Demonstrações financeiras detalhadas de Richardson Electronics, Ltd. (RELL): 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
Richardson Electronics, Ltd. registou receitas de $228.6M no último exercício, com um CAGR de 5 anos de 5.3%. O lucro líquido atingiu $6.4M, com CAGR de 5 anos de 31.0%.
Margens dos últimos 12 meses: margem bruta 31.2%, margem operacional 2.8%, margem líquida 2.8%.
Ao preço atual de $16.45, RELL negocia a um P/L de 34.87 e um ROE de 3.98%. A capitalização de mercado é de $241M.
Demonstração de Resultados (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Receita | $136.9M | $163.2M | $166.7M | $155.9M | $176.9M | $224.6M | $262.7M | $196.5M | $208.9M | $228.6M |
| Custo da Receita | $93.0M | $108.1M | $114.9M | $106.2M | $118.1M | $152.9M | $179.0M | $140.8M | $144.1M | $157.2M |
| Lucro Bruto | $43.9M | $55.1M | $51.7M | $49.7M | $58.8M | $71.7M | $83.7M | $55.7M | $64.8M | $71.3M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $49.9M | $51.7M | $52.2M | $51.3M | $55.9M | $55.7M | $58.7M | $55.2M | $62.2M | $65.7M |
| Despesas Operacionais | $49.9M | $51.7M | $52.2M | $51.3M | $55.9M | $55.7M | $58.7M | $55.2M | $67.3M | $64.9M |
| Lucro Operacional | -$6.0M | $3.4M | -$421000 | -$1.7M | $2.9M | $16.0M | $25.0M | $418000 | -$2.5M | $6.5M |
| EBITDA | -$3.3M | $6.9M | -$3.1M | $2.2M | $5.7M | $19.2M | $28.7M | $4.5M | $6.6M | $11.3M |
| Despesas com Juros | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Lucro Antes de Impostos | -$6.1M | $3.9M | -$6.3M | -$1.2M | $2.3M | $15.8M | $25.0M | $157000 | -$1.5M | $7.5M |
| Imposto | $812000 | $1.5M | $1.0M | $624000 | $653000 | -$2.2M | $2.7M | $96000 | -$388000 | $1.1M |
| Lucro Líquido | -$6.9M | $3.8M | -$7.3M | -$1.8M | $1.7M | $17.9M | $22.3M | $61000 | -$1.1M | $6.4M |
| LPA | $-0.55 | $0.30 | $-0.57 | $-0.14 | $0.13 | $1.35 | $1.38 | $0.00 | $-0.09 | $0.45 |
| LPA Diluído | $-0.54 | $0.29 | $-0.57 | $-0.14 | $0.13 | $1.31 | $1.32 | $0.00 | $-0.09 | $0.44 |
| Ações em Circulação (Diluídas) | $12.8M | $13.0M | $12.8M | $12.9M | $13.1M | $13.7M | $14.4M | $14.5M | $12.3M | $12.7M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $54.6M | $52.3M | $55.5M | $66.2M |
| Lucro Bruto | $16.9M | $16.1M | $17.7M | $20.7M |
| Lucro Operacional | $968000 | $135000 | $1.5M | $3.9M |
| EBITDA | $3.3M | $741000 | $2.2M | $4.5M |
| Lucro Líquido | $1.9M | -$121000 | $893000 | $3.7M |
| LPA | $0.13 | $-0.01 | $0.06 | $0.27 |
| LPA Diluído | $0.13 | $-0.01 | $0.06 | $0.25 |
Balanço (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Caixa e Equivalentes | $55.3M | $60.5M | $42.0M | $30.5M | $43.3M | $35.5M | $25.0M | $24.3M | $35.9M | $31.8M |
| Investimentos de Curto Prazo | $6.4M | 0 | $8.0M | $16.0M | 0 | $5.0M | 0 | 0 | 0 | 0 |
| Contas a Receber | $20.8M | $22.9M | $24.3M | $20.2M | $25.1M | $29.9M | $30.1M | $24.8M | $24.1M | $33.2M |
| Estoque | $42.7M | $50.7M | $53.2M | $57.5M | $63.5M | $80.4M | $110.4M | $110.1M | $102.8M | $103.0M |
