Investment Themes

Companies with pricing power

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Investment Themes

The world we live in has rarely been so unclear for companies. Economic cycles are crossing, consumption patterns are constantly changing and business models are being disrupted at lightning speed. Yet, in this apparent chaos, some companies manage to generate long-term performance. They do so thanks to an ingredient that is difficult to obtain but nevertheless necessary to thrive in an uncertain world: pricing power.

Pricing power is defined as the ability of a company to increase its prices without affecting the demand for its products or services. Companies with pricing power are thus able to modulate their pricing policy and sell at higher prices, without their sales volumes suffering, and even without their customers necessarily noticing. This pricing power is intrinsically linked to the elasticity of price to demand. If a company has no pricing power, a policy of increasing its prices would lead to a decrease in demand for its products. On the contrary, a company with pricing power can impose its price on customers because it knows that demand will remain strong. Warren Buffett once said that "pricing power is more important than good management". According to the Oracle of Omaha, "if you have the ability to raise your prices without losing customers to a competitor, you have a great business. On the contrary, if you need a prayer session before you raise your prices by a few cents, then you have a lousy business. These words convey a truth: pricing power is the best indicator for identifying a great business that can thrive over the long term because it has a sustainable competitive advantage. A company that wants to have this ability must bring to its market a unique value proposition, the result of a cross-analysis of its competitive field and its portfolio of resources (financial, human, technical, legal, etc.). This pricing power can have several origins, but it is often linked to the notion of moat to signal a company's sustainable competitive advantage. A firm's sustainable competitive advantage can take many forms: the low number of competitors or substitutes in the market, a firm's unmatched know-how, a strategic patent, a desirable and globally recognized brand, high barriers to entry and exit, or a unique or monopolistic positioning are all sustainable competitive advantages that provide pricing power. By studying these qualitative factors as well as the operational history of a company's profitability and growth, we have identified for you dozens of companies with pricing power. In an equity portfolio, these companies can contribute to the generation of resilient potential returns over time.

