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 | 1.11B | +64.47% | ||
| Technology | Other IT Services & Consulting | 2.87B | +0.26% | ||
| Technology | Enterprise Software | 6.9B | -7.17% | ||
| Industrials | Integrated Logistics Operators | 5.21B | +14.48% | ||
| Consumer Cyclical | Other Home Improvement Products & Services Retailers | 2.66B | +32.70% | ||
| Consumer Cyclical | Women's Apparel Retailers | 6.47B | +50.36% | ||
| Consumer Cyclical | Used Merchandise Stores | 1.29B | +40.21% | ||
| Industrials | Other Airlines | 1.2B | -17.95% | ||
| Industrials | Human Resources Consulting Services | 1.12B | -54.29% | ||
| Industrials | Other Business Support Services | 5.24B | -33.97% | ||
| Healthcare | Other Pharmaceuticals | 1.68B | +0.33% | ||
| Energy | Other Oil Related Services and Equipment | 2.47B | +33.74% | ||
| Industrials | Other Heavy Electrical Equipment | 10.71B | +35.92% | ||
| Technology | Other Semiconductors | 2.44B | +80.60% | ||
| Basic Materials | Nonferrous Metal Processing | 6.07B | -17.36% | ||
| Financials | Other Investment Banking & Brokerage Services | 2.86B | +2.42% | ||
| Consumer Cyclical | Other Apparel & Accessories Retailers | 6.25B | -3.03% | ||
| Energy | Other Oil Related Services and Equipment | 2.82B | +78.74% | ||
| Industrials | Other Construction & Engineering | 3.62B | +1.26% | ||
| Consumer Cyclical | Other Department Stores | 11.2B | +7.58% | ||
| Technology | Other IT Services & Consulting | 4.63B | -56.73% | ||
| Technology | Other IT Services & Consulting | 4.56B | -32.93% | ||
| Basic Materials | Other Steel | 53.89B | +45.06% | ||
| Technology | Enterprise Software | 2.3B | +28.98% | ||
| Technology | Other Communications & Networking | 1.38B | -11.03% | ||
| Consumer Cyclical | Sports & Outdoor Footwear | 1.25B | -25.25% | ||
| Real Estate | Residential Real Estate Services | 1.99B | -11.36% | ||
| Financials | Other Investment Banking & Brokerage Services | 3.44B | +35.03% | ||
| Consumer Cyclical | Other Discount Stores | 4.02B | -39.32% | ||
| Industrials | Other Electrical Components & Equipment | 10.89B | +2.19% | ||
| Industrials | Industrial Plant | 3.79B | +44.16% | ||
| Consumer Cyclical | Other Apparel & Accessories | 1.3B | -0.98% | ||
| Consumer Cyclical | Other Footwear | 14.79B | +2.72% | ||
| Industrials | Other Business Support Services | 4.3B | -33.65% | ||
| Financials | Investment Management | 4.51B | +31.56% | ||
| Technology | Other IT Services & Consulting | 1.48B | +2.19% | ||
| Technology | Other IT Services & Consulting | 9.85B | +0.93% | ||
| Consumer Cyclical | Sports & Outdoor Footwear | 12.31B | -19.97% | ||
| Basic Materials | Copper Ore Mining | 1.65B | -6.78% | ||
| Consumer Non-Cyclical | Food Ingredients | 1.87B | +19.84% | ||
| Consumer Cyclical | Other Apparel & Accessories Retailers | 1.51B | -30.45% | ||
| Industrials | Other Heavy Machinery & Vehicles | 7.11B | +7.40% | ||
| Consumer Cyclical | Gambling & Gaming Machine Manufacturers | 2.05B | -33.77% | ||
| Technology | Other IT Services & Consulting | 21.22B | -46.06% | ||
| Energy | Other Oil & Gas Exploration and Production | 10.4B | -2.58% | ||
| Industrials | Courier Services | 18.15B | +14.50% | ||
| Industrials | Other Shipbuilding | 2.76B | -20.25% | ||
| Technology | Technology Consulting & Outsourcing Services | 4.17B | -14.73% | ||
| Consumer Cyclical | Other Auto, Truck & Motorcycle Parts | 31.77B | +57.98% | ||
| Industrials | Other Construction & Engineering | 7.16B | +16.25% | ||
| Technology | Other Software | 26.72B | +5.61% | ||
