Demonstrações financeiras detalhadas de TTEC Holdings, Inc. (TTEC): 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
TTEC Holdings, Inc. registou receitas de $2.14B no último exercício, com um CAGR de 5 anos de 1.9%.
Margens dos últimos 12 meses: margem bruta 20.4%, margem operacional 3.9%, margem líquida -10.2%. O fluxo de caixa livre cresceu a CAGR de -17.4% em 5 anos.
Ao preço atual de $1.21, TTEC apresenta lucros negativos (P/L não significativo) e um ROE de -162.47%. A capitalização de mercado é de $59M.
Demonstração de Resultados (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Receita | $1.28B | $1.48B | $1.51B | $1.64B | $1.95B | $2.27B | $2.44B | $2.46B | $2.21B | $2.14B |
| Custo da Receita | $941.6M | $1.11B | $1.16B | $1.24B | $1.45B | $1.70B | $1.86B | $1.93B | $1.74B | $1.67B |
| Lucro Bruto | $333.7M | $367.3M | $351.2M | $400.8M | $496.5M | $569.0M | $587.2M | $529.9M | $471.7M | $466.2M |
| P&D | 0 | $11.1M | $300000 | 0 | 0 | 0 | $6.0M | $100000 | 0 | 0 |
| Despesas Gerais e Administrativas | $175.8M | $182.3M | $182.4M | $202.5M | $203.9M | $240.0M | $287.4M | $290.9M | $293.0M | $280.3M |
| Despesas Operacionais | $244.5M | $246.8M | $251.6M | $271.6M | $291.8M | $351.8M | $418.6M | $411.9M | $645.2M | $370.1M |
| Lucro Operacional | $52.8M | $100.5M | $92.1M | $123.7M | $204.7M | $217.2M | $168.5M | $118.0M | -$173.5M | $96.1M |
| EBITDA | $157.9M | $168.7M | $157.1M | $198.3M | $266.6M | $317.0M | $301.2M | $220.3M | -$54.2M | -$8.8M |
| Despesas com Juros | $7.9M | $13.7M | $28.7M | $19.1M | $17.5M | $12.4M | $36.1M | $78.3M | $84.3M | $71.7M |
| Lucro Antes de Impostos | $50.3M | $88.9M | $56.2M | $110.4M | $170.3M | $207.9M | $144.4M | $40.7M | -$236.5M | -$170.2M |
| Imposto | $12.9M | $78.1M | $16.5M | $25.7M | $40.9M | $49.7M | $27.1M | $22.5M | $74.1M | $14.8M |
| Lucro Líquido | $33.7M | $7.3M | $35.8M | $77.2M | $118.6M | $141.0M | $103.2M | $8.4M | -$321.0M | -$192.5M |
| LPA | $0.71 | $0.16 | $0.78 | $1.66 | $2.54 | $3.01 | $2.19 | $0.18 | $-6.74 | $-3.99 |
| LPA Diluído | $0.71 | $0.16 | $0.77 | $1.65 | $2.52 | $2.97 | $2.18 | $0.18 | $-6.74 | $-3.99 |
| Ações em Circulação (Diluídas) | $47.7M | $46.4M | $46.4M | $46.8M | $47.0M | $47.4M | $47.3M | $47.4M | $47.6M | $48.2M |
Demonstração de Resultados (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Receita | $519.1M | $570.0M | $496.1M | $455.5M |
| Lucro Bruto | $105.5M | $126.7M | $86.9M | $97.7M |
| Lucro Operacional | $14.5M | $33.9M | $20.4M | $11.0M |
| EBITDA | $38.7M | -$147.2M | $40.9M | $33.4M |
| Lucro Líquido | -$13.4M | -$172.5M | -$7.6M | -$15.4M |
| LPA | $-0.28 | $-3.57 | $-0.16 | $-0.31 |
| LPA Diluído | $-0.28 | $-3.57 | $-0.16 | $-0.31 |
Balanço (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caixa e Equivalentes | $55.3M | $74.4M | $78.2M | $82.4M | $132.9M | $158.2M | $153.4M | $172.7M | $85.0M | $82.9M |
| Investimentos de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Contas a Receber | $300.8M | $391.9M | $351.0M | $371.1M | $419.3M | $405.4M | $463.2M | $413.4M | $474.4M | $466.4M |
