There are many methods for the economic and financial analysis of the companies. Among them, for many reasons, the most used one is the analyses through the index (MATARAZZO, 1998). Although a research in the specialized Brazilian bibliography enabled to identify more than two hundreds of different indexes. It’s selection by the usage criterion for the biggest number of authors reduced them into twenty-six indexes. From the specific operational features of forestry companies - his long operational cycle - it’s assumed that the usage of those indexes of generalized use in the economic and financial analysis of any company - whose operational cycle are relatively short - it isn’t adequate for the forestry companies analysis. Currently, there isn’t any references about specific indexes for the economic and financial analysis of forestry enterprises. It’s assumed that this difference between the operational cycles would result in economic and financial performance, as well as in totally diverse patrimonial conditions. There isn’t any reference about this pressupose either. Among others, one of the algorithms of big utility for the research is given by the factorial analysis, according JOHNSON & WICHERN (1998). According to the same authors, this technique let classify them by it’s participation in the totally variable data. Therefore, the main objective of this research was to invetigate, whith the factorial analysis usage, in what measure the indexes usaually applied to the economic and financial analysis of any enterprises can be used in the analysis of forestry companies. The twenty six indexes selected were applied on the balance of two hundred and thirty seven companies built up the legal modality of anonymous society of open capital, within which three wood companies, and eight paper and cellulose producer companies. Though this obtained a data matrix of two hundred thirty seven lines by twenty six columns, about which applied the statistical multivariate techniques, in particular the factorial analysis. The classification of the companies, by the factorial scores, made it possible to test which indexes are adequate to analyze what kind of companies. The result showed that some of these twenty-six indexes are not adequate to the analysis of those eleven companies linked to the forestry area.
economical analysis rate; operational cycle; forestry companies; multivariate analysis; factorial analysis
