8M | $21.4M | $14.9M | $33.6M | $26.4M | $24.1M |
| Lucro Líquido | $23.1M | $14.6M | $61.5M | $80.4M | $88.6M | $93.6M | $71.3M | $142.0M | $118.8M | $109.6M |
| LPA | $0.81 | $0.54 | $2.00 | $2.57 | $2.87 | $3.04 | $2.20 | $3.74 | $3.10 | $2.86 |
| LPA Diluído | $0.79 | $0.53 | $1.96 | $2.55 | $2.85 | $3.01 | $2.18 | $3.72 | $3.08 | $2.85 |
| Ações em Circulação (Diluídas) | $27.5M | $27.0M | $31.4M | $31.5M | $31.1M | $31.1M | $32.7M | $38.1M | $38.4M | $38.2M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $151.9M | $140.8M | $177.1M | $127.6M |
| Lucro Bruto | $109.4M | $100.6M | $122.8M | $127.6M |
| Lucro Operacional | $43.1M | $28.2M | $25.9M | $32.6M |
| EBITDA | $50.7M | $30.1M | $34.9M | $43.8M |
| Lucro Líquido | $35.3M | $16.0M | $20.8M | $26.5M |
| LPA | $0.92 | $0.42 | $0.54 | $0.69 |
| LPA Diluído | $0.92 | $0.42 | $0.54 | $0.69 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $152.7M | $257.4M | $109.6M | $110.2M | $605.6M | $845.7M | $195.5M | $190.8M | $127.8M | $417.1M |
| Investimentos de Curto Prazo | $884.2M | $855.3M | $791.1M | $638.2M | $662.0M | $691.8M | $706.3M | $628.8M | $527.5M | $528.6M |
| Contas a Receber | $17.8M | $18.2M | $21.6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $1.05B | $1.13B | $922.3M | $748.4M | $1.27B | $1.54B | $901.8M | $819.7M | $655.4M | $945.7M |
| Imobilizado | $95.7M | $93.7M | $110.0M | $112.2M | $107.0M | $96.7M | $136.1M | $162.7M | $196.8M | $214.6M |
| Ágio | $59.6M | $59.6M | $115.0M | $115.0M | $115.0M | $115.0M | $279.1M | $306.0M | $306.0M | $306.0M |
| Ativos Intangíveis | $6.9M | $1.6M | $13.5M | $11.4M | $17.9M | $12.3M | $59.9M | $66.0M | $58.4M | $48.3M |
| Ativos Totais | $4.57B | $4.84B | $5.68B | $5.90B | $6.66B | $7.21B | $9.57B | $9.95B | $9.81B | $9.88B |
| Contas a Pagar | $5.0M | $5.8M | $7.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dívida de Curto Prazo | $92.0M | $130.5M | $66.0M | $56.9M | $22.9M | $22.8M | $20.2M | $19.6M | $18.9M | $17.4M |
| Passivos Circulantes | $3.98B | $4.13B | $4.63B | $4.79B | $5.70B | $6.25B | $7.89B | $8.21B | $8.26B | $3.46B |
| Dívida de Longo Prazo | $38.7M | $129.1M | $301.7M | $207.7M | 0 | $39.5M | $438.9M | $394.2M | $104.5M | $54.5M |
| Passivos Totais | $4.04B | $4.31B | $4.98B | $5.13B | $5.84B | $6.37B | $8.48B | $8.74B | $8.50B | $8.50B |
| Reservas | $55.5M | $60.8M | $107.0M | $164.1M | $223.2M | $289.9M | $330.7M | $433.1M | $508.9M | $572.5M |
| Patrimônio Líquido | $536.2M | $532.4M | $695.0M | $766.9M | $820.7M | $840.1M | $1.09B | $1.21B | $1.31B | $1.39B |
| Dívida Total | $130.7M | $259.6M | $367.7M | $264.6M | $22.9M | $62.2M | $459.1M | $413.8M | $123.4M | $71.9M |
| Dívida Líquida | -$906.3M | -$853.1M | -$533.0M | -$483.8M | -$1.24B | -$1.48B | -$442.7M | -$405.8M | -$532.0M | -$873.8M |
| Capital de Giro | -$2.92B | -$3.00B | -$3.71B | -$4.05B | -$4.43B | -$4.71B | -$6.99B | -$7.39B | -$7.60B | -$2.51B |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $555.6M | $417.1M | $472.8M | $380.7M |
| Ativos Totais | $10.15B | $9.88B | $12.61B | $12.59B |
| Passivos Totais | $8.78B | $8.50B | $10.95B | $10.92B |
| Patrimônio Líquido | $1.37B | $1.39B | $1.66B | $1.67B |
| Dívida Total | $76.0M | $71.9M | $219.1M | $347.2M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $23.1M | $14.6M | $61.5M | $80.4M | $88.6M | $93.6M | $71.3M | $142.0M | $118.8M | $109.6M |
| Depreciação e Amortização | $14.2M | $12.9M | $11.5M | $15.0M | $14.4M | $13.6M | $16.4M | $23.9M | $24.2M | $25.3M |
