Demonstrações financeiras detalhadas de Orthofix Medical Inc. (OFIX): 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
Orthofix Medical Inc. registou receitas de $822.3M no último exercício, com um CAGR de 5 anos de 15.1%.
Margens dos últimos 12 meses: margem bruta 69.6%, margem operacional -3.1%, margem líquida -7.4%.
Ao preço atual de $8.90, OFIX apresenta lucros negativos (P/L não significativo) e um ROE de -14.05%. A capitalização de mercado é de $360M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $409.8M | $433.8M | $453.0M | $460.0M | $406.6M | $464.5M | $460.7M | $746.6M | $799.5M | $822.3M |
| Custo da Receita | $87.9M | $93.0M | $96.6M | $100.6M | $101.9M | $114.9M | $123.5M | $260.4M | $253.6M | $270.6M |
| Lucro Bruto | $321.9M | $340.8M | $356.4M | $359.3M | $304.7M | $349.6M | $337.2M | $486.3M | $545.9M | $551.7M |
| P&D | $28.8M | $29.7M | $33.2M | $34.6M | $39.1M | $49.6M | $49.1M | $80.2M | $73.6M | $57.1M |
| Despesas Gerais e Administrativas | $255.7M | $272.8M | $290.0M | $309.3M | $272.4M | $290.7M | $308.8M | $530.4M | $532.5M | $456.4M |
| Despesas Operacionais | $284.5M | $302.5M | $323.3M | $378.1M | $310.9M | $357.9M | $350.4M | $625.4M | $630.5M | $620.2M |
| Lucro Operacional | $21.1M | $40.8M | $30.1M | -$18.8M | -$6.3M | -$8.3M | -$13.3M | -$139.1M | -$84.6M | -$68.5M |
| EBITDA | $39.9M | $60.9M | $41.5M | $1.6M | $36.4M | $21.4M | $15.7M | -$79.5M | -$34.2M | -$22.4M |
| Despesas com Juros | 0 | $416000 | $828000 | $122000 | $2.5M | $1.8M | $1.3M | $8.6M | $29.6M | $17.5M |
| Lucro Antes de Impostos | $19.0M | $36.4M | $22.9M | -$27.0M | -$368000 | -$13.5M | -$17.7M | -$148.7M | -$123.9M | -$90.8M |
| Imposto | $15.5M | $29.1M | $9.1M | $1.4M | -$2.9M | $24.9M | $2.0M | $2.7M | $2.1M | $1.4M |
| Lucro Líquido | $3.1M | $6.2M | $13.8M | -$28.5M | $2.5M | -$38.4M | -$19.7M | -$151.4M | -$126.0M | -$92.2M |
| LPA | $0.17 | $0.34 | $0.75 | $-1.51 | $0.13 | $-1.95 | $-0.98 | $-4.12 | $-3.30 | $-2.28 |
| LPA Diluído | $0.17 | $0.34 | $0.73 | $-1.51 | $0.13 | $-1.95 | $-0.98 | $-4.12 | $-3.30 | $-2.28 |
| Ações em Circulação (Diluídas) | $18.5M | $18.5M | $18.9M | $18.9M | $19.4M | $19.7M | $20.1M | $36.7M | $38.1M | $39.9M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $205.6M | $219.9M | $196.7M | $210.9M |
| Lucro Bruto | $148.5M | $142.0M | $139.5M | $149.7M |
| Lucro Operacional | -$17.0M | $13.5M | -$13.7M | -$8.1M |
| EBITDA | -$3.1M | $91.5M | -$1.7M | $20.3M |
| Lucro Líquido | -$22.8M | -$2.2M | -$20.9M | -$15.8M |
| LPA | $-0.57 | $-0.06 | $-0.52 | $-0.39 |
| LPA Diluído | $-0.57 | $-0.06 | $-0.52 | $-0.39 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $39.6M | $81.2M | $69.6M | $69.7M | $96.3M | $87.8M | $50.7M | $33.1M | $83.2M | $82.0M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $57.8M | $63.4M | $77.7M | $86.8M | $72.4M | $78.6M | $82.9M | $128.1M | $134.7M | $135.7M |
