The CFOs of the , a survey that highlights the 88 publicly traded Brazilian companies that grow more and more consistently, deliver the highest percentages of Return on Net Equity (ROE) and Dividends x Net Equity in relation to the average result of publicly traded companies .
“In this period, in which the economy and the market are less favorable, CFOs cannot lose the ability to act with discipline both when dealing with numbers and strategies to retain talent. It is aspects like this that highlight the work of finance professionals”, says José Filippo, member of the board of directors of the Brazilian Institute of Finance Executives of São Paulo (IBEF-SP) and CFO of Fleury, one of the companies in the Elite InfoMoney.
By balancing cash and directing resources assertively within the business, professionals in charge of finance lead companies to overcome limits to gain – or reaffirm – a presence among Brazil’s business elite.
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Successful management
To get to the list of companies – and CFOs – highlighted, the InfoMoney promoted, in partnership with the consultancy Elos Ayta Consultoria, which measure the performance and consistency of companies’ results, in addition to the value of brands in the market.
While all companies listed on B3 delivered, on average, 10.89% ROE in 2023, the 88 companies that represent Elite InfoMoney achieved an ROE* of 13.10% in the same period. CFOs stand out for their ability to generate value for the business, and for investors, by managing resources assertively.
Another indicator in evidence is Dividends x Shareholders’ Equity* – a metric that indicates the attractiveness of dividend earnings in the market. In this regard, while the average number of companies listed on B3 was 2.82% in 2023, companies in the Elite InfoMoney presented a percentage of 4.39%.
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“The CFO, in theory, is primarily responsible for delivering a good financial result, which is why we evaluate the ROE. As most of these professionals also work in the Investor Relations department, they also aim to remunerate those who invest well, which justifies the choice to highlight the indicator of Dividends x Net Equity”, points out Einar Rivero, founder of Elos Ayta Consultoria.
Featured sectors
Among the ten sectors that appear in the Elite InfoMoney, oil and gas stands out by delivering an average ROE of 33.52%. Regarding the Dividends x Shareholders’ Equity indicator, the number was 3.82%, above the median.
Basic materials also stood out, with ROE of 15.66% and Dividends x Shareholders’ Equity of 5.71%. “Both sectors also benefited from the volatility of commodity prices on the international market”, says Filippo.
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The financial segment, in turn, stands out with 15.6% ROE in 2023 and 4.78% Dividends x Shareholders’ Equity. “These are businesses that have managed to protect themselves and stand out by continuing to deliver good results to shareholders even in a challenging environment for the economy amid high interest rates”, points out Filippo.
Performance dos CFOs
Beyond the numbers, successful CFOs are those who deal well with process changes within companies. This reflects the responsibility to contribute to optimizing the management of large databases and the implementation of digitalization in business, which translates into the good use of resources – or where to invest to generate cash and enable investments in these areas.
“The relationship part is also increasingly important. The CFO’s influence over employees is growing. So, we must always be up to date on issues that move society and the market. ESG, for example, has figured in many agendas”, points out Filippo when referring to the experience exchanged with colleagues at IBEF meetings.
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All these issues encourage CFOs not only to take a stance, but also to communicate these actions well to the market and society. “These are challenges to be faced at a time when the international economic and geopolitical scenario is as challenging or more challenging than our domestic reality”, says Filippo.
*All percentages translate into the companies’ average results for the year
