Investment Themes
This is the QARP investment style for Quality at a reasonable price. Companies of sufficient size and liquidity that meet qualitative criteria relating to their financial health, business model stability and return on capital are selected. Then, a valuation filter is applied in order to retain only those companies that are valued at a reasonable price.
Qualitative" companies have controlled debt, a high return on capital employed, relatively high net and operating profitability, and stable results over time. The valuation filter then ranks the companies according to their cost by comparing their capitalization and/or enterprise value to their revenues (EV/Sales), net income (P/E) and free cash flow (P/FCF) to retain only the least expensive.
Several geographical areas are proposed. The global list includes companies listed in the world's major financial centers. The other lists are regional: North America (United States, Canada), Europe, Asia (Japan, Australia, Singapore, Hong Kong), Emerging Markets, United Kingdom, France, Germany, Switzerland, Netherlands and Italy.
Our selection
| Financials | Other Investment Management & Fund Operators | 1.12B | +71.99% | ||
| Technology | Other IT Services & Consulting | 3.2B | +3.22% | ||
| Technology | Enterprise Software | 6.83B | -9.85% | ||
| Consumer Cyclical | Women's Apparel Retailers | 6.28B | +51.23% | ||
| Industrials | Integrated Logistics Operators | 5.08B | +12.35% | ||
| Consumer Cyclical | Other Home Improvement Products & Services Retailers | 2.66B | +31.25% | ||
| Consumer Cyclical | Used Merchandise Stores | 1.36B | +45.15% | ||
| Industrials | Other Airlines | 1.25B | -15.29% | ||
| Industrials | Human Resources Consulting Services | 1.13B | -54.44% | ||
| Industrials | Other Business Support Services | 5.17B | -36.90% | ||
| Energy | Other Oil Related Services and Equipment | 2.48B | +32.84% | ||
| Industrials | Other Heavy Electrical Equipment | 10.87B | +40.11% | ||
| Basic Materials | Nonferrous Metal Processing | 5.86B | -14.64% | ||
| Consumer Cyclical | Other Apparel & Accessories Retailers | 5.98B | -6.74% | ||
| Industrials | Other Construction & Engineering | 3.74B | +4.28% | ||
| Consumer Cyclical | Other Department Stores | 10.59B | +2.52% | ||
| Technology | Other IT Services & Consulting | 4.51B | -58.76% | ||
| Technology | Other IT Services & Consulting | 4.42B | -33.84% | ||
| Basic Materials | Other Steel | 53.06B | +43.56% | ||
| Technology | Enterprise Software | 2.3B | +29.18% | ||
| Consumer Cyclical | Sports & Outdoor Footwear | 1.19B | -28.88% | ||
| Real Estate | Residential Real Estate Services | 1.89B | -14.99% | ||
| Financials | Other Investment Banking & Brokerage Services | 3.42B | +36.34% | ||
| Consumer Cyclical | Other Discount Stores | 3.95B | -39.84% | ||
| Consumer Cyclical | Other Apparel & Accessories | 1.27B | -2.88% | ||
| Consumer Cyclical | Other Footwear | 14.97B | +2.83% | ||
| Industrials | Other Business Support Services | 4.35B | -35.63% | ||
| Consumer Cyclical | Beauty Supply Shop | 20.35B | -22.46% | ||
| Technology | Other IT Services & Consulting | 9.44B | +0.68% | ||
| Technology | Electronic Component | 57.85B | -12.57% | ||
| Technology | Other IT Services & Consulting | 20.93B | -48.16% | ||
| Basic Materials | Other Precious Metals & Minerals | 1.08B | +102.84% | ||
| Financials | Other Investment Banking & Brokerage Services | 3.04B | +8.57% | ||
| Consumer Non-Cyclical | Food Ingredients | 1.83B | +17.22% | ||
| Consumer Cyclical | Other Apparel & Accessories Retailers | 1.59B | -28.78% | ||
| Energy | Other Oil Related Services and Equipment | 2.84B | +87.04% | ||
| Industrials | Other Heavy Machinery & Vehicles | 7.13B | +8.97% | ||
| Consumer Cyclical | Gambling & Gaming Machine Manufacturers | 2.01B | -34.51% | ||
| Energy | Other Oil & Gas Exploration and Production | 10.62B | -1.57% | ||
| Industrials | Courier Services | 18.23B | +15.03% | ||
| Technology | Technology Consulting & Outsourcing Services | 4.11B | -16.43% | ||
| Industrials | Other Shipbuilding | 2.82B | -18.00% | ||
