Demonstrações financeiras detalhadas de ServisFirst Bancshares, Inc. (SFBS): 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
ServisFirst Bancshares, Inc. registou receitas de $1.02B no último exercício, com um CAGR de 5 anos de 19.7%. O lucro líquido atingiu $276.6M, com CAGR de 5 anos de 10.3%.
Margens dos últimos 12 meses: margem bruta 56.6%, margem operacional 38.1%, margem líquida 30.9%. O fluxo de caixa livre cresceu a CAGR de 13.1% em 5 anos.
Ao preço atual de $41.28, SFBS negocia a um P/L de 14.03 e um ROE de 17.06%. A capitalização de mercado é de $4.5B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $223.1M | $275.3M | $342.6M | $410.6M | $413.9M | $437.4M | $580.5M | $828.8M | $977.1M | $1.02B |
| Custo da Receita | $39.2M | $58.6M | $85.3M | $125.8M | $93.4M | $63.3M | $126.0M | $421.0M | $521.0M | $490.5M |
| Lucro Bruto | $183.9M | $216.8M | $257.3M | $284.8M | $320.5M | $374.1M | $454.4M | $407.8M | $456.1M | $527.0M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $48.3M | $52.7M | $56.7M | $61.9M | $66.7M | $74.6M | $83.7M | $98.1M | $108.8M | $109.4M |
| Despesas Operacionais | $73.1M | $79.4M | $88.4M | $97.9M | $106.3M | $120.8M | $145.6M | $163.2M | $177.1M | $184.8M |
| Lucro Operacional | $110.8M | $137.3M | $168.8M | $186.9M | $214.2M | $253.3M | $308.8M | $244.6M | $279.0M | $342.1M |
| EBITDA | $113.9M | $140.2M | $172.5M | $190.8M | $218.3M | $257.7M | $313.0M | $249.0M | $283.8M | $346.9M |
| Despesas com Juros | $25.8M | $35.3M | $63.9M | $103.2M | $51.0M | $31.8M | $88.4M | $402.3M | $499.5M | $455.2M |
| Lucro Antes de Impostos | $110.8M | $137.3M | $168.8M | $186.9M | $214.2M | $253.3M | $308.8M | $244.6M | $279.0M | $342.1M |
| Imposto | $29.3M | $44.3M | $31.9M | $37.6M | $44.6M | $45.6M | $57.3M | $37.7M | $51.7M | $65.5M |
| Lucro Líquido | $81.5M | $93.1M | $136.9M | $149.2M | $169.6M | $207.7M | $251.5M | $206.9M | $227.2M | $276.6M |
| LPA | $0.78 | $0.88 | $1.29 | $1.40 | $1.57 | $1.92 | $2.31 | $1.90 | $2.08 | $2.53 |
| LPA Diluído | $0.76 | $0.86 | $1.26 | $1.38 | $1.56 | $1.91 | $2.31 | $1.90 | $2.08 | $2.53 |
| Ações em Circulação (Diluídas) | $107.2M | $108.2M | $108.3M | $108.2M | $108.4M | $108.9M | $109.1M | $109.1M | $109.3M | $109.3M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $254.1M | $267.1M | $252.3M | $262.8M |
| Lucro Bruto | $126.8M | $154.3M | $148.3M | $157.1M |
| Lucro Operacional | $78.8M | $107.6M | $101.0M | $107.2M |
| EBITDA | $79.9M | $108.9M | $102.2M | $107.2M |
| Lucro Líquido | $65.6M | $86.4M | $83.0M | $85.8M |
| LPA | $0.60 | $0.79 | $0.76 | $0.79 |
| LPA Diluído | $0.60 | $0.79 | $0.76 | $0.79 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $623.6M | $238.1M | $458.1M | $530.1M | $2.21B | $4.16B | $814.5M | $2.03B | $2.38B | $95.1M |
| Investimentos de Curto Prazo | $422.4M | $538.1M | $590.2M | $759.4M | $886.7M | $842.6M | $644.8M | $825.9M | $443.0M | $1.07B |
