Analysis of working capital management in Brazilian retail companies listed on B3 using the Fleuriet Model

Abstract

This research aims to analyze the working capital management of Brazilian retail companies listed on B3. using the Fleuriet Model. Efficient working capital management is crucial to the financial sustainability of companies, especially in the retail sector, where the need for resources to finance daily operations is constant. The Fleuriet model reclassifies the components of the balance sheet, providing a clear view of financing and liquidity needs. The general objective of this study was to analyze the financial performance of these three companies through the traditional analysis of financial ratios and the Fleuriet Model. The methodology used is qualitative and descriptive, combining bibliographic research, case study and documentary analysis. The data was collected in the accounting reports for the years 2020, 2021 and 2022 and reclassified according to the model proposed by Fleuriet. The results indicated that Magazine Luiza showed a significant recovery in working capital management, despite a negative NCG. Atacadão demonstrated operational efficiency, but a worrying drop in CDG and general treasury balance in 2022. Lojas Quero Quero showed continued improvement in CDG and general treasury balance, albeit with a negative NCG. It was concluded that the efficient management of working capital is supported by the Fleuriet Model, proving to be fundamental for the financial health and sustainability of the companies analyzed.