Demonstrações financeiras detalhadas de Sprott Inc. (SII): 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
Sprott Inc. registou receitas de $268.8M no último exercício, com um CAGR de 5 anos de 18.6%. O lucro líquido atingiu $67.3M, com CAGR de 5 anos de 20.1%.
Margens dos últimos 12 meses: margem bruta 76.9%, margem operacional 34.5%, margem líquida 26.7%. O fluxo de caixa livre cresceu a CAGR de 30.3% em 5 anos.
Ao preço atual de $124.08, SII negocia a um P/L de 31.61 e um ROE de 18.34%. A capitalização de mercado é de $3.2B.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $10.5M | $12.4M | $11.3M | $15.2M | $114.4M | $164.9M | $154.3M | $141.4M | $168.4M | $268.8M |
| Custo da Receita | 0 | 0 | 0 | $1.4M | $57.6M | $86.5M | $87.7M | $83.9M | $87.5M | $168.3M |
| Lucro Bruto | $10.5M | $12.4M | $11.3M | $13.8M | $56.8M | $78.5M | $66.6M | $57.6M | $80.8M | $100.5M |
| P&D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Despesas Gerais e Administrativas | $37.0M | $26.2M | $21.7M | $18.1M | $13.7M | $14.7M | $16.0M | $16.6M | $18.8M | $18.5M |
| Despesas Operacionais | -$17.6M | -$22.0M | -$12.7M | -$3.4M | $17.8M | $19.2M | $19.3M | $19.4M | $21.0M | $21.0M |
| Lucro Operacional | $28.2M | $34.4M | $24.0M | $17.3M | $39.0M | $59.2M | $47.3M | $38.2M | $59.8M | $79.5M |
| EBITDA | $13.3M | $19.1M | $25.9M | $23.7M | $40.0M | $50.9M | $31.4M | $57.2M | $74.3M | $94.1M |
| Despesas com Juros | 0 | 0 | 0 | 0 | $1.2M | $1.2M | $2.9M | $4.1M | $3.1M | $1.2M |
| Lucro Antes de Impostos | $28.2M | $34.4M | $24.0M | $17.3M | $34.7M | $45.2M | $25.1M | $50.3M | $69.0M | $90.4M |
| Imposto | $4.7M | $4.6M | $938305 | $3.7M | $7.7M | $12.0M | $7.4M | $8.5M | $19.7M | $23.0M |
| Lucro Líquido | $23.5M | $29.8M | $23.0M | $13.6M | $27.0M | $33.2M | $17.6M | $41.8M | $49.3M | $67.3M |
| LPA | $0.96 | $1.25 | $0.90 | $0.57 | $1.10 | $1.33 | $0.68 | $1.66 | $1.94 | $2.66 |
| LPA Diluído | $0.95 | $1.21 | $0.90 | $0.55 | $1.05 | $1.28 | $0.65 | $1.60 | $1.91 | $2.65 |
| Ações em Circulação (Diluídas) | $24.8M | $24.6M | $25.5M | $25.7M | $25.8M | $25.9M | $26.2M | $26.1M | $25.9M | $25.8M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $57.9M | $107.0M | $141.9M | $79.5M |
| Lucro Bruto | $14.7M | $41.3M | $47.3M | $50.6M |
| Lucro Operacional | $9.6M | $35.6M | $40.8M | $44.8M |
| EBITDA | $18.2M | $39.5M | $42.9M | $47.2M |
| Lucro Líquido | $13.2M | $28.7M | $29.2M | $34.3M |
| LPA | $0.51 | $1.13 | $1.12 | $1.33 |
| LPA Diluído | $0.51 | $1.13 | $1.12 | $1.33 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $92.2M | $124.2M | $34.7M | $54.7M | $44.1M | $49.8M | $51.7M | $20.7M | $46.8M | $117.9M |
| Investimentos de Curto Prazo | $109.8M | $51.3M | $19.6M | $17.5M | $9.5M | $6.1M | $3.3M | $2.2M | $225000 | $5.8M |
| Contas a Receber | $29.2M | $13.8M | $8.6M | $10.1M | $22.5M | $14.8M | $13.2M | $8.7M | $17.5M | $49.4M |
| Estoque | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $238.5M | $219.6M | $81.5M | $95.3M | $85.3M | $77.5M | $77.0M | $45.1M | $79.2M | $173.0M |
| Imobilizado | $4.7M | $4.2M | $9.1M | $16.2M | $16.6M | $16.5M | $12.5M | $10.9M | $19.2M | $21.2M |