Our selection

Technology
Other Software
3,55900Cr +12.68%
Financials
Other Financial & Commodity Market Operators
6.62TCr +40.30%
Technology
Other Semiconductors
1,20400Cr +7.27%
Financials
Other Financial & Commodity Market Operators
1.16TCr +9.89%
Technology
Other Semiconductors
92TCr -4.19%
Consumer Non-Cyclical
Distilleries
26TCr -6.37%
Technology
Application Software
18TCr -11.92%
Energy
Other Oil & Gas Transportation Services
701.6Cr +28.77%
Technology
Financial Technology (Fintech) (NEC)
6.2TCr +15.25%
Healthcare
Other Pharmaceuticals
36TCr -17.30%
Financials
Securities & Commodity Exchanges
9.76TCr +16.05%
Financials
Securities & Commodity Exchanges
909.65Cr +11.82%
Industrials
Other Professional Information Services
16TCr +0.69%
Technology
Internet Security & Transactions Services
70TCr +11.65%
Technology
Internet Security & Transactions Services
54TCr +6.73%
Financials
Other Financial & Commodity Market Operators
1.7TCr +31.12%
Financials
Other Financial & Commodity Market Operators
5.79TCr +20.46%
Consumer Non-Cyclical
Distilleries
6.63TCr -14.94%
Industrials
Rating Agencies
8.66TCr -0.31%
Consumer Cyclical
Other Casinos & Gaming
1.46TCr -21.55%
Consumer Non-Cyclical
Distilleries
2.32TCr -12.88%
Healthcare
Other Pharmaceuticals
12TCr +13.10%
Consumer Cyclical
Sporting & Outdoor Goods
127.54Cr -3.83%
Financials
Other Financial & Commodity Market Operators
10TCr +19.75%
Industrials
Other Professional Information Services
4.3TCr -9.55%
Consumer Cyclical
Quick Service Restaurants
22TCr +4.15%
Real Estate
Other Specialized REITs
2.45TCr +11.79%
Consumer Non-Cyclical
Other Tobacco
29TCr +53.16%
Financials
Other Financial & Commodity Market Operators
4.99TCr +10.71%
Industrials
Other Ground Freight & Logistics
7.55TCr +4.96%
Consumer Non-Cyclical
Other Tobacco
11TCr +24.58%
Technology
Other Internet Services
59TCr +22.30%
Technology
E-commerce & Auction Services
4.83TCr -15.33%
Consumer Cyclical
Handbags & Luggage
28TCr -1.16%
Healthcare
Bio Therapeutic Drugs
1.42TCr -0.77%
Technology
Other Semiconductors
18TCr +3.99%
Technology
Search Engines
2,13900Cr -7.73%
Technology
Other Internet Services
52TCr +35.99%
Technology
Security Software
7.78TCr +6.72%
Healthcare
Veterinary Medical Equipment & Supplies
4.24TCr +26.43%
- - 8.52TCr -
Consumer Cyclical
Other Apparel & Accessories
1.63TCr -0.55%
Technology
Phones & Smart Phones
2,97500Cr -21.55%
Technology
Other Semiconductor Equipment & Testing
31TCr -2.08%
Industrials
Industrial Valve Manufacturing
1.24TCr -2.57%
Technology
Semiconductor Machinery Manufacturing
2.99TCr -7.05%
Healthcare
Other Pharmaceuticals
24TCr +9.54%
Technology
Other Software
4.88TCr -5.43%
Healthcare
Veterinary Drugs
7.52TCr +0.86%
Consumer Non-Cyclical
Energy Drinks
6.21TCr +19.98%
Industrials
Other Professional Information Services
8.87TCr +14.80%
Consumer Non-Cyclical
Other Non-Alcoholic Beverages
31TCr +14.07%
Consumer Cyclical
Quick Service Restaurants
4TCr +7.33%
Industrials
Other Ground Freight & Logistics
6.61TCr -3.34%
Basic Materials
Industrial Gas
22TCr +11.30%
Technology
Other IT Services & Consulting
9.76TCr +7.33%
Healthcare
Other Pharmaceuticals
27TCr +5.56%
Healthcare
Bio Therapeutic Drugs
5.51TCr -25.70%
Consumer Non-Cyclical
Other Brewers
3TCr -25.39%
Technology
Enterprise Software
35TCr +7.81%
Technology
Application Software
6.39TCr -1.15%
Healthcare
Other Pharmaceuticals
12TCr -7.40%
Healthcare
Diagnostic & Testing Substances
588.69Cr -6.27%
Industrials
Financial Information Providers
4.68TCr +8.80%
Healthcare
Other Pharmaceuticals
8.53TCr +12.25%
Healthcare
Other Advanced Medical Equipment & Technology
15TCr -12.58%
Technology
Application Software
3.76TCr +1.49%
Consumer Cyclical
Quick Service Restaurants
2.24TCr +3.19%
Consumer Non-Cyclical
Other Distillers & Wineries
5.95TCr -23.15%
Financials
Other Financial & Commodity Market Operators
7.93TCr -2.13%
Technology
Enterprise Software
1.68TCr +32.26%
Consumer Cyclical
Games, Toys & Children Vehicles
9.55TCr +27.54%
Consumer Cyclical
Plumbing Fixtures & Fittings
2.7TCr +23.67%
Basic Materials
Industrial Gas
6.3TCr -3.33%
Consumer Cyclical
Other Apparel & Accessories
2.96TCr -37.47%
Healthcare
Other Medical Equipment, Supplies & Distribution
3.25TCr +5.43%
Technology
Enterprise Software
1.66TCr -0.86%
Healthcare
Other Pharmaceuticals
642.68Cr +6.77%
Technology
Other Software
3.47TCr -42.18%
Consumer Non-Cyclical
Cosmetics & Perfumes
23TCr +8.54%
Healthcare
Other Advanced Medical Equipment & Technology