| Estoque | $63.3M | $81.3M | $76.8M | $82.4M | $84.6M | $83.0M | $100.2M | $222.2M | $189.5M | $34.2M |
| Ativos Circulantes | $194.4M | $251.8M | $244.6M | $260.6M | $270.4M | $269.5M | $256.0M | $420.4M | $433.3M | $416.8M |
| Imobilizado | $48.9M | $45.1M | $42.8M | $62.7M | $63.6M | $59.3M | $58.2M | $159.1M | $139.8M | -$11.1M |
| Ágio | $53.6M | $53.6M | $72.4M | $71.2M | $84.0M | $71.3M | $71.3M | $194.9M | $194.9M | $194.9M |
| Ativos Intangíveis | $7.5M | $10.5M | $51.9M | $54.1M | $60.5M | $52.7M | $47.4M | $117.5M | $98.8M | $72.8M |
| Ativos Totais | $372.1M | $405.4M | $466.6M | $495.6M | $525.9M | $476.6M | $458.6M | $925.3M | $893.3M | $850.6M |
| Contas a Pagar | $14.4M | $18.1M | $18.0M | $19.9M | $23.1M | $26.5M | $27.6M | $58.4M | $48.8M | $58.4M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $1.2M | 0 | $4.0M |
| Passivos Circulantes | $83.4M | $79.4M | $85.9M | $84.9M | $103.9M | $105.8M | $83.6M | $165.2M | $168.6M | $170.5M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $93.1M | $157.0M | $182.8M |
| Passivos Totais | $108.6M | $108.7M | $131.2M | $168.0M | $169.0M | $139.7M | $121.8M | $326.6M | $390.2M | $400.6M |
| Reservas | $64.2M | $70.4M | $87.1M | $57.7M | $59.4M | $21.0M | $1.3M | -$150.1M | -$276.1M | -$368.3M |
| Patrimônio Líquido | $263.5M | $296.6M | $335.4M | $327.6M | $356.9M | $336.9M | $336.9M | $598.7M | $503.1M | $450.0M |
| Dívida Total | 0 | 0 | 0 | $22.8M | $24.9M | $24.3M | $21.5M | $117.1M | $179.6M | $229.3M |
| Dívida Líquida | -$39.6M | -$81.2M | -$69.6M | -$46.9M | -$71.4M | -$63.5M | -$29.2M | $84.0M | $96.4M | $147.2M |
| Capital de Giro | $110.9M | $172.4M | $158.7M | $175.7M | $166.5M | $163.7M | $172.4M | $255.2M | $264.7M | $246.4M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $65.9M | $82.0M | $120.3M | $103.8M |
| Ativos Totais | $832.6M | $850.6M | $886.6M | $873.0M |
| Passivos Totais | $390.1M | $400.6M | $451.4M | $443.8M |
| Patrimônio Líquido | $442.5M | $450.0M | $435.2M | $429.2M |
| Dívida Total | $204.5M | $229.3M | $234.4M | $234.6M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $3.1M | $6.2M | $13.8M | -$28.5M | $2.5M | -$38.4M | -$19.7M | -$151.4M | -$126.0M | -$92.2M |
| Depreciação e Amortização | $20.8M | $20.1M | $18.7M | $24.7M | $34.3M | $33.1M | $32.1M | $60.6M | $76.0M | $83.3M |
| Compensação em Ações | $16.0M | $12.6M | $18.9M | $21.5M | $16.2M | $15.4M | $18.4M | $35.7M | $32.5M | $28.7M |
| Variação Capital de Giro | -$12.1M | -$17.2M | -$7.0M | -$29.4M | $19.7M | -$18.1M | -$29.2M | -$54.0M | -$19.3M | -$21.5M |
| Fluxo de Caixa Operacional | $44.7M | $53.3M | $49.9M | $32.0M | $74.3M | $18.5M | -$11.5M | -$45.8M | $25.8M | $33.3M |
| CapEx | -$18.3M | -$16.9M | -$15.3M | -$20.5M | -$17.1M | -$19.6M | -$23.2M | -$62.0M | -$34.9M | -$34.6M |
| Aquisições | 0 | 0 | -$44.3M | 0 | -$18.0M | 0 | -$1.5M | $29.4M | 0 | 0 |
