Demonstrações financeiras detalhadas de Seanergy Maritime Holdings Corp. (SHIP): 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
Seanergy Maritime Holdings Corp. registou receitas de $158.1M no último exercício, com um CAGR de 5 anos de 20.1%.
Margens dos últimos 12 meses: margem bruta 50.7%, margem operacional 37.0%, margem líquida 30.7%.
Ao preço atual de $18.28, SHIP negocia a um P/L de 6.22 e um ROE de 20.72%. A capitalização de mercado é de $386M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $34.7M | $74.8M | $91.5M | $86.5M | $63.3M | $153.1M | $125.0M | $110.2M | $167.5M | $158.1M |
| Custo da Receita | $43.8M | $55.6M | $73.5M | $66.6M | $56.0M | $70.0M | $71.3M | $69.8M | $50.3M | $95.5M |
| Lucro Bruto | -$9.1M | $19.3M | $18.0M | $19.9M | $7.4M | $83.2M | $53.8M | $40.4M | $117.2M | $62.6M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $4.1M | $5.1M | $6.5M | $6.0M | $6.6M | $13.7M | $17.4M | $22.8M | $24.7M | $21.5M |
| Despesas Operacionais | $5.6M | $16.5M | $25.7M | $7.8M | $7.7M | $17.2M | $24.1M | $19.1M | $54.6M | $21.5M |
| Lucro Operacional | -$14.7M | $2.8M | $4.3M | $12.0M | -$268000 | $65.9M | $29.7M | $21.3M | $62.6M | $41.1M |
| EBITDA | -$6.2M | $25.6M | $15.8M | $14.2M | $17.8M | $69.3M | $52.9M | $45.2M | $92.4M | $79.1M |
| Despesas com Juros | $9.9M | $17.4M | $25.3M | $23.6M | $23.4M | $10.8M | $12.3M | $18.3M | $18.7M | $21.7M |
| Lucro Antes de Impostos | -$24.6M | -$3.2M | -$21.1M | -$11.6M | -$18.4M | $41.3M | $17.2M | $2.3M | $43.5M | $21.2M |
| Imposto | $34000 | 0 | $16000 | $54000 | 0 | 0 | -$28000 | 0 | 0 | 0 |
| Lucro Líquido | -$24.6M | -$3.2M | -$21.1M | -$11.7M | -$18.4M | $41.3M | $17.2M | $2.3M | $43.5M | $20.8M |
| LPA | $-2875.51 | $-216.61 | $-1343.93 | $-122.64 | $-5.49 | $2.70 | $0.97 | $0.12 | $2.11 | $1.02 |
| LPA Diluído | $-2875.51 | $-216.61 | $-1343.93 | $-122.64 | $-5.49 | $2.50 | $0.96 | $0.12 | $2.11 | $1.01 |
| Ações em Circulação (Diluídas) | $8563 | $14935 | $15669 | $95829 | $3.3M | $19.1M | $17.7M | $18.4M | $19.9M | $20.5M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $47.0M | $49.4M | $42.9M | $55.7M |
| Lucro Bruto | $20.9M | $25.6M | $19.3M | $33.0M |
| Lucro Operacional | $16.0M | $18.5M | $11.7M | $25.9M |
| EBITDA | $27.7M | $27.0M | $24.1M | $35.1M |
| Lucro Líquido | $12.4M | $12.3M | $9.5M | $25.6M |
| LPA | $0.61 | $0.59 | $0.45 | $1.21 |
| LPA Diluído | $0.61 | $0.59 | $0.45 | $1.21 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $12.9M | $8.9M | $6.7M | $14.6M | $21.0M | $41.5M | $26.0M | $19.4M | $21.9M | $62.7M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | $1.6M | $1.5M | 0 | 0 | 0 | 0 |
| Contas a Receber | $2.8M | $3.6M | $2.6M | $1.8M | $801000 | 0 | $1.5M | $1.2M | $7.7M | $10.0M |
| Estoque | $4.0M | $4.8M | $5.3M | $3.9M | $4.7M | $1.4M | $2.0M | $1.6M | $1.7M | 0 |
| Ativos Circulantes | $22.3M | $19.5M | $16.9M | $14.6M | $30.5M | $47.1M | $61.6M | $25.1M | $45.9M | $62.7M |
| Imobilizado | $232.1M | $254.7M | $243.2M | $253.8M | $256.7M | $426.1M | $462.4M | $440.9M | $488.2M | $506.7M |
| Ágio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Intangíveis | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $60000 | 0 |
