Analysis of Cost Behavior in Companies in the Educational Services Sector Listed on B3

Abstract

The education sector contributes to the development of Brazil through the intellectual and cultural advancement of society. From the 2000s, with the creation of the Higher Education Student Financing Fund (FISH) and the University for All Program (UNIPRO), private higher education expanded considerably. Given this, the Brazilian educational market has become highly competitive. However, this scenario changed drastically in 2015 due to the economic recession combined with the reduction of FIES resources. Thus, organizations needed to adapt to an uncertain and constantly changing market through cost management and control, seeking to assist management in the decision-making process. This study aimed to investigate the cost behavior of companies listed on B3, from 2012 to 2019. This research is classified as descriptive, with a quantitative approach and document analysis, based on financial statements of companies in the educational sector listed on B3, from 2012 to 2019. The results showed consecutive positive variations in revenues, costs, and expenses in the sector during the analyzed period, decelerating in the period between 2015 and 2016. The sector average evidenced that approximately 50% of the Net Sales Revenue (NSR) was used to cover the Cost of Goods Sold (COGS). The correlation analysis showed that there was a positive and strong correlation between the COGS and the NSR (0,991).