| Estoque | $10.7M | $7.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Ativos Circulantes | $433.7M | $542.8M | $526.5M | $549.8M | $656.8M | $698.0M | $750.0M | $681.2M | $652.3M | $673.4M |
| Imobilizado | $151.0M | $163.3M | $161.5M | $327.4M | $299.5M | $258.6M | $275.8M | $312.6M | $223.3M | $197.8M |
| Ágio | $129.6M | $206.7M | $204.6M | $301.7M | $363.5M | $739.5M | $807.8M | $809.0M | $571.2M | $368.7M |
| Ativos Intangíveis | $30.8M | $92.1M | $80.9M | $115.6M | $112.1M | $212.3M | $233.9M | $198.4M | $164.8M | $133.7M |
| Ativos Totais | $846.3M | $1.08B | $1.05B | $1.38B | $1.52B | $2.00B | $2.15B | $2.19B | $1.75B | $1.50B |
| Contas a Pagar | $38.2M | $46.4M | $59.4M | $64.4M | $66.7M | $70.4M | $93.9M | $96.6M | $84.2M | $72.6M |
| Dívida de Curto Prazo | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Passivos Circulantes | $178.7M | $200.5M | $235.4M | $363.3M | $396.2M | $444.4M | $411.4M | $403.0M | $353.9M | $356.0M |
| Dívida de Longo Prazo | $217.3M | $344.0M | $282.0M | $290.0M | $385.0M | $791.0M | $960.0M | $995.0M | $975.0M | $905.0M |
| Passivos Totais | $484.4M | $715.9M | $701.7M | $945.1M | $1.01B | $1.40B | $1.52B | $1.57B | $1.49B | $1.39B |
| Reservas | $735.9M | $721.7M | $725.6M | $773.2M | $757.3M | $856.1M | $911.2M | $870.4M | $546.6M | $354.2M |
| Patrimônio Líquido | $361.9M | $362.8M | $352.8M | $418.5M | $444.7M | $522.2M | $559.9M | $598.6M | $250.3M | $95.1M |
| Dívida Total | $217.3M | $344.0M | $282.0M | $462.6M | $526.9M | $899.9M | $1.06B | $1.13B | $1.08B | $1.00B |
| Dívida Líquida | $162.0M | $269.6M | $203.8M | $380.2M | $394.0M | $741.7M | $911.4M | $957.3M | $994.4M | $917.5M |
| Capital de Giro | $255.1M | $342.3M | $291.1M | $186.5M | $260.6M | $253.6M | $338.6M | $278.2M | $298.4M | $317.4M |
Balanço (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caixa e Equivalentes | $73.5M | $82.9M | $88.7M | $93.9M |
| Ativos Totais | $1.68B | $1.50B | $1.41B | $1.37B |
| Passivos Totais | $1.40B | $1.39B | $1.31B | $1.28B |
| Patrimônio Líquido | $263.4M | $95.1M | $83.5M | $72.2M |
| Dívida Total | $983.5M | $1.06B | $973.4M | $933.4M |
Fluxo de Caixa (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Lucro Líquido | $37.4M | $10.8M | $39.8M | $84.7M | $129.3M | $158.2M | $117.3M | $18.3M | -$310.6M | -$185.1M |
| Depreciação e Amortização | $68.7M | $64.5M | $69.2M | $69.1M | $78.9M | $96.7M | $111.8M | $101.3M | $98.0M | $89.8M |
| Compensação em Ações | $9.8M | $11.9M | $12.1M | $12.8M | $12.5M | $16.4M | $17.6M | $22.1M | $18.7M | $13.4M |
| Variação Capital de Giro | -$42.9M | $1.0M | $18.3M | $64.0M | $24.5M | -$30.5M | -$127.4M | -$18.2M | -$165.0M | $4.5M |
| Fluxo de Caixa Operacional | $107.9M | $113.2M | $168.3M | $238.0M | $271.9M | $251.3M | $137.0M | $144.8M | -$58.8M | $119.6M |
| CapEx | -$50.8M | -$52.0M | -$43.5M | -$60.8M | -$59.8M | -$60.4M | -$84.0M | -$67.8M | -$45.2M | -$38.1M |
| Aquisições | -$49.6M | -$117.1M | -$4.1M | -$102.5M | -$52.7M | -$481.7M | -$142.4M | 0 | 0 | -$3.7M |
| Recompra de Ações | -$74.7M | -$18.3M | 0 | -$5.5M | 0 | 0 | -$7.2M | -$3.0M | -$1.0M | 0 |
