Estrategias de optimización del capital de trabajo y su impacto en la rentabilidad: un estudio comparativo en las empresas FARMAMIA CIA. LTDA., ECUADOR KAKAO PROCESSING PROECUAKAO S.A., SMURFIT KAPPA ECUADOR S.A

Abstract

Abstract: This study analyzes the impact of working capital optimization on the profitability of three Ecuadorian companies: FARMAMIA CIA. LTDA., ECUADOR KAKAO PROCESSING PROECUAKAO S.A., and SMURFIT KAPPA ECUADOR S.A. The main objective is to determine working capital optimization strategies and their impact on profitability. The methodology presents a quantitative approach with descriptive, analytical, and explanatory scope. It is informed by secondary information through the financial bulletins of the Superintendency of Banks, Securities, and Insurance. A comparative analysis of the financial indicators of liquidity, solvency, and profitability is performed, focusing on working capital optimization and its relationship with profitability. The data reflect that SMURFIT KAPPA ECUADOR S.A. It has average liquidity (current ratio 2.85 and acid test 1.96) and positive profitability (ROA 0.09; ROE 0.13), which requires optimizing inventories and accounts receivable. PROECUAKAO S.A. has high liquidity (current ratio 5.85) but negative profitability (ROA -0.02; ROE -0.01), demonstrating operational inefficiency. FARMAMIA CIA. LTDA. stands out for its high profitability (ROA 0.13; ROE 0.27) and low liquidity.