Consultative Research

According to research of the consultoria, the average yield of the companies is of 17%, while of the banks was of 21% in the year of 2004. The difference seems small at a first moment, but it has distortions in the data. If they will be removed of the list the Valley of the River Candy and the Petrobra’s, that shows well above-normal yield, the average of the company falls for 12,7%. The yield of the equity (PL) of the Valley is of 35,5% and of the percentile Petrobra’s of 28,68%.O of 12,7%, exactly well below of the average of the banks, it still includes company great, as the Usiminas and the Gerdau. The siderurgical gaucho is a case to the part and obtained to rentabilizar 46.62% of the PL in 2004. Already the Metallurgic Gerdau still was more far, with 48,53%. The Usiminas arrived to reach a percentage of 50,74% in the last year.

Plus a case to the part she is the Souza Cross that has the index in 45,29%. The Embraer, another Brazilian giant, has the pointer of 28,43%.Outras company of great transport had obtained rentabilidades well lower, although the size. The Ambev, for example, got in 2004, a percentage of 6,83%. The Bras-kem, Brazilian petrochemical greater, registered 16.5%. The sector of telecommunications shows modest profits. Brazil Telecom obtained a percentage of 4,27%, Telemar 9.43%. Already the Embratel Participation and the Cellular Telesp had had negative yield of 7,5% and 16,86%, respectively. The percentage of the biggest Brazilian private bank, the Bradesco was, to the end of 2004, in 20,1%.

Already the Ita, according to giant of the sector, obtained to rentabilizar 28.2%. The great profits are not only with the biggest banks. The Factor, that has a PL of R$ 63,915 million, obtained to rentabilizar 42%. Other institutions, as the Banespa and the Lloyds, acquired for HSBC, had gotten resulted above of 30%.