| Contas a Receber | $15.8M | $20.7M | $24.1M | $26.3M | $36.8M | $34.8M | $48.4M | $59.2M | $62.8M | $62.0M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $1.06B | $796.8M | $1.07B | $1.32B | $3.13B | $5.04B | $1.51B | $2.92B | $2.88B | $1.16B |
| Imobilizado | $40.3M | $58.9M | $57.8M | $56.5M | $55.0M | $60.3M | $59.9M | $59.3M | $59.2M | $60.4M |
| Ágio | 0 | 0 | 0 | 0 | 0 | $13.6M | $13.6M | $13.6M | $13.6M | $13.6M |
| Ativos Intangíveis | $15.0M | $14.7M | $14.4M | $14.2M | $13.9M | $38000 | 0 | 0 | 0 | 0 |
| Ativos Totais | $6.37B | $7.08B | $8.01B | $8.95B | $11.93B | $15.45B | $14.60B | $16.13B | $17.35B | $17.73B |
| Contas a Pagar | $4.4M | $5.0M | $10.4M | $11.9M | $12.3M | $13.6M | $18.6M | $27.5M | $28.0M | $30.0M |
| Dívida de Curto Prazo | $355.9M | $301.8M | $288.7M | $470.7M | $851.5M | $1.71B | $1.62B | $1.26B | $1.99B | $1.47B |
| Passivos Circulantes | $5.78B | $6.40B | $7.21B | $8.01B | $10.84B | $14.18B | $13.18B | $14.56B | $15.57B | $4.16B |
| Dívida de Longo Prazo | $55.3M | $64.8M | $64.7M | $64.7M | $64.7M | $64.7M | $64.7M | $64.7M | $64.7M | $34.8M |
| Passivos Totais | $5.85B | $6.47B | $7.29B | $8.10B | $10.94B | $14.30B | $13.30B | $14.69B | $15.73B | $15.88B |
| Reservas | $307.2M | $389.6M | $500.9M | $616.6M | $748.2M | $911.0M | $1.11B | $1.25B | $1.41B | $1.61B |
| Patrimônio Líquido | $522.5M | $607.1M | $714.7M | $842.2M | $992.4M | $1.15B | $1.30B | $1.44B | $1.62B | $1.85B |
| Dívida Total | $411.2M | $366.6M | $353.4M | $535.5M | $916.3M | $1.78B | $1.68B | $1.32B | $2.06B | $1.51B |
| Dívida Líquida | -$634.7M | -$409.5M | -$694.8M | -$754.1M | -$2.18B | -$3.23B | $224.2M | -$1.53B | -$760.1M | $342.4M |
| Capital de Giro | -$4.72B | -$5.60B | -$6.14B | -$6.70B | -$7.71B | -$9.14B | -$11.68B | -$11.64B | -$12.68B | -$2.99B |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $1.34B | $1.12B | $1.32B | $1.46B |
| Ativos Totais | $17.58B | $17.73B | $18.17B | $18.34B |
| Passivos Totais | $15.80B | $15.88B | $16.26B | $16.37B |
| Patrimônio Líquido | $1.78B | $1.85B | $1.91B | $1.98B |
| Dívida Total | $1.55B | $1.51B | $1.58B | $1.61B |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $81.5M | $93.1M | $136.9M | $149.2M | $169.6M | $207.7M | $251.5M | $206.9M | $227.2M | $276.6M |
| Depreciação e Amortização | $3.1M | $2.8M | $3.6M | $4.0M | $4.1M | $4.4M | $4.1M | $4.4M | $4.8M | $4.7M |
| Compensação em Ações | $1.2M | $1.2M | $851000 | $1.1M | $1.3M | $1.9M | $3.2M | $3.6M | $3.5M | $3.0M |
| Variação Capital de Giro | -$6.5M | -$19.8M | $12.0M | -$8.5M | -$15.7M | -$9.5M | -$41.1M | -$46.5M | -$9.2M | -$18.3M |
| Fluxo de Caixa Operacional | $98.5M | $118.5M | $168.3M | $164.3M | $191.3M | $266.3M | $272.6M | $197.3M | $252.9M | $355.2M |
| CapEx | -$22.2M | -$21.2M | -$2.3M | -$2.4M | -$2.3M | -$9.4M | -$3.6M | -$3.9M | -$4.6M | -$5.9M |
| Aquisições | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagos | -$7.9M | -$10.1M | -$20.3M | -$24.1M | -$28.3M | -$32.6M | -$37.5M | -$45.8M | -$65.5M | -$73.2M |