| Ativos Totais | $257.5M | $275.7M | $267.9M | $282.6M | $295.2M | $486.9M | $513.6M | $477.9M | $545.9M | $606.6M |
| Contas a Pagar | $6.3M | $8.8M | $14.4M | $16.1M | $3.7M | $5.8M | $7.8M | $5.5M | $7.1M | $13.1M |
| Dívida de Curto Prazo | $10.5M | $19.2M | $16.2M | $185.7M | $19.4M | $69.2M | $58.9M | $31.8M | $37.4M | $54.9M |
| Passivos Circulantes | $21.2M | $34.5M | $36.3M | $237.3M | $30.8M | $88.0M | $94.7M | $69.5M | $61.6M | $88.1M |
| Dívida de Longo Prazo | $199.6M | $199.9M | $209.5M | $12.0M | $164.9M | $153.5M | $196.8M | $179.0M | $220.2M | $235.2M |
| Passivos Totais | $226.7M | $234.4M | $246.6M | $252.7M | $199.6M | $242.4M | $291.9M | $249.4M | $283.7M | $325.2M |
| Reservas | -$338.5M | -$341.7M | -$364.5M | -$376.2M | -$394.6M | -$353.2M | -$362.0M | -$361.7M | -$333.8M | -$319.5M |
| Patrimônio Líquido | $30.8M | $41.3M | $21.3M | $29.9M | $95.7M | $244.5M | $221.7M | $228.4M | $262.2M | $281.4M |
| Dívida Total | $210.1M | $219.1M | $226.3M | $197.7M | $184.3M | $222.7M | $256.2M | $233.0M | $257.9M | $290.2M |
| Dívida Líquida | $197.2M | $210.3M | $219.6M | $183.1M | $161.7M | $179.8M | $230.2M | $213.5M | $236.0M | $227.5M |
| Capital de Giro | $1.1M | -$15.0M | -$19.4M | -$222.7M | -$215000 | -$40.9M | -$33.0M | -$44.4M | -$15.7M | -$25.4M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $36.8M | $62.7M | $68.8M | $59.5M |
| Ativos Totais | $586.2M | $606.6M | $640.0M | $643.5M |
| Passivos Totais | $314.9M | $325.2M | $350.7M | $330.4M |
| Patrimônio Líquido | $271.3M | $281.4M | $289.3M | $313.1M |
| Dívida Total | $287.5M | $290.2M | $319.7M | $294.9M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | -$24.6M | -$3.2M | -$21.1M | -$11.7M | -$18.4M | $41.3M | $17.2M | $2.3M | $43.5M | $20.8M |
| Depreciação e Amortização | $8.5M | $10.5M | $10.9M | $11.0M | $12.7M | $17.2M | $23.4M | $24.7M | $29.7M | $36.2M |
| Compensação em Ações | $624000 | $730000 | $1.3M | $1.3M | $869000 | $5.1M | $7.2M | $9.1M | $5.0M | 0 |
| Variação Capital de Giro | -$1.9M | $2.6M | $1.2M | $3.0M | -$10.2M | $1.7M | -$16.8M | -$3.6M | -$5.3M | 0 |
| Fluxo de Caixa Operacional | -$15.3M | $2.8M | $5.7M | $13.1M | -$9.7M | $80.8M | $37.3M | $31.3M | $75.3M | $52.6M |
| CapEx | -$40.8M | -$33.0M | -$31.5M | -$12.3M | -$20.3M | -$197.3M | -$70.5M | -$490000 | -$74.4M | -$35.6M |
| Aquisições | 0 | 0 | $22.7M | 0 | 0 | 0 | $12.7M | $23.9M | 0 | $21.6M |
| Recompra de Ações | 0 | 0 | 0 | 0 | 0 | -$1.7M | 0 | -$1.7M | -$4.8M | 0 |
| Dividendos Pagos | 0 | 0 | 0 | 0 | 0 | 0 | -$17.9M | -$6.0M | -$10.8M | -$9.5M |
| Fluxo de Caixa Livre | -$56.1M | -$30.2M | -$25.8M | $759000 | -$30.0M | -$116.6M | -$33.2M | $30.8M | $927000 | $17.0M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $10.1M | $27.2M | $13.0M | $31.5M |
| CapEx | $704280 | -$715653 | -$32.6M | -$39.1M |
| Fluxo de Caixa Livre | $10.8M | $26.5M | -$19.6M | -$7.6M |
| Dividendos Pagos | -$1.1M | -$963641 | -$2.7M | -$4.3M |
| Compensação em Ações | 0 | 0 | 0 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +115.9% | +22.3% | -5.5% | -26.8% | +141.7% | -18.3% | -11.8% | +51.9% | -5.6% |