| Dividendos Pagos | -$18.3M | -$21.5M | -$25.3M | -$28.7M | -$134.6M | -$42.2M | -$48.1M | -$49.2M | -$2.8M | 0 |
| Fluxo de Caixa Livre | $57.1M | $61.2M | $124.9M | $177.2M | $212.1M | $190.9M | $53.0M | $76.9M | -$104.0M | $81.5M |
Fluxo de Caixa (Trimestral)
| Ano | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Fluxo de Caixa Operacional | $4.2M | $2.6M | $27.4M | $51.3M |
| CapEx | -$13.8M | -$11.7M | -$6.4M | -$12.6M |
| Fluxo de Caixa Livre | -$9.6M | -$9.2M | $21.0M | $38.7M |
| Dividendos Pagos | 0 | 0 | 0 | 0 |
| Compensação em Ações | $3.1M | $3.1M | $2.8M | $2.3M |
Crescimento e Margens (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crescimento Receita (anual) | | +15.8% | +2.2% | +8.9% | +18.6% | +16.6% | +7.5% | +0.8% | -10.4% | -3.2% |
| Crescimento Lucro Líquido (anual) | | -78.5% | +393.6% | +115.4% | +53.8% | +18.8% | -26.8% | -91.8% | -3908.3% | +40.0% |
| Crescimento LPA (anual) | | -77.5% | +387.5% | +112.8% | +53.0% | +18.5% | -27.2% | -91.8% | -3844.4% | +40.8% |
| Variação de Ações (anual) | | -2.8% | +0.0% | +0.8% | +0.5% | +0.8% | -0.1% | +0.2% | +0.4% | +1.3% |
| Crescimento FCF (anual) | | +7.2% | +104.1% | +41.9% | +19.7% | -10.0% | -72.2% | +45.0% | -235.2% | +178.4% |
| Margem Bruta | 26.2% | 24.9% | 23.3% | 24.4% | 25.5% | 25.0% | 24.0% | 21.5% | 21.4% | 21.8% |
| Margem Operacional | 4.1% | 6.8% | 6.1% | 7.5% | 10.5% | 9.6% | 6.9% | 4.8% | -7.9% | 4.5% |
| Margem EBITDA | 12.4% | 11.4% | 10.4% | 12.1% | 13.7% | 13.9% | 12.3% | 8.9% | -2.5% | -0.4% |
| Margem Líquida | 2.6% | 0.5% | 2.4% | 4.7% | 6.1% | 6.2% | 4.2% | 0.3% | -14.5% | -9.0% |
| Margem FCF | 4.5% | 4.1% | 8.3% | 10.8% | 10.9% | 8.4% | 2.2% | 3.1% | -4.7% | 3.8% |
| Taxa Efetiva de Imposto | 25.6% | 87.8% | 29.3% | 23.3% | 24.0% | 23.9% | 18.8% | 55.2% | -31.3% | -8.7% |
Dados por Ação (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Ação | $1.20 | $1.32 | $2.69 | $3.79 | $4.51 | $4.03 | $1.12 | $1.62 | $-2.18 | $1.69 |
| Dividendo por Ação | $0.38 | $0.46 | $0.55 | $0.61 | $2.86 | $0.89 | $1.02 | $1.04 | $0.06 | $0.00 |
| Ações em Circulação (Básicas) | $47.4M | $45.8M | $46.1M | $46.4M | $46.6M | $46.9M | $47.1M | $47.3M | $47.6M | $48.2M |
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 | -162.47% |
| Retorno sobre capital investido | 7.34% |
| Retorno sobre ativos | -15.20% |
| Margem bruta | 20.42% |
| Margem operacional | 3.91% |
| Margem líquida | -10.23% |
Saúde financeira
| Dívida / Patrimônio | 12.93 |
| Liquidez corrente | 1.87 |
Índices Chave (10 anos)
| Ano | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/L | 42.96 | 251.56 | 36.63 | 23.87 | 28.71 | 30.08 | 20.15 | 120.39 | -0.74 | -0.90 |
| P/VP | 4.00 | 5.08 | 3.73 | 4.39 | 7.65 | 8.13 | 3.71 | 1.71 | 0.95 | 1.83 |
| P/V | 1.13 | 1.25 | 0.87 | 1.12 | 1.75 | 1.87 | 0.85 | 0.42 | 0.11 | 0.08 |
| Margem Bruta | 26.2% | 24.9% | 23.3% | 24.4% | 25.5% | 25.0% | 24.0% | 21.5% | 21.4% | 21.8% |
| Margem Operacional | 4.1% | 6.8% | 6.1% | 7.5% | 10.5% | 9.6% | 6.9% | 4.8% | -7.9% | 4.5% |
| Margem Líquida | 2.6% | 0.5% | 2.4% | 4.7% | 6.1% | 6.2% | 4.2% | 0.3% | -14.5% | -9.0% |