| Ativos Circulantes | $128.4M | $137.8M | $130.6M | $126.7M | $134.3M | $153.2M | $168.1M | $161.7M | $165.9M | $172.7M |
| Imobilizado | $15.8M | $18.2M | $19.1M | $21.1M | $19.6M | $20.2M | $23.3M | $23.4M | $20.6M | $20.4M |
| Ágio | $6.3M | $6.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | $3.4M | $3.0M | $2.8M | $2.5M | $2.3M | $2.0M | $1.9M | $1.6M | $345000 | $285000 |
| Ativos Totais | $157.5M | $166.3M | $153.0M | $150.7M | $156.8M | $179.8M | $198.0M | $192.4M | $195.8M | $202.0M |
| Contas a Pagar | $15.9M | $19.6M | $16.9M | $17.4M | $17.0M | $24.0M | $23.5M | $15.5M | $21.3M | $19.6M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Circulantes | $24.2M | $29.9M | $28.2M | $29.2M | $32.2M | $41.2M | $36.6M | $32.0M | $36.8M | $36.4M |
| Dívida de Longo Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Totais | $25.1M | $31.1M | $29.3M | $32.1M | $35.2M | $44.0M | $38.7M | $34.5M | $39.2M | $38.3M |
| Reservas | $69.3M | $70.1M | $59.7M | $54.8M | $53.3M | $68.0M | $87.0M | $83.7M | $79.3M | $82.3M |
| Patrimônio Líquido | $132.3M | $135.2M | $123.8M | $118.7M | $121.6M | $135.8M | $159.3M | $158.0M | $156.7M | $163.7M |
| Dívida Total | 0 | 0 | 0 | $3.4M | $2.4M | $3.0M | $2.5M | $2.8M | $2.3M | $1.4M |
| Dívida Líquida | -$61.8M | -$60.5M | -$50.0M | -$43.1M | -$40.9M | -$37.5M | -$22.5M | -$21.5M | -$33.6M | -$30.4M |
| Capital de Giro | $104.1M | $107.9M | $102.4M | $97.5M | $102.1M | $112.0M | $131.5M | $129.6M | $129.1M | $136.4M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $35.7M | $33.1M | $29.5M | $31.8M |
| Ativos Totais | $200.1M | $201.8M | $199.8M | $202.0M |
| Passivos Totais | $40.7M | $43.3M | $39.6M | $38.3M |
| Patrimônio Líquido | $159.4M | $158.5M | $160.2M | $163.7M |
| Dívida Total | $2.0M | $1.7M | $1.6M | $1.4M |
Fluxo de Caixa (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Lucro Líquido | -$6.9M | $3.8M | -$7.3M | -$1.8M | $1.7M | $17.9M | $22.3M | $61000 | -$1.1M | $6.4M |
| Depreciação e Amortização | $2.7M | $3.0M | $3.2M | $3.4M | $3.4M | $3.4M | $3.7M | $4.3M | $4.0M | $3.8M |
| Compensação em Ações | $437000 | $533000 | $697000 | $683000 | $675000 | $654000 | $936000 | $1.3M | $1.5M | $1.6M |
| Variação Capital de Giro | $5.4M | -$5.0M | -$6.9M | -$1.3M | -$6.0M | -$16.5M | -$35.5M | $1.5M | $4.8M | -$12.0M |
| Fluxo de Caixa Operacional | $1.8M | $3.0M | -$2.6M | $1.9M | $832000 | $1.9M | -$8.2M | $6.5M | $10.6M | $762000 |
| CapEx | -$5.2M | -$5.2M | -$3.9M | -$1.8M | -$2.6M | -$3.1M | -$7.4M | -$4.0M | -$2.8M | -$4.4M |
| Aquisições | 0 | 0 | 0 | $1.8M | $2.6M | 0 | $194000 | 0 | $6.8M | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | -$3.0M | -$3.0M | -$3.1M | -$3.1M | -$3.1M | -$3.2M | -$3.3M | -$3.4M | -$3.4M | -$3.4M |
| Fluxo de Caixa Livre | -$3.4M | -$2.3M | -$6.4M | $147000 | -$1.8M | -$1.2M | -$15.6M | $2.5M | $7.7M | -$3.6M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $1.4M | -$99000 | -$2.6M | -$3.8M |
