Análise Dupont: indicadores que mais afetaram o retorno sobre o capital próprio das empresas do subsetor comércio e varejo, antes e durante a pandemia.

Abstract

The health crisis resulting from the Sars-Cov-2 Coronavirus triggered an adverse external environment for many economic sectors, but also brought opportunities for others. In this regard, this study aims to compare the economic-financial and market performance of companies in the Retail Trade Subsector of the stock exchange, considering the Dupont Model to identify the components that most affected the return on equity (ROE), before (2017-2019) and during the Covid-19 pandemic (2020-2022). Quantitative, descriptive, and documentary research techniques were used, employing median comparison (Wilcoxon). The main results include the Clothing Fabric and Footwear segment with the largest number of indicators significantly affected during the pandemic period, presenting reductions in profitability (ROE and ROA), net margin (ML), asset turnover (GAT), and short-term debt (ECP). In the Household Appliances segment, there was a significant difference only for ECP, which was also significant in Miscellaneous, together with GAT. In all segments, ML and GAT showed reductions, suggesting a drop in the value of sales revenue. ML had a greater share in the composition of ROE, followed by GAT. This study contributes to the literature and stakeholders by showing that in the Retail Commerce Subsector, ML and GAT were the main components that affected the composition of ROE estimated by the DuPont Model, during the pandemic period.