The aim of this study is to examine the impact of the Covid-19 Pandemic crisis and its aftermath on the cash holding strategies and financial performance of companies in the emerging economies of China, India and South Africa. For this purpose, annual data from the years 2017-2023 of the three largest firms, excluding financial institutions, in the specified countries and from different sectors have been used. For data analysis, the Pooled Ordinary Least Squares method, the Newey–West robust estimator, and the Driscoll-Kraay robust estimator have been utilized. According to the analysis results, it has been determined the cash retention rates of Chinese companies decreased during and after the pandemic, while the cash retention rates of Indian companies increased. It has been determined South African companies' cash retention rates increased during the pandemic and decreased afterward. During and after the pandemic period, among the financial performance indicators of Chinese companies, return on assets (ROA) and return on equity (ROE) have shown an increase, but no significant change has been observed in Tobin's Q. It has been determined Indian companies, ROA increased during the pandemic period, while there was no significant change in ROE and Tobin's Q, and after the pandemic, increases in ROA, ROE, and Tobin's Q were observed. In South African companies, declines in ROA and ROE were observed during the pandemic, while there was no significant change in Tobin's Q; after the pandemic, only a significant increase in ROA was detected, and there were no significant changes in the other variables.