| CapEx | -$1.0M | -$1.6M | -$759000 | -$993000 |
| Fluxo de Caixa Livre | $342000 | -$1.7M | -$3.4M | -$4.8M |
| Dividendos Pagos | -$99000 | -$859000 | -$859000 | -$864000 |
| Compensação em Ações | $641000 | $325000 | $330000 | $325000 |
Crescimento e Margens (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| Crescimento Receita (anual) | | +19.2% | +2.1% | -6.5% | +13.5% | +26.9% | +16.9% | -25.2% | +6.3% | +9.4% |
| Crescimento Lucro Líquido (anual) | | +155.2% | -291.7% | +74.9% | +190.0% | +983.2% | +24.6% | -99.7% | -1973.8% | +658.4% |
| Crescimento LPA (anual) | | +154.5% | -290.0% | +75.4% | +192.9% | +938.5% | +2.2% | -99.7% | -2260.5% | +584.4% |
| Variação de Ações (anual) | | +0.9% | -1.1% | +0.7% | +1.1% | +4.9% | +5.1% | +0.9% | -15.3% | +3.2% |
| Crescimento FCF (anual) | | +33.0% | -181.5% | +102.3% | -1324.5% | +32.8% | -1188.4% | +115.9% | +211.8% | -146.8% |
| Margem Bruta | 32.1% | 33.7% | 31.0% | 31.9% | 33.2% | 31.9% | 31.9% | 28.3% | 31.0% | 31.2% |
| Margem Operacional | -4.4% | 2.1% | -0.3% | -1.1% | 1.6% | 7.1% | 9.5% | 0.2% | -1.2% | 2.8% |
| Margem EBITDA | -2.4% | 4.2% | -1.9% | 1.4% | 3.2% | 8.5% | 10.9% | 2.3% | 3.2% | 4.9% |
| Margem Líquida | -5.1% | 2.3% | -4.4% | -1.2% | 0.9% | 8.0% | 8.5% | 0.0% | -0.5% | 2.8% |
| Margem FCF | -2.5% | -1.4% | -3.9% | 0.1% | -1.0% | -0.5% | -5.9% | 1.3% | 3.7% | -1.6% |
| Taxa Efetiva de Imposto | -13.3% | 39.7% | -16.1% | -51.4% | 28.3% | -13.8% | 10.8% | 61.1% | 25.3% | 14.6% |
Dados por Ação (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| FCF por Ação | $-0.27 | $-0.18 | $-0.50 | $0.01 | $-0.14 | $-0.09 | $-1.08 | $0.17 | $0.63 | $-0.29 |
| Dividendo por Ação | $0.24 | $0.24 | $0.24 | $0.24 | $0.24 | $0.23 | $0.23 | $0.23 | $0.28 | $0.27 |
| Ações em Circulação (Básicas) | $12.6M | $12.9M | $12.8M | $12.9M | $13.0M | $13.3M | $13.8M | $14.3M | $12.3M | $12.5M |
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
| Retorno sobre patrimônio | 3.98% |
| Retorno sobre capital investido | 3.32% |
| Retorno sobre ativos | 3.16% |
| Margem bruta | 31.22% |
| Margem operacional | 2.83% |
| Margem líquida | 2.79% |
Saúde financeira
| Dívida / Patrimônio | 0.01 |
| Liquidez corrente | 4.75 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 5.94 |
Índices Chave (10 anos)
| Ano | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|
| P/L | -10.98 | 32.47 | -8.91 | -30.00 | 65.77 | 10.36 | 12.60 | 2602.33 | -96.34 | 37.73 |
| P/VP | 0.58 | 0.93 | 0.53 | 0.46 | 0.91 | 1.37 | 1.51 | 1.01 | 0.70 | 1.30 |
| P/V | 0.56 | 0.77 | 0.39 | 0.35 | 0.63 | 0.83 | 0.91 | 0.81 | 0.53 | 0.93 |
| Margem Bruta | 32.1% | 33.7% | 31.0% | 31.9% | 33.2% | 31.9% | 31.9% | 28.3% | 31.0% | 31.2% |
| Margem Operacional | -4.4% | 2.1% | -0.3% | -1.1% | 1.6% | 7.1% | 9.5% | 0.2% | -1.2% | 2.8% |
| Margem Líquida | -5.1% | 2.3% | -4.4% | -1.2% | 0.9% | 8.0% | 8.5% | 0.0% | -0.5% | 2.8% |