Keywords
ROA explanation
ROA prediction
How to Cite
Abstract
This article aims to analyze the explanatory and predictive power of turnover and margin on ROA in the non-cyclical consumer sector of the publicly traded Brazilian market from 2010 to 2021. A quantitative methodology was used for data analysis, employing descriptive statistics and panel data regression with robust standard error correction. The study covers a sample of 27 companies with shares traded on B3, the Brazilian Stock Exchange, and the empirical analysis was conducted using 239 observations of the indicators under study for the specified period. The results indicate that, within these companies, the margin is a stronger explanatory factor for current-period profitability, contrary to other studies. At the same time, asset turnover has greater predictive value for future profitability, supporting previous findings. The main limitation of this study was the lack of control over inflation and market competitiveness factors. Future research could expand by applying this analysis separately to groups of companies within the sector with different levels of profitability.
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