Comparison of financial results of companies with different production systems: a case study of lean manufacturing and industry 4.0

Abstract

This research article aims to compare two companies, one in the commercial aviation segment (E) and the other in the cosmetic segment (N), considering the differences presented between them in relation to their production systems using lean manufacturing tools and perspective on the technologies of industry 4.0. The methodology to be used is the Discounted Cash Flow (DCF), applying the method to the two companies and performing the analysis, discussion, and comparison of projections and enterprise value obtained for each one. In the end, company N obtained growth projections and enterprise value significantly higher than the results obtained by E, whose enterprise value presents a negative sign. The present research compared only two companies in one specific market segment. It is important to amplify the field of investigation for others and compare companies that belong to the same segment. As the implication, we have the fact that the figure of the COVID-19 pandemic period considered, and the answers from each company could be different to recover from the pandemic. This research work presents as originality the methodology of evaluating the financial impact of the companies which apply lean and Industry 4.0 tools in the open capital enterprise.