| Ágio | $19.1M | $19.1M | $19.2M | $19.1M | $19.1M | $19.1M | $19.1M | $19.1M | $19.1M | $13.9M |
| Ativos Intangíveis | $17.2M | $13.1M | $108.9M | $114.1M | $156.0M | $170.1M | $178.6M | $182.9M | $168.3M | $133.3M |
| Ativos Totais | $327.4M | $325.9M | $428.2M | $324.9M | $377.3M | $365.9M | $383.7M | $378.8M | $388.8M | $524.4M |
| Contas a Pagar | $18.2M | $12.6M | $32.1M | $23.6M | $29.7M | $9.4M | $10.7M | $12.6M | $7.6M | $9.9M |
| Dívida de Curto Prazo | 0 | $7.9M | $5.5M | $3.8M | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Circulantes | $56.6M | $51.3M | $38.2M | $35.2M | $47.2M | $28.1M | $25.8M | $21.4M | $30.3M | $97.5M |
| Dívida de Longo Prazo | 0 | 0 | 0 | $11.5M | $17.0M | $29.8M | $54.4M | $24.2M | 0 | 0 |
| Passivos Totais | $59.3M | $52.5M | $55.1M | $53.3M | $86.4M | $74.7M | $106.5M | $73.1M | $65.2M | $158.5M |
| Reservas | -$126.3M | -$94.1M | -$117.2M | -$108.2M | -$104.5M | -$97.0M | -$105.3M | -$89.4M | -$67.3M | -$33.4M |
| Patrimônio Líquido | $268.1M | $273.5M | $373.1M | $271.6M | $291.0M | $291.2M | $277.3M | $305.7M | $323.6M | $367.2M |
| Dívida Total | 0 | $7.9M | $5.5M | $15.3M | $17.0M | $29.8M | $54.4M | $24.2M | 0 | 0 |
| Dívida Líquida | -$144.4M | -$167.6M | -$48.8M | -$56.9M | -$36.6M | -$26.2M | -$589000 | $1.3M | -$47.1M | -$123.8M |
| Capital de Giro | $182.0M | $168.3M | $43.4M | $60.2M | $38.1M | $49.4M | $51.2M | $23.6M | $48.9M | $75.5M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $79.9M | $117.9M | $173.9M | $189.8M |
| Ativos Totais | $466.2M | $524.4M | $504.3M | $515.8M |
| Passivos Totais | $121.4M | $158.5M | $124.2M | $123.6M |
| Patrimônio Líquido | $344.7M | $367.2M | $380.0M | $392.2M |
| Dívida Total | 0 | 0 | 0 | 0 |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $23.5M | $29.8M | $23.0M | $10.2M | $27.0M | $33.2M | $17.6M | $41.8M | $49.3M | $67.3M |
| Depreciação e Amortização | $5.5M | $5.1M | $1.6M | $3.8M | $4.1M | $4.6M | $3.4M | $2.8M | $2.1M | $2.5M |
| Compensação em Ações | $4.8M | $5.3M | $9.1M | $5.4M | $4.5M | $3.6M | $17.0M | $20.4M | $17.6M | $73000 |
| Variação Capital de Giro | $31.9M | $10.5M | $36.4M | $11.6M | -$12.1M | $5.1M | -$14.6M | -$8.6M | -$8.7M | $52.7M |
| Fluxo de Caixa Operacional | $42.9M | $41.5M | $70.1M | $33.0M | $26.2M | $51.2M | $32.5M | $29.9M | $69.2M | $97.7M |
| CapEx | -$14.0M | -$815109 | -$90.7M | -$2.2M | -$686000 | -$693000 | -$128000 | -$1.5M | -$1.8M | -$1.9M |
| Aquisições | 0 | 0 | $85.0M | 0 | 0 | 0 | 0 | $4.6M | 0 | 0 |
| Recompra de Ações | 0 | -$8.7M | 0 | -$1.7M | -$2.0M | 0 | -$3.0M | -$4.2M | -$2.0M | -$1.6M |
| Dividendos Pagos | -$22.1M | -$23.1M | -$21.5M | -$22.9M | -$23.1M | -$25.6M | -$25.8M | -$25.8M | -$27.1M | -$33.5M |
| Fluxo de Caixa Livre | $29.0M | $40.7M | -$20.6M | $30.8M | $25.6M | $50.6M | $32.4M | $28.3M | $67.3M | $95.8M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $10.0M | $51.9M | $43.7M | $35.4M |
| CapEx | -$414000 | -$323000 | -$534494 | -$796000 |
| Fluxo de Caixa Livre | $9.6M | $51.6M | $43.2M | $34.7M |
| Dividendos Pagos | -$7.7M | -$10.3M | -$10.3M | -$10.3M |
| Compensação em Ações | $19000 | $18000 | 0 | 0 |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +17.7% | -8.7% | +34.3% | +651.8% | +44.2% | -6.5% | -8.3% | +19.0% | +59.7% |