| Crescimento Lucro Líquido (anual) | | +86.9% | -550.9% | +44.4% | -56.9% | +325.3% | -58.3% | -86.8% | +1805.0% | -52.1% |
| Crescimento LPA (anual) | | +92.5% | -520.4% | +90.9% | +95.5% | +149.2% | -64.1% | -87.6% | +1658.3% | -51.7% |
| Variação de Ações (anual) | | +74.4% | +4.9% | +511.6% | +3389.2% | +472.2% | -7.6% | +4.3% | +7.8% | +3.3% |
| Crescimento FCF (anual) | | +46.2% | +14.7% | +102.9% | -4052.4% | -288.5% | +71.5% | +193.0% | -97.0% | +1736.0% |
| Margem Bruta | -26.3% | 25.8% | 19.7% | 23.0% | 11.7% | 54.3% | 43.0% | 36.7% | 70.0% | 39.6% |
| Margem Operacional | -42.4% | 3.7% | 4.7% | 13.9% | -0.4% | 43.0% | 23.7% | 19.4% | 37.4% | 26.0% |
| Margem EBITDA | -17.8% | 34.1% | 17.2% | 16.4% | 28.1% | 45.3% | 42.3% | 41.0% | 55.2% | 50.0% |
| Margem Líquida | -71.0% | -4.3% | -23.0% | -13.5% | -29.0% | 27.0% | 13.8% | 2.1% | 26.0% | 13.2% |
| Margem FCF | -161.9% | -40.4% | -28.1% | 0.9% | -47.4% | -76.1% | -26.5% | 28.0% | 0.6% | 10.8% |
| Taxa Efetiva de Imposto | -0.1% | -0.0% | -0.1% | -0.5% | -0.0% | 0.0% | -0.2% | 0.0% | 0.0% | 0.0% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $-6553.54 | $-2022.77 | $-1643.76 | $7.92 | $-8.97 | $-6.09 | $-1.88 | $1.67 | $0.05 | $0.83 |
| Dividendo por Ação | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.01 | $0.33 | $0.54 | $0.46 |
| Ações em Circulação (Básicas) | $8563 | $14935 | $15669 | $95829 | $3.3M | $15.3M | $17.4M | $18.4M | $19.9M | $20.5M |
O que olhar em Industriais
Aeroespacial, defesa, maquinaria, transporte. Semi-cíclicos. Chave: backlog, margens operacionais e conversão de FCF.
- Crescimento receita 5 anos — Sem crescimento, não há criação de valor a longo prazo
- Margem operacional — O melhor indicador de disciplina operacional em industriais
- ROIC — Industriais de qualidade têm ROIC >15% — os outros destroem capital
- Conversão FCF — FCF / Net Income — em industriais bom >85%
- Dívida líquida / EBITDA — Industriais cíclicos com dívida alta sofrem muito em recessão
- Capex / Receita — Manter a maquinaria. <4% = possível subinvestimento (deterioração futura)
- Altman Z-Score — Modelo de falência (NYU 1968) — combina liquidez, alavancagem e rentabilidade. Chave em cíclicas
Rentabilidade
| Retorno sobre patrimônio | 20.72% |
| Retorno sobre capital investido | 11.84% |
| Retorno sobre ativos | 9.30% |
| Margem bruta | 50.70% |
| Margem operacional | 37.03% |
| Margem líquida | 30.69% |
Saúde financeira
| Dívida / Patrimônio | 0.94 |
| Liquidez corrente | 0.74 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 0.05 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | -0.95 | -11.40 | -0.89 | -0.70 | -0.97 | 3.37 | 5.11 | 63.17 | 3.29 | 9.05 |
| P/VP | 0.76 | 0.89 | 0.88 | 0.28 | 0.19 | 0.57 | 0.39 | 0.61 | 0.53 | 0.67 |
| P/V | 0.67 | 0.49 | 0.20 | 0.10 | 0.28 | 0.91 | 0.69 | 1.26 | 0.83 | 1.20 |
| Margem Bruta | -26.3% | 25.8% | 19.7% | 23.0% | 11.7% | 54.3% | 43.0% | 36.7% | 70.0% | 39.6% |
| Margem Operacional | -42.4% | 3.7% | 4.7% | 13.9% | -0.4% | 43.0% | 23.7% | 19.4% | 37.4% | 26.0% |
| Margem Líquida | -71.0% | -4.3% | -23.0% | -13.5% | -29.0% | 27.0% | 13.8% | 2.1% | 26.0% | 13.2% |