{"id":45512,"date":"2017-02-20T20:04:00","date_gmt":"2017-02-20T20:04:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2017\/02\/william-sonoma-wsm\/"},"modified":"2017-02-20T17:44:00","modified_gmt":"2017-02-20T17:44:00","slug":"william-sonoma-wsm","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/fr-ca\/2017\/02\/william-sonoma-wsm\/","title":{"rendered":"William Sonoma (WSM)"},"content":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui, nous discutons de Williams-Sonoma (WSM), un d\u00e8taillant multicanaux sp\u00e8cialis\u00e8 en produits haut de gamme pour la maison. Download <\/a>Apr\u00e8s s’\u00eatre n\u00e8goci\u00e8e \u00e0 forte prime pendant pr\u00e8s de 5 ans, l’action de WSM est retomb\u00e8e sous sa valeur intrins\u00e8que en fin d’ann\u00e8e 2016. Le rendement sur capital est tr\u00e8s stable, autour de 15%, et le NOPAT continue de cro\u00eetre avec le capital investi.Au niveau de la valeur, le ratio actuel P\/VI de 0.86 indique un potentiel d’appr\u00e8ciation d’environ 17% et il est \u00e0 son point le plus attrayant en 5 ans. La prime de valeur de croissance future (FGV) de 9% est raisonnable compte tenu du taux de croissance de la valeur des op\u00e8rations courantes (COV) au cours des 5 derni\u00e8res ann\u00e8es. Celui-ci a \u00e8t\u00e8 d’en moyenne 16.5% par ann\u00e8e, au-del\u00e0 des attentes actuelles refl\u00e8t\u00e8es dans la prime FGV.L’EVA cro\u00eet \u00e0 un rythme tr\u00e8s stable et lin\u00e8aire depuis janvier 2013, d\u00e8montrant la capacit\u00e8 du management \u00e0 bien allouer le capital et augmenter la richesse cr\u00e8\u00e8e pour les actionnaires.La performance comptable est \u00e8galement tr\u00e8s bonne. Les revenus continuent de cro\u00eetre, quoiqu’\u00e0 un rythme moins \u00e8lev\u00e8 qu’auparavant. Les free cash-flows sont toujours positifs et \u00e8lev\u00e8s, ce qui permet \u00e0 la direction d’augmenter les dividendes, d’effectuer des rachats d’actions (environ 2.7% des actions en circulation par ann\u00e8e) et d’investir dans son capital, et ce sans avoir recours \u00e0 l’endettement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui, nous discutons de Williams-Sonoma (WSM), un d\u00e8taillant multicanaux sp\u00e8cialis\u00e8 en produits haut de gamme pour la maison. Download Apr\u00e8s s’\u00eatre n\u00e8goci\u00e8e \u00e0 forte prime pendant pr\u00e8s de 5 ans, l’action de WSM est retomb\u00e8e sous sa valeur intrins\u00e8que en fin d’ann\u00e8e 2016. Le rendement sur capital est tr\u00e8s stable, autour […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[424],"class_list":["post-45512","post","type-post","status-publish","format-standard","hentry","category-intelligence","tag-wsm"],"acf":[],"yoast_head":"\nWilliam Sonoma (WSM) - Inovestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.inovestor.com\/fr-ca\/2017\/02\/william-sonoma-wsm\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"William Sonoma (WSM)\" \/>\n<meta property=\"og:description\" content=\"Dans l’analyse de contenu d’aujourd’hui, nous discutons de Williams-Sonoma (WSM), un d\u00e8taillant multicanaux sp\u00e8cialis\u00e8 en produits haut de gamme pour la maison. Download Apr\u00e8s s’\u00eatre n\u00e8goci\u00e8e \u00e0 forte prime pendant pr\u00e8s de 5 ans, l’action de WSM est retomb\u00e8e sous sa valeur intrins\u00e8que en fin d’ann\u00e8e 2016. 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