| Recompra de Ações | -$63.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fluxo de Caixa Livre | $26.4M | $36.4M | $34.7M | $11.5M | $57.2M | -$1.1M | -$34.7M | -$107.8M | -$9.1M | -$1.3M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $12.4M | $28.5M | -$17.6M | -$6.2M |
| CapEx | -$9.9M | -$10.9M | -$10.7M | -$12.6M |
| Fluxo de Caixa Livre | $2.5M | $17.6M | -$28.3M | -$18.9M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $7.2M | $20.8M | $6.5M | $7.7M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +5.9% | +4.4% | +1.5% | -11.6% | +14.2% | -0.8% | +62.1% | +7.1% | +2.9% |
| Crescimento Lucro Líquido (anual) | | +103.6% | +121.9% | -306.1% | +108.8% | -1624.8% | +48.5% | -666.6% | +16.8% | +26.8% |
| Crescimento LPA (anual) | | +100.0% | +120.6% | -301.3% | +108.6% | -1600.0% | +49.7% | -320.4% | +19.9% | +30.9% |
| Variação de Ações (anual) | | +0.2% | +2.2% | -0.0% | +2.6% | +1.5% | +2.1% | +82.7% | +3.8% | +4.6% |
| Crescimento FCF (anual) | | +38.0% | -4.8% | -66.8% | +396.8% | -102.0% | -3006.4% | -210.7% | +91.6% | +85.9% |
| Margem Bruta | 78.6% | 78.6% | 78.7% | 78.1% | 74.9% | 75.3% | 73.2% | 65.1% | 68.3% | 67.1% |
| Margem Operacional | 5.1% | 9.4% | 6.6% | -4.1% | -1.5% | -1.8% | -2.9% | -18.6% | -10.6% | -8.3% |
| Margem EBITDA | 9.7% | 14.0% | 9.2% | 0.3% | 9.0% | 4.6% | 3.4% | -10.6% | -4.3% | -2.7% |
| Margem Líquida | 0.7% | 1.4% | 3.0% | -6.2% | 0.6% | -8.3% | -4.3% | -20.3% | -15.8% | -11.2% |
| Margem FCF | 6.4% | 8.4% | 7.7% | 2.5% | 14.1% | -0.2% | -7.5% | -14.4% | -1.1% | -0.2% |
| Taxa Efetiva de Imposto | 81.6% | 80.0% | 39.7% | -5.2% | 784.0% | -184.4% | -11.5% | -1.8% | -1.7% | -1.5% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.43 | $1.97 | $1.83 | $0.61 | $2.95 | $-0.06 | $-1.73 | $-2.94 | $-0.24 | $-0.03 |
| 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) | $18.1M | $18.1M | $18.5M | $18.9M | $19.3M | $19.7M | $20.1M | $36.7M | $38.1M | $39.9M |
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 | -14.05% |
| Retorno sobre capital investido | -3.55% |
| Retorno sobre ativos | -7.07% |
| Margem bruta | 69.59% |
| Margem operacional | -3.05% |
| Margem líquida | -7.41% |
Saúde financeira
| Dívida / Patrimônio | 0.55 |
| Liquidez corrente | 2.84 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 1.35 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 212.82 | 160.88 | 69.99 | -30.58 | 330.62 | -15.94 | -20.95 | -3.27 | -5.29 | -6.65 |
| P/VP | 2.49 | 3.34 | 2.89 | 2.66 | 2.32 | 1.82 | 1.22 | 0.83 | 1.32 | 1.34 |
| P/V | 1.60 | 2.28 | 2.14 | 1.90 | 2.04 | 1.32 | 0.90 | 0.66 | 0.83 | 0.74 |
| Margem Bruta | 78.6% | 78.6% | 78.7% | 78.1% | 74.9% | 75.3% | 73.2% | 65.1% | 68.3% | 67.1% |
| Margem Operacional | 5.1% | 9.4% | 6.6% | -4.1% | -1.5% | -1.8% | -2.9% | -18.6% | -10.6% | -8.3% |
| Margem Líquida | 0.7% | 1.4% | 3.0% | -6.2% | 0.6% | -8.3% | -4.3% | -20.3% | -15.8% | -11.2% |