EFFECTS OF THE COVID-19 PANDEMIC ON THE FINANCIAL PERFORMANCE OF HEALTHCARE COMPANIES LISTED ON THE B3: A QUANTITATIVE ANALYSIS OF LIQUIDITY, INDEBTEDNESS, AND PROFITABILITY INDICATORS (2020–2024)

Abstract

This study analyzed the evolution of the financial health of healthcare companies listed on B3 from 2020 to 2024, under the perspective of Financial Accounting and ratio analysis. A quantitative, descriptive, and longitudinal approach was adopted, comparing the Pandemic Phase (2020–2021) with the Post-Pandemic Phase (2023–2024), using the indicators of Current Liquidity, Total Leverage, EBITDA Margin, and Return on Assets (ROA). The sample comprised four representative firms in the sector, with data extracted from standardized financial statements and analyzed through Horizontal Analysis of sector medians and the Wilcoxon Signed-Rank Test. The results indicate a statistically significant increase in liquidity and a reduction in leverage in the post-pandemic period. Profitability exhibited an asymmetry: while EBITDA margin declined significantly, ROA increased, suggesting that improvements in overall profitability were primarily driven by financial factors rather than operational performance.