O Termômetro de Kanitz e análise de índices tradicionais: estudo de caso na empresa Fibria do Grupo Votorantim

Abstract

In order to remain on market, companies must be aware of their financial situation to avoid risk scenarios leading to bankruptcy. In order to predict possible bankruptcy of companies, methods have been developed to show the company's financial situation and reveal cases of insolvency, collaborating in a positive way for a more efficient and effective decision-making to reverse this situation. Thus, the general objective of this research is analyze the state of solvency / insolvency in the Fibria company, from Votorantim Group during the years 2012 to 2015, using the Kanitz Thermometer and traditional index analysis, and then verify what information about the company's financial situation both methods produce. To obtain the results, a case study and an exploratory research were carried out based on the Financial Statements published by the company in study - Balance Sheet and Income Statement for the Year. Through the study, it can be observed that the Kanitz Thermometer revealed a solvency situation in the company during all years, although the traditional index analysis showed deficiency in the company in some points, as example are the results found in General and Immediate Liquidities indexes and in the Return on Equity.