| Compensação em Ações | $3.5M | $3.6M | $4.4M | $4.9M | $5.3M | $5.5M | $6.1M | $7.2M | $8.0M | $7.3M |
| Variação Capital de Giro | -$10.2M | $33.9M | $24.1M | $15.3M | $4.8M | -$38.9M | -$31.4M | -$9.9M | $5.7M | -$14.8M |
| Fluxo de Caixa Operacional | -$3.9M | $58.1M | $73.6M | $44.2M | -$6.2M | $179.5M | $214.6M | $166.9M | $155.3M | $162.4M |
| CapEx | 0 | -$5.6M | -$6.3M | -$11.2M | -$4.4M | 0 | -$12.4M | -$36.8M | -$34.6M | -$29.9M |
| Aquisições | 0 | 0 | $69.0M | 0 | 0 | 0 | $234.3M | -$45.3M | 0 | 0 |
| Recompra de Ações | -$93.6M | -$93.6M | $772000 | 0 | -$19.5M | -$36.4M | 0 | 0 | 0 | -$15.2M |
| Dividendos Pagos | -$6.4M | -$9.4M | -$16.6M | -$23.5M | -$24.8M | -$26.9M | -$30.4M | -$39.6M | -$42.9M | -$46.1M |
| Fluxo de Caixa Livre | -$3.9M | $52.5M | $67.3M | $33.0M | -$10.6M | $179.5M | $202.2M | $130.1M | $120.7M | $132.5M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $52.4M | $38.1M | -$56.8M | $135.1M |
| CapEx | -$5.9M | -$26.2M | -$5.5M | -$4.1M |
| Fluxo de Caixa Livre | $46.5M | $11.9M | -$62.3M | $131.0M |
| Dividendos Pagos | -$11.4M | -$11.8M | -$14.7M | -$14.5M |
| Compensação em Ações | $2.1M | $1.4M | $6.3M | $7.1M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +1.6% | +43.5% | +12.2% | +8.0% | -13.5% | +13.2% | +59.7% | +7.4% | -1.7% |
| Crescimento Lucro Líquido (anual) | | -36.8% | +321.5% | +30.8% | +10.2% | +5.7% | -23.9% | +99.3% | -16.4% | -7.8% |
| Crescimento LPA (anual) | | -33.3% | +270.4% | +28.5% | +11.7% | +5.9% | -27.6% | +70.0% | -17.1% | -7.7% |
| Variação de Ações (anual) | | -1.7% | +16.4% | +0.3% | -1.4% | -0.0% | +5.2% | +16.6% | +0.8% | -0.6% |
| Crescimento FCF (anual) | | +1434.4% | +28.1% | -50.9% | -132.0% | +1799.2% | +12.6% | -35.7% | -7.2% | +9.8% |
| Margem Bruta | 80.8% | 84.7% | 90.0% | 85.2% | 87.9% | 98.5% | 84.2% | 74.4% | 66.4% | 69.2% |
| Margem Operacional | 13.0% | 17.6% | 25.2% | 29.3% | 30.9% | 37.6% | 24.9% | 31.7% | 24.4% | 24.4% |
| Margem EBITDA | 20.1% | 23.9% | 29.2% | 33.9% | 35.0% | 42.0% | 29.6% | 36.0% | 28.5% | 28.2% |
| Margem Líquida | 11.5% | 7.2% | 21.0% | 24.5% | 25.0% | 30.6% | 20.6% | 25.7% | 20.0% | 18.8% |
| Margem FCF | -2.0% | 25.8% | 23.0% | 10.1% | -3.0% | 58.6% | 58.4% | 23.5% | 20.3% | 22.7% |
| Taxa Efetiva de Imposto | 11.3% | 59.3% | 16.6% | 16.5% | 19.0% | 18.6% | 17.3% | 19.1% | 18.2% | 18.0% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-0.14 | $1.94 | $2.14 | $1.05 | $-0.34 | $5.78 | $6.19 | $3.41 | $3.14 | $3.47 |
| Dividendo por Ação | $0.23 | $0.35 | $0.53 | $0.75 | $0.80 | $0.87 | $0.93 | $1.04 | $1.12 | $1.21 |
| Ações em Circulação (Básicas) | $26.3M | $26.9M | $30.7M | $31.2M | $30.9M | $30.7M | $32.4M | $37.9M | $38.2M | $38.2M |
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 | 6.47% |
| Retorno sobre capital investido | 0.84% |
| Retorno sobre ativos | 0.78% |
| Margem bruta | 77.06% |
| Margem operacional | 21.74% |
| Margem líquida | 16.51% |
Saúde financeira
| Dívida / Patrimônio | 0.21 |
| Liquidez corrente | 90.10 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 39.37 | 60.06 | 15.44 | 13.70 | 11.41 | 14.45 | 19.12 | 9.94 | 13.89 | 13.29 |
| P/VP | 1.56 | 1.64 | 1.37 | 1.43 | 1.23 | 1.61 | 1.25 | 1.16 | 1.26 | 1.05 |
| P/V | 4.18 | 4.29 | 3.25 | 3.35 | 2.86 | 4.41 | 3.93 | 2.55 | 2.77 | 2.49 |
| Margem Bruta | 80.8% | 84.7% | 90.0% | 85.2% | 87.9% | 98.5% | 84.2% | 74.4% | 66.4% | 69.2% |
| Margem Operacional | 13.0% | 17.6% | 25.2% | 29.3% | 30.9% | 37.6% | 24.9% | 31.7% | 24.4% | 24.4% |
| Margem Líquida | 11.5% | 7.2% | 21.0% | 24.5% | 25.0% | 30.6% | 20.6% | 25.7% | 20.0% | 18.8% |