Traditionally short-term financial analysis is performed statically based only on the balance sheet. However in a more dynamic way Fleuriet Kehdy and Blanc (2003) have developed a model of financial analysis that is not fixed only on the analysis based on liquidity ratios but with a technique focused on the dynamics of Brazilian companies. This work was organized by Prof. Anderson Rocha Valverde and discusses two cases in the Brazilian retail sector: Lojas Americanas S/A and Grupo Pão de Açúcar S/A.