| Crescimento Lucro Líquido (anual) | | +27.2% | -22.8% | -41.0% | +98.4% | +23.0% | -46.9% | +137.1% | +17.9% | +36.6% |
| Crescimento LPA (anual) | | +30.2% | -28.0% | -36.7% | +93.0% | +20.9% | -48.9% | +144.1% | +16.9% | +37.1% |
| Variação de Ações (anual) | | -0.5% | +3.6% | +0.7% | +0.4% | +0.5% | +1.1% | -0.4% | -0.7% | -0.2% |
| Crescimento FCF (anual) | | +40.4% | -150.8% | +249.3% | -17.1% | +97.8% | -36.0% | -12.5% | +137.5% | +42.4% |
| Margem Bruta | 100.0% | 100.0% | 100.0% | 90.9% | 49.7% | 47.6% | 43.2% | 40.7% | 48.0% | 37.4% |
| Margem Operacional | 267.2% | 277.7% | 211.7% | 113.4% | 34.1% | 35.9% | 30.7% | 27.0% | 35.5% | 29.6% |
| Margem EBITDA | 126.4% | 153.6% | 228.7% | 155.7% | 34.9% | 30.9% | 20.3% | 40.4% | 44.1% | 35.0% |
| Margem Líquida | 222.7% | 240.7% | 203.4% | 89.4% | 23.6% | 20.1% | 11.4% | 29.6% | 29.3% | 25.1% |
| Margem FCF | 274.8% | 327.9% | -182.2% | 202.6% | 22.3% | 30.6% | 21.0% | 20.0% | 40.0% | 35.7% |
| Taxa Efetiva de Imposto | 16.7% | 13.3% | 3.9% | 21.2% | 22.2% | 26.6% | 29.7% | 16.9% | 28.6% | 25.5% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.17 | $1.65 | $-0.81 | $1.20 | $0.99 | $1.95 | $1.24 | $1.09 | $2.60 | $3.71 |
| Dividendo por Ação | $0.89 | $0.94 | $0.84 | $0.89 | $0.90 | $0.99 | $0.98 | $0.99 | $1.05 | $1.30 |
| Ações em Circulação (Básicas) | $24.3M | $23.9M | $25.5M | $24.4M | $24.5M | $24.9M | $25.1M | $25.2M | $25.4M | $25.8M |
O que olhar em Serviços Financeiros
Asset managers, brokers, fintech, bolsas. Não são bancos — olha AUM, comissões e qualidade do FCF.
- Crescimento receita 5 anos — Sem crescimento, não há criação de valor a longo prazo
- Margem operacional — Bons asset managers têm margens >30% pela escalabilidade
- ROE — Serviços financeiros de qualidade têm ROE >15% consistente
- FCF / Net Income — Qualidade do lucro — >90% esperado em negócios leves em capital
- Dívida / Equity — Fintech e brokers com D/E alto são bombas-relógio em crise
- P/E vs próprio 5 anos — Asset managers têm múltiplos estáveis em intervalos conhecidas
- Dividend yield + buybacks — Estes negócios devolvem muito capital — olhar yield total (div + recompras)
Rentabilidade
| Retorno sobre patrimônio | 18.34% |
| Retorno sobre capital investido | 13.88% |
| Retorno sobre ativos | 12.84% |
| Margem bruta | 76.88% |
| Margem operacional | 34.48% |
| Margem líquida | 26.68% |
Saúde financeira
| Dívida / Patrimônio | 0.00 |
| Liquidez corrente | 3.43 |
| Piotroski F-Score | 5 |
| Altman Z-Score | 10.66 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 26.31 | 19.93 | 28.51 | 52.58 | 26.35 | 33.90 | 49.01 | 20.45 | 21.74 | 36.81 |
| P/VP | 2.29 | 2.18 | 1.75 | 2.69 | 2.44 | 3.85 | 3.01 | 2.80 | 3.31 | 6.88 |
| P/V | 58.34 | 48.02 | 57.75 | 48.04 | 6.21 | 6.80 | 5.42 | 6.06 | 6.37 | 9.40 |
| Margem Bruta | 100.0% | 100.0% | 100.0% | 90.9% | 49.7% | 47.6% | 43.2% | 40.7% | 48.0% | 37.4% |
| Margem Operacional | 267.2% | 277.7% | 211.7% | 113.4% | 34.1% | 35.9% | 30.7% | 27.0% | 35.5% | 29.6% |
| Margem Líquida | 222.7% | 240.7% | 203.4% | 89.4% | 23.6% | 20.1% | 11.4% | 29.6% | 29.3% | 25.1% |