To know the organizational components that explain profitability in small and medium-sized companies (SMEs) in Colombia, the Modernization Model for the Management of Organizations (MMGO®) was used as a tool, which allows us to know the situation analysis of this type of organizations in its management and financial profile. With this research, it was determined which of the components of the model explain to a greater degree, the profitability of the SMEs that were analyzed with this model during the years 2004 to 2017, in light of the Return on Assets (ROA, for its acronym in English of Return on Assets). The focus of this research is quantitative since it allowed a correlation analysis between the components of the MMGO® and the ROA using the multivariate and regression analysis as a statistical method. As a central hypothesis, it was stated: Some of the components of MMGO® explain to a greater degree the profitability of SMEs in light of the ROA. As a main finding it was found that the components that explain preferentially between 20% and 23% according to the R², the profitability of the companies analyzed in light of the ROA are: strategic direction, production management, human management, logistics and innovation and knowledge.