Comportamento dos custos em empresas do segmento de transporte ferroviário listadas na BM&FBOVESPA

Abstract

Monitoring the evolution of costs and expenses in relation to revenues is essential to verify whether activities are carried out under the perspective of increasing or decreasing profitability. The observation regarding cost behavior in companies is one of the main concerns of managers and investors in the management process. Understanding the direction of costs and expenses also allows determining the risk to which the company is exposed and whether the continuity of activities is under threat. Comparing with other organizations in the same industry, and analyzing whether the costs of a particular company follow the pattern of the segment, or are above or below its market, generate possibilities of analysis in relation to the future. For this, this research used a descriptive and quantitative approach through documentary analysis. The main objective of this work is to verify the behavior of costs and operating expenses in relation to the revenues from the companies of the railway sector listed on BM&FBOVESPA (B3) during the years 2013 to 2017. Among the findings, it should be noted that on average the cost of services sold - CSV of the companies analyzed is equivalent to 79.07% of Net Revenue. It was also observed that the segment's operating leverage stood at steady levels in the period, leading to evidence that the segment did not increase the risk of operations, supposedly by maintaining the representatives of fixed costs in relation to revenues.