Purpose: The food and beverage industry is one of the industries that has its own specific products in the manufacturing industry, and it is indispensable for a developing economy. Therefore, research on the impact of Covid-19 on the movement of cash flows in food and beverage companies is necessary to better understand the status of manufacturing enterprises. Design/methodology/approach: To examine the impacts of Covid-19 on cash flow of food and beverage companies, the researchers used financial data from the Fiin Pro database of 33 Vietnamese food and beverage companies over 6 years from 2017 to 2022. The study used the regression model analysis data regression analysis with the Feasible generalized least squares (FGLS) method by using the multi-regression model developed by the previous studies. Findings: To examine the impacts of Covid-19 on cash flow of food and beverage companies, the researchers used financial data from the Fiin Pro database of 33 Vietnamese food and beverage companies over 6 years from 2017 to 2022. The study used the regression model analysis data regression analysis with the Feasible generalized least squares (FGLS) method by using the multi-regression model developed by the previous studies. Research limitations/implications: Firstly, the study only utilizes model adjustment through FGLS but does not address the endogeneity phenomenon. Secondly, the study only focuses on developing countries without comparison to developed countries. Therefore, the authors propose some implications for future research. Firstly, studies could continue to expand on examining the endogeneity phenomenon. Secondly, research could broaden its scope to include other developing countries for a deeper comparison. Originality/value: The research will help food and beverage industry enterprises predict cash flow within the company when a crisis like COVID-19 occurs. This will assist enterprises in better preparing for business operations and enhancing competitive capabilities during crisis periods.