| Consumer Cyclical | Music, Music Video Production & Distribution | 3.11B | -37.69% | ||
| Industrials | Construction Machinery | 2.04B | +6.22% | ||
| Industrials | Other Marine Freight & Logistics | 1.94B | +23.15% | ||
| Basic Materials | Copper Ore Mining | 2.52B | -12.72% | ||
| Consumer Non-Cyclical | Cosmetics & Perfumes | 1.36B | -63.16% | ||
| Technology | Social Media & Networking | 1.57B | -21.89% | ||
| Industrials | Other Heavy Machinery & Vehicles | 9.42B | +16.04% | ||
| Consumer Cyclical | Hotels & Motels | 4.43B | -18.20% | ||
| Consumer Cyclical | Other Apparel & Accessories Retailers | 3.64B | -43.66% | ||
| Financials | Brokerage Services | 8.57B | +1.83% | ||
| Industrials | Management Consulting Services | 1.31B | -6.74% | ||
| Services académiques et éducatifs | Miscellaneous Educational Service Providers | 5.1B | +8.26% | ||
| Technology | Other Internet Services | 10.77B | +1.87% | ||
| Technology | Electronic Component | 59.35B | -10.64% | ||
| Industrials | Online Job Portals | 6.67B | -26.84% | ||
| Services académiques et éducatifs | Professional & Business Education | 1.22B | -35.24% | ||
| Services académiques et éducatifs | Miscellaneous Educational Service Providers | 7.82B | -10.69% | ||
| Technology | Application Software | 1.74B | +36.72% | ||
| Industrials | Other Aerospace & Defense | 33.5B | +3.23% | ||
| Technology | Application Software | 94.31B | -32.21% | ||
| Consumer Cyclical | Other Casinos & Gaming | 7.48B | +23.26% | ||
| Industrials | Machine Tools | 2.51B | +58.98% | ||
| Technology | Financial Technology (Fintech) (NEC) | 79.62B | -56.06% | ||
| Industrials | Other Shipbuilding | 11.06B | +4.31% | ||
| Consumer Cyclical | Sportswear & Outdoors Clothing | 1.91B | -9.70% | ||
| Consumer Cyclical | Sportswear & Outdoors Clothing | 26.45B | -7.95% | ||
| Basic Materials | Other Specialty Mining & Metals | 83.92B | +14.94% | ||
| Industrials | Purification & Treatment Equipment | 4.07B | +11.04% | ||
| Healthcare | Other Pharmaceuticals | 1.96B | -9.75% | ||
| Healthcare | Veterinary Drugs | 1.35B | -10.84% | ||
| Consumer Non-Cyclical | Starch, Vegetable Fat & Oil Manufacturing | 4.14B | +65.07% | ||
| Consumer Non-Cyclical | Starch, Vegetable Fat & Oil Manufacturing | 2.48B | +37.04% | ||
| Consumer Cyclical | Other Appliances, Tools & Housewares | 6.85B | +9.70% | ||
| Consumer Non-Cyclical | Cigars & Cigarette Manufacturing | 69.4B | +12.54% | ||
| Healthcare | Medical Equipment Wholesale | 1.09B | +3.29% | ||
| Technology | Other Integrated Telecommunications Services | 3.28B | +16.18% | ||
| Consumer Non-Cyclical | Carbonated Soft Drinks | 21.69B | +9.02% | ||
| Consumer Non-Cyclical | Other Non-Alcoholic Beverages | 7.41B | -36.62% | ||
| Technology | Other Integrated Telecommunications Services | 16.94B | -2.59% | ||
| Industrials | Other Aerospace & Defense | 6.83B | -16.65% | ||
| Healthcare | Other Healthcare Facilities & Services | 7.3B | +20.16% | ||
| Consumer Non-Cyclical | Dairy Products | 6.24B | +56.96% | ||
| Healthcare | Other Pharmaceuticals | 4.05B | +25.62% | ||
| Industrials | Other Aerospace & Defense | 3.14B | +2.76% | ||
| Industrials | Other Aerospace & Defense | 117B | +5.19% | ||
| Healthcare | Other Advanced Medical Equipment & Technology | 65.44B | -53.82% | ||
| Healthcare | Other Medical Equipment, Supplies & Distribution | 12.66B | +13.20% | ||
| Industrials | Other Aerospace & Defense | 71.65B | +9.68% | ||
| Consumer Non-Cyclical | Other Brewers | 9.81B | -9.61% | ||
News of the components
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