16TCr -22.58%
Consumer Cyclical
Jewelry
11TCr +9.06%
Consumer Non-Cyclical
Other Non-Alcoholic Beverages
4.5TCr +2.80%
Consumer Non-Cyclical
Consumer Goods Conglomerates
7.79TCr +10.25%
Healthcare
Medical Prosthetics
1.89TCr -15.25%
Industrials
Air & Gas Compressors
7.68TCr -9.42%
Consumer Non-Cyclical
Other Personal Products
38TCr -4.40%
Consumer Non-Cyclical
Other Household Products
4.77TCr +5.44%
Consumer Non-Cyclical
Consumer Goods Conglomerates
15TCr -0.71%
Consumer Cyclical
Other Apparel & Accessories
27TCr -27.40%
Consumer Non-Cyclical
Other Distillers & Wineries
2.63TCr -17.71%
Basic Materials
Other Commodity Chemicals
12TCr +16.49%
Healthcare
Other Medical Equipment, Supplies & Distribution
2.29TCr +5.48%
Consumer Non-Cyclical
Other Distillers & Wineries
309.87Cr -12.84%
Consumer Cyclical
Bicycle Manufacturing
1.29TCr -4.65%
Consumer Cyclical
Other Apparel & Accessories Retailers
1.71TCr +20.79%
Healthcare
Specialty & Advanced Pharmaceuticals
5.86TCr -17.94%
Industrials
Agricultural Machinery
14TCr +20.27%
Industrials
Other Heavy Electrical Equipment
11TCr -2.95%
Industrials
Other Electrical Components & Equipment
14TCr -8.49%
Healthcare
Veterinary Drugs
309.2Cr +0.47%
Healthcare
Diagnostic & Testing Substances
1.67TCr +16.52%
Consumer Non-Cyclical
Cosmetics & Perfumes
338.38Cr -7.79%
Consumer Cyclical
Quick Service Restaurants
6.86TCr -16.68%
Consumer Cyclical
Other Casinos & Gaming
686.09Cr -14.45%
Technology
Other Semiconductors
5.35TCr +12.80%
Consumer Non-Cyclical
Carbonated Soft Drinks
18TCr -13.95%
Consumer Non-Cyclical
Other Food Processing
27TCr +12.51%
Consumer Non-Cyclical
Distilleries
811.41Cr -6.41%
Industrials
Other Business Support Services
1.04TCr +0.72%
Consumer Cyclical
Other Broadcasting
21TCr +5.92%
Healthcare
Other Advanced Medical Equipment & Technology
5.99TCr -10.84%
Consumer Cyclical
Luxury Clothing
787.24Cr -6.94%
Healthcare
Glasses, Spectacles & Contact Lenses
13TCr +2.72%
Consumer Cyclical
Tire & Tube Manufacturers
712.96Cr +10.74%
- - 1.5TCr -
Technology
Other IT Services & Consulting
20TCr -11.39%
Technology
Other Computer Hardware
1.29TCr -7.22%
Energy
Photovoltaic Solar Systems & Equipment
586.43Cr -33.61%
Basic Materials
Other Specialty Chemicals
4.29TCr -3.15%
Consumer Cyclical
Sailing Yachts & Motorboats
125.54Cr -6.91%
- - 6.24TCr -
Industrials
Other Electrical Components & Equipment
20TCr +14.00%
Industrials
Portable Motors & Generators
758.55Cr -19.56%
Healthcare
Other Advanced Medical Equipment & Technology
624.1Cr +34.23%
Consumer Cyclical
Other Restaurants & Bars
11TCr +2.20%
Consumer Cyclical
Other Tires & Rubber Products
2.67TCr +1.26%
Healthcare
Other Biotechnology & Medical Research
1.26TCr +22.33%
Consumer Cyclical
Other Home Furnishings Retailers
331.32Cr -51.95%
Consumer Cyclical
Other Apparel & Accessories Retailers
2.48TCr -27.56%
Consumer Cyclical
Other Apparel & Accessories
110.79Cr +3.74%
Consumer Cyclical
Other Appliances, Tools & Housewares
491.36Cr -8.03%
Consumer Cyclical
Internet & Mail Order Department Stores
2,26400Cr -3.32%
Consumer Cyclical
Motorcycles & Scooters
301.65Cr -19.68%
Technology
Other Household Electronics
16TCr +10.86%
Healthcare
Other Medical Equipment, Supplies & Distribution
555.04Cr -16.90%
Consumer Cyclical
Other Footwear
100.32Cr +2.77%
Technology
Other Household Electronics
224.07Cr -27.03%
Healthcare
Other Pharmaceuticals
3.16TCr +42.28%
Industrials
Commercial Aircraft Manufacturing
15TCr +4.39%
Consumer Cyclical
Sports & Outdoor Footwear
9.27TCr -20.01%
Consumer Cyclical
Sports & Outdoor Footwear
4.25TCr -15.54%
Consumer Cyclical
Other Auto & Truck Manufacturers
5.75TCr -5.54%
- - 4.21TCr -
Consumer Cyclical
Watches
889.39Cr -18.73%
Consumer Cyclical
Other Apparel & Accessories Retailers
548.24Cr +12.19%
Consumer Non-Cyclical
Other Personal Products
2.52TCr -10.23%
Consumer Cyclical
Other Auto & Truck Manufacturers
5.5TCr -4.66%
Healthcare
Other Managed Healthcare
29TCr -38.02%
Consumer Cyclical
Other Apparel & Accessories Retailers
210.37Cr -21.46%
Industrials
Commercial Aircraft Manufacturing
15TCr +13.18%
Consumer Cyclical
Other Apparel & Accessories
102.3Cr -24.15%
Energy
Photovoltaic Solar Systems & Equipment
124.11Cr +71.32%
Consumer Cyclical
Other Apparel & Accessories
9.21TCr -28.30%

News of the components

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Sector allocation

Ratings chart - Surperformance

Ratings ESG MSCI

  1. Stock Market
  2. Investment Themes
  3. Companies with pricing power