Car rental companies are part of a market that is constantly growing in Brazil, given the growing supply and demand for the services provided by the segment. Given the context of the COVID-19 pandemic, fundamental analysis is essential to assess the performance of any entity. In view of this, this study aimed to verify the growth expectations of Localiza Rent a Car SA based on the assessment of its fundamental indicators and its standardized financial statements published on the B3 website for the years between 2021 and 2023. To this end, analyses of liquidity, capital structure and profitability ratios were applied, as well as vertical and horizontal analysis of the company's balance sheet. The aim was to examine possible impacts on Localiza's financial statements resulting from the pandemic period, and the results obtained were compared with companies in the same segment by creating standard indexes, and with previous studies that included the company evaluated. This is an applied research, with a mixed approach, documentary and bibliographic in procedures and descriptive in objectives, with non-probabilistic sampling. It was found that liquidity and profitability indicators showed a reduction over the years due, in general, to the long-term effects caused by the pandemic. Capital structure indicators, on the other hand, remained below the sector average. Understanding the macroeconomic context was crucial for the interpretation of the analyses. It was concluded that, even in the midst of economic adversities, Localiza continues to expand sharply, generating value and investing heavily in its financial leverage process, an essential factor for its operational continuity.
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Raposo et al. (2024) studied this question.