| Fluxo de Caixa Livre | $76.3M | $97.3M | $166.0M | $161.9M | $189.0M | $256.9M | $269.0M | $193.4M | $248.3M | $349.3M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $140.9M | $98.8M | $70.1M | $163.1M |
| CapEx | $3.1M | -$4.5M | -$2.9M | -$2.8M |
| Fluxo de Caixa Livre | $144.0M | $94.2M | $67.2M | $160.3M |
| Dividendos Pagos | -$18.3M | -$18.3M | -$20.8M | -$62.3M |
| Compensação em Ações | $629000 | $627000 | $796000 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +23.4% | +24.4% | +19.8% | +0.8% | +5.7% | +32.7% | +42.8% | +17.9% | +4.1% |
| Crescimento Lucro Líquido (anual) | | +14.3% | +47.1% | +9.0% | +13.6% | +22.5% | +21.1% | -17.8% | +9.9% | +21.7% |
| Crescimento LPA (anual) | | +13.5% | +46.6% | +8.1% | +12.9% | +21.6% | +20.9% | -18.1% | +9.8% | +21.6% |
| Variação de Ações (anual) | | +1.0% | +0.1% | -0.1% | +0.2% | +0.4% | +0.2% | +0.0% | +0.2% | +0.0% |
| Crescimento FCF (anual) | | +27.5% | +70.6% | -2.5% | +16.7% | +35.9% | +4.7% | -28.1% | +28.4% | +40.7% |
| Margem Bruta | 82.4% | 78.7% | 75.1% | 69.4% | 77.4% | 85.5% | 78.3% | 49.2% | 46.7% | 51.8% |
| Margem Operacional | 49.7% | 49.9% | 49.3% | 45.5% | 51.8% | 57.9% | 53.2% | 29.5% | 28.6% | 33.6% |
| Margem EBITDA | 51.0% | 50.9% | 50.3% | 46.5% | 52.7% | 58.9% | 53.9% | 30.0% | 29.0% | 34.1% |
| Margem Líquida | 36.5% | 33.8% | 40.0% | 36.4% | 41.0% | 47.5% | 43.3% | 25.0% | 23.3% | 27.2% |
| Margem FCF | 34.2% | 35.3% | 48.5% | 39.4% | 45.7% | 58.7% | 46.3% | 23.3% | 25.4% | 34.3% |
| Taxa Efetiva de Imposto | 26.5% | 32.2% | 18.9% | 20.1% | 20.8% | 18.0% | 18.6% | 15.4% | 18.5% | 19.2% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $0.71 | $0.90 | $1.53 | $1.50 | $1.74 | $2.36 | $2.47 | $1.77 | $2.27 | $3.19 |
| Dividendo por Ação | $0.07 | $0.09 | $0.19 | $0.22 | $0.26 | $0.30 | $0.34 | $0.42 | $0.60 | $0.67 |
| Ações em Circulação (Básicas) | $104.9M | $105.8M | $106.3M | $107.1M | $107.7M | $108.3M | $108.6M | $109.1M | $109.1M | $109.3M |
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 | 17.06% |
| Retorno sobre capital investido | 1.75% |
| Retorno sobre ativos | 1.75% |
| Margem bruta | 56.60% |
| Margem operacional | 38.07% |
| Margem líquida | 30.95% |
Saúde financeira
| Dívida / Patrimônio | 0.82 |
| Liquidez corrente | 1.97 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 24.15 | 23.58 | 12.36 | 13.51 | 12.79 | 22.18 | 14.89 | 17.58 | 20.37 | 14.19 |
| P/VP | 3.76 | 3.62 | 2.37 | 2.40 | 2.19 | 4.00 | 2.88 | 2.52 | 2.86 | 2.12 |
| P/V | 8.80 | 7.97 | 4.95 | 4.91 | 5.24 | 10.52 | 6.45 | 4.38 | 4.73 | 3.86 |
| Margem Bruta | 82.4% | 78.7% | 75.1% | 69.4% | 77.4% | 85.5% | 78.3% | 49.2% | 46.7% | 51.8% |
| Margem Operacional | 49.7% | 49.9% | 49.3% | 45.5% | 51.8% | 57.9% | 53.2% | 29.5% | 28.6% | 33.6% |
| Margem Líquida | 36.5% | 33.8% | 40.0% | 36.4% | 41.0% | 47.5% | 43.3% | 25.0% | 23.3% | 27.2% |