| Consumer Cyclical | Other Auto, Truck & Motorcycle Parts | 34.64B | +81.01% | ||
| Technology | Other Communications & Networking | 1.44B | -9.52% | ||
| Industrials | Other Construction & Engineering | 7.52B | +22.28% | ||
| Technology | Other Software | 26.94B | +5.63% | ||
| Consumer Cyclical | Music, Music Video Production & Distribution | 3.22B | -35.11% | ||
| Financials | Other Consumer Lending | 2.26B | +5.33% | ||
| Industrials | Construction Machinery | 2.09B | +6.52% | ||
| Financials | Investment Management | 3.59B | +12.57% | ||
| Industrials | Other Marine Freight & Logistics | 1.85B | +21.15% | ||
| Industrials | Industrial Plant | 4.11B | +54.03% | ||
| Basic Materials | Copper Ore Mining | 2.58B | -6.34% | ||
| Technology | Social Media & Networking | 1.55B | -20.55% | ||
| Industrials | Other Heavy Machinery & Vehicles | 9.62B | +17.53% | ||
| Consumer Cyclical | Hotels & Motels | 4.32B | -21.24% | ||
| Consumer Cyclical | Other Apparel & Accessories Retailers | 3.8B | -44.67% | ||
| Financials | Brokerage Services | 8.41B | +3.05% | ||
| Financials | Investment Management | 4.52B | +32.69% | ||
| Industrials | Management Consulting Services | 1.31B | -5.74% | ||
| Technology | Other Internet Services | 11.35B | +6.07% | ||
| Services académiques et éducatifs | Miscellaneous Educational Service Providers | 5.61B | +18.30% | ||
| Basic Materials | Copper Ore Mining | 1.64B | -0.94% | ||
| Industrials | Online Job Portals | 6.39B | -30.18% | ||
| Technology | Enterprise Software | 2.33B | -28.98% | ||
| Services académiques et éducatifs | Professional & Business Education | 1.17B | -35.99% | ||
| Industrials | Construction Machinery | 1.63B | +8.59% | ||
| Services académiques et éducatifs | Miscellaneous Educational Service Providers | 7.74B | -9.89% | ||
| Technology | Application Software | 1.69B | +42.16% | ||
| Industrials | Other Aerospace & Defense | 33.65B | +3.74% | ||
| Consumer Non-Cyclical | Cosmetics & Perfumes | 1.36B | -64.15% | ||
| Technology | Internet Gaming | 2.6B | -34.96% | ||
| Consumer Cyclical | Other Restaurants & Bars | 6.29B | -14.04% | ||
| Technology | Application Software | 91.67B | -36.92% | ||
| Technology | Financial Technology (Fintech) (NEC) | 79.26B | -57.36% | ||
| Consumer Cyclical | Other Casinos & Gaming | 7.71B | +23.77% | ||
| Industrials | Other Shipbuilding | 10.9B | +2.59% | ||
| Consumer Cyclical | Sportswear & Outdoors Clothing | 1.94B | -8.97% | ||
| Healthcare | Veterinary Drugs | 1.34B | -11.56% | ||
| Consumer Non-Cyclical | Starch, Vegetable Fat & Oil Manufacturing | 3.97B | +61.72% | ||
| Consumer Non-Cyclical | Starch, Vegetable Fat & Oil Manufacturing | 2.28B | +28.15% | ||
| Healthcare | Other Pharmaceuticals | 14.89B | +40.03% | ||
| Consumer Cyclical | Other Appliances, Tools & Housewares | 6.43B | +2.14% | ||
| Consumer Non-Cyclical | Cigars & Cigarette Manufacturing | 66.72B | +8.44% | ||
| Healthcare | Medical Equipment Wholesale | 1.07B | +1.29% | ||
| Technology | Other Integrated Telecommunications Services | 3.48B | +16.18% | ||
| Consumer Non-Cyclical | Carbonated Soft Drinks | 21.74B | +9.16% | ||
| Industrials | Satellite Design & Manufacture | 51.8B | -4.26% | ||
| Healthcare | Other Pharmaceuticals | 2.06B | -6.97% | ||
| Consumer Non-Cyclical | Other Non-Alcoholic Beverages | 7.63B | -34.11% | ||
| Technology | Other Integrated Telecommunications Services | 16.44B | -1.69% | ||
| Industrials | Other Aerospace & Defense | 6.6B | -18.46% | ||
| Healthcare | Other Healthcare Facilities & Services | 6.85B | +17.09% | ||
| Consumer Non-Cyclical | Dairy Products | 6.44B | +61.48% | ||
| Healthcare | Other Pharmaceuticals | 4.26B | +30.81% | ||
| Industrials | Other Aerospace & Defense | 3.09B | +2.26% | ||
| Industrials | Other Aerospace & Defense | 120B | +6.48% | ||
| Consumer Non-Cyclical | Dairy Products | 5B | -28.23% | ||
| Healthcare | Other Advanced Medical Equipment & Technology | 66.37B | -55.29% | ||
| Consumer Non-Cyclical | Child Care & Family Services | 3.93B | -27.